SK Innovation: "While we saw drops in EV battery shipment in the first quarter caused by customers battery inventory adjustment, we expect to see improved market environment backed by launches of new EVs in North America," SK On Chief Financial Officer Kim Kyunghoon said in a post-earnings conference call.
Car Parts Maker: To face those uncertainties, Valeo has been careful to no longer have plants only specialized in high voltage, but able to address both hybrids and EVs, Perillat said.
Chinese EV: The difference between Europe s legacy automakers and more EV-focused Chinese manufacturers will be on stark display this week at the Geneva car show, which is returning after a four-year hiatus due to the pandemic. The only major companies holding media events are France s Renault, and China s SAIC and BYD - two of a number of the country s automakers that have set their sights on Europe.
Shares in Rivian and Lucid plummeted 15% and 8% respectively after the announcements - the latest signs of a slowdown in EV demand flagged by automakers including Ford, General Motors and market leader Tesla. The plateauing demand sparked a price war last year as companies drained margins to woo customers.
Mercedes-Benz: Supply chain bottlenecks for critical components remained "a significant risk factor", while the potential for an "even more pronounced" slowdown in economic growth could also have an impact on automotive markets, the group said in a statement.