Running discussion on SP, page-49098

U.S. automakers to say they aspire to up to 50% of EV sales by 2030, sources say

The White House is planning an event Thursday with President Joe Biden and executives on electric vehicles from General Motors, Ford Motor and Chrysler parent Stellantis, as well as the administration’s proposed revisions to fuel economy requirements through the 2026 model year.

Detroit’s Big Three automakers plan to announce on Thursday they aspire to have 40% to 50% of new vehicle sales by 2030 be electric models, sources briefed on the matter said.

www.cnbc.com


Russia plans to subsidize electric cars to spur demand

Russia plans to subsidize the purchase of domestically manufactured electric vehicles to stimulate demand and production.

The use of electric cars in the oil and gas producing country has lagged far behind Europe and no EVs are made in Russia, but the government has ambitious production plans and is considering the financial stimulus to boost the sector.

Out of an estimated total of 45 million cars driven in Russia last year, only 11,000 were EVs, most of them used cars.

With electric cars being substantially more expensive than internal-combustion vehicles, the subsidy is aimed at making Russian-made EVs more affordable, Maxim Kolesnikov, department head Russia's economy ministry, told Reuters.

Through the subsidy, the government plans to cover 25 percent of the purchase price of any Russian-made electric car, to a maximum of 625,000 rubles ($8,570), possibly starting next year, he said.

Russia is targeting annual EV production of 220,000 units by 2030 and authorities have said that foreign automakers have shown interest in producing models locally.

Greater use of EVs would also help Russia meet carbon reduction targets.

The country joined the Paris climate pact in 2019 and aims to cut emissions by 2030 to 70 percent of their 1990 levels, a target it should hit easily because of de-industrialization since the Soviet Union broke up in 1991.

https://europe.autonews.com/


SK Innovation will split off battery business as EV demand rises

SK Innovation will split off its fast-growing battery business as it pushes ahead with plans to vastly increase production to take advantage of rising global demand for electric vehicles.

SK Innovation is planning to lift battery capacity to 200 gigawatt-hours by 2025 from about 40 GWh currently.

The company will aim to produce 500 GWh by the end of the decade.

The expansion is part of its plan to invest 30 trillion won ($26.2 billion) through 2025 to reach net-zero emissions in all of its operations before 2050.

Demand for batteries has surged this year as governments provide incentives for consumers to buy electric cars as part of efforts to reduce carbon emissions.

Global EV battery sales more than doubled in the first half, led by manufacturers in China, according to SNE Research.

SK Innovation said it has an order book of 1,000 GWh for EV batteries, worth about 130 trillion won.

https://europe.autonews.com/




Food for thought on the Road to Manono in your Mustang Elenoar

Fingers Crossed ML + MSEZ just around the corner now

Frank