Highlights of the month: Russia-Ukraine conflict makes automakers stay alert
Staff reporter Friday 4 March 2022
The Russia-Ukraine conflict has caused semiconductor companies to stay alert for the price hike due to the material shortage, like inert gases. The automobile industry is also devastated by the prolonged chip shortage and an imminent material shortage of palladium, used in automotive catalytic converters, and nickel, used for electric vehicles. Overall, the conflict has made production cost soaring for manufacturers in both industries. Well-known carmakers, Volkswagen and Renault SA, even face production stoppages due to Ukraine supply issues. The following are the latest EV news on editors' choice for the month.
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Plagued by supply disruptions caused by COVID-19 in recent years, the Indian consumer electronics and automobile industries have started to worry about whether the Russian-Ukraine war will benefit or harm Indian suppliers in terms of semiconductors.
Taiwan-based chipmakers have already developed their flexibility to seek alternative sources and expect the Russia-Ukraine conflict to have a limited impact on their supply chains, according to industry sources.
LG Energy Solutions (LGES) and Samsung SDI are reportedly to launch new-generation 21700 lithium-ion battery with increased energy density by 10%, which could further sharpen South Korea's edge in electric vehicle (EV) battery making, a media report said.
Industry experts are optimistic that electric cars 2022 will continue to rise. Therefore, carmakers are trying everything to secure battery stock, including leaning toward lithium-iron-phosphate (LFP) batteries and diversifying battery suppliers.
Electric vehicle (EV) adoption will keep growing in 2022 as the chip shortage persists. Carmakers have been utilizing modular platforms to push EV launches. Furthermore, electrification in Southeast Asia is on track with companies proceeding with their projects.