The Biden administration has doubled to 50 percent the U.S. tariffs on imported Chinese silicon wafers and polysilicon, both essential in making solar energy panels.
Tag: electric vehicles
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The retail, restaurant, manufacturing, automotive, and tech industries continue to be hit hard as prices increase and demand slows.
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FRENCH AND GERMAN MANUFACTURING SEE SHARP DECLINE IN SEPTEMBER
In September, French and German factory activity contracted more than expected, signaling a bleak end to a year in which the sector already suffered from stiff competition from China, fallout from the Ukraine war, and a global economy still in recovery.
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PRICE OF NEW CARS TOO HIGH EVEN FOR THE AFFLUENT
A growing number of upper-income Americans are dropping out of the new-car market, according to a report by Bloomberg.
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OPEC INCREASES FORECAST FOR LONG-TERM OIL DEMAND
Economic growth in Africa, India, and the Mideast and a slowdown in the transition to electric vehicles (EVs) will raise world oil demand more over the long term than previously expected…
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IEA CUTS OIL DEMAND FORECAST AGAIN ON CHINA’S WEAKNESS
For the second time in two months, the International Energy Agency (IEA) has reduced its 2024 oil demand outlook, once again citing China’s “rapidly slowing” oil usage.
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VW MULLING ITS FIRST-EVER CLOSURE OF A GERMAN AUTO FACTORY
Volkswagen, one of Germany’s iconic car makers, is thinking about doing something it never has: shutting down one of its German factories.
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BATTERY COMPANY TO BUILD $1.4-BILLION PLANT IN NORTH CAROLINA
Natron Energy, a $300-million startup developing a novel battery technology based on sodium, has announced plans to build its first commercial-scale factory, a $1.4-billion project in North Carolina.
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KEY INVESTOR IN “GREEN HYDROGEN” PULLS BACK
Fortescue, an Australian energy and metals corporation, has abandoned its commitment to produce 15 tons of “green hydrogen” annually for the ammonia industry by 2030. Founder and executive board chair Andrew Forrest has realized the goal is unrealistic, people familiar told the Financial Times.
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GERMAN CARMAKERS SEE SALES SLIDE
German auto companies BMW, Mercedes-Benz, and Volkswagen reported fewer sales in this year’s second quarter than during the same period last year. The drop was due significantly to decreased sales in China, which has become a key market for the companies in recent years.