Ford Motor Co. will take a direct stake in a battery-nickel plant under construction in Indonesia, deepening its role in the supply chain as carmakers try to secure materials for electric vehicles.
Amazon has recently downsized its Alexa department, leading to the layoffs of hundreds of employees. Despite this, BMW has highlighted the advancement of Alexa technology in their in-car voice assistants, indicating a sustained market demand for such voice assistant capabilities, albeit with changes in the primary products they are integrated into. As more car manufacturers embrace cloud and AI technologies, the focal point shifts to enhancing the in-car user experience.
Hon Hai Technology Group (Foxconn) recently invested in Indigo Technologies, a US electric vehicle startup, through its subsidiary Foxconn EV Technology, in order to speed the development of the electric car market.
Level 2 and 3 vehicle autonomy is poised to become a car's standard feature as automotive electronics companies and automakers continue to promote the technology. Taiwanese carmaker China Motor Corporation (CMC) recently said it will keep developing self-driving technology.
China has seen plenty of EV companies emerge and the competition between car parts suppliers grows intense. Supply chain sources said if a component maker cannot offer indispensable products, it will have difficulty surviving in the Chinese market.
Elon Musk may be close to winning a long-running battle of wills with the Indian government. Policy makers in New Delhi have been hoping to entice Tesla Inc. to produce electric vehicles in India. Musk, meanwhile, wants to sell his cars here without paying the exorbitant import tariffs that India charges.
China has imposed stricter export controls on graphite, a critical EV battery material, since December 1. Many Japan-based companies relying on China's raw materials have been diversifying their supply chains and purchasing from other countries to reduce risks.
The US government released guidance on EV batteries and materials sourcing, mainly targeting China. Starting in 2024 and 2025, EVs will not be eligible for tax credits provided by the Inflation Reduction Act (IRA) if they contain battery components and materials from a foreign entity of concern (FEOC).
Volkswagen Group has accelerated collaboration between its brands and third-party software developers. One of the cases was Porsche announced at the end of October that it will adopt Google's Android Automotive operating system in its software 1.2 platform.
Tesla officially launched the long-waited Cybertruck on November 30, with three configurations available. The cheapest rear-wheel model has a price tag of US$60,990, over 50% more than the company had marketed. Tesla will start deliveries in 2024 and 2025.
China-based EV company Nio secured a partnership with another traditional carmaker in China. Nio signed a strategic cooperation agreement with Geely Holding on November 29 for battery swapping.
BMW AG and Mercedes-Benz Group AG will cooperate on a fast-charging network for EVs in China with a plan to open at least 1,000 stations by 2026, a move that will still leave the two luxury-car makers trailing Tesla Inc.
While carmakers and automotive semiconductor companies hold different views on the outlook for the global car market, industry leader Infineon is optimistic about the future. According to DIGITIMES Research, the growing demand for automotive semiconductors, robust order backlogs and the edge in China's EV sector will further Infineon's revenue growth.
The Land Transport Authority (LTA) in Singapore recently announced that it will grow the country's electric bus fleet. The agency plans to spend SGD221.5 million (US$166 million) on the project, with SGD166.4 million designated for purchasing 360 single-decker buses with three doors and the rest for charging system deployment at three bus stations.
Supply chain experts note a deceleration in major carmakers' investments in electric vehicle (EV) self-production projects. This shift is attributed not only to considerations of policy impacts on demand but also to the emergence of "alternative solutions."
Toyota Motor and its two affiliates, Toyota Industries and Aisin plan to sell 10% of their stakes in Denso, the world's second-largest tier-1 automotive supplier. The move likely aims to bring in more cash for the Japanese automaker as it catches up in the EV sector.
As 5G, AI, and EVs continue to drive demand for passive components, multilayer ceramic capacitor (MLCC) manufacturers see growing opportunities for high-capacity and small-sized products, with products for servers and notebooks also expected to see growth as well.
Hyundai Motor is gearing up for the mass production of Ioniq 7 to scale its EV business. The company plans to suspend operations at its Asan plant in South Korea for two months to upgrade equipment. The move will likely affect the delivery time of some of Hyundai's popular vehicle models.
Industry sources indicated that Europe's heavy dependence on imported lithium batteries could lead to a reversal of the current surplus in car component exports.
Chinese EV maker Li Auto has strengthened its capabilities in chip development and is starting to hunt international talents. Media reported that the company is establishing a team in Singapore to focus on developing silicon carbide (SiC) power semiconductors.
Foxconn announced a fresh investment in India to build manufacturing facilities amid its ongoing diversification efforts out of China and forays into more areas, including semiconductors.
As the consumer electronics market witnesses inertia, companies are looking to non-consumer products for growth opportunities, and among these products are automotive applications. This sector has attracted the attention of Taiwanese OEMs like Hon Hai Technology Group (Foxconn) and Pegatron, alongside ODM Quanta Computer (Quanta). It has become clear that these three companies regard the EV sector as a major growth driver.
The Automotive Research & Testing Center (ARTC) in Taiwan broke ground on the island's first high-speed self-driving technology testing site in July 2023. With support from Taiwan's Ministry of Economic Affairs, the project is expected to facilitate local electronics and ICT companies working with the automotive industry and global carmakers.
Samsung Electronics is reportedly setting its sights on the automotive market, gearing up to unleash a series of game-changing products from 2024 onward. With these cutting-edge innovations, Samsung aims to claim the leading position in automotive memory by 2025.
