Stung by Asian dominance, Germany pours cash into EV battery ventures

Asian companies dominate the market for electric vehicle (EV) batteries and they are expanding their production capacity in Europe, China and the United States in a fight to win lucrative contracts from global automakers......»»

REUTERS/Hannibal Hanschke Happy Friday — and welcome to Shifting Gears! It's the second week for our roundup of transportatio.....»»

Asian equities rose on Friday after the S&P 500 index notched a new record closing high, but investor sentiment remained fragile following weak data from China and Germany, which reinforced concerns about the global economy......»»

To unclog bottlenecks last year at his Tesla Inc plant in California, Elon Musk flew in six planeloads of new robots and equipment from Germany to speed up battery production for its Model 3......»»

WALLDORF, Germany, Oct. 21, 2019 /PRNewswire/ --   New Cloud Bookings Up 39%, Software License Revenue Down 1%  Cloud Revenue Up 37%  Cloud Gross Margin Up More Than 5 Percentage Points IFRS Operating Profit Up 36%; .....»»

Ford is recalling about 322,000 cars whose batteries could catch fire due to acid leakage, trade publication kfz-betrieb reported on Monday, citing Germany's KBA federal motor authority......»»

Asian stocks rose on Monday as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors' fears of a sharp global economic slump......»»

First China mocked Trump's unsolicited tariff delay "olive branch" as evidence that the US is now losing the trade war. Now, the Asian superpower has also made it clear that the proposed delay - which came out of the blue and was not made in exchange for .....»»

Apple supplier AMS AG said it has made an all-cash takeover offer for German lighting group Osram Licht AG at an offer price of 38.5 euros per share......»»

EssilorLuxottica is buying Dutch opticians group GrandVision for up to 7.2 billion euros ($8 billion) in cash to take control of thousands of stores where it sells spectacles and lenses......»»

Volkswagen will create joint ventures and help finance battery production to persuade skeptical cell suppliers to back its aggressive push for mass producing electric vehicles, board member Stefan Sommer told Reuters......»»

President Donald Trump met with the leaders of Japan, Germany and India on the sidelines of the G-20 meeting in Osaka, Japan, and said he was optimistic about making trade deals with all three of those countries......»»

Authored by Tom Luongo, All of President Trum.....»»

U.S. companies are years away from challenging Chinese dominance of rare earth minerals due to a lack of domestic processing facilities, ensuring the Asian nation will maintain its near-monopoly on refining and powerful leverage in trade talks......»»

U.S. lawmakers on Tuesday moved closer to developing a national electric vehicle supply chain policy, with senators voicing bipartisan support for legislation designed to parry China's dominance in metals production and battery manufacturing......»»

Automaker Volkswagen AG says it is investing 1 billion euros ($1.12 billion) to set up a battery production plant in Germany......»»

Volkswagen will invest almost 1 billion euros ($1.1 billion) in battery cell production at a facility in western Germany and is seeking to simplify the group by spinning off or selling units, the automaker said on Monday......»»

Authored by Irina Slav via OilPrice.com, Europe is slowly but surely working to catch up with the world’s largest EV battery producers aft.....»»

France and Germany have agreed to invest and work together on the development and production of European batteries in part to remain competitive against the United States and China, Finance Minister Bruno Le Maire said on Thursday. Edward Baran reports......»»

The U.S. push to challenge China’s dominance in the production and sale of electric vehicles has at least one weak link: Most of the raw materials needed to make the batteries are dug elsewhere......»»