Xiaomi to Open Car Plant in Beijing With – Latest news headlines


Chinese smartphone giant Xiaomi will build a plant that can produce 300,000 vehicles annually in Beijing for its electric vehicle unit, authorities in the capital said on Saturday.

The plant will be constructed in two phases and Xiaomi will also built its auto unit’s headquarters, sales, and research offices in the Beijing Economic and Technological Development Zone, the government-backed economic development agency Beijing E-Town said on its official WeChat account.

Beijing E-Town said it anticipated the plant reaching mass production in 2024, a goal announced by Xiaomi’s Chief Executive Lei Jun in October.

In March, Xiaomi said it would commit to investing $10 billion (roughly Rs. 75,000 crores) in a new electric car division over 10 years. The company completed the business registration of its EV unit in late August.

The company has been opening thousands of stores to spur domestic sales growth for its smartphone business but eventually intends to use these shops as a channel for its plans to sell electric vehicles.

© Thomson Reuters 2021


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Latest News Today – Tesla’s Plans for Manufacturing Long-Range Batteries


Tesla has weathered the pandemic and supply chain crisis better than many of its rivals, achieving record deliveries last quarter. But Chief Executive Elon Musk faces pressure to deliver on breakthrough batteries and new factories and models, which are late.

Those questions, demand in China and the financial effect of a Bitcoin sell-off will be high on investors’ minds when the electric vehicle company publishes results Monday. Bitcoin price in India stood at Rs. 28.6 lakhs as of 05:30pm IST on July 26.

Last September, Musk announced an ambitious plan to produce its own battery cells with a new design and manufacturing process.

The larger, simpler-to-make batteries, in theory would have higher energy density and would extend ranges of current vehicles and let Tesla offer a $25,000 (roughly Rs. 18 lakhs) car in three years, sharpening its technology edge as rivals flood the market with EVs.

But Musk last month pushed back the debut of 4680s by cancelling the longest-range Model S Plaid+, which he had said would use the cells, sparking concern. He has said 4680s would go into volume production next year and would be used in the Model Y from the Texas factory under construction.

Now, Tesla aims to produce vehicles with 4680 batteries starting with small volume this year in as-yet-unfinalised models, two people familiar with the matter told Reuters.

One of the persons said Tesla will initially use batteries made at Tesla’s pilot production line in California, adding that they are being tested in prototype vehicles.

Tesla is also closely working with Panasonic to develop 4680 cells, he said. LG, another Tesla supplier, is working to produce 4680 battery cells for Tesla by 2023, Reuters reported earlier.

But it is not clear when Tesla will be able to mass-produce the new batteries in Texas and Berlin, and it will be able to achieve all of the ambitious goals for batteries, industry officials said.

“It has required an *immense* amount of engineering to take Maxwell’s proof-of-concept to high-quality, volume production & we’re still not quite done,” Musk said, referring to its dry battery electrode manufacturing process it is developing after acquiring Maxwell.

Tesla was not available for comments.

Model S Plaid

While rivals with larger production have regularly paused production over supply problems, Tesla has largely kept factories moving. It also cut some features and raised car prices, including a $4,000 (roughly Rs. 2.9 lakhs) hike of the long-range Model Y to $53,990 (roughly Rs. 40 lakhs) from April to late July. The move came as Tesla is bracing for a hit from its Bitcoin investments and falling sales of environmental credits to other carmakers, income sources that the company relies on to post quarterly profits.

Tesla accelerated plans to drop a radar sensor from its driver assistance system because of a chip shortage, a person familiar with the matter said, and dropped adjustable lumbar support from its passenger seat. “Not worth cost/mass for everyone when almost never used,” Musk tweeted.

“Tesla adapts very quickly to what they need,” said investor Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management.

“I just don’t see any huge catalyst, like, oh, they’re gonna blow out their numbers this quarter,” Gerber said. “We are much more bullish for Q3 than Q2,” said Gerber, expecting Tesla to ramp up production of the higher-margin Model S Plaid.

Shortly after the June launch, one of the high-end models burst into flames while the owner was driving.

China

A roller coaster ride in China raised questions of political and competitive challenges in Tesla’s second-largest market.

Tesla sales in China slumped in April amid negative publicity from consumer complaints, quality issues and regulatory pressure. Its sales rebounded in May and June, as Tesla launches quarter-end promotion campaign like loan offers, according to advertisements at showrooms.

The automaker also this month introduced a cheaper version of the Model Y in China.

“China is the linchpin to the bull thesis,” Tesla bull and Wedbush Securities analyst Daniel Ives said. “You need to see a ramp in the second half of the year,” he said.

© Thomson Reuters 2021


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Latest News Today – Elon Musk Congratulates Tesla on Producing, Delivering


Tesla CEO Elon Musk congratulated his electric vehicle-making company on building and delivering more than 200,000 cars in the April-June quarter “despite many challenges.” During the same period last year, Tesla produced about 82,000 vehicles and delivered 90,650. The release of Tesla’s second-quarter numbers suggested just how fast the once-struggling electric vehicle (EV) segment was making inroads into a market dominated by vehicles that run on fossil fuels. This also showed Tesla was quickly ramping up its production capacity to meet the rising demand as the world shifts towards cleaner energy sources.

Tesla built 206,421 vehicles and delivered 201,250 — a record for the company — despite the COVID-19 pandemic unravelling several economies and subduing the demand.

In a statement, the company praised its employees for doing an “outstanding job” in navigating the supply chain and logistics challenges, including a global shortage of semiconductors.

Tesla currently manufactures the Model S sedan and Model X SUV only at its factory in California, US, and the smaller Model 3 and Model Y at its plant in Shanghai. The bulk sales were of Model 3 and Model Y.

Tesla said their delivery count should be seen as “slightly conservative” and final numbers could vary by up to 0.5 percent or more. Nonetheless, the Q2 numbers showed a dramatic 150 percent year-on-year (YoY) improvement in Tesla’s production.

Many congratulated Musk and Tesla on achieving this feat on Twitter.

One user, @eastmeetswest82,  also thanked him for saving the green Earth.

Tesla is set to make its India entry soon. In a two-word tweet in January, Musk confirmed Tesla’s plan to open centres in the country. Responding to a tweet that said Tesla was preparing for a “robust entry” into India, a multi-billion dollar market, he said, “As promised”.






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Latest News Today – Why Ather Energy That Makes Electric Scooters in India


Ather Energy, an Indian electric scooter maker, on Friday, said that like Tesla’s Model S Plaid, they, too, could have had Cyberpunk 2077 on the dashboard, had Indian roads been a bit better. Well, let us explain. Ather’s take on Twitter, perhaps in a lighter vein, came a day after Elon Musk, the Tesla CEO, demonstrated that the new Model S Plaid was capable of running Cyberpunk 2077 on its new infotainment system matching “the level of PlayStation5”. Reacting to this, Ather tweeted: “Tesla’s Model S Plaid can run Cyberpunk 2077 on the dashboard. We could have done the same, but you’re already playing GTA when you ride on Indian roads”.

The tweet gained traction and soon many suggested what Ather could instead do on the “dashboard” of its scooter. “I’ve been asking for Netflix since ages!” wrote a user, @thescreamingdad. And he wasn’t disappointed. We mean the user got a response from the company.

“Stranger Things have happened before (and might even happen on the dashboard in the future),” Ather wrote back to the query.

“Road Rash next,” typed @jhaverinator, and the company soon replied with a query response of their own.

Another user, @a_RadicalMind, talked about the economic side of it. “The real reason: Tesla can put a 35,000/- gaming hardware on a 1,00,00,000/- car. But no one can put 35,000/- hardware on a 1,85,000/- scooter. That would be 20 percent of scooter’s price. If Ather makes a 20 lakh scooters, then the economics will work,” wrote the user.

Ather had a hilarious response ready for this user too

Following these interactions and with several other users on Twitter, Ather, in the subsequent tweet to the original one, said: “Since you folks really seem to like the idea of Ather + racing games, if this gets 500 retweets then we’ll start developing this game.”

At the time of writing, the tweet was still a long way off from getting 500 retweets, but it has led to speculation that Ather might be seriously considering entering the video game market. It will be interesting to observe Ather over the next few days now that it has almost committed to developing a video game.

Meanwhile, on Thursday night, Musk, during the demo, said that there had never been a car with the state-of-the-art computing technology, “state of the art infotainment where this is literally at the level of a PlayStation 5”.

“This is actual PlayStation 5-level performance… yes it can run Cyberpunk. It’s high frame rate, it will do 60fps with state-of-the-art games,” a report in The Verge quoted him as saying.






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Latest News Today – BMW Cooperates With Solarwatt on Home Batteries, to


Solarwatt will start selling storage batteries from this autumn in cooperation with carmaker BMW amid an ongoing convergence of renewable power and electric mobility, the German photovoltaic firm announced on Wednesday.

Under the deal, BMW will supply battery components also used in its electric vehicles for Dresden-based Solarwatt which will develop and assemble photovoltaic (PV) storage products under the brand name Battery flex in Germany to complement rooftop solar installations.

“We are delighted that, through our partnership with Solarwatt, we can make an additional positive contribution to bringing photovoltaics and electromobility closer together,” BMW executive Eric Hamm said.

As the price of battery technology has come down, it is becoming increasingly economical for householders to store surplus solar power to supply power sockets or heat water directly, rather than selling it to grid operators.

Solar power can also be used to supply heat pumps or charge electric cars, helping to reduce global warming by replacing power generated by fossil fuel.

Solarwatt is investing EUR 100 million (roughly Rs. 890 crores) up until 2025, for example on production lines and complementing Battery flex with intelligent software to manage energy flows around the house to help cut costs and raise households’ self-sufficiency.

It will also offer installations, metering, insurance, and tax advice and widen sales channels.

Solarwatt is majority-owned by Stefan Quandt, who owns nearly half of luxury carmaker BMW with his sister Susanne Klatten.

The German battery market is currently led by Solarwatt rival Sonnen, part of Shell.

German solar power supply in the first quarter 2021, at 7.24TWh, held a 5.4 percent share of total power grid volumes, Fraunhofer Institute data showed.

Solarwatt sold 16,000 PV systems last year in Germany alone and reported turnover of  EUR 120 million (roughly Rs. 1,070 crores).

© Thomson Reuters 2021


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Latest News Today – Ola Hypercharger Network Planned to Be Built in India,


Ola Electric Mobility plans to build a nationwide charging network for the electric scooters set to start rolling out from its massive Bengaluru factory this summer.

The Ola Hypercharger Network will be the world’s largest, densest two-wheeler charging system, comprising 100,000 high-speed charging points in more than 400 Indian cities, Ola said Thursday in a statement. In the first year, the startup will set up 5,000 of the points in 100 cities, doubling such infrastructure in the country. Its scooters will also be bundled with a home-charging kit.

World’s largest e-scooter factory to make EV every 2 seconds

Sufficient charging infrastructure is crucial to accelerate electric-vehicle adoption in India, which has lagged far behind China and Europe. If Ola Electric wants to sell the 10 million vehicles it plans to produce a year in the Bengaluru e-scooter factory — the world’s biggest — the startup will need to alleviate consumer anxiety about pricing, driving range, and availability of charging points.

The startup backed by SoftBank and Tiger Global Management said its system will take 18 minutes to replenish an electric-scooter battery to 50 percent charge, which will allow for a drive of 75 kilometres (47 miles). The chargers will be located in city centres, business districts, office towers, and other crowded areas. Customers will be able to pay and track charging progress via an app, said the company, which will build the system with partners.

“We are re-imagining the entire user experience of owning an electric vehicle,” Bhavish Aggarwal, Ola’s co-founder and chief executive officer, said in the statement. “By creating the world’s largest and densest two-wheeler charging network, we will dramatically accelerate customer adoption of electric vehicles.”

Ola said its scooters will be priced “aggressively” to make them affordable to buyers in India. The company also has plans to export to foreign markets.

© 2021 Bloomberg LP


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Hyundai Maintains Silence On Electric Vehicle Tieup | Sidnaz Blog


An Apple-branded car could be a big challenge to EV market leader Tesla Inc.

Seoul: South Korea’s Hyundai Motor Co said on Friday it was in early talks with Apple after a domestic broadcaster said the firms were discussing an electric car and battery tie-up, sending Hyundai shares surging 25 per cent.

The report comes weeks after Reuters reported that Apple was moving forward with self-driving car technology and was aiming to produce a passenger vehicle that could include its own breakthrough battery technology as early as 2024.

Hyundai Motor Company, established in 1967, has grown into the Hyundai Motor Group, which was ranked as the world’s fifth-largest automaker since 2007 and includes over two dozen auto-related subsidiaries and affiliates.

Hyundai Motor, which exported its first independently-made vehicle, the Pony, in 1976, now exports over one million vehicles ranging from sedans, SUVs, trucks and buses.

Earlier on Friday, Korea Economic Daily TV said the iPhone maker and Hyundai were in discussions to develop self-driving electric vehicles by 2027 and develop batteries at US factories operated by either Hyundai or its affiliate Kia Motors Corp. The broadcaster didn’t cite sources for its report.

“Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided,” Hyundai said in a statement without saying what the talks were about.

In a regulatory filing issued later, the automaker said it was “getting requests for cooperation on joint development of autonomous electric vehicles from various companies,” without identifying any of them.

Apple declined to comment.

An Apple-branded car could be a big challenge to electric vehicle (EV) market leader Tesla Inc. It remains unclear who would assemble such a car, but analysts have said they expect the company to rely on a manufacturing partner to build vehicles.

“We continue to strongly believe Apple ultimately announces an EV strategic partnership in 2021 that lays the groundwork to enter the burgeoning EV space,” Wedbush analysts said in a note.

Lower Costs

Hyundai and Apple already work together on CarPlay, Apple’s software for connecting iPhones to vehicles from a variety of automakers.

“Apple outsourcing car production to Hyundai makes sense, because (the Korean firm) is known for quality,” said Jeong Yun-woo, a former designer at Hyundai and a professor at UNIST in South Korea.

Newsbeep

“But I’m not sure whether it is a good strategy for automakers to be like the Foxconn of Apple as automakers face risks of losing control to tech firms,” he added, referring to the Taiwanese contract manufacturer’s supply contract with Apple on iPhones.

Analysts said Apple may be interested in using Hyundai’s electric car platform and facilities to cut costs to develop and make vehicles.

“Apple could see Hyundai as an ideal partner, because when it comes to legacy US automakers, they all have strong union, which Apple would like to avoid,” said Kevin Yoo, an analyst at eBEST Investment & Securities.

“Moreover, their (legacy US automakers) labour cost is much higher than that of Hyundai, which often plays a big role when it comes to car production.”

Tie-up Boost

A tie-up with Apple would be a major boost to the automaker, whose global sales last year fell more than 15 per cent as the pandemic took a toll on demand.

A long-time champion of rival hydrogen fuel cell cars, Hyundai recently increased bets on battery-powered electric cars, a move welcomed by investors eyeing the recent success of Tesla.

The South Korean company, which sources batteries from SK Innovation Co Ltd and LG Chem Ltd and others, is expected to launch its first car based on a dedicated electric car platform known as E-GMP early this year.

Hyundai does not have dedicated electric car factories in the United States and it may have to gain consent from its powerful union in South Korea were it to seek to build EVs overseas, analysts said.

Shares in Hyundai Motor jumped as much as 24.8 per cent, hitting a more than seven-year high of 255,000 won, while auto parts maker Hyundai Mobis Co Ltd jumped nearly 30 per cent. Kia shares jumped some 14 per cent.

Battery makers also gained ground, with SK Innovation up 7 per cent. The broader KOSPI market was up 2.8 per cent.



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