News
According to the World Energy Outlook (WEO) 2023 released by the International Energy Agency (IEA) on Tuesday, the significant rise of clean energy technologies, including solar, wind, electric vehicles, and heat pumps, is reshaping the way factories, vehicles, household appliances, and heating systems are powered.
As per the latest WEO report, in 2020, only 1 out of every 25 cars sold was an electric vehicle; three years later, the ratio increased to 1 out of every 5 cars. By 2030, the number of electric vehicles on the road globally is set to nearly increase tenfold. Solar photovoltaic power generation is projected to exceed the entire electricity generation capacity of the United States. The share of renewable energy in the global power structure is expected to rise from its current level of around 30% to nearly 50%. Global sales of heat pumps and other electric heating systems will surpass those of fossil fuel boilers. Investment in new offshore wind projects will be three times that of new coal and gas-fired power plants.
IEA notes that this growth in green energy is based solely on the current policy plans of governments worldwide. If nations can fulfill their national energy and climate commitments in a timely and comprehensive manner, the progress of clean energy will be even more rapid. However, stronger and more forceful measures will need to be taken globally to have a chance of achieving the goal of limiting global temperature rise to 1.5 degrees Celsius.
WEO scenarios based on current policy settings reveal that the increasing momentum behind clean energy technologies, coupled with global structural economic shifts, is significantly impacting fossil fuels. There is a chance that global demand for coal, oil, and natural gas will peak in 2030.
In this scenario, the share of fossil fuels in the global energy supply may drop from around 80% in recent decades to 73% by 2030, and global energy-related carbon dioxide emissions are expected to peak in 2025.
Fatih Birol, the Executive Director of the IEA, emphasizes that the transition to clean energy is an unstoppable global phenomenon and the sooner, the better, for everyone.
(Image credit: Tesla)
News
Fisker, a prominent partner of Foxconn in the EV sector, is taking steps to expedite production and deliveries of its first all-electric SUV, the “Fisker Ocean.” However, faced with slowing EV demand and the market leader Tesla initiating a price war, Fisker has joined the price reduction battle, announcing a cut in the price of their flagship model, the Ocean Extreme.
As reported by media outlets including Reuters, Fisker revealed price reductions in the U.S. market on October 23rd. The Ocean Extreme, previously priced at $68,999, has been lowered to $61,499, marking a $7,500 reduction. Customers who have already placed orders and existing owners are eligible for these reduced prices. In the Canadian market, the price has been lowered from $89,999 CAD to $79,799 CAD (approximately $58,169 USD), a reduction of $10,200 CAD.
In comparison, the Ocean Extreme competes with Tesla’s Model Y Performance, which is currently priced at $41,390 in the U.S.
Fisker’s CEO, Henrik Fisker, acknowledged the competitive nature of the rapidly growing EV market, stating, “Fisker must adapt to the realities of intensified competition in the rapidly growing EV market.”
As interest rates and inflation have both risen, impacting consumer willingness to make vehicle purchases, Tesla initiated a price reduction strategy to solidify its position as a leader in the EV industry. For EV startups that are relatively new to the market and smaller in scale, this competitive landscape can be particularly challenging.
Currently, the Fisker Ocean is available in three versions, including the base single-motor Sport, the mid-range dual-motor Ultra, and the top-tier Extreme, all featuring dual-motor all-wheel drive, with the Extreme version boasting an impressive 564 horsepower.
While Fisker has reduced the price of the Ocean Extreme, the company has simultaneously increased the prices of the lower-tier Sport and Ultra models in the U.S. market by 4% and 6%, respectively. The new prices for these models are $38,999 and $52,999, and similar price adjustments have been implemented in the Canadian market.
Insights
Volkswagen recently unveiled its extensively redesigned Tiguan lineup. This vehicle, built on the MQB Evo platform, offers a range of powertrain options, including gasoline, diesel, mild-hybrid, and plug-in hybrid (PHEV) variants. Notably, the PHEV model features a 1.5-liter TSI evo 2 turbocharged engine and a 19.7 kWh battery pack, providing an impressive electric-only driving range of 100 km with an efficiency of around 5.1 km/kWh.
TrendForce’s Insights:
PHEVs offer a dual-power output system, primarily relying on traditional combustion engines for long-distance driving and electric power from the battery pack for shorter trips. These PHEVs feature larger battery packs than hybrid electric vehicles (HEVs) and can be recharged. Recently, PHEVs, including Volkswagen’s Tiguan, have surpassed a 100 km electric range milestone. Other models, such as the BMW 5 Series, Honda Accord e:PHEV, and Changan Oshan Z6, have also achieved similar electric ranges. Toyota even announced its focus on PHEV development, with a goal of reaching an average electric range of up to 200 km.
As calculated by TrendForce, the PHEV market share has grown from 9% in 2015 to 21% in 2023, with an average battery pack capacity increase from 15 kWh in 2018 to 20 kWh in 2023. While BEVs remain the primary choice in the electric vehicle market, manufacturers continue to introduce PHEV models due to consumer range anxiety and the desire to maximize the remaining value of traditional combustion engines.
Most PHEVs are adapted from existing internal combustion engine (ICE) platforms, incorporating both ICE and electric power components. The complexity and higher number of components in PHEVs may impact overall vehicle efficiency, requiring additional maintenance or part replacement, which could be costly for consumers.
Consumers are well aware of the drawbacks of PHEVs, yet the steadily growing market share indicates that range anxiety remains a major concern. PHEVs, offering the comfort of a gasoline engine alongside electric capabilities, outweigh their inherent flaws when it comes to reducing range anxiety. Besides, Geely’s Zeekr hybrid series can incorporate a smart driving system with a centralized domain controller architecture, challenging the notion that traditional gasoline vehicle platforms can’t support advanced autonomous driving.
In conclusion, with the push from both the market and automakers, PHEV technology is continually advancing and is no longer considered a “transitional solution” as it was in the past. While inherent flaws still exist, consumers are more accepting of these drawbacks compared to their concerns about range anxiety. To completely eradicate range anxiety, the ratio of public charging stations to vehicles needs to shift from the current 7:1 to 2:1 or even 1:1. Alternatively, matching the range of internal combustion engine vehicles is crucial. However, both of these goals are not likely to be achieved until around 2030. Until then, PHEVs will maintain a significant presence in the market.
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This year’s COMPUTEX successfully attracted global attention, with the participation of 1,000 exhibitors and nearly 50,000 technology experts, startups, professional buyers, and international media. Building on the success of this year’s exhibition, COMPUTEX 2024 will revolve around Artificial Intelligence (AI) and is scheduled to take place from June 4 to 7 at the Nangang Exhibition Center, Halls 1 and 2. The organizer cordially invites interested exhibitors to register and join this global technology extravaganza.
COMPUTEX 2024: Building an AI Technology Ecosystem
According to market research firm IDC’s predictions, global spending on AI system-related software, hardware, and services is expected to exceed $300 billion by 2026. Additionally, the compound annual growth rate (CAGR) for 2022 to 2026 is projected to reach 26.5%. Given the continued expansion of the global AI computing trend into various industries, COMPUTEX 2024 focuses on six major themes: AI Computing, Advanced Connectivity, Future Mobility, Immersive Reality, Innovations, and Sustainability. New additions to the event include exhibition areas with forward-looking development potential, such as AI Computing and System Integration, Components and Battery Energy Storage, and Smart Mobility. We invite global technology enterprises to join us in co-creating the AI technology ecosystem.
InnoVEX, the innovation and startup exhibition area, stands as COMPUTEX’s international benchmark platform for startups. It provides startup companies with opportunities to find manufacturing partners and international sales channels while hosting startup competitions and product presentations to increase visibility and garner support from international investors.
Diverse and Rich Exhibition Activities Receive Support from Technology Leaders
This year, COMPUTEX Keynotes & Forums made a significant impact by featuring heavyweight tech CEO speakers. The event created quite a buzz in the industry, drawing an attendance of 7,000 people on-site and an impressive 2.5 million online views. In 2024, the organizers will continue to host these speaking engagements, inviting tech giants and high-level executives to share their profound insights into future technology trends. These discussions delve deep into areas such as AI, system integration, data science, IoT, and more, fostering cross-disciplinary exchanges and knowledge sharing.
Throughout the exhibition, there will be additional events, including international press conferences, opening ceremonies, procurement meetings, themed guided tours, Happy Hour, and more. These activities are designed to enhance communication and interaction among exhibitors, international media, international buyers, and domestic industry professionals.
COMPUTEX 2024: Registration to Exhibit is Now Open for this Global Business Opportunity Event
Registration for COMPUTEX 2024 is now officially open; an outstanding platform for businesses interested in expanding international markets, staying updated on the latest industry trends, and identifying potential supply chain partners. We warmly welcome participants in today’s tech, especially the fields of AI technology, system integration solutions, smart technology, and startups.
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News
China’s Ministry of Commerce announced that as of December 1, the export of graphite products will require permits, citing national security concerns. Graphite is a vital anode material in lithium-ion batteries, making it crucial for industries like electric vehicles and energy storage. China is the world’s largest producer of graphite, supplying over 67% of global natural graphite and more than 90% of refined graphite.
This move indicates China’s efforts to control critical mineral supplies, which is part of a broader trend as foreign governments, such as the EU, consider tariffs on Chinese electric vehicles due to perceived unfair subsidies, and the US expands restrictions on Chinese companies acquiring advanced semiconductor technology.
Natural graphite is considered a critical raw material by the EU, Japan, Canada, and the US. China’s major graphite buyers include Japan, the US, India, and South Korea. The International Energy Agency predicts a 20-25 fold increase in graphite demand from 2020 to 2040.
In response to the restrictions, the South Korean Ministry of Trade has held meetings with battery and materials manufacturers to discuss strategies for mitigating potential disruptions in lithium-ion battery production. Japan has expressed its intention to inquire further and consider appropriate measures if China’s actions violate World Trade Organization rules.
Before implementing these graphite export controls, China had imposed restrictions on gallium and germanium, affecting global prices for critical metals, starting on August 1. According to Chinese mainland customs data for September, export restrictions on gallium and germanium continue to impede the supply. In September, the export quantity of rolled germanium was 1 kilogram, while in August, it was zero. For both August and September, the export of rolled gallium was zero.
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