Tesla's net profit fell by 45% YoY in the second quarter of 2024 to US$1.48 billion, which may indicate that the company is facing challenges with its transformation, according to market sources.

Under the current geopolitical climate, the trend toward localized production is set to continue for some time. Yet Hon Hai Precision (Foxconn) is seemingly bucking the trend, instead increasing its investments in new businesses in China. What factors lie behind this decision?

Onsemi has announced a landmark supply agreement with Volkswagen (VW) - the world's second-largest automaker - to provide a complete power box solution for its next-generation electric vehicles (EVs).

Tesla CEO Elon Musk has publicly voiced strong support for Republican US presidential candidate Donald Trump. They have even aligned on the issue of opposing EV subsidies, resolving their previous differences. This shift is rooted in Musk's falling out with California Democrats since the Covid pandemic.

Disappointing results from NXP Semiconductors in its latest financial report may indicate that car manufacturers are becoming more conservative and the development of battery electric vehicles (BEVs) has slowed down, according to market sources.

China has intensified its pursuit of IC self-sufficiency, but efforts differ for automotive microcontroller units (MCUs) and MOSFETs, according to industry sources.

NXP reported that its performance was affected by its customers' inventory management practices. Despite this, the company expressed strong confidence in its joint venture with Taiwan-based Vanguard International Semiconductor (VIS), which is set to operate in Singapore.

Texas Instruments (TI) provided financial guidance that is slightly lower than expectations. The company's capital expenditure (Capex) plan is progressing smoothly, indicating significant structural growth opportunities in the semiconductor industry and highlighting its resilience amid geopolitical tensions.

India's car market is on track to reach 20 million units by 2047, helped by promising growth in battery electric vehicles, Suzuki Motor Corp. Executive Vice President Kenichi Ayukawa said.

The European Union finds itself at a crossroads as it considers implementing anti-subsidy provisional tariffs on Chinese electric vehicle (EV) imports by the end of November. This move highlights the EU's complex relationship with China, balancing the need to protect domestic industries while maintaining crucial economic ties.

NXP's latest financial results indicate that the company continues to navigate the industry downturn, presenting a third-quarter outlook that falls below expectations. These disappointing results could signal similar outcomes for other chipmakers in the electric vehicle (EV) industry.