Author: Mahendra PR

China has made significant strides in boosting its lithium reserves, propelling the country from sixth place to second globally. The nation’s share of the world’s lithium resources has grown from 6% to an impressive 16.5%, following a series of key discoveries throughout the country. Among the most notable findings is a large spodumene-type lithium belt stretching 2,800 kilometers across the West Kunlun-Songpan-Ganzi area. This belt alone is estimated to contain more than 6.5 million tons of confirmed spodumene, with further exploration suggesting the potential for much larger reserves. China’s salt lake lithium deposits have also seen significant growth, with new…

TuSimple Holdings announced on Thursday its rebranding to CreateAI and a strategic shift from autonomous trucking to artificial intelligence applications in gaming and animation. The decision comes as the company seeks to explore new opportunities following a period of regulatory scrutiny and operational challenges. CEO Cheng Lu stated in an interview with Reuters that the transition builds on the company’s existing AI capabilities. CreateAI plans to utilize its newly developed AI model, Ruyi, to produce and publish video game and anime content. The company’s business plan highlights the global gaming market’s estimated value of $200 billion in 2023 as a…

Countries worldwide need to accelerate their efforts in energy efficiency to meet the global 2030 targets, the International Energy Agency (IEA) said in a report, emphasizing that current progress falls short of the goal set at COP28 for doubling energy efficiency improvements by 2030. The IEA’s Energy Efficiency 2024 report indicated that global primary energy intensity, a key measure of efficiency, is expected to improve by only 1% in 2024, mirroring the rate seen in 2023. This figure remains significantly below the 4% annual improvement needed to stay on track. “Energy efficiency has such a vital role to cut bills,…

Lucid has announced its financial results for the second quarter of 2024, revealing revenue of $200.6 million, surpassing Wall Street expectations. The electric vehicle maker has also secured an additional $1.5 billion from its majority shareholder, Saudi Arabia’s Public Investment Fund (PIF). Despite the revenue boost from higher production and deliveries, Lucid reported a net loss of $643 million for the quarter. The company, however, remains optimistic about its prospects and continues to target the production of approximately 9,000 vehicles by the end of the year. Lucid ended the quarter with around $4.28 billion in liquidity, which includes the new…

BYD reported another record month for new energy vehicle (NEV) sales in July, driven by strong growth in plug-in hybrid electric vehicle (PHEV) sales. The company sold 342,383 NEVs in July, surpassing its previous record in June. This marks a 30.60% increase from 262,161 units in the same period last year and a 0.21% rise from 341,658 units in June. BYD ceased production and sales of vehicles powered solely by internal combustion engines in March 2022, shifting its focus to PHEVs and battery electric vehicles (BEVs). The company’s NEV lineup includes both passenger cars and commercial vehicles. In July, BYD…

Volvo Cars revised its full-year retail sales forecast on Thursday, citing European tariffs on electric vehicles (EVs) manufactured in China impacting one of its key electric models until production shifts to Belgium. Despite reporting stronger-than-expected second-quarter results, Volvo adjusted its sales growth forecast for the year to 12%-15% from the previous 15%. “It’s really driven by tariffs,” CEO Jim Rowan told Reuters. “It’s a short term issue for us, but it is an issue and we’re just going to have to deal with that.” Rowan emphasized the uncertainty surrounding the growth forecast, stating, “We wanted to put a floor on…

Nio introduced its first autonomous driving chip, the Shenji NX9031, using a 5 nm process during Nio Day 2023 on December 23. This chip is set to be integrated into the ET9 executive sedan, currently available for pre-order with deliveries expected in Q1 2025. The Shenji NX9031 has completed the taping out process and is undergoing testing, sources familiar with the matter told 36kr. Meanwhile, Xpeng’s in-house smart driving chip is also progressing through the taping out process and is anticipated to achieve initial pilot production results by August, according to the report. Li Auto is also advancing its own…

Hyundai Motor Group, currently the world’s third-largest automaker behind Volkswagen and Toyota, is embroiled in a legal dispute with some of its US dealers over allegations of artificially inflating sales numbers. Filed in a Chicago federal court, the lawsuit claims Hyundai collaborated with certain dealers to misuse inventory codes intended for “loaner” vehicles. According to the plaintiffs, dealers would assign these codes temporarily to boost sales figures, only to remove them when the vehicles were actually sold. The lawsuit alleges that participating dealers were incentivized with rewards such as discounted vehicle purchases, improved allocation, and cash bonuses from Hyundai. These…

WeRide, a leading Chinese autonomous driving company, has achieved a significant milestone with the debut of Singapore’s inaugural fully autonomous, Level 4 passenger bus service. Operating under the brand name Robobus, the service is now operational from the Equarius Hotel at Resorts World Sentosa, covering a route spanning 0.7 miles. The Robobus connects several hotels within the resort via four stops, offering guests a convenient transportation option that completes the route in approximately 12 minutes. Despite the autonomous operation showcased in a WeRide video, each bus includes a human safety monitor on board to ensure passenger safety. Resorts World Sentosa,…

Tesla has seen an uptick in adoption of its Model Y among state-owned enterprises in Shanghai, including purchases by Chengtou Xinggang Group and Lingang Investment Holding Group for corporate use, according to the Lingang investment promotion service center. The move reflects Shanghai’s efforts to foster a business-friendly environment that treats domestic and foreign companies equally, as reported by CNEV Post. The announcement marks a significant stride for Tesla China, especially considering past government scrutiny over vehicle security issues, which once limited access for Tesla owners to locations such as government parks and airports. Recent initiatives, such as Tesla’s local data…

Chinese battery manufacturer Contemporary Amperex Technology Co Ltd (CATL) has introduced its new commercial vehicle battery brand, Tianxing, aimed at revolutionizing the logistics and distribution industry. The announcement, made at a launch event, showcased two flagship products under the Tianxing L series. The Tianxing L supercharging battery boasts a 140 kWh capacity with an energy density of 155 Wh/kg. CATL claims it supports 4C charging speeds, enabling a 60 percent charge in just 12 minutes, catering to time-sensitive applications. The battery is designed to endure eight years and 800,000 kilometers of use. For long-distance transport needs, CATL unveiled the Tianxing…

Isuzu has announced its development of a new range of all-electric class 6 & 7 F series trucks, set to revolutionize the trucking industry in the US and Canada. Partnering with Cummins and utilizing the Accelera battery-electric powertrain, Isuzu aims to deliver cutting-edge electric trucks that offer zero-emission solutions for urban environments. The announcement comes two years ahead of schedule, demonstrating Isuzu’s commitment to innovation and sustainable transportation. While specific details about the new electric trucks are yet to be revealed, Isuzu has confirmed that they will feature Accelera’s “next generation” lithium iron phosphate (LFP) battery technology. Shaun Skinner, Executive…