Australia cashes in on cobalt., page-10

This can only help COB
From Carsales.com.au --- Main steam media
All known by COB holders, but not necessarily know and understood by the average punter.

NEWSJune 1, 2021
Combustion engines facing early retirement Hyundai to halve combustion engine range as more brands put brakes on ICE development Following the lead of General Motors, Volvo and other global car-makers, the Hyundai Motor Group has reportedly halved its R&D budgets for internal combustion engines (ICE) and is seeking to fully electrify its vehicle range by 2040.Impending Euro 7 emissions regulations are forcing the hands of many car-makers, with reports that the new legislation could kill off petrol and diesel engines from EU marketplaces by 2026, sending shockwaves through the automotive industry. And now Reuters reports that Hyundai Motor Group’s senior leaders – overseeing the Hyundai, Kia and Genesis brands – have approved a massive R&D spending reduction. “Hyundai has stopped developing new powertrains for internal combustion engine cars,” one of the sources close to Hyundai told Reuters. “It is an important business move, which first and foremost allows the release of R&D resources to focus on the rest: electric motors, batteries, fuel-cells.” To timeframe was given for the plan, but it comes as the Hyundai Motor Group is fast-tracking a raft of all-new electric cars for global markets, including Australia, with the likes of the Kia EV6 and Hyundai IONIQ 5.
Petrol and diesel engines are dead for many brands In January 2021, General Motors CEO Mary Barra declared that the US auto giant would completely phase out internal combustion engines by 2035 in light-duty vehicles, which includes all its cars, SUVs and most pick-up trucks. Ford has promised that by 2030 it will only sell fully electric vehicles in Europe, while Volvo has made no secret of plans kill off all its combustion engines by 2030.The new Stellantis group – covering Chrysler, RAM, Jeep, Dodge, Peugeot, Alfa Romeo, Citroen, Fiat, Opel et al – has stated that it is no longer investing in combustion engine R&D and Mercedes-Benz is also reducing ICE investment. The Volkswagen Group has invested countless billions in its new EV platforms as it continues to distance itself from the taint of dieselgate. The German car-maker wants to see half of all vehicle sales in the US to be electric by 2030, and around 70 per cent in the EU in the same time frame.

Jetty