logo
Power Play: EU Courts Chinese Battery Manufacturers

Power Play: EU Courts Chinese Battery Manufacturers

Bloomberg09-04-2025

The European Union's battery manufacturing sector has been struggling to stay competitive. In the face of supply chain concerns, technological barriers and record-low prices fueled by the global oversupply of battery packs, existing policy has proved too light to support local producers. Yet with the introduction of the EU's new Action Plan, further policy support could be on its way, and Chinese battery giants are announcing production facilities in the bloc. Elsewhere, BYD has introduced a brand-new battery that could revolutionize the sector, with promises of rapid charging speeds and extended range for passenger EVs. On today's show, Tom Rowlands-Rees is joined by BloombergNEF energy storage analyst Andy Leach and trade and supply analyst Matthew Hales to discuss their recent notes 'Plan to Save EU Battery Making Marks Protectionist Shift' and 'Chinese Battery Makers Double Down on European Factories'.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China increases presence in Brazilian ports
China increases presence in Brazilian ports

Miami Herald

time26 minutes ago

  • Miami Herald

China increases presence in Brazilian ports

June 10 (UPI) -- China is consolidating its control over critical logistical hubs in Brazil through its state-owned enterprises. Its latest move in Latin America was the acquisition of a 70% stake in Vast Infraestructura, which operates the Port of Açu's only private transshipment terminal for very large crude carriers in Rio de Janeiro. The $714 million deal puts China Merchants Port Holdings, or CMPort, in charge of a vital asset for Brazil's energy exports, as nearly 30% of the country's crude oil passes through Açu. This marks another major move by CMPort, one of the world's largest port operators and a Chinese government-backed company. In 2018, CMPort acquired 90% of TCP Participações, which operates South America's largest container terminal at the Port of Paranaguá. Beyond these direct purchases, Chinese firms are involved in projects at the Port of Santos -- Latin America's busiest port -- as well as in the construction of a new terminal in Maranhão, in northeastern Brazil. Investments are not limited to ports, but also extend to the construction of rail infrastructure to transport grains, minerals, and other commodities to Asia. Brazil is just one focus of China's global port strategy. In Peru, the Chancay mega-port, built and operated by China, is set to become a major trade hub between South America and Asia, potentially reducing reliance on the Panama Canal. Chinese state-owned enterprises are executing a broad strategy to acquire and develop port infrastructure worldwide. "This undoubtedly increases their geopolitical influence and secures vital strategic interests. It also consolidates a stronger global maritime presence and achieves effective control over crucial sea routes," said Chile's Center for Competitive Intelligence Research and Studies. Copyright 2025 UPI News Corporation. All Rights Reserved.

EU targets Russia with sanctions, lower oil price cap
EU targets Russia with sanctions, lower oil price cap

UPI

time33 minutes ago

  • UPI

EU targets Russia with sanctions, lower oil price cap

EU Commission President Ursula von der Leyen (R) and High Representative of the European Union for Foreign Affairs and Security Policy Kaja Kallas briefed the press Monday on the 18th package of sanctions against Russia, in Brussels, Belgium. Photo by Olivier Matthys/EPA-EFE June 10 (UPI) -- The European Commission on Tuesday unveiled its latest in a series of sanctions against Russia targeting energy exports, infrastructure and finances. "Oil exports still represent one-third of Russia's government revenues," European Commission President Ursula von der Leyen said at a news conference in Brussels, Belgium. "We need to cut this source of revenues," she added. The measures aimed to put pressure on Moscow to end Russia's war in Ukraine include a proposal to lower the current $60 oil price cap to $45 per barrel and bans use of the Nord Stream pipelines between Germany and Russia. At least nine individuals and 33 companies will be slapped with asset freezes. And the EU will consider adding another 77 boats part of Russia's "shadow fleet" banned in European ports of entry, part of at least 300 other barred Russian vessels. In addition, at least 22 Russian banks will be cut off from the SWIFT international banking system and the Russian Direct Investment Fund. Von der Leyen called the sanctions "robust" and "hard-biting" and added that Russia's economy has already been bowing to past pressure. "Russia continues to bring death and destruction to Ukraine," she said Monday at the press conference with Kaja Kallas, the EU's top diplomat. "Our message is clear: This war must end." Kallas called Russia's military invasion of Ukraine "outright illegal." She said it was "clear that Russia does not want peace," adding it is "cruel, aggressive and a danger to us all." It arrived ahead of this weekend's G7 summit in Alberta, Canada where the new oil price caps will be discussed. "With this package, we step up pressure on Russia," stated von der Leyen. "Our objective is very clear: We are reiterating the call for a full, unconditional ceasefire of at least 30 days," she said.

China accuses US of violating trade truce and vows firm retaliation
China accuses US of violating trade truce and vows firm retaliation

Yahoo

timean hour ago

  • Yahoo

China accuses US of violating trade truce and vows firm retaliation

China criticised the US on Monday for 'seriously violating' a trade truce agreed in Geneva last month, an agreement that temporarily reduced steep tariffs on both sides. The Commerce Ministry denounced Washington's moves to stop the sale of chip design software to China, issuing warnings against the use of Huawei-made chips, and revoking Chinese student visas. 'We urge the US to work with China to immediately correct relevant wrong practices,' the Commerce Ministry said in a statement. 'If the US insists on its own way and continues to damage China's interests, China will continue to take resolute and forceful measures to safeguard its legitimate rights and interests.' After a breakthrough in early May, Washington lowered tariffs imposed on goods from China from 145% to 30%. Beijing's retaliatory tariffs, meanwhile, were lowered from 125% to 10%. While the deal lasts 90 days, allowing US and Chinese negotiators to reach a more substantial agreement, tensions have since been ratcheting up between the two sides. Related Volkswagen in direct talks with US government regarding tariff deal EU 'strongly regrets' Trump's announcement to double steel and aluminium tariffs to 50% Trump stoked the hostility on Friday, accusing Beijing of violating the truce, without giving details. 'So much for being Mr. NICE GUY," Trump said in a post on Truth Social. US Trade Representative Jamieson Greer later said China had not been removing non-tariff barriers, as per the agreement. He notably criticised Beijing for placing US companies on blacklists and restricting exports of rare earth magnets to the US. Both countries are in a race to develop advanced technologies such as artificial intelligence, with Washington seeking to curb China's access to the most advanced computer chips. 'Instead of reflecting on itself, it [the US] has turned the tables and unreasonably accused China of violating the consensus, which is seriously contrary to the facts,' the Commerce Ministry said in Monday's statement. This Wednesday, the US is set to double its current tariffs on steel and aluminium from 25% to 50%. Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store