Focusing on the industrial economy, Thailand plans to implement new tax breaks to attract investment from hybrid car manufacturers, and Thailand plans to provide new incentives for hybrid car manufacturers.
It is expected to attract at least 50 billion baht ($1.
4 billion) of new investment over the next four years.
From 2026, eligible hybrids with less than 10 seats will be subject to a 6% excise tax rate and exempt from a fixed rate increase of two percentage points every two years if certain criteria are met.
Focusing on electrification, Tesla replaced Ford as Morgan Stanley’s “first choice” in the US auto industry.
On July 29th, Morgan Stanley rated Tesla as the “preferred stock” of the US auto industry, replacing Ford.
Tesla’s share price rose nearly 6.3%. Morgan Stanley said Tesla’s energy business could be worth more in the future than the company’s car business.
In addition, Tesla will occupy a larger dominant position in the zero-emission vehicle regulatory points income market as traditional carmakers scale back their expansion plans for electric vehicles.
The joint venture between Volkswagen and Rivian was approved by the German antitrust agency, and the German competition authority said on July 29th that Volkswagen and American electric carmaker Rivian Automotive could form an electric vehicle software joint venture.
“there are no serious competition issues to worry about,” Andreas Mundt, head of Germany’s antitrust agency, said in a statement.
Focus on the new trend of traditional car companies, Akio Toyoda: if shareholder support continues to decline or cannot be re-elected chairman, Toyota Chairman Akio Toyoda said in an exclusive interview on July 29th that if shareholder support for him continues to decline at the rate of this year, he may not be re-elected as chairman.
Akio Toyoda’s shareholder approval rating fell to 72% this year from 85% last year.
Lamborghini’s operating profit hit a record high in the first half of this year.
In the first half of this year, Lamborghini delivered 5558 cars worldwide.
revenue reached 1.
6 billion euros ($1.
762 billion), an increase of 14.
1 percent over the same period in 2023.
and operating profit reached a record high of 458 million euros.
Focusing on the supply chain, BASF’s second-quarter profit fell or suspended battery projects.
On July 26th, BASF reported that sales in the second quarter of this year fell 6.
9% from a year earlier to 16.
111 billion euros.
profit before interest and tax (EBITbeforespecialitems) before special items fell 3.
7% year-on-year to 969 million euros ($1.
1 billion).
net profit fell 14% year-on-year to 430 million euros.
With growth in electric vehicle sales stagnant, BASF plans to close two of its small factories in Germany and is reviewing investment plans for battery materials.
In addition, the company also said it would suspend plans to build a battery recycling bin in Spain.
Due to weak demand for electric vehicles, the core profit of Umicore fell 24% in the first half of this year.
Due to the weak market demand for electric vehicles, the core profit of metal recycling group Umicor fell 24% year-on-year to 393 million euros in the first half of this year.
The battery materials business unit lost 1.
6 billion euros.
Umicor has decided to postpone its “large-scale” investment in a battery recycling plant in Europe, a planned investment in a battery materials plant in Canada and a strategic review of the company’s business.
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