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Auto Industry Weekly

The automotive industry electric vehicles is experiencing a boom this week, and major car companies are joining the craze.

International news

  • German cabinet approves €58 billion environmental investment plan.
  • Japan plans to increase the power of electric vehicle charging infrastructure.
  • Indonesia announces relaxation of electric vehicle subsidy rules.

Car company news

  • Lucid plans to produce electric cars in Saudi Arabia.

Their first overseas factory is located in King Abdullah Economic City, Saudi Arabia.Their first overseas factory is located in King Abdullah Economic City, Saudi Arabia. Small-scale production of the Lucid Air electric vehicle is planned to begin in September 2023, with full construction of the factory expected to be completed in 2025.

  • All GM electric vehicles will support two-way charging by 2026.

GM plans to start offering two-way charging capabilities for its electric vehicles in 2026. This would allow electric vehicles to supply power from their batteries to other devices, such as home power backup systems, when needed. The first model to feature bi-directional charging will be the Chevrolet Silverado EV RST.

  • Hyundai Motor Group to launch more electric models in India.

South Korea’s Hyundai Motor Group plans to launch more electric vehicles from Hyundai and Kia brands in India.They plan to launch five new electric vehicles by 2032 and increase the number of charging stations to increase their market share in India.

  • JiKr cooperates with ORBIS AUTO to enter Kazakhstan.

Jikrypton Automobile has signed a cooperation agreement with ORBIS AUTO in Kazakhstan and plans to launch the luxury hunting coupe Jikrypton 001 and the new luxury all-round SUV Jikrypton X in the local market. This will help JiKrypton expand its market share.

  • Vietnamese car company VinFast gets approval to list on Nasdaq.

VinFast plans to list on Nasdaq under the ticker VFS on or after August 15.In addition, VinFast is also building a factory in North Carolina to expand its business in the US market.

 

Electric vehicles sale

  • Escalade ESCALADE IQ released

Cadillac releases the pure electric vehicle ESCALADE IQ, with a starting price expected to be US$130,000. ESCALADE IQ is equippe with a dual-motor system with a combined power of 505kW and a peak torque of 834 Nm. In Velocity Max mode, the combined power can reach 560kW and the peak torque can reach 1064 Nm.

  • Opel electric concept car Experimental official images released

Opel has released official images of its electric concept car Experimental, which will be released during the Munich Auto Show. The car is built on the Strantis BEV platform. It uses an AR projection system instead of a traditional screen inside. It also uses cameras to replace the interior and exterior rearview mirrors, and is equipped with technologies such as electric four-wheel drive and steer-by-wire.

  • Lamborghini pure electric concept car will debut in Monterey

The production version of Lamborghini’s first pure electric concept car plan to be launched in 2028, followed by a pure electric version of the Urus, possibly a GT model with a 2+2 seat layout, which may become a competition for the Ferrari Purosangue opponent.

Technology and supply chain

  • LG New Energy considering Michigan as North American headquarters.
  • Hyundai Mobis wins order for core components of Volkswagen’s electric vehicles.
  • Sunwanda’s first European power battery factory lands in Hungary.
  • Hanon Systems to invest $170 million to build factory in Tennessee.
  • Mazda patents hybrid drivetrain that may be used in sports cars.
  • South Korea’s LG Chem makes breakthrough in new battery technology.
  • VoltUp launches PowerCore 2.0 cell chemistry technology.
  • Amprius launches ultra-high-power, high-energy lithium-ion battery.
  • Rutronik launches KEMET R41B film capacitor.
  • X-MAT uses coal waste to develop anode materials.
  • University of Michigan develops new EV patented technology to prevent theft.

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