News

Like its competitors, battery manufacturer Envision AESC (Envision) is aggressively expanding production capacity to meet the rising demand related to electric vehicles and energy storage systems. ...  more

The board of directors of wafer supplier Sino-American Silicon Products (SAS) approved the financial report for the first quarter of 2022 on the 5th. The company attained a consolidated revenue of NT$18.769 billion, with a gross revenue of NT$7.462 billion, as well as a net operating profit of NT$6.205 billion, and a profit before tax of NT$703 million. A profit after tax of NT$1.265 billion was attributable to the parent company at an EPS of NT$2.16. ...  more

Ford has significantly dropped in overall sales in the face of the unmitigated chip shortage, though the country has risen sizably in BEV sales under the principle that first allocates raw materials to EVs, where battery electric vans took the crown of sales champion in the US. ...  more

Egypt’s Hassan Allam Utilities (HA Utilities) and UAE-based renewable energy developer Masdar have signed two MoUs to collaborate on the development of green hydrogen production in the Suez Canal Economic Zone (SC Zone or SETC) and on the Mediterranean coast. ...  more

Hangzhou First Applied Materials Co. Ltd. announced on April 25 that it will invest RMB 1.653 billion in four capacity expansion projects in order to grow its core business units and enhance their competitiveness and profitability. ...  more

Qingdao Gaoce Technology Co. Ltd. announced on April 28 that it has signed an investment cooperation agreement with the management committee of Jianhu Hi-Tech Industrial Development Zone. ...  more

Lucid Motor, a new electric vehicle startup, has signed an agreement with the Kingdom of Saudi Arabia for the purchase of up to 100,000 electric cars. Saudi Arabia is one of richest countries in the world. This deal represents the biggest procurement of EVs in history. ...  more

Apple may name its Apple Car project as Project Titan. According to a renowned leaker, the research team at the company plans to utilize a significant volume of titanium alloy in its design, and commission Foxconn, a long-term OEM of iPhones, to assemble and manufacture the vehicle, with the iPhone itself being used as the car key. Apple Car is expected to be priced at no less than US$100K, and will be announced in 2025 for the high-end EV market. ...  more

Demand is outstripping supply for battery cathode materials such as iron phosphate (FePO4) and lithium iron phosphate (LiFePO4) due to the boom in the NEV industry. ...  more

Electric vehicle start-up Rivian has won a US$1.5 billion grant from the Georgia state government to build a new factory with an annual capacity of 400,000 vehicles and an estimated 7,500 new jobs in what appears to be a win-win. ...  more