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Thailand’s EV industry growing rapidly

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The Thailand Board of Investment announced that Thailand has received more foreign direct investment supporting the country’s growing electric vehicle production ecosystem. With a population of more than 645 million consumers in ASEAN alone, the EV industry is projected to grow more as demand across the rest of Asia increases.

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SEMI forecasts global chip industry to invest >$500B in new factories by 2024; automotive and HPC

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The worldwide semiconductor industry is projected to invest more than $500 billion in 84 volume chipmaking facilities starting construction from 2021 to 2023, with segments including automotive and high-performance computing (HPC) fueling the spending increases, SEMI announced in its latest quarterly World Fab Forecast report.

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LR and partners launch Silk Alliance to develop Green Corridor Cluster beginning with intra-Asia container trade

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Initiated by the Lloyd’s Register Maritime Decarbonization Hub, The Silk Alliance brings together a diverse group of organizations whose collaboration can advance the decarbonization of the maritime industry. These include shipowners, such as MSC Shipmanagement Ltd.,

Asia 186
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Evonik investing in fumed aluminum oxide production plant expansion in Japan for battery applications

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Evonik is investing in a production plant expansion for fumed aluminum oxide at its site in Yokkaichi, Japan. The facility will be the company’s first alumina plant in Asia, focusing on the production of specialty solutions for lithium-ion battery technologies, used for electric vehicles.

Japan 243
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Vancouver-based Ceylon Graphite granted industrial mining licence for M1 mining project in Sri Lanka

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announced the renewal of the Industrial Mining Licence for the Malsiripura, M1 mining project in Sri Lanka (known as Ceylon until 1972) from the Geological Survey and Mines Bureau (GSMB). Vancouver-based Ceylon Graphite Corp. The Licence grants exclusive rights to mine graphite from within the M1 mining area.

Sri Lanka 417
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EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia

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EIA projects most of this growth will come from regions where the consumption of energy is driven by strong economic growth, particularly in non-OECD Asia. Other significant findings of IEO2019 include: Manufacturing centers are shifting toward Africa and South Asia, especially India, resulting in energy consumption growth in those regions.

Asia 220
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Volvo Trucks starts series production of heavy-duty electric trucks

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Volvo Trucks is beginning series production of the electric versions of the company’s most important product range, its heavy-duty trucks: Volvo FH, Volvo FM and Volvo FMX. With these new additions, Volvo Trucks has six electric truck models in series production globally—the broadest electric truck line up in the industry.

Volvo 259