China has been aggressively developing level 3 vehicle autonomy in recent years. According to local media reports, the country has formed a shared opinion that the driver of an L3 autonomous car will claim responsibility first under any circumstances in an accident caused by their vehicle. The consensus will likely be applied to accidents caused by vehicles with L4 and L5 autonomy in the future.
In June 2023, the Chinese government introduced two notable policies targeting the EV sector. One policy involves EV tax breaks, while the other entails the expansion of the new energy vehicle (NEV) promotion initiative in rural areas. As observed by DIGITIMES Research analyst Jessie Lin, these policies yield several advantages, including a sustained boost in market demand, amplified investments by Chinese carmakers in the EV domain, and the advantageous preservation of China's prominent position within the EV industry.
To expand the market for electric two-wheelers abroad, Taiwanese motorcycle brand Kymco and Kymco Capital have partnered with Arun Plus, a wholly-owned subsidiary of Thailand's state-owned petrol company, PTT, to establish a new joint venture. This new entity, with a capital of THB600 million (about US$17.05 million), will be responsible for building the two-wheel EV industry and supply chain in Thailand.
Over the past week, a series of developments and rumors regarding Foxconn's investments in India have occurred. Global PC and notebook manufacturers are closely watching if India will recosider implementing its import restrictions on computers.
South Korea-based battery manufacturer SK On is accelerating expansion. The company will invest in a new battery material plant in Quebec, Canada, with Ford. It also plans to build another battery manufacturing facility in South Korea.
The worldwide push for carbon reduction has taken center stage, compelling the transportation sector to explore alternative renewable energy options. However, achieving carbon reduction within aviation poses notable challenges.
BYD just reached the five million vehicle production milestone. Chairman and president Wang Chuanfu said at an event that Chinese automakers should work together to show the world the country's car expertise. He did not convince his competitors. Some even said they will have a fight before collaborating on anything.
Many car component suppliers have announced their financial results in the first half of 2023. While some were optimistic about the future of China's automotive sector, others said the market is chaotic and the demand is hard to measure.
After trying to attract Tesla's investment for a long time, Indonesia seems to have made some progress. Senior minister Luhut Pandjaitan said the EV giant is considering investing in lithium battery materials in the country and will announce the plan in the following months.
Foxconn has seen multi-fold growth in revenue, employee numbers, and investment since its expansion into India in 2005, says the company's chairman, Young Liu. While primarily focused on information and communications technology (ICT) assembly, the company is also planning to set up key consumer electronics component assembly lines in the country, and there may even be EV component lines.
DIGITIMES Asia has unveiled the "2023 ASC 250 Rankings." In the post-pandemic era, the Russia-Ukraine war, and global inflation, more than half of the leading 10 companies are encountering a dip in their revenue growth rates. Notably, TSMC, the heavyweight champion of semiconductor foundry, leads the pack with an impressive revenue growth rate of 33.4%. However, within the top 20 companies, CATL stands out prominently, boasting a remarkable growth rate of 138%.
China's mature EV supply chain has challenged foreign automotive tier-1 suppliers and their joint ventures. Foreign-based companies have trailed behind the country's battery dominance, having to handle the tense competition from local electric motor makers.
India's surprising announcement to require license for imported notebooks and tablets raised confusion and concerns in the IT hardware industry. Hyundai is looking to launch more EV models in India to capitaize on the rising market.