Reality check for VW in China after sluggish start for electric car series - Reuters reuters.com/business/autos…
Volkswagen AG's ID series - the backbone of its electric vehicle ambitions - is off to what even company sources call a worryingly slow start in China
Sales in May of two ID.4 electric SUV models, launched only two months earlier, came to a mere 1,213 combined
And that was about 200 fewer than in April, according to auto consultancy LMC
The sales fall far short of initial hopes and what some other automakers have achieved with early sales of flagship EV offerings in the world's largest auto market
As a World First, Nouveau Monde Graphite Has Signed a Collaboration Agreement with Caterpillar for the Development of a Zero-Emission Solution for the Matawinie Mine globenewswire.com/news-release/2…
Nouveau Monde and Caterpillar have signed an agreement pursuant to which Caterpillar will develop, test and produce Cat® “zero-emission machines” for the Matawinie graphite mining project in Saint-Michel-des-Saints, Québec, Canada
The collaboration between the companies focuses on Nouveau Monde’s goal to fully power the site with zero carbon footprint renewable energy
Nouveau Monde and Caterpillar are committed to supporting the mining industry’s move toward a more sustainable future
In China, the US battery manufacturer Farasis is establishing a joint venture with the Geely automotive group for the research and development as well as production and sale of lithium-ion batteries for electric vehicles and other applications electrive.com/2021/05/23/far…
Farasis is already a partner with Daimler and currently has two factories in China as well as further factory planned in Germany
With this joint venture, Geely Technologies and its subsidiaries and Geely Commercial Vehicle Group aim to meet at least 80% of their battery needs
According to the Chinese news site Gasgoo, the agreement stipulates that the new joint venture will involve a registered capital of 1 billion yuan ($155.577 million or approximately 127 million euros), 65% of which are subscribed by Geely Technology
The introduction of electric cars enjoys top priority at Mercedes - Daimler has made this clear on the occasion of a demand due to the current semiconductor shortage
The battery is one of the most important components of an electric car - many manufacturers want to build it themselves
But when it comes to manufacturing the cells contained in the batteries, most carmakers prefer to let suppliers have a go
There’s been a new milestone in the extraordinary rise of Contemporary Amperex Technology Co. Ltd., the decade-old Chinese firm that’s now the world’s biggest supplier of electric car batteries and a crucial partner to automakers including Tesla bloomberg.com/news/newslette…
CATL has become a key force in the global auto sector by dominating EV battery production
The firm accounted for around a third of all sales in the first four months of 2021, ahead of rivals like LG Energy and Panasonic, according to data provider SNE Research
The producer’s Shenzhen-listed shares closed at a record Monday, capping a more than 1,150% gain since their listing three years ago and giving the company a market capitalization of 1.05 trillion yuan ($160 billion), just a shade more than the value of Volkswagen