Hyundai and Kia sold 6.67 million vehicles in 2021, about 3.7% less than their combined target of 6.92 million vehicles, largely due to supply problems including the chip shortage, which drove down vehicle shipment.
In a presentation to investors, Renault said a "pure electric entity" could be focused on France and be open to partnerships, while a separate one for the combustion engine and hybrid cars could be focused outside France and do the same.
Demand for nickel is expected to jump over the next decade as EVs go mainstream. Nickel bolsters energy storage in a battery's cathode, which in turn extends an EV's range. The auto industry is scrambling to boost EV range with large investments in research into more energy-dense batteries.
Mercedes-Benz aims at making the Vision EQXX more efficient and increasing electric range to a higher level and tyres' rolling resistance has a very crucial role to play in that development.
SAIC Motor Corp said on its official WeChat account that the fund will also look to invest in automotive electronics start-ups and will later be opened to external funds.
Data released by European Automobile Manufacturers' Association showed that self-charging hybrid cars outsold diesel cars in Europe for the first time in 2021, albeit by just 48 vehicles.
