#ev-supply-chain

#ev-supply-chain

Electrek reports that a new trade agreement between Canada and China will allow 49,000 Chinese-made EVs into Canada each year, with a tariff rate of just 6.1%. To put that number into context, the publication Driving reports that 1.9 million new vehicles were sold in Canada last year. Canada's shift in policy will move them away from the tariff policies of the U.S. (where Chinese EVs are subject to a 100% tariff) and closer to those of other North American countries. That could have big implications for the industry; according to a recent article in Mexico News Daily, Chinese automobiles now make up around 20% of the cars, trucks and SUVs sold in the country in question. And while Canada is not as populous as Mexico, gaining access to North America's third-largest automotive market remains a big deal.

The startup manufactures silicon anode materials, which significantly boost the storage capacity of lithium-ion batteries. Group14 currently operates three factories, two in the U.S. and one in South Korea. Despite headlines about softening demand growth for electric vehicles, the global market for lithium-ion batteries remains strong. Over the next decade, its expected to grow more than 15% annually, quintupling in size, according to Precedence Research.

Honda Motor Co. has revised its forecast for a 59% profit decrease this financial year, citing challenges from U.S. tariffs and rising competition from Chinese EV producers.