Author: Reuters

Fiat parent Stellantis has concluded it can't currently make affordable electric vehicles in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters.

A Philippine inter-agency panel chaired by President Ferdinand Marcos Jr on Thursday approved removing tariffs on electric vehicles (EVs) to spur demand amid high fuel costs.

A Hong Kong stock market debut puts Jakarta at the centre of China’s electric-car boom. Lygend Resources & Technology , a Chinese nickel trader, is looking to raise up to $594 million in an initial public offering to expand in Indonesia. The company’s presence in the resource-rich archipelago allows it to export copious quantities of the metal, which is in high demand back home.

Chinese automaker BYD Co Ltd said on Wednesday it raised prices for three of its electric vehicle models by 2,000 yuan ($279.86) to 6,000 yuan, citing reasons including rising battery prices and the scheduled expiration of some state subsidy plans.

SEOUL (Reuters) -Tesla chief executive Elon Musk said on Wednesday that South Korea was among its top candidate locations for a giant factory it plans to build in Asia for making electric vehicles (EVs), according to South Korea's presidential office. Musk had made the remark in a video call with President Yoon Suk-yeol, adding that the company planned to step up cooperation with South Korea on supply chains, Yoon's office said. The president asked Musk to build the planned Asian factory in South Korea.

The investment bank's analysts believe demand for finished batteries could be met without China within the next three to five years, as a result of investments in the U.S. by South Korean conglomerates LG and SK Hynix, according to a Goldman report to clients viewed by the newspaper. The report calculated that to achieve a self-sufficient supply chain, countries competing with China would need to spend $78.2 billion on batteries, $60.4 billion on components and $13.5 billion on mining of lithium, nickel and cobalt, as well as $12.1 billion on refining of those materials, FT said.

The investment bank's analysts believe demand for finished batteries could be met without China within the next three to five years, as a result of investments in the U.S. by South Korean conglomerates LG and SK Hynix, according to a Goldman report to clients viewed by the newspaper. The report calculated that to achieve a self-sufficient supply chain, countries competing with China would need to spend $78.2 billion on batteries, $60.4 billion on components and $13.5 billion on mining of lithium, nickel and cobalt, as well as $12.1 billion on refining of those materials, FT said.

Faraday Future Intelligent Electric said on Monday that it had "substantial doubt" about its ability to continue as a going concern after it reported lower cash reserves. The company said it had $31.76 million in cash as of the third quarter ended Sept. down from $121 million at the end of the prior quarter.