Honda Motor's Electric Vehicle Strategy Adjustment Leads To Losses Exceeding 100 Billion Yuan

Recently, Rio Tinto Group and CATL signed the Memorandum of Understanding on Establishing a Partnership. The two parties will carry out in-depth cooperation in three key areas: strategic development and innovation in electrification, supply chains and the circular economy, and commercial and cooperation mechanisms, to jointly seize new industrial opportunities arising from the low-carbon transition. According to the Memorandum of Understanding, the two parties will prioritize advancing electrification applications in mining operations, exploring commercial pathways for battery materials recycling and the circular development of critical mineral resources, and studying circular economy practices and diversified cooperation models.

Volkswagen, Europe’s largest automaker, is expanding the ambitions of its battery business from EVs into utility ESS and energy trading, as global EV demand has fallen short of previous expectations. On Monday, Volkswagen launched its first utility ESS facility in Salzgitter, Germany. The project belongs to Volkswagen’s energy subsidiary Elli and can supply power to up to 20,000 households for about two hours. The facility is directly connected to the power grid and will also be used for energy trading on the European power exchange EPEX SPOT. The batteries used come from Volkswagen’s in-house PowerCo division. As battery suppliers cut prices and EV growth slows down, Volkswagen is seeking new sources of battery revenue.

Fatih Birol, Executive Director of the International Energy Agency, said on the 12th that the global installed capacity of nuclear power currently under construction had reached about 70 gigawatts, the highest level in 40 years.