Automobile Industry 02 (Oct 15 - Dec 24)

[winston]

China to cut new energy vehicle subsidies by 30pc in 2022

China will cut subsidies on new energy vehicles (NEVs), such as electric cars, by 30 percent in 2022 and withdraw them altogether at the end of the year, the Finance Ministry said on its website on Friday.

The ministry had said in April 2020 that NEV subsidies would be cut from 2020 to 2022 by 10 percent, 20 percent and 30 percent, respectively.

For NEVs for public transport, subsidies would be cut by 10 percent in 2021 and by 20 percent in 2022.

China, the world's biggest auto market, has set a target for NEVs, including plug-in hybrids and hydrogen fuel cell vehicles, to make up 20 percent of auto sales by 2025.

Global automakers such as Volkswagen AG, General Motors Co, Toyota Motor Corp and Tesla Inc are ramping up electric vehicle production in China.

Industry body China Association of Automobile Manufacturers estimated earlier in December that sales of NEVs in China would grow by 47 percent to five million in 2021.

Source: Reuters

https://www.thestandard.com.hk/breaking ... pc-in-2022

[winston]

Self-driving car to hit roads in China by 2024

US chipmaker Intel's autonomous driving unit Mobileye plans to work with Zeekr, which is backed by Geely Holding, the parent of Geely Automobile (0175), to launch in China what the companies claim will be the world's first mostly self-driving car in 2024.

Source: Reuters

https://www.thestandard.com.hk/section- ... na-by-2024

[behappyalways]

"Bronco Ice Mountain": Thousands Of Ford Broncos Are Stacking Up In A Michigan Lot
https://www.zerohedge.com/markets/bronc ... chigan-lot

[behappyalways]

Breaking Down The Cost Of An EV Battery Cell
https://www.zerohedge.com/technology/br ... ttery-cell

[behappyalways]

Chinese EV Manufacturers Grapple With Rising Raw Material Costs, Shrinking Margins
https://www.zerohedge.com/markets/chine ... ng-margins

[winston]

M Stanley: Elevated Risks for Automakers in 2Q; Pandemic Measures Curb Component Supply in Yangtze River Delta

NIO-SW (09866.HK) announced that the company's automobile production has been temporarily suspended due to logistic and production disruptions caused by lockdowns in multiple cities across China, as well as the tight supply due to the intensifying COVID-19 pandemic, reported Morgan Stanley.

In terms of the 2Q22 outlook for the auto sector, Morgan Stanley remarked that the risks of prolonged lockdowns and more stringent social distancing measures will likely increase over the period, with the stricter COVID containment measures potentially crippling component supply around the Yangtze River Delta.

Apart from eastern China, automakers will likewise have to closely monitor the pandemic policies in Beijing and Guangzhou, which could induce far-reaching supply chain impact, the broker added.

Related News: Citi Cites GAC GROUP's Forecast: Sales Vol. of GAC-Honda/ GAC-Toyota to Grow +20%/ +40% in 1Q22, Overall GPM Robust

Source: AAStocks Financial News

[behappyalways]

汽車業好慘! 受俄烏衝擊減產量恐達400萬｜FOCUS午間新聞 20220421
https://m.youtube.com/watch?v=K60Ar6htUE0

[behappyalways]

烏俄掌控汽車關鍵原料 戰爭衝擊歐美車市 TVBS文茜的世界財經周報 20220424
https://m.youtube.com/watch?v=_8UTN1iEsuc

[behappyalways]

因應全球晶片荒 車廠被迫刪減車內自動功能｜FOCUS午間新聞 20220506
https://m.youtube.com/watch?v=M0QYHqt-Pvc

[winston]

Enough raw metals to produce 14m electric cars globally in 2023, study shows

There will be enough lithium and nickel metals to make up to 14 million battery electric vehicles (BEV) globally in 2023 — 55% higher than the current market projections even without Russian supplies.

In 2025, even if raw material supplies tighten and remain below battery factory capacity, 21 million BEVs could still be produced — almost 50% more than market estimates.

Source: Bernama

https://www.theedgemarkets.com/article/ ... tudy-shows