A Global Drive Through the Electric Revolution
Dear readers,
In Xizang, China, the number of new energy vehicles (NEVs) has surpassed 10,000 units, reflecting a strong push towards green transportation, with significant infrastructure and market expansions underway.
In Beijing, an entrepreneur found success by launching electric bike tours, a business that evolved from traditional tour guiding and survived the challenges of the COVID-19 pandemic.
China’s NEV industry has seen substantial growth in production and sales, driven by advancements in battery technology and smart vehicle adoption, though it faces challenges from intense domestic competition and international market complexities.
In India, Ola Electric’s IPO was heavily oversubscribed, highlighting strong investor interest despite concerns over rising costs and profitability.
Amazon Japan is investing significantly in last-mile delivery services to address logistics challenges and reduce redeliveries, a move that includes expanding parcel locker networks and increasing the number of drivers.
In South Korea, concerns over electric vehicle fires in underground parking lots have prompted the government to announce upcoming safety measures. The planned initiatives include enhancing fire suppression equipment and reviewing existing regulations to ensure better prevention and response to such incidents.
Taiwan's smart parking initiatives are expanding, with new systems being implemented to improve parking efficiency and safety.
Vietnam is actively researching incentives for the development of electric vehicle charging stations, focussing on land use, tax benefits, and integrating these stations into urban planning. The government aims to shift from consumer subsidies to infrastructure support to foster the growth of electric mobility, with significant investments needed to meet future demand.
In Germany, electric vehicle sales plummeted due to reduced government incentives, causing a shift back to traditional vehicles and prompting concerns about meeting EU emissions targets.
In China, Tesla is recalling over 1.68 million vehicles due to a safety issue involving the front trunk latch, which could potentially open while driving, posing serious risks.
Jürgen Germeys
China
China Daily | English | News
By the end of June, the number of new energy vehicles (NEVs) owned by individuals in the Xizang autonomous region exceeded 10,000 units, marking a significant achievement in promoting green vehicles. According to the 2023 Environmental Bulletin, 85.3 percent of buses in the region are NEVs, and the proportion of non-fossil energy sources in total consumption has surpassed 50 percent, leading the nation. From January to June 2023, 63,222 new motor vehicles were registered, reflecting a 4.6 percent year-on-year increase, with NEVs accounting for 4,682 registrations, a 263 percent increase compared to the previous year. The market share of NEVs in Xizang rose from 2.3 percent in 2021 to 24.4 percent currently, with all top-selling vehicle models being NEVs. NEVs manufactured in China are also expanding in foreign markets, with 4,867 exported to Nepal from Tibetan ports last year and 1,623 in the first quarter of this year, a sixfold increase from the previous year. In response to the growing NEV market, sellers are enhancing after-sales services and expanding charging infrastructure. Tesla has established eight supercharging stations and 15 destination charging stations across 10 cities in Xizang to support electric vehicle owners.
China Daily | English | News
Dou Junjie is a co-founder of a travel agency that offers electric bike tours in Beijing, catering to both Chinese and foreign tourists. He started his career as an English-language tour guide after graduating in 2001, and launched his own business in 2015, initially developing a smartphone app for audio tours of major cities. The business thrived until the COVID-19 outbreak in 2019, which forced him to close in March 2020. After pivoting to museum tours, he faced strong competition and eventually shifted to cycling tours, finding a niche in the local tourism market. In 2023, China's optimized COVID-19 measures led to a resurgence in foreign tourists, with Dou's company starting to attract visitors from various countries. He noted a significant interest from overseas customers due to recent visa-free policies. Dou emphasised the cultural exchanges and positive interactions between tourists and locals, highlighting a memorable experience with a group of European musicians.
攻坚克难扩大新能源车优势
Guangming Daily | Local Language | News
In the first half of the year, China's new energy vehicle (NEV) industry saw significant growth, with production and sales reaching approximately 4.929 million and 4.944 million units, marking year-on-year increases of 30.1% and 32%, respectively. The market share of NEVs hit 41.1%. Advances in battery technologies have reduced range anxiety, with average ranges for pure electric models reaching about 500 kilometers. The dual-mode hybrid system has achieved a range of up to 2,000 kilometers. The adoption of intelligent networked vehicles is accelerating, with pilot programs launched in 20 cities, facilitating real-world applications like driverless taxis. Furthermore, the development of battery swap infrastructure is advancing, offering flexibility and efficiency over traditional charging methods, though high initial costs remain a challenge. Despite a steady increase in foreign exports, with 605,000 NEVs exported, the industry faces obstacles, including intensified domestic competition and complex international market conditions with raised tariffs from the U.S. and Europe. Overall, while the NEV sector shows rapid growth and innovation, it must navigate increasing competition and potential market disruptions to ensure sustainable development.
India
Deccan Herald | English | News
Ola Electric's IPO, worth $734 million, attracted bids totaling $1.8 billion as it closed on Tuesday, marking a significant entry for India's first electric vehicle maker's public offering. The company's shares saw bids of around 1.99 billion, approximately 4.3 times the shares available. Institutional investors oversubscribed their portion 5.3 times, while retail investors bid 3.9 times. Despite leading the e-scooter market with a 46% share, Ola Electric faces scrutiny over rising costs and profitability strategies. The firm plans to allocate $150 million from the IPO proceeds to its battery cell manufacturing unit. The anticipated valuation is around $4 billion, about 25% lower than in its last funding round due to global tech valuation corrections. The company's losses increased by 8% in the year ending March 2024, despite significant revenue growth, attributing the losses to rising raw material costs. Additionally, recent decline in global equity markets has impacted overall investor sentiment.
Deal Street Asia | English | News
Ola Electric's IPO attracted $1.8 billion in bids, closing on Tuesday as India's first pure-play electric vehicle maker's share sale. The $734 million offering is India's largest IPO this year, with bids for 1.99 billion shares, 4.3 times the number available. The IPO allows investors to support Prime Minister Narendra Modi's clean energy initiatives, aiming for a valuation around $4 billion, about 25% lower than its previous funding round in 2023. The institutional investor portion was oversubscribed 5.3 times, while retail bids were 3.9 times oversubscribed. Ola Electric holds 46% of the e-scooter market despite cutting sales goals last year. Analysts raise concerns about rising costs and profitability challenges, as losses widened 8% in the year to March 2024 despite a 90% revenue jump. The company plans to invest $150 million of the IPO proceeds into battery cell manufacturing. The IPO's performance was lower compared to recent IPOs, and overall market sentiment was affected by a global equities sell-off.
Japan
Amazon、ラストワンマイルに250億円投資 置き配拡大
Nikkei | Local Language | News
Amazon Japan announced an investment of over 25 billion yen by 2024 to enhance its last-mile delivery services. This initiative aims to improve logistics by expanding domestic delivery bases and promoting the use of parcel lockers for drop-off deliveries. The company is addressing a shortage of delivery drivers, referred to as the "24-year problem," by developing an efficient logistics network. Amazon Japan President Jasper Chan emphasized the goal of reducing redelivery needs, benefiting both users and drivers. Additionally, the company plans to expand the number of apartments equipped with "Amazon Key" for secure home deliveries and increase the number of drivers for its "Amazon Flex" service. Amazon has previously invested hundreds of billions of yen annually in logistics and intends to boost last-mile investment further in 2024.
South Korea
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Newsis | Local Language | News
Concerns about fires in electric vehicle (EV) underground parking lots are increasing following a fire incident in Incheon where a Mercedes-Benz electric car ignited, damaging around 140 vehicles and leading to resident evacuations. The South Korean government plans to announce fire prevention measures in early September, focusing on expanding fire suppression equipment and reviewing existing firefighting regulations. The National Fire Agency aims to reinforce equipment such as fire extinguishing covers, portable water tanks, and radiation devices. Current regulations on sprinklers and EV charger installations will be evaluated, especially given the ineffective operation of sprinklers during the Incheon fire. Furthermore, the government is considering introducing additional safety subsidies for EV batteries and charging facilities. While suggestions to restrict EV parking in basements are being made, authorities note the impracticality of such measures due to limited ground parking options in new apartments.
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ZD Net Korea | Local Language | News
The electric vehicle battery market has seen growth in the first half of the year, but domestic companies' market share has slightly decreased due to competition from Chinese firms like CATL. According to SNE Research, LG Energy Solution, SK On, and Samsung SDI experienced growth in battery usage compared to the previous year, with Samsung SDI recording the highest growth rate of 17.4%. Despite this growth, the combined market share of the three companies fell to 22.1%, down 3.0 percentage points from last year. Samsung SDI's battery usage was bolstered by strong sales in Europe and North America, particularly from BMW and Rivian. The company plans to expand its battery supply in the Americas and ramp up production of new battery types. SK On's growth was supported by recovering sales of Hyundai Motor Group's IONIQ models and strong performance from Ford and Mercedes vehicles equipped with their batteries. The company anticipates increased demand due to stabilizing metal prices and new customer lineups. LG Energy Solution maintained solid sales from popular vehicles, particularly Tesla’s Model 3 and Model Y, and has begun delivering new models equipped with batteries from a recent joint venture. Panasonic, ranked 7th globally, faced a 25.1% decline in battery usage, primarily attributed to slowed sales from Tesla Model 3, but expects recovery with new cell releases. CATL remains the global leader in battery usage, achieving a 29.5% growth rate, while BYD ranks second with a 22.0% growth rate. Both companies are focused on expanding their market presence, especially in the face of increasing competition.
领英推荐
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Newsis | Local Language | News
Hyundai Motor Company is establishing an electric vehicle and battery module factory in Thailand, marking its challenge to Japan's dominance in the Thai automobile market. The investment plan, approved by Thailand's Board of Investment (BOI), involves an investment of 1 billion baht (approximately 38.7 billion won) to construct the facility near Bangkok, scheduled to commence operations in early 2026. Hyundai is collaborating with local firms Thonburi Automotive and Thonburi Energy Storage. The move is driven by the significant growth potential of Thailand's electric vehicle market, which represents 55% of electric vehicle sales in Southeast Asia as of early 2023. The new plant is expected to enhance Hyundai's market presence, competing against established brands like Toyota and Honda, and emerging Chinese companies such as BYD and Great Wall Motors. Additionally, Tesla has reportedly withdrawn its plans to open a factory in Thailand, opting to focus solely on charging station development.
Joongang Ilbo | English | News
Hyundai Motor's new Casper Electric mini SUV features advanced safety technologies, including the Pedal Misapplication Safety Assist (PMSA), which prevents accidental acceleration by detecting nearby objects and automatically limiting power output or applying brakes when needed. The vehicle has an estimated range of 315 kilometers (195 miles) and is equipped with a 49 kWh nickel-cobalt-manganese battery. The Casper Electric also includes modern enhancements such as a 10.25-inch digital infotainment screen, highway driving assistance, blind-spot monitoring, and improved ride quality to reduce vibration and noise. The SUV is priced at 31.5 million won ($22,900), with potential subsidies bringing the cost down to around 20 million won.
Taiwan
竹縣政七街增智慧停車柱 8/16啟用提升收費效率
Central News Agency | Local Language | News
On August 16, Zhuxian County launched an additional 26 smart parking columns on County Government 7th Street, complementing the 26 already in place on 8th Street. This initiative aims to enhance parking charging efficiency, which has increased by approximately 30% compared to traditional manual toll collection since the smart parking system was introduced last year. The Traffic and Tourism Department plans to extend the smart parking service to all township and city offices. Additionally, plans are underway for Zhudong Town Office to install smart parking systems for 1,005 roadside parking spaces, while Zhubei City Office is required to set up 500 smart parking posts for about 5,000 roadside parking spaces to ensure timely charging.
德國 7 月電動車銷量下降近 37%，更多消費者選擇傳統動力車款
The Storm Media | Local Language | News
In July 2024, electric vehicle (EV) sales in Germany dropped by nearly 37%, attributed primarily to the government's significant reduction in incentives for EV purchases. Consequently, the share of electric vehicles in the market decreased from 20% to 12.9% within a year. The German Federal Motor Transport Authority reported 238,263 new passenger car registrations in July, including 30,762 electric vehicles. Analysts noted that the decrease in subsidies has increased EV prices and contributed to a lack of affordable options. This slowdown is prompting automakers to reconsider their plans, with the potential to impact compliance with the EU's emissions regulations. UBS analyst Patrick Hummel warned that Volkswagen's profits could drop by 2 billion euros next year due to declining EV demand, leading to delays in battery production and output cuts at EV plants.
逾168萬輛！特斯拉在中國大規模召回電動車
Liberty Times Net | Local Language | News
Tesla has initiated a recall of over 1.68 million vehicles in China, which includes both imported and domestically produced models. This recall covers certain Model S and Model 3 vehicles. The issue involves the front trunk latch assembly system, which may fail to detect when the front trunk lid is unlocked, potentially allowing it to open while the vehicle is in motion, thereby compromising driver visibility and safety. Tesla plans to address this by utilizing over-the-air (OTA) updates to correct the latch issue at no cost to customers. Additionally, free repairs will be offered for any vehicles identified with faulty latches, with affected owners being contacted through Tesla service centers.
碰撞風險！特斯拉在中國召回逾168萬輛電動車，前行李廂蓋行駛時恐掀開
The Storm Media | Local Language | News
Tesla China announced a recall of 1,683,627 electric vehicles due to a potential issue where the front trunk lid may open while driving, increasing the risk of collision. The recall affects all models and is attributed to a fault in the front trunk latch assembly that may fail to confirm if the trunk lid is unlocked. This could obstruct the driver's vision, posing safety hazards. Tesla will provide a remote software upgrade to notify drivers of the issue, and faulty latches will be repaired at no cost. For vehicles unable to be updated remotely, Tesla will contact owners to implement the recall. This marks Tesla China's largest recall to date, surpassing a previous recall of over 1.61 million vehicles in January for a different safety issue.
竹北試辦智慧交通共桿 行人過馬路就會亮燈警示駕駛
United Daily News | Local Language | News
Zhubei City in Hsinchu County is piloting a "smart traffic shared pole" initiative to enhance pedestrian safety at the intersection of Jiafeng 11th Road and Fuxing 3rd Road. This system uses "human-shaped detection electric eyes" on existing light poles to illuminate warnings to drivers when pedestrians are crossing, aiming to address A-pillar blind spots. The project, a collaboration between Zhiyu Biomedical and the municipal government, employs Internet of Things technology to improve traffic safety. The city plans to expand the project based on its effectiveness and encourages private enterprises to participate in future experiments to foster smart public infrastructure development.
竹北市推動智慧交通共桿 提醒車輛注意行人
Central News Agency | Local Language | News
The Zhubei City Government has partnered with Zhiyu Biomedical to enhance pedestrian safety by installing smart traffic common poles at the intersection of Jiafeng 11th Road and Fuxing 3rd Road. These poles utilize humanoid detection technology to alert drivers when pedestrians are crossing. Mayor Zheng Chaofang emphasized that the initiative aims to create a traffic-friendly environment by integrating technology into existing infrastructure, minimizing the need for additional poles. The focus is on improving pedestrian right of way and addressing driver blind spots to reduce accidents. The city has a population of 220,000 and is actively working to ensure safe walking and driving conditions.
Vietnam
Nghiên c?u ?u ??i ??t, thu? cho nhà ??u t? tr?m s?c xe ?i?n
VN Express | Local Language | News
On August 6, Deputy Prime Minister Tran Hong Ha urged the Ministry of Transport and other agencies to propose policies that promote electric vehicles and green fuel usage. He tasked the Ministry of Construction with guiding localities to incorporate charging stations in urban planning. Investment support policies for land, planning, and taxes for charging stations were highlighted as necessary. The Ministry of Industry and Trade was asked to expedite the development of a pricing mechanism for electricity at these stations, aimed at supporting electric vehicle users. A draft Law on Urban and Rural Planning, which includes provisions for charging stations, is expected to be submitted for approval before 2026. The government aims to transition from consumer subsidies for electric vehicles to infrastructure development for charging stations. Existing government incentives include a reduced special consumption tax on battery-powered electric vehicles until February 2027. While Vietnam has approximately 150,000 electric vehicle charging ports, their distribution is limited, mostly found in residential and commercial areas, with few on highways. HSBC estimates that Vietnam will require about $12.3 billion and 14 terawatt-hours of cumulative energy by 2040 to develop sufficient charging infrastructure and renewable energy sources for electric vehicles.
Nghiên c?u ?u ??i ??t ?ai, thu? phí cho nhà ??u t? tr?m s?c xe ?i?n
Dantri | Local Language | News
On August 6, Deputy Prime Minister Tran Hong Ha led a meeting to discuss the implementation of green transportation and electric vehicle charging station development policies. Deputy Minister of Transport Le Anh Tuan reported on efforts to promote electric vehicles and related infrastructure, while Deputy Minister of Planning and Investment Do Thanh Trung emphasized the need to integrate electric charging stations into urban and rural planning. The Ministry of Construction has included this in the draft Law on Urban and Rural Planning, with the goal of submission before 2026. There was a consensus on establishing electricity pricing plans for charging stations and technical standards for installation. Deputy Prime Minister Hong Ha stressed the need for a clear roadmap for implementing these initiatives, urging the Ministry of Transport to report on progress and propose supportive policies for investors in electric charging stations regarding land, planning, taxes, and fees. Additionally, the Ministry of Industry and Trade was tasked with creating a pricing mechanism for electricity used at charging stations that directly benefits electric vehicle users.
Hyundai ??u t? 28 tri?u USD vào Thái Lan ?? l?p ráp xe ?i?n, pin
VTV News | Local Language | News
Hyundai has invested $28 million in Thailand to assemble electric vehicles and batteries. According to Counterpoint Research, Thailand is the largest auto manufacturing hub in the region, accounting for 55% of Southeast Asia's electric vehicle sales in the first quarter. The investment will lead to the establishment of a factory southeast of Bangkok, with production expected to start in 2026. The Board of Investment (BOI) indicated that Hyundai will be able to source at least one-third of the necessary raw materials and parts locally, leveraging Thailand's strong supply chain. The electric vehicle market in Southeast Asia is rapidly growing, with Chinese automakers like BYD and Great Wall Motors gaining significant market presence.