Volkswagen ( VLKAF ) – Get Free Report is in search of a bit of the longer term. Last month, Thomas Schaefer, the German automaker’s model supervisor, advised workers throughout a gathering at its Wolfsburg headquarters that the model is “now not aggressive. ” Related: Amazon faces backlash from users over upcoming change to Prime service In order to secure a place in the electric vehicle sector, the company that made the Beetle said it would be implementing near $11 billion in savings programs that will include a reduction in staff.
Volkswagen has additionally been investing in China, the world’s largest electrical automobile market. In July, VW signed a deal to collectively develop two new electrical automobiles for China with Chinese EV maker Xpeng ( XPEV ) – Get Free Report . As a part of the settlement, VW invested $700 million in Xpeng, taking a roughly 5% stake.
Unveiling new hatchback The firm additionally has a 75% stake in — and administration management of — JAC Motors, and owns 50% of JAC’s mum or dad firm, Anhui Jianghuai Automobile Group Holdings (JAG). The Chinese authorities owns the opposite 50% of JAG. On Dec.
27 JAC’s new model Yiwei unveiled what’s being known as the primary sodium-battery powered electrical automobile. Deliveries are scheduled to start in January. The Yiwei EV hatchback may have a cylindrical sodium-ion pack from Beijing-based HiNa Battery and undertake JAC’s Unitized Encapsulation (UE) module know-how, CarNewsChina reported.
UE is also referred to as a honeycomb design due to its look AC’s UE is much like BYD’s ( BYDDY ) – Get Free Report Blade battery, which is utilized in Toyota ( TM ) – Get Free Report , Kia, and Ford ( F ) – Get Free Report EVs, based on Electrek, and it can be in comparison with CATL’s CTP (cell-to-pack) know-how. Hina Battery was based in 2017 and launched its sodium-ion battery in the identical yr. The firm is affiliated with the Institute of Physics of the Chinese Academy of Sciences.
In April, JAC showcased a separate EV known as the Yiwei 3 on the Shanghai Auto Show. The mannequin launched in June with an LFP lithium battery, however JAC promised the sodium-ion variant would launch later. Lithium vs.
sodium Lithium is the commonest component in battery manufacturing and China controls 61% of worldwide lithium refining capability used for battery storage and electrical automobiles, the consulting agency GEP stated. Lithium costs had soared lately, however have fallen recently and will slip one other 30% in 2024, Reuters reported, as rising provide from all main producers outpaces the rise in demand from battery customers. Prices tumbled 77% this yr after Beijing slashed subsidies for electrical automobiles from January, dragging down lithium ore costs and hurting world miners’ revenue margins.
Sodium-ion batteries are thought-about a promising various to lithium-ion batteries. Sodium is greater than 500 instances extra plentiful than lithium. Sodium-ion batteries cost quicker than lithium-ion variants and have a 3 times greater lifecycle.
However, lithium-ion batteries have the next power density, enabling them to retailer extra power in a given quantity. In addition, sodium-ion batteries lack of a well-established uncooked materials provide chain and the know-how continues to be in early phases of improvement. Get unique entry to portfolio managers’ inventory picks and confirmed investing methods with Real Money Pro.
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From: businesslend
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