Ford cancels eSUV, delays electric truck
US automaker Ford Motor updated its electric vehicle (EV) strategy, canceling its planned three-row electric SUV and delaying the production of a next-generation all-electric pickup truck until 2027.
The three-row SUV had already been delayed to 2027, but with its cancellation, Ford will now pivot to producing new gas and hybrid-powered three-row SUVs, the company said today.
This decision could potentially cost the company $1.5bn in expenses, including a special non-cash charge of $400mn. The automaker will reduce its EV spending from 40pc to 30pc of its annual capital expenditures.
The next-generation electric truck, known as Project T3, will be delayed, with production now scheduled for the second half of 2027 instead of 2025. Despite the 18-month delay, Ford's Tennessee EV facility will still assemble the vehicle.
Ford will also prioritize a new commercial EV van that will begin production at its Ohio plant in 2026. Additionally, the company is working on a more affordable EV in one of its skunkworks labs in Irvine, California. This project will produce a medium-sized pickup truck.
These shifts come after slower than expected EV adoption and difficulties in making EVs profitable. Ford reported significant costs related to ramping up EV production as industry sales growth slows. Ford disclosed that it expects its EV business to lose between $5bn-5.5bn for the year.
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China's EV charging infrastructure expands in August
China's EV charging infrastructure expands in August
Beijing, 11 September (Argus) — China's electric vehicle (EV) charging infrastructure continued to grow in August, data from the country's Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA) show. China added 2.4mn EV charging points during the January-August period, a 20.3pc increase from a year earlier. This includes 537,000 public charging points and 1.86mn private ones, representing year-on-year increases of 13pc and 23pc, respectively. Newly-added charging points increased by 44pc on the year to 54,000 in August alone. China had a total of nearly 11mn charging points as of the end of August, up by 53pc from a year ago, EVPCIA data show. This indicates that on average, there is one charging point for every 2.6 units of EVs. The country's new energy vehicle (NEV) production totalled 7.008mn units over January-August , up by 29pc from a year earlier, with sales rising by 31pc to 7.037mn over the same period, according to industry data. The NEV penetration rose to 44.8pc in August from 31.6pc in the full year of 2023. Most charging infrastructure is concentrated in more developed provinces such as Guangdong, Zhejiang and Jiangsu, according to EVPCIA's data. Limited charging availability, especially in smaller cities and rural areas, is one of the main reasons why many potential buyers have not opted to buy an NEV. The development of charging infrastructure is expected to boost the country's NEV adoption, industry participants said. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Indian state approves chip, EV manufacturing plants
Indian state approves chip, EV manufacturing plants
London, 6 September (Argus) — The Maharashtra state cabinet in India has approved three foreign investment manufacturing projects — a $1bn semiconductor plant and two battery electric vehicle (EV) and hybrid vehicle factories. The semiconductor chip plant, a joint venture between Israel-based Tower Semiconductor and Indian industrial conglomerate Adani Group, is planned to be built in two phases. The 587.63bn rupees ($7bn) first phase will have a production capacity of 40,000 wafers/month and the Rs251.84bn second phase will add another 40,000 wafers/month, the state's deputy chief minister, Devendra Fadnavis, announced. The facility, to be located outside Mumbai, will be the second semiconductor fabrication plant in the country. The project still needs approval from the central government and Ministry of Electronics and IT, which plans to revise its semiconductor incentives. The project is designed to capitalise on the Indian government's plans to establish a domestic semiconductor manufacturing supply chain, driven by strong local demand in the electronics, EV and manufacturing sectors. Earlier this week, the Indian cabinet approved a proposal from Kaynes Semicon to set up a chip assembly, testing and packaging plant in Gujarat. The Rs33bn plant will have a capacity to handle 6mn chips/d. The governments of India and Singapore on Thursday signed an agreement to co-operate on semiconductor industry development and supply chain resilience, with an eye to Singaporean companies investing in Indian production. The two automotive plants that were also approved by Maharashtra state will be built by Skoda Auto Volkswagen India and Toyota Kirloskar, which is a joint venture between Japan's Toyota Motor and local firm Kirloskar Systems. The Rs150bn Skoda facility in the city of Pune will produce battery electric and hybrid cars. The company already has plants in Pune and Chhatrapati Sambhaji Nagar (previously named Aurangabad), which produce 180,000 cars and 60,000 cars, respectively. The Rs212.73bn Toyota plant will be built in Chhatrapati Sambhaji Nagar and will manufacture battery EVs, hybrids, plug-in hybrids and fuel cell vehicles. The announcement comes after the company signed an initial agreement with the Government of Maharashtra in July to explore setting up a new manufacturing plant in the city. The company operates two automotive plants in Bidadi in the state of Karnataka with an annual installed capacity of 3.42mn vehicles/yr and plans to build a third plant in the town to start operations in 2026 with a capacity of 1mn units/yr. The new plants reflect Toyota Kirloskar's growing product portfolio at it expands into EV manufacturing, rising consumer demand and an increase in exports, the company said. By Nicole Willing Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Japan approves $2.4bn for EV battery projects
Japan approves $2.4bn for EV battery projects
Tokyo, 6 September (Argus) — The Japanese government has approved to fund a maximum of ¥347.9bn ($2.4bn) for electric vehicle (EV) battery investments, in a bid to build out 150 GWh/yr of domestic output capacity by 2030. A total of 12 projects will be subsidised, according to the ministry of trade and industry (Meti) on 6 September. This includes lithium-ion (Li-ion) battery cell production by a consortium of battery producer Panasonic and auto manufacturer Subaru ( see table ). Around ¥326bn will be allocated for Li-ion battery production, including lithium iron phosphate (LFP) batteries. Some ¥17bn for raw material production, such as electrolyte and ¥5bn for manufacturing equipment, will be financed, Meti said. The funding is part of Meti's wider battery strategy that aims to build out 150 GWh/yr of battery production capacity domestically by 2030. The projects being subsidised are expected to lift total capacity to 120 GWh/yr from 85 GWh/yr currently once they begin operations, a Meti official said. To achieve 150 GWh/yr target, the country needs to secure 100,000 t/yr of lithium, 90,000 t/yr of nickel, 150,000 t/yr of graphite, 20,000 t/yr of cobalt and 20,000 t/yr of manganese, according to Meti. The battery strategy is part of pricing policy across industries based on Japan's Green Transformation Initiative, a policy to promote decarbonisation. Japan by 2030 aims to set a battery pack price for EVs at ¥10,000/kWh or less to make EV prices competitive with gasoline cars, and for storage batteries for industrial facilities at ¥60,000/kWh. Domestic battery production will be an essential factor to meet those targets by reducing cost. Meti's battery strategy also aims to reduce foreign dependency for the battery supply chain, in line with the country's economic security law that designated batteries a critical resource in December 2022. By Yusuke Maekawa Japan EV battery projects with subsidy Project owner Product Capacity (GWh/yr) **** Project cost (¥bn) Government funds (¥bn) Expected year to start supplying Panasonic/Subaru lithium-ion battery cell 16.0 463.0 156.4 Aug '28 Panasonic/Mazda lithium-ion battery cell 6.5 83.3 28.3 July '25 Nissan LFP (lithium-iron phosphate) 5.0 153.3 55.7 July '28 Toyota/PPES*/PEVE** Next generation battery/ASSB*** 9/n.a 245.0 85.6 Nov '26 Nippon Shokubai Electrolyte 21.4 37.5 12.5 July '28 Toagosei Binder 142.0 3.8 1.3 Oct '26 artience/Toyocolor a) Conductive agents, b)carbon nano-tube a) for cathode 40, for anode 17, b) 120 8.8 2.9 a) Dec '27 (cathode), Sep '26 (anode), b) Jan '27 Kaga Explosion-proof cover cap 3.1 0.6 0.2 Oct '25 Ricoh/Seibu Giken Battery manufacturing equipment 3.0 4.7 2.3 Sep '27 Kyoto Seisakusho Battery manufacturing equipment 21.0 5.4 1.9 Jul '26 Soft Energy Controls Battery manufacturing equipment 18.0 0.8 0.4 Apr '25 Marui Sangyo Battery manufacturing equipment 8.0 0.8 0.4 Apr '26 * PEVE=Primearth EV Energy **PPES=Prime Planet Energy & Solutions *** All-solid-state-battery **** battery equivalent for raw material and battery manufacturing equipment Source: Meti Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Sims’ Queens shred feed barge activity halted
Sims’ Queens shred feed barge activity halted
Houston, 5 September (Argus) — Global metal recycler Sims' shred feed barge activity has been halted by the US Coast Guard at its Long Island City, New York, recycling facility following a fire last week. The Australian-headquartered recycler suffered a fire on one of its barges moored at its facility in Queens on 27 August, which was caused by a lithium-ion battery, according to the New York City Fire Department (FDNY). Following the incident, the US Coast Guard ordered a cease order on all activity of Sims' barges that contain shred feed. Sims told Argus that it is working closely with both departments to ensure it has the highest inspection and receiving standards and will look to resume normal business activity as soon as possible. Purchasing and barge transit of all other grades of metal will continue in the meantime, the company added. Rechargeable lithium-ion batteries pose a significant fire risk and are becoming more common in the recycling stream due to higher usage in consumer goods. Sims said it removes every battery it can find in its scrap, but is working with the Recycled Metals Association (ReMA) — formerly the Institute of Scrap Recycling Industries (ISRI) — to seek regulatory support and public cooperation in the proper disposal of the batteries for industry-wide issue. FDNY commissioner Robert Tucker warned about the dangers of lithium-ion batteries in a public information briefing after the event in Long Island City and a separate fire in Brooklyn within a 48-hour window. There have been 171 fires, 59 injuries and three deaths caused by lithium-ion batteries in New York City in 2024, down from 2023, the FDNY said. In 2023, 60pc of fires caused by lithium-ion batteries were caused by batteries that were not charging. A report from National Waste and Recycling Association and Resource Recycling Systems in January estimated more than 5,000 fires occur annually at recycling facilities and warned that these fires are increasingly being linked to lithium-ion batteries. Every day, material recycling facilities receive dozens of lithium-ion batteries due to public misconception on proper disposal, the report said, and as usage of the battery grows so will the risk of fire, it warned. By Corey Aunger Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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