Advances in Electric Vehicles and Green Energy Initiatives
Dear readers,
China’s annual production of new energy vehicles (NEVs) has surpassed 10 million units for the first time, marking significant progress in carbon reduction efforts.
CATL, the world’s largest battery manufacturer, is diversifying into power grids and EV platforms to expand its green energy footprint.
The Beijing-Tianjin-Hebei region has established a new association to boost the NEV industry, involving key automakers like BAIC and Xiaomi Auto.
Volkswagen is bolstering its partnership with Rivian through an $800 million investment, addressing challenges in the U.S. EV market.
In the Philippines, ChargeEuropa is partnering with Movem Electric to introduce European EV charging technology.
Kia has agreed to supply its PV5 electric cargo vehicles to DHL Korea starting in 2026.
China’s BYD is preparing to enter the South Korean passenger car market in 2025, targeting affordable EV segments amid domestic challenges like declining demand and safety concerns.
Mercedes-Benz has introduced the all-electric G-Class SUV in South Korea, showcasing robust off-road capabilities with advanced traction technology.
Taiwan’s Dayun Optoelectronics is set to go public in December to expand its smart networking market presence.
Vietnam’s VinFast has secured significant funding from Vingroup and its CEO, Pham Nhat Vuong, totalling 85 trillion VND ($3.35 billion).
Jürgen Germeys
China
China Org Cn | English | News
China's annual production of new energy vehicles (NEVs) has exceeded 10 million units for the first time, supporting global carbon reduction initiatives. This milestone was celebrated in Wuhan, Hubei Province, during a ceremony organized by the China Association of Automobile Manufacturers.
Deal Street Asia | English | News
Robin Zeng, founder of CATL, is shifting the world's largest battery manufacturer towards becoming a green-energy provider, aimed at reducing costs in electric vehicle (EV) development. He believes the market for zero carbon electric grids could surpass the current EV battery market, where CATL commands a 37% global share. The company plans to create independent energy systems for major facilities and cities, alongside an integrated electric car platform to streamline customer customisation.
China Daily | English | News
The Zhongguancun Beijing-Tianjin-Hebei New Energy Vehicle Collaborative Development Promotion Association has been established in Beijing to foster the new energy vehicle industry. Comprised of 63 members, including BAIC Group, Xiaomi Auto, Li Auto, and Great Wall Motors, the initiative gains support from government bodies across Beijing, Tianjin, and Hebei.
India
The Economic Times | English | News
Volkswagen AG is increasing its investment in Rivian Automotive Inc. by $800 million, solidifying their partnership amid declining electric vehicle demand and potential shifts in U.S. policy. The two companies have appointed leaders for their joint venture and revealed a prototype electric vehicle, addressing concerns about Rivian's financial viability while providing Volkswagen access to Rivian's software expertise.
Philippines
Inquirer Net | English | News
ChargeEuropa, a Poland-based infrastructure firm, is entering the Philippine market by partnering with Movem Electric, Inc., a subsidiary of Manila Electric Co. (Meralco). This collaboration will facilitate the rollout of electric vehicle (EV) charging stations nationwide, marking ChargeEuropa’s expansion beyond Europe.
South Korea
Yonhap | English | News
Kia Corp. has reached a tentative agreement with DHL Korea Ltd. to supply mid-sized electric cargo vehicles, the PV5, beginning in 2026. A memorandum of understanding was signed on November 13, 2024. The PV5 marks the first model in Kia's electric purpose built vehicle (PBV) lineup, specifically designed for logistics.
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Joongang Ilbo | Local Language | News
China's BYD is entering the South Korean passenger car market by early 2025, signalling a shift in the local automotive scene amid a decline in domestic electric vehicle sales due to stagnating demand and fire incidents. The company is currently working on establishing sales networks, hiring staff, obtaining vehicle certifications, and developing marketing strategies.
Korea Times | English | News
BYD Korea plans to launch electric sedans early next year to expand its market presence beyond commercial vehicles, aligning with the global shift towards electric vehicles (EVs). The company has primarily focused on electric trucks and buses since 2016 and aims to attract customers with competitively priced sedans and SUVs. Expected models for Korea include the Seal sedan and the Dolphin hatchback, which starts at under 20 million won ($14,200) in China.
Joongang Ilbo | English | News
Mercedes-Benz has launched the all-electric G-Class SUV, highlighting its off-road capabilities at the AMG Experience Center in Yongin, Gyeonggi. Priced at 185 million won ($131,400), it features a four-motor system delivering 579 horsepower and enhanced traction for rugged terrains, marking the brand's entry into the electric vehicle market.
Taiwan
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Yahoo News Taiwan | Local Language | News
Dayun Optoelectronics went public in December to enhance its presence in the smart networking market, focusing on RF amplifiers, optical fiber transmission, and smart networking equipment. As the only broadband amplifier manufacturer in Asia certified by North American system manufacturers, Dayun aims to leverage its advanced technology to increase market share.
Vietnam
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24H | Local Language | News
Electric car company VinFast has secured 85 trillion VND (approximately 3.35 billion USD) in funding from Vingroup and its CEO, Pham Nhat Vuong, who is contributing 50 trillion VND (1.97 billion USD) from personal assets. This funding strategy is designed to protect both Vingroup and VinFast shareholders, while including a planned loan of 35 trillion VND from Vingroup until the end of 2026.