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☆ Japan's TDK Corp to manufacture iPhone battery cells in India - minister
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

A man takes a video inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Dec 4 (Reuters) - Japanese electronic parts maker TDK Corp (6762.T) will manufacture lithium ion (li-ion) battery cells for Apple (AAPL.O) iPhones in India, a minister said on Monday. loadingApple has been touting India as its next big growth driver as it looks to move some production away from China. Cells manufactured at the facility will be supplied to Apple's li-ion battery assembler Sunwoda Electronics, the report added. Apple and TDK Corp did not immediately reply to Reuters' request for comment.

Persons: Francis Mascarenhas, TDK, Information Technology Rajeev Chandrasekhar, Manvi, Varun Organizations: Apple, REUTERS, Rights, TDK Corp, Information Technology, Twitter, Business, Reuters, Thomson Locations: Mumbai, India, iPhones, China, Wistron, Haryana, Manvi Pant, Bengaluru

☆ China's Sunwoda plans $274.7 mln Hungarian battery plant
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 27 (Reuters) - China's Sunwoda Electronic (300207.SZ) plans to build a power battery factory in Hungary for electric vehicles, with initial investment of up to 1.96 billion yuan ($274.71 million), as Chinese battery makers expand in the European market. Sunwoda, a smaller player among Chinese battery makers, counts Xpeng (9868.HK), Mercedes (MBGn.DE) and Guangzhou Automobile Group (601238.SS) among its biggest clients. Its move comes as Chinese battery suppliers shake up Europe's e-mobility supply chains by setting themselves up on the continent. Chinese market leader Contemporary Amperex Technology (CATL) (300750.SZ) is building a 7.3 billion euro ($8.13 billion) battery plant, also in Hungary, following its first European production site in Germany. ($1 = 7.1380 Chinese yuan renminbi)($1 = 0.8977 euros)Reporting by Ethan Wang, Zhang Yan and Ryan Woo; Editing by Christian Schmollinger and Emma RumneyOur Standards: The Thomson Reuters Trust Principles.

Persons: Sunwoda, Ethan Wang, Zhang Yan, Ryan Woo, Christian Schmollinger, Emma Rumney Organizations: Shenzhen Stock Exchange, HK, Mercedes, Guangzhou Automobile Group, Amperex Technology, EVE Energy, Energy, Thomson Locations: BEIJING, Hungary, Germany, Thailand

☆ Morgan Stanley says this battery stock is worth buying and can rally more than 70%
▼ + stars: | 2023-06-29 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Freyr could see monster gains over the next 12 months after a slow start to 2023, according to Morgan Stanley. Analyst Adam Jonas upgraded the battery stock to overweight from equal weight. "We see next 3-6 months as a catalyst window for unlocking shareholder value," Jonas said in a Wednesday note. "In our opinion, FREY is a relatively binary investment opportunity that we believe can show meaningful progress on commercial milestones." Freyr will start reporting key production metrics including uptime to show its operating capabilities.

Persons: Freyr, Morgan Stanley, Adam Jonas, Jonas, FREY, FREYR, — CNBC's Michael Bloom Organizations: Sunwoda Mobility Energy Locations: Wednesday's, Norway

The London Stock Exchange Group (LSEG) (LSEG.L) and UK trade officials visited several cities in China to promote UK capital markets recently. Wilson Xu, a banking veteran from CITIC Securities pioneering the Stock Connect programme, said liquidity will improve when there is a critical mass of Chinese listings. The Shanghai-London Stock Connect was launched in 2019 and the link was expanded last year to include Shenzhen and Switzerland. Even arrangements by SIX to allow roughly 2.5 hours of trading in a session for Chinese GDRs didn't help. Chinese companies, however, have been positive in public disclosures about their forays in Europe which have given them an alternative channel to raise funds and access foreign currency for their operations abroad.

Concerns that Chinese investors are buying overseas to make a quick profit at home are valid. Since last year, 11 Chinese companies have raised a combined $3.6 billion by selling GDRs on the Six Swiss Exchange, data from Dealogic show. Savvy punters with access to foreign funds can therefore make a quick and relatively risk-free profit by shorting the Chinese stock and buying the discounted GDRs. This helps explain why Swiss shares of Chinese companies barely trade. Since the launch of a China-Swiss stock scheme in 2022, 11 Chinese companies have raised a combined $3.6 billion, according to data from Dealogic.

☆ 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.

More than a dozen Chinese companies have unveiled plans to follow suit, according to exchange filings. The China-Switzerland Connect allows Chinese companies to raise capital by issuing and listing GDRs on Swiss bourse SIX. Swiss firms can issue Chinese Depository Receipts on the Chinese exchanges. She said UBS is also discussing with Chinese firms about listing in Frankfurt once rules are in place, so "our GDR mandates will keep coming". Despite the brighter prospects, deal sizes have been comparatively small, with Gotion's $685 million Swiss listing the biggest so far under the Swiss connect scheme.

☆ China's Xpeng says CATL is no longer its largest battery supplier
▼ + stars: | 2022-09-21 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File PhotoSHANGHAI, Sept 21 (Reuters) - Xpeng (9868.HK) has diversified its battery suppliers and no longer counts industry giant CATL (300750.SZ) as its primary supplier, the Chinese electric car maker's president said on Wednesday. "We have already diversified our battery supplier arrangement. CATL is no longer our largest material supplier. We actually have worked with several high-quality battery suppliers, for example, EVE, CALB," Gu said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Zhang Yan and Brenda Goh; Editing by Lisa ShumakereOur Standards: The Thomson Reuters Trust Principles.

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