Home Business Mazda Is Finally Committing to EVs and North America Is Why

Mazda Is Finally Committing to EVs and North America Is Why

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The Mazda booth at the 2002 Paris Motor Show where the new RX-8 was exhibited.

The Mazda booth at the 2002 Paris Motor Show where the new RX-8 was exhibited.
Photo: Pascal Le Segretain (Getty Images)

The company that makes the Miata has unveiled its plans for the 2020s. Toyota hasn’t hit its target this year, but we shouldn’t shed a tear. The weeks-long struggle between Tesla and its owners is reflected in the EV maker’s share price.all things In this Tuesday’s article, we also morning shift November 22, 2022.

1st gear: Meet the future of Mazda

a few weeks later Mazda hinted at grand electrification strategythe Japanese automaker told us on Tuesday about its vision for the future. Battery makers, chip makers, and if all goes according to plan, production in the US is possible.courtesy car news:

Mazda now expects EVs to account for 25% to 40% of global sales in 2030. That’s up from Mazda’s earlier projections that EVs will account for just a quarter of total sales. Rollouts will increase from 2028 due to a major push for battery electricity.

“Battery EV will be introduced in earnest by 2030.” [CEO Akira] Marumoto added that this shift will include the introduction of EVs in China and other global markets.

Mazda believes most of this need should be invested in EVs for the North American market. Of course, how well it can do that depends on how well it understands and navigates the terms of the Inflation Control Law, and CEO Akira Marumoto said the company is still investigating the bill. Either way, it looks like Mazda will eventually have to build an EV here to qualify for the tax credit, and it won’t be on the card for about four more years.

Mazda is also considering producing electric vehicles in the United States around this time, Marumoto said. The company is investigating the requirements set by the recently introduced Inflation Reduction Act (IRA) to see how it will qualify for the EV tax credit given to manufacturers of domestically produced EVs.

“North America is the most important market for us,” Marumoto said. “There are still some unknowns about the IRA that we need to understand better.”

“Given the importance of the market, we would like to eventually produce EVs in North America.

That timeframe would put it in the second half of Mazda’s 2025-2027 Phase 2.

In the meantime, Mazda will continue to develop its hybrid vehicles and may even introduce new enthusiast models to boost interest in its next-generation offerings. The manufacturer has hinted at rendering a new concept called the Vision Study Model. Gorgeous RX Vision Coupe From the middle of the last decade. By 2025, the company plans to have his modular EV platform ready. It would be a shame to waste it only on more CX crossovers.

2nd gear: Toyota down Balmost never

in October, Toyota hinted it could not meet full-year production estimates, but declined to shed any light on what the shortfall might be. It is worth noting that Toyota’s fiscal year ends in March.

Still, December doesn’t look too hot for the brand, which Toyota believes will come out next month after making 700,000 vehicles. car news Note That’s about 100,000 shy of average monthly fees these days.

The world’s largest automaker said Tuesday it expects to be able to produce only 700,000 cars worldwide next month, including 250,000 in Japan and 500,000 overseas.

The suspension of production will affect four lines at three plants in Japan alone.

The discontinued products include the RAV4 crossover and 4Runner SUV, as well as numerous Lexus nameplates such as the Lexus GX, NX, UX, RX utility vehicle and ES sedan.

Toyota said the downgrade was due to “future risks such as semiconductor shortages.”

This is all pretty trampled, but the problem is: 9.2 million cars yet Make a Toyota record. The highest number so far was his 9.08 million in 2017. Growth alone is not enough in the face of endless and tangled web of global market turmoil, right?

3rd Gear: Life’s Good to Bea battery supplier

LG Chem plans to open a new battery factory in Volunteer province over the next few years, with production scheduled to start in 2025. Its main customer is Ultium Cells, a joint venture between LG and General Motors. take it away auto news:

Mass production at its Clarksville, Tennessee factory is scheduled to begin in the second half of 2025, and the factory will create more than 850 jobs, LG Chem said in a statement.

The plant will have an annual capacity of 120,000 tons of cathode material by 2027, enough to power about 1.2 million EVs.

LG Chem added that it is also seeking cooperation with mining and recycling companies to better support its customers so that it can meet the requirements of the new law, the Reducing Inflation Act.

Inflation control laws require automakers to increase the percentage of battery raw materials that come from the United States or US free trade agreement countries if they wish to qualify their products for federal tax credits, so LG Chem important to And GM will both do this by the second half of the decade.

Fourth gear: Tesla Tumble

twitterthreat of COVID shutdown in China and recall Tesla closed at its lowest price since the end of 2020 — closing Monday at $167.87, down 6.8% on the day.Around bloomberg:

Tesla shares have lost nearly half of their value in less than two months as supply chain disruptions mount, raw material costs skyrocket and potential buyers feel the pressure of stubborn inflation and rising interest rates. .

What’s more, Musk’s preoccupation with its newly acquired social media platform has some investors worried that Tesla’s strategy could be derailed.

Cowen analyst Jeffrey Osborne said in a note on Friday, “Weaker China macro data has already pushed prices down to stimulate demand and Tesla, which has been exporting heavily in the first half of the fourth quarter. It has led to concerns about

This is also a time when the company appears to be facing headwinds in China. These headwinds are the domestic EV onslaught.Tesla responded to weak demand with price cuts in the region, and further price cuts were rumored as far as the Chinese automaker’s public relations office. crushed themLucky China — they still have a Tesla PR team.

Gear 5: Retreat from BYD

Warren Buffett’s Berkshire Hathaway has once again sold a small portion of its total stake in Chinese EV maker BYD. Reuters Reported on Tuesday:

Warren Buffett-owned investment firm Berkshire Hathaway has sold 3.23 million Hong Kong-listed shares in electric car maker BYD for HK$630.33 million ($80.67 million), according to a stock exchange filing. It was revealed.

The sale saw Berkshire’s holding in BYD’s total outstanding H shares drop from 16.28% to 15.99% on Nov. 17, according to a Hong Kong stock exchange filing on Tuesday. .

rear Sold 0.5% in late AugustBuffett’s investment fell another 3.23 million shares this week, reaching $80.7 million. Buffett also sold a little bit again just a few weeks ago. T.Aken But overall, the company owns about 5% less automaker stock than it did before July.

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