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January 3rd - Yesterday, the national railway system transported 12.213 million passengers. Today, the railway system will see a peak in return travel. Data from the China State Railway Group shows that the national railway system is expected to transport 17.45 million passengers, with 1,343 additional passenger trains planned. Data from the 12306 railway website shows that tickets are still available on some routes.Haikou Customs reported on January 3 that on the first day of the New Years Day holiday, Hainans offshore duty-free sales reached 148,000 items, a year-on-year increase of 30%; the number of shoppers reached 32,000, a year-on-year increase of 45.8%; and the total shopping amount reached 251 million yuan, a year-on-year increase of 93.8%.1. According to multiple foreign media reports, BYD has surpassed Tesla to become the worlds top-selling electric vehicle manufacturer. 2. Teslas Q4 2025 deliveries declined more than expected, marking its second consecutive year of sales decline. 3. Samsung Electronics CEO proclaims "Samsung is back": HBM4 has received high praise from customers for its unique competitive advantages. 4. Samsungs IT and cloud services subsidiary, SDS, will invest 427 billion won to build an AI data center in South Korea. 5. Biren Technologys shares surged 75.8% on its first day of trading. 6. Documents show that Brazils antitrust agency, CADE, has launched an investigation into Microsoft. 7. According to Hong Kong Stock Exchange documents, Huizhou EVE Energy Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange. 8. Rivian, the US electric vehicle company, produced 10,974 vehicles and delivered 9,745 in Q4. 9. The Indian government under Prime Minister Modi is ramping up efforts to build a domestic supply chain and has approved $4.6 billion in investment in electronic components.According to ship movement data disclosed by foreign media on Friday, at least seven oil tankers bound for Venezuela have changed course or stopped at sea.The Dow Jones Industrial Average rose 319.10 points, or 0.66%, to close at 48,382.39 on Friday, January 2; the S&P 500 rose 12.97 points, or 0.19%, to close at 6,858.47; and the Nasdaq Composite fell 6.36 points, or 0.03%, to close at 23,235.63.

Tata Considers Establishing EV Cell Production Facilities in India and Europe

Charlie Brooks

Jan 13, 2023 11:28

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In an interview with Reuters, the chief financial officer of Tata's vehicle sector stated that the company is considering developing battery cell production facilities in India and Europe.


Tata Motors (NYSE:TTM) controls the electric vehicle (EV) industry in India, having sold a total of 50,000 EVs to date and announcing plans to develop 10 EV models by March 2026. The company anticipates that electric vehicles will account for 25% of its total sales by 2025, up from roughly 8% presently.


Tata Motors' P.B. Balaji stated on the sidelines of India's Auto Expo auto show in Greater Noida, Uttar Pradesh, that localizing cell manufacturing for EV batteries is essential for increasing the use of local components in electric vehicles and will assist the automaker in establishing a local supply chain.


Tata is investigating two production sites, one of which is in Europe, to suit the battery cell needs of its premium vehicle unit Jaguar Land Rover, which has a manufacturing facility there.


Balaji stated that the investment in cell manufacture will be made by Tata Sons, but did not disclose the amount or schedule.


He remarked, "We should reveal it as quickly as possible."


India's automobile market, which is anticipated to become the third-largest in the world, is miniscule relative to its population, with electric models accounting for only 1% of nearly 3.8 million total car sales in 2017; nevertheless, the government intends to grow this to 30% by 2030.


Tata expects its EV business to generate positive cash flow by 2025, and the corporation is also concentrating on enhancing the sector's profitability.


Tata's new models will include a longer driving range and higher price points as Tata Motors looks to secure its position as market leader as Mahindra & Mahindra, Warren Buffett-backed BYD, and SAIC Motor's MG Motors prepare to launch electric vehicles.

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