Japan-based Mitsubishi Motors is poised to scale up its EV business in the next few years. It revealed a new mid-term business plan, Challenge 2025, aiming to increase spending on R&D and CAPEX in electrification. The carmaker also plans to roll out four battery EVs in five years.
Darfon Electronics is seeing its keyboard inventory gradually return to a healthy level in the first quarter of 2023 after the success in clearing its excess inventory in the second half of 2022 and should have a chance to enjoy rising orders from clients in the second half of 2023. The company's green energy business should also enjoy growth in 2025.
China-based battery maker CATL had a strong 2022 despite the challenges caused by COVID-19 and the lithium price hike. The company saw a 152% growth in revenue and a 92.9% increase in net profit last year. However, its profit growth was much lower in the fourth quarter.
As EV sales have increased rapidly in recent years in India, the lack of local components suppliers from materials to batteries may pose a risk to the country with rising reliance on imports from China.
World-leading battery maker CATL recently took over Sinuowei Mining, a China-based lithium mining company under restructuring. The buyout is expected to help CATL gain influence in battery raw material production and price.
Salcomp, the Finland-based mobile charger manufacturer, plans to expand its Indian manufacturing business not only for mobile phones but also for EVs and renewable-related electronics to capitalize on India's roadmap to build a self-reliant electronics ecosystem.
The cobalt market saw its biggest ever supply surge last year, driven by booming production of the crucial battery metal in the Democratic Republic of Congo and Indonesia, according to specialist trading house Darton Commodities.
Indonesia took a step forward to boost its EV market on March 6. The government announced a subsidy program for electric scooters, vehicles and buses. Officials said the country is in final discussions with two global automakers about new investments, hoping the program will benefit the conversations.
Huge lithium reserves have been found in northern India, an important discovery for a country eager to transition away from reliance on fossil fuels and build a self-reliant EV ecosystem.
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.
India has closed the application window for its solar module manufacturing incentive scheme, and Reliance and Tata are reportedly bidding on the grants. However, Adani Group, engulfed in a fraud allegation, might not participate.
Semiconductor manufacturing is one of the dominant sources of carbon emissions. Vast amounts of power are required to manufacture the chips. Most discussion about the methods to limit global warming focuses on reducing the emission of greenhouse gas (GHG). How do leading chip makers boost their sustainability and minimize the climate impact at the same time?
China-based carmakers and solar cell suppliers are aggressively foraying into the silicone carbide (SiC) segment in line with the semiconductor self-sufficiency goal set by the government, while Taiwan's silicon and solar wafer vendors like GlobalWafers are also quietly deepening their deployments in SiC wafer production, 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.
