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T&E: two-thirds of European battery production at risk as companies weigh investing in US instead

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More than two-thirds (68%) of lithium-ion battery production planned for Europe is at risk of being delayed, scaled down or cancelled, according to new analysis by the European NGO Transport & Environment. Battery production capacity equivalent to 18 million electric cars—1.2 Europe must act or risk losing it all.

Companies 430
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

Global 448
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H2X Global secures US$57M from Verde Mobility to deliver on US$300M in fuel cell vehicle orders

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Australia-based hydrogen fuel cell vehicle company H2X Global recently secured a US$57-million deal with US-based firm, Verde Mobility Inc., We anticipate this will crank up our vehicle production to 25,000 units a year, and provide a sturdy financial foundation for the company. million investment into H2X.

Global 195
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Volkswagen committing $7.1B to boost product line-up, R&D, manufacturing in North America; targeting 55% BEV sales by 2030

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billion over the next five years in the North American region (NAR) (Canada, Mexico, United States) to boost its product portfolio, regional R&D and manufacturing capabilities. Scott Keogh, President and CEO, Volkswagen Group of America, Inc. Volkswagen will commit $7.1 Assembly of the ID.4 4, Volkswagen has invested more than $2.7

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Ford launches new global battery center of excellence

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Ford announced a new global battery center of excellence—called Ford Ion Park—to accelerate research and development of battery and battery cell technology, including future battery manufacturing. —Hau Thai-Tang, Ford’s chief product platform and operations officer.

Ford 334
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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 These forecasts are informed by the latest IHS Markit global economic forecast updates, which reflect a 3.0% decline in global real GDP in 2020.

2020 191
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POSCO begins construction of S Korea’s first lithium hydroxide plant

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We will enhance our global competitiveness in lithium and other mineral resources and contribute to the development of domestic industries, including the secondary battery sector, by leading the localization of materials. The subsequent production of lithium hydroxide will take place in South Korea. Earlier post.)

Argentina 369