As 2024 comes to a close, the global technology industry is looking forward to new opportunities in 2025. The rapid implementation of generative AI (GenAI) technologies has led to an influx of new applications, while the electric vehicle (EV) market is poised for significant developments in the new year.
According to Bloomberg, Beijing is set to impose new restrictions on exports of technologies related to battery component production and the processing of key metals, as global trade frictions continue to intensify.
Market consolidation looms as Taiwan's expanding electric vehicle charging sector grapples with rising operational costs and intense competition among more than 40 operators across the island. Industry experts anticipate the emergence of several dominant players, with strategic alliances shaping the market's future development.
Taiwan plans a significant expansion of its EV charging infrastructure in 2024, aiming to boost EV adoption. While industry players see the current vehicle-to-charger ratio as favorable for growth, concerns over grid stability and misaligned growth rates between EVs and charging stations linger, risking oversupply or shortages.
Following Northvolt's bankruptcy filing, Volvo is exploring new battery partnerships in South Korea to advance the construction of the NOVO Energy battery plant.
As the global energy market continues to show steady growth, Bulma Energy is focusing its efforts on three key areas- electric vehicle (EV) solutions, energy storage walls, and storage projects- to drive overall performance and profitability. According to Hung-Wei Chuang, chairperson of the company, the company is targeting double-digit growth in 2025 amid the maturing of the green energy market.
Evoasis, a prominent electric vehicle (EV) charging operator, hosted its year-end party in Taipei on December 26, showcasing its accomplishments in Taiwan's EV charging market and unveiling its roadmap for future growth to media and partners.
Xing Mobility and Japan's Eneos Corporation signed a strategic partnership memorandum in Tokyo to collaborate on immersion cooling battery systems. The partnership aims to accelerate adoption across diverse markets, leveraging Eneos's energy expertise and Xing's decade-long technical leadership in the field.
Tesla's Shanghai Megafactory in Lingang is on track for completion by the end of 2024, with production anticipated to start in the first quarter of 2025, underscoring the company's commitment to rapid expansion in energy storage manufacturing.
Xiaomi founder, chairman, and CEO Jun Lei announced on December 25, 2024, that the company's automotive division has partnered with Nio, XPeng, and Li Auto to integrate their charging networks. The collaboration will add over 10,000 charging stations to Xiaomi's charging map.
Contemporary Amperex Technology Co. Ltd. unveiled a new car chassis with an integrated battery strong enough to withstand fires or explosions from high-impact collisions.
LG Energy Solution (LGES) has secured a 7.5 GWh energy storage system (ESS) supply deal with US-based Excelsior Energy Capital, with production and delivery slated to begin in 2026. The agreement underscores LGES’s commitment to expanding its footprint in the ESS market while leveraging its energy storage solutions to manage short-term demand shifts in the electric vehicle (EV) industry.
China's battery materials sector is thriving, backed by government subsidies, low electricity costs, and cheaper labor, enabling aggressive investment. In contrast, South Korean firms, lacking comparable support, are struggling with mounting losses and potential market exits, threatening the stability of South Korea's EV supply chain.
Taiwan's Sanyang Motor (SYM) and the Industrial Technology Research Institute (ITRI) have reached a significant milestone in their joint hydrogen fuel cell motorcycle project, successfully completing a key road test.
Global automotive sales, including new energy vehicles (NEVs), are projected to underperform initial expectations in 2024, yet the market maintains an upward trajectory. Facing growing uncertainties in 2025, Taiwanese supply chain firms are leveraging diversified strategies—spanning traditional vehicles, NEVs, and global markets—to capitalize on emerging opportunities.
In a significant push to support its burgeoning electric vehicle sector, China's charging infrastructure has surged to 12.35 million charging units, with silicon carbide (SiC) becoming a crucial component in the supply chain.
The US will increase tariffs on Chinese polysilicon and silicon wafers starting January 2025, raising the rate from 25% to a staggering 50%. This move has left many companies that have established manufacturing facilities in the US feeling trapped.
CATL and Stellantis have entered a joint venture to establish a EUR4.038 billion (approx. US$4.25 billion) battery plant in Zaragoza, Spain, with each party holding a 50% stake. As reported by Yicai, this will be CATL's third large-scale production facility in Europe, further expanding its global footprint.
Jiyue Auto, the automotive startup co-founded by Baidu and Geely, is on the brink of collapse. CEO Joe Xia, in a letter to employees dated December 11, admitted the company faces severe challenges and requires urgent restructuring. Reports indicate that salary benefits for some employees have been suspended, fueling fears of widespread layoffs.
The European Union's newly imposed tariffs on Chinese electric vehicles (EVs) are sending a ripple of concern through the global auto industry. In response, BYD, the top EV manufacturer in China, has announced plans to manufacture its Dolphin and Atto 3 models in Europe by 2025, a move aligned with its global expansion strategy.
Global EV battery demand outside China increased by 12.7% from January to October 2024. South Korea's top battery makers—LG Energy Solution (LGES), SK On, and Samsung SDI—recorded growth in battery installations during this period.
PMOLED panel manufacturer RiTdisplay has been aggressively expanding into the energy storage and battery sectors in recent years. After successfully upgrading its energy business to another level, the company is now incubating a biotech venture, focusing on medical plasma wound treatment devices.
In light of the sluggish electric vehicle (EV) market and uncertainties following Donald Trump's re-election, LG Energy Solution (LGES) will acquire all shares of the battery plant jointly constructed with General Motors (GM) in Michigan. However, both parties will continue their collaboration on battery technology, focusing on the development of prismatic batteries.
The European automotive supply chain faces deepening turmoil, with industry giants like Bosch, Valeo, and Ford announcing extensive layoffs. These developments underscore the ongoing slump in market conditions and the mounting pressure on supply chain sustainability across the region.
