With electric car sales rising and regulations increasingly favoring zero-emissions vehicles, a flurry of announcements on Monday showed how the global auto industry has kicked into high gear as it races to accelerate the fossil-fuel car era. Is.
As part of its 30 billion euro (about Rs 2,62,380 crore) electrification plan stellantis – born out of the merger of PSA and Fiat Chrysler earlier this year – said it has reached a preliminary agreement with the battery maker LG Energy Solutions to produce battery cells and modules for North America, where the world’s No. 4 automaker expects more than 40 percent of its US sales to be electric vehicles (EVs) by 2030.
This follows a recent announcement that Daimler AG will take a 33 percent stake in battery cell maker Automotive Cell Company (ACC), which was founded in 2020 by Stelantis and TotalEnergies.
Carmakers are racing to secure battery supplies as they switch to electricity, with plans for dozens of new battery plants in Europe and the US.
Ford Motor’s plans to go electric in Europe got a boost on Monday as the company said it would buy GBP 230 million (approximately Rs. 2,380 crore) – engine transmission.
The No. 2 American carmaker has said that its car lineup in Europe will be fully electric by 2030.
Companies such as the Mercedes-Benz Daimler maker have warned that the shift to electric will cost jobs at combustion-engine plants, so Ford’s announcement is a boost for workers making fossil-fuel engines at its Hailwood plant near Liverpool .
With the shift to electric the automotive landscape has also changed, with a large number of startups hoping to become the next Tesla.
Indeed, Foxconn on Monday unveiled its first three EV prototypes — an SUV, a sedan, and a bus — made by Foxconn, a venture between Foxconn and Taiwanese carmaker Yulon.
It first mentioned its EV ambitions less than two years ago and has moved relatively quickly, this year announcing deals to build cars with US startup Fisker and Thailand’s energy conglomerate PTT.
The need for speed was also a reason Volkswagen AG had Tesla CEO Elon Musk Address the top executives of the German carmaker over the weekend.
Volkswagen CEO Herbert Diess has made no secret of his ambitions to chase and overtake Tesla, the world’s leading electric car maker.
But in a LinkedIn post, Dias said he invited Musk as a “surprise guest” to drive home that VW needs faster decision-making and less bureaucracy in what he called the biggest change in the company’s history. .
© Thomson Reuters 2021