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President Biden came out swinging this week when he announced a series of steep tariffs on Chinese imports, including 25 percent on certain steel and aluminum products, 50 percent on semiconductors and solar panels and 100 percent on electric vehicles. The administration’s official reason for the policy is simple: Chinese imports are undercutting American manufacturers in swing states like Michigan, Wisconsin and Pennsylvania. And Mr. Biden wants to protect them from competition, as he pours huge amounts of government money into building up the manufacturing of electric vehicles and solar panels that can eventually compete with China’s inexpensive offerings. But the truth is, these new tariffs on electric vehicles are little more than a handout to legacy car companies like General Motors and Ford. With more cash and better credit, wealthy Americans are the only ones who can afford the electric vehicles currently on the market, which cost over $55,000 on average.

Persons: Biden, aren’t Organizations: General Motors, Ford Locations: American, Michigan , Wisconsin, Pennsylvania, United States, U.S

☆ Copper is critical to energy transition. The world is falling way behind on producing enough
▼ + stars: | 2023-09-27 | by ( Bob Woods | ) www.cnbc.com time to read: +8 min

watch nowIn the meantime, copper customers, in anticipation of shortages, are either delaying clean energy projects or reducing their need for copper, an economic principle known as demand destruction. Among other actions, it would dismantle most of the clean energy projects initiated by the Biden Administration. At that point, the consensus was that there would be a major copper supply response. That's presented the industry with a whole new era of copper demand, Adkerson said. China's economy has slowed, while those in the U.S. and Europe are striving to transition to clean energy.

Persons: Wood Mackenzie, Nick Pickens, we've, we're, Tesla, eyeing, Rishi Sunak, Richard Adkerson, he's, Adkerson, That's, Clayton Walker, Matt Murphy, Murphy, Walker Organizations: Polska Miedz SA, Bloomberg, Getty, EV, P, International Energy Agency, Heritage Foundation, Republican, Biden Administration, Phoenix, Resources, Freeport, Afp, Rio, Barclays, Rio Tinto, Caterpillar Locations: Glogow, Poland, Wood, EVs, McMoRan, Freeport, China, U.S, Europe, Papua, Freeport's Indonesia, Rio Tinto, Mongolia, Salt Lake City , Utah, Indonesia, Rio

☆ Ford Halts Work on E.V. Battery Plant in Michigan
▼ + stars: | 2023-09-25 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

Ford Motor, in the midst of tense contract negotiations with striking United Automobile Workers, said on Monday that it was suspending construction of a battery factory in Michigan because of concerns that the plant might not be able to make products at a competitive price. It was unclear whether the halt was related to negotiations with the union, or to other issues. Ford has come under attack from Republican lawmakers because it plans to manufacture batteries at the plant in Marshall, Mich., using technology licensed from CATL, a Chinese company that is the world’s largest maker of batteries for electric cars. At the same time, Ford has warned that increases in pay and benefits sought by the U.A.W. If unions got all that they were asking for, “we would have to cancel our E.V.

Persons: Ford, Jim Farley Organizations: Ford, United Automobile Workers Locations: Michigan, Marshall, Mich, CATL

☆ Going beyond Tesla: ETF bets solely on electric vehicle makers
▼ + stars: | 2023-09-23 | by ( Natalie Zhang | ) www.cnbc.com time to read: +1 min

Defiance ETFs runs the Solactive Pure U.S. Electric Vehicle ETF — which is also known as the Pure EV Index fund. Tesla is the top holding for many electric vehicles ETFs after gaining more than 98% so far this year. Other EV ETFs including Global X autonomous & electric vehicles ETF and KraneShares Electric Vehicles & Future Mobility ETF have holdings in companies that produce EV components or are tech-related. However, the Pure EV Index fund is composed of only the five largest market-cap EV makers: Tesla , Nio , Rivian, Li Auto and Xpeng . The Pure EV Index fund's total net assets are currently $5.1 million.

Persons: It's, Sylvia Jablonski, CNBC's, Tesla, Li Auto, Jablonski Organizations: Electric, ETF, Apple, Microsoft, Nvidia, Global, KraneShares Electric Vehicles, Future Mobility

Here, workers in black uniforms churn out a brand-new electric scooter every 90 seconds, while executives review the company’s skyrocketing sales. Mehta is the 33-year-old CEO of Ather Energy, an electric scooter manufacturer that has enjoyed a recent explosion of demand. “That’s an incredible jump.”The push has been fueled by strong state support, particularly through a policy known as “FAME,” or the Faster Adoption and Manufacturing of Electric Vehicles. Electric two-wheelers on display at the Hero Electric Vehicles headquarters in Gurgaon, India, in 2021. BluSmart is an Indian ride-hailing startup that uses an all-electric fleet, relying heavily on charging infrastructure.

Persons: Tarun Mehta, Mehta, ” Mehta, pedaling, MotoCorp, ”, Brajesh Chhibber, “, Bain, That’s, Anindito Mukherjee, Anmol Singh Jaggi, Fadnavis, Chhibber, ” Chhibber, Jaggi Organizations: India CNN —, Ather Energy, “, CNN, McKinsey, Manufacturing of Electric Vehicles, EV, Economic, Ministry of Heavy Industries, Hero Electric Vehicles, Bloomberg, Getty, ” Locations: Hosur, India, Indian, Bangalore, New Delhi, Delhi, Gurgaon, Gurugram

[1/2] Manufacturing equipment is seen during a tour of Foxconn's electric vehicle production facility in Lordstown, Ohio, U.S. November 30, 2022. The Domestic Manufacturing Conversion Grants for EVs program will provide cost-shared grants for making efficient hybrid, plug-in electric hybrid, fully electric, and fuel cell vehicles. The Department of Energy's Vehicle Technologies Office said the program will prioritize projects that refurbish or retool manufacturing plants that have recently stopped operations or were expected to close soon. The Biden administration, as part of its goal of decarbonizing the economy by 2050, is pushing the U.S. auto industry to accelerate a transition to EVs. The Alliance for Automotive Innovation, which represents General Motors (GM.N), Stellantis NV (STLAM.MI), Toyota Motor (7203.T) and others, on Wednesday called the EPA proposal a "de facto battery electric vehicle mandate" that was "neither reasonable nor achievable."

Persons: Quinn Glabicki, Joe Biden's, Biden, Shawn Fain, Stellantis, Timothy Gardner, Joe White, David Shepardson, David Gregorio, Grant McCool Organizations: REUTERS, WASHINGTON, United Auto Workers, UAW, Energy's Vehicle Technologies, Lordstown, Environmental Protection Agency, Alliance, Automotive Innovation, General Motors, Stellantis, Toyota, Energy Department, Thomson Locations: Lordstown , Ohio, U.S, DETROIT, Ohio, Michigan , Ohio , Illinois, Indiana, Belvidere , Illinois, Washington, Detroit

☆ The market is still overbought, and Cramer is 'still in sell mode.' But that could change
▼ + stars: | 2023-06-20 | by ( Christopher Alessi | In | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 'Still in sell mode' Stay bullish on Nvidia Watch Ford 1. 'Still in sell mode' Stocks started the holiday-shortened trading week under pressure Tuesday, even as technology companies continued to outperform. "I'm still in sell mode," he said. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Stocks, it's, I'm, Jerome Powell, Jim, NVDA, Ford Jim, Jim Farley, Farley, Jim Cramer's Organizations: CNBC, Nvidia Watch Ford, Nasdaq, Federal Reserve, Capitol, Nvidia Evercore ISI, Nvidia, Club, Ford Locations: Dearborn , Michigan

☆ The IRA isn’t good for just U.S. stocks. Here are some emerging markets names that will benefit too
▼ + stars: | 2023-04-23 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

The Inflation Reduction Act does more than buoy U.S. clean energy stocks – it's also an opportunity for emerging markets firms. But the IRA also represents an opportunity for emerging markets firms. "This is a win, win, win," said Paul Desoisa, co-portfolio manager of the Global Emerging Markets strategy at Martin Currie, a specialist investment manager at Franklin Templeton. Here are some places where emerging markets firms stand to benefit. Some possible contenders include Korea's Hanwha Solutions, a multinational with a solar energy business Hanwha Qcells, abrdn's Khwaja said.

☆ Column: Middle East starts cleaning up its power act with renewable push
▼ + stars: | 2023-04-05 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

Middle East renewables capacity jumped by 12.8% in 2022 from the year before, the biggest gain in percentage terms of any region last year, according to the International Renewable Energy Agency (IRENA). The region's largest renewables producers - Iran, Israel, United Arab Emirates and Jordan - all lifted green capacity to new highs in 2022. Middle East renewable energy supply capacity increased by 12.8% in 2022 from the year beforeIn addition, Qatar, Oman and Lebanon all connected more renewable capacity in 2022 than was installed over the previous decade in those countries, IRENA data shows. In combination, these factors have fostered rapidly growing support for renewable energy development throughout the Middle East, and expectations for further accelerations in renewable capacity development in the years ahead. Asia, Middle East & Africa are the only regions that increased power sector fossil fuel emissions since 2015Asia, Africa and the Middle East are also the only regions to steadily increase power sector emissions since 2015, while Europe, North America, Latin America and Oceania have all pushed power emissions lower.

☆ Vietnamese EV maker VinFast says job cuts won't derail plans to start U.S. production
▼ + stars: | 2023-02-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

"We still plan to start the trial production in 2024 as originally planned," Le said. The annual production capacity of the plant is 150,000 electric vehicles, according to the company's release. The next markets VinFast plans to target will be in Europe, namely Germany, France and the Netherlands, said the CEO. However, VinFast vehicles do not currently qualify for the $7,500 tax credit in the U.S. because they are not built in the country, but are built in Vietnam. "I believe that in the long run [we are] going to concentrate the manufacturing of electric vehicles as well as the key components of electric vehicles in the U.S.," Le added.

☆ Indian EV maker denies allegations of misappropriation of incentives
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

The Indian government is reimbursing electric vehicle and hybrid vehicle manufacturers for reducing the purchase price of their vehicles under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) programme. Complaints were made against 12 electric vehicle and parts manufacturers, including Avon Cycles, for violating guidelines under the 100 billion rupees ($1.21 billion) programme, Minister for Heavy Industries Mahendra Nath Pandey told parliament on Tuesday. "We do have two number three wheeler models which qualify under FAME – phase 2 scheme which fully meet the eligibility criteria set by the concerned authorities. Also, the sales volumes of these three wheeler models sold under the stated scheme, so far, have been insignificant." ($1 = 82.8300 Indian rupees)Reporting by Sakshi Dayal; Editing by Sudipto Ganguly and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

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