Business News

Benz & BMW

Mercedes-Benz and BMW Brilliance have announced the signing of a cooperation agreement to establish a joint venture in China with a 50:50 equity ratio. The main focus of this partnership will be on operating a supercharging network, with plans to begin operation of the first batch of charging stations in key new energy vehicle cities in China from 2024 onwards. This charging network will be open to the public.

Volkswagen

Volkswagen, Audi, Porsche, and ScoutMotors have announced that their future vehicles will adopt the North American Charging Standard (NACS) starting in 2025. The companies are currently researching adapter solutions for their existing vehicles.

G.M & EVgo

General Motors and EVgo Inc. recently announced the launch of the first 17 electric vehicle fast-charging networks across the United States, which will be available at existing Pilot and Flying J travel centers in 13 states.

Tesla in Mexico

The government of the state of Nuevo León in Mexico has announced that Tesla has obtained its land use permit and will invest over $5 billion to build a Gigafactory on an approximately 261-hectare site. The factory is expected to have an annual production capacity of 1 million vehicles, with the next generation entry-level model being produced here first.

Regional News

New energy vehicles in US

The sales of electric and plug-in hybrid vehicles in the United States have exceeded 1.2 million units in the first eleven months of this year, with pure electric vehicle sales surpassing 1 million units for the first time, representing a year-on-year growth rate of 50.7%.

Treasury Department of US

Starting in 2024, electric vehicles produced in the United States will no longer be eligible for tax exemptions if they contain battery components that are manufactured or assembled in countries such as China, according to an announcement by the U.S. Department of the Treasury.

New car registrations in EU

The European Automobile Manufacturers’ Association has announced that electric vehicles, including pure electric models, hybrid cars, and plug-in hybrid cars, accounted for more than 47.6% of all new passenger car registrations in the European Union from January to November this year, surpassing last year’s figures.

Hungary

Hungary suggests that the European Union should reconsider implementing stricter fiscal policies and providing higher subsidies to the electric vehicle industry in order to better compete with the United States and China.

French EV subsidy policy

The French government recently released a revised list of electric vehicles eligible for subsidies, revealing that approximately 65% of locally sold electric cars meet the subsidy criteria. The updated policy shows a preference for automobiles manufactured in France and Europe.

German EV subsidy policy

The German Ministry of Economy has announced that the subsidy program for electric vehicles will be terminated ahead of schedule on December 18th. The program, which has already disbursed approximately 10 billion euros since 2016, was originally planned to continue until the end of 2024. Subsidies that have already been applied for will still be granted; however, starting from December 18th, the German government will no longer accept new subsidy applications.