News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Category: Electric
South Korea’s LG Chem to invest $3bn in US plant for EV parts
South Korean firm says facility will produce components to power 2 million electric vehicles by 2027.
WM Motor cuts employee salaries to cope with financial pressure, internal letter shows
The Covid epidemic, rising raw material costs, and untimely parts deliveries have severely impacted WM Motor's production and operations, said WM Motor's CEO.
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Japanese automaker Mazda in $10.6bn EV battery plan
Company rushes to secure parts critical to electric vehicle production
Goldman Sachs says U.S., Europe could end reliance on Chinese EV batteries by 2030 -FT
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.
Goldman Sachs says U.S., Europe could end reliance on Chinese EV batteries by 2030 -FT
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.
Is The Tesla Brand Cooling In The Danish EV Market?
This is not about electric vehicle demand. Every EV produced of any brand will be sold for many years to come. There are fluctuations between brands, but none of the manufacturers will go broke because of lack of demand. Profits Matter Most In my opinion, the only reason any vehicle manufacturer would go bankrupt is […]
NIO starts offering ET7, EL7, ET5 purchase options in Europe, here are all the details
Pricing for ET7, EL7, ET5 essentially puts NIO in direct competition with Mercedes-Benz and BMW in Europe rather than Tesla's models.
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ZF Produces Two Million Electric Motors
ZF has produced two million electric motors, a significant milestone. The tech firm offers a variety of electric motors to automobile manufacturers, including hybrid and electric axle drives for electric passenger cars and electric central drives for commercial vehicles. The two million units that were generated made a substantial dent in CO2 emissions reduction. The […]
NIO ET7 Achieves Five-Star Rating In Euro NCAP & Green NCAP Tests
The NIO ET7, the flagship sedan and electric smart vehicle of NIO, received the highest possible rating of five stars in the most recent Euro NCAP safety testing. The ET7, which is already available in Europe, received scores of 91% for adult occupants, 87% for child occupants, 73% for vulnerable road users, and 95% for […]
