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Volvo Bus Participates in Swedish Waste Battery Energy Storage Research and Development Project
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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
New research by the Specialty Equipment Market Association (SEMA) is shedding light on the latest trends and developments in vehicle lifecycles and providing new insights for those who provide parts for accessorizing and modifying the more than 289 million vehicles in the US.
Findings in the new
link hidden, please login to view include: Vehicles are staying on the road longer, a continuing trend. The average U.S. vehicle age is now at 12.6 years, its highest number in over a decade. Passenger cars are now an average of 14 years old (up from 13.6), while light trucks rose slightly to 11.9, from 11.8. Used-car market ticks downward but remains historically high. The average listing price of a used vehicle in the U.S. is $25,251, as of July 2024. Car values have fallen faster than that of light trucks, with the sharpest decrease in overall vehicle value found in EVs (-11%). Stabilization of new vehicle prices offset by continued climb of interest rates. The average new vehicle price sits at $48,644, down slightly from the year prior, and halting a dramatic climb that began in the beginning of 2021. However, interest rates for new and used vehicles continue to hound buyers, remaining significantly higher than those offered in 2021-2022, regardless of loan-term length. Automakers are producing fewer entry-level vehicles. While new vehicle inventory in 2024 has reached a three-and-a-half-year high, small cars and other entry-level vehicles (those priced below $20,000) make up just 0.7% of the market, compared with 7% five years ago. This lack of affordability has a profound impact on younger people, who are historically more price-sensitive than older drivers. Two decades of increasingly dependable vehicles. Since 2003, vehicles have exhibited fewer problems, highlighting a growing reliability that is a boon to consumers. However, recent years have yielded an increase in vehicle issues tied to new technology-based automotive features, including driving assistance and infotainment systems — a trend that could impact future dependability. The nation’s fleet of vehicles is growing. The past year saw the net addition of 3 million more vehicles to the roads, with crossovers (72.7 million) closing the gap with passenger cars (89.2 million) as the dominant segment of the entire fleet. However, compared to 10 years ago, vehicle registrations skew more heavily toward light trucks than cars. The specialty-equipment aftermarket continues to grow — and is expected to keep growing. Specialty equipment retail sales in 2023 surpassed $52.3 billion and are forecasted to grow to more than $57 billion by 2026. The research also reveals trends across four categories of vehicles (Classic, Aged, Core and Modern), highlighting age, popularity, usage and consumer spending habits. For accessorizing, pickups and muscle cars are the top choice for enthusiasts. Meanwhile, vehicles in the Aged category are driving spending for performance products, as a way to refresh their older vehicle. Aftermarket product spending for Modern and Core vehicles was primarily (59% and 54%) on accessory and appearance products, while 43% of spending on Classic vehicles was for performance products.
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