Taiwan's Zerova Technologies is riding a boom spurred by demand for greener cars in the US. The maker of electric-vehicle charging systems is also navigating Joe Biden's Inflation Reduction Act, and according to Chief Executive Officer Jay Yang, it isn't an altogether positive law.
With the rise of self-driving vehicles, the demand for in-vehicle sensors is booming. Take Afeela, a car brand launched by a joint venture between Sony and Honda, as an example. It uses a total of 45 lenses and sensors inside and outside the prototype car, and a lidar is also installed on the roof.
Volkswagen Group has proceeded with its plan to revive the iconic American vehicle, the Scout. The company announced on March 3 that it had selected the State of South Carolina for construction an EV plant. Production is projected to start by the end of 2026.
Despite the fact that a chip glut is hurting memory suppliers like Samsung Electronics, India's carmakers are still waiting for the shortage of automotive chips to ease.
On Investor Day on March 1, Tesla revealed a master plan to electrify transportation from cars to planes and increase the sustainability of the global economy. CEO Elon Musk said the master plan will take US$6-10 trillion throughout 10 or 20 years to achieve, which is only 0.5%-1% of the total value of the global economy and 60% of the total investment made in fossil fuel infrastructures last year.
Taiwan-based IC design houses, such as Realtek Semiconductor, Novatek Microelectronics and Yusun Electronics, have entered the supply chain of BYD and other Chinese electric vehicle (EV) vendors, and are expected to enjoy a spike in orders from the new energy vehicle (NEV) industry in China this year, according to industry sources.
Chinese media EET China and Chejiahao Autohome reported that the government of Wenzhou inaugurated major projects for the first quarter of 2023, with one of the most important projects coming from BYD's battery plant.
China-based EV company Nio finished 2022 with growing revenue and more loss from operations. It said the increased loss was largely because of the lower order forecast for existing models, as new model deliveries will start in the second quarter. The carmaker is confident that the improving vehicle margin and decreased material prices can help the company to achieve positive operating income in the fourth quarter of this year.
Taiwan's government announced a plan to phase out gas-powered vehicles by 2040. The high population density could make Taiwan a world leader in the frequency and efficiency of charging infrastructure, not to mention numerous EV charging solution providers from the silicon island. Nonetheless, Taiwan is still a long way off its 7,500 charging points by 2025, far fewer than 700,000 in China, 500,000 in the United States, and 3.5 million in Europe. Why?
Vedanta and Foxconn selected Dholera SIR in the Gujarat state for establishing its wafer fab project, and the weak economy leads to a drag on India's local handset manufactuers' production plans.
Powering EVs with sodium-ion batteries seems to get closer to reality in China. Local carmaker SOL and battery manufacturer Hina Battery Technology unveiled a test vehicle equipped with sodium-ion batteries on February 23. The car came with a driving range of 252 kilometers.
Baidu announced that it is integrating its AIGC service Ernie Bot across Baidu's operations to enhance user experience. There are also plans for Ernie Bot to be integrated into Apollo Smart Cabin and Xiaodu's smart devices and services, the company said at the latest earnings call on Feb 22.
As a leader in India's emerging EV market, Tata Motors is reportedly looking to raise funds for the EV expansion as the carmaker is grappling with debt reduction in the automotive business.
Stellantis posted record financial results on Wednesday, with battery EV sales jumping 41% and adjusted operating income growing 29% in 2022. CEO Carlos Tavares said a strong order book will carry the company through the first half of this year.
