CATL Announces New Stock Listing Plan, Tesla Semi Electric Truck Factory Expected to Start Production in 2025 | Overseas Daily
"Top 3 News "
CATL Announces New Stock Listing Plan
Key Points:
The world's largest electric vehicle battery manufacturer, Contemporary Amperex Technology Co. Limited (CATL), plans to list on the Hong Kong Stock Exchange to expand its global market share and enhance its competitiveness. The company has announced its plan to issue H shares for overseas listing and has applied for listing on the Hong Kong Stock Exchange. This new stock listing will help drive the company's global strategic layout, establish an international capital market platform, and improve its comprehensive competitiveness. Although the plan still needs to be approved by shareholders and regulatory agencies (including the China Securities Regulatory Commission), and CATL indicates that there is significant uncertainty whether it can pass the review, this is not the first time CATL has announced a new stock listing plan. Last year, this electric vehicle battery giant had planned to raise at least $5 billion in a Swiss global depositary receipt, but its plan was postponed due to concerns from Chinese regulatory agencies about large-scale issuances.
CATL Chocolate Battery Swap (Source: Electrek)
Opinions:
CATL occupies a leading position in the global electric vehicle battery market. According to SNE Research, in the first ten months of 2024, CATL accounted for 36.8% of the market share, China's BYD ranked second with a 16.8% market share, and South Korea's LG Energy Solution ranked third with an 11.8% market share. Earlier this week, CATL launched its new electric vehicle chassis, Bedrock Chassis, which the company claims is "the world's first ultra-safe skateboard chassis" and could open up a "trillion RMB market". As the global leader in electric vehicle batteries, CATL is also rapidly expanding its electric vehicle battery swap network, with the goal of phasing out gas stations in the coming years.
Tesla's Semi Electric Truck Factory's Main Structure Has Been Built, Expected to Start Production in 2025
Key Points:
Tesla has completed the main steel structure construction of its Semi electric truck factory and expects to start production in 2025. The Semi project has encountered significant delays since its debut in 2017. It was originally planned to be listed in 2020, but it was not officially put into production until the end of 2022. Although the production version has been launched and production has begun, the project progress is slow. In October 2023, Tesla only produced about 70 Semi electric trucks, and the company only uses these trucks internally and for major customer PepsiCo.
Tesla Semi Electric Truck Factory (Source: Electrek)
Opinions:
In January 2023, Tesla announced the expansion of the Gigafactory in Nevada to mass-produce Semi electric trucks. However, more than a year later, there is not much news about this effort. Earlier this year, Tesla began land leveling and construction work at the new factory site. The plan seems to have changed. Instead of expanding the existing Giga Nevada factory as originally planned, Tesla began to build a new factory next to the existing one. In April, Tesla said it plans to complete the factory construction next year and start production of Semi electric trucks at the end of 2025. Now, before the end of the year, Tesla has released the latest update on the factory's progress.
Schneider Electric Semi-Trailer Fleet Reaches 9.6 Million Kilometers
Key Points:
One year after reaching 1 million electric miles, Schneider National has added more than 5 million electric miles, with a total of more than 6 million miles (9.6 million kilometers) of electric miles. The company said this all-electric milestone means Schneider has reduced more than 20 million pounds of harmful carbon emissions, equivalent to removing more than 2,100 gas-powered passenger vehicles from the road. Mark Rourke, President and CEO of Schneider, said reaching 6 million zero-emission miles demonstrates the company's firm commitment to sustainability and innovation. Schneider operates one of the largest Freightliner eCascadia electric semi-trailer fleets in the United States and has currently deployed 92 BEVs. These trucks operate in and around the ports in Southern California, significantly reducing emissions, helping to improve air quality, while reliably transporting goods and saving money for SNDR.
Schneider Electric Truck Fleet (Source: Electrek)
Opinions:
David Carson, Senior Vice President of Sales and Marketing at DTNA, said Schneider is an example of the forward-thinking entrepreneurship the industry needs. Their achievement of more than 6 million zero-emission miles reminds us all to continue to work together to overcome challenges and move towards zero emissions. Fifty of Schneider's 92 eCascadias are funded by JETSI, a California-wide initiative aimed at reducing greenhouse gas emissions. Of the remaining 42 vehicles, 5 are co-funded by the EPA's FY18 Targeted Airshed Grant, 7 are funded by the Volkswagen Environmental Mitigation Trust, and 30 are funded by California's HVIP incentive program.
"Big Events"
Hyundai May Test Solid-State Batteries in 2025
The electric vehicle battery industry maintains its current development momentum and may become a springboard for solid-state batteries in the next few years. Several major automakers and battery companies, including Toyota, Honda, and Nissan, plan to deploy solid-state batteries in passenger vehicles. Hyundai Motor Group is also following closely and has no plans to fall behind. Solid-state batteries are considered the next major breakthrough in the electric vehicle industry. They offer solutions to the problems of traditional lithium-ion batteries, including reducing the risk of fire, extending the driving range, speeding up the charging speed, and expanding the operating temperature range. However, their manufacturing costs are higher, and original equipment manufacturers (OEMs) still need to solve the problem of scale. However, battery companies and automakers believe these problems can be solved over time.
Solid-State Battery (Source: InsideEVs)
It is reported that Hyundai Motor Group has launched its first solid-state battery pilot production line at the final stage of its Giheung Institute in South Korea. The batteries of this production line will be used for real-world tests in prototype electric vehicles in 2025. Unlike traditional liquid or gel electrolytes, solid-state batteries use solid electrolytes, which help to promote the movement of charged ions during the battery's charge and discharge cycles.
This solid electrolyte improves safety, energy density, and lifespan compared to traditional batteries. This is why several automakers are fully investing in this technology. Hyundai's approach seems similar to Honda's plan, which established a 300,000-square-foot demonstration line in Sakura City, Japan this year to address large-scale manufacturing issues. Toyota will also be one of the first automakers to produce solid-state batteries, after the Japanese government approved its production plan for 2026. It may take a few more years for Korean and Japanese automakers to bring this technology to the United States, but the development trend indicates that range anxiety may finally have a lasting solution.
Hyundai Is Preparing to Launch Its First Electric Minivan.
Hyundai Staria Hybrid minivan (Source: Electrek)
Hyundai is preparing to launch its first all-electric minivan, with production expected to begin next year. This electric minivan will play a key role in the global expansion. Hyundai's Staria is the successor to its multi-purpose vehicle (MPV) Starex, which was launched in 2021 and offers a variety of configurations such as vans, minibuses, cargo vans, and pickups. Although Staria initially only offered diesel and gasoline powertrain options, Hyundai added its first hybrid model in February. Hyundai will launch the Staria Electric, its first electric minivan, next year, and the new ST1 electric commercial vehicle based on Staria made its debut in March. The ST1 is Hyundai's first commercial electric vehicle, offering refrigerated cargo van and basic chassis cab options. Hyundai has been producing gasoline and hybrid versions of Staria at its Ulsan plant in South Korea and is preparing to start production of the electric version.
Contargo Adds 20 Mercedes-Benz eActros 600 Electric Semi-Trailers to Its Fleet
Contargo's eActros 600 Electric Semi-Trailer (Source: Electrek)
European logistics company Contargo is expanding its trimodal transport fleet by adding 20 newly launched Mercedes-Benz eActros electric semi-trailer trucks with a range of 500 kilometers, bringing zero-emission transportation to the German inland region. The new Mercedes-Benz eActros 600 electric semi-trailer truck is designed for long-haul transportation and has officially started production at the Wörth plant in Bavaria last month. Now, Contargo has become its first customer.
With the addition of these 20 new Mercedes-Benz electric trucks, Contargo's electric truck fleet has expanded to 60 BEVs (battery electric vehicles) and plans to increase this number to 90. Mercedes-Benz said that Contargo is just the beginning. They plan to deliver 50 electric semi-trailer trucks equipped with 600 kWh batteries to German transport companies by the end of 2024. Part of the funds for Contargo's 20 eActros 600 trucks is provided by the Federal Ministry for Digital Affairs and Transport. This is part of a broader plan to replace a total of 86 diesel-engine commercial vehicles with more environmentally friendly alternatives. The funding directive is coordinated by NOW GmbH, and the application has been approved by the Federal Office for Logistics and Mobility.
Volkswagen Solves the Recall Issue of ID.4, and Sales Begin to Recover
Volkswagen ID 4 (Source: Electrek)
Volkswagen has found a solution to the recall problem of the ID.4 and is ready to start production of the recalled ID.4. Sales will resume in the near future. In September this year, Volkswagen discovered a problem with the ID.4 electric vehicle, resulting in the recall of nearly 100,000 vehicles. The problem is that the door handle may leak, causing water to enter the circuit board that controls the door handle, resulting in the door opening unexpectedly. At that time, Volkswagen said that the production suspension may last until the beginning of next year, and about 200 workers were temporarily laid off. Three months later, the solution is ready and has been installed in some vehicles. More vehicles are being transported to dealers and installed at Volkswagen's Tennessee plant. Sales have resumed this week, and dealers have begun to repair some vehicles. The affected models are the 2021 - 2024 ID.4. Owners will soon receive a notice from Volkswagen to have their vehicles repaired - but they have never been asked to stop driving these vehicles, so owners can continue to drive until the repair is completed.
"Cool Products"
Totem GTElectric
This is a modern version of the Alfa Romeo GT Junior, the Totem GTElectric. This car uses a carbon fiber body, which is lighter and more cost-effective than steel or aluminum, especially for limited-production models. Totem retains the original chassis and vehicle identification number, but has significantly improved in size, stiffness, strength, and power.
Totem GTElectric (Source: TopGear)
Totem GTElectric (Source: TopGear)
The Totem GTElectric is an electric model with 590 horsepower, while other versions offer a custom 2.8-liter twin-turbo V6 engine (640 horsepower) and a 3.2-liter version (810 horsepower). The 0 - 100 km/h acceleration time of all versions is around three seconds. The torque of the electric version is 663 pound-feet, and the vehicle weight is approximately 1,490 kilograms. The vehicle is equipped with an 81 kWh battery. Although it is about 150 kilograms heavier than the gasoline version, it is still lightweight among electric vehicles. Totem expects the electric version to have a range of 402 - 483 kilometers, a top speed limited to 130 miles per hour, and support fast charging of up to 90 kilowatts.
