Scrapping of joint venture with Koc Holding blamed on EV adoption rate The joint venture between Koc Holding, Turkey’s largest industrial conglomerate, US automaker Ford and South Korean battery manufacturer LG Energy Solution to build a battery plant for commercial electric vehicles near Ankara is not going ahead. “Considering the current pace of electric vehicle…
Young Chinese luxury EV brand has been a huge success in China, entered Europe in September.
Chinese automakers set to flood export markets with cheap EVs A bipartisan group of US lawmakers want the Biden administration to hike the current 25% tariff on vehicles made in China and find ways to prevent Chinese automakers from exporting to the US by locating plants in countries with free trade deals such as Mexico. …
SK On inks first supply agreement with Polestar for 2025 flagship model South Korean battery maker SK On said this week it has inked a deal with Polestar to supply lithium-nickel-manganese-cobalt (NCM) batteries for the Sino-Swedish carmaker’s upcoming flagship Polestar 5. The supply agreement with Polestar, owned by China’s Geely, kicks off in…
Tesla has been working on-and-off on a cheap mass market car for years Citing unnamed sources, Reuters is reporting Elon Musk announced plans for a new €25,000 Tesla during a site visit to the Texas-based company’s gigafactory outside Berlin, Germany on Friday. The German plant currently builds Tesla’s best-selling Model Y and the unnamed sources…
German automaker announced plans for six gigafactories with 240 GWh capacity at its March 2021 Power Day Volkswagen has postponed a fourth battery factory in Europe indefinitely, the German carmaker’s chairman Oliver Blume said this week. “Based on market conditions, including the sluggish ramp up of the BEV (battery electric vehicle) market in Europe……
World’s no 1 automaker adding six hybrid assembly lines in North Carolina as BEV strategy takes back seat Toyota Motor said it is more than doubling its investment in a battery plant in the US state of North Carolina to an eye-popping $14 billion and will now devote 10 of 14 assembly lines to plug-in (PHEV)…
Over 80% of Panasonic’s EV battery production is supplied to Tesla Panasonic said on Monday it slowed down electric vehicle battery production in Japan by 60% during the September quarter compared to Q2 to normalize inventory levels. The Osaka-based company also lowered its battery division’s annual profit forecast by 15% to $769 million citing unfavorable…
Stellantis burnt its fingers in China, but now wants to bring the country’s EVs to the rest of the world Stellantis on Thursday said it will invest $1.6 billion to acquire roughly 20% of electric vehicle start-up Leapmotor, forming a joint venture to sell the Chinese company’s EVs in Europe and elsewhere – as soon…
Average battery capacity deployed by top 5 OEMs diverge year-on-year Tesla topped the tables for battery capacity deployed in newly-sold EVs in July 2023 with 8.9 GWh powering the Texas-based company’s four models hitting roads during the month. Tesla’s market share in July 2023 was 16% of total battery capacity deployed worldwide, followed by BYD…
