Business News

Tesla

Tesla has invested $150 million to establish a semiconductor company in Jinan, with Enoch Thomas serving as the legal representative. The business scope includes the manufacturing of discrete semiconductor devices, integrated circuit design, chip production, and product manufacturing.

Tesla’s Shanghai Gigafactory is scheduled to undergo annual production line maintenance for one week, during which personnel will also take a break. However, the charging stations and other workshops will continue operating without interruption. Additionally, Tesla has recently completed the construction of its 10,000th Supercharger.

Mercedes-Benz

Mercedes-Benz plans to invest 1 billion euros in restructuring its global production network for electric drive systems, starting from 2024. This includes battery assembly, electric drive units, and vehicle axles.

Audi

Audi has announced its future production strategy and development plan: starting in 2026, it will only launch electric vehicles; from 2029 onwards, all of its vehicle factories will be capable of producing zero-emission cars; and from 2033, its subsidiary factories will gradually cease the production of fuel-powered vehicles.

BMW

BMW China has announced that by 2023, the BMW Group will introduce 11 new pure electric vehicles for Chinese customers. Additionally, there will be a large-scale expansion of BMW’s power battery production base in Shenyang, Liaoning Province.

Porsche

Porsche has launched a charging upgrade package for the Taycan, which provides a brand-new charging interface with a maximum power of 19.2kW and supports plug-and-charge functionality. The previous version of the charging interface only supported a charging power of 11kW.

General

General Motors and LG Energy Solution’s joint venture, Ultium Cells, have announced an additional investment of $275 million to expand their battery factory in Tennessee with the aim of increasing production capacity by over 40%, reaching a total of 50GWh.

LG

LG New Energy has announced its plan to invest 40 trillion Korean won by the end of 2026, with the aim of expanding battery factory capacity and increasing market share.

Regional News

Indonesia

The Indonesian Minister of Industry has announced that the government plans to provide a subsidy of up to 80 million Indonesian rupiahs (approximately $5,130) for each electric vehicle.

Germany

In 2022, the German government provided subsidies totaling approximately 3.2 billion euros to around 640,000 electric vehicles, which marked a historic high in terms of both consumer numbers and subsidy amounts.

France

France will launch a project solicitation campaign with an investment of 1.1 billion euros to support investment projects in the field of electric vehicles.

EU

Electricity prices in Europe are soaring, and the cost difference between electric vehicles and fuel-powered cars has become negligible, to the point where charging an electric vehicle can be even more expensive than refueling a gasoline car in certain situations.

US

California plans to invest $2.9 billion in a clean transportation investment plan, which includes the construction of an extensive network of electric vehicle charging stations and hydrogen fueling stations to accelerate the transition away from fossil fuel-powered cars and trucks.

Norway

The Norwegian Electric Vehicle Association recently stated that the proportion of electric vehicles in Norway’s total vehicle stock is expected to reach 30% within less than two years.