Electric motorcycles may not be the first thing that comes to mind when thinking of BYD, the world's leading electric car maker. However, a new agreement will see the company's batteries making their way to Africa, where they will be used in Ampersand's electric motorcycles.

 
Ampersand is one of the leading electric motorcycle makers in Africa, contributing to the growing boom of two-wheeled electric vehicle production on the continent. The company currently operates in Rwanda and Kenya, making significant strides in the African electric vehicle industry.&nbsp;

 
Ampersand's focus is on creating zero-emission electric motorcycles that offer an affordable and sustainable alternative to traditional internal combustion engine bikes, which are prevalent across the continent. This innovative approach addresses environmental concerns and provides practical solutions for the millions of motorcycle taxi riders who rely on these vehicles for their livelihood.

 
Since its inception in 2016, Ampersand has built the largest electric motorcycle fleet in East Africa. Their current fleet of thousands of electric motorcycles has demonstrated the significant benefits of electrification to the local population, including cost savings on fuel and maintenance, improved air quality, and enhanced public health. However, if the company is expecting to reach its goal of surpassing 10,000 electric motorcycles produced by the end of this year, it's going to need a lot more batteries, and that's where BYD comes in.

The two companies have just announced the signing of a Memorandum of Understanding that will see Ampersand purchase BYD's battery cells to produce around 40,000 electric motorcycles by the end of 2026. This move is particularly significant in the context of the crucial role that motorcycle taxis, commonly known as "boda bodas" in East Africa, play in the daily commute of millions of people, especially in urban areas where traffic congestion is a significant issue.

Motorcycle taxis in Africa are a ubiquitous and vital mode of transportation. They are popular for their affordability and ease of navigating through dense traffic, serving as a primary source of income for many motorcycle riders. The motorcycle taxi industry provides employment to millions, offering a viable economic opportunity in regions with high unemployment rates. The prevalence of these taxis highlights their importance in facilitating mobility, supporting livelihoods, and driving local economies across Africa.

However, the rising cost of fuel and the heavy maintenance load of combustion engine motorcycles have long been a difficulty faced by the industry, and electric motorcycles have sprung up in the last several years as a prudent alternative. BYD's lithium iron phosphate battery cells are particularly interesting to Ampersand for its motorcycles thanks to their track record for safety in the chemistry and much longer lifespan, both of which will be critical to commercial motorcycle taxi drivers that use Ampersand's bikes.

This move comes as BYD has positioned itself as a major battery supplier for other brands, including a recent deal to supply Ford and GM with batteries for their electric vehicles, further solidifying its position as a key player in the global electric vehicle industry.&nbsp;

Electric motorcycles may not be the first thing that comes to mind when thinking of BYD, the world's leading electric car maker. However, a new agreement will see the company's batteries making their way to Africa, where they will be used in Ampersand's electric motorcycles.

Electric motorcycles may not be the first thing that comes to mind when thinking of BYD, the world's leading electric car maker. However, a new agreement will see the company's batteries making their way to Africa, where they will be used in Ampersand's electric motorcycles. Ampersand is one of the leading electric motorcycle makers in Africa, contributing to the growing boom of two-wheeled electric vehicle production on the continent. The company currently operates in Rwanda and Kenya, making significant strides in the African electric vehicle industry. Ampersand's focus is on creating zero-emission electric motorcycles that offer an affordable and sustainable alternative to traditional internal combustion engine bikes, which are prevalent across the continent. This innovative approach addresses environmental concerns and provides practical solutions for the millions of motorcycle taxi riders who rely on these vehicles for their livelihood. Since its inception in 2016, Ampersand has built the largest electric motorcycle fleet in East Africa. Their current fleet of thousands of electric motorcycles has demonstrated the significant benefits of electrification to the local population, including cost savings on fuel and maintenance, improved air quality, and enhanced public health. However, if the company is expecting to reach its goal of surpassing 10,000 electric motorcycles produced by the end of this year, it's going to need a lot more batteries, and that's where BYD comes in. The two companies have just announced the signing of a Memorandum of Understanding that will see Ampersand purchase BYD's battery cells to produce around 40,000 electric motorcycles by the end of 2026. This move is particularly significant in the context of the crucial role that motorcycle taxis, commonly known as "boda bodas" in East Africa, play in the daily commute of millions of people, especially in urban areas where traffic congestion is a significant issue. Motorcycle taxis in Africa are a ubiquitous and vital mode of transportation. They are popular for their affordability and ease of navigating through dense traffic, serving as a primary source of income for many motorcycle riders. The motorcycle taxi industry provides employment to millions, offering a viable economic opportunity in regions with high unemployment rates. The prevalence of these taxis highlights their importance in facilitating mobility, supporting livelihoods, and driving local economies across Africa. However, the rising cost of fuel and the heavy maintenance load of combustion engine motorcycles have long been a difficulty faced by the industry, and electric motorcycles have sprung up in the last several years as a prudent alternative. BYD's lithium iron phosphate battery cells are particularly interesting to Ampersand for its motorcycles thanks to their track record for safety in the chemistry and much longer lifespan, both of which will be critical to commercial motorcycle taxi drivers that use Ampersand's bikes. This move comes as BYD has positioned itself as a major battery supplier for other brands, including a recent deal to supply Ford and GM with batteries for their electric vehicles, further solidifying its position as a key player in the global electric vehicle industry.

BYD EV batteries soon to power up electric motorcycles

Bombardier Recreational Products (BRP), a Canadian company known for its Can-Am UTVs and ATVs, Ski-Doo and Lynx snowmobiles, and Sea-Doo jet skis, continues to innovate across its extensive product line. Recently, it has been actively pursuing new patents, hinting at potential expansions in transportation offerings.

The following is an example of a recent and relevant patent BRP has been filed at the WIPO and the title of the invention is ‘Two-Door Vehicle’ and WO/2024/121813 is the application number of the same. This filing is similar to the one that was done to the US Patent and Trademark Office in 2022, and it demonstrates the operative plan of BRP in this area.

While constructing two-door UTVs has been a usual thing, this particular patent application has revealed rather interesting details. The only picture in the application looks rather like UTV; the car has an electric vehicle that uses the concept of skateboard chassis; and it might have the essence of many types of cars.

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Of particular importance is the door design that appeared to have the following characteristics based on the patent details. Introducing a new configuration where it come up with an articulated panel in addition to the forward part of the door. This door has a kind of ‘trap door’ which opens with hinged at the A – pillar and the mid of the main sliding door; the scenario whereby the entire door swings open to the outside was very much convenient when front seat occupants are to allow rear passengers to come in or get out of the car. One of this design innovation feature is that an internal door is fitted with handle permitting it to be operated from the front seat, and pulling the main door gently to the position as desired is feasible.

This patent focuses on the use of the skateboard pack configuration incorporating at least one electric motor in electric motor vehicles. It indicates possibilities in many subsegments that include subcompact, compact, small urban, coupes, hatchback, sedans, SUVs, and MPVs.

Although the patent application does not guarantee that its products would resemble a showroom, BRP’s advance thinking is consistent with its practice of innovation. BRP, in 2021, announced a USD 300 million plan to fully electrify its utility and all-terrain vehicles by 2026 to demonstrate its commitment to electric vehicle innovation. Despite the fact that BRP has not yet presented its first electric vehicle, there are many competitors, including producers from other countries, for example, the firm based in Minnesota, Polaris, which has already released their creations, for example, Ranger Kinetic XP. Interestingly, BRP was somewhat unexpected in the previous year when it launched two electric motorcycles under the Can-Am brand as the company was entering the two-wheel motorcycle industry again.

With these developments, BRP's foray into electric vehicles appears poised for expansion beyond its current product ranges, potentially heralding significant new entries into the market.

Bombardier Recreational Products (BRP), a Canadian company known for its Can-Am UTVs and ATVs, Ski-Doo and Lynx snowmobiles, and Sea-Doo jet skis, continues to innovate across its extensive product line.

Bombardier Recreational Products (BRP), a Canadian company known for its Can-Am UTVs and ATVs, Ski-Doo and Lynx snowmobiles, and Sea-Doo jet skis, continues to innovate across its extensive product line. Recently, it has been actively pursuing new patents, hinting at potential expansions in transportation offerings. The following is an example of a recent and relevant patent BRP has been filed at the WIPO and the title of the invention is ‘Two-Door Vehicle’ and WO/2024/121813 is the application number of the same. This filing is similar to the one that was done to the US Patent and Trademark Office in 2022, and it demonstrates the operative plan of BRP in this area. While constructing two-door UTVs has been a usual thing, this particular patent application has revealed rather interesting details. The only picture in the application looks rather like UTV; the car has an electric vehicle that uses the concept of skateboard chassis; and it might have the essence of many types of cars. Also Read: Watt Electric Vehicle Company launches new lightweight EV platform Of particular importance is the door design that appeared to have the following characteristics based on the patent details. Introducing a new configuration where it come up with an articulated panel in addition to the forward part of the door. This door has a kind of ‘trap door’ which opens with hinged at the A – pillar and the mid of the main sliding door; the scenario whereby the entire door swings open to the outside was very much convenient when front seat occupants are to allow rear passengers to come in or get out of the car. One of this design innovation feature is that an internal door is fitted with handle permitting it to be operated from the front seat, and pulling the main door gently to the position as desired is feasible. This patent focuses on the use of the skateboard pack configuration incorporating at least one electric motor in electric motor vehicles. It indicates possibilities in many subsegments that include subcompact, compact, small urban, coupes, hatchback, sedans, SUVs, and MPVs. Although the patent application does not guarantee that its products would resemble a showroom, BRP’s advance thinking is consistent with its practice of innovation. BRP, in 2021, announced a USD 300 million plan to fully electrify its utility and all-terrain vehicles by 2026 to demonstrate its commitment to electric vehicle innovation. Despite the fact that BRP has not yet presented its first electric vehicle, there are many competitors, including producers from other countries, for example, the firm based in Minnesota, Polaris, which has already released their creations, for example, Ranger Kinetic XP. Interestingly, BRP was somewhat unexpected in the previous year when it launched two electric motorcycles under the Can-Am brand as the company was entering the two-wheel motorcycle industry again. With these developments, BRP's foray into electric vehicles appears poised for expansion beyond its current product ranges, potentially heralding significant new entries into the market.

BRP refiles patent for two-door EV with a novel door hinge

Hyundai motor India ltd plans to launch four electric vehicle models in the near future, with the electric version of its popular Creta SUV expected by the last quarter of fiscal year 2025. This initiative is detailed in the company’s draft red herring prospectus filed with the securities and exchange board of India which coincides with Hyundai's preparation for an initial public offering.

Hyundai's 4 new EVs to boost India's economy

In the rapidly evolving electric vehicle (EV) market of China, NIO and its suppliers are taking significant strides. WeLion New Energy Technology, NIO’s semi-solid-state EV battery manufacturer, reported a 31% increase in installations last month. This surge coincides with NIO’s launch of its 150 kWh battery pack rental service for the ET7 model, boasting a range of over 1,000 km (621 miles) on the China Light-Duty Vehicle Test Cycle (CLTC).

NIO's ET7 and the 150 kWh battery pack

NIO introduced the ET7 in January 2021, featuring a groundbreaking 150 kWh semi-solid-state battery. After multiple delays, NIO now offers this battery pack for rent. The rental service began this month, aiming to provide flexible options for users and showcase the capabilities of NIO's advanced battery technology.

Testing the limits

To demonstrate the ET7's potential, NIO’s founder and CEO, Li Bin, undertook an endurance challenge. During a 14-hour live-streamed event, Li drove the ET7 for 1,044 km (650 miles) using the 150 kWh battery pack. He noted that with an additional 3% charge, the vehicle could have traveled another 36 km. Throughout 92% of the trip, the EV operated in intelligent mode, highlighting its efficiency and performance.

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WeLion's production scaling

With the introduction of the 150 kWh battery packs for rental, WeLion, NIO’s battery supplier, has ramped up production. According to the China Automotive Battery Innovation Alliance (CABIA), 482.9 MWh of semi-solid-state batteries were installed in China last month, marking a 30.9% increase from April 2024's 369 MWh. WeLion was the sole contributor to this growth, with its installations totaling 1,621.8 MWh through May.

Diverse applications beyond EVs

While WeLion's primary focus is supplying batteries for NIO's ET7, their semi-solid-state batteries also find applications in other sectors, including drones, robots, and various devices. This diversification underscores the versatility and growing demand for advanced battery technologies.

China's investment in battery innovation

As China aims to maintain its leadership in the global EV battery market, the country plans to invest approximately $827 million (RMB 6 billion) in all-solid-state battery research and development. Prominent industry players, including BYD, CATL, and WeLion, are expected to benefit from this funding. This investment highlights China's commitment to advancing battery technology and supporting its domestic manufacturers.

NIO's strategic battery advancements

NIO’s partnership with WeLion and the introduction of the 150 kWh semi-solid-state battery packs represent significant advancements in the EV industry. By offering these advanced batteries for rent, NIO provides a flexible solution for consumers while showcasing the potential of its technology. The successful endurance test by CEO Li Bin and the substantial increase in WeLion’s battery installations underscore the technological progress and market readiness of NIO’s innovations.

China's substantial investment in battery research and development further supports the growth and enhancement of EV technology. As NIO and its partners continue to innovate, they are poised to play a crucial role in shaping the future of the global EV market.

NIO’s strategic focus on advanced battery technology and flexible consumer options positions it as a key player in the competitive EV landscape. The company's commitment to innovation and efficiency reflects broader trends in the automotive industry, emphasizing sustainability and cutting-edge technological solutions.

In the rapidly evolving electric vehicle (EV) market of China, NIO and its suppliers are taking significant strides. WeLion New Energy Technology, NIO’s semi-solid-state EV battery manufacturer, reported a 31% increase in installations last month.

In the rapidly evolving electric vehicle (EV) market of China, NIO and its suppliers are taking significant strides. WeLion New Energy Technology, NIO’s semi-solid-state EV battery manufacturer, reported a 31% increase in installations last month. This surge coincides with NIO’s launch of its 150 kWh battery pack rental service for the ET7 model, boasting a range of over 1,000 km (621 miles) on the China Light-Duty Vehicle Test Cycle (CLTC). NIO's ET7 and the 150 kWh battery pack NIO introduced the ET7 in January 2021, featuring a groundbreaking 150 kWh semi-solid-state battery. After multiple delays, NIO now offers this battery pack for rent. The rental service began this month, aiming to provide flexible options for users and showcase the capabilities of NIO's advanced battery technology. Testing the limits To demonstrate the ET7's potential, NIO’s founder and CEO, Li Bin, undertook an endurance challenge. During a 14-hour live-streamed event, Li drove the ET7 for 1,044 km (650 miles) using the 150 kWh battery pack. He noted that with an additional 3% charge, the vehicle could have traveled another 36 km. Throughout 92% of the trip, the EV operated in intelligent mode, highlighting its efficiency and performance. Also read: Renault's Dacia aims to double sales and profitability by 2030 WeLion's production scaling With the introduction of the 150 kWh battery packs for rental, WeLion, NIO’s battery supplier, has ramped up production. According to the China Automotive Battery Innovation Alliance (CABIA), 482.9 MWh of semi-solid-state batteries were installed in China last month, marking a 30.9% increase from April 2024's 369 MWh. WeLion was the sole contributor to this growth, with its installations totaling 1,621.8 MWh through May. Diverse applications beyond EVs While WeLion's primary focus is supplying batteries for NIO's ET7, their semi-solid-state batteries also find applications in other sectors, including drones, robots, and various devices. This diversification underscores the versatility and growing demand for advanced battery technologies. China's investment in battery innovation As China aims to maintain its leadership in the global EV battery market, the country plans to invest approximately $827 million (RMB 6 billion) in all-solid-state battery research and development. Prominent industry players, including BYD, CATL, and WeLion, are expected to benefit from this funding. This investment highlights China's commitment to advancing battery technology and supporting its domestic manufacturers. NIO's strategic battery advancements NIO’s partnership with WeLion and the introduction of the 150 kWh semi-solid-state battery packs represent significant advancements in the EV industry. By offering these advanced batteries for rent, NIO provides a flexible solution for consumers while showcasing the potential of its technology. The successful endurance test by CEO Li Bin and the substantial increase in WeLion’s battery installations underscore the technological progress and market readiness of NIO’s innovations. China's substantial investment in battery research and development further supports the growth and enhancement of EV technology. As NIO and its partners continue to innovate, they are poised to play a crucial role in shaping the future of the global EV market. NIO’s strategic focus on advanced battery technology and flexible consumer options positions it as a key player in the competitive EV landscape. The company's commitment to innovation and efficiency reflects broader trends in the automotive industry, emphasizing sustainability and cutting-edge technological solutions.

NIO boosts China's EV market with new 150 kWh battery pack rental

The used electric vehicle (EV) market is undergoing a significant transformation as prices dip below those of their gasoline-powered counterparts. This shift, first observed in February, continues to deepen, reflecting changing consumer attitudes towards EVs.

In June 2023, used EV prices were 25% higher than those of used gasoline cars. By May this year, they were 8% lower, according to an analysis by iSeeCars. This analysis of 2.2 million one- to five-year-old used cars revealed that while gasoline vehicle prices dropped by 3-7% over the past year, EV prices plummeted by 30-39%.

"It's clear that used car shoppers will no longer pay a premium for electric vehicles," said Karl Brauer, executive analyst at iSeeCars. He noted that electric power has become a detractor in the consumer's mind, making EVs less desirable and therefore less valuable than traditional cars.

Consumer perception shifts

The significant price drop highlights a shift in consumer perception. More people are selling their used EVs, partially because the market is larger than ever before. In 2022, 176,918 used EVs were sold in the U.S., with over 45,000 sold in May alone. The increased availability of used EVs at lower prices is making them accessible to a broader market of potential first-time EV owners.

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Battery technology and depreciation concerns

Battery technology improvements have increased the range of new EV models, but concerns about battery degradation over time persist. Since 30-50% of an EV's value lies in its battery, this is a significant factor in the depreciation of used EVs. Despite this, EVs have lower overall ownership costs due to reduced fuel and maintenance expenses. Additionally, owners of used EVs can qualify for federal tax credits.

Tesla's price war impact

Tesla CEO Elon Musk's decision to cut prices has significantly impacted the market. In 2023, as demand slumped, Tesla slashed prices of its Model X, Y, and S vehicles. This move initiated an industry-wide price war, causing a ripple effect that led to declining prices for used EVs across the board. Scott Case, CEO of Recurrent, noted that the falling prices of used Teslas corresponded with new Tesla price drops, subsequently affecting prices of competing used EVs.

Hertz's EV strategy shift

In January, Hertz adjusted its aggressive EV strategy, selling off 20,000 EVs at its Hertz Car Sales locations. This amounted to one-third of its EV fleet, with used Teslas sold at a "no haggle" average price of $25,000 nationwide. This flood of used EVs into the market further contributed to declining prices.

Auto companies' strategic shifts

Declining demand and insufficient infrastructure have led many automakers to scale back aggressive EV rollouts. General Motors (GM) recently reduced its EV sales and production targets from 200,000-300,000 to 200,000-250,000. EVs accounted for less than 3% of GM's Q1 sales. Ford has also faced losses from its Model E electric vehicle rollout, despite a rise in combined hybrid and EV sales. Ford has rescinded a program requiring dealers to invest heavily in EV infrastructure to sell electric vehicles.

Infrastructure challenges and growth

Charging infrastructure remains in its early stages, posing an accessibility challenge for many Americans. According to the Department of Energy, there are over 64,000 publicly accessible EV charging stations in the U.S., with a total of 176,000 charging ports. While charging infrastructure has grown by 29% since the Inflation Reduction Act of 2022, which included tax incentives to adopt EVs, the U.S. still has roughly 145,000 gas stations.

A Pew Research analysis found that about six in 10 Americans live within two miles of a public charger, yet only 7% of these individuals would consider buying an EV. Most EV charging still occurs at home, and there are rural EV "deserts."

Consumer interest trends

A Gallup poll in April found a 3% annual increase in EV ownership but an equal percentage decline in serious interest in buying an EV, dropping from 12% to 9%. Overall, 35% of Americans said they might consider buying an EV in the future, down from 43% last year.

The decline in used EV prices reflects a complex interplay of consumer perception, technological advancements, and strategic shifts by automakers. As the market continues to evolve, it remains to be seen how these factors will shape the future of EV adoption.

The used electric vehicle (EV) market is undergoing a significant transformation as prices dip below those of their gasoline-powered counterparts. This shift, first observed in February, continues to deepen, reflecting changing consumer attitudes towards EVs.

The used electric vehicle (EV) market is undergoing a significant transformation as prices dip below those of their gasoline-powered counterparts. This shift, first observed in February, continues to deepen, reflecting changing consumer attitudes towards EVs. In June 2023, used EV prices were 25% higher than those of used gasoline cars. By May this year, they were 8% lower, according to an analysis by iSeeCars. This analysis of 2.2 million one- to five-year-old used cars revealed that while gasoline vehicle prices dropped by 3-7% over the past year, EV prices plummeted by 30-39%. "It's clear that used car shoppers will no longer pay a premium for electric vehicles," said Karl Brauer, executive analyst at iSeeCars. He noted that electric power has become a detractor in the consumer's mind, making EVs less desirable and therefore less valuable than traditional cars. Consumer perception shifts The significant price drop highlights a shift in consumer perception. More people are selling their used EVs, partially because the market is larger than ever before. In 2022, 176,918 used EVs were sold in the U.S., with over 45,000 sold in May alone. The increased availability of used EVs at lower prices is making them accessible to a broader market of potential first-time EV owners. Also read: Tesla unveils plans for three new EVs, but future of roadster uncertain Battery technology and depreciation concerns Battery technology improvements have increased the range of new EV models, but concerns about battery degradation over time persist. Since 30-50% of an EV's value lies in its battery, this is a significant factor in the depreciation of used EVs. Despite this, EVs have lower overall ownership costs due to reduced fuel and maintenance expenses. Additionally, owners of used EVs can qualify for federal tax credits. Tesla's price war impact Tesla CEO Elon Musk's decision to cut prices has significantly impacted the market. In 2023, as demand slumped, Tesla slashed prices of its Model X, Y, and S vehicles. This move initiated an industry-wide price war, causing a ripple effect that led to declining prices for used EVs across the board. Scott Case, CEO of Recurrent, noted that the falling prices of used Teslas corresponded with new Tesla price drops, subsequently affecting prices of competing used EVs. Hertz's EV strategy shift In January, Hertz adjusted its aggressive EV strategy, selling off 20,000 EVs at its Hertz Car Sales locations. This amounted to one-third of its EV fleet, with used Teslas sold at a "no haggle" average price of $25,000 nationwide. This flood of used EVs into the market further contributed to declining prices. Auto companies' strategic shifts Declining demand and insufficient infrastructure have led many automakers to scale back aggressive EV rollouts. General Motors (GM) recently reduced its EV sales and production targets from 200,000-300,000 to 200,000-250,000. EVs accounted for less than 3% of GM's Q1 sales. Ford has also faced losses from its Model E electric vehicle rollout, despite a rise in combined hybrid and EV sales. Ford has rescinded a program requiring dealers to invest heavily in EV infrastructure to sell electric vehicles. Infrastructure challenges and growth Charging infrastructure remains in its early stages, posing an accessibility challenge for many Americans. According to the Department of Energy, there are over 64,000 publicly accessible EV charging stations in the U.S., with a total of 176,000 charging ports. While charging infrastructure has grown by 29% since the Inflation Reduction Act of 2022, which included tax incentives to adopt EVs, the U.S. still has roughly 145,000 gas stations. A Pew Research analysis found that about six in 10 Americans live within two miles of a public charger, yet only 7% of these individuals would consider buying an EV. Most EV charging still occurs at home, and there are rural EV "deserts." Consumer interest trends A Gallup poll in April found a 3% annual increase in EV ownership but an equal percentage decline in serious interest in buying an EV, dropping from 12% to 9%. Overall, 35% of Americans said they might consider buying an EV in the future, down from 43% last year. The decline in used EV prices reflects a complex interplay of consumer perception, technological advancements, and strategic shifts by automakers. As the market continues to evolve, it remains to be seen how these factors will shape the future of EV adoption.

Used EV prices plummet below gas cars amid changing consumer preferences

As the European Union (EU) unveiled tariff hikes on Chinese electric cars, reaching up to 48% starting next month, China finds itself in a precarious position, with limited options to retaliate without risking a full-scale trade war. The EU's move aligns with actions taken by the United States, Turkey, and other nations to curb the influx of Chinese imports. In response, China's Commerce Ministry and its chamber of commerce in the EU vehemently criticised the EU's decision.

While China may feel compelled to retaliate to discourage further trade-protection measures worldwide, it must tread carefully to avoid inadvertently strengthening trans-Atlantic cooperation against its interests. President Xi Jinping has been working to promote "strategic autonomy" in Europe, and an overly aggressive response could undermine these efforts. As Joe Peissel, an economic analyst at Trivium China, notes, "If China responds in kind with aggressive tariffs, they risk triggering a trade war. Beijing is desperate to avoid that."

China is already grappling with the potential for increased trade tensions with the United States, as former President Donald Trump, known for his multiple rounds of tariff hikes on Chinese goods during his first term, leads in some polls for the upcoming November election. Moreover, under President Joe Biden, advanced economies have increasingly coordinated their efforts against China, with the Group of Seven recently calling out the nation by name for distorting the global economy.

Experts predict that China's retaliation will likely target agricultural products such as cheese and pork. In fact, Chinese firms have already filed a formal request for an anti-dumping investigation into pork imports from the EU, which could significantly impact Spain, the largest EU supplier of meat to China. Additionally, state-run media have hinted at the possibility of Beijing imposing tariffs as high as 25% on imported cars with large engines, a move that would affect a small portion of German carmakers' sales in the country.

However, as Jacob Gunter, a lead analyst at Merics, a Berlin-based research institute focusing on China, points out, "Beijing won't target the EU products it still needs." These products include machinery, high-quality industrial inputs, chemicals, and medical technology items.

The impact of the EU's tariff hikes may also be limited, as the efficiency of Chinese carmakers suggests they can still turn a profit even with the new tariffs in place. Furthermore, Chinese companies are rapidly establishing factories in Europe, which would mitigate the impact of measures on imports.

Ja Ian Chong, an associate professor of political science at the National University of Singapore, suggests that "Beijing probably wants to avoid a tariff war while continuing to enable its EVs to enter the European market. An overreaction could jeopardise both aims." Chong also notes that retaliatory moves could be tailored to target specific EU members or even particular districts to exert pressure.

Despite China's strident opposition and the Commerce Ministry's demand for the EU to correct its "mistake," there may still be room for negotiation. Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, suggests that "there's still space for negotiation. The final decisions will be made in a few months, so there's still time. Even after the tariffs are levied, it is still possible to coordinate positions."

China may also consider offering various incentives, such as the potential sale of Airbus SE aircraft to China, which is currently under negotiation. However, as Alicia Garcia Herrero, chief Asia Pacific economist at Natixis SA, warns, "This is just the beginning. China won't retaliate right away but eventually they will find a way."

As tensions continue to mount, the world watches closely to see how China will navigate this delicate situation, balancing its desire to protect its interests with the need to avoid a full-blown trade war with the EU. 
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As the European Union (EU) unveiled tariff hikes on Chinese electric cars, reaching up to 48% starting next month, China finds itself in a precarious position, with limited options to retaliate without risking a full-scale trade war.

As the European Union (EU) unveiled tariff hikes on Chinese electric cars, reaching up to 48% starting next month, China finds itself in a precarious position, with limited options to retaliate without risking a full-scale trade war. The EU's move aligns with actions taken by the United States, Turkey, and other nations to curb the influx of Chinese imports. In response, China's Commerce Ministry and its chamber of commerce in the EU vehemently criticised the EU's decision. While China may feel compelled to retaliate to discourage further trade-protection measures worldwide, it must tread carefully to avoid inadvertently strengthening trans-Atlantic cooperation against its interests. President Xi Jinping has been working to promote "strategic autonomy" in Europe, and an overly aggressive response could undermine these efforts. As Joe Peissel, an economic analyst at Trivium China, notes, "If China responds in kind with aggressive tariffs, they risk triggering a trade war. Beijing is desperate to avoid that." China is already grappling with the potential for increased trade tensions with the United States, as former President Donald Trump, known for his multiple rounds of tariff hikes on Chinese goods during his first term, leads in some polls for the upcoming November election. Moreover, under President Joe Biden, advanced economies have increasingly coordinated their efforts against China, with the Group of Seven recently calling out the nation by name for distorting the global economy. Experts predict that China's retaliation will likely target agricultural products such as cheese and pork. In fact, Chinese firms have already filed a formal request for an anti-dumping investigation into pork imports from the EU, which could significantly impact Spain, the largest EU supplier of meat to China. Additionally, state-run media have hinted at the possibility of Beijing imposing tariffs as high as 25% on imported cars with large engines, a move that would affect a small portion of German carmakers' sales in the country. However, as Jacob Gunter, a lead analyst at Merics, a Berlin-based research institute focusing on China, points out, "Beijing won't target the EU products it still needs." These products include machinery, high-quality industrial inputs, chemicals, and medical technology items. The impact of the EU's tariff hikes may also be limited, as the efficiency of Chinese carmakers suggests they can still turn a profit even with the new tariffs in place. Furthermore, Chinese companies are rapidly establishing factories in Europe, which would mitigate the impact of measures on imports. Ja Ian Chong, an associate professor of political science at the National University of Singapore, suggests that "Beijing probably wants to avoid a tariff war while continuing to enable its EVs to enter the European market. An overreaction could jeopardise both aims." Chong also notes that retaliatory moves could be tailored to target specific EU members or even particular districts to exert pressure. Despite China's strident opposition and the Commerce Ministry's demand for the EU to correct its "mistake," there may still be room for negotiation. Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, suggests that "there's still space for negotiation. The final decisions will be made in a few months, so there's still time. Even after the tariffs are levied, it is still possible to coordinate positions." China may also consider offering various incentives, such as the potential sale of Airbus SE aircraft to China, which is currently under negotiation. However, as Alicia Garcia Herrero, chief Asia Pacific economist at Natixis SA, warns, "This is just the beginning. China won't retaliate right away but eventually they will find a way." As tensions continue to mount, the world watches closely to see how China will navigate this delicate situation, balancing its desire to protect its interests with the need to avoid a full-blown trade war with the EU.

China weighs measured response to EU's EV tariffs

In a strategic shift, Ford Motor Co. has announced that all its dealers will soon be able to sell electric vehicles (EVs), a move aimed at boosting slower-than-expected EV sales. This change, effective from July 1, marks a significant departure from Ford's previous selective allocation system.

In late 2022, Ford introduced stringent requirements for dealers wishing to sell its EVs, including models like the F-150 Lightning and Mustang Mach-E. Dealers were required to invest between $500,000 to $1 million in charging infrastructure and training programs. These investments were meant to ensure that dealers could adequately support EV sales and educate customers about the new technology. Approximately half of Ford’s 2,800 dealers enrolled in this program.

Rationale behind the change

Marin Gjaja, Chief Operating Officer for Ford’s EV business, explained the reasoning behind the new approach. "We want to make these great vehicles more accessible to everyone," he stated. Gjaja emphasised that simplifying the process of introducing EVs could help remove perceived barriers for both dealers and customers.

Dealers had previously been required to meet specific training standards and install chargers to prepare their staff for the complexities of EV ownership. Ford CEO Jim Farley had stressed that dealers would be held to high standards to remain competitive and serve customers effectively during the transition to EVs.

Also read:&nbsp;<a href="https://www.wionews.com/autonews/tesla-reinstates-fsd-transfers-for-another-quarter-731592">Tesla reinstates FSD transfers for another quarter</a>

Challenges in the EV transition

The transition to EVs has proven to be more challenging than many automotive executives anticipated. While Ford has prioritised the production of hybrid vehicles, their sales growth has outpaced that of pure EVs. From 2022 to 2023, Ford’s hybrid sales increased by 25.3%, whereas EV sales grew by only 17.9%.

New players in the EV market, like Tesla, sell directly to consumers, bypassing traditional dealerships and gaining a financial edge over legacy automakers. Farley has noted that Ford spends about $2,000 more per vehicle than Tesla due to its franchise dealer model.

Dealer reactions

The new policy has received mixed reactions from dealers. Those who invested heavily in the required infrastructure feel let down by the sudden policy reversal. Some dealers have struggled to move EVs off their lots and are even refusing shipments of new electric models due to the difficulty of selling them at a profit.

Scott Kunes, Chief Operating Officer of a Midwest dealer group that sells Ford vehicles, expressed his concerns. His group invested in the necessary infrastructure only at their two largest locations in Wisconsin and Illinois, anticipating limited demand for EVs. "The dealers have been kind of screaming from the sidelines for a while here that the EV demand is just not there," Kunes said. While he appreciates Ford's decision to make EVs available to all dealers, he believes it comes too late to address the challenges dealers face.

Looking ahead

Ford's decision to allow all dealers to sell EVs reflects an ongoing adjustment to market realities. By broadening access to EVs, Ford aims to accelerate sales and enhance customer adoption of electric vehicles. However, the company must also address the concerns of dealers who have invested significant resources under the previous program.

As the automotive industry continues to evolve, Ford’s move highlights the balancing act between innovation and practicality. The success of this strategy will depend on how well Ford can support its dealers and customers through the transition to electric mobility.

(Inputs from Reuters)

In a strategic shift, Ford Motor Co. has announced that all its dealers will soon be able to sell electric vehicles (EVs), a move aimed at boosting slower-than-expected EV sales.

In a strategic shift, Ford Motor Co. has announced that all its dealers will soon be able to sell electric vehicles (EVs), a move aimed at boosting slower-than-expected EV sales. This change, effective from July 1, marks a significant departure from Ford's previous selective allocation system. In late 2022, Ford introduced stringent requirements for dealers wishing to sell its EVs, including models like the F-150 Lightning and Mustang Mach-E. Dealers were required to invest between $500,000 to $1 million in charging infrastructure and training programs. These investments were meant to ensure that dealers could adequately support EV sales and educate customers about the new technology. Approximately half of Ford’s 2,800 dealers enrolled in this program. Rationale behind the change Marin Gjaja, Chief Operating Officer for Ford’s EV business, explained the reasoning behind the new approach. "We want to make these great vehicles more accessible to everyone," he stated. Gjaja emphasised that simplifying the process of introducing EVs could help remove perceived barriers for both dealers and customers. Dealers had previously been required to meet specific training standards and install chargers to prepare their staff for the complexities of EV ownership. Ford CEO Jim Farley had stressed that dealers would be held to high standards to remain competitive and serve customers effectively during the transition to EVs. Also read: Tesla reinstates FSD transfers for another quarter Challenges in the EV transition The transition to EVs has proven to be more challenging than many automotive executives anticipated. While Ford has prioritised the production of hybrid vehicles, their sales growth has outpaced that of pure EVs. From 2022 to 2023, Ford’s hybrid sales increased by 25.3%, whereas EV sales grew by only 17.9%. New players in the EV market, like Tesla, sell directly to consumers, bypassing traditional dealerships and gaining a financial edge over legacy automakers. Farley has noted that Ford spends about $2,000 more per vehicle than Tesla due to its franchise dealer model. Dealer reactions The new policy has received mixed reactions from dealers. Those who invested heavily in the required infrastructure feel let down by the sudden policy reversal. Some dealers have struggled to move EVs off their lots and are even refusing shipments of new electric models due to the difficulty of selling them at a profit. Scott Kunes, Chief Operating Officer of a Midwest dealer group that sells Ford vehicles, expressed his concerns. His group invested in the necessary infrastructure only at their two largest locations in Wisconsin and Illinois, anticipating limited demand for EVs. "The dealers have been kind of screaming from the sidelines for a while here that the EV demand is just not there," Kunes said. While he appreciates Ford's decision to make EVs available to all dealers, he believes it comes too late to address the challenges dealers face. Looking ahead Ford's decision to allow all dealers to sell EVs reflects an ongoing adjustment to market realities. By broadening access to EVs, Ford aims to accelerate sales and enhance customer adoption of electric vehicles. However, the company must also address the concerns of dealers who have invested significant resources under the previous program. As the automotive industry continues to evolve, Ford’s move highlights the balancing act between innovation and practicality. The success of this strategy will depend on how well Ford can support its dealers and customers through the transition to electric mobility. (Inputs from Reuters)

Ford reverses course, allows all dealers to sell EVs amid slower sales

The European Commission has announced it will impose additional tariffs of up to 38.1 percent on imported chinese electric vehicles starting in July. This decision aims to combat what brussels describes as excessive subsidies provided to Chinese carmakers. Take a look at this next report for more on this.

China warns of retaliation as EU targets subsidised EVs

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EU hits China EVs with upto 38% tariffs | South Korea: Google, Apple fined

The Rimac Nevera's reign as the fastest electric vehicle has come to an end. The newly developed SP600, created by the Japanese technology company Aspark, has now claimed the title of the world's fastest electric vehicle.

On a recent Saturday, this endurance-style hypercar achieved an astonishing top speed of 438.7 km/h. This remarkable feat surpassed the Croatian competitor by more than 26 km/h. The record-breaking run took place at the same proving ground in Papenburg, Germany, where the Nevera had previously set its own record in 2022. It's worth noting that the Nevera had also established 23 other electric vehicle speed records in a single day at this very location last year.

Behind the wheel of the SP600 was professional driver Marc Basseng, a winner of the prestigious 24 Hours of Nürburgring race. Basseng is no stranger to high-speed achievements, having set a record lap at the Nürburgring in 2010 while driving a Pagani Zonda R. For those curious about the experience of driving at such extreme speeds, a video captured from inside the car during the record-breaking run is available for viewing.

The Aspark SP600 is a production-intent prototype that draws its inspiration from the Owl, a hypercar with a price tag of 2.9 million euros. The SP600 is manufactured in Italy by Manifattura Automobili Torino (M.A.T.), a company that also handled the virtual and physical testing of the vehicle, as well as wind tunnel optimisations to enhance its aerodynamic performance.

To achieve its record-breaking speed, the SP600 rides on specially designed Bridgestone Potenza Race tires. In a nod to aerodynamic efficiency, the vehicle does not have side mirrors, which means it is not yet street-legal. The powertrain of the SP600 is truly impressive, featuring four electric motors that collectively produce a staggering 1,984 horsepower and 1,475 lb-ft of torque. This immense power allows the car to accelerate from 0 to 100 km/h in less than 1.7 seconds, a truly mind-boggling feat.

While the Aspark SP600 now holds the title for the fastest electric vehicle, it's important to note that it is not the overall fastest road-going car in the world. That honour still officially belongs to the Bugatti Chiron Super Sport, which achieved a top speed of 490.5 km/h in 2019. However, the competition for the title of the world's fastest car continues to heat up. Both Koenigsegg and Hennessey have plans to challenge this record later in 2024 with their respective models, the Jesko Absolut and the Venom F5.

The Rimac Nevera's reign as the fastest electric vehicle has come to an end. The newly developed SP600, created by the Japanese technology company Aspark, has now claimed the title of the world's fastest electric vehicle.

The Rimac Nevera's reign as the fastest electric vehicle has come to an end. The newly developed SP600, created by the Japanese technology company Aspark, has now claimed the title of the world's fastest electric vehicle. On a recent Saturday, this endurance-style hypercar achieved an astonishing top speed of 438.7 km/h. This remarkable feat surpassed the Croatian competitor by more than 26 km/h. The record-breaking run took place at the same proving ground in Papenburg, Germany, where the Nevera had previously set its own record in 2022. It's worth noting that the Nevera had also established 23 other electric vehicle speed records in a single day at this very location last year. Behind the wheel of the SP600 was professional driver Marc Basseng, a winner of the prestigious 24 Hours of Nürburgring race. Basseng is no stranger to high-speed achievements, having set a record lap at the Nürburgring in 2010 while driving a Pagani Zonda R. For those curious about the experience of driving at such extreme speeds, a video captured from inside the car during the record-breaking run is available for viewing. The Aspark SP600 is a production-intent prototype that draws its inspiration from the Owl, a hypercar with a price tag of 2.9 million euros. The SP600 is manufactured in Italy by Manifattura Automobili Torino (M.A.T.), a company that also handled the virtual and physical testing of the vehicle, as well as wind tunnel optimisations to enhance its aerodynamic performance. To achieve its record-breaking speed, the SP600 rides on specially designed Bridgestone Potenza Race tires. In a nod to aerodynamic efficiency, the vehicle does not have side mirrors, which means it is not yet street-legal. The powertrain of the SP600 is truly impressive, featuring four electric motors that collectively produce a staggering 1,984 horsepower and 1,475 lb-ft of torque. This immense power allows the car to accelerate from 0 to 100 km/h in less than 1.7 seconds, a truly mind-boggling feat. While the Aspark SP600 now holds the title for the fastest electric vehicle, it's important to note that it is not the overall fastest road-going car in the world. That honour still officially belongs to the Bugatti Chiron Super Sport, which achieved a top speed of 490.5 km/h in 2019. However, the competition for the title of the world's fastest car continues to heat up. Both Koenigsegg and Hennessey have plans to challenge this record later in 2024 with their respective models, the Jesko Absolut and the Venom F5.

Aspark's SP600 prototype shatters world EV speed record

With increasing concerns about climate change, there is a rising demand for eco-friendly transportation alternatives. Electric vehicles (EVs) have garnered attention as a cleaner option compared to traditional petrol and diesel cars due to their reduced greenhouse gas emissions, but a report claimed otherwise.&nbsp;

The <a href="https://www.emissionsanalytics.com/news/gaining-traction-losing-tread#:~:text=The%20headline%20conclusion%20we%20draw,previous%20figure%20for%20aggressive%20driving.">report</a> published by Emission Analytics, a firm specialising in emissions data analysis, challenged the prevailing belief regarding the environmental superiority of EVs. The report touched upon the issue of particle pollution originating from brakes and tyres in both electric and fossil fuel-powered vehicles. The report was&nbsp;featured in a Wall Street Journal op-ed.&nbsp;

The report, titled "Gaining traction, losing tread: Pollution from tyre wear now 1,850 times worse than exhaust emissions", talked about research it had filed in early 2020 claiming that tyre particulate wear emissions were 1,000 times worse than exhaust emissions.&nbsp;

In the report, Emission Analytics compared real-world tailpipe particulate mass emissions to tire wear emissions in "normal" driving. It claimed that the latter is actually around 1,850 times greater than the former.&nbsp;

However, this claim appears to be untrue. A <a href="https://science.feedback.org/review/electric-vehicles-may-have-higher-particulate-emissions-from-tires-but-usually-have-lower-particulate-emissions-from-other-sources/?fbclid=IwZXh0bgNhZW0CMTAAAR10GC1Mvm1VbiB0gUJV89TlH0xzF4H3VDPA8isssipiNviDOqsaapfeXAo_aem_AbDNiVGfP3hiUACTjAvF2Yj6gdTzpL1gO0L9zY4hhgimc7jDZjThVE1gh-IQO3GRQIs8uiFmoeIdWfdql-Ute6Ch">fact-check report</a> by Science Feedback said that the particulate emissions of electric vehicles are "still poorly studied" and experimental comparisons of particulate emissions, mentioned in the Emission Analytics report, remain scarce.&nbsp;

<h2>What did the Emission Analytics report claim?&nbsp;</h2>

The report claimed that EVs, owing to their heavier weight, may emit significantly higher levels of particulate matter from brakes and tyres compared to modern gas-powered vehicles equipped with efficient exhaust filters. It could be as much as 1,850 times greater, it claimed.&nbsp;

Emission Analytics also tried to highlight the concern over tyre wear, attributing it to the heavier weight of EVs which accelerates tyre deterioration and releases harmful chemicals into the atmosphere. It said that the degradation is primarily linked to the synthetic rubber composition of most tyres, derived from crude oil.&nbsp;

Another significant aspect highlighted in the report is the impact of battery weight on EVs. As EVs typically feature heavier batteries compared to traditional petrol engines, this additional weight exerts greater strain on brakes and tyres, hastening wear and tear.&nbsp;

<h2>Is this claim even true?&nbsp;</h2>

Science Feedback said in its fact-check that the company has not released a more detailed methodology and also, the report hasn't been peer-reviewed or published in the scientific literature.&nbsp;

"Without a detailed methodology, it is impossible for other groups to reproduce and verify Emissions Analytics’ results. In the absence of peer review, it is very difficult to assess the credibility of Emission Analytics' study," it said.&nbsp;

Also watch |&nbsp;India: Are electric vehicles safe? | Tech It Out

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-are-electric-vehicles-safe-tech-it-out-509155/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"More extreme versions of the claim state that electric vehicles emit 1,850 times more "pollutants" than gasoline-powered vehicles. This completely misrepresents the study, which compared the amount of particulate emissions coming from tires and tailpipes. It also contradicts available measurements of other vehicle pollutants like CO2," Science Feedback explained in its report.&nbsp;

Note: Earlier version of this article didn't include the fact-check claim by Science Feedback.&nbsp;

(With inputs from agencies)

With increasing concerns about climate change, there is a rising demand for eco-friendly transportation alternatives. Electric vehicles (EVs) have garnered attention as a cleaner option compared to traditional petrol and diesel cars due to their reduced greenhouse gas emissions, but a report claimed otherwise.

With increasing concerns about climate change, there is a rising demand for eco-friendly transportation alternatives. Electric vehicles (EVs) have garnered attention as a cleaner option compared to traditional petrol and diesel cars due to their reduced greenhouse gas emissions, but a report claimed otherwise. The report published by Emission Analytics, a firm specialising in emissions data analysis, challenged the prevailing belief regarding the environmental superiority of EVs. The report touched upon the issue of particle pollution originating from brakes and tyres in both electric and fossil fuel-powered vehicles. The report was featured in a Wall Street Journal op-ed. The report, titled "Gaining traction, losing tread: Pollution from tyre wear now 1,850 times worse than exhaust emissions", talked about research it had filed in early 2020 claiming that tyre particulate wear emissions were 1,000 times worse than exhaust emissions. In the report, Emission Analytics compared real-world tailpipe particulate mass emissions to tire wear emissions in "normal" driving. It claimed that the latter is actually around 1,850 times greater than the former. However, this claim appears to be untrue. A fact-check report by Science Feedback said that the particulate emissions of electric vehicles are "still poorly studied" and experimental comparisons of particulate emissions, mentioned in the Emission Analytics report, remain scarce. What did the Emission Analytics report claim? The report claimed that EVs, owing to their heavier weight, may emit significantly higher levels of particulate matter from brakes and tyres compared to modern gas-powered vehicles equipped with efficient exhaust filters. It could be as much as 1,850 times greater, it claimed. Emission Analytics also tried to highlight the concern over tyre wear, attributing it to the heavier weight of EVs which accelerates tyre deterioration and releases harmful chemicals into the atmosphere. It said that the degradation is primarily linked to the synthetic rubber composition of most tyres, derived from crude oil. Another significant aspect highlighted in the report is the impact of battery weight on EVs. As EVs typically feature heavier batteries compared to traditional petrol engines, this additional weight exerts greater strain on brakes and tyres, hastening wear and tear. Is this claim even true? Science Feedback said in its fact-check that the company has not released a more detailed methodology and also, the report hasn't been peer-reviewed or published in the scientific literature. "Without a detailed methodology, it is impossible for other groups to reproduce and verify Emissions Analytics’ results. In the absence of peer review, it is very difficult to assess the credibility of Emission Analytics' study," it said. Also watch | India: Are electric vehicles safe? | Tech It Out "More extreme versions of the claim state that electric vehicles emit 1,850 times more "pollutants" than gasoline-powered vehicles. This completely misrepresents the study, which compared the amount of particulate emissions coming from tires and tailpipes. It also contradicts available measurements of other vehicle pollutants like CO2," Science Feedback explained in its report. Note: Earlier version of this article didn't include the fact-check claim by Science Feedback. (With inputs from agencies)

EVs may have higher particulate emissions from tires, but less exhaust particulates than petrol, diesel cars

The United States government's aggressive push towards all-electric vehicles (EVs) is facing scrutiny due to several unintended consequences that could impact the automotive industry and consumers alike. This move, driven by a mix of regulatory incentives and environmental goals, has hit several roadblocks, raising questions about its feasibility and long-term effects.

The automotive sector heavily relies on government regulations to shape its trajectory, especially in the context of EV proliferation. Government mandates and subsidies have encouraged automakers to pivot towards electric vehicles, aiming to meet stringent emissions standards and benefit from financial incentives. However, this transition has brought to light significant challenges that need addressing.

Economic and infrastructure challenges

One of the primary issues is the economic viability of EVs. While automakers have focused on larger SUVs and pickups to maximize profits and comply with emissions regulations, this has led to higher vehicle prices. Many households find these models unaffordable, exacerbating the problem of declining annual vehicle sales. EVs, despite their environmental benefits, face similar economic hurdles due to their high production costs and premium pricing.

Infrastructure also poses a significant challenge. The current state of electrical grids and charging infrastructures in many regions is inadequate to support a complete shift to EVs. Many EV owners struggle with limited charging options, particularly away from home. This lack of accessible and reliable charging infrastructure hampers the practicality of owning an EV as a household's only vehicle.

Also read:&nbsp;<a href="https://www.wionews.com/autonews/toyota-mazda-halt-vehicle-shipments-amid-safety-test-scandal-728491">Toyota, Mazda halt vehicle shipments amid safety test scandal</a>

Declining fuel tax revenues and proposed solutions

Another unintended consequence of the shift to EVs is the potential loss of fuel tax revenues, which fund a substantial portion of roadway maintenance. As more drivers switch to electric vehicles, the traditional revenue model based on fuel taxes becomes less effective. Governments are considering alternative funding mechanisms, such as per-mile taxes on all vehicles or increased toll roads, but these proposals face resistance from motorists.

Industry response and legislative involvement

Sensing the shifting landscape, the automotive lobby is eager to influence the legislative process to ensure that new regulations consider the industry's needs. Automakers require significant lead times to develop and release new models, and sudden regulatory changes could disrupt their plans. The industry's involvement in legislative discussions is crucial to avoid unforeseen consequences that could affect production and profitability.

Internal industry conflicts

The push towards electrification has also highlighted rifts within the automotive industry. Some brands, like Toyota, Mazda, and Subaru, have opted to focus on hybrid vehicles, balancing regulatory compliance with consumer demand for traditional models. This approach contrasts with companies fully committed to EVs, creating competition and tension within the industry.

Dealerships, too, face challenges with the transition. Many states mandate franchised dealerships for vehicle sales, a model at odds with the direct sales approach popularized by Tesla. Dealers are also concerned about the impact of EV sales on their business, especially in states like California, which plans to mandate all new-vehicle sales to be zero-emission by 2035.

Broader implications and future directions

The broader implications of the EV push extend beyond automakers to related industries. EV charging companies, for example, stand to benefit from legislation promoting charging infrastructure in apartment complexes, office buildings, and multi-family homes. Government grants have already been issued to support the installation of charging stations, but the effectiveness of these measures remains to be seen.

Despite these challenges, the automotive industry has invested heavily in electrification. Many companies are on development paths that lock them into producing EVs for the foreseeable future. This investment pressure compels them to seek continued government support to achieve their goals, even if consumer demand and market conditions do not fully align with these ambitions.

The United States' push towards all-electric vehicles, while environmentally motivated, faces significant economic, infrastructural, and legislative challenges. The automotive industry must navigate these complexities to ensure a smooth transition. Continued dialogue between automakers, legislators, and consumers will be essential to address these issues and develop sustainable solutions for the future of transportation.

The United States government's aggressive push towards all-electric vehicles (EVs) is facing scrutiny due to several unintended consequences that could impact the automotive industry and consumers alike.

The United States government's aggressive push towards all-electric vehicles (EVs) is facing scrutiny due to several unintended consequences that could impact the automotive industry and consumers alike. This move, driven by a mix of regulatory incentives and environmental goals, has hit several roadblocks, raising questions about its feasibility and long-term effects. The automotive sector heavily relies on government regulations to shape its trajectory, especially in the context of EV proliferation. Government mandates and subsidies have encouraged automakers to pivot towards electric vehicles, aiming to meet stringent emissions standards and benefit from financial incentives. However, this transition has brought to light significant challenges that need addressing. Economic and infrastructure challenges One of the primary issues is the economic viability of EVs. While automakers have focused on larger SUVs and pickups to maximize profits and comply with emissions regulations, this has led to higher vehicle prices. Many households find these models unaffordable, exacerbating the problem of declining annual vehicle sales. EVs, despite their environmental benefits, face similar economic hurdles due to their high production costs and premium pricing. Infrastructure also poses a significant challenge. The current state of electrical grids and charging infrastructures in many regions is inadequate to support a complete shift to EVs. Many EV owners struggle with limited charging options, particularly away from home. This lack of accessible and reliable charging infrastructure hampers the practicality of owning an EV as a household's only vehicle. Also read: Toyota, Mazda halt vehicle shipments amid safety test scandal Declining fuel tax revenues and proposed solutions Another unintended consequence of the shift to EVs is the potential loss of fuel tax revenues, which fund a substantial portion of roadway maintenance. As more drivers switch to electric vehicles, the traditional revenue model based on fuel taxes becomes less effective. Governments are considering alternative funding mechanisms, such as per-mile taxes on all vehicles or increased toll roads, but these proposals face resistance from motorists. Industry response and legislative involvement Sensing the shifting landscape, the automotive lobby is eager to influence the legislative process to ensure that new regulations consider the industry's needs. Automakers require significant lead times to develop and release new models, and sudden regulatory changes could disrupt their plans. The industry's involvement in legislative discussions is crucial to avoid unforeseen consequences that could affect production and profitability. Internal industry conflicts The push towards electrification has also highlighted rifts within the automotive industry. Some brands, like Toyota, Mazda, and Subaru, have opted to focus on hybrid vehicles, balancing regulatory compliance with consumer demand for traditional models. This approach contrasts with companies fully committed to EVs, creating competition and tension within the industry. Dealerships, too, face challenges with the transition. Many states mandate franchised dealerships for vehicle sales, a model at odds with the direct sales approach popularized by Tesla. Dealers are also concerned about the impact of EV sales on their business, especially in states like California, which plans to mandate all new-vehicle sales to be zero-emission by 2035. Broader implications and future directions The broader implications of the EV push extend beyond automakers to related industries. EV charging companies, for example, stand to benefit from legislation promoting charging infrastructure in apartment complexes, office buildings, and multi-family homes. Government grants have already been issued to support the installation of charging stations, but the effectiveness of these measures remains to be seen. Despite these challenges, the automotive industry has invested heavily in electrification. Many companies are on development paths that lock them into producing EVs for the foreseeable future. This investment pressure compels them to seek continued government support to achieve their goals, even if consumer demand and market conditions do not fully align with these ambitions. The United States' push towards all-electric vehicles, while environmentally motivated, faces significant economic, infrastructural, and legislative challenges. The automotive industry must navigate these complexities to ensure a smooth transition. Continued dialogue between automakers, legislators, and consumers will be essential to address these issues and develop sustainable solutions for the future of transportation.

U.S. government's EV push faces backlash over unintended consequences

China is planning to take it up a notch concerning EV battery technology. The country is reportedly planning to invest up to six billion yuan ($828 million) in the development of a more powerful &amp; advanced EV battery technology, according to media outlet China Daily.

According to the report, the Chinese government has roped in a few key players in the space like Contemporary Amperex Technology Co. Limited (CATL), the world’s largest battery manufacturer, and automotive companies like BYD and the Zhejiang Geely Holding Group, among others, to lead the program, which was launched earlier this year and is focused purely on advancing the development of solid-state battery technology.

Compared to the current mainstream Lithium-ion battery technology, solid-state batteries are considered to be superior primarily due to their higher power density, durability, and faster charge time. However, to scale up the latter for use in mainstream EVs is not only a technological challenge but significantly costly as well. Full-scale commercialisation of solid-state batteries for use in the EV industry is still pegged to be years away. Given their high production cost, these batteries could initially be restricted to high-end performance/luxury vehicles only.

Also Read: <a href="https://www.wionews.com/autonews/eu-delays-decision-on-chinese-ev-tariffs-amid-election-concerns-726913">EU delays decision on Chinese EV tariffs amid election concerns</a>

This news has come out at a sensitive time for global trade relations. Chinese EVs are currently under the radar in the European Union (EU) and the U.S., the latter having accused China of exporting excess inventory as it faces a slowdown in domestic demand. A Reuters report claims the Chinese foreign ministry has even urged the EU Commission to end the probe, calling it "unreasonable" and not in line with international rules. The Commission, which oversees trade policy in the 27-nation European Union, launched an investigation into whether battery electric vehicles manufactured in China were receiving unusually high subsidies and warranted extra tariffs. The Commission has postponed its final decision in the investigation until after the European Parliament election on June 9.

Meanwhile, fearing the imposition of tariffs on its export vehicles, China has already hinted at retaliatory tariffs as high as 25% on imported vehicles with large-capacity engines.

China is planning to take it up a notch concerning EV battery technology. The country is reportedly planning to invest up to six billion yuan ($828 million) in the development of a more powerful & advanced EV battery technology, according to media outlet China Daily.

China is planning to take it up a notch concerning EV battery technology. The country is reportedly planning to invest up to six billion yuan ($828 million) in the development of a more powerful & advanced EV battery technology, according to media outlet China Daily. According to the report, the Chinese government has roped in a few key players in the space like Contemporary Amperex Technology Co. Limited (CATL), the world’s largest battery manufacturer, and automotive companies like BYD and the Zhejiang Geely Holding Group, among others, to lead the program, which was launched earlier this year and is focused purely on advancing the development of solid-state battery technology. Compared to the current mainstream Lithium-ion battery technology, solid-state batteries are considered to be superior primarily due to their higher power density, durability, and faster charge time. However, to scale up the latter for use in mainstream EVs is not only a technological challenge but significantly costly as well. Full-scale commercialisation of solid-state batteries for use in the EV industry is still pegged to be years away. Given their high production cost, these batteries could initially be restricted to high-end performance/luxury vehicles only. Also Read: EU delays decision on Chinese EV tariffs amid election concerns This news has come out at a sensitive time for global trade relations. Chinese EVs are currently under the radar in the European Union (EU) and the U.S., the latter having accused China of exporting excess inventory as it faces a slowdown in domestic demand. A Reuters report claims the Chinese foreign ministry has even urged the EU Commission to end the probe, calling it "unreasonable" and not in line with international rules. The Commission, which oversees trade policy in the 27-nation European Union, launched an investigation into whether battery electric vehicles manufactured in China were receiving unusually high subsidies and warranted extra tariffs. The Commission has postponed its final decision in the investigation until after the European Parliament election on June 9. Meanwhile, fearing the imposition of tariffs on its export vehicles, China has already hinted at retaliatory tariffs as high as 25% on imported vehicles with large-capacity engines.

China planning to invest $828 million in solid-state EV battery development

A recent surge in exports has propelled Brazil to the top market for Chinese new energy vehicles, surpassing established European markets. Data shows a 13-fold increase in n-e-v exports to brazil in April 2024, signifying a clear pivot by Chinese automakers in response to the EU's anti-subsidy probe.

Brazil surpasses Belgium as top market for Chinese EVs

Ankur Gupta, an Indian researcher, and his colleagues have unveiled a cutting-edge technique that has the potential to dramatically accelerate how quickly computers, cellphones, and electric vehicles (EVs) charge.

Indian-origin researcher discovers new tech device that fully charges EVs in 10 minutes

New tech by Indian scientist Ankur Gupta fully charges EVs in 10 minutes

Researchers have reportedly developed an iron-based cathode material which can pave the way for making cheaper, safer, and more sustainable batteries. The new material will end the need to use expensive and scarce metals such as cobalt and nickel, leading to the manufacturing of electric vehicles (EVs) at cheaper rates.

Researchers have reportedly developed an iron-based cathode material which can pave the way for making cheaper, safer, and more sustainable batteries. The new material will end the need to use expensive and scarce metals such as cobalt and nickel, leading to the manufacturing of electric vehicles (EVs) at cheaper rates. Oregon State University chemistry researcher Xiulei “David” Ji explained how they transformed the reactivity of iron metal to achieve exciting results. “Our electrode can offer a higher energy density than the state-of-the-art cathode materials in electric vehicles. And since we use iron, whose cost can be less than a dollar per kilogramme – a small fraction of nickel and cobalt, which are indispensable in current high-energy lithium-ion batteries – the cost of our batteries is potentially much lower,” he was quoted as saying by a science website 'Interesting Engineering'. The researcher added that the use of scarce metals contributes up to 50 per cent to the production cost of lithium-ion battery cells. He also warned that the overexploitation of these metals may even cause a shortage and the ensuing collapse of nickel and cobalt-based battery manufacturing. On the other hand, iron is the most common element on Earth as measured by mass, the researcher adds. “We will not run out of iron till the sun turns into a red giant,” he says. Also read: Nio joins forces with FAW to supercharge battery swapping network Scientists mixed special chemicals with iron powder, lithium fluoride, and lithium phosphate to create iron salts that can change back and forth. This way, they could use iron in the battery without needing to change other parts of how batteries are made. “We’ve demonstrated that the materials designed with anions can break the ceiling of energy density for batteries that are more sustainable and cost less,” Ji explained. “We’re not using some more expensive salt in conjunction with iron – just those the battery industry has been using and then iron powder," he added. Also read : Scientists develop sodium battery that can be charged in seconds “To put this new cathode in applications, one needs to change nothing else – no new anodes, no new production lines, no new design of the battery. We are just replacing one thing, the cathode,” added Ji. (With inputs from agencies)

Scientists use iron to develop cheaper, safer, sustainable lithium-ion batteries

An analysis of British road traffic accidents suggests that hybrid and electric cars are more prone to pedestrian collisions than petrol or diesel vehicles, especially in urban areas.

Data from 32 billion miles of battery-powered car travel and 3 trillion miles of petrol and diesel car trips showed that electric and hybrid cars were twice more likely to hit pedestrians than fossil fuel-powered cars.

Why eco-friendly cars are more dangerous is unclear, but researchers believe a number of factors are to blame. The drivers of electric cars tend to be younger and less experienced, and the electric cars are much quieter than those with combustion engines, making them harder to hear, especially in towns and cities.

Also read:&nbsp;<a href="https://www.wionews.com/world/meet-vietnams-new-president-to-lam-who-once-ate-gold-leaf-covered-steak-after-paying-respect-to-karl-marx-724160">Meet Vietnam's new President To Lam, who once ate gold leaf-covered steak after paying respect to Karl Marx</a>

Phil Edwards, the study's lead author and a professor of epidemiology and statistics at the London School of Hygiene &amp; Tropical Medicine explained: "Electric cars pose a danger to pedestrians because they are less likely to be heard than petrol or diesel cars. The government needs to address these risks if it plans to phase out the sale of petrol and diesel cars."

“If you’re moving to an electric car, remember it’s a new kind of vehicle,” Edwards added. “They are much quieter than the old-fashioned cars and drivers of these vehicles need to be extra cautious.”

It is worth mentioning that road traffic accidents are the leading cause of death among children and young adults in the UK, with pedestrians making up a quarter of all deaths on the roads.

In 2017, a US Department of Transportation report found that electric and hybrid cars posed a 20% higher risk to pedestrians than petrol and diesel cars, and a 50% higher risk during low-speed moves, such as turning, reversing, starting into traffic and pulling to a stop.

Edwards and his team analysed UK travel and road accident data from 2013 to 2017. Due to an archiving issue, data from 2018 onwards is unavailable.&nbsp;

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Their analysis covered 916,713 casualties, including 120,197 pedestrians, with over 96,000 of those pedestrians being struck by a car or taxi.

Since July 2019, all new hybrid and electric vehicles sold in Europe have been required to have an audio vehicle alerting system that produce sound when the car is travelling slowly, but there are thousands of electric cars on the road without the devices.

“If government made sure these systems were installed in all electric vehicles and retrofitted them to older electric cars, that would be a good start,” Edwards said. 
 
(With inputs from agencies)

An analysis of British road traffic accidents suggests that hybrid and electric cars are more prone to pedestrian collisions than petrol or diesel vehicles, especially in urban areas.

An analysis of British road traffic accidents suggests that hybrid and electric cars are more prone to pedestrian collisions than petrol or diesel vehicles, especially in urban areas. Data from 32 billion miles of battery-powered car travel and 3 trillion miles of petrol and diesel car trips showed that electric and hybrid cars were twice more likely to hit pedestrians than fossil fuel-powered cars. Why eco-friendly cars are more dangerous is unclear, but researchers believe a number of factors are to blame. The drivers of electric cars tend to be younger and less experienced, and the electric cars are much quieter than those with combustion engines, making them harder to hear, especially in towns and cities. Also read: Meet Vietnam's new President To Lam, who once ate gold leaf-covered steak after paying respect to Karl Marx Phil Edwards, the study's lead author and a professor of epidemiology and statistics at the London School of Hygiene & Tropical Medicine explained: "Electric cars pose a danger to pedestrians because they are less likely to be heard than petrol or diesel cars. The government needs to address these risks if it plans to phase out the sale of petrol and diesel cars." “If you’re moving to an electric car, remember it’s a new kind of vehicle,” Edwards added. “They are much quieter than the old-fashioned cars and drivers of these vehicles need to be extra cautious.” It is worth mentioning that road traffic accidents are the leading cause of death among children and young adults in the UK, with pedestrians making up a quarter of all deaths on the roads. In 2017, a US Department of Transportation report found that electric and hybrid cars posed a 20% higher risk to pedestrians than petrol and diesel cars, and a 50% higher risk during low-speed moves, such as turning, reversing, starting into traffic and pulling to a stop. Edwards and his team analysed UK travel and road accident data from 2013 to 2017. Due to an archiving issue, data from 2018 onwards is unavailable. Also read: Tornado leaves multiple dead and dozens injured in Iowa, homes in ruins Their analysis covered 916,713 casualties, including 120,197 pedestrians, with over 96,000 of those pedestrians being struck by a car or taxi. Since July 2019, all new hybrid and electric vehicles sold in Europe have been required to have an audio vehicle alerting system that produce sound when the car is travelling slowly, but there are thousands of electric cars on the road without the devices. “If government made sure these systems were installed in all electric vehicles and retrofitted them to older electric cars, that would be a good start,” Edwards said. (With inputs from agencies)

Electric cars more likely to hit pedestrians than fuel cars: Study

The world is riding on an Electric Vehicle bandwagon. However, India seems to be lagging in Electric Vehicle adoption, with a penetration rate of less than 1 per cent.

A recent working paper by the Economic Advisory Council to the Prime Minister of India (EAC-PM) highlights the reasons for India's lacklustre performance.

The working paper, authored by EAC members Bibek Debroy and Devi Prasad Misra, reveals that high costs, 'range anxiety', limited model options, and unknown resale value are acting as barriers to large-scale EV adoption.

The rate of EV adoption is even slower in the LMV (Light Motor Vehicles) segment, which continues to impact the growth of this nascent EV sector. LMVs were about 19 per cent of the total vehicle sales in 2022-23, but only 0.95 per cent of them were EVs.

The paper, while noting the cost of buying an EV may be higher to begin with, argues that the cost of running an EV will be lower compared to fuel-consuming vehicles in the long run, thanks to the cost difference between electricity and fuels.

"For small cars, the cost of ownership is in &nbsp;favour of electric vehicles from the fifth year onwards whereas for mid-size vehicles the equation turns favourable for electric vehicles from the 9th year onwards," the authors write in the working paper titled&nbsp;'Igniting the Bright Spark: Through the Looking Glass on Electric Mobility in India'.

The fear that a battery-run EV will run out of power before reaching its destination is real. While the term 'range anxiety' originated in the U.S, it has found resonance in India, where the EV charging spots are still under development.

The report notes that there were 6586 publically accessible EV Charging Stations in India, as of March 2023. But a recent CII report shows that India would need&nbsp;over 1.3 million charging stations in order to facilitate EV adoption.

While the lack of diversity in models remain a challenge, the paper highlights China's decade-long experience in EVs and encourages greater government role in the sector to boost adoption.

Once the adoption figures rise, Debroy and Misra argue, market forces can enter the nascent market and diversify the product offerings.

"It is estimated that between 2009 and 2022, the Chinese government poured over US$29 billion into subsidies and tax breaks for Chinese EV manufacturers," they say, adding that early adoption of EVs has come from state mandates or state subsidies.

But a thorough reading of the paper suggests that the biggest benefit of adopting EVs would be economic.

India is an oil-importing country, the third-largest in the world. As per reports, India spent nearly $113.4 billion in oil and gas imports in 2022-23, becoming a major strain on the Current Account Deficit.

But India's growing economic prowess is reflected in the size of its automobile market -- the world's fifth-largest. The paper argues that moving towards battery-run EVs will not only bring down the import bill but also help India fulfil its net-zero committments.

While market forces, epspecially private players, will play a key role in expanding the sector, the government will have to create a robust policy framework to sustain EV adoption. &nbsp;

The paper suggests introduction of mandates that seek a certain percentage of vehicles manufactured to be EVs. It also suggests leasing instead of purchasing EVs as a way to encourage greater adoption.&nbsp;

Finally, the paper argues that a greater share of EVs in the government's fleet will have a demonstration effect on the public, which will lead to a mass adoption.

While significant challenges remain, a Bain &amp; Co report states that EVs could account for more than 40 per cent of India’s automotive market and generate over $100 billion of revenue by 2030.

All that India needs, according to the working paper, is greater policy interventions.

The world is riding on an Electric Vehicle bandwagon. However, India seems to be lagging in Electric Vehicle adoption, with a penetration rate of less than 1 per cent.

The world is riding on an Electric Vehicle bandwagon. However, India seems to be lagging in Electric Vehicle adoption, with a penetration rate of less than 1 per cent. A recent working paper by the Economic Advisory Council to the Prime Minister of India (EAC-PM) highlights the reasons for India's lacklustre performance. The working paper, authored by EAC members Bibek Debroy and Devi Prasad Misra, reveals that high costs, 'range anxiety', limited model options, and unknown resale value are acting as barriers to large-scale EV adoption. The rate of EV adoption is even slower in the LMV (Light Motor Vehicles) segment, which continues to impact the growth of this nascent EV sector. LMVs were about 19 per cent of the total vehicle sales in 2022-23, but only 0.95 per cent of them were EVs. The paper, while noting the cost of buying an EV may be higher to begin with, argues that the cost of running an EV will be lower compared to fuel-consuming vehicles in the long run, thanks to the cost difference between electricity and fuels. "For small cars, the cost of ownership is in favour of electric vehicles from the fifth year onwards whereas for mid-size vehicles the equation turns favourable for electric vehicles from the 9th year onwards," the authors write in the working paper titled 'Igniting the Bright Spark: Through the Looking Glass on Electric Mobility in India'. The fear that a battery-run EV will run out of power before reaching its destination is real. While the term 'range anxiety' originated in the U.S, it has found resonance in India, where the EV charging spots are still under development. The report notes that there were 6586 publically accessible EV Charging Stations in India, as of March 2023. But a recent CII report shows that India would need over 1.3 million charging stations in order to facilitate EV adoption. While the lack of diversity in models remain a challenge, the paper highlights China's decade-long experience in EVs and encourages greater government role in the sector to boost adoption. Once the adoption figures rise, Debroy and Misra argue, market forces can enter the nascent market and diversify the product offerings. "It is estimated that between 2009 and 2022, the Chinese government poured over US$29 billion into subsidies and tax breaks for Chinese EV manufacturers," they say, adding that early adoption of EVs has come from state mandates or state subsidies. But a thorough reading of the paper suggests that the biggest benefit of adopting EVs would be economic. India is an oil-importing country, the third-largest in the world. As per reports, India spent nearly $113.4 billion in oil and gas imports in 2022-23, becoming a major strain on the Current Account Deficit. But India's growing economic prowess is reflected in the size of its automobile market -- the world's fifth-largest. The paper argues that moving towards battery-run EVs will not only bring down the import bill but also help India fulfil its net-zero committments. While market forces, epspecially private players, will play a key role in expanding the sector, the government will have to create a robust policy framework to sustain EV adoption. The paper suggests introduction of mandates that seek a certain percentage of vehicles manufactured to be EVs. It also suggests leasing instead of purchasing EVs as a way to encourage greater adoption. Finally, the paper argues that a greater share of EVs in the government's fleet will have a demonstration effect on the public, which will lead to a mass adoption. While significant challenges remain, a Bain & Co report states that EVs could account for more than 40 per cent of India’s automotive market and generate over $100 billion of revenue by 2030. All that India needs, according to the working paper, is greater policy interventions.

India's Electric Vehicle ambitions: What a new working paper tells us about EV adoption

To counter China's increasing influence in the electric vehicle (EV) market, Japan and the Association of Southeast Asian Nations (ASEAN) are set to unveil their inaugural joint strategy for automobile production and sales within the region. <o:p></o:p>

This collaborative initiative, as reported by the Nikkei newspaper on Monday, aims to establish a solid framework by 2035, focusing on several strategic areas including decarbonisation, mineral resource procurement, and investment in next-generation automotive technologies.<o:p></o:p>

Scheduled for discussion during the economic ministers' meeting between Japan and ASEAN members, potentially as early as September next year, the strategy will address the growing necessity for enhanced cooperation in personnel training and sustainable production practices. <o:p></o:p>

Key aspects of the proposed strategy include the promotion of biofuels and other next-generation technologies. <o:p></o:p>

The strategy will also emphasise the importance of securing mineral resources crucial for EV production, thereby ensuring a stable supply chain that supports both Japanese and ASEAN automakers.<o:p></o:p>

To support these objectives, Japan plans to utilise 140 billion yen ($899.51 million) allocated by its Ministry of Economy, Trade, and Industry. <o:p></o:p>

This budget, aimed at assisting the Global South, will primarily fund personnel training programs. <o:p></o:p>

These programs are designed to enhance the skills and capabilities of the workforce within the ASEAN region, thereby fostering a more competitive and innovative automotive industry.<o:p></o:p>

This strategic move follows significant developments within Japan's automotive sector, particularly from industry giants like Honda Motor. <o:p></o:p>

Last week, Honda announced that it would double investments in electrification and software, amounting to approximately $65 billion through fiscal 2030. <o:p></o:p>

This investment is a direct response to the intensifying competition from Chinese automakers such as BYD, which have been rapidly advancing their market presence and technological prowess.<o:p></o:p>

By forging this joint strategy, Japan and ASEAN aim to create a resilient and collaborative automotive ecosystem that not only counters external competition but also promotes sustainable growth and innovation within the region. <o:p></o:p>

This partnership is set to play a crucial role in the global automotive market, as both regions strive to maintain their competitive edge amidst the accelerating shift towards electric mobility.<o:p></o:p>

Overall, this initiative represents a significant step towards greater economic integration and cooperation between Japan and ASEAN, setting the stage for a more sustainable and technologically advanced automotive industry.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

To counter China's increasing influence in the electric vehicle (EV) market, Japan and the Association of Southeast Asian Nations (ASEAN) are set to unveil their inaugural joint strategy for automobile production and sales within the region.

To counter China's increasing influence in the electric vehicle (EV) market, Japan and the Association of Southeast Asian Nations (ASEAN) are set to unveil their inaugural joint strategy for automobile production and sales within the region. This collaborative initiative, as reported by the Nikkei newspaper on Monday, aims to establish a solid framework by 2035, focusing on several strategic areas including decarbonisation, mineral resource procurement, and investment in next-generation automotive technologies. Scheduled for discussion during the economic ministers' meeting between Japan and ASEAN members, potentially as early as September next year, the strategy will address the growing necessity for enhanced cooperation in personnel training and sustainable production practices. Key aspects of the proposed strategy include the promotion of biofuels and other next-generation technologies. The strategy will also emphasise the importance of securing mineral resources crucial for EV production, thereby ensuring a stable supply chain that supports both Japanese and ASEAN automakers. To support these objectives, Japan plans to utilise 140 billion yen ($899.51 million) allocated by its Ministry of Economy, Trade, and Industry. This budget, aimed at assisting the Global South, will primarily fund personnel training programs. These programs are designed to enhance the skills and capabilities of the workforce within the ASEAN region, thereby fostering a more competitive and innovative automotive industry. This strategic move follows significant developments within Japan's automotive sector, particularly from industry giants like Honda Motor. Last week, Honda announced that it would double investments in electrification and software, amounting to approximately $65 billion through fiscal 2030. This investment is a direct response to the intensifying competition from Chinese automakers such as BYD, which have been rapidly advancing their market presence and technological prowess. By forging this joint strategy, Japan and ASEAN aim to create a resilient and collaborative automotive ecosystem that not only counters external competition but also promotes sustainable growth and innovation within the region. This partnership is set to play a crucial role in the global automotive market, as both regions strive to maintain their competitive edge amidst the accelerating shift towards electric mobility. Overall, this initiative represents a significant step towards greater economic integration and cooperation between Japan and ASEAN, setting the stage for a more sustainable and technologically advanced automotive industry. (With inputs from Reuters)

Japan, ASEAN to formulate joint automobile strategy to combat China's EV dominance

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles. Volvo Cars, majority-owned by China's Geely Holding witnessed sales of fully electric cars were up 94% and accounted for 26% of all sales globally in the month.

Volvo Cars' biggest market, Europe, saw jump of 65% in sales as compared to the same period last year, reaching 34,238 cars, with the company's fully electric small SUV, EX30, driving sales. In the United States, the company saw sales rise 10%, primarily driven by an 89% increase in plug-in hybrid car sales. Meanwhile, sales in China were down 3% compared to the same period last year.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/nio-plans-to-expand-global-presence-with-new-ev-models-718843">Nio plans to expand global presence with new EV models</a>

In a separate development, Volvo Cars has made a strategic investment in UK-based startup Breathe Battery Technologies with an aim to reduce charging time for its next generation of electric vehicles (EVs) by 30%. This move highlights Volvo’s commitment to enhancing the EV ownership experience and addressing consumer concerns over charging convenience.

Volvo Cars Tech Fund, the Swedish automaker’s corporate venture capital arm, facilitated this investment, marking a significant step towards advancing EV technology. Although the exact investment amount remains undisclosed, the company's partnership with Breathe Battery Technologies signals a shared vision for innovation in the EV sector.

With faster charging of EVs, customers will be encouraged to adopt battery-powered vehicles while those who already own EVs will witness a hassle-free ownership experience. Concerns related to charging infrastructure and charging speed is paramount in driving widespread EV adoption.

Apart from reducing EV charging times, Breathe Battery Technologies is also working on enhancing battery durability and performance. Their software solutions, already deployed in Oppo smartphones, aim to extend battery life and optimise performance. With its investment in Breathe Battery Technologies, Volvo Cars' underscores the company’s commitment to innovation and sustainability in the EV market.&nbsp;

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles.

Swedish automaker Volvo Cars reported a rise of 27% in its April sales as compared to a year earlier. Sales stood at 65,838 cars last month, boosted by demand for electric and hybrid vehicles. Volvo Cars, majority-owned by China's Geely Holding witnessed sales of fully electric cars were up 94% and accounted for 26% of all sales globally in the month. Volvo Cars' biggest market, Europe, saw jump of 65% in sales as compared to the same period last year, reaching 34,238 cars, with the company's fully electric small SUV, EX30, driving sales. In the United States, the company saw sales rise 10%, primarily driven by an 89% increase in plug-in hybrid car sales. Meanwhile, sales in China were down 3% compared to the same period last year. Also Read: Nio plans to expand global presence with new EV models In a separate development, Volvo Cars has made a strategic investment in UK-based startup Breathe Battery Technologies with an aim to reduce charging time for its next generation of electric vehicles (EVs) by 30%. This move highlights Volvo’s commitment to enhancing the EV ownership experience and addressing consumer concerns over charging convenience. Volvo Cars Tech Fund, the Swedish automaker’s corporate venture capital arm, facilitated this investment, marking a significant step towards advancing EV technology. Although the exact investment amount remains undisclosed, the company's partnership with Breathe Battery Technologies signals a shared vision for innovation in the EV sector. With faster charging of EVs, customers will be encouraged to adopt battery-powered vehicles while those who already own EVs will witness a hassle-free ownership experience. Concerns related to charging infrastructure and charging speed is paramount in driving widespread EV adoption. Apart from reducing EV charging times, Breathe Battery Technologies is also working on enhancing battery durability and performance. Their software solutions, already deployed in Oppo smartphones, aim to extend battery life and optimise performance. With its investment in Breathe Battery Technologies, Volvo Cars' underscores the company’s commitment to innovation and sustainability in the EV market.

Volvo Cars reports rise in April sales buoyed by EV demand

In a surprising turn of events, electric vehicle startup Pravaig dynamics has extended job offers to interns whose summer internships at tesla were recently revoked. This follows a cost-cutting measure by tesla CEO Elon Musk, which resulted in a global workforce reduction of over 10%. Impacted included hundreds of employees and the entire 500-person supercharger division.

Indian EV startup offers alternative path for Tesla interns

The trajectory of global petrol demand is set for a major deceleration in 2024, analysts predict, with growth potentially halving compared to previous years. <o:p></o:p>

This shift, as reported by Reuters, is primarily attributed to the increasing adoption of electric vehicles (EVs) in major markets such as China and the US, alongside a return to pre-pandemic consumption levels following last year's bounceback. <o:p></o:p>

Consultancy firm Wood Mackenzie forecasts the lowest growth since 2020, with demand expected to increase by 340,000 barrels per day (bpd) to reach 26.5 million bpd this year, down from the 700,000-bpd growth observed in 2023. <o:p></o:p>

This trend is important as China approaches peak transport fuel demand, while the US has already surpassed it.<o:p></o:p>

Sushant Gupta, an analyst at Wood Mackenzie, noted the role of electric vehicles in shaping demand dynamics, particularly in the US and China. <o:p></o:p>

"Penetration of electric vehicles has been increasing in US and China,” he said, noting the impact on gasoline demand, with Chinese growth expected to be a mere 10,000 bpd this year due to higher EV uptake. <o:p></o:p>

Concurrently, consultancy Rystad Energy projects global gasoline demand to reach approximately 26 million bpd in 2024, marking a slight increase of around 300,000 bpd from the previous year. <o:p></o:p>

This growth, supported by the post-pandemic consumption surge, indicates a changing landscape where EVs are becoming increasingly prominent. <o:p></o:p>

China, once a dominant force driving gasoline demand globally, is seeing a shift towards EVs. <o:p></o:p>

The International Energy Agency (IEA) predicts that China will account for over half of all EV sales in 2024. <o:p></o:p>

Despite this transition, gasoline consumption in China is expected to experience some growth. <o:p></o:p>

Forecasts by the research arms of China National Petroleum Corp (CNPC) and Sinopec indicate an estimated increase in gasoline demand, with CNPC projecting a 1.3 per cent rise to 165.1 million metric tons (3.8 million bpd) and Sinopec expecting a 1.7 per cent increase to 182 million tons. <o:p></o:p>

This growth comes while prices continue to fall, further stimulating demand.<o:p></o:p>

Apart from China and the US, other regions like India and Indonesia are showing strong gasoline demand as car sales boom car sales amid low EV penetration. <o:p></o:p>

India, in particular, is expected to achieve a fresh record in petrol consumption, with government estimates projecting a rise to 39.2 million tons (908,000 bpd) in the fiscal year ending March 2025, up 5 per cent from the previous fiscal year. <o:p></o:p>

However, in regions like the US, where gasoline consumption is stabilising, refining margins are expected to face sustained pressure following the peak summer driving season.<o:p></o:p>

The outlook for refining margins across various regions remains mixed, with Europe anticipated to experience both growth and challenges. <o:p></o:p>

FGE forecasts a 2.3 per cent growth in European gasoline demand in 2024, consistent with recent years. <o:p></o:p>

However, rising competition from Nigeria's Dangote refinery, along with stagnant demand in Europe, is expected to weigh on refining margins. <o:p></o:p>

Wood Mackenzie warns that European refineries could face increased pressure due to competition from new entrants and geopolitical factors affecting market dynamics.<o:p></o:p>

Despite the challenges posed by shifting demand patterns and geopolitical uncertainties, gasoline margins have exhibited resilience in certain markets. <o:p></o:p>

Data from LSEG reveals an 85 per cent increase in gasoline margins across the US and Asia, driven by expectations of strong summer demand. <o:p></o:p>

However, the European market faces its own set of challenges, with margins pressured by factors including competition from new refineries and geopolitical tensions. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

The trajectory of global petrol demand is set for a major deceleration in 2024, analysts predict, with growth potentially halving compared to previous years. This shift, as reported by Reuters, is primarily attributed to the increasing adoption of electric vehicles (EVs) in major markets such as China and the US, alongside a return to pre-pandemic consumption levels following last year's bounceback.

The trajectory of global petrol demand is set for a major deceleration in 2024, analysts predict, with growth potentially halving compared to previous years. This shift, as reported by Reuters, is primarily attributed to the increasing adoption of electric vehicles (EVs) in major markets such as China and the US, alongside a return to pre-pandemic consumption levels following last year's bounceback. Consultancy firm Wood Mackenzie forecasts the lowest growth since 2020, with demand expected to increase by 340,000 barrels per day (bpd) to reach 26.5 million bpd this year, down from the 700,000-bpd growth observed in 2023. This trend is important as China approaches peak transport fuel demand, while the US has already surpassed it. Sushant Gupta, an analyst at Wood Mackenzie, noted the role of electric vehicles in shaping demand dynamics, particularly in the US and China. "Penetration of electric vehicles has been increasing in US and China,” he said, noting the impact on gasoline demand, with Chinese growth expected to be a mere 10,000 bpd this year due to higher EV uptake. Concurrently, consultancy Rystad Energy projects global gasoline demand to reach approximately 26 million bpd in 2024, marking a slight increase of around 300,000 bpd from the previous year. This growth, supported by the post-pandemic consumption surge, indicates a changing landscape where EVs are becoming increasingly prominent. China, once a dominant force driving gasoline demand globally, is seeing a shift towards EVs. The International Energy Agency (IEA) predicts that China will account for over half of all EV sales in 2024. Despite this transition, gasoline consumption in China is expected to experience some growth. Forecasts by the research arms of China National Petroleum Corp (CNPC) and Sinopec indicate an estimated increase in gasoline demand, with CNPC projecting a 1.3 per cent rise to 165.1 million metric tons (3.8 million bpd) and Sinopec expecting a 1.7 per cent increase to 182 million tons. This growth comes while prices continue to fall, further stimulating demand. Apart from China and the US, other regions like India and Indonesia are showing strong gasoline demand as car sales boom car sales amid low EV penetration. India, in particular, is expected to achieve a fresh record in petrol consumption, with government estimates projecting a rise to 39.2 million tons (908,000 bpd) in the fiscal year ending March 2025, up 5 per cent from the previous fiscal year. However, in regions like the US, where gasoline consumption is stabilising, refining margins are expected to face sustained pressure following the peak summer driving season. The outlook for refining margins across various regions remains mixed, with Europe anticipated to experience both growth and challenges. FGE forecasts a 2.3 per cent growth in European gasoline demand in 2024, consistent with recent years. However, rising competition from Nigeria's Dangote refinery, along with stagnant demand in Europe, is expected to weigh on refining margins. Wood Mackenzie warns that European refineries could face increased pressure due to competition from new entrants and geopolitical factors affecting market dynamics. Despite the challenges posed by shifting demand patterns and geopolitical uncertainties, gasoline margins have exhibited resilience in certain markets. Data from LSEG reveals an 85 per cent increase in gasoline margins across the US and Asia, driven by expectations of strong summer demand. However, the European market faces its own set of challenges, with margins pressured by factors including competition from new refineries and geopolitical tensions. (With inputs from Reuters)

Global gasoline demand faces deceleration with the growth of electric vehicles

The Centre has certified over 20 vehicle OEMs to participate in the short-term Electric Mobility Promotion Scheme (EMPS).

The EMPS, which is valid for only four months from April to July 2024 with an outlay of INR 500 crore, aims to subsidise electric two-wheeler, three-wheeler, and e-rickshaw purchases by consumers.

It may be replaced or extended, depending on the new central government expected to be formed in June 2024.

The 20 companies include all the major two and three-wheeler manufacturers that can now avail the given incentives under the scheme.

The new scheme’s primary objective is to support the adoption of over 3,30,000 e-two-wheelers, over 40,000 smaller e-three-wheelers (e-rickshaws or e-carts), and over 25,000 large e-three-wheelers (L5 category).

As such, the maximum incentive per electric two-wheeler has been rounded off at INR 10,000, for e-rickshaws or e-carts at INR 25,000, and for L5 vehicles, it has been kept at INR 50,000 per vehicle.

Before EMPS, the Faster Adoption and Manufacturing of (Hybrid &amp;) Electric Vehicles in India (FAME-II) provided an incentive push to electric vehicle (EV) sales by offering subsidies. The FAME-II ended on March 31, 2024, as the central government made a decision not to come out with a new variant of it in the form of the FAME-III.

As its replacement, the Ministry had to provide fresh registration under the new scheme to re-validate products and deter FAME-II defaulters from entering EMPS.

Read More:&nbsp;<a href="https://www.wionews.com/business-economy/bmw-motorrad-introduces-automated-shift-assistant-for-ease-of-riding-718399">BMW Motorrad introduces Automated Shift Assistant for ease of riding</a>

The Electric Mobility Promotion Scheme 2024<a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2014366"> (EMPS 2024)</a>&nbsp;scheme was introduced by the Ministry of Heavy Industries, Government of India with the approval of the Department of Expenditure, Ministry of Finance to further accelerate the adoption of EVs in the country.

This is a fund-limited scheme with a total outlay of INR 500 crore for 4 months, 1 April 2024 till 31 July 2024, for faster adoption of electric two-wheeler (e-2W) and three-wheeler (e-3W) to provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing eco-system in the country.&nbsp;

The Scheme aims to promote an efficient, competitive and resilient EV manufacturing industry in the country thereby promoting the Prime Minister’s vision of Aatma-Nirbhar Bharat.

For this purpose, the Phased Manufacturing Programme (PMP) has been adopted which encourages domestic manufacturing and strengthening off EV supply chain. This shall also create significant employment opportunities along the value chain.

The Centre has certified over 20 vehicle OEMs to participate in the short-term Electric Mobility Promotion Scheme (EMPS). The EMPS, which is valid for only four months from April to July 2024 with an outlay of INR 500 crore, aims to subsidise electric two-wheeler, three-wheeler, and e-rickshaw purchases by consumers.

The Centre has certified over 20 vehicle OEMs to participate in the short-term Electric Mobility Promotion Scheme (EMPS). The EMPS, which is valid for only four months from April to July 2024 with an outlay of INR 500 crore, aims to subsidise electric two-wheeler, three-wheeler, and e-rickshaw purchases by consumers. It may be replaced or extended, depending on the new central government expected to be formed in June 2024. The 20 companies include all the major two and three-wheeler manufacturers that can now avail the given incentives under the scheme. The new scheme’s primary objective is to support the adoption of over 3,30,000 e-two-wheelers, over 40,000 smaller e-three-wheelers (e-rickshaws or e-carts), and over 25,000 large e-three-wheelers (L5 category). As such, the maximum incentive per electric two-wheeler has been rounded off at INR 10,000, for e-rickshaws or e-carts at INR 25,000, and for L5 vehicles, it has been kept at INR 50,000 per vehicle. Before EMPS, the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-II) provided an incentive push to electric vehicle (EV) sales by offering subsidies. The FAME-II ended on March 31, 2024, as the central government made a decision not to come out with a new variant of it in the form of the FAME-III. As its replacement, the Ministry had to provide fresh registration under the new scheme to re-validate products and deter FAME-II defaulters from entering EMPS. Read More: BMW Motorrad introduces Automated Shift Assistant for ease of riding The Electric Mobility Promotion Scheme 2024 (EMPS 2024) scheme was introduced by the Ministry of Heavy Industries, Government of India with the approval of the Department of Expenditure, Ministry of Finance to further accelerate the adoption of EVs in the country. This is a fund-limited scheme with a total outlay of INR 500 crore for 4 months, 1 April 2024 till 31 July 2024, for faster adoption of electric two-wheeler (e-2W) and three-wheeler (e-3W) to provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing eco-system in the country. The Scheme aims to promote an efficient, competitive and resilient EV manufacturing industry in the country thereby promoting the Prime Minister’s vision of Aatma-Nirbhar Bharat. For this purpose, the Phased Manufacturing Programme (PMP) has been adopted which encourages domestic manufacturing and strengthening off EV supply chain. This shall also create significant employment opportunities along the value chain.

20 firms narrowed down under new EV subsidy scheme

China's electric vehicle market is expected to see a significant shakeup this year. The national development and reform commission predicts a price war among automakers due to several factors, including a surge in new electric car models and potential oversupply.

China's EV in overdrive: 110+ new EV models anticipated in 2024, sparking price war

South Korean researchers have developed a high power hybrid sodium-ion battery that can be charged in seconds, in a potential breakthrough that could be consequential for the way critical minerals are required for technological innovations.&nbsp;

Co-authored by Korea Advanced Institute of Science and Technology (KAIST) doctoral candidates Jong Hui Choi and Dong Won Kim, the study was published in the journal Energy Storage Materials.

<h2>Why a sodium battery?</h2>

Sodium is nearly 1000 times more abundant than lithium and is less rare a mineral. So a sodium-ion electrochemical energy storage would be a cheaper and potentially more feasible source of energy due to its comparative abundance in the world around us.&nbsp;

"The development of a hybrid battery with high energy and high power density requires an improvement to the slow energy storage rate of battery-type anodes as well as the enhancement of the relatively low capacity of supercapacitor-type cathode materials," the researchers said&nbsp;in a statement.

Also read |&nbsp;<a href="https://www.wionews.com/science/scientists-discover-superconductivity-breakthrough-for-next-age-electrical-transmission-570740">Scientists achieve superconductivity breakthrough for next-age electrical transmission</a>

Led by Professor Jeung Ku Kang from the Department of Materials Science and Engineering, the research team integrated anode materials typically used in batteries with cathodes suitable for supercapacitors.

The combination helped the battery to achieve high storage capacities and rapid charge-discharge rates.

<h2>What does it mean?</h2>

The study indicates that the battery can be a viable next-generation alternative to lithium-ion batteries.

The battery may potentially&nbsp;fulfill an increasing demand for low-cost electrochemical energy storage devices with high energy density for prolonged operation on a single charge and fast-chargeable power density. It can then&nbsp;meet a wide range of applications ranging from mobile electronic devices through electric vehicles (EVs) to large-scale grid systems.

At present, the available sodium-ion energy storage systems are poor in rechargeability as they have a low power density while providing a relatively high energy density.

Researchers are focused to develop sodium-ion hybrid energy storage (SIHES) cells.&nbsp;

(With inputs from agencies)

South Korean researchers have developed a high power hybrid sodium-ion battery that can be charged in seconds, in a potential breakthrough that could be consequential for the way critical minerals are required for technological innovations.

South Korean researchers have developed a high power hybrid sodium-ion battery that can be charged in seconds, in a potential breakthrough that could be consequential for the way critical minerals are required for technological innovations. Co-authored by Korea Advanced Institute of Science and Technology (KAIST) doctoral candidates Jong Hui Choi and Dong Won Kim, the study was published in the journal Energy Storage Materials. Why a sodium battery? Sodium is nearly 1000 times more abundant than lithium and is less rare a mineral. So a sodium-ion electrochemical energy storage would be a cheaper and potentially more feasible source of energy due to its comparative abundance in the world around us. "The development of a hybrid battery with high energy and high power density requires an improvement to the slow energy storage rate of battery-type anodes as well as the enhancement of the relatively low capacity of supercapacitor-type cathode materials," the researchers said in a statement. Also read | Scientists achieve superconductivity breakthrough for next-age electrical transmission Led by Professor Jeung Ku Kang from the Department of Materials Science and Engineering, the research team integrated anode materials typically used in batteries with cathodes suitable for supercapacitors. The combination helped the battery to achieve high storage capacities and rapid charge-discharge rates. What does it mean? The study indicates that the battery can be a viable next-generation alternative to lithium-ion batteries. The battery may potentially fulfill an increasing demand for low-cost electrochemical energy storage devices with high energy density for prolonged operation on a single charge and fast-chargeable power density. It can then meet a wide range of applications ranging from mobile electronic devices through electric vehicles (EVs) to large-scale grid systems. At present, the available sodium-ion energy storage systems are poor in rechargeability as they have a low power density while providing a relatively high energy density. Researchers are focused to develop sodium-ion hybrid energy storage (SIHES) cells. (With inputs from agencies)

Scientists develop sodium battery that can be charged in seconds

An emerging trend of transforming vintage cars into electric vehicles has taken over the automobile industry, yet it appears that many classic car owners aren't keen on this revolutionary idea. We get you more details in this report.

Should you electrify your classic car?

Vietnamese conglomerate, Vingroup, is putting more effort into making electric cars, even though its car-making unit, VinFast, is facing financial problems.

VinFast is growing fast. But it is relying a lot on selling cars to allied firms&nbsp;because not many are buying EVs right now.

Vingroup has lost about $5.7 billion on VinFast in the last three years, and its stock has gone down 38 per cent since VinFast started trading in the US in August.&nbsp;

Vingroup and its boss, Pham Nhat Vuong, have put $11.4 billion into VinFast from 2017 to 2023.

Still, VinFast has a hard time selling cars to people outside the company.

A big share of its car sales, which brought in $1.1 billion last year, were to its own related companies or those owned by Vuong.

Vingroup has tried to help by selling part of its shop unit, Vincom Retail, for $1.6 billion to get more money for VinFast.

But VinFast's way of selling mostly to its own subsidiaries is unlikely to work in the long run.

About 82 per cent of its sales come from internal buys. Even in Vietnam, VinFast employs big price cuts to sell its EVs.

Its big dreams of making and selling record number of cars haven't been reached yet, with sales not hitting goals and making cars still costing more than they make.

VinFast also wants to sell cars across the world, but with fewer people wanting electric cars now, that goal seems tough.

Since going public, its shares have dropped by 97 per cent, making investors worry if it can meet its sales goals and find good partners.

But Vuong says the move into cars is more about wanting to do good and show love for their country.

(With inputs from Reuters)

Vietnamese conglomerate, Vingroup, is putting more effort into making electric cars, even though its car-making unit, VinFast, is facing financial problems. VinFast is growing fast.

Vietnamese conglomerate, Vingroup, is putting more effort into making electric cars, even though its car-making unit, VinFast, is facing financial problems. VinFast is growing fast. But it is relying a lot on selling cars to allied firms because not many are buying EVs right now. Vingroup has lost about $5.7 billion on VinFast in the last three years, and its stock has gone down 38 per cent since VinFast started trading in the US in August. Vingroup and its boss, Pham Nhat Vuong, have put $11.4 billion into VinFast from 2017 to 2023. Still, VinFast has a hard time selling cars to people outside the company. A big share of its car sales, which brought in $1.1 billion last year, were to its own related companies or those owned by Vuong. Vingroup has tried to help by selling part of its shop unit, Vincom Retail, for $1.6 billion to get more money for VinFast. But VinFast's way of selling mostly to its own subsidiaries is unlikely to work in the long run. About 82 per cent of its sales come from internal buys. Even in Vietnam, VinFast employs big price cuts to sell its EVs. Its big dreams of making and selling record number of cars haven't been reached yet, with sales not hitting goals and making cars still costing more than they make. VinFast also wants to sell cars across the world, but with fewer people wanting electric cars now, that goal seems tough. Since going public, its shares have dropped by 97 per cent, making investors worry if it can meet its sales goals and find good partners. But Vuong says the move into cars is more about wanting to do good and show love for their country. (With inputs from Reuters)

Vingroup's VinFast faces financial risks amid ambitious global expansion plans

Chinese electric vehicle (EV) manufacturers and shipping companies are witnessing an exceptional surge in demand for car-carrying vessels, attributed to the country's booming EV exports, Reuters reported.<o:p></o:p>

This surge is pushing China towards having the world's fourth-largest fleet of car carriers by 2028, according to data from shipping consultancy Veson Nautical. <o:p></o:p>

Presently, China ranks eighth globally in terms of its fleet size, with 33 car-carrying ships. <o:p></o:p>

However, with 47 ships on order, constituting a quarter of global orders, China's fleet expansion is set to change the industry.<o:p></o:p>

Specific buyers include major automakers like SAIC Motor, Chery Automobile, and EV giant BYD, along with shippers such as COSCO and China Merchants, acting on behalf of Chinese automakers.<o:p></o:p>

Analysts predict a huge increase in China's controlled car carrier fleet, jumping from the current 2.4 per cent to 8.7 per cent upon delivery of the ordered vessels. <o:p></o:p>

Reuters cited Andrea de Luca, an analyst at Veson, who said that the establishment of new trade routes primarily catering to Chinese automakers could e anticipated. <o:p></o:p>

According to her, a major part of these orders have been channelled to Chinese shipyards, securing 82 per cent of global orders, as Chinese companies capitalise on the burgeoning export market for EVs.<o:p></o:p>

The increase in demand for car-carrying ships mirrors China's growing prominence as a key player in the global automotive export market. <o:p></o:p>

Last year, China surpassed Japan as the world's largest auto exporter, with manufacturers like BYD contributing to this achievement.<o:p></o:p>

BYD alone exported over 240,000 vehicles in 2023, accounting for approximately 8 per cent of its global sales, with plans to push exports to 400,000 units this year. <o:p></o:p>

Additionally, foreign automakers like Tesla and Volkswagen have also increased their production in China, leveraging its cost-effective supply chain for exports.<o:p></o:p>

Despite the thriving market conditions for car carriers, there have been concerns surrounding the possible consequences of an increase in China's exports.<o:p></o:p>

Both the US and the European Union have called China out for flooding their markets with competitively priced products, citing unfair trade practices. <o:p></o:p>

These concerns have been complicated by increasing shipping costs and accusations of China's attempts to address excess industrial capacity through export expansion. <o:p></o:p>

However, Chinese officials have strongly refuted claims of overcapacity, downplaying the role of state support in driving growth.<o:p></o:p>

While regarding potential market saturation and trade imbalances loom large, experts like senior economist Xu Tianchen from the Economist Intelligence Unit noted specific opportunities where the demand may not have peaked, including car cargo ships. <o:p></o:p>

Against this backdrop, discussions surrounding trade practices and market dynamics might intensify, with the US Treasury Secretary Janet Yellen and China's Minister of Commerce Wang Wentao in talks to address the issues at hand.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Chinese electric vehicle (EV) manufacturers and shipping companies are witnessing an exceptional surge in demand for car-carrying vessels, attributed to the country's booming EV exports, Reuters reported.

Chinese electric vehicle (EV) manufacturers and shipping companies are witnessing an exceptional surge in demand for car-carrying vessels, attributed to the country's booming EV exports, Reuters reported. This surge is pushing China towards having the world's fourth-largest fleet of car carriers by 2028, according to data from shipping consultancy Veson Nautical. Presently, China ranks eighth globally in terms of its fleet size, with 33 car-carrying ships. However, with 47 ships on order, constituting a quarter of global orders, China's fleet expansion is set to change the industry. Specific buyers include major automakers like SAIC Motor, Chery Automobile, and EV giant BYD, along with shippers such as COSCO and China Merchants, acting on behalf of Chinese automakers. Analysts predict a huge increase in China's controlled car carrier fleet, jumping from the current 2.4 per cent to 8.7 per cent upon delivery of the ordered vessels. Reuters cited Andrea de Luca, an analyst at Veson, who said that the establishment of new trade routes primarily catering to Chinese automakers could e anticipated. According to her, a major part of these orders have been channelled to Chinese shipyards, securing 82 per cent of global orders, as Chinese companies capitalise on the burgeoning export market for EVs. The increase in demand for car-carrying ships mirrors China's growing prominence as a key player in the global automotive export market. Last year, China surpassed Japan as the world's largest auto exporter, with manufacturers like BYD contributing to this achievement. BYD alone exported over 240,000 vehicles in 2023, accounting for approximately 8 per cent of its global sales, with plans to push exports to 400,000 units this year. Additionally, foreign automakers like Tesla and Volkswagen have also increased their production in China, leveraging its cost-effective supply chain for exports. Despite the thriving market conditions for car carriers, there have been concerns surrounding the possible consequences of an increase in China's exports. Both the US and the European Union have called China out for flooding their markets with competitively priced products, citing unfair trade practices. These concerns have been complicated by increasing shipping costs and accusations of China's attempts to address excess industrial capacity through export expansion. However, Chinese officials have strongly refuted claims of overcapacity, downplaying the role of state support in driving growth. While regarding potential market saturation and trade imbalances loom large, experts like senior economist Xu Tianchen from the Economist Intelligence Unit noted specific opportunities where the demand may not have peaked, including car cargo ships. Against this backdrop, discussions surrounding trade practices and market dynamics might intensify, with the US Treasury Secretary Janet Yellen and China's Minister of Commerce Wang Wentao in talks to address the issues at hand. (With inputs from Reuters)

China's EV export surge spurs record demand for car-carrying ships

Here we bring you a quick round-up of all the latest news and top headlines from all across the globe: Microsoft expands its presence in UK, announces new AI hub. Nancy Pelosi joins call for stopping weapons transfer to Tel Aviv. Ottawa needs to do more to protect the Arctic, says PM Trudeau. Investors express displeasure over Tesla's low cost EV model. Watch in for more details!

Canada to boost defence spending | Tesla's low cost EV model | London's own AI hub

There is a strong push for electric vehicles in India. Many automakers are working hard to revolutionise the EV sector in the country. Watch the report for more details.

The future of electric vehicles in India

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