Electric Mobility News

Tesla supplier LG Energy Solution Ltd (LGES) said it was looking at sites in Europe for a new battery plant and would ramp up production in Asia outside of China, where COVID lockdowns and rising costs were weighing on profits.

BluSmart, which runs an all-electric vehicle (EV) fleet, was expecting to finalise deals with impact funds and private equity investors within the next two months, Anmol Jaggi said.

Japan's Panasonic Energy Co, a major Tesla Inc supplier, said on Wednesday it had selected Kansas as the site for a new battery plant that state officials said would create up to 4,000 jobs with investment of up to $4 billion.

India's Mahindra & Mahindra could consider investing in a battery-cell company to meet future electrification needs, its CEO said, after the company raised funds for its new electric vehicle (EV) unit at a $9.1 billion valuation.

BYD held a brand conference in Tokyo and announced plans to start selling a small all-electric battery car called the ATTO 3 at the start of next year, followed by two additional EV models later in 2023.

The auto industry has been ramping up production of electric vehicles (EV) to meet a demand surge, driving up orders for batteries and raw materials such as lithium, cobalt, etc.

Under the plan, premiums for fully electric-powered vehicles priced below 40,000 euros will fall to 4,500 euros at the beginning of next year from 6,000 euros currently, and fall to 3,000 euros in the following year.

Tesla Inc faces a series of hurdles ranging from production snags to rising inflation that may hit profits, Wall Street analysts said on Tuesday, as the electric-car maker reported a fall in deliveries for the first time in two years.