MARKET NEWS
Hyundai has begun developing a small and affordable electric car for India Link
BMW starts production at new $2.2 billion China plant to accelerate their EV output Link
Ford will start producing EVs in Spain for European distribution but this would imply significant job cuts at its Spanish factory Link
The supply of home electric car chargers could be disrupted after some manufacturers threatened to pull their products from sale in a dispute over new regulations. Link
Toyota joins Redwood Materials' EV battery recycling initiative building a closed-loop battery ecosystem aimed at lowering EV costs by lessening dependence on imported materials while also reducing the environmental impacts Link
EVs and hybrids should make up 80% of Ferrari’s sales by the end of the decade, allowing for “even more unique” cars to be produced Link
Audi plans to bring only electric-powered vehicles onto the market from 2026 Link
China’s shipments of cars rebounded in May, with EV exports more than doubling, as Covid lockdowns gradually ended Link
‘Affordable’ electric cars 50% pricier than petrol after grants scrapped Link
Towing using an EV is a problem due to the substantial drain on their batteries Link
New Zealanders are more likely to purchase a used EV than a new one - the only Asia-Pacific country where this was the case. Link
RELEVANT ARTICLES
The Financial Times - How the revolution in electric vehicles is changing mining Link
Consumers who buy EVs view themselves as active participants in a commitment to heal the planet. With their climate-conscious consumers in mind, car companies are analysing the environmental and social impact of every material in their supply chains. We now know that the mining sector, encouraged by the right incentives, has the potential to embrace a radical transformation. Car companies, including BMW, VW, Ford, and Tesla, are asking miners feeding their supply chains to sign on to the Initiative for Responsible Mining Assurance (IRMA) and undertake IRMA assessments. Our experience with the mining sector suggests it is possible to prevent backsliding on climate commitments. As long as the proper levers are in place, safe and sustainable supply chains can be balanced with security of supply even through pandemics and conflicts.
The Times - Beijing bans Teslas from Communist Party elite’s favourite seaside resort Link
Beidaihe, the favoured summer getaway for China’s communist elite, has identified a new threat: Teslas. No one will be driving around Beidaihe in a Tesla amid growing paranoia that the “smart” electric cars’ array of sensors can be used to spy on President Xi and party officials while they enjoy their workers’ holiday. Police have said that a two-month ban on the cars entering the town, 160 miles east of Beijing on the shore of the Bohai Sea, would be in place to protect “national affairs”. The irony is that China is one of Tesla’s largest markets. The Shanghai plant produced about half of the 936,000 vehicles that Tesla delivered globally last year.
STATISTIC OF THE WEEK
The cities where you can charge an electric car fastest: Nottingham has most rapid devices that add 100 miles of range in around 20 minutes Link
