Sep 28, 10:27
China tries to reduce geopolitical risks for EV supply chain
As the political tension between China and the US continues, the Chinese government is enhancing the country's EV supply chain to avoid battery technology outflow and learn critical techniques from foreign companies.
Arc Boat Co. raised $70 million from investors to move beyond high-end electric boats and expand its operations toward electrifying more of the marine industry.
Volkswagen AG is curbing the production of electric vehicle models at two German plants due to declining European demand and shrinking government subsidies.
EVs are increasing the demand for silicon carbide (SiC). In addition, generative AI also drives data centers' needs for new-generation power semiconductors.
Excellence Optoelectronics (EOI), a Taiwanese manufacturer of LED vehicle lighting modules, anticipates a return to profitability in the first quarter of 2024 when its new US plant in Michigan breaks even.
China's Vice Premier He Lifeng expressed "strong concern and dissatisfaction" on Monday to the European Union's chief trade negotiator Valdis Dombrovskis over the bloc's anti-subsidy probe into Chinese electric vehicles.
Hyundai Motor Co. and Kia Corp. plan to slash the prices of some electric vehicles as the South Korean government expanded subsidies in a bid to boost flagging demand for clean cars.
Nissan has jumped on the bandwagon to go fully electric in Europe. The automaker announced on September 25 that it plans to sell only EVs on the continent by 2030. From now on, all new Nissan models launched in Europe will be all-electric.
Ford said on September 25 that it had halted construction of its battery plant in Michigan amid the ongoing strikes initiated by the United Auto Workers (UAW). The carmaker had planned to license technology from China-based CATL to produce batteries in the US.
Taiwan boasts a comprehensive supply chain for electric two-wheelers. Besides selling the vehicles domestically, the industry is seeking opportunities in overseas markets. While the sector holds technical advantages, it needs the government's push to expand in emerging markets like ASEAN countries.
Despite being in the early stage, the rapidly growing EV sales have led to rising investments in EV production in India, which is expected to reach one million units over the next five years.
Electric-car maker Zeekr is banking on extra momentum from sister brands like Volvo Car AB to push into Europe, just as Chinese carmakers' ambitions in the region move into the crosshairs of global trade tensions.