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☆ China's property market is failing. These are the 3 new growth areas Beijing is focusing on to pull itself out of a tailspin.
▼ + stars: | 2024-01-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's real-estate sector has been mired in a debt crisis for over two years with no signs of a strong recovery. Electric vehiclesThanks to government subsidies, China is already the world's largest market and producer of electric vehicles. Related storiesThe Chinese EV market is expected to continue growing 25% this year, although the growth is slower than the 36% the industry posted in 2023 as Beijing winds down its subsidies. In the last quarter of 2023, Chinese EV maker BYD overtook Tesla to become the world's largest seller of electric vehicles . Other Chinese EV brands with international expansion plans include Nio, Geely, and Zeekr.

Persons: Xi, Tesla, Ilaria, Bernstein, Wood Mackenzie Organizations: Service, Business, Eurasia Group, Center for Strategic, International Studies, South, Financial Times Locations: China, Beijing, Europe, Washington ,

☆ Will guilt-free long-haul flights ever be possible? Here’s what we know
▼ + stars: | 2023-12-04 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +13 min

Sustainable aviation fuel, or SAF, is a type of alternative jet fuel that can curb carbon emissions by up to 80%. The main reason for the slow adoption is that it’s still more expensive – between 1.5 to 6 times pricier than regular jet fuel. Boeing is not out of the race either, but doesn’t see a hydrogen long-haul plane as around the corner. On medium- and long-haul flights, we don’t see it as a direct source of propulsion until 2040. We would need to see magnitude-order changes [in batteries] for us to consider those for long-haul flights.

Persons: ”, Gary Crichlow, Gökçin Çınar, Ryan Faucett, Alexandre Doumenjou, Andreas Schäfer, Britten, “, Artemis, that’s, Boeing’s Faucett, “ You’re, Schäfer Organizations: CNN — Aviation, Boeing, “, Aviation Environment Federation, SAF, Airbus, University of Michigan, CNN, Virgin Atlantic, University College London, Cranfield Aerospace, Norman, Engineers, NASA, Critchlow Locations: London, Bangkok, New York, California, ZeroAvia

☆ 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

☆ Inside the WNBA's strategy to partner with companies like Deloitte and Google to propel the league — and how it'll leverage that growth in its next rights negotiations
▼ + stars: | 2023-12-04 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +7 min

She listened to her players and what they wanted from the league, including a higher salary cap, but knew she couldn't meet all of their needs. One partner, Deloitte, overhauled the WNBA's app, for example. The current rights deal for the WNBA, which is coming off its largest regular-season viewership in more than two decades, runs through 2025. The mid-season Commissioner's Cup is sponsored by league partner Coinbase. The streaming app WNBA League Pass also brought in viewership, as did deals with Meta and YouTube.

Persons: Cathy Engelbert's, Engelbert, It's, Coinbase, Ethan Miller, Engelbert's, Disney, Nielsen, Ion Organizations: WNBA, Business, Deloitte, Nike, Google, US Bank, Companies, NBA, YouTube, Disney, Team, Seattle Storm's, ESPN, ABC, Scripps Ion, CBS, Meta, Scripps Locations: Las Vegas

MP Materials (MP.N), Lynas Rare Earths (LYC.AX) and other Western rare earths companies have struggled at times to deploy it due to technical complexities and pollution concerns. "The existing rare earths refining process is a nightmare," said Isabel Barton, a mining and geological engineering professor at the University of Arizona. Fannon and several U.S. politicians have called for Western governments to create central rare earths processing hubs, a plan already being pursued by Canada. In Saskatchewan, government scientists are working to launch their own rare earths processing technology after attempts to buy Chinese technology sputtered in 2020. "These new sources for rare earths are going to be paramount if we're going to reach global net zero targets," said Steve Schoffstall of the Sprott Energy Transition Materials ETF (SETM.O), which holds shares in several rare earths companies.

Persons: Isabel Barton, Michael Schrider, Ucore, Luisa Moreno, REETec, Robert Fox, Frank Fannon, Mike Crabtree, Crabtree, Steve Schoffstall, Ernest Scheyder, Veronica Brown, Claudia Parsons Organizations: International Energy Agency, University of Arizona, U.S . Air Force, Pentagon, Defense Metals, U.S . Department of Energy's, U.S . Department of Energy's Idaho National Laboratory, Saskatchewan Research Council, SRC, Ucore, Reuters, Thomson Locations: ALEXANDRIA, Louisiana, China, United States, U.S, American, Alaska, of New Orleans, British Columbia, South Africa, Florida, Norway, Massachusetts, U.S . Department of Energy's Idaho, Wyoming, Canada, Saskatchewan

☆ US DFC considers $500 mln loan to Vietnamese EV maker VinFast
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

A Vinfast electric vehicle store is shown at one of the company's retail locations in San Diego, California, U.S.,October 20, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Dec 4 (Reuters) - The United States International Development Finance Corporation (DFC) has signed a letter of interest with electric vehicles maker VinFast to consider the Vietnamese company's application for a $500 million loan for expansion, VinFast said on Monday. The loan, which will be used to support VinFast's establishment of lithium-ion battery manufacturing facilities in Vietnam, is subject to a comprehensive review and approval process by DFC, the carmaker said in a statement. DFC said on X, formerly Twitter, that it had signed the letter of interest to support VinFast's lithium-ion battery facilities in Vietnam, but did not provide details. The project will be the first in a series of initiatives actively discussed by the two parties, VinFast said.

Persons: Mike Blake, VinFast, Phuong Nguyen, Kanupriya Kapoor Organizations: REUTERS, Rights, United States International Development Finance Corporation, Vietnam's, Nasdaq, Thomson Locations: San Diego , California, U.S, Rights HANOI, Vietnam, California, Southeast Asia

The world also said goodbye to former U.S. Secretary of State Henry Kissinger, who died Nov. 29. Political Cartoons View All 1277 ImagesAnother political figure who died this year was former U.S. first lady Rosalynn Carter, who died Nov. 19. Among the entertainers who left the world this year was singer Tina Turner, who died May 24. Here is a roll call of some influential figures who died in 2023 (cause of death cited for younger people, if available):___JANUARY___Fred White, 67. A Hall of Fame forward who helped the Chicago Blackhawks win the 1961 Stanley Cup Final.

Persons: Wagner, Yevgeny Prigozhin, Prigozhin, Vladimir Putin’s, Henry Kissinger, Rosalynn Carter, Jimmy Carter, Silvio Berlusconi, Dianne Feinstein, James Buckley, James Abourezk, Nigel Lawson, Pervez Musharraf, Sandra Day O’Connor, Li Keqiang, Martti Ahtisaari, United Nations Bill Richardson, Gov, Sheila Oliver, Theodoros Pangalos, Tina Turner, Ike Turner, Suzanne Somers, Matthew Perry, Raquel Welch, Richard Belzer, Chaim Topol, Jacklyn Zeman, Lance Reddick, Alan Arkin, Paul Reubens, David McCallum, Richard Roundtree, Tom Sizemore, Jimmy Buffett, Sinéad O’Connor, Rita Lee Jones, Burt Bacharach, David Crosby, Fito Olivares, Ryuichi Sakamoto, Astrud Gilberto, Coco Lee, Tony Bennett, Harry Belafonte, Cormac McCarthy, William Friedkin, Bob Barker, Jerry Springer, Louise Glück, Jeff Beck, Mary Quant, Kaija Saariaho, Lloyd Morrisett, Fred White, Maurice, Verdine White, Ken Block, Walter Cunningham, Fay Weldon, ” Jan, Russell Pearce, Charles Simic, Lynette “ Diamond ” Hardaway, Donald Trump, Diamond, Constantine, Jan, Tatjana Patitz, George Michael’s, Lisa Marie Presley, Elvis Presley, Robbie Knievel, Evel Knievel, Ray Cordeiro, Elmo, Cookie, Gina Lollobrigida, Chris Ford, Crosby, Stills, Nash, Young, Cindy Williams, Shirley, “ Laverne, Billy Packer, Sylvia Syms, Alex ”, Barrett Strong, Norman Whitfield, “ Papa, Rollin ’ Stone, Tom Verlaine, Patti Smith, Bobby Hull, Paco Rabanne, Harry Whittington, Dick Cheney, Hsing Yun, ”, San Jose ”, Carlos Saura, Spain’s, Hugh Hudson, Oscar, “ Greystroke, Hans Modrow, David Jude Jolicoeur, Huey “, ” Smith, Little Richard, Lloyd Price, “, Leiji Matsumoto, Yamato ”, Tim McCarver, Stella Stevens, Jerry Lewis’s, John Munch, Ahmed Qureia, Betty Boothroyd, Ricou Browning, Gill, Gérard Latortue, Fontaine, Barbara Everitt Bryant, Ryan ”, Kenzaburo Oe, Judy Heumann, Gary Rossington, Lynyrd Skynyrd, Georgina Beyer, Traute Lafrenz, Rose, Peterson Zah, Tevye, Robert Blake, Jiang Yanyong, Bud Grant, Dick Fosbury, Pat Schroeder, Gloria Bosman, Jacqueline Gold, Britain’s Ann Summers, John Wick ”, John Jenrette, Juana La, Willis Reed, Darcelle, Paul O’Grady, Lily Savage, Emperor ”, Hedda Kleinfeld Schachter, Margaret Thatcher, Ben Ferencz, Nuremberg, Elisabeth Kopp, Michael Lerner, Jack Lipnick, “ Barton Fink, Bugsy Calhoun, Anne Perry, Thomas Pitt, William Monk, Al Jaffee, magazine’s, Charles Stanley, Richard Riordan, Todd Haimes, Tony Awards, Barry Humphries, Tony, Dame Edna Everage, Len Goodman, Carolyn Bryant Donham, Emmett Till, LeRoy “ Lee ” Carhart, Larry “, ___ Gordon Lightfoot, Tori Bowie, Vida, Grace Bumbry, Rock ”, Ovelha, Denny Crum, Heather Armstrong, Bobbie Spencer, Rolf Harris, Kenneth Anger, Doyle Brunson, Jim Brown, Timothy Keller, Andy Rourke, Ray Stevenson, Thor ”, Ed Ames, George Maharis, Carroll Cooley, Miranda, John Beasley, Kaija, George Winston, Ipanema ”, Robert Hanssen, Richard Snyder, Simon & Schuster, Françoise Gilot, Pablo Picasso —, Pat Robertson, Theodore “ Ted ” Kaczynski, Roger Payne, Treat Williams, Glenda Jackson, Daniel Ellsberg, Richard Nixon, Big, George Frazier, Lee Sarokin, Rubin “, ” Carter, Winnie Ewing, Sheldon Harnick, Jerry Bock, “ Fiorello, John Goodenough, Peg Yorkin, Sue Johanson, Yan Mingfu, John Berylson, James Lewis, poisonings, Mikala Jones, André Watts, Jane Birkin, Kevin Mitnick, San Francisco ”, Frank Sinatra, Lady Gaga, Hugh “ Sonny ” Carter Jr, Jimmy, Randy Meisner, Herman, Angus Cloud, Fezco, ” O’Neill, ___, Mark Margolis, Hector Salamanca, Saul, Sixto Rodriguez, flamed, Robbie Robertson, Tom Jones, Magoo, Timbaland, Aaliyah, Missy Elliott, Clarence Avant, Quincy Jones, Bill Withers, Ada Deer, Jerry Moss, Herb Alpert, Alpert, Michael Parkinson, Muhammad Ali, Miss Piggy, Jiri Cerny, Betty Tyson, Richard Nixon’s, John Warnock, Ron Cephas Jones, Howard Hubbard, Samuel “ Joe ” Wurzelbacher, Joe, Barack Obama, Gil Brandt, Tom Landry, Tex Schramm, Bill Richardson, Steve Harwell, Shabtai Shavit, Jordan, Ian Wilmut, Dolly, Prince Mangosuthu Buthelezi, Roy Kidd, Eno Ichikawa, Michael McGrath, Fernando Botero, Giorgio Napolitano, Matteo Messina Denaro, Michael Gambon, Albus Dumbledore, Harry Potter ”, Mankombu Sambasivan, Saad Eddin Ibrahim, Hosni Mubarak, Tim Wakefield, Dick Butkus, Michael Chiarello, Michael Chiarello ”, Masters, Burt Young, Paulie, Sylvester Stallone, Hughes Van Ellis, Kevin Phillips, Louise Meriwether, Mark Goddard, Major Don West, Rudolph Isley, Isley, unblinking, Piper Laurie, Chrissy Snow, Bobby Charlton, Bishan Bedi, Richard Moll, Xi Jinping, Wu Zunyou, Chandler Bing, Ken Mattingly, Bob Knight, Frank Borman, Steve Norton, Don Walsh, Mariana Trench, Terry R, Taylor, Daisaku Ikeda, Herbie Hancock, Bobby Ussery, George “ Funky ” Brown, Joanna ”, Marty Krofft, Pufnstuf, Donny, Marie ”, Terry Venables, Tim Dorsey, Serge A, Frances Sternhagen, ” “, Charlie Munger, Warren Buffett, Berkshire Hathaway, Gerald Ford, Shane MacGowan, Bernard McGhee Organizations: Wagner Group, Russian, White House, U.S, Supreme, United Nations, Greek Foreign, Republican, Hong, Boston Celtics, NBA, NBC, CBS, Television, Fame, Chicago Blackhawks, ”, New, of Fame, Louis Cardinals, “, Palestinian, Israel, South Dakota Democrat, Arab, Arab American U.S, Britain’s, Commons, . Census Bureau, Alabama ”, Zealand, Navajo, Minnesota Vikings, People, Playboy, Capitol, Juana La Cubana, New York Knicks, Guinness, World Records, Hollywood, Treasury, Southern Baptist Convention, Los Angeles, Roundabout Theatre Company, Air Force, Harlem Globetrotters, Janeiro Games, baseball’s, Germany’s Bayreuth, NCAA, Hall of Famer, Redeemer Presbyterian Church, Legion, Ames, Phoenix, FBI, Simon &, Christian Broadcasting Network, Republican Party, Christian Coalition, Harvard, Feminist Majority Foundation, “ Little, Communist Party, Millwall, New York Philharmonic, San, Brigade, Wing, Eagles, HBO, of Indian Affairs, M, Police, Carpenters, Adobe Systems, Pro Football Hall of Fame, Dallas Cowboys, escapist, Democratic, Zulu, Eastern, AA, Broadway, Communist, U.S . Senate, Red Sox, Yankees, Boston, Chicago Bears, Major, Isley Brothers, New York Times, Manchester United, India, Indiana, Nevada — Resorts, Atlantic City —, Navy, Associated Press, Soka Gakkai, Kentucky Derby, Kool, The, European, Barcelona, Tottenham, City Locations: Russia, Ukraine, Bakhmut, Russian, U.S, Finnish, New Mexico, New Jersey, British, Greece, American, Hong Kong, Italian, America, New York, Spanish, catwalks, Texas, Taiwan, Pakistan, Afghanistan, San, New Orleans, Rosebud, Arab American, Haiti, “, African, Brooklyn, London, Los, Mississippi, United States, Rivers, Georgia, Savannah, Louisville, New York City, Irish, HBO’s “ Rome, Brazilian, Ipanema, Moscow, Virginia, Montana, Vietnam, Canada, Asia, Chicago, Hawaii, France, South Africa, Wisconsin, Los Angeles, Czech, Eastern Kentucky, Colombian, ”, California, Tulsa, Finland, China, Nevada, Atlantic City, Florida, Berkshire

☆ 'Ruthless' landlords who crammed 22 men into a 2-bedroom apartment raking in more than $10,000 a month plead guilty after fire death
▼ + stars: | 2023-12-02 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

The landlords of a London flat that suffered a fire have pleaded guilty to criminal charges. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe landlords of an overcrowded London apartment that suffered a fire have pleaded guilty to criminal charges. In the overcrowded apartment, students, asylum seekers, and other vulnerable people were sleeping in bunk beds and on the floor, without heating or use of the washing machine, and sharing a single toilet. AdvertisementAnthony Iles, chair of the Tarling West Tenants and Residents Association, told the Guardian, that the couple were "ruthless landlords."

Persons: Mizanur Rahman, —, Sofina Begum, Aminur Rahman, Begum, Rahman, Anthony Iles, Brent Council, Jaydipkumar Rameshchandra Valand Organizations: Service, Guardian, Residents Association Locations: London, Bangladesh, Wembley

It’s still not clear which vehicles would be eligible for the full $7,500 tax credit under the new rules because the government has yet to publish any lists. But they are still years away from being able to produce an electric vehicle without materials and components from China. Sam Abuelsamid, a mobility analyst for Guidehouse Insights, expects many EVs now eligible for the full $7,500 U.S. tax credit will see that cut in half next year when the new regulations take effect. Getting the tax credit upfront — rather than waiting until filing tax returns next year — “will actually reduce your monthly payment, which is a major stumbling block for consumers,” he said. Adeyemo and other officials declined to say whether batteries from the Ford plant would qualify for tax credits.

Persons: —, Biden, Joe Biden's, It’s, Wally Adeyemo, David Turk, Adeyemo, Turk, John Bozzella, Sam Abuelsamid, EVs, Abuelsamid, — “, ”, Joe Manchin, Manchin, Janet Yellen, Ford, Tom Krisher Organizations: WASHINGTON, Treasury, Energy, EV, Administration, “, Motors, Hyundai, Ford, GM, Alliance for Automotive Innovation, Guidehouse, Democratic, Natural Resources Committee, Ford Motor Co, Amperex Technology, Associated Press Locations: U.S, China, United States, North Korea, Russia, Iran, North America, Michigan, Detroit

REUTERS/Rebecca Cook/File Photo/File Photo Acquire Licensing RightsWASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. The FEOC rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them. Treasury said the few materials being exempted each account for less than 2% of the value of battery critical minerals. The rules are expected to further reduce the number of electric vehicles eligible for EV tax credits. Earlier this year, new battery and mineral sourcing requirements took effect with price and buyer income eligibility caps from Jan. 1.

Persons: Rebecca Cook, Biden, Joe Manchin, Manchin, David Shepardson, David Lawder, Chizu Organizations: Motors, Bolt, Orion Assembly, REUTERS, Rights, U.S, Treasury, Alliance, Automotive Innovation, Ford Motor, The Energy Department, Companies, Energy, Thomson Locations: Lake Orion , Michigan, U.S, China, Michigan, North Korea, Russia, Iran, North America, Washington

☆ ‘Teslas of the seas’ will take students to school in Sweden
▼ + stars: | 2023-11-30 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +6 min

The X Shore Pro, which is meant for commercial operations or coast guards, is based on the former and shares most of its specifications. The X Shore 1 costs upwards of €109,000 (about $119,000), but the more expensive models in the lineup start at €195,000 (about $213,000). According to Keisu, the experience of riding an X Shore boat is radically different to a traditional one. “The only difference is that we [X Shore] use our batteries also for propulsion, so we have much larger battery packs,” she says. However, technological constraints may be slowing down the electrification of boats, including small leisure boats such as those manufactured by X Shore.

Persons: that’s, Tesla, ”, Maria Niläng, we’re, X Shore, Jenny Keisu, X, Keisu, Timothy McCoy, McCoy, ” Brandon Taravella, “, ” Keisu Organizations: CNN, X Shore, Värmdö Archipelago, University of Michigan, University of New, UNESCO Locations: Stockholm, Sweden, Swedish, Värmdö, X, University of New Orleans, Norway

☆ Google DeepMind AI reveals potential for thousands of new materials
▼ + stars: | 2023-11-29 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 29 (Reuters) - Google DeepMind has used artificial intelligence (AI) to predict the structure of more than 2 million new materials, a breakthrough it said could soon be used to improve real-world technologies. The discovery and synthesis of new materials can be a costly and time-consuming process. DeepMind’s AI was trained on data from the Materials Project, an international research group founded at the Lawrence Berkeley National Laboratory in 2011, made up of existing research of around 50,000 already-known materials. Having used AI to predict the stability of these new materials, DeepMind said it would now turn its focus to predicting how easily they can be synthesised in the lab.

Persons: Dado Ruvic, “ We're, ”, Ekin Dogus, Kristin Persson, DeepMind, Martin Coulter, Jan Harvey Organizations: REUTERS, Google, Materials, Lawrence Berkeley National Laboratory, Thomson

☆ Steve: The aurora-like light show you can help research
▼ + stars: | 2023-11-28 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

The purple-pink streak of light indicative of Steve is shown in this image captured by Canadian photographer Neil Zeller. “It can eventually migrate south … toward the equator side of aurora and form a Steve,” Lach said. A Steve will always appear alongside an aurora, Lach and Zeller said, but not all auroras include a Steve. The Steve phenomenon is most likely to be captured around the equinoxes in the spring and fall, according to Zeller and Lach. The photos contributed by members of the public constantly help scientists improve their understanding of these light shows, she said.

Persons: CNN —, It’s, Steve, Elizabeth MacDonald, MacDonald, “, ” MacDonald, Neil Zeller, ” Zeller, … we’d, I’d, Dr, Eric Donovan, Zeller, Donovan, Chris Ratzlaff, ” Ratzlaff, Steve —, —, Donna Lach, Lach, ” Lach, Steve Earth, “ It’s, Steve I’ve, ” Organizations: CNN, Northern Hemisphere, NASA’s Goddard Space Flight, Kilkenny, Facebook, NASA, University of Calgary, DreamWorks, SAR, “ Locations: United Kingdom, Calgary , Alberta, Alberta, Canadian, Canada’s Manitoba, Manitoba, Kp0, Wyoming, Utah, Turkey, Greece, Slovakia, China, Canada

☆ Solid state batteries promise to radically change EVs. But they may not be the only answer
▼ + stars: | 2023-11-23 | by ( Manav Tanneeru | Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Car companies including Stellantis, Hyundai and Volkswagen have also teamed up with firms working on solid state batteries. But solid state technology has its own challenges, and it’s not the only way automakers could achieve lighter, cheaper and faster charging electric vehicles. In a solid state battery, the electrolyte is, well, a solid. That solid electrolyte is one reason that solid state batteries might be safer than lithium-ion batteries. Ultimately, there probably will never be one battery technology used in all EVs, GM spokesperson Phil Lienert said.

Persons: it’s, William Kephart, Kephart, ”, Siyu Huang, Quantumscape, That’s what’s, Phil Lienert Organizations: CNN, Toyota, Stellantis, Hyundai, Volkswagen, P3, OneD, Sciences, GM

☆ 3 reasons why electric cars will soon get a lot cheaper
▼ + stars: | 2023-11-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Some automakers are slowing down EV production, saying electric vehicles are too expensive. Auto execs have pointed to high prices as a big reason why demand for electric cars has slumped this year. AdvertisementHere's three reasons why electric cars are getting more affordable. Cheaper battery packsBy far the most expensive part of any EV is the battery, and spiking battery prices have hit automakers hard. "You have to get to a certain scale to really start to make money on electric cars and for the costs to go down," Valdez Streaty said.

Persons: —, Kelley, Tesla, Goldman Sachs, EVs, David Browne, Patrick T, Fallon, Browne, Matthias Preindl, Stephanie Valdez Streaty, it's, Valdez Streaty, Elon, you've Organizations: Service, Ford, General Motors, EV, Atlas Public, EVs, Bloomberg, Department of Energy, Smart, Toyota, Manufacturers, ICE, Columbia University, Smith, Cox, Chicago Tribune, Getty Locations: China, Germany, Los Angeles

☆ As the hype around 'solid-state' EV batteries grows, UBS reveals the global stocks to cash in
▼ + stars: | 2023-11-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

UBS has identified the stocks set to benefit from the growth of next-generation "solid-state" battery electric vehicles. Solid-state batteries are viewed as a potential breakthrough technology because they can store more energy than lithium-ion batteries and charge faster. Toyota's targets for solid-state batteries are about double the capacity of the longest-range Tesla vehicles. The automaker's planned transition to solid-state batteries for its EVs by the late 2020s makes the company's stock an attractive investment, according to the investment bank. The table below shows some of the global stocks best positioned to capitalize on the shift to solid-state batteries, according to UBS: UBS named Toyota Industries , which has already partnered with Toyota Motor on developing lithium-ion batteries, as another stock that could benefit from the shift to solid-state batteries.

Persons: Kohei Takahashi, Morgan Stanley, — CNBC's Michael Bloom Organizations: UBS, Toyota, Nissan, Honda, Toyota Industries, Toyota Motor, Mitsui Mining & Smelting, Sumitomo Metal Mining

They said some battery operators are already supplying back-up power to grids at a price competitive with gas power plants, meaning gas will be used less. British independent Carlton Power dropped plans for an 800 million pound ($997 million) gas power plant in Manchester, northern England, in 2016. MODELS UNDER SCRUTINYDevelopers can no longer use financial modelling that assumes gas power plants are used constantly throughout their 20-year-plus lifetime, analysts said. Many countries world-wide, but especially in Europe, provide payments for standby power plants through capacity markets. In Europe, 40 million electric vehicles are expected by 2030, capable of displacing around one third of the region's gas power capacity, according to Kaluza.

Persons: Andrew Boyers, Carlton Power, Keith Clarke, Clarke, Carlton, Nigel Scott, Banks, Simon Virley, Helen Sanders, Sanders, Carlton's Clarke, Sarah McFarlane, Susanna Twidale, Simon Webb, Barbara Lewis Organizations: REUTERS, U.S, Global Energy Monitor, Power Ventures, Carlton, Carlton Power, Reuters, Sumitomo Mitsui Banking Corporation, Investors, Electricity, KPMG, Union, Octopus Energy, Thomson Locations: Finedon, Britain, Europe, United States, New Jersey, Manchester, England, London

☆ Honda’s new scooter is also the box it comes in
▼ + stars: | 2023-11-20 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —There are lots of electric scooters available today in a huge range of styles and prices. Honda’s original micro-bikeThe real inspiration was the Honda Motocompo, a tiny motorcycle Honda offered for a few years in the early 1980s. Peter Valdes-Dapena trying Honda's new electric scooter, the Honda Motocompacto. Its memory inspired someone in Honda’s California design studio –- someone Honda won’t name because he’s left the company –- to sketch out a modern version. Also giving you confidence will be the seriously sturdy latches locking the seat, handle bars and wheels in place before you start riding.

Persons: Honda, Peter Valdes, he’s Organizations: CNN, Honda Locations: United States, Honda’s California, footpegs

☆ Moldovan president's allies score well in local polls
▼ + stars: | 2023-11-19 | by ( Alexander Tanas | ) www.reuters.com time to read: +3 min

Sandu warned before the election that pro-Russian forces in the country, particularly fugitive business magnate Ilan Shor, had funnelled money into Moldova to "buy" voters. Shor's allies were barred from running two days before the first round and he complained from exile in Israel that the ruling had cost him electoral success. An independent won in Comrat, a town in the south where one of Shor's allies had won a regional vote earlier this year. Ion Ceban, running under a party he founded, was re-elected mayor of the capital Chisinau in the first round, though the president's supporters suggest he may hold pro-Russian sympathies. Reporting by Alexander Tanas; Editing by Ron Popeski and Will DunhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Maia Sandu, ZAK BENNETT, Maia Sandu's, Sandu, Ilan Shor, Shor's, Ion Ceban, Igor Grosu, Shor, Arina Korsicova, Alexander Tanas, Ron Popeski, Will Dunham Organizations: USAID, Democracy, Ford Foundation Center, Social Justice, 78th United Nations General, Rights, Sunday, European Union, Sandu's Party of Action, Solidarity, Socialist Party, PAS, Constitutional, The Organization, Security, Cooperation, Thomson Locations: New York City, U.S, Rights CHISINAU, Moldova, Russian, Ukraine, Romania, Israel, Moldova's, Balti, Russia, Comrat, Calaras, Chisinau, Europe

The logo of Sumitomo Metal Mining Co is pictured at the company's headquarters in Tokyo, Japan, September 13, 2018. REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsTOKYO, Nov 16 (Reuters) - Japan's Sumitomo Metal Mining (5713.T) is considering producing cathode battery materials in the United States among other options as it looks to expand output to meet demand from electric vehicles, an executive said on Thursday. Sumitomo Metal plans to bolster its annual output capacity to 120,000 tons by March 2028 and 180,000 tons by March 2031. The consortium consists of Sumitomo Metal, Mitsubishi (8058.T) and Mitsui (8031.T). Sumitomo Metal is targeting to boost annual nickel output capacity to 150,000 tons in a long-term from 82,000 tons now.

Persons: Ritsuko Shimizu, Katsuya Tanaka, ARL.AX, Masaru Takebayashi, Yuka Obayashi, David Evans Organizations: Sumitomo Metal Mining, REUTERS, Rights, Sumitomo Metal, Panasonic, U.S, Kalgoorlie Nickel, Mitsubishi, Mitsui, Thomson Locations: Tokyo, Japan, United States, Niihama, Pomalaa, Kalgoorlie, Western Australia

☆ Redwood inks long-term EV battery materials supply deal with Toyota
▼ + stars: | 2023-11-16 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

REUTERS/Johanna Geron/File Photo Acquire Licensing RightsNov 16 (Reuters) - Redwood Materials has signed a long-term contract to supply Toyota Motor (7203.T) with recycled materials for the Japanese automaker's $13.9 billion North Carolina electric vehicle battery plant, Redwood said Thursday. The Nevada-based materials specialist said it would remanufacture EV battery components from materials supplied by Toyota and recycled from end-of-life vehicles, mainly hybrid-electric models such as the Prius. Redwood, one of the world's leading battery recyclers, did not disclose details on value or timing of the agreement. Straubel said the company will supply battery components to Toyota from its Sparks, Nevada facility and eventually from a $3.5 billion facility it is building outside Charleston, South Carolina. Redwood also is selling remanufactured battery components to Panasonic, which jointly operates an EV battery plant with Tesla in Nevada.

Persons: Johanna Geron, Redwood, J.B, Tesla, Straubel, they'll, PitchBook, Paul Lienert, David Gregorio Our Organizations: Toyota, REUTERS, Redwood Materials, Carolina, Redwood, of Energy, U.S, Panasonic, Volkswagen, Ford, EV, Thomson Locations: Zaventem, Belgium, Nevada, U.S, Sparks , Nevada, Charleston , South Carolina, Redwood, North America, China, Detroit

☆ Retailers and delivery apps must act on e-bike safety, NY officials say, after 3 people died in a house fire linked with a scooter battery
▼ + stars: | 2023-11-15 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

New York City officials say retailers and food delivery apps must act on unsafe e-bike batteries. There have been hundreds of fires linked to lithium ion batteries in e-bikes and scooters in the city. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It's extensively damaged," Kavanagh said, adding that the battery that sparked the fire was for a "scooter of some kind." The city has seen hundreds of fires linked to the lithium ion batteries that power electric bikes and scooters in recent years.

Persons: —, Laura Kavanagh, Albertha West, Michael West, Jamiyl West, Kavanagh, haven't, Meera Joshi, They're, Joshi, Josh Gold, Uber, Patrick Burke Organizations: Service, —, Fire, Amazon, Walmart, City Hall, UL, Local Locations: York City, — New York City, Brooklyn, New York City

The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. Some officials, industry experts and others concerned about climate change uneasy supply of battery materials will not keep pace with demand. The Bipartisan Infrastructure Law assigned $6 billion in total funding for battery material processing and manufacturing. An initial round went to 15 projects including companies that mine critical minerals like graphite and nickel, used in lithium batteries. Tom Moerenhout, a professor at Columbia University's Center on Global Energy Policy, said it will be a big challenge to ramp up the global supply of critical minerals for the projected battery demand in 2030.

Persons: Harris, Jodie Lutkenhaus, “ I’m, ”, ” Lutkenhaus, Matthew McDowell, Tom Moerenhout, “, Moerenhout Organizations: Energy Department, DOE, Biden, Texas, M University, Infrastructure Law, Georgia Institute of Technology, Columbia University's Center, Global Energy, Companies, ____, AP Locations: Asia, Albemarle, Kings Mountain , North Carolina, U.S

NEW YORK (AP) — New York City officials say retailers and food delivery companies must do more to halt the proliferation of unsafe e-bike and e-scooter batteries, after a fire blamed on an electric scooter's lithium ion battery killed three people over the weekend. Fire officials said the fire broke out on the ground floor of the building. City officials have blamed off-market batteries and chargers that don't meet safety standards for many of the fires, and they have lobbied the federal government to strengthen regulations governing the sale of e-bikes and batteries. City officials haven't said whether the battery that caused Sunday's fire came from a vehicle used to make deliveries for one of the food service apps, and they didn't immediately respond to a Tuesday email seeking further information. Tens of thousands of the city's food delivery workers rely on e-bikes to get dinner to customers quickly, and Deputy Mayor for Operations Meera Joshi singled out the delivery industry during remarks at a City Hall news conference Tuesday, noting that time is money for delivery workers.

Persons: Laura Kavanagh, Albertha West, Michael West, Jamiyl West, “ It’s, ” Kavanagh, Kavanagh, ”, haven't, Meera Joshi, “ They're, ” Joshi, Josh Gold, Uber, Patrick Burke, “ We’ve Organizations: —, Fire, Amazon, Walmart, City Hall, UL, “, U.S, Congress Locations: — New York City, Brooklyn, New York City

Tuesday started with Nvidia getting more praise from one analyst, and a battery stock downgrade. She has a price target of $40 on shares, which suggests 20.3% upside potential from where shares closed on Monday. The firm initiated the stock with a buy rating and $125 price target, which suggests 7% upside from Monday's close. "3Q brings a narrative change in FREY's outlook with new risks to tech, strategy and funding that's been appropriately discounted by the stock market. He also slashed his price target to $2 from $13, which suggests 14.3% upside from Monday's close.

Persons: Tuesday, Morgan Stanley, Freyr, Paul Matteis, Matteis, Vistagen, — Hakyung Kim, BeautyHealth, Allen Gong, Gong, Benjamin Soff, Soff, Bernstein, Kraft Heinz, Alexia Howard, Howard, Miguel Patricio, Roth, Suji Desilva, Desilva, Morgan Stanley downgrades Freyr Battery Morgan Stanley isn't, that's, FREY, Adam Jonas, Jonas, Vivek Arya, — Fred Imbert Organizations: CNBC, Nvidia, Bank of America, Therapeutics Biotechnology, Vistagen Therapeutics, JPMorgan, Deutsche Bank, Rockstar, Kraft, Kraft Heinz, AMD, Investment, Freyr's, Nvidia Bank of America Locations: U.S, Monday's, Freyr's Norwegian

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