Japanese automaker Honda Motor Co. has unveiled the pilot production line for its in-house developed all-solid-state batteries at its research and development facility in Sakura City, Tochigi Prefecture, Japan, Honda announced Nov. 21. Honda said that the company is planning to commence battery production on this demonstration line in January 2025 and will conduct verification of mass production technologies and costs for each process, while also developing battery cell specifications. Honda ...

Struggling to contain large capital requirements and increasing debt, Volkswagen-backed Swedish battery cell-maker Northvolt AB has filed for bankruptcy in the US, the company announced Nov. 21. “Northvolt AB and certain of its subsidiaries voluntarily filed for Chapter 11 reorganization in the United States,” the company said in a statement. It further said that the decision will enable the company to restructure its debt, appropriately scale the business to current customer needs a...

Hyundai Mobis has unveiled its "Value-up" business strategy during the 2024 CEO Investor Day, held in Seoul, South Korea, on Nov. 19. The mid-to-long term business strategy aims to achieve an average annual revenue growth of 8% and an operating margin ranging from 5% to 7% by 2027. Under the new business strategy, Hyundai Mobis plans to significantly expand its revenue outside its parent, Hyundai Motor Group (HMG), and also the owners of Hyundai, Genesis and Kia. The leading South Korean auto...

After a successful public listing on India’s National Stock Exchange (NSE) on Oct. 22, subcontinent’s second-largest carmaker, Hyundai Motor India Ltd. (HMIL), said that the company plans to work on localizing the electric vehicle supply network for battery systems, battery cells and drive systems. Hyundai Motor India, which is a subsidiary of South Korea’s Hyundai Motor Co., also plans to invest in building EV charging infrastructure to encourage customers for wider adoption of EVs across...

Volkswagen-backed solid-state battery technology company QuantumScape has started producing and shipping the first set of its B-sample cells for automotive customer testing. In a letter to shareholders released Oct. 23, the company said that it has begun producing low volumes of its first B-sample cells, accomplishing its most important goal for 2024. These B-sample cells are of QuantumScape’s first commercial product, QSE-5, and carry an energy density of over 800 watt-hours per liter (Wh/...

Australia-based mining company Ioneer Ltd. has received its federal permit for developing the Rhyolite Ridge Lithium-Boron Project in Nevada, US, from the Bureau of Land Management, the company announced Oct. 25. With the federal permit, the Rhyolite Ridge Lithium-Boron Project in Nevada becomes the first US lithium project approved by the Biden administration, the company said, adding that the move will help in beginning the construction work in 2025, with first production expected in 2028. ...

Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest battery manufacturer, has launched a specialized battery for hybrid vehicles, which are witnessing a sharp surge in global demand as consumers are staying away from battery-electric vehicles (BEVs) owing to concerns around range anxiety, slow charging and lack of electric vehicle charging infrastructure. At a high-profile event organized in Beijing on Oct. 24, CATL launched its Freevoy Super Hybrid battery, which it c...

South Korean consumer electronics major LG Electronics plans to accelerate its growth in new emerging business areas, including the company’s electric vehicle charger business, the company announced on the sidelines of a press conference organized on Oct. 10 at LG Digital Park in South Korea. LG, which claimed that its EV charger business is turning out to be an emerging unicorn within the LG umbrella, is looking to aggressively expand its presence in the global EV charger market through st...

The European Commission's proposal to impose definitive countervailing duties on imports of battery-electric vehicles (BEVs) from mainland China has obtained the necessary support from EU Member States for the adoption of tariffs, the European Commission announced Oct. 4. The development marks a crucial step toward the conclusion of the European Commission's anti-subsidy investigation on made-in-China BEVs imported into the EU region. The commission now plans to publish its regulations, in...

Hyundai Mobis has unveiled 65 new innovative technologies that are expected to be commercialized within the next two to three years on the sidelines of its R&D Technology Day in Seoul, South Korea, on Oct. 4. Hyundai Mobis organized the 2024 R&D Tech Day at its Uiwang Research Center in Gyeonggi Province, South Korea on Friday (Oct. 4). The company said that it was able to develop multiple new innovative solutions for vehicles due to its record-high research and development investment...

LG Chem’s Platform Technology research and development team has developed an innovative material designed to suppress thermal runaway in batteries, the company announced Oct. 1. LG Chem calls its all-new innovative material as the temperature-responsive Safety Reinforced Layer (SRL). The company said that the innovative thermal resistant material was analyzed in collaboration with Professor Lee Minah’s team from the Department of Battery Science at Pohang University of Science and Technol...

The US Commerce Department issued a notice of proposed rulemaking (NPRM) on Monday (Sept. 23) which, if approved, would ban sale or import of vehicles that incorporate connectivity technologies from countries of concern, specifically mainland China and Russia. The NPRM follows a process initiated by President Joe Biden in February and is based on public feedback to an earlier notice issued by the Commerce Department, which sought to address national security risks associated with certain technol...

Canada has decided to impose a 100% import duty on mainland China-built electric vehicles imported into the Canadian market, following the footsteps of the US and the EU. The new tariff will be applied in addition to the current import duty of 6.1% that is applicable on EVs produced in mainland China and imported into Canada. It will cover certain electric and hybrid passenger vehicles, trucks, buses and delivery vans. The new tariff will become effective from Oct. 1. Mainland China-made EVs ...

In a recent incident, a driver experienced the dangers of phantom braking when his vehicle unexpectedly collided with a stopped Honda Accord while driving back from a ski trip. This accident highlights a wider issue with automatic emergency braking (AEB) systems that has led to recalls, injuries and lawsuits due to their false activations. The NHTSA has received thousands of complaints regarding this issue, according to a report published by Automotive News on Aug. 23. The incidents spec...

As part of its ongoing anti-subsidy investigation on electric vehicles imported from mainland China, the European Commission has now revised the duty rates based on the inputs received from interested parties on the provisional countervailing duties published earlier in July. In a note issued on Aug. 20, disclosing the revised tariffs to the Chinese vehicle manufacturers, the commission announced the revised countervailing duties mentioned below: a) BYD electric cars will attract a count...

The European Commission has approved a €5 billion German measure to support the European Semiconductor Manufacturing Co. (ESMC) in constructing and operating a microchip manufacturing plant in Dresden, Germany. ESMC, a joint venture between Taiwan Semiconductor Manufacturing Co. (TSMC), Bosch, Infineon and NXP, aims to enhance Europe's supply security, resilience and digital sovereignty in semiconductor technologies, aligning with the European Chips Act Communication's objectives, as...

Human Horizons, the parent company of the premium electric vehicle brand HiPhi, has declared bankruptcy in mainland China, Autocar reported, citing the official announcement made by the Yancheng's Economic and Technological Development Zone court on Aug. 8. The move by the EV startup brought an end to its efforts to secure investments for reviving production. In February, HiPhi decided to suspend the production of its luxury EVs as a part of a restructuring initiative aimed at salvaging the f...

Intel Corp. experienced a significant downturn, with its shares plummeting over 26% in response to a dismal growth forecast and a major job cut announcement, marking its sharpest decline since at least 1982, and eroding about $32 billion in market value, as reported by Automotive News on Aug. 2. The chipmaker, grappling with challenges in adapting to the AI era, disclosed plans to eliminate more than 15% of its workforce, which totals approximately 110,000 employees, alongside suspending divi...

As reported in a press release on Aug. 5, Continental announced that its executive board is considering the potential spin-off of its Automotive group sector to form two independent companies to maximize value and growth. The decision, set for the fourth quarter of 2024, is aimed at responding to the dynamic changes in the automotive industry, particularly in light of recent technological shifts and market demands for greater flexibility. If the executive board and supervisory board approve, ...

The US Commerce Department has planned to introduce regulations aimed at restricting the use of Chinese software within autonomous and connected vehicles operating in the US, according to sources familiar with the matter, Reuters reported Aug. 5.  The proposed rule, expected to be announced by the Biden administration in the coming weeks, targets vehicles with Level 3 automation or higher. The intention is also to prevent Chinese companies from testing autonomous vehicles on US soil...

According to a press release on Aug. 1, Mobileye reported a 3% year-over-year decrease in revenue to $439 million for the second quarter of 2024, attributing the decline to a 10% decrease in EyeQ system-on-chip (SoC)-related revenue, largely due to the use of excess inventory by tier 1 customers. However, there was an 84% increase in revenue compared to the first quarter of 2024, mainly because of reduced inventory consumption by tier 1 customers and a more than 110% increase in the numb...

In a press release on July 31, Denso has reported first-quarter consolidated revenue of ¥1,753.8 billion (about $10.9 billion), for its 2025 fiscal year, ending March 31, 2025, marking a 2.4% rise from the previous year. Its consolidated operating profit surged by 27.7% to reach ¥120.6 billion, and the consolidated profit attributable to owners of the parent company increased by 10.5% to ¥94.5 billion. According to Yasushi Matsui, Denso's CFO, the revenue hike in the first quarter was...

Porsche has cut down its sales outlook for the fiscal year 2024 due to a significant supply shortage of aluminum components, which are used by the German sports-car maker in all its models, the company announced July 23. “The supply shortage is the result of the flooding of a production facility of an important European aluminum supplier who has informed its customers in writing of the occurrence of a force majeure event,” the Volkswagen-backed luxury performance carmaker said in a statem...

E.ON and MAN Truck & Bus have agreed to cooperate in jointly setting up about 400 electric vehicle charging stations for public charging of electric trucks across 170 locations in Europe, the two companies said in a joint announcement on July 11. The companies plan to invest in building new EV charging stations, which will be built along the existing MAN service network and will also be able to charge commercial vehicles from other manufacturers. Of the 170 locations, about 125 sites are ...

In a press release on July 9, Renault Group detailed its strategy for autonomous vehicles for 2024, aiming for a pragmatic approach by dividing research efforts between passenger cars and public transport vehicles. For passenger vehicles, Renault is focusing on Level 2 automation, exemplified by its Active Driver Assist system. This system features adaptive cruise control, lane keeping assist and geolocation data for predictive road adaptation. Renault plans to continue developing vehicles wi...

The Biden administration plans to award $1.7 billion in grants to General Motors (GM), Stellantis and others to convert existing plants to manufacture electric vehicles and components. The fund will be provided by the US Department of Energy under “Domestic Automotive Manufacturing Conversion Grants” to 11 “shuttered or at risk” plants in Michigan, Ohio, Pennsylvania, Georgia, Illinois, Indiana, Maryland and Virginia. The grant aims to bolster the US auto industry's competitiveness, reta...

Amara Raja Advanced Cell Technologies Pvt. Ltd. (ARACT), a wholly owned subsidiary of Amara Raja Energy & Mobility Ltd., one of India’s leading battery manufacturers, has signed a technical licensing agreement with GIB EnergyX Slovakia sro., a subsidiary of mainland China’s Gotion High-Tech Co Ltd., the two companies said in a joint announcement June 24. As part of the agreement GIB EnergyX will license Gotion’s world-class lithium iron phosphate (LFP) technology for lithium-ion cel...

British luxury-car maker Jaguar Land Rover (JLR) and Chery Automobile Co. are deepening their 12-year partnership to strengthen their equal joint venture company — called CJLR — product offerings in mainland China, JLR announced June 19. JLR and Chery have signed a letter of intent (LoI) to license the Freelander brand to CJLR for jointly developing a range of new electric vehicles to be built on Chery’s EV architecture. The two companies plan to establish a Freeland...

South Korean battery company SK On has successfully co-developed a polymer electrolyte for lithium-metal batteries that can operate at room temperature, the company announced June 17. The milestone was achieved in collaboration with a research team led by the late Professor John B. Goodenough from the University of Texas. The development of polymer electrolyte for lithium-metal batteries is expected to contribute significantly to improving solid-state battery performance and accelerate the de...

The European Commission’s new tariffs on made-in-China electric vehicles may slow down Chinese carmakers looking to grow sales in Europe, but would not stop leading players such as BYD from penetrating further and continuing to pose serious competition to local carmakers, according to a news report published by Nikkei Asia on June 13. Earlier on June 12, the European Commission announced that it plans to impose provisional countervailing duties on Chinese carmakers from July 4, if discussio...

The US state of Virginia plans to exit the California electric vehicle mandate as the current regulations expire by the end of 2024, according to a press note issued by the governor of Virginia on June 5. An official opinion from Attorney General Jason Miyares in response to a request by the Governor and Senate Republican Leader Ryan McDougle has confirmed that Virginia is not required to comply with expansive new mandates adopted by the unelected California Air Resources Board (CARB), set to...

Turkey plans to impose an additional tariff of 40% on vehicles imported from mainland China in order to protect its domestic automotive industry, according to a press release dated June 10. The move is also expected to prevent a potential worsening of its current account balance. The additional tariff will be set at a minimum of $7,000 per vehicle and will become effective from July 7. According to the Turkish Trade Ministry, if the 40% tariff calculated from the price of an imported vehicle ...

Factorial Inc., a leading solid-state battery technology company, has delivered B-samples of its 106+Ah lithium-metal solid-state battery cells to German luxury carmaker Mercedes-Benz as part of its ongoing joint development agreement, the company announced June 5. Factorial claims that the milestone marks the world’s first announced B-sample shipment of solid-state battery cells to a global automotive original equipment manufacturer, indicating remarkable progress toward product maturity a...

The US government has opened applications for a $1.3 billion funding opportunity for electric vehicle (EV) charging and alternative-fueling infrastructure in urban and rural communities and along designated highways, interstates, and major roadways, the US Joint Office of Department of Energy (DOE) and Department of Transportation (DOT) announced on May 30. The funding opportunity stems from the Bipartisan Infrastructure Law’s signature EV charging investments, such as the $2.5 billion Char...

On May 29, US Representative Elissa Slotkin introduced a new bill that would limit or ban the introduction of connected vehicles produced by mainland Chinese automakers in the US. The Connected Vehicle National Review Act aims to establish a formal national security review for connected vehicles built by companies from mainland China or other countries of concern. It would allow the US Commerce Department to limit or ban the introduction of these vehicles in the US market if they pose a threat t...

Mainland China must raise temporary tariffs on imported cars to a maximum of 25%, a senior executive from a government-affiliated automotive research organization said in an interview with state-run media publication Global Times on May 21. Liu Bin, chief expert of China Automotive Technology and Research Center and deputy director of China Automotive Strategy and Policy Research Center, has called for raising the import duty to 25% on gasoline cars with engines larger than 2.5 liters, potent...

Modine, a diversified global leader in thermal management technology and solutions, has reported total net sales of $2.4 billion for full financial year 2023–24, recording year-over-year growth of 5%, on increased demand for its products under climate solutions and performance technologies divisions, the company announced on May 21. Modine’s fiscal year 2023–24 operating income stood at $240.7 million, up a significant 60% year over year, and the company’s adjusted EBIDTA was at ...

The UK's Automated Vehicles (AV) bill has received royal assent and the AV Act has become law, according to the UK government's official website on May 20. Transport Secretary Mark Harper expressed his optimism, stating that self-driving vehicles could be seen on Britain's roads within the next two years. Harper emphasized that the deployment of this technology will not only enhance safety but also provide a significant boost to the economy. The newly enacted legislation applies nationwide, a...

In a press briefing May 16, Honda outlined its investment and technology development strategy for this decade. The automaker said the mid-2020s will be the transitional period, from internal combustion engines (ICE) to electric vehicles, emphasizing its flexibility in responding to changes in demand, business environment and the need to ensure profitability. Honda confirmed its electrification target to make EVs and fuel-cell EVs represent 100% of its global vehicle sales by 2040. As of 2030, Ho...

Mainland China has urged its domestic automakers, including BYD, Dongfeng, FAW, GAC and SAIC, to source up to a quarter of total chips locally, Nikkei Asia reported on May 16. Currently, these automakers meet around 10% of their total chip requirements locally. However, the Chinese Ministry of Industry and Information Technology expects these automakers to increase the local procurement to 20% or 25% by next year. According to the business daily, the 20%-25% goal refers to both the number of ...

Honda has signed a memorandum of understanding with IBM to collaborate on a long-term joint research and development of next-generation computing technologies such as chips for software-defined vehicles (SDVs), the company said in a press release May 15. The partners believe that SDVs will significantly increase the design complexity, processing capability and power consumption of semiconductors compared to conventional vehicles today. To overcome these anticipated challenges, it is critical ...

Stellantis N.V. and Leapmotor have received all the required regulatory approvals to establish their joint venture company, Leapmotor International B.V., Stellantis announced on May 14. The joint venture company, in which Stellantis will hold a stake of 51% and the remaining will be held by mainland China-based smart electric carmaker Leapmotor, will be headquartered in Amsterdam. Leapmotor International B.V. will be led by CEO Tianshu Xin, who is a former Stellantis China executive, Stellant...

Samsung Electronics has halted its autonomous vehicle research, joining Apple and other global automakers in abandoning Level 4 autonomous driving, according to a report by Business Korea on May 10. The company has shifted its development personnel to the robotics field as part of a strategy of selection and concentration. The decision comes amid a challenging landscape for autonomous driving technology, with numerous companies facing difficulties in development and lack of business prof...

MapmyIndia, a leading provider of deep-technology, digital maps, geospatial software and location-based internet of things products and services, has announced its financial results for fiscal year 2024, registering strong double-digit growth in new-order acquisition in both the domestic market and internationally.  The company achieved 4.17 billion rupees (about $50 million) in full-year revenue, representing a 32% year-over-year growth over the previous year's ...

According to a May 7 press release, GlobalFoundries (GF) has reported first-quarter 2024 revenue at $1.5 billion, a decrease of 16% year over year compared with fiscal year 2023. The company reported net income of $134 million and adjusted EBITDA of $577 million for the quarter.  Recent business highlights include: As part of the US CHIPS and Science Act, the US Commerce Department announced $1.5 billion in planned direct funding for GF’s New York, US, an...

The US government plans more than $100 million in new funding for small and medium-sized automotive component manufacturers, aiding them in expanding and retooling their manufacturing facilities, the White House said in a press note issued on May 6. The announcement comes as US Vice President Kamala Harris is on a nationwide Economic Opportunity Tour to take stock of new investments in the US automotive industry. According to the press note, the new funding of over $100 million for small a...

Milan-based supplier of air management, engine cooling and suspension systems Sogefi Group expects to close the sale of its Filtration business unit to the US private equity fund Pacific Avenue Capital Partners by the end of May, the company said May 6. Providing an update on the transaction, the company said that the sale and purchase agreement has already been agreed upon between both the parties and will be executed in the upcoming days. In a press note issued, Sogefi said that it has a...

Michigan, US-based global auto component major BorgWarner has reported its first-quarter 2024 net sales at $3.59 billion, recording a growth of 6% over first-quarter 2023 net sales of $3.38 billion, the company said May 2. BorgWarner attributed this year-over-year growth to an increased demand for its products. However, the year-over-year growth was partially offset by the negative impact of foreign currencies, it added. The company’s net earnings for the March quarter stood at...

Leading auto component supplier Magna International Inc. in a press release on May 3 reported a year-over-year increase of 3% in its first-quarter fiscal year 2024 net sales to $11 billion, ending March 31, 2024. The net income was $9 million for the first quarter of 2024 compared to $275 million in the first quarter of 2023. The adjusted earnings before interest and tax increased to $469 million in the first quarter of 2024 compared to $449 million in the first quarter of 2023. The comp...

Wolfspeed has posted revenue of $201 million for the third quarter of 2024, it said in a press release dated May 1. This represented an increase of 4% compared to the third quarter of 2023. Net loss for the quarter came in at $148.9 million, compared to net loss of $99.5 million in the third quarter of 2023. "We are pleased with the significant operational milestones achieved in the quarter for Wolfspeed as we continue to be the world’s first fully, vertically integrated 200-millimeter...

The US Transportation Department's National Highway Traffic Safety Administration (NHTSA) has finalized a new Federal Motor Vehicle Safety Standard that will make automatic emergency braking (AEB) standard on all passenger cars and light trucks by September 2029, according to a press statement dated April 29. The safety standard is expected to significantly reduce rear-end and pedestrian crashes. AEB systems can detect when a vehicle is about to crash and automatically apply the brakes. Pedes...

Anson Resources Ltd. announced May 1 that it has completed negotiations with South Korea’s largest battery-maker LG Energy Solution (LGES) and has executed its first offtake term sheet for the supply of battery-grade lithium carbonate from its 100%-owned project within the Paradox Basin in Southern Utah, Utah. The move, which represents a significant development toward establishing a local supply chain for batteries in North America, will contribute toward the US reducing its...

Denso has reported an 11.6% increase in fiscal-year 2024 consolidated revenue to ¥7.14 trillion (about $47.2 billion), according to a press statement dated April 26. Operating profit for the same period came in 10.7% lower at ¥380.6 billion, while the consolidated profit attributable to owners of the parent company decreased by 0.6% to ¥312.8 billion. The company attributed the revenue increase to strong vehicle sales in Japan and North America, as well as foreign exchange gains. In Japan,...

Intel has reported a 9% year-over-year rise in revenue for the first quarter of fiscal 2024 to $12.7 billion, compared to $11.7 billion in the first quarter of 2023, according to its press release on April 25. The company reported net loss of $0.4 billion compared to net loss of $2.8 billion in the first quarter of 2023. “We are making steady progress against our priorities and delivered a solid quarter,” said Pat Gelsinger, Intel's CEO. “Strong innovation across our client, edge and da...

Japan and Europe have agreed to cooperate in establishing a circular economy for critical materials that are used in producing batteries. According to a news report published by Nikkei Asia on April 22, Japan's Information-technology Promotion Agency (IPA), under the Ministry of Economy, Trade and Industry, plans to sign a memorandum of understanding (MoU) with European counterparts on information sharing and mutual certification. The partnership between the two regions will focus on sharing ...

TSMC has reported a consolidated revenue of NT$592.64 billion (US$18.87 billion) for the first quarter of fiscal 2024. This represented an increase of 16.5% year over year, but a drop of 5.3% from the previous quarter. Net income of NT$225.49 billion was up 8.9% year over year, while gross profit climbed 9.8% higher during the same period. In US dollars, first-quarter revenue was $18.87 billion. Gross margin for the quarter was 53.1%, operating margin was 42.0% and net profit margin was 38.0%...

Nidec has reported a 4.75% year-on-year increase in revenue for the fiscal year ending March 2024. Its revenue came in at ¥2.35 trillion ($28.22 billion) compared to ¥2.24 trillion, while net profit for the year nearly tripled to ¥125.39 billion. Operating profit for the same period rose 63% to ¥163.11 billion. The increase in operating profit is attributable to the results of continuous reduction in fixed costs on a global basis, and steady progress in manufacturing cost and sales price ...

With an increase global focus on sustainability and stringent regulatory requirements, the automotive industry is realizing the necessity of plastic recycling for sustainable development. Responding to this changing dynamics, German supplier, Covestro has announced joining hands with the automotive value chain, and is spearheading the concept of car-to-car closed-loop plastics recycling, which is emerging as a promising solution to tackle the challenges of plastic waste ...

Volkswagen, along with its software unit Cariad, is collaborating with Xpeng to unveil the China Electrical Architecture (CEA), a zonal electrical/electronic (E/E) architecture, it said in a press release dated April 17. The CEA is to standardize the digital architecture of its locally produced models in mainland China. The CEA will simplify the complexity of control units and reduce costs by 40% compared to the Modular Electric Architecture (MEB). The new architecture will be applied to four...

In a move to revive its electric vehicle portfolio and strengthen its market share in the world’s largest EV market, Japanese automaker Honda Motor Co. has introduced an all-new electric car brand — the Ye Series — for mainland China. On April 16 in Beijing, the company unveiled the first electric cars that will be launched under its Ye Series product lineup, namely the Ye P7, Ye S7 and a concept model called Ye GT Concept. Honda plans to launch a total of six EVs under its Ye Seri...

TTTech Auto has unveiled a software solution for workload management in the automotive sector called MotionWise Schedule, according to a press statement on April 17. It is an extension of its flagship product MotionWise, a safety middleware designed for distributed architectures requiring safety and real-time properties. MotionWise Schedule features MotionWise technologies, which enables a seamless integration with standardized-based as well as custom architectures. The solution enables highl...

Vulcan Energy Resources Ltd. has commenced the production of the first lithium chloride (LiCl) product at its lithium extraction optimization plant (LEOP) based in Landau, Germany, the company announced April 11. It said that the production of LiCl at LEOP in Germany marks a milestone as it is the first time that lithium chemicals are fully produced from a locally sourced raw material, including extraction, and then processed locally at plant scale in Europe. Vulcan Energy said that t...

South Korean carmaker Hyundai Motor Co., along with its sister company Kia Corp., has signed a memorandum of understanding (MOU) with Exide Energy Solutions Ltd., a leading Indian battery company, to focus on the localization of electric vehicle batteries in India, Hyundai said in a statement on April 8. The MOU, which is in line with the carmaker’s EV expansion plans for the world’s third-largest automotive market, was signed at Hyundai Motor Group’s Namyang Research and Developme...

South Korean carmaker Kia Corp. organized its 2024 CEO Investor Day in Seoul, South Korea, on April 5, sharing updates on its future strategies, goals for 2030, business roadmap to achieve those, as well as financial targets through the decade, according to a press release dated April 5. At the CEO Investor Day, Kia updated its mid-to-long term business strategy with a focus on electrification and its Platform Beyond Vehicle (PBV) business. The company reiterated its 2030 annual sales target ...

The construction of LG Energy Solution’s upcoming $5.5 billion, 53-GWh battery manufacturing complex in Arizona, US, is on track, with production operations expected to commence as early as 2026, the South Korean battery-maker updated on the sidelines of a stakeholder meeting on April 3 at Combs High School in San Tan Valley near the town of Queen Creek, Ariz., where the complex is located. The stakeholder meeting was attended by the senior leadership team, including Brian Oh, head of Mobil...

Israel-based extreme fast charging (XFC) battery technology company StoreDot has achieved more than 2,000 consecutive XFC cycles, with the silicon dominant battery cells still maintaining over 80% of their initial capacity, the company announced on April 4. These exceptional results, demonstrating high energy density, are from cells achieving at least 330Wh/kg and 860Wh/L at stack level. The cells were charged consecutively from 10% to 80% in 10 minutes, demonstrating a charge rate of 4.2C, w...

Software developer BlackBerry has reported a 30% year-over-year increase in full year 2024 revenue to $853 million, according to a filing on April 3. Net loss for the year narrowed significantly to $130 million from a loss of $734 million last year. Gross margin shrunk to 61% from 63.9% while research and development costs for the year came in 10% lower at $186 million. The increase in revenue was primarily owing to the sale of a legacy patent portfolio for $218 million in the first quarter. ...

Green Hills Software, a global leader in embedded safety and security, has announced its significant role in NXP Semiconductors' open S32 CoreRide platform, an industry-first vehicle software platform that streamlines complex vehicle architecture development.  The platform merges NXP's comprehensive hardware portfolio with Green Hills Software's reliable and secure foundational software solutions, offering vehicle manufacturers and tier 1s unique means to address vehicle architectur...

Mainland China’s largest battery-maker Contemporary Amperex Technology Co. Ltd. (CATL) is in talks with US legacy carmaker General Motors (GM) to build a battery plant in North America, leveraging the technology licensing route similar to its partnership with Ford Motor Co., according to a news report published by CnEVPost on March 29. The report cited mainland Chinese media outlet LatePost as the original source of the story. It said that CATL is in discussions with GM on a license roya...

Taiwan Semiconductor Manufacturing Co. (TSMC), the leading global producer of advanced semiconductor chips, halted certain chip manufacturing equipment and evacuated personnel following the most powerful earthquake to strike the island of Taiwan in 25 years, according to a Bloomberg report on April 3. As the primary contract chip manufacturer for tech giants such as Apple Inc. and Nvidia Corp., TSMC relocated staff from specific areas and is evaluating the repercussions of the 7.4 magnitude q...

BMW Group has partnered with engineering and digital services company Tata Technologies in India, it said in a press release dated April 2. Under the partnership agreement, the two companies will form a joint venture with the aim to establish a software and IT development hub in the cities of Pune, Bangalore and Chennai in India. While the hubs in Bangalore and Pune is expected to handle development and operations activities, the Chennai hub will focus on business IT solutions. The JV will le...

The Union Government of India has approved a new electric vehicle policy aimed at attracting global EV makers to invest in India (the world’s third-largest automobile market), build local manufacturing facilities and increase localization of critical components, according to a press note issued by the Indian Ministry of Commerce and Industry on March 15. The new scheme to accelerate investments in the emerging EV domain is aligned with the central government’s Make in India initiativ...

South Korean automaker Hyundai Motor Group plans to make a big-ticket investment of 68 trillion won (over $50 billion) on research and development projects, capacity expansion and recruitment of new talent between 2024–26, as the company prepares to transition to zero-emission mobility, Hyundai announced March 27. The earmarked investments are aligned with Hyundai Motor’s larger strategy of becoming one of the top three electric vehicle manufacturers globally by 2030. Hyundai’s inves...

On March 26, 2024, Nexteer Automotive, a major global automotive supplier, reported annual results for its fiscal year ended Dec. 31, 2023 — including a new company record of $4.2 billion in revenue. The company reported operating profit of $61.4 million. Net profit attributable to equity holders of 2023 was $36.7 million. While the company’s revenue performance outpaced the market, with an 11.1% year-over-year increase in revenue adjusted for foreign currency and customer commodity recov...

The European Union and the Kingdom of Norway have signed a memorandum of understanding (MoU) to launch a strategic partnership to develop sustainable land-based raw materials and battery value chains, the European Commission announced in a press note March 21. The MoU between the EU and Norway is being seen an important building block of the EU-Norway Green Alliance, as announced by European Commission President Ursula von der Leyen and Prime Minister of Norway Jonas Gahr Støre in April 2023...

Hyundai Motor Co.'s leading global automaker has decided to hone its electric vehicle price competitiveness through tech advancement and efficient manufacturing process, following in the footsteps of its rivals to cut costs as the car industry's prospects are clouded by slower-than-expected EV uptake, the Korea Economic Daily reported on March 21. The company’s Chief Executive Chang Jae-hoon said its main business strategy for this year is to enhance its EVs’ price competitiveness. In a s...

SAIC Motor, a leading automaker from mainland China with annual revenues of around $ 110 billion, and JSW Group, a $23 billion Indian conglomerate, have established their new strategic joint venture named JSW MG Motor India Pvt. Ltd, the two companies said in a joint announcement on March 20. With a focus on electric vehicles (EVs), the all-new joint venture aims to capitalize on the significant opportunities emerging in the fast-evolving Indian automotive sector, the two companies said in th...

In its first major milestone achieved, the European Union-funded Helena project has successfully developed the assembly of the first complete cells for solid-state batteries with halide electrolyte, the consortium announced on March 20. The achievement, which entails significant advancements linked to the electrochemical properties of the electrolyte, has been made possible after 20 months of exhaustive work by 15 European companies and entities coordinated by the CIC energiGUNE research cent...

ZF Friedrichshafen has posted a 6.5% year-on-year (y/y) growth in full year 2023 sales to €46.6 billion ($50.66 billion), a company filing on March 21 showed. Adjusted EBIT came in at €2.4 billion compared to €2 billion a year earlier while adjusted EBIT margin was 5.1% compared to 4.7% in 2022. Net profit fell to €126 million from €376 million due to significantly higher income taxes for the year. The company spent €3.5 billion in R&D during the year, up from €3.4 billion it s...

In a press release on March 20, the US administration has announced that Intel and the US Commerce Department have signed a non-binding preliminary memorandum of terms (PMT) for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects under the CHIPS and Science Act. The CHIPS Act funding aims to increase US semiconductor manufacturing and research and development capabilities, especially in leading-edge semiconductors. Intel is the only US company that both de...

The European Parliament has given a green light to the implementation of the stricter Euro 7 emission standards for passenger cars, vans, buses, trucks and trailers, the European Parliament announced March 14. The immediate next step includes a formal approval from the European Council before the Euro 7 emission standards enter into force. The Euro 7 norms are slated for implementation across Europe from July 1, 2025, for new light-duty vehicles and July 1, 2027, for new heavy-duty ve...

Ferroglobe PLC, a world-leading producer of silicon metal and ferroalloys, and Coreshell, a US-based battery technology company, have signed a memorandum of understanding (MOU) to jointly produce the first battery-ready metallurgical silicon for the development of low-cost, high-range electric vehicle batteries in compliance with the US Inflation Reduction Act, Ferroglobe said March 11. The strategic partnership between the two companies comes at a time when the US government is pushing corpo...

Autoneum has reported a 27.6% year-over-year increase in fiscal year 2023 revenue to CHF2.3 billion, in a press release dated March 13. The overall revenue increase was driven by a 17.4% increase in revenue for its Business Group North America and a 22.1% increase in revenue for its Business Group SAMEA.  Autoneum’s revenue in local currencies grew by 34.8% in 2023, supported by both organic and inorganic growth, as well as a favorable market environment. The company's earnings before ...

South Korean battery-maker LG Energy Solution (LGES) has signed an agreement with US technology company Qualcomm Technologies, with an initial plan to jointly develop advanced battery management system (BMS) diagnostic solutions for electric vehicles, LGES announced March 12. As part of this collaboration, the two companies intend to explore developing advanced solutions that can combine LGES’ battery diagnostic software with certain features and functionalities of Qualcomm’s Snapdragon D...

Israel-based extreme fast charging (XFC) battery technology company StoreDot has signed an agreement with mainland China-based battery-maker EVE Energy, securing state-of-the-art manufacturing capacity from EVE and moving a step closer to the mass production of its innovative XFC battery cells, the company announced March 11. The agreement, which was signed by both the companies on March 11, gives StoreDot access to EVE’s extensive manufacturing footprint and the ability to mass-produce its...

In a recent test conducted by the Insurance Institute for Highway Safety (IIHS), 13 out of 14 automated driving systems were found to have marginal or poor performance. The IIHS developed this rating system to evaluate the safety of these systems and their ability to keep drivers focused, according to a report published by IIHS on March 12. The ratings assess various aspects including driver monitoring, involvement and the encouragement of safety feature usage. Among the tested systems, only ...

Pony.ai, a global leader in autonomous mobility, signed a Memorandum of Understanding (MoU) with the government of the Grand Duchy of Luxembourg to advance the development of autonomous mobility in Luxembourg. The MoU aims to foster research, development and deployment of autonomous vehicles in the country through a collaborative partnership between Luxembourg and Pony.ai, as reported in a press release on March 7. Luxembourg presents an excellent opportunity for Pony.ai to further develop it...