Indian Transport as a Solution (TaaS) startup aims to expand to Southeast Asia and MENA as these regions have conditions similar to India. Speaking to DIGITIMES Asia recently, Avinash Bagri, co-founder & CTO of gogoBus, explained that finding the right partners in these regions is important to the company.
South Korea-based battery startup SM Lab has successfully developed manganese and nickel materials for battery cathodes, and reportedly is to co-produce EV batteries with Volkswagen, according to Investment Bank (IB), as cited by Korean local media Aju Business Daily.
Toyota Motor Thailand has signed an agreement with Thailand's Excise Department to receive tax incentives and a subsidy for Toyota's battery electric vehicle (BEV) model bZ4X, the Bangkok Post reported on April 29. According to the department, Great Wall Motor Thailand and MG Sales Thailand have also signed such an agreement, which brings BEV taxes down from 8% to 2% until 2026 and provides a subsidy of THB70,000-150,000 to each BEV buyer. Furthermore, import duty on BEV from Japan, South Korea, and Europe will decrease to 20%, 40%, and 40% respectively.
Semiconductor consortium ISMC, a joint venture between Tower Semiconductor and Next Orbit Ventures, has announced to invest US$3 billion to set up a 65nm chip-making plant in Mysuru, Karnataka, the first and largest semiconductor fab in India, according to The Economic Times.
China, the second-largest electric vehicle(EV) market, is aggressively deploying charging infrastructure, including battery swapping stations. Multiple businesses have launched swapping services backed by government subsidies. However, challenges like lacking standardized batteries may slow down the democratization.
The South Korea-China rivalry for the dominance over electric vehicle (EV) battery production is intensifying, as companies from both camps have successively rolled out plans to build overseas factories, according to media reports.
The EV battery world is crying out for a credible plan to address the spike in battery materials prices. Lithium, for example, the price has been growing all through 2021, hitting over US$25,000 per ton by the end of last year, and now jumped to the highest at over US$40,000 per ton this month, according to Forbes.
BYD and Horizon Robotics recently announced a partnership involving Horizon's latest high-performance processor Journey 5 for autonomous driving. BYD said it will utilize the car chip in some of its cars as early as mid-2023.
South Korea's contract chipmakers SK Hynix System IC and DB HiTek last year reported robust profit growths, as 8-inch fab capacity, once neglected a few years ago, has come back to the mainstream, according to media reports.