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.
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.
The adoption and application of DC microgrid is rising. The grid combines renewable energy, energy storage systems and end devices, enhancing energy conversion efficiency. It will see more application in EV charging.
Applications such as electric vehicles and energy storage have gradually seen material demands. However, whether the two applications can be operated safely and effectively depends on the battery. Many industry leaders in Taiwan have been investing in those fields or cross-domain developments for many years. Among them, Taiwan startup XING Mobility has not only written a new chapter for battery cooling technology but also successfully found a new breakthrough for Taiwan manufacturers in the international market competition.
Taiwan's offshore wind power sector has embarked on its third phase. The earlier progression through the first and second phases has led to a upsurge in demand for subsequent services in wind farm operation and maintenance(O&M). Projections indicate that the annual economic prospects in offshore wind power O&M could reach up to NT$30 billion. To foster the localization of the offshore wind power supply chain, Taiwan Power Company (Taipower) and other key industry stakeholders have sequentially established O&M hubs in Taiwan.
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.
In response to the national low-carbon policy and corporate priorities, Unimicron, a IC substrate manufacturer, recently inaugurated the "large-scale stationary hydrogen fuel cells" within the Zhongli industrial zone. This strategic move is designed to foster energy supply diversification and self-sufficiency, facilitating the company's transition towards sustainable energy practices.
In mid-2023, Denso aligned with Japan's governmental hydrogen energy policy and Toyota's hydrogen energy pursuits, unveiling three novel accomplishments in environmental technology. These breakthroughs will undergo practical testing from May to September, with Denso planning to make them available for external purchase between 2023 and 2025. This offers a valuable reference for enterprises focused on curbing carbon emissions.
Lithium battery cells made in China account for more than 50% of the global energy storage system and EV market share. Suppliers from other countries will encounter tremendous challenges when entering the Chinese market. They are also worried that they will lose their domestic markets to China-based competitors.
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.
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.
Taiwan-based automotive design company, Cruise X took the wraps off the X-Platform for logistics trucks. Albert Yang, the company's president, said the parent company, Studio X-Gene, embarked on EV projects, which left the team somewhat baffled in 2009. He held the view that many legacy automakers retained technologial advantages in internal combustion engines and transmission systems. Even though governments worldwide are imposing increasingly stringent regulations on air pollution and carbon emissions, the automotive industry's foundation isn't easily shaken. Nevertheless, when it boils down to the core component of automobiles—the chassis—it became the fundamental concept steering Cruise X's evolution.
Southeast Asia's largest economy has decided to give itself more time to build a local EV hub. Indonesia announced on August 10 that it will push back the deadline for EV incentives for two years to attract more investment. In addition, the country keeps trying to lure Tesla to produce locally.