Search results for ID.4
Mobility
Volkswagen sales chief says combustion cars are like horses and EVs are much better
Volkswagen has said the competitiveness of electric vehicles and persuading consumers matter more than Europe’s debate over combustion-engine regulations. Martin Sander, the company’s board member in charge of sales, marketing and aftersales, said consumers will ultimately accept that EVs are better than gasoline cars. He compared the shift to the transition from horses to cars, and said charging infrastructure, positive messaging and measures tied to energy prices are needed.
Industry
K battery makers see end of chasm tunnel, profitability within reach in Q2
South Korea\'s three major battery makers posted weak first-quarter results. LG Energy Solution and Samsung SDI swung to operating losses, and SK On is also expected to remain in the red. Brokerages see the first quarter as a cyclical trough and expect a shift to profitability from the second quarter as energy storage system sales ramp up and electric-vehicle demand recovers. Key variables include the pace of ESS revenue recognition and normalization of North American production.
Industry
Battery recycler Ascend Elements files for bankruptcy protection
Battery recycler Ascend Elements has entered Chapter 11 bankruptcy protection in the United States, TechCrunch reported on Thursday. The filing comes as the U.S. electric vehicle market slows. The report said the Trump administration’s cancellation of a $316 million subsidy earmarked for a Kentucky plant also contributed to the company’s funding strain. $204 million had already been disbursed, leaving the company seeking additional capital to cover the shortfall.
