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    How the Inflation Reduction Act of 2022 impacts the US EV ecosystem
    On 7 August 2022, Democrats in the US Senate passed the Inflation Reduction Act of 2022, which aims to not only take control of rising inflation by reducing the fiscal deficit but also invest in domestic manufacturing of renewable energy and electric vehicles (EVs), secure the necessary supply chain, and cut down the carbon footprint by roughly 40% by 2030. The proposal made within the purview of the Inflation Reduction Act of 2022 (IRA) expects to raise about USD739 billion and invest about ...
    Insights
    Software complexity starting to cost CEOs their job
    Complexity in the software has increased to a level where it has become not just difficult to debug and maintain, but it has compounded an OEM’s already difficult situation to comprehend the overall system interactions between various electronic control units (ECUs) and to properly test all the various combinations of features in a car. Most of the software in vehicles is written by suppliers that also use third-party software and work with externals, so the OEM’s control on the result is ve...
    Insights
    Pensana secures UK government funding for Saltend rare earth refining facility
    British mining company Pensana announced via press release on 22 July that it broken ground on and secured funding under the UK Government’s USD1.2 billion (GBP1 billion) Automotive Transformation Fund (ATF) for its rare earths processing plant in the Humber Freeport in Hull, Saltend, UK. According to the press release, the USD195 million plant will produce 12,500 tons of separated rare earths, including 4,500 tons of the critically important magnet metal rare earths (approximately 5% of wo...
    News
    Royal Gulf Industries to set up 35,000-ton lead acid battery recycling site in UAE
    Newspaper Khaleej Times reported on 4 August that Royal Gulf Industries will be investing USD17 million (AED62.4 million) to set up a used battery recycling center in the Ras Al Khaimah Economic Zone (RAKEZ), Emirates. According to the report, the new 110,000-square-foot site will recycle 35,000 tons of used lead acid batteries annually sourced from 58% of the car battery scrap generated in the country and produce 21,500 tons of lead ingots and 2,400 metric tons of plastic granules. The recyc...
    News
    CATL to invest about USD7.5 billion in setting up 100-GWh battery plant in Hungary
    China’s largest battery manufacturer Contemporary Amperex Technology Company Limited (CATL) plans to invest about EUR7.34 billion (about USD7.5 billion) in setting up a 100-GWh battery plant in Debrecen, east Hungary, the company announced on 12 August 2022. “Subject to the shareholder meeting approval, construction of the first production facilities will start within this year,” CATL said in an official statement last week. The planned battery plant in Hungary will be spread across an ...
    News
    Continental announces investment to expand production at Sibiu, Romania
    Continental has announced new investments at its headquarters in Sibiu, according to a press release on 11 August 2022. The company is getting ready to develop a new building, production module 7, which also entails expanding connected areas including the office, IT infrastructure, cafeteria, and logistics area. Currently, in the design stage, Module 7 will feature a floor space of more than 15,000 m² and seating for more than 700 people. Of this space, 6500 m² are allocated to the manufact...
    News
    Vishay’s Borgaro Torinese facility gets R&D grant for WATT4FRED project from EU
    Vishay Intertechnology has announced that its facility in Borgaro Torinese in Italy has received research results research and development (R&D) grant for its WATT4FRED project from the European Union and Piedmont government, according to a company press release on 3 August. The project will look to develop a new high voltage FRED Pt diode product line for the automotive market as well as industrial applications such as white goods, motor drives, and air conditioning. Under the project, the ...
    News
    Voestalpine to invest USD103 million to expand ultra-high strength steel capacity at Linz site
    Austrian steel manufacturer Voestalpine announced via press release on 11 August that it will investing USD103 million (EUR100 million) to increase the production capacity of ultra-high-strength (UHSS) steels at its Linz steelmaking sites. UHSS steel grades are increasingly being demanded by the premium automotive industry thanks to their ability to improve vehicle safety and reduce vehicle weight. According to the press release, the investment will involve setting up an integrated bypass ...
    News
    Bridgestone to invest USD27 million to increase supply of sustainable natural rubber from Indonesia
    Japanese tire manufacturer Bridgestone announced via a press release on 10 August that it plans to invest USD26.7 million by 2030 to enhance productivity of its natural rubber plantations in Indonesia to increase supply of the sustainable material. According to the press release, the investment will involve: Increasing the harvest area at the sites by double by 2035 when compared with 2022 projections Introducing elite trees with a stable harvest volume that are selected by genome ana...
    News
    Togg, Farasis Energy’s battery JV Siro produces first locally developed battery in Turkey
    Electric vehicle (EV) battery maker Siro, also known as Silk Road Clean Energy Storage Technologies, has started trial production and produced its first battery at the Battery Development Center in Gebze, according to a report published by TURKEY POSTS on 8 August 2022. The company, which is an equal joint venture between Turkish EV maker Togg and mainland Chinese battery company Farasis Energy, will supply batteries to Togg’s upcoming electric sport utility vehicle (SUV). Si...
    News
    Autonomous technology startup MAXIEYE closes C1 funding round
    MAXIEYE has completed its C1 round of strategic funding, it said in a press release on 8 August. Inno Chip, Cedarlake Capital, and Axera were among the investors participating in the round. The funds raised will be used for research and development (R&D) of high-level intelligent driving technologies and supply chain reserve for mass production of Level 2 or above passenger vehicles. “MAXIEYE , as a core technology service provider for intelligent driving, has realized a full-stack...
    News
    Micron to invest USD40 billion through the decade to build leading-edge memory manufacturing in US
    Micron Technology has announced plans to invest USD40 billion for leading-edge memory manufacturing, it said in a press release on 9 August. The investment will run through the end of the decade in multiple phases. Micron expects to begin production in the second half of the decade and ramp up overall supply. “This legislation will enable Micron to grow domestic production of memory from less than 2% to up to 10% of the global market in the next decade, making the US home to the most a...
    News
    EV Charging startup Witricity raises USD63 million in new funding round
    WiTricity has completed a new funding round of USD63 million, led by a USD25 million investment from Siemens AG, it said in a press release on 9 August. The round also included investment from Japan Energy Fund, Mirae Asset Capital, Stage One, Airwaves Wireless Electricity, and Delta Electronics, among others. “WiTricity has built a true technology platform supported by a robust patent portfolio and global automotive standards. This new capital will allow us to accelerate product to market ...
    News
    Vishay’s Italian facility gets R&D grant from EU
    Vishay Intertechnology has announced that its facility in Borgaro Torinese, Italy, has received research and development (R&D) grant from the European Union (EU) and the Regional Government of Piedmont for its Silicon Laser Annealing (SiLA) project, according to an official press release on 3 August. The scope of the project is to study and develop advanced low temperature processes to locally and selectively control the energy transferred to chips during fabrication. Significance: The ma...
    News
    Autoliv inaugurates new plant in Mexico to produce vehicle security equipment, steering wheels
    Autoliv has inaugurated a new USD60 million vehicle security equipment and steering wheels production facility at FINSA’s industrial park, Aguascalientes, Mexico, Mexico Business News reported on 4 August. Kevin Fox, president of the Americas, Autoliv, said, “This new facility, along with our facility in Matamoros, will allow us to continue to provide world-class support to our customers. This investment will increase capacity but will also allow us to streamline our manufacturing process...
    News
    Lynas to invest USD345 million to expand rare earth capacity at Mt Weld site
    Australian rare-earths mining company Lynas Rare Earths announced via press release on 3 August plans to invest AUD500 million (USD345 million) to expand capacity at its Mt Weld rare earth mine and concentration plant. According to the press release, the expansion will involve increasing feedstock production capacity (of rare earth ores) by 12,000 tons per annum (TPA) of Neodymium Praseodymium (NdPr) equivalent by 2024 and further increasing capacity by 2,400 TPA NdPr equivalent in later stag...
    News
    Silicon anode startup Nexeon raises over USD200 million in new funding round
    British silicon battery anode startup Nexeon announced via press release on 3 August that it had completed the second close of its fundraising with a total investment of USD170 million. The company stated that a further USD50 million of commercial investments had been made into its technologies from the latest investment round. According to the press release, investments in the latest round were made by American chemical manufacturing company Ingevity along with equity investors GLY Mobili...
    News
    Polymatech plans to invest USD1 billion to expand chipset manufacturing facility in Tamil Nadu, India
    According to a report published by Mint on 3 August 2022, Indian semiconductor manufacturing company Polymatech has planned to invest USD1 billion to expand its chipset manufacturing and packaging facility in Tamil Nadu, India. According to Polymatech's founding president Nandam Eswara Rao, the facility's initial phase would have the capability of producing 250 million chips annually. Rao noted that the business has applied for a 25% capital expense subsidy under the government's productio...
    News
    Hydro to expand low-carbon aluminum capacity at US site
    Norwegian aluminum manufacturer Hydro announced via press release on 1 August that it will be investing USD52 million (NOK500 million) in its extrusion plant in Cressona, Pennsylvania, US, to expand the site’s recycling capabilities. According to the press release, the investment will increase the use of pre- and post-consumer aluminum scrap to increase the site’s casting capacity by more than 50,000 tons annually. The project will also allow the plant to reduce the average carbon footpri...
    News
    Lotte Chemical, Lotte Aluminium to set up battery anode foil plant in Kentucky, US
    Korea JoongAng Daily reported on 27 July that Korean chemical company Lotte Chemical and Korean metals company Lotte Aluminium will be establishing a joint venture to set up a 36,000-ton battery anode foil plant in Kentucky, US by 2025. According to the report, the two companies will invest USD252 million (KRW330 billion) for the new factory with Lotte Chemical holding a 70% stake in the joint venture. Lotte Chemical Vice Chairman Kim Gyo-hyun is reported to have stated, “We will spare n...
    News
    CATL to move ahead with its battery plant investments in North America
    Mainland China’s largest EV battery maker Contemporary Amperex Technology Company Limited (CATL) will move forward with its plans of setting up a battery manufacturing plant in North America by 2026 and deliver lower-cost lithium iron phosphate (LFP-based) cell-to-pack or CTP batteries to the US automaker Ford Motor Company, a Reuters report published on 3 August 2022 said, citing a person aware of the matter. Reuters news report comes after Bloomberg News had reported on Tuesday that CATL ...
    News
    Ascend to invest up to USD1 billion in new battery materials recycling facility in Kentucky
    American battery materials manufacturing company Ascend Elements announced via press release on 1 August plans to invest up to USD1 billion to build a sustainable lithium-ion battery materials facility in Hopkinsville, Kentucky by fourth quarter 2022. According to the press release, the new 500,000-square-foot ‘Apex 1’ facility will process ‘black mass’ recovered from recycled electric vehicle batteries at the company’s Base 1 facility in Covington, Ga. to make new lithium-ion ...
    News
    LG Energy, Huayou to set up battery recycling joint venture in Jiangsu, China
    The Korea Herald reported on 26 July that Korean battery manufacturing company LG Energy had signed an MoU with Chinese battery materials company Zhejiang Huayou Cobalt to set up a battery recycling joint venture in Jiangsu, China. According to the press release, the two companies will set up a pre-treatment plant Nanjing to collect and process waste and used batteries and a post-treatment plant in Quzhou to extract cathode materials such as nickel, cobalt, and lithium from the processed batt...
    News
    Indian supplier Sundram Fasteners chalks out USD44.26 million capex plan to produce EV parts
    Indian automotive components supplier Sundram Fasteners have lined up capital expenditure of INR3.5 billion (USD44.26 million) to be spent over the next five years, a report published by news agency PTI said on 30 July 2022. It stated that the capex will be spent on developing and producing advanced technology components, including powertrain subassemblies for EVs as well as internal combustion engines. “The investments proposed to be made in this direction are expected to provide a major t...
    News
    Ford, Vale, and Huayou to set up 120,000-ton nickel plant in Indonesia
    Brazilian mining company Vale announced via press release on 21 July that it had signed a non-binding MoU with Chinese battery materials company Zhejiang Huayou Cobalt and Detroit automaker Ford to process nickel ore mined by Vale in Indonesia. According to the press release, the new refining plant, set to start operations in 2025, will produce 120,000 tons per annum of nickel-containing mixed hydroxide precipitate (MHP) that will be used downstream for battery cathode manufacturing. Ford ...
    News
    bp to invest over USD61 million in building new battery R&D facility in the UK
    London-based British oil and gas company BP plans to invest up to GBP50 million (over USD61 million) in building an electric vehicle (EV) battery testing center and analytical laboratory, according to a report published by the news website Electrive.com on 1 August 2022. The report stated that the planned EV battery research and development (R&D) facility will be located in Pangbourne, Berkshire, at bp’s existing global headquarters for its Castrol business. It further mentioned...
    News
    BMW launches second battery module production line at Leipzig plant in Germany
    BMW Group has launched the second battery module production line at its Leipzig-based plant in Germany, the company announced on 1 August 2022. The said production line is slated to supply the battery modules for the fully electric BMW i4, which is manufactured in Munich. According to the company, the first battery production line at the Leipzig plant went on stream in May 2021. The modules produced on that line are supplied for the BMW iX. The gradual expansion of electric vehicle (EV) ...
    News
    Inteva Products to open new technical center in Mexico
    Automotive tier-1 supplier of engineered components and systems, Inteva Products has announced that it is setting up a second engineering technical center in Mexico, according to a press release by the company on 26 July. The company did not disclose the total investment amount. The new center is expected to support automotive manufacturers and Inteva’s manufacturing facilities in the region. Marco vom Wege, VP and chief commercial officer, said, “We believe that opening this new facility...
    News
    NIO Power’s Hungary-based manufacturing plant to begin operations in September 2022
    Chinese electric vehicle (EV) maker NIO plans to commence operations at its upcoming battery swap station manufacturing plant in Hungary in September 2022, the company announced in a blog post on its website on 29 July 2022. The new plant announcement was made in the presence of Péter Szijjártó, minister of Hungarian Foreign Affairs and Trade, and Hui Zhang, vice president of NIO Europe Office, among other delegates in Budapest, Hungary. The plant will be managed by NIO’s battery swap bu...
    News
    Smart driving software startup LinearX secures Pre-A round financing
    LinearX, a smart driving platform software company has announced that it has completed a pre-A round of financing exceeding CNY100 million (USD14.82 million), according to a report published by Pandaily on 28 July 2022. Broad Vision Funds and Shenzhen Capital Group Co., Ltd. led the fundraising. All three of the company's previous shareholders remained investors, while Millennium Capital Partners served as the sole financial advisor. Since its inception in August 2021, LinearX has been ded...
    News
    Intelligent driving software startup Enjoy Move completes B1-round financing
    Enjoy Move, an intelligent driving high-performance computing software platform, has concluded a B1-round fundraising of more than CNY100 million (USD14.8 million), according to a news report published by Pandaily on 28 July 2022. Continental AG and Sense Capital, a SenseTime affiliate, spearheaded the fundraising. Horizon Robotics, one of the company's round-A investors also contributed to the investment. The new funds will primarily be utilized to improve the technical team, invest in ...
    News
    SK Group plans to invest USD22 billion in semiconductors, green energy in the US
    South Korea–based SK Group has planned to invest USD22 billion in high-priority areas including semiconductor chips and clean energy in the United States, accord to a report published by CNN Business on 26 July 2022. The investment announcement was made right after the organization's chip manufacturing division issued a warning about declining customer demand for technological items during the rest of the year. It also happened to coincide with a crucial vote on Tuesday in the US Senat...
    News
    USCM to invest in US Critical Metals’ Montana and Idaho rare earths projects
    US Critical Metals Corp. (USCM) announced via press release on 26 July that its wholly owned subsidiary US Energy Metals Corp. will invest in US rare earth projects currently held by US Critical Materials Corp. (Materials Corp). According to the press release, USCM will acquire the right to a 50% equity in US Rare Elements Corp. (USRE), a new entity created to hold a 100% interest in the Sheep Creek Property in Ravalli County, Montana (Sheep and the Lemhi Pass Trail Property in Lemhi County, ...
    News
    Zangge and Ultra Argentina to invest USD290 million in new Argentinian lithium projects
    News agency Reuters reported on 28 July that mining companies Ultra Argentina SRL and mainland China’s Zangge Mining will jointly invest USD290 million in northwest Argentina to explore and develop the lithium deposits in the region. According to the press release, the project will involve a USD40 million investment to develop the lithium Laguna Verde Project in the country’s Catamarca province followed by a USD250 million investment (by Zangge) to set up a refining site that will produce...
    News
    ZKW Group expands lighting production facility in Mexico
    Lighting specialist ZKW Group has announced that it is expanding its lighting manufacturing plant in Silao, Mexico, according to a press release published by ZKW on 27 July. The plant is being expanded by 15,700 square meters adding to a total of 48,700 square meters of production space. The facility produces headlights for premium automakers, such as BMW, Ford Lincoln, General Motors, Mercedes-Benz, Nissan Infiniti, Volkswagen, and Volvo. ZKW Mexico expects to produce approximately 3.5 milli...
    News
    Woodbridge opens new molded foam manufacturing facility in mainland China
    Materials company Woodbridge Automotive Components Co. has announced that it opened a new manufacturing facility for production of molded foam in Tianjin, mainland China, it said in a press release on 27 July. Kai Jacobsen, President, Molded Foam, said, “We are pleased to formally open this world-class manufacturing facility to our Asia-Pacific customers. This site will serve as an important plant for our operations within the region allowing us to keep up with the anticipated market growth...
    News
    Baosteel to set up 1 MTPY DRI plant in Zhanjiang, China for green steel production
    Italian industrial equipment supplier Danieli announced via a press release on 22 July that Chinese steelmaker Baosteel will be partnering with Tenova and Danieli to set up a new direct reduction plant in the Zhanjiang Economic and Technological Zone in Guangdong Province, China. According to the press release, the plant, set to begin operations in 2024, will use Danieli’s Energiron® ZR –Zero Reformer technology to annually produce 1 million metric tons of quality direct reduced iron (DR...
    News
    Tesla revises investment plan, aims to spend up to USD24 million over three years
    US electric vehicle (EV) maker Tesla is expected to spend between USD6 billion and USD8 billion in 2022, 2023, and 2024, each, as the company looks to ramp up production at its new facilities in Texas and Berlin, a Reuters news report published on 26 July 2022 said. The report said that Tesla Inc has increased its capital spending plan by USD1 billion, citing a regulatory filing by the EV maker on Monday that also disclosed a second subpoena related to chief executive Elon Musk’s go-private...
    News
    Volkswagen begins production of all-electric ID.4 compact SUV at Chattanooga plant in US
    Volkswagen has commenced the production of its all-electric ID.4 compact sport utility vehicle (SUV) in Chattanooga, Tennessee, US, the automaker said on 26 July 2022, adding that the model is VW’s first electric vehicle (EV) assembled in the United States. VW said that the consumers can expect ID.4 EVs to be delivered as early as October 2022. While the EV will be available in either rear-wheel- or all-wheel-drive 82 kWh battery form initially, the carmaker plans to launch a rear-wheel-dri...
    News
    Semiconductor company Vishay to expand production facility in Germany
    US-based semiconductor company Vishay has announced that it plans to invest EUR300 million (USD306.49 million) to expand its manufacturing plant in Itzehoe, Germany, electronics Europe News reported on 26 July.  Tilo Bormann, manager, Vishay, said, “The production expansion is aimed at meeting the future needs of the automotive industry, as Vishay has a solid customer base in Germany and Europe.” Significance: The first phase of the expansion will reportedly result in the creation...
    News
    Taiwan’s ProLogium plans USD8-billion overseas Gigafactory, meets French, American officials
    Taiwanese solid-state battery startup ProLogium Technology is in the process of selecting the location of its first overseas solid-state Gigafactory as it plans to ramp up its production capacity to cater to the requirements of its customers, the company said on 22 July 2022. ProLogium said that the company has earmarked total investments of more than USD8 billion for setting up its overseas Gigafactory. While the battery maker has already initiated a feasibility study for potential sites, sh...
    News
    HELLA opens new lighting production facility in mainland China
    Beijing Hella-BHAP Automotive Lighting, a joint venture (JV) between HELLA and BHAP, a subsidiary of the BAIC Group has announced that it opened a new lighting manufacturing facility in Changzhou, Jiangsu province, mainland China, HELLA said in a press release on 25 July. The new plant marks the JV’s third lighting facility in mainland China. Didier Keskas, who is responsible for HELLA's lighting business in the Asian region, said, "Emotional car body lighting has long since become a style-...
    News
    NAVYA raises over USD36 million from Negma Group to advance technological roadmap
    NAVYA has announced the signing of a funding agreement with the Negma Group for a total nominal amount of EUR36 million (USD36.47 million), according to NAVYA’s press release on 21 July 2022. Negma is an international investment company with its headquarters in Dubai, United Arab Emirates. According to the provisions of the contract, the financing will take the form of convertible bonds with an attached warrant allowing Negma to buy shares of Navya's capital stock, each of which has a nomin...
    News
    Startup Xinling Semiconductor concludes Pre-A financing round
    Xinling Semiconductor, a mixed-signal computer chip developer based in mainland China, has announced the completion of a pre-A round of financing, according to a report by 36Kr on 22 July. AAC Technologies, a global perceptual experience solutions provider, initiated the finance, followed by Rev Capital and further investment from current shareholder Jingwei Capital. The additional funding will be utilized for team investments, ongoing research and development (R&D), and de...
    News
    GEM invests USD450 million in direct lithium extraction startup EnergyX
    American lithium and battery technology company EnergyX announced via press release on 22 July that private equity-based investment group Global Emerging Markets (GEM) will be investing USD450 million into the company’s future growth plans. According to the press release, the proceeds of the investment will be focused on commercializing EnergyX’s high-efficiency lithium extraction and refinery technologies that have been identified to have the potential to disrupt the growing upstream lit...
    News
    SK On, Ford, and EcoPro BM to set up new cathode material site in North America
    South Korean battery manufacturing company SK On announced via press release on 22 July that the company will be partnering with Detroit automaker Ford and South Korean cathode material manufacturer EcoPro BM to set up a new cathode material plant in North America. According to the press release, cathode material produced at the site is expected to be supplied to BlueOval SK, a battery manufacturing joint venture (JV) established earlier this month between Ford and SK On. Significance...
    News
    Bridgestone invests in autonomous driving software startup TIER IV
    Bridgestone Corporation has announced that the company will invest in TIER IV, a startup that leads the development of Autoware, an open-source software for autonomous driving, according to Bridgestone’s press release on 19 July 2022. Bridgestone will collaborate with TIER IV to help build and deploy autonomous driving technologies. The Bridgestone Group has been contributing to the evolution of mobility by promoting autonomous driving technologies internationally; these actions are co...
    News
    Samsung Electronics plans to invest USD191.2 billion to build 11 new semiconductor plants in Texas, US
    Samsung Electronics has planned to invest nearly USD200 billion in 11 new chip-making plants in Texas over the next two decades to boost its semiconductor foothold in the US, according to a report published by The Wall Street Journal on 21 July 2022. The anticipated investment by the company was revealed in recent documents filings with the Texas Comptroller's office and made available to the public. A state incentive program in Texas that offered property tax reductions for significant ...
    News
    Nippon Denkai plans USD150 million EV battery materials plant in the US
    Nippon Denkai Ltd plans to invest USD150 million in building a state-of-the-art electro deposited copper foil (also called as Ed copper foil) plant in the US, the company said on 20 July 2022 in a regulatory filing. The planned production facility will be located in Augusta, Georgia and will have an annual capacity to produce up to 9,500 metric tons of ED copper foil for EV batteries. “Nippon Denkai aims to keep up with the fast-growing North American automotive electric vehicle battery and...
    News
    Samsung SDI invests USD1.3 billion on second battery production plant in Malaysia
    South Korean battery maker Samsung SDI plans to invest KRW1.7 trillion (about USD1.3 billion) in building its second battery production facility in Malaysia, the company announced on 21 July 2022. Samsung SDI, which organized a groundbreaking ceremony of its second battery plant on Thursday, said that the plant is slated to begin operations in a phase-wise manner as mass production will begin in 2024 whereas the construction is estimated to be completed by 2025. The battery plant 2 of Samsung...
    News
    ROHM expands Plexiglas molding compounds production facility in mainland China
    ROHM has announced that the company has broken ground to expand its Plexiglas molding compounds manufacturing plant in Shanghai, mainland China, it said in a press release on 18 July. Benjamin Ling, Asia President of ROHM, said, “This expansion is our response to the consistently high demand. We will further strengthen communications with our customers and support them closely in the development of their innovative applications.” According to press release, ROHM claims to be the o...
    News
    Steel Dynamics to set up USD1.9 billion recycled aluminum flat rolled mill in Southeastern US
    American steel producer Steel Dynamics (SDI) announced via press release on 19 July that it will be investing USD2.2 billion to set up a low-carbon, recycled aluminum flat rolled mill with two supporting satellite recycled aluminum slab centers in Southeastern United States. According to the press release, USD1.9 billion of the investment will be focused on developing the aluminum mill that will annually produce 650,000 tons of finished products from the first quarter of 2025 for the sustaina...
    News
    Toshiba Materials makes investment to increase production of silicon nitride balls
    Toshiba Materials has announced that it will make an investment to the tune of around JPY5 billion (USD38 million) to increase manufacturing capacity at its Yokohama site in Japan. In a press release dated 20 July, the company said that it would manufacture silicon nitride balls to cater to the electric mobility market. Production is expected to begin in November 2023 and the capacity will increase by 50% against fiscal year 2021. Significance: Silicon nitride balls are optimal for e-mobility...
    News
    Alcoa expands aluminum casting capacity at Deschambault smelter with USD8 million investment
    American aluminum company Alcoa announced via press release on 8 July that it had invested USD8 million to increase casting capabilities at its 287,000-ton Deschambault smelter in Canada to include standard ingots. According to the press release, the new standard ingot casting equipment will allow the company increased flexibility to produce smaller batches of value-added foundry alloys for the automotive industry. Alcoa EVP and Chief Commercial Officer, Kelly Thomas, stated, “We are wor...
    News
    Skeleton Technologies plans to build a supercapacitor plant in Leipzig, Germany
    Estonia-based battery company Skeleton Technologies plans to build Europe’s largest supercapacitor production facility in Leipzig, Germany, with the support of Siemens, according to a news report published by Electrive.com on 19 July 2022. It said that Skeleton Technologies plan to invest EUR220 million (about USD225 million) in setting up the new production plant as well as on the research and development (R&D) work at the site. Citing the company, the news report mentioned that S...
    News
    CATL evaluating locations in Mexico for USD5 billion gigafactory, may supply Tesla, Ford
    China’s largest EV battery manufacturer Contemporary Amperex Technology Company Ltd (CATL) is evaluating two locations in Mexico for setting up its battery production plant for its customers in North America, primarily Tesla and Ford Motor Company, a news report published by China Daily on 19 July 2022 said. CATL is closely evaluating two cities in Mexico namely Ciudad Juarez of Chihuahua and Saltillo of Coahuila for its planned EV battery plant, the report said, citing another Bloomberg re...
    News
    Johnson Matthey to build USD96 million gigafactory for hydrogen fuel cell components in the UK
    British specialty chemicals company Johnson Matthey plans to build a GBP80 million (USD96 million) gigafactory at its existing site in Royston, UK, to scale up the manufacture of hydrogen fuel cell components, the company said on 18 July 2022. The company said that the proposed gigafactory will initially be capable of manufacturing 3GW of proton exchange membrane (PEM) fuel cell components annually for hydrogen vehicles. The planned facility will also be supported by the UK Government through...
    News
    Volkswagen Group Components to expand capacity at Braunschweig plant in Germany
    Volkswagen Group Components plans to expand the production of electric vehicle (EV) components including the portfolio of battery systems, next generation steering systems and brakes, among others at its Braunschweig-based manufacturing plant, the company said on 15 July 2022. The company has also started preparing for the future SSP platform as well, it said on the sidelines of the Site Symposium on Friday last week. While the portfolio and capacity expansion are part of Volkswagen Grou...
    News
    Ford Motor upgrades Cologne plant to produce electric cars in Europe
    Ford Motor Company’s Cologne-based manufacturing plant in Germany is being prepared to produce electric cars in Europe at a time when the assembly lines at the unit are idle on account of factory vacation, the automaker said on 15 July 2022.   The company said that the vehicle assembly lines at the Cologne plant are slated to remain idle until 1 August 2022 on account of factory vacation. However, vacation is being utilized by the company in retooling and expanding capacity to produce ...
    News
    Indie Semiconductor’s new engineering center in Germany to focus on automated driving technology
    Indie Semiconductor has opened its new engineering center of excellence (CoE) in Dresden, Germany, it said in a press release on 18 July.   Donald McClymont, cofounder, CEO of indie, said, “Europe is the second largest vehicle market in the world and accounts for approximately 20% of global production and sales. By expanding our footprint in Germany, the Dresden CoE plays an important part in our strategy to provide high-quality, local resources in a country that is known for automotiv...
    News
    NEV brand NETA Auto raises several hundred million CNY in D3 funding round
    NETA Auto has raised several hundred million of CNY as a part of its recently concluded D3 funding round, Pandaily reported on 15 July. The round was led by Dayone Capital. NETA is also funded by internet security company Qihoo 360 and battery company CATL. Significance: NETA Auto is an automobile brand owned by Hozon. The company is growing rapidly, with cumulative delivery volume rising nearly 200% year-on-year (y/y) in the first half of 2022 at 63,131 units. Delivery volume in June alone r...
    News
    Toyoda Gosei opens new weatherstrip manufacturing plant in mainland China
    Hubei Toyoda Gosei Zheng Ao Rubber and Plastic Sealing Technology, a Toyoda Gosei company has inaugurated a new weatherstrip manufacturing facility in Hubei province, mainland China, according to a press release published by the Japanese supplier on 15 July. Toru Koyama, Toyoda Gosei President, said, “With the establishment of this new plant we can meet our customers’ needs for production increases in central China. We hope to make a greater contribution to the regional economy through gr...
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    Lidar technology startup Blickfeld secures USD15 million from European Investment Bank
    The European Investment Bank (EIB) has announced that it is providing EUR15 million (USD15.02 million) in financing to Blickfeld GmbH, a manufacturer of hardware and software for smart lidar solutions, according to a press release by EIB on 14 July 2022. The money comes from the EIB's venture loan program, which is designed to meet the financing needs of high-growth, creative enterprises. The sums are secured by a guarantee from the European Fund for Strategic Investments (EFSI), also kn...
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    Rio Tinto invests USD188 million to expand low-carbon aluminum billet capacity at Quebec site
    Anglo-Australian mining company Rio Tinto announced via press release on 13 July that it was investing USD188 million to increase production capacity of low-carbon aluminum billets at its Alma smelter in Lac-Saint-Jean, Quebec, Canada. According to the press release, the investment, involving equipment of a new casting pit and furnaces, will allow aluminum billet capacity at the site to increase by 202,000 tons by the first quarter of 2025. MD of Rio Tinto Aluminium’s Atlantic Operations...
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    Umicore to set up USD1.2 billion battery cathode materials plant in Ontario by 2025
    Belgian chemical company Umicore announced via press release on 13 July that it will be investing USD1.2 billion (CAD1.5 billion) to set up a cathode active material (CAM) and precursor cathode material (pCAM) manufacturing facility in Loyalist, Ontario, Canada. According to the press release, the company is targeting construction of the site to begin in 2023 and operations to begin by the end of 2025. The new facility, funded partly by the Canadian government’s Strategic Innovation Fund, w...
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    Ford Motor, SK On conclude EV battery joint venture in the US
    Ford Motor Company and its South Korean battery partner SK Innovation have concluded their agreement of setting up a joint venture (JV), BlueOval SK LLC, for building electric vehicle (EV) battery production plants in the US, a Reuters report published on 14 July 2022 said. The JV company is slated to establish a battery plant for EVs in Tennessee and two other facilities in Kentucky, the report said, citing a regulatory filing by the Ford Motor Company. BlueOval SK is expected to have a prod...
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    Quanta Computer plans to invest USD130 million in new plant in Nuevo Leon, Mexico
    Quanta Computer, a hardware devices manufacturer, has announced its plan to invest USD130 million to bring part of its production from Shanghai and Taiwan to its assembly plant in Nuevo Leon, Mexico, according to a report published by the Mexico Business News on 14 July 2022. The plant will focus on electronic manufacturing and will produce “a device that helps to control different functions of a vehicle, [and] it is the most complex machine that we are manufacturing,” said Pedro Cam...
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    ThunderX secures funding from Qualcomm Ventures to advance autonomous driving technology
    ThunderX Auto Technology has announced that it has closed a financing round with Qualcomm Ventures, according to a press release on 14 July 2022. The funding will be used to invest in research and development (R&D) for fundamental advancements in high-quality mass production, autonomous driving, and a talent development system. Wenguang Wu, chairman of ThunderX said, "We appreciate Qualcomm Ventures for their recognition and support for ThunderX through their investment. In the future, we...
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    Salzgitter to invest USD723 million in new green steel facilities in Germany
    German steel company Salzgitter announced via press release on 13 July that its Supervisory Board had approved the release of USD723 million (EUR723 million) for funds for investment in the first development stage of the company’s SALCOS green steel project. According to the press release, the company’s SALCOS project involves the stage-wise replacement of its existing blast furnaces with direct reduction plants (DRI) and electric arc furnaces (EAF) for the production of steel with a sign...
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    Covestro breaks ground on two new polymer resin, elastomers production plants in mainland China
    Materials company Covestro has broken ground on two new production facilities in Shanghai, mainland China to manufacture polyurethane dispersions (PUDs) and elastomers, it said in a press release on 8 July. The new facilities will be located within the Covestro Integrated Site Shanghai. Holly Lei, president of Covestro China, said, "These projects will contribute to the high-quality and sustainable development in China and beyond. They will also add to the scale and strength of our Shanghai s...
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    Panasonic to set up USD4 billion battery plant in the US for Tesla
    Japanese conglomerate Panasonic Holdings Corporation plans to invest USD4 billion in building its second electric vehicle (EV) battery production plant in the US, its subsidiary Panasonic Energy Company Ltd announced on 14 July 2022. The announcement has come after the US state of Kansas approved an ‘Attracting Powerful Economic Expansion or APEX’ incentive application submitted by Panasonic Energy earlier with an intent of setting up a battery plant, it said in an official statement...
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    Umicore plans to build a large-scale fuel cell catalyst plant in Changshu, China
    Brussels-based materials technology company Umicore plans to invest in building a large-scale fuel cell catalyst plant in Changshu, China, the company announced on 7 July 2022. The said fuel cell catalyst plant in China is aimed at positioning the company as an early mover in securing opportunities in the fast-emerging fuel cell market in China. According to the company, the said plant will enable the accelerated transformation to hydrogen-based clean mobility, serving demand through to 2030....
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    Bosch plans to invest USD3 billion in semiconductor chip business by 2026
    Bosch has announced that it has planned to invest another EUR3 billion (USD3.009 billion) in its semiconductor division as part of the IPCEI funding program on microelectronics and communications technology by 2026, according to a press release on 13 July 2022. The company intends to further strengthen its own semiconductor business. “Microelectronics is the future and is vital to the success of all areas of Bosch business. With it, we hold a master key to tomorrow’s mobility, the interne...
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    Aluminum recycling startup Sortera raises USD10 million during Series B funding round
    US aluminum company Sortera Alloys announced via press release on 7 July that it had raised USD10 million in funding from venture capital firms Assembly Ventures and Breakthrough Energy Ventures as well as American aluminum company Novelis. Sortera CEO Michael Siemer discussed the importance of the funding, stating, “We are thrilled to have this important investment from Assembly, together with additional funds from Breakthrough Energy Ventures and Novelis. The funding will be used to help ...
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    May Mobility raises USD111 million in Series C funding
    The US-based autonomous vehicle technology developer May Mobility has announced that it has closed a USD111 million Series C round of funding, according to a press release on 12 July 2022. The company said that it intends to pursue its deployment initiatives using the Toyota Sienna Autono-MaaS vehicle platform while also beginning development on another vehicle design centered on mobility, Toyota's e-Palette, signaling the next potential milestone as it seeks new ways to bring equit...
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    ZF to build to new airbag cushions manufacturing plant in mainland China
    German auto parts supplier ZF has announced that it will build a new EUR60 million (USD60.57 million) passive safety components production facility in Shandong province, mainland China, Invest in China reported on 12 July.    Renee Wang, president of ZF China and SVP of ZF Operations Asia Pacific, said, "We will continue to cultivate the Chinese market, enhance innovation and development capability, promote digital manufacturing, stay close to and lead the market and technology tren...
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    Indian automaker Mahindra mulls investing in EV battery cell company to secure supplies
    Mumbai-based vehicle manufacturer Mahindra and Mahindra Ltd (M&M) could consider investing in a battery manufacturing company to secure appropriate supply of batteries for its future electric vehicle (EV) line up, a Reuters news report published on 10 July 2022 said, citing the company CEO. The comment from the M&M CEO came after the company signed a binding agreement with British International Investment (BII) to invest USD250 million each in a wholly owned subsidiary dedicated to th...
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    POSCO International to set up EV parts plant in Mexico
    POSCO International has started constructing an electric vehicle (EV) parts manufacturing facility in Mexico, according to a report published by The Korea Herald on 7 July 2022. The report said that the new facility, which is being built on a site located in Ramos Arizpe in the state of Coahuila in northeastern Mexico, While the company plans to inject about KRW160 billion (USD123.2 million) in the venture through 2030 to produce and supply electric motor cores, the report said that the inves...
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    Continental to build new hydraulic hose manufacturing plant in Mexico
    Global automotive parts supplier Continental has announced that it will invest USD40 million to build a new manufacturing plant in San Luis Potosí, Mexico, it said in a press release on 30 June. The new plant will increase the capacity for a variety of hose solutions to meet expanding demands in North America. Andreas Gerstenberger, responsible for the global business area Industrial Fluid Solutions at Continental said, “The over-proportional growth in North America is a focus fo...
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    Albemarle to set up new 100,000 TPY lithium refining plant in the US
    News agency Reuters reported on 27 June that specialty chemicals manufacturing company Albemarle plans to set up a lithium processing plant in the United States to serve the growing domestic electric vehicle (EV) market. According to the report, the new US plant should produce as much refined lithium as the company currently produces throughout its global operations. The plant will likely be located in the southeast US within rail access of a major port. The company is curre...
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    Hydro to increase HyForge aluminum production capacity at Rackwitz plant by 25,000 TPY
    Norwegian aluminum manufacturer Hydro announced via press release on 7 July that it had started expanding aluminum recycling capacity at its Rackwitz, Germany, plant to enable increased production of HyForge aluminum for the automotive industry. According to the press release, the USD40.3-million (EUR40.0 million) recycling capacity expansion will allow the company to increase annual production of HyForge aluminum extrusion ingots at the German site to 120,000 tons per year (TPY). The company...
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    MAHLE Powertrain sets up new vehicle, battery test facilities in Northampton, UK
    MAHLE Powertrain has opened two new R&D facilities in Northampton, UK, further building upon its propulsion engineering capabilities, the company announced on 7 July 2022. It said that the purpose-built facilities allow MAHLE Powertrain to support its customers in the development and research of new vehicles, batteries, and hydrogen technologies. Notably, the new R&D facilities, which would be capable of conducting rigorous tests even under the most extreme simulated environmental con...
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    UL Solutions’ new facility in Taiwan to focus on E-mobility solutions
    Applied safety science company UL Solutions has announced that it opened a new state-of-the-art E-Mobility and Energy Laboratory in Taiwan, according to a press release on 7 July. The new technology center will support in R&D and innovation toward electric bike (eBike) power systems and electric vehicle (EV) charging power and storage battery capacity testing. Jonathan TH Chen, VP and MD, UL Solutions in Taiwan, said, "UL Solutions has maintained a close relationship with Taiwanese manufa...
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    Volkswagen breaks ground of its first battery cell factory in Salzgitter, Germany
    German automaker Volkswagen (VW) broke ground of the first of its six planned battery cell factories in Salzgitter, Germany on 7 July 2022. It said that the production of EV batteries is slated to start in 2025. VW has named its battery division as ‘PowerCo,’ establishing it as a separate company that would be responsible for all activities along the entire battery value chain. The carmaker said that PowerCo will invest more than EUR20 billion (USD20.36 billion) together with its par...
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    Volkswagen plans on big investment in mainland China to boost software development, says CEO
    Volkswagen Group is looking to invest big in mainland China, Bloomberg reported on 6 July, quoting CEO Herbert Diess. The German automaker is looking to employ “several thousand” software engineers and catch up with local rivals in equipping cars with the latest digital technology. Significance: With mainland China being Volkswagen’s biggest market, the automaker is looking to catch up with local rivals such as XPeng, Nio, and BYD which offer karaoke microphones and cameras for singing ...
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    Hydro invests USD30 million in new aluminum extrusion press for Danish plant
    Norwegian aluminium manufacturer Hydro announced via press release on 7 July that it had invested USD30 million (NOK300 million) to install a new 6,000-metric-ton, 12-inch extrusion press in its Tønder plant in Denmark. According to the press release, the new press will produce extrusions of large cross-sections primarily for applications in hybrid and electric vehicles (EVs). Examples of extruded automotive components the company intends to fabricate at the site utilizing the new press incl...
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    Tianqi Lithium raises USD1.7 billion in Hong Kong IPO
    The Financial Times reported on 6 July that mainland Chinese mining company Tianqi Lithium Corp. had raised roughly USD1.7 billion after listing its shares on the Hong Kong Stock Exchange. According to the report, the company sold 164 million shares at USD10.45 (HKD82) per share during the IPO that was sponsored by Morgan Stanley, China International Capital, and CMB International Capital. Primary buyers of the shares included South Korean battery manufacturer LG Chem and mainland Chinese ...
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    FEV’s new Smart Mobility Center in India to focus on intelligent, electric mobility
    Germany-based automotive engineering services company FEV has announced that it opened a new Smart Mobility Center in Pune, India to advance intelligent and electric vehicle (EV) mobility, according to a press release published by the company on 7 July. Vijay Sharma, Managing Director, FEV India, said, “Establishing our new offices for vehicle development and intelligent mobility solutions is a big step towards further growth, as well as strengthening our existing partnerships. With our ski...
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    Continental to invest USD126 million on R&D in Karnataka state, India
    Continental has signed an MoU under which it would make investments of around INR1 billion crores (USD126 million) in the southern Indian state of Karnataka, Autocar reported on 6 July. The proposed investment is for enhancing its Research & Development organization, Technical Center India (TCI), which is expected to employ about 6,000 people. Significance: Continental has been present in India for nearly 50 years, and has made significant investments in the country, especially in Ka...
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    Toyoda Gosei to Invest in automotive interior, exterior parts manufacturing facility in mainland China
    Japanese supplier Toyoda Gosei has announced that the company, through its Toyoda Gosei (China) Investment Co. ltd. (TG China), is investing in Wuhan Binyu Auto. Part Co., Ltd. to further strengthen the supplier’s production capabilities in central China, it said in a press release on 6 July. Significance: Wuhan Binyu is a production company in the Yibin Group (Ningbo Yibin Electronic Technology Corp.) that supplies automotive interior and exterior parts in mainland China’s major aut...
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    BMW Group plans to develop and produce e-drives at Steyr-based plant in Austria
    German luxury automaker BMW Group plans to design, develop and manufacture the next generation electric drives at its Steyr-based plant in Austria from 2025, the company announced on 20 June 2022. BMW said that it plans to invest around EUR1 billion (USD1.03 billion) in building its competence in this area through the decade. The automaker aims to make its Steyr-based plant in Upper Austria the leading drivetrain facility within its global production network, besides significantly increasing ...
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    SAE Shanghai plans to invest in G-Pal to support autonomous driving technology development
    SAE Industrial Consulting Services (SAE Shanghai), a wholly owned foreign subsidiary of SAE International, has planned to invest further in autonomous and driverless technologies by supporting Geometrical Perception and Learning (G-PAL) in China, according to a press release on 30 June 2022. The organization said that it views China as a mobility innovator and G-Pal as a key partner to access regional resources and technologies. The strategic alignment of SAE and G-Pal in the area of autonomo...
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    FREYR Battery expands Giga Arctic project in Norway to 29GWh, approves construction
    Norwegian battery maker FREYR Battery announced on 29 June 2022 that the company’s Board of Directors has approved the expansion of the planned Giga Arctic project under development in Mo i Rana, Norway, to an annual capacity of 29 GWh. Additionally, the board also approved the construction of Giga Arctic, it said, adding that the approval follows substantial completion of detailed plant engineering, establishment of procurement frameworks with key raw material and capital equipment supplie...
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    Mercedes-Benz aligns global production network to manufacture luxury EVs
    German luxury carmaker Mercedes-Benz has laid out a detailed plan to align its global production network to manufacture its all-new product portfolio focused on luxury electric vehicles (EVs), the company said in an announcement on 29 June 2022. It is known that Mercedes-Benz plans to go all electric by the end of the decade, wherever market conditions allow, by focusing on three vehicle categories—top-end luxury, core luxury, and entry luxury, as outlined in the company’s Economics of De...
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    GravitHy to set up USD2.3-billion green steel raw material plant in France by 2027
    French energy company Energie announced via a press release on 30 June that consortium GravitHy will mobilize USD2.3 billion's (EUR2.2 billion's) worth of investment to commission a new direct reduced iron (DRI) plant in the area of Fos sur Mer, southern France.  The consortium was jointly formed by EIT InnoEnergy, US electrolyzer manufacturer Plug Power, UK steel plant developer Primetals, French energy company Engie New Ventures, French automotive technology firm Forvia, and French rea...
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    Sibanye-Stillwater increases equity stake in Finnish lithium hydroxide company Keliber to 50%
    South African mining company Sibanye-Stillwater announced via a press release on 30 June that it had increased its equity shareholding in Finnish mining and battery chemical company Keliber Oy to a 50%-plus-1 share. Keliber owns an advanced lithium hydroxide project located in the Kaustinen region of Finland. According to the press release, the mining company will simultaneously be making a voluntary cash offer to minority shareholders of Keliber to increase its own shareholding in the com...
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    Volvo Cars to invest USD1.25 billion in building a new electric car plant in Slovakia
    Swedish carmaker Volvo Cars plans to invest EUR1.20 billion (USD1.25 billion) in setting up an all-new electric vehicle (EV) plant in Slovakia, the company announced on 1 July 2022. The proposed EV production facility in Slovakia, which will be Volvo Cars’ third manufacturing plant in Europe, will be located close to Kosice, in the eastern part of Slovakia. According to the company, the chosen location for the upcoming plant will benefit the production facility from a well-established aut...
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    Pirelli secures USD417-million loan to finance Scope 3 emission reduction plans
    Italian tire manufacturer Pirelli announced via a press release on 22 June that its Board of Directors had approved the underwriting of a sustainability-linked credit line with international banks for an amount of up to USD417 million (EUR400 million). According to the press release, the credit line, benchmarked to Pirelli’s targets to reduce its Scope 3 absolute greenhouse gas emissions from raw materials purchased, will have a 19-month maturity period. The line is expected to be used to r...
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    Audi FAW NEV Company lays foundation stone for EV factory in Changchun, China
    Audi FAW NEV Company has laid the foundation stone for its all-new factory, which will roll out all-electric Audi cars, in Changchun, China, the company announced on 29 June 2022. The upcoming factory is slated to produce EV models based on Audi’s PPE (Premium Platform Electric) technology platform for the Chinese market, it said. While the construction of the proposed EV factory has already begun, the facility is expected to be ready by end of 2024 and will become the first automotive plan...
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    Solid-state battery startup Basquevolt raises EUR10 million in seed funding
    Basquevolt has announced the completion of its first seed funding round of EUR10 million (USD10.6 million) led by a group of investors from government, energy and automotive industries, it said in a press release on 28 June. The seed investment was led by the Basque Government with participation from Iberdrola, CIE Automotive, Enagás, EIT InnoEnergy, and CIC energiGUNE. “Our society is now engaging actively the phase out of fossil fuels in order to ensure that we collectively achieve a sus...
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    French battery maker Foresee Power to set up 3GWh gigafactory in Ohio, US
    French battery maker Forsee Power plans to set up its North American headquarters and a gigafactory in Hilliard, Ohio, US, the company announced on 27 June 2022 on the sidelines of the SelectUSA Investment Summit in Washington DC. Foresee Power said that the company would invest EUR13 million (USD13.72 million) in setting and scaling up its gigafactory in the US over the next four years. The battery plant, which is slated to achieve a production capacity of 3 GWh in the US by 2026, is expecte...
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    Volkswagen, Siemens make joint equity investment of USD450 million in Electrify America
    Volkswagen Group and Siemens have made a joint equity investment of USD450 million to support the growth of Electrify America, one of the largest public fast charging networks for electric vehicles in North America, VW said in a statement on 28 June 2022. Siemens, which has invested with a low triple-digit million USD through its financing arm Siemens Financial Services (SFS), becomes a minority shareholder in Electrify America and gets a seat on the company’s board, the company said. It ad...
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