Latest news with #EVIndustry
Bloomberg
a day ago
- Automotive
- Bloomberg
BYD Unleashes an EV Industry Reckoning That Alarms Beijing
The price war engulfing China's electric vehicle industry has sent share prices tumbling and prompted an unusual level of intervention from Beijing. The shakeout may just be getting started. For all the Chinese government's efforts to prevent price cuts by market leader BYD Co. from turning into a vicious spiral, analysts say a combination of weaker demand and extreme overcapacity will slice into profits at the strongest brands and force feebler competitors to fold. Even after the number of EV makers starting shrinking for the first time last year, the industry is still using less than half its production capacity.
CBC
13-05-2025
- Automotive
- CBC
Ford speaks after Honda postpones plans for EV plant in Ontario
Premier Doug Ford is set to speak at 9:45 a.m. ET Tuesday along with several other Ontario ministers. This comes just hours after Honda announced it would put on hold a plan to build a major electric vehicle supply chain in Ontario.
South China Morning Post
12-05-2025
- Automotive
- South China Morning Post
India's EV drive risks stalling as China tightens grip on rare earth exports
India 's fast-growing electric vehicle industry is facing renewed uncertainty after China , the global leader in EV components and rare earth processing, imposed stringent export controls on critical minerals – a move analysts say exposes the South Asian nation's deep reliance on Chinese supply chains and could derail its clean energy ambitions. Advertisement The restrictions, announced in early April by China's Ministry of Commerce, target seven rare earth elements – samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. These minerals, vital for technologies ranging from electric motors to renewable energy systems and military-grade chipmaking, now require special export licences for shipment out of China. China's decision, widely seen as a response to US tariffs, adds a new layer to global geopolitical tensions, while highlighting the strategic importance of rare earths in the 21st century. Experts say rare earths could prove as transformative today as fossil fuels were in previous centuries for Western powers. China dominates the rare earth market, controlling 63 per cent of global mining and 90 per cent of processing output. The fallout from its restrictions is expected to hit India's fledgling EV industry hard, with disruptions in supply chains and rising costs. Heavy machinery works a rare earth mine in central China's Jiangxi province. Photo: AP India's EV market, though growing rapidly, is still dwarfed by China's. Despite possessing an estimated 6.9 million tonnes of rare earth reserves, India remains reliant on Chinese imports due to underdeveloped domestic extraction and processing capabilities. China's advanced refining infrastructure and efficient supply chains have kept India dependent on these critical imports.
