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By shelitaauto
Source: Gasgoo
link hidden, please login to view 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.”
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By Counterman
MOOG recently announced the launch of its new line of Constant Velocity (CV) Axles. A news release explained that MOOG’s CV axles are engineered with high-quality materials and undergo rigorous testing to ensure a precise fit across various vehicle models. These CV axles feature neoprene boots that help prevent dirt and moisture intrusion, heat-treated components for increased strength, and high-quality grease to provide optimal lubrication.
“
link hidden, please login to view CV Axles represent MOOG’s commitment to providing problem-solving solutions,” said Thomas Galla, senior product manager at DRiV. “Our technician focus inspired the product design to be easy to install with an axle nut and inboard bolts included in each kit (where required), making vehicle maintenance a hassle-free experience.” The new CV Axles are compatible with a range of vehicle models. Notable compatible vehicles include the 2007-2020 Cadillac Escalade ESV (Front) with part number 10H002, boasting a vehicle in operation (VIO) of 9,710,288; the 2003-2009 Lexus GX470 (Front) with part number 14H002, which has a VIO of 4,998,289; and the 2002-2006 Chevrolet Avalanche 1500 (Front) featuring part number 10H001 and a VIO of 6,233,229.
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By AutoZone
MEMPHIS, Tenn. , Nov. 19, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas , will release results for its first quarter ended Saturday, November 23, 2024 , before market open on Tuesday,
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By Counterman
Auto-Wares announced the hiring of James Bannister as the company’s new director of training. The company said he will lead training efforts and focus on empowering employees and customers through comprehensive learning and development programs. Auto-Wares added Bannister’s role is essential in ensuring its teams across stores, warehouses, and corporate functions have the skills, knowledge, and tools needed to meet Auto-Wares’ strategic goals.
According to the company, Bannister brings over 20 years of experience in leadership and process optimization. His career spans roles in operations and training.
link hidden, please login to view added that he’s known for crafting innovative training programs that drive growth and develop teams across industries, including Fortune 500 companies. After starting his career as a technician and achieving ASE Master Certification, Bannister has also worked as a technical product specialist, shop foreman and operations manager.
link hidden, please login to view emphasized he has consistently demonstrated his ability to lead, mentor and develop impactful training programs, backed by his Automotive Technology degree from Lincoln Technical Institute. The post
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By Counterman
NexaMotion Group (NMG) announced the acquisition of
link hidden, please login to view, NexaMotion’s third acquisition of the year. The company has a total of three wholesale distributor locations: two in San Francisco, CA, and one in Honolulu, HI. City Auto Supply was represented by Schwartz Advisors, and the terms were not disclosed. City Auto Supply is a U.S. veteran-owned corporation founded in the San Francisco Bay Area in 1986. The company carries over 100,000 individual parts and is a leading distributor of automotive parts and supplies to the auto repair industry, the company said.
“An organization like
link hidden, please login to view is a great partner for City Auto Supply customers and team members. Our business is strategically aligned with NexaMotion Group and its leaders, and most importantly, we share the same values,” City Auto Supply Owner Larry Chew said. “NexaMotion Group and its subsidiaries are known for providing top-quality parts and exceptional service in the aftermarket industry.” “This marks our fifth acquisition in the general repair space over the past 18 months, and we’re just getting started,” Neil Sethi, president and CEO of
link hidden, please login to view, said. “Our mission has always been to simplify complex vehicle repair, and with each acquisition, we strengthen our ability to serve customers more effectively. We’re eager for what the future holds as we continue to expand and innovate.” The post
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