DIRS.INFO The most relevant business & tech news

☆ Analysis: CATL's 'price war' shows its power, and China's EV edge
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +6 min

"It's very much a market share game," said Caspar Rawles, chief data officer at Benchmark Mineral Intelligence. Contemporary Amperex Technology Co Ltd - more widely known by its initials - is the dominant global supplier with a 37% share of the EV market. For CATL, the discount is a way to head off a bid by Chinese EV makers to seek alternatives. CATL batteries power Volkswagen's (VOWG_p.DE) I.D. "The reductions that CATL is offering would help the Chinese EV industry," said James Frith, a principal at battery-tech focused venture capital group Volta Energy Technologies.

1 EV maker worldwide in 2022, but China's BYD (002594.SZ) and others are closing the gap fast, according to a Reuters analysis of global and regional EV sales data provided by EV-volumes.com. In fact, BYD passed Tesla in EV sales last year in the Asia-Pacific region, while the Volkswagen Group (VOWG_p.DE) has been the EV leader in Europe since 2020. Reuters GraphicsThe most significant challenges to Tesla are coming from established automakers and a group of Chinese EV manufacturers. Tesla's vehicles offered features, such as the ability to navigate into a parking space or make rude sounds, that other vehicles lacked. IDRA, the Italian company that builds huge presses to form large one-piece castings that are the building blocks of Tesla vehicles, said it is now getting orders from other automakers.

The government is aiming to reach 2 million sales of electric motorbike in 2025 as the Indonesia attracts billion of dollars of investment in processing its rich nickel reserves into battery materials. Indonesia sold less than 40,000 electric motorbikes between 2019 and 2022, while its total motorbike sales in 2022 alone were 5.22 million units, industry data showed. Now their (annual) electric motorbike sales have reached more than 30 million," he said. Indonesia's government is targeting as much as 300,000 units of electric motorbike sales for 2023. The plant would have 10 Gigawatt hour capacity which would be enough to power 200,000 electric cars or up to 2.5 million electric scooters.

☆ Exclusive: EV maker Nio plans new 40 GWh battery plant in China- sources
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nio's ES7 electric vehicle is displayed at the Chinese EV maker's showroom in Shanghai, China, February 3, 2023. REUTERS/Aly SongSHANGHAI, Feb 24 (Reuters) - Nio (9866.HK) plans to build its first battery plant to produce big cylindrical cells similar to those used by Tesla, two people familiar with the matter said, as the Chinese EV maker seeks to cut its reliance on suppliers like CATL (300750.SZ). It will be located next to its main manufacturing hub in Hefei city, in eastern China's Anhui province, they said. Reuters is reporting the details of Nio's plan for the first time. Reporting by Zhang Yan, Zhuzhu Cui and Brenda Goh; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Buffett-backed BYD and more: Analysts name top 'climate stocks,' giving one 100% upside
▼ + stars: | 2023-02-22 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Energy storage and the future of transport are two of the "most attractive" climate themes to invest in right now, according to HSBC analysts. "While long-term valuations are still below average, consensus expect earnings to grow c40% higher than global climate stocks over the next 12M," said the bank's analysts in a Feb. 20 note. Stocks with the most upside HSBC named buy-rated stocks under both of these themes which have among the highest upside to the bank's price targets. In energy storage, electric vehicle battery maker CATL (55% upside), lithium producer SQM (40% upside) and lithium producer Livent (38% upside) made the list. "The global energy storage market continues to grow, despite higher energy storage costs in 2022.

☆ Lithium prices in China have tumbled 29% as slower EV demand hits 'white gold'
▼ + stars: | 2023-02-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The price of lithium, essential to EV batteries, has fallen by 29% from November highs in China. The metal is still worth eight times more than it was before 2021. Sigma Lithium sharply jumped Tuesday following a report that Tesla is thinking about buying the Canadian miner. While this spells an end to its two-year rally, the "white gold" of clean energy continues to be worth eight times more than it was two years ago. China's CATL, which is the world's largest battery producer, reportedly agreed to sell batteries to Chinese EV makers at lower rates.

☆ China's top diplomat urges end to hostilities ahead of Moscow visit
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

In a Facebook video during a meeting with Hungarian Foreign Minister Peter Szijjarto, Wang said the world was afflicted by disorder and wars. Despite being a member of both NATO and the European Union, Hungary has maintained closer ties to Moscow than other members of those groups. Orban, who has worked to build closer business ties with China, hosted Wang at a private dinner on Sunday, news agency MTI reported. Wang reaffirmed Beijing's commitment to closer economic ties, including via China's vast Belt and Road Initiative. ($1 = 0.9368 euro)Reporting by Gergely Szakacs and Alan Charlish; Editing by Andrew Cawthorne and Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

☆ China to scrutinize Ford's EV battery deal with CATL - Bloomberg News
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - China will scrutinize Ford Motor Co's (F.N) latest deal with battery giant CATL (300750.SZ) to ensure the Chinese company's core technology is not shared with the U.S. automaker, Bloomberg News reported on Thursday. Ford did not immediately respond to a Reuters request for a comment, while CATL could not be reached outside market hours. Senior Chinese leaders asked for the extra scrutiny given the sensitivity of the deal and the current state of tensions between Washington and Beijing, the report said. Ford on Monday announced plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan, with help from CATL's technology. Under the deal, CATL - short for Contemporary Amperex Technology Co Ltd - will license the technology and technical assistance needed for Ford to produce lithium iron phosphate batteries in Michigan.

☆ Ford deal shows U.S. EVs can’t unplug from China
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

It’s evident that President Joe Biden’s Inflation Reduction Act “did what it was intended to do”, according to one executive. Ford Motor (F.N) is licensing technology and services from China’s Contemporary Amperex Technology (300750.SZ), rather than buying batteries directly or forming a joint venture. This unusual setup allows the American auto veteran to use CATL’s lithium ferro-phosphate (LFP) chemistry whilst satisfying the IRA’s demands. As automakers start mass-producing electric vehicles, they will depend on Chinese suppliers, wherever they locate their factories. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ U.S. Senator Rubio seeks review of Ford technology deal with China's CATL
▼ + stars: | 2023-02-15 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Anna Rose Layden/Pool via REUTERSWASHINGTON, Feb 14 (Reuters) - Senator Marco Rubio on Tuesday asked the Biden administration to review Ford Motor's (F.N) deal to use technology from Chinese battery company CATL (300750.SZ) as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan. The $430 billion IRA imposes restrictions on battery sourcing and is designed to wean the United States off the Chinese supply chain for electric vehicles (EVs). Treasury declined to comment, but Granholm said on Twitter on Monday that "bringing advanced manufacturing capabilities from overseas to the United States is key to our competitiveness, will stimulate our economy, and create good-paying American jobs." Ford said the plant would create 2,500 jobs and begin producing lower cost and faster recharging lithium-iron-phosphate batteries in 2026. Republican House Majority Leader Steve Scalise tweeted criticism of the Ford deal, while Republican Virginia Governor Glenn Youngkin said last month that his state had withdrawn from the competition to attract the Ford plant over concern's about China's potential involvement.

☆ Ford Invests $3.5 Billion in Michigan Battery Plant With Chinese Partner’s Technology
▼ + stars: | 2023-02-13 | by ( Ryan Felton | Nora Eckert | ) www.wsj.com time to read: 1 min

Ford Motor Co. is investing $3.5 billion to build a battery plant in Michigan with help from China’s Contemporary Amperex Technology Co. Ltd., a win for the auto maker’s home state, which has seen many recent automotive projects head elsewhere. The facility, which will be built in Marshall, Mich., about 100 miles west of Detroit, is expected to create about 2,500 jobs, Ford said Monday. The auto maker said a wholly-owned subsidiary would manufacture the battery cells using technology and expertise provided by CATL, the world’s largest maker of batteries for electric vehicles.

☆ Ford to move forward with $3.5 billion EV battery plant with Chinese company
▼ + stars: | 2023-02-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

DETROIT – Ford Motor said Monday it will collaborate with a Chinese supplier on a new $3.5 billion battery plant for electric vehicles in Michigan, despite tensions between the U.S. and China. Glenn Youngkin saying he was withdrawing the state from a competitive process to attract the planned Ford plant over its connection to the Chinese company. The new batteries are expected to offer different benefits at a lower cost, assisting Ford in increasing EV production and profit margins. With this $3.5 billion investment, Ford says it and its battery partners have announced $17.6 billion in investments in electric vehicle and battery production in the United States since 2019. Gretchen Whitmer called the investment a "big win" for the state, which has moved to attract more battery production after missing out on previous multibillion investments.

☆ Watch CNBC's full interview with Ford CEO Jim Farley
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Ford CEO Jim FarleyJim Farley, CEO of Ford, joins 'Power Lunch' to discuss Ford's latest plant development, bringing down the cost of EV batteries and the company's decision to license battery technology from China's CATL.

☆ Chinese EV brand Zeekr is now worth more than Xpeng
▼ + stars: | 2023-02-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Pictured here is a Zeekr electric vehicle charging station in Dongguan, Guangdong province of China, on Nov. 14, 2022. BEIJING — Geely -backed electric car brand Zeekr said Monday it's now valued at $13 billion after a $750 million raise from Chinese battery giant CATL and others. Zeekr is not yet publicly listed, but Geely said in December the brand filed confidentially for an initial public offering in the U.S. The new $13 billion valuation makes Zeekr worth more on paper than Xpeng , which had a market value of $8.01 billion, according to Refinitiv Eikon data accessed Monday. Nio and Li Auto are worth much more, with market valuations of $17.22 billion and $25.22 billion, respectively, the data showed.

☆ Ford to invest $3.5 billion to build Michigan battery plant
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

Feb 13 (Reuters) - Ford Motor Co (F.N) will build a new lithium iron phosphate battery plant in Michigan as part of a $3.5 billion investment plan, the automaker and state said Monday. The plant will be located in Marshall, Michigan and eventually employ at least 2,500 workers. Reuters reported Friday Ford is expected to own and operate the plant with Chinese battery company China's Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) as a technology partner to help develop the batteries, sources said. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Ford announces $3.5 billion Michigan EV battery plant with Chinese partner CATL
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFord announces $3.5 billion Michigan EV battery plant with Chinese partner CATLCNBC's Phil LeBeau joins 'The Exchange' to report on Ford's announcement that it plans to move forward on a battery plant partnership with Chinese company CATL in Michigan.

☆ Ford announces new U.S. factory for batteries, licenses tech from China's CATL
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFord announces new U.S. factory for batteries, licenses tech from China's CATLJim Farley, CEO of Ford, joins 'Power Lunch' to discuss Ford's latest attempt to bring down the cost of EV batteries and the decision to license technology from China's CATL.

☆ Geely's EV brand Zeekr raises $750 million in fresh funding round
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Feb 13 (Reuters) - Zeekr, the electric car brand of China's Geely Automobile Holdings (0175.HK), is raising $750 million from five new and existing investors in a funding round that values the brand at $13 billion. Zeekr, which sells two purely electric car models, said in a statement on Monday that proceeds from the funding round will be used to support technology research and the global expansion of the Zeekr brand. The investors include Amnon Shashua, CEO and founder of autonomous driving technology company Mobileye Global (MBLY.O) - majority owned by Intel Corp (INTC.O) - and the Guangzhou city municipal government’s investment arm Yuexiu Industrial Fund, both new investors in the company. Supporters of the funding round also include Chinese battery maker CATL (300750.SZ), already among Zeekr's backers. Reporting by Zhang Yan and Brenda Goh; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese firms face embarrassment of listing riches
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Feb 10 (Reuters Breakingviews) - Global appetite for Chinese stocks is returning. Sensor-maker Hesai shares popped nearly 11% in what is the biggest initial public offering from the People’s Republic in New York since 2021. The country's sudden reopening has boosted economic activity, and regulators are prioritising growth over cracking down on private firms. Hedge funds have increased their exposure to Chinese equities back to 2020 levels, Goldman Sachs data shows. A steady stream of firms are mulling Hong Kong listings too.

☆ Ford to announce $3.5 bln battery plant in Michigan, sources say
▼ + stars: | 2023-02-10 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Feb 10 (Reuters) - Ford Motor Co (F.N) is set to announce as soon as Monday it plans to build a new $3.5 billion lithium iron phosphate battery plant in Michigan, sources told Reuters. Ford is expected to own and operate the plant with Chinese battery company China's Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) as a technology partner to help develop the batteries, sources said. The rules were aimed at weaning the United States off the Chinese battery supply chain. Virginia Governor Glenn Youngkin has faced some criticism for withdrawing from a competition to attract a new Ford battery plant over its connection to CATL. Reuters reported in January that Michigan was also a candidate for the Ford battery plant, sources said, and a decision could be made in the coming weeks.

☆ Investments in Indonesia's nickel industry
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +4 min

Here are some of the major investment deals involving nickel in Indonesia:Jan. 2020: Indonesia bans exports of unprocessed nickel to attract investment in downstream processing. Dec. 2020: Indonesia's investment ministry signs an MOU with LG Energy Solution (373220.KS) on integrated EV battery investment with total investment of $9.8 billion. 2021: Indonesia establishes the Indonesia Battery Corporation (IBC), a joint venture of state owned enterprises to cooperate with foreign investors in developing an EV battery supply chain. Jan. 2022: Indonesia's Investment Ministry signs an MoU with Foxconn (2317.TW), Gogoro Inc, IBC and Indika Energy (INDY.JK) for investment in electric vehicle and battery development. Sept 2022: Vale Indonesia signs an agreement with Zhejiang Huayou to build a second plant to produce nickel MHP with 60,000 tonnes capacity.

☆ This electric vehicle ETF soared 20% in January. Analysts give 2 of its stocks another 100% upside
▼ + stars: | 2023-02-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The Global X Lithium & Battery Tech ETF was up nearly 8% last week – its best week since March 2022, according to CNBC analysis. Lithium and EV battery producers, such as Albemarle and CATL , also did well, soaring 30% and 18% respectively. Rivian shares are seen rising by 100% over the next 12 months on average, while Tesla has 13% upside, and Lucid has 18% potential upside, according to analysts. Battery makers Freyr and Enovix Corporation stood out for having the biggest potential upside, at 108% and 285% respectively. Both are also popular among analysts, with Enovix the only company on the list to have a 100% buy rating from analysts.

LONDON/HONG KONG, Feb 1 (Reuters Breakingviews) - China has been a golden goose for western carmakers like Volkswagen (VOWG_p.DE) and BMW (BMWG.DE). Chinese groups like electric vehicle leader BYD (002594.SZ), (1211.HK) are targeting foreign markets. At JATO’s estimate of 56,000 euros, the average price of an electric vehicle in Europe is still too high for most punters. The lower cost of manufacturing in China may help Chinese carmakers absorb tariffs, while western groups could suffer from reprisals. The result may be that western groups have to jostle for a smaller place in their home markets but also cut prices, hurting profitability.

☆ As Tesla ignites an EV price war, suppliers brace for Musk seeking givebacks
▼ + stars: | 2023-02-01 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +5 min

"It is never good for suppliers when (automakers) cut vehicle prices because that pressure rolls downhill," said Dan Sharkey, an attorney who represents suppliers to Tesla and other automakers. Tesla's cost-reduction efforts come after it aggressively cut vehicle prices last month, prompting U.S. rival Ford Motor Co (F.N) to follow suit. More price cuts could be painful in a sector where some suppliers are already struggling, industry officials said. Tesla could negotiate cost reductions with suppliers through "shared" efficiencies or by simply twisting the suppliers' arms and taking some of their profit away, a former Tesla executive told Reuters. "They will get a lot of pushback from suppliers to cut costs," said industry consultant Laurie Harbour, who works with suppliers.

☆ Politics aside, China's CATL ramps up cell production in Germany
▼ + stars: | 2023-01-26 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

ARNSTADT, Germany, Jan 26 (Reuters) - Chinese battery giant CATL (300750.SZ) is putting down roots near the small central German town of Arnstadt, ploughing ahead with the ramp-up of battery cell production despite uncertainty over Germany's future relations with China. The Arnstadt plant delivered its first sample cells to customers in December and aims to have six production lines running this year. For now, the materials used are mostly imported from China, partly because CATL has long-term relationships with suppliers there. But some Chinese suppliers have set up shop in Europe near the Arnstadt plant, CATL's Europe president Matthias Zentgraf said in an interview. CATL will be the largest battery maker in Europe once its planned 100-GWh plant in Hungary reaches full capacity.

Search resuls for: "CATL"

25 mentions found