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Chinese battery investment concentrated in 8 Moroccan areas Korea ‘excluded’ in the face of U.S. subsidies As Chinese battery investment is concentrated in Morocco in North Africa, Korea's share is decreasing as it becomes a new confrontation site for U.S. subsidies. Chinese manufacturers have begun investing in an unexpected place: Morocco, as the United States moves to boost domestic electric ..

U.S. Big 3 Hybrid Sharp Turn, LG Ensol Samsung SDI Battery ‘Fatal Injury’ As the Big 3 American automobile companies make a sharp shift to focusing on hybrids this year, Korea's investment in batteries in the United States appears to be suffering a fatal blow. Reuters reported on the 15th, citing Morgan Stanley, that hybrid sales in the United States increased five times faster than electric veh..

Ford GM ‘discards’ investment in electric vehicles, ‘4-fold increase’ in hybrid gasoline vehicle production American automaker Ford GM postponed its investment in electric vehicles and announced increased production and sales of hybrid and gasoline vehicles. Ford Chief Financial Officer John Lawler wrote in an investor note on the 26th that the company will “defer some of its planned multibillio..

Ford's 6-week strike wage increase, 40% including 25% compound interest for 5 years, LG Ensol excluded After a six-week strike, Ford Motor Company's strike ended with an unprecedented and historic labor-management agreement that included a 25% wage increase for four years and a 33% increase including compound interest, but battery workers, in whom Korea had invested heavily, were excluded from t..

Labor and management target strike test for conversion to electric vehicles amid simultaneous union strike of three major U.S. automakers The U.S. auto industry is testing new labor-management relations as, for the first time in history, the United Automobile Workers' Union (UAW) negotiated an 'expansion of target strike' against the transition to electric vehicles in a simultaneous strike by th..

Japan-Canada battery joint venture, focusing on all-solid-state products Korea ‘mid- to low-cost replacement’ Japan entered Canada with low-cost iron phosphate LEP batteries, and Korea announced its development of replacement products as a latecomer to mid- to low-priced batteries. At the 'Korea Advanced Battery Conference (KABC) 2023' hosted by energy market research company SNE Research on the..

U.S. Rural Electricity Investment of $11 Billion China’s LEP Battery Benefits Korea ‘Regression’ It is expected that a large number of iron-based LEP battery storage devices developed and mass-produced by China will enter the U.S. Rural Electric Union with an 11 billion dollar subsidy, and the Korean battery industry will be pushed out. US President Biden signed a subsidy of $11 billion on the 1..

As inexpensive sodium batteries are mass-produced, they are applied to small-size batteries, and China's CATL announced that it will mass-produce 'lithium-sodium mixed battery packs'. The New York Times reported on the 16th that at the Shanghai Auto Show next week, automakers and battery producers will announce sodium battery plans for a limited range of small cars in the Chinese market. Sodium ..

The G7 finance ministers' meeting resolved to "strengthen cooperation with low-income partners in the supply chain" in a statement on "global economic uncertainty." “Financial instability has led to uncertainty about the global economic outlook, and we will continue to closely monitor developments in the financial sector,” said the G7 Finance Ministers and Central Bank Governors Conference in a ..

Tesla, the largest electric vehicle in the United States, has focused on iron-based batteries, and China's LEP batteries have begun expanding following GM's plant construction. LG Ensol's sales and operating profit in the first quarter of this year more than doubled compared to the same period last year, which is attributed to the increase in demand from Tesla and GM. Tesla unveiled its “Master ..