In recent weeks, the shooting incident involving Donald Trump, combined with President Joe Biden's gaffe that raised public concerns about his cognitive health, led to Biden announcing he would not seek re-election and would support Vice President Kamala Harris as the Democratic candidate.
Disappointing demand growth, uncertainties surrounding the upcoming US presidential election, and government policy changes have slowed the adoption of electric vehicles (EV), according to industry 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?
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.
The SK Group views EV-related businesses as a key growth area for the future, which is why its battery subsidiary SK On invested over KRW20 trillion (US$14.5 billion) to expand its global production sites.
The automotive industry's shift towards electrification is proving to be a more treacherous journey than anticipated, with actual performance falling short of expectations and investments yielding disappointing returns. What was once seen as a transformative opportunity has now become an "investment trap" for many supply chain companies struggling to keep pace with the trend.
Texas Governor Greg Abbott's Indo-Pacific trip has brought him to South Korea, where he has focused on strengthening economic ties and exploring technological collaborations. The governor's visit to Samsung Electronics' facility in Pyeongtaek underscored the deep cooperation between Texas and Samsung.
Nissan Motor has decided to initiate in-house mass production of Lithium Iron Phosphate (LFP) batteries starting from fiscal 2028 (April 2028 - March 2029), as the cost of ternary lithium-ion batteries has not decreased as expected.
The automotive industry's ongoing transition to electronic systems and electrification is creating a "tug-of-war" between new and established Tier-1 suppliers, known for supplying automotive systems and modules directly to carmakers. Among them, Chinese companies, representing the new Tier-1 team, are significantly gaining ground. In contrast, established Tier-1 suppliers from Europe, the US, Japan, and South Korea are battling to defend their positions and avoid slipping in the rankings.
South Korea's SK On is gearing up to power Japan's Nissan in a groundbreaking Electric Vehicle (EV) battery supply collaboration. This strategic alliance aims to bolster Nissan's supply chain overhaul while promising a significant boost to SK On's financial performance.
The future of Lithium Manganese Iron Phosphate (LMFP) batteries is promising, standing a good chance of gaining a strong presence in the solid-state battery sector, according to Taiwan-based HC Material (HCM).
The prospect of South Korean battery maker SK On returning to profitability anytime soon looks dim, judging from the uncertainty in the market, according to industry sources.
Sunwoda, a prominent Chinese battery company, has made significant progress in developing all-solid-state batteries. The company aims to reduce the cost of polymer-based all-solid-state batteries to CNY2 per watt-hour (Wh) by 2026, bringing it close to the price point of semi-solid-state batteries.
LG Energy Solution (LGES) has reportedly received major lithium iron phosphate (LFP) battery orders from French car maker Renault, providing a boost to the South Korean supply chain.
Renault is pushing a new partnership model for lithium iron phosphate (LFP) batteries by collaborating with its Chinese and South Korean battery suppliers in Europe.
India-based EV unicorn Ola Electric announced a plan to spend US$100 million to build a Gigafactory, focusing on in-house battery cells, as the company is expanding beyond the EV business into becoming a cell provider.
Automotive supply chains in Taiwan and China are seeing limited financial growth during the off-season in July and August. However, as inventory destocking ends, new energy vehicle (NEV) sales in China and other major markets show promising potential. Internal combustion engine (ICE) sales in Europe and the US have signaled a recovery. The development of fuel-cell vehicles has also been expedited.
The US, Japan, and South Korea pledged to cooperate more closely on building more resilient supply chains and developing key technologies, including semiconductors and critical minerals.
Honda, the Japanese automotive conglomerate, announced that it will launch a budget Battery Electric Vehicle (BEV) in October 2024 in Japan, and consumers can get one for less than US$10,000.
US-based Onsemi seizes the business opportunity of smart mobility, stepping up investments in the silicon (Si), silicon carbide (SiC), and gallium nitride (GaN) process development. The semiconductor company last week announced its expansion of SiC production in the Czech Republic to supply EVs, renewable energy, and AI.
In-house production of lithium battery cells by some US-based manufacturers is not going as smoothly as expected due to delays in factory construction and manufacturing progress, according to related supply chain sources in the US.
Energy saving and carbon reduction are pivotal trends in today's automotive industry, encompassing both four-wheelers and two-wheelers. Ching-Yue Lee, senior project specialist in the Power and System Business Group at Delta Electronics, shared his insights on the impact and development trends of carbon neutrality on electric two-wheelers at the "D Forum 2024" smart vehicle forum hosted by DIGITIMES.
