Focusing on electrification, Guoxuan Hi-Tech will spend US$1.
3 billion to build a battery factory in Morocco.
The Morocco government said on June 6 that it has signed an investment agreement with Chinese battery manufacturer Guoxuan Hi-Tech, which will build the country’s first electric vehicle battery super factory in Morocco at a total cost of 12.
8 billion dirhams (US$1.
3 billion).
The plant’s initial battery production capacity is 20 GW/hour.
Guoxuan High-tech plans to increase the plant’s production capacity to 100 GW/hour, with a final investment of US$6.
5 billion.
BYD ranked first in Israel’s electric vehicle sales list from January to May.
Data recently released by the Israel Automobile Importers Association showed that in the first five months of 2024, Chinese automaker BYD sold 9,033 electric vehicles in Israel, becoming the country’s best-selling electric vehicle manufacturer.
NIO Q1 losses further expanded.
In the first quarter of this year, NIO achieved a total revenue of 9.
909 billion yuan, a year-on-year decrease of 7.
2%, and a month-on-month decrease of 42.1%. a net loss of 5.
185 billion yuan, a year-on-year increase of 9.
4%, and a month-on-month decrease of 3.4%. The gross profit margin was 4.
9%, compared with 1.
5% in the first quarter of 2023 and 7.
5% in the fourth quarter of 2023.
NIO Automobile expects sales of Q2 electric vehicles to double.
NIO Automobile said on June 6 that it expects deliveries in the second quarter to more than double from the same period last year to 54,000 to 56,000 vehicles.
During the same period, the company’s revenue will also nearly double to approximately US$2.
3 billion.
Tesla’s Texas Super Factory has produced 50 million 4680 batteries.
On June 6, Tesla announced that its super factory in Austin, the capital of Texas, has produced 50 million 4680 batteries.
Currently, the output of 4680 batteries has reached nearly 1 million units per week.
Panasonic Energy has abandoned plans to triple revenue in fiscal year 2030.
Matsushita Energy, Tesla’s main supplier, said that due to slowing demand in the North American market, the company has abandoned plans to triple revenue from its electric vehicle battery business by fiscal year 2030.
Increase revenue to 3 trillion yen and triple production capacity to 200GWh.
However, the company pointed out that it is still committed to achieving the above two goals, but there is no longer a clear time point.
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