[7.7 Lithium Battery News] India Plans to Impose Retaliatory Tariffs on US | US EV Tax Credits to Expire on September 30

[MIIT: Actual Average Fuel Consumption of Passenger Vehicles in 2024 Reaches 3.31 Liters/100km]The Ministry of Industry and Information Technology (MIIT) issued on July 3 the 2024 annual report on China's passenger vehicle corporate average fuel consumption and new energy vehicle (NEV) credit status. Data shows that in 2024, China's 117 domestic passenger vehicle manufacturers produced/imported 23.189 million units (including passenger NEVs, excluding exports). The industry's average curb weight was 1,712kg, with actual average fuel consumption reaching 3.31 liters/100km (WLTC test cycle) and average CO2 emissions at 78.47 grams/km. Fuel consumption positive credits totaled 52.852 million points, negative credits reached 5.847 million points, NEV positive credits stood at 17.288 million points, and NEV negative credits amounted to 1.01 million points.

[India Plans Retaliatory Tariffs Against US]Citing foreign media reports, Xinhua News Agency stated that India notified the World Trade Organization on July 4 of its plan to impose retaliatory tariffs on the US, citing export impacts from increased US tariffs on automobiles and parts.

[CATL and Geely Auto Deepen Strategic Cooperation]CATL and Geely Auto officially signed a comprehensive electrification strategic cooperation agreement. Leveraging this partnership, both parties will deepen collaboration in power battery technology synergy, product platform integration, and supply chain development, aiming to drive industrial chain synergy and establish a more efficient, stable cooperation mechanism. (Financial Associated Press)

[Doosch Technology: Solid-State Battery Materials Delivered to Downstream Manufacturers]Doosch Technology stated on its interactive platform that it has completed full deployment of core solid-state battery materials, with single-walled carbon nanotubes and silicon-carbon anodes already supplied to downstream solid-state battery manufacturers. Solid and semi-solid electrolytes are undergoing joint development and sampling tests with top-tier enterprises, receiving positive feedback. The company is advancing multiple testing phases according to delivery schedules to meet customer requirements. (Financial Associated Press)

[LG Energy Solution: Q2 Operating Profit Expected to Grow 152% YoYZ10/>South Korean battery maker LG Energy Solution disclosed preliminary Q2 results showing estimated operating profit of 492.2 billion KRW, representing a 152% YoY increase. (Financial Associated Press)

[US EV Tax Credits to Expire September 30]The US Congress approved comprehensive tax and budget legislation on Thursday, confirming the September 30 expiration of $7,500 tax credits for new EV purchases/leases and $4,000 credits for used EVs. In recent years, these tax credits have benefited EV sales. The US Congress first approved a $7,500 EV tax credit policy in 2008, which was gradually phased out after automakers produced 200,000 units. In 2022, the policy was expanded to include leased vehicles and removed the per-manufacturer cap. Dan Levy, automotive analyst at Barclays, noted that phasing out the tax credit in less than three months would lead to a significant surge in EV sales through "pre-purchasing," followed by a sharp decline in subsequent months.》Click for details