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Iea: EV is not on the wane

The International Energy Agency (IEA) has released a report on EV market trends, which suggests that EVs will account for 40% of global new car sales by 2030, up from 15% in 2023, and more than 50% by 2035. The IEA Director General said: "The global EV revolution is not only not fading, it is moving to a new stage of development... 01 The International Energy Agency (IEA) released a report on the latest market trends for pure electric vehicles (EVs) on April 23. The report predicts that EVs will account for more than 50% of global new car sales by 2035. The EV market will expand due to lower-priced cars sold mainly by Chinese manufacturers. The condition is that the price of on-board batteries is reduced and the charging infrastructure is improved. Every April, the IEA publishes its medium - and long-term outlook for the EV market, including plug-in hybrid vehicles (PHVS). For the first time, estimates are given up to 2035. 2035 is the year when the European Union (EU) and the U.S. state of California will in principle ban the sale of electric locomotives, including hybrid vehicles (HVS). By 2030, EVs will account for 40% of global new car sales, up from 15% in 2023, and more than 50% in 2035. By 2030, cumulative sales are expected to increase from less than 45 million units in 2023 to 250 million units, a six-fold increase, and by 2035 to more than 525 million units, a 12-fold increase. 02 The report points out that if various countries and regions adopt ambitious EV promotion measures, sales will increase further. It also proposed that EV sales in 2035 will account for two-thirds of total new car sales. Regionally, China, the world's largest auto market, saw a larger increase. Evs are expected to account for two-thirds of new car sales by 2030 and 85% by 2035. In China, small EVs priced at around $10,000 are becoming increasingly popular. According to the report, about 60 percent of the EVs sold in the Chinese market in 2023 will be priced lower than the engine. Demand for EVs in the United States is slowing. Tesla said on April 15 that it would cut more than 10 percent of its global workforce. There has been speculation that Tesla will exit the small EV development business. The IEA pointed out that the United States will implement more stringent exhaust regulations after 2024, and the EV proportion will increase in the medium to long term. By 2035, the EV share in the US market will reach more than 70%. It is expected that in the European Union and the United Kingdom, which have introduced stricter environmental regulations, the EV share will reach more than 85% in 2035. IEA Executive Director Fati Birol said in an April 23 statement: "The data suggest that EV momentum is continuing. The global EV revolution is not only not waning, it is moving to a new stage of development." But Japan's EV share is expected to be only 30% by 2035. The Japanese government has set a goal of converting all new cars into "electric vehicles" by 2035, but electric vehicles include not only EVs, but also HVS that use gasoline. The IEA pointed out that the EV market will expand only if the price of car bodies and on-board batteries is reduced and the charging infrastructure is built through policy support. In countries other than China, EV prices are 10-50% higher than engine locomotives. Although the price of batteries, which account for more than 30 percent of EV manufacturing costs in 2023, is 14% lower than that in 2022, the purchase price of rare metals such as lithium is likely to rise due to expanding demand and dependence on China for raw material supply. Expanding the introduction of low-cost lithium iron phosphate (LFP) batteries that do not use cobalt and nickel and a new generation of all-solid batteries are the key to the popularization of EV. 03 Europe and the United States are increasingly wary of the influx of low-priced Chinese EVs affecting the operations of domestic manufacturers. In December 2023, France excluded EVs imported from Asia, including China, from car purchase subsidies. The European Union has also begun a practical investigation into Chinese EV products, and tariffs may be raised in the future. The United States limited the tax benefits of the Inflation Reduction Act (IRA) to North American-made cars. The IEA demand forecast takes into account the effect of rising exports from China to countries around the world and downward pressure on EV prices. If Europe and the United States continue to block the inflow of Chinese EV, it will cause the EV market to split, and it is expected that the premise of the popularization of EV prices will be disrupted. Expanding the construction of charging infrastructure is also a condition. In 2023, public charging devices will increase by 40% to 4 million compared with 2022. The IEA expects that to achieve its 2035 EV sales forecast, charging devices will need to increase sixfold to 25 million. In addition to governments and private enterprises to build infrastructure, the construction of a stable power grid is also facing the issue. This article is from the wechat public account "Nikkei Chinese website" (ID: rijingzhongwenwang), author: Nikkei Chinese website



Details of the tariff increases announced by the United States on May 14

On May 14, the US released the results of its four-year review of the 301 tariffs imposed on China, announcing that on the basis of the existing 301 tariffs, the US will further increase tariffs on electric vehicles, lithium batteries, photovoltaic cells, key minerals, semiconductors, steel and aluminum, port cranes, personal protective equipment and other products imported from China. China is firmly opposed to and has lodged stern representations. Out of domestic political considerations, the US has abused the 301 tariff review process, further increased the 301 tariffs on some Chinese products, and politicized and instrumentalized economic and trade issues, which is a typical political manipulation. China expresses strong dissatisfaction with this. The WTO has already ruled that 301 tariffs violate WTO rules. Instead of correcting it, the US has stuck to its course and made repeated mistakes. The increase of 301 tariffs by the US side violates President Biden's commitment of "not seeking to suppress or contain China's development" or "not seeking to decouple and break the chain" from China, and is also not in line with the spirit of consensus reached by the two heads of state, which will seriously affect the atmosphere of bilateral cooperation. The US side should immediately correct its wrong actions and cancel the additional tariff measures against China. China will take resolute measures to safeguard its own rights and interests. Here's a look at the latest U.S. tariffs: Steel and aluminum: 0-7.5%; 25%; Semiconductor 25%, 50%; Electric vehicle: 25%, 100%; Battery, raw materials: 0-7.5% "25%" Solar energy: 25%-50%; Shore crane: 0%; 25%; Masks will increase to 25% by 2024 Medical gloves will increase to 25% by 2026 Syringes and needles will increase to 50% by 2024 Natural graphite increased to 25% in 2026 Other key minerals to 25% by 2024 Permanent magnets will increase to 25% in 2026



Charging Ecosystem for Mercedes EQS:Plug&Charge Support, Offsets for Renerable Energy

Mercedes-Benz on Thursday released more details on charging for its 2022 EQS flagship electric luxury sedan. The automaker hopes to build a brand-specific ecosystem of services that can later be used for other Mercedes EVs. The EQS will support the Plug & Charge standard, which allows drivers to simply plug in at a public station to start charging, without any need to swipe a credit card or tap a touchscreen. In a press release, Mercedes said will be able to activate charging through a vehicle's infotainment screen, an app, or a card. That requires customers to have a payment method tied to a specific vehicle, which customers can set up using a Mercedes Me user account. This will allow for a variety of other services, including route planning and finding specific stations, the automaker said. Mercedes is partnering with ChargePoint for that functionality, but the automaker said drivers will also be able to access charging stations on other networks, totaling about 60,000 locations in the United States. EQS drivers will also get an unlimited number of free 30-minute charging sessions at Electrify America DC fast-charging stations for the first two years after activating a Mercedes Me account, starting in 2021. Several automakers offer free charging (Audi just announced three years of free Electrify America charging for E-Tron GT owners), and Plug & Charge is becoming a prerequisite for EVs, but what could set Mercedes apart is the so-called Green Charging feature. This proprietary feature "ensures that an equivalent amount of electricity from renewable resources is fed into the grid," helping to lower a vehicle's overall carbon footprint and create more demand for renewable energy, according to the automaker. So the more charging you do via the app, the more Mercedes-Benz will offset with renewable energy. Mercedes isn't the only automaker looking to build its own charging ecosystem. Rivian is taking a different tack, with a backcountry-themed charging network and a mix of publicly accessible chargers and private ones. General Motors is planning brand apps that will translate cleanly from phone to car, find charging stations, and initiate "one click" charging. There's a certain level of self-interest in this, as charging-network interfaces keep people in the ecosystem and are a future hub for revenue.