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Source: Gasgoo https://www.shelitaautoparts.com/shop-2/ According to Bloomberg, South Korean battery manufacturer LG New Energy has called on the European Union to reduce energy costs and develop the EU battery industry amid fierce competition with China’s battery industry. Image Source: LG New Energy Due to weak global demand for electric vehicles, LG NEV’s plant near Wroclaw, Poland, has been running at about 50 percent capacity utilization since the beginning of this year. LG New Energy revealed that at present, Chinese electric vehicle battery and electric vehicle manufacturers are expanding their influence in the European continent, while the European Union is also planning to implement stricter carbon emission regulations. Eu governments should therefore prioritize providing affordable electricity to key growth sectors, such as the manufacturing of electric vehicle batteries. Yong Girl Lee, head of external relations at LG New Energy, said that if Poland wants to build an advanced battery industry, it needs to provide the industry with affordable electricity. However, the Polish government prefers to insulate households, rather than industry, from high electricity and gas prices. Poland has one of the highest electricity prices in the European Union because of its reliance on coal-fired power, which also increases carbon emissions. At present, LG New Energy is adjusting to the weakness of the electric vehicle market. The company plans to start producing more affordable lithium iron phosphate energy storage batteries from 2025 and LFP batteries for cars from 2026. Yong Girl Lee said that the capacity utilization rate of LG New Energy Poland plant will start to rise from the second half of next year, of which car battery production still accounts for the vast majority of the factory’s total output. In 2023, exports from LG New Energy Polish plant accounted for 3% of Poland’s total exports. The plant will need to use about 1 terawatt hour of electricity per year, which can be purchased either through direct agreements with renewable energy producers or on the market. LG New Energy Poland wants the Polish government to allow companies operating within its 14 special economic zones preferential access to affordable green energy, especially as electricity usage will grow with the rise of automation and the expansion of data storage. If Poland cannot guarantee priority access to electricity for battery companies, then EU companies may face many difficulties in competing with Chinese companies. At the same time, the European Union is also working on new battery regulations that are expected to impose stricter carbon emission requirements on battery manufacturers. “Chinese battery manufacturers are globally competitive, which is why the EU needs to act quickly,” Lee said. The battery industry is very important and strategic, and the Polish government needs to think about how to protect it.”

Source: Gasgoo https://www.shelitaautoparts.com/nissan-expects-u-s-production-to-fall-17-in-fiscal-2024/ Japanese automaker Nissan Motor’s two assembly plants in the southeastern United States have been affected by slowing vehicle sales. Nissan Motor North America expects its U.S. production to decrease by 17 percent in fiscal year 2024 (April 2024 to March 2025). Nissan has already said it will cut its production by 20 percent globally to deal with oversupply and ballooning costs. Image Source: Nissan In a planning document sent to auto parts suppliers in November, Nissan projected it would build 503,202 vehicles in Canton, Mississippi, and Smyrna, Tennessee, in fiscal 2024, down from 605,435 in fiscal 2023. Nissan has informed its auto parts suppliers that its vehicle production for the second half of the fiscal year 2024 (October 2024 to March 2025) will be 12,554 units less than originally planned (i.e. a 4.8% reduction). Nissan is cutting production of several light trucks, including 6,438 Frontier midsize pickups and 2,010 Rogue compact crossovers. In the first nine months of this year, the two models together accounted for 37% of Nissan’s U.S. sales. Nissan also plans to reduce production of 2,290 Pathfinder large crossovers and 2,465 Infiniti QX60 midsize crossovers, but plans to increase production of 649 Nissan Altima midsize sedans. At the same time, Nissan will reduce shifts at some assembly plants from five days a week to four by the end of the year. Nissan spokesman Brian Brockman said the company adjusted its production forecast in response to a dynamic market to ensure the automaker maintains healthy supply and inventory levels. Nissan has cut U.S. production several times this year to reduce dealer inventories. U.S. supply of the Nissan brand peaked at 112 days in April, compared with an industry average of 76 days, according to Cox Automotive. In the first quarter of this year, Nissan reduced its U.S. production by 6%, or about 10,200 vehicles, with the Rogue model accounting for more than 50% of the reduction, and the Pathfinder and Frontier models also affected. In September and October, Nissan cut production of the Rogue and Frontier by as much as 40,000 vehicles. According to Automotive News Research and Data Center, the Nissan brand has lost more than 25 percent of its market share in the U.S. over the past five years, and its market share has fallen to 5.6 percent in the first nine months of this year. The reduction in Nissan’s vehicle production pushed the profitability of Nissan dealers to its lowest level in nearly 15 years in the first half of this year.

SHELITA Primary product lineup: Bumpers, grilles, radiator supports, lamps, bearings, door mirrors, and an assortment of metal components, catering to European, American, Chinese, and Japanese vehicle models. URL: https://www.shelitaautoparts.com/product-category/tesla/

Source: Gasgoo URL: https://shelitaautoparts.blogspot.com/2024/07/self-driving-taxis-could-send-tesla.html URL: https://www.shelitaautoparts.com/self-driving-taxis-could-send-tesla-shares-up-tenfold/ Cathie Wood of Ark Investment Management said Tesla’s move into the more profitable business of self-driving taxi platforms would boost its share price by about 10 times. That echoes years of optimism about Tesla’s self-driving business. Image source: Tesla Wood believes the self-driving taxi ecosystem will be worth $8 trillion to $10 trillion globally, with platform providers such as Tesla taking half of that. Speaking on the Tiger Money podcast, Wood revealed that investors are shifting the way they value Tesla, not just as an electric car maker, but also the potential of its self-driving taxis. Wood said: “The autonomous taxi platform is the fastest growing AI project today, and Ark is primarily valuing it based on Tesla’s autonomous driving potential. If we’re right, there’s plenty of room for Tesla’s stock price to grow.” Optimism over Tesla’s efforts to bring self-driving taxis to market has helped its shares recover a 43 per cent fall in the year to April 22. Wood said the self-driving taxi network will provide A “winner-takes-all” opportunity, with providers that can get passengers from point A to point B in the safest and fastest way winning the lion’s share of business. She added that autonomous taxi network providers will be able to capture 30 to 50 percent of the revenue generated by fleet owners on the platform, resulting in “growing explosive cash flows” and profit margins of more than 50 percent. This is different from the “make and sell” or “one-off” business model of traditional car manufacturing. “We think people are missing that: the size of the opportunity, the speed of expansion, and how profitable it will be,” Wood said. She expects Tesla to dominate the U.S. self-driving taxi market. Last week, Tesla had a weighting of more than 15% in the $6.5 billion Ark Innovation ETF. Wood said the fund has taken some profits off Tesla, allowing the stock to trade above its normal cap because they believe Tesla is about to reveal more information about its self-driving taxi project. According to a Bloomberg report on July 18, Tesla has delayed the launch of its self-driving taxi by two months to October, originally scheduled for August, to give the team more time to produce more prototypes. The news sent Tesla shares down 8.4%, their biggest one-day drop since January. But Wood doesn’t mind. “We may be closer to the self-driving taxi opportunity than we are further away, and Musk may want to do better and think it is possible by October,” Wood said. Fang’s valuation model does not yet take into account Tesla’s potential in China or in humanoid robotics and energy storage. In April, Tesla, which reached a mapping and navigation deal with Chinese tech giant Baidu Inc and met data security and privacy protection requirements, has already received approval in principle from Chinese officials to deploy its self-driving assistance system to China, the world’s largest auto market.

URL: https://www.shelitaautoparts.com/fords-electric-vehicle-sales-surged-in-the-second-quarter-followed-only-to-tesla-in-the-united-states/ Source: Gasgoo In the second quarter, Ford’s electric vehicle sales in the United States again surpassed General Motors, ranking second in the U.S. electric vehicle market sales, and is on track to close the gap with Tesla. Ford Mustang Mach-E; Image source: Ford In the second quarter of this year, Ford sold 23,957 electric vehicles in the United States, a 61% increase from the same period last year, when total electric vehicle sales were 14,843. Meanwhile, Ford’s sales of hybrid vehicles rose 55 percent year over year. However, sales of internal combustion engine cars were down 5 per cent year on year. Ford saw double-digit sales growth for several of its electric vehicles. Sales of the Ford F-150 Lightning rose 76.9% to 7,902 units. While new competitors such as the Tesla Cybertruck and the Chevrolet Silverado EV RST have all hit the U.S. market, the Ford F-150 Lightning remained the best-selling electric truck in the U.S. in the first half of the year, with 15,654 units sold. Second-quarter sales of the Ford Mustang Mach-E were up 46.5% year-over-year to 12,645 units. In the first half of this year, 22,234 units of the Mustang Mach-E were delivered, the best performance ever. Sales of Ford’s E-Transit electric van continued to climb in the second quarter, rising 95.5 percent to 3,410 units from a year earlier. In the first half of 2024, Ford sold a total of 44,189 electric vehicles in the U.S. market, up 72% from 25,709 in the same period last year. Ford CEO Jim Farley said the automaker is shifting to smaller, more affordable electric vehicles to close the gap with Tesla and fend off competitors like BYD worldwide. Referring to Americans’ love affair with “larger vehicles,” Farley said smaller electric vehicles are “very important to driving the decarbonisation of American society and the development of electric vehicles.” Ford’s surge in electric vehicle sales in the US market is enough for it to continue to overtake General Motors. In the United States, GM delivered 21,930 electric vehicles in the second quarter, compared with 38,355 in the first half of 2024. GM is also ramping up production by introducing new models, with electric models such as the Chevrolet Blazer, Equinox and Silverado coming to the U.S. market. While Tesla did not give specific sales figures by region, its second-quarter electric vehicle sales worldwide exceeded expectations, delivering 443,956 electric vehicles and remaining №1 in the U.S. market. As competition in the U.S. electric vehicle market intensifies, other competitors, including Hyundai and Kia, also set new EV sales records in the second quarter. Hyundai Motor, for example, set a new sales record with its IONIQ 5 model, which sold 18,728 units in the first half of the year. Meanwhile, sales of Kia’s first three-row electric SUV, the EV9, are also climbing.

URL: https://www.shelitaautoparts.com/hyundai-motor-seeks-to-expand-in-southeast-asia/ Source: Gasgoo South Korea’s Hyundai Motor Group said on July 1 that it is seeking to seize an early lead in the booming automotive market in Southeast Asia, thanks to its established presence in several countries in the Association of Southeast Asian Nations (ASEAN). The group said that its first automotive manufacturing plant in the ASEAN region, Hyundai Motor Manufacturing Indonesia (HMMI), produced 22,520 vehicles in the first quarter of this year, achieving an operating rate of 110.9%. Hyundai said that this figure was the highest among all its overseas factories during the same period. Last year’s operating rate at HMMI was just 50.3%, showing that both demand and supply for Hyundai in the local market have grown rapidly in the past year. Image source: Hyundai Motor Hyundai Motor has committed to investing approximately $1.55 billion in HMMI by 2030. HMMI currently oversees the production of vehicles including the super-mini SUV Creta, compact multi-purpose vehicle Stargazer, mid-size SUV Santa Fe, and the award-winning electric vehicle IONIQ 5. Through May 31st of this year, HMMI has sold a total of 1,927,92 vehicles. Hyundai also highlighted its electric vehicle battery production in Southeast Asia. The company established a joint cell factory with South Korean battery manufacturer LG Energy Solution in Karawang New Industry City, Indonesia, in June last year. The joint venture, named HLI Green Power, began mass production of cells in April this year. Hyundai stated that the Kona Electric will be the first vehicle to feature cells produced in Southeast Asia. The company noted that this will make Hyundai the first automaker in Indonesia to have a complete production and sales chain for electric vehicles. Hyundai sold 7,475 electric vehicles in Indonesia last year, accounting for 43.8% of the market and becoming the country’s largest electric vehicle seller. Hyundai stated that although it is leading in the electric vehicle market, Chinese electric vehicle brands are actively expanding their business in Indonesia and reiterated its plan to pay more attention to the ASEAN region.

Source: Gasgoo Image source: Scout Volkswagen Group’s Scout brand has received nearly $1.3 billion in incentives for its $2 billion plant in South Carolina. The state’s governor Henry McMaster signed the bill approving the incentives. South Carolina Commerce Secretary Harry Lightsey said Scout will also receive up to $180 million in tax credits based on hiring to promote job development. Vw recently revealed that Scout is expected to create 4,000 jobs in the region. Scout’s South Carolina plant will need workers in the body shop, paint shop and final assembly shop. Scout’s new plant is expected to open by the end of 2026, a $2 billion, 1,600-acre facility that will focus on building electric trucks and durable SUV models. Earlier this year, Scout CEO Scott Keogh said the company would launch its first all-electric SUV in the third quarter, with a starting price expected to be $40,000. “I think the design is 85, 90, 95 percent done,” Keogh said. I call it a ‘big B-class SUV.’ We will also release a full-size pickup truck in the future. These are all models that we’re bringing to market, and when we’re ready for an official announcement, we’ll announce them.” The Volkswagen Group is hoping the Scout brand will help it break through in the U.S. electric pickup market. The German automaker is aiming to increase its share of the U.S. auto market.

Source: Gasgoo Stellantis' vice president of artificial intelligence, algorithms and machine learning, Berta Rodriguez-Hervas, has resigned. Rodriguez-Hervas is one of several executives who have recently left Stellantis. A spokeswoman for Stellantis confirmed her departure and said she had decided to pursue new opportunities. Rodriguez-Hervas joined Stellantis in January 2022 from computer chip maker Nvidia, according to her LinkedIn profile. In a video Stellantis posted last year, Rodriguez-Hervas said Stellantis is "the perfect combination of tradition and innovation." Image source: Stellantis Previously, Rodriguez-Hervas worked on Autopilot driver-assistance technology at Tesla and was a PhD researcher in the safety research team at Mercedes-Benz, focusing on machine learning and radar systems. A Stellantis spokesperson said in a statement: “We maintain a high talent density and will continue to work on talent development and succession planning throughout the year to ensure talent and work continuity.” Our strong team is ready to continue the excellent work achieved so far.” The spokesperson also said Stellantis expects its next-generation technology platforms, including STLA Auto-drive, STLA Brain and STLA Smart Cockpit, to be ready by the end of 2024. Earlier this month, a Stellantis spokesman said former Jeep North America head Jim Morrison had left the company. Morrison’s departure comes amid Jeep’s fifth straight year of declining U.S. sales. Stellantis named Antonio Filosa as Jeep CEO in November. Filosa succeeds Christian Meunier, who has been in charge of the brand’s global operations since 2019.

Source: Gasgoo URL: https://www.shelitaautoparts.com/the-electric-car-maker-fisker-is-recalling-more-than-18000-vehicles/ Electric car maker Fisker said on June 12 it would recall more than 18,000 vehicles in North America and Europe due to software glitches and non-compliance with safety standards, the latest setback for the cash-strapped electric car start-up. Fisker is voluntarily recalling 11,201 Ocean vehicles sold in the United States, Canada and Europe to fix a software issue that could cause the vehicles to enter safe state protected mode, potentially causing the motors to lose power. In addition, Fisker is recalling 6,864 Ocean vehicles in the United States because the dashboard and display prompt ICONS do not comply with the Federal Motor Vehicle Safety Standard (FMVSS). The company will also recall an additional 281 vehicles in Canada as a result. Image source: Fisker The startup plans to address these issues with an OTA update to Ocean OS in-car software by June 30. The company said vehicles that have been updated to the latest version of the software are not affected by the recall. The National Highway Traffic Safety Administration (NHTSA) is investigating four safety incidents involving the Ocean SUV, the only Fisker model currently in production. NHTSA said last month that it was investigating complaints that the Ocean Automatic Emergency Braking System was accidentally activated. Cash-strapped Fisker is looking for alternatives after talks with a major automaker over a potential investment collapsed. The company’s Austrian subsidiary filed for bankruptcy protection in May.

Source: Gasgoo URL: https://www.shelitaautoparts.com/australian-car-sales-in-may-electric-and-hybrid-cars-accounted-for-one-in-four/ According to foreign media reports, the Australian Federal Automobile Industry Chamber of Commerce released automobile sales data in May, the month of new car sales in Australia hit a record high. Sales of hybrid vehicles doubled year on year to reach 15.8 percent of the market, compared with a 0.4 percent increase in electric vehicle sales. Almost one in every four new cars in Australia is currently a low-emission vehicle, so hybrid and electric vehicles are taking a greater share of the market. Meanwhile, Australians’ love affair with larger cars is still on the rise, with SUVs still dominating and ute sales continuing to grow. This trend has more than doubled the popularity of hybrid cars in 2024, with more than 66,000 units sold, compared to less than 30,000 in the same period in 2023. Electric vehicle sales also increased in Australia in May, with more than 8,900 units sold, accounting for 8.1 per cent of all new car sales, with more than 40,000 new electric vehicles on the road in Australia in the first five months of the year. Tony Weber, the chamber’s chief executive, said the auto industry is working hard to meet the needs of drivers. “The continued growth in vehicle sales underscores consumer confidence and demonstrates the industry’s ability to meet the diverse needs of Australian consumers in the face of the current economic challenges,” he said. However, large vehicles remain a popular choice for drivers regardless of fuel consumption, with SUVs accounting for more than half of vehicles sold and light commercial vehicles accounting for 22 percent of new vehicles. UTE also took three of the top five best-selling cars in May, with the Ford Ranger taking the top spot, followed by the Toyota Hilux and Isuzu’s D-Max light truck in fourth place. Image source: Ford Toyota was again the top-selling car manufacturer in Australia for the month, followed by Ford, Mazda, Kia and Hyundai. The data also showed a drop in sales for electric car leader Tesla, with the US company selling 3,567 vehicles in Australia in May, compared with 4,476 in the same month last year. Its main electric car rival BYD, however, saw sales climb, with the Chinese company selling 1,914 electric vehicles in the month, up 32 percent from a year earlier. The growing sales of electric and hybrid vehicles come ahead of the introduction in January of Australia’s first fuel efficiency standard, a legal standard that will set emissions limits on carmakers’ fleets of passenger cars, large and commercial vehicles in an attempt to reduce transport emissions by 2030.

URL: https://www.shelitaautoparts.com/bmw-receives-funding-from-the-eu-hydrogen-project/ Source: Gasgoo As part of the EU’s 1.4 billion euro ($1.52 billion) state aid package, BMW is the only car manufacturer to receive EU funding for a hydrogen project. Other companies that have received funding include tire maker Michelin Group and aircraft manufacturing and development company Airbus. The European Commission said on May 28 that the initial funding is expected to unlock an additional 3.3 billion euros in private investment. The Hy2Move program is the fourth round of funding related to hydrogen energy and focuses on mobility. The hydrogen energy initiative has been declared one of the key projects of common European interest and is expected to play an important role in the EU’s 2050 carbon neutrality goal. Other important projects of common European interest include semiconductors and batteries for electric vehicles. Details of BMW’s project and the amount of funding will be announced shortly after the scheme receives final approval and restrictions on publication of trade secrets are lifted, the commission said. BMW is one of the few companies to support hydrogen fuel cell technology and has launched a pilot fleet of hydrogen-powered X5 SUVs. Image source: BMW The iX5 features a hybrid battery/fuel cell drivetrain with a total output of 401 HP (295 kW). Two 700-bar carbon-fiber-reinforced plastic hydrogen storage tanks can hold about 6 kilograms of hydrogen and travel 504 kilometers (303 miles) in WLTP conditions. For now, BMW has yet to commit to mass production of the iX5. Other automakers backing hydrogen include Toyota, Renault, Hyundai and Honda. Toyota makes the Mirai fuel cell sedan, and Renault says hydrogen can power the internal combustion engine in its Alpine range of sports cars. The “Hy2Move” project will be co-funded by Estonia, France, Germany, Italy, the Netherlands, Slovakia and Spain. A total of 11 companies plan to participate in 13 programs. The European Commission says it expects to create 3,300 jobs by 2031.