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South Korea’s Yoon pledges to extend tax benefits for chip investments – ET Auto

Baua Electric

In January 2023, the government unveiled a plan to offer large tax breaks to semiconductor companies investing at home, which are set to end this year. South Korean President Yoon Suk Yeol said on Monday that he would extend tax credits on investments in the domestic semiconductor industry to boost employment and attract more talent.

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Exide Industries Q4 Results: Firm beats profit view on higher demand – ET Auto

Baua Electric

Exide’s standalone profit after tax rose 36.6% Earlier this month, South Korea’s Hyundai Motor and Kia Corp partnered with Exide Industries ‘ unit Exide Energy Solutions to supply batteries for their EVs. Exide’s standalone profit after tax rose 36.6% from a year ago to 2.84 from a year ago to 2.84

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Biden Admin. inundated with Inflation Reduction Act exemption requests

Teslarati

Japan, South Korea, France, Germany, and the EU have all requested exemptions from the Biden Administration’s “location of assembly” requirement for electric vehicle subsidies. However, the global backlash regarding EV tax incentives has been fierce. What do you think of the article?

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JSW Group to invest USD 5 bn in EV projects in eastern India – ET Auto

Baua Electric

India has still to decide whether to cut import taxes on EVs under a proposed policy for carmakers that commit to local manufacturing, something that could ease Tesla’s entry into the market, a top government official told Reuters.

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SK Innovation Q2 profit tops forecast, battery unit eyes EV demand recovery – ET Auto

Baua Electric

SK Innovation, which also owns South Korea’s top refiner SK Energy, said it expects solid refining margins to continue in the second quarter backed by firm demand. The company posted an operating profit of 625 billion won (USD 454 million) for the January-March period, versus a 375 billion won profit a year earlier. .

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Australia’s resources minister seeks investment from S.Korea, Japan – ET Auto

Baua Electric

Australia’s resources minister has begun a week long trip to South Korea and Japan to discuss gas exports and critical minerals opportunities, as its government on Monday released a “prospectus” of 52 investment ready critical minerals projects.

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U.K. based battery producer Britishvolt collapses ahead of production

Teslarati

As many companies and governments alike have rushed to establish battery production locations, many in the United Kingdom had hoped that its domestic Britishvolt battery producer would be their answer to Tesla in the United States, Northvolt in Sweden, LG in South Korea, Power Co. What do you think of the article?