The U.S.-China rivalry has a new flashpoint in the battle for technology supremacy: electric cars. So far, the U.S. is losing. Last year, China became the world’s foremost auto exporter, according to the China Passenger Car Assn., surpassing Japan with more than 5 million sales overseas. New energy vehicles accounted for about 25% of those exports, and more than half of those were created by Chinese brands, a shift from the traditional assembly role China has played for foreign automakers. “The...
China already has enough battery manufacturing capacity to supply all global EV production, according to Bloomberg New Energy Finance. BNEF estimates to global battery-cell demand for both EVs and energy storage came in at around 950 gigawatt-hours in 2023—but manufacturing capacity was more than twice that, at around 2,600 gigawatt-hours
U.S. Secretary of State Antony Blinken met Friday with Chinese President Xi Jinping and senior Chinese officials, stressing the importance of “responsibly managing” the differences between the United States and China as the two sides butted heads over a number of contentious bilateral, regional and global issues. Talks between the two sides have increased in […]
In November, ahead of President Joe Biden’s meeting with Chinese leader Xi Jinping, Sen. Rick Scott (R-Fla.) issued a press release casting himself as a fierce opponent of China. It declared, “Since being elected to the U.S. Senate, Senator Scott has introduced dozens of bills to punish Communist China for its increased military aggression, continued […]
China's EV Dominance Could Hinder Manufactures to Obtain Biden's EV Subsidy Scheme, Warns South Korea
In the first quarter of 2024, the two biggest manufacturers of electronic vehicles, Tesla and its Chinese rival BYD reports dramatic sales drops compared against the same time last year.
China Is Winning Big On Smaller EVs Smaller is betterat least in the world of building EVs for the Asian market. And while less scrupulous publications might take this opportunity to make stereotypical jokes about height, we'll do no such thing and instead will simply report that according to the IEA's Global Electric Vehicle Outlook 2024, released Tuesday, China dominated the EV market in 2023. In fact, it made up 60% of global sales, according to a new report from Reuters. The...
The global community should work together to build inclusive, reliable and reciprocal supply chain partnerships, so as to promote resilient, unimpeded and efficient GVCs and a more inclusive and sustainable global economic development.
China Is Leading The Global Nuclear-Power Build-Out Authored by Tsvetana Paraskova via OilPrice.com, China is currently constructing a total of 26 nuclear power units with a combined capacity of 30.3 gigawatts (GW), the highest in the world, according to a report by the China Nuclear Energy Association (CNEA) cited by local media. China's nuclear power units Hualong One in Fuqing, Fujian Province, China. /CFP Last year, China approved the development of five new nuclear power...
Treasurer Jim Chalmers is warning of softer revenue growth in the federal budget as China’s downturn persists and conflict in the Middle East casts a shadow over the global economy. The Albanese government’s third budget is due to be delivered on May 14, with a second surplus still the goal in 2023/24. However, Mr Chalmers […]
NEW YORK -- Tesla CEO Elon Musk told employees on Monday that the electric
Apple has this week announced the launch of its new Made for Business initiative created to support small businesses and entrepreneurs. By providing tailored sessions and resources, Apple aims to empower these businesses to leverage technology effectively, streamlining their operations and fostering growth. The initiative is part of the broader Today at Apple program, which offers […]