Short Torque

Export controls spark US chips warning

Chinese industrial associations have voiced strong opposition to the United States' latest control measures on semiconductor exports and urged domestic firms to exercise caution when purchasing US chips. The China Association of Automobile Manufacturers and three other associations on Tuesday released statements respectively, saying that they firmly oppose the US abuse of export control measures. The US's arbitrary control measures against China have caused disruptions in the supply chain and increased operating costs for American companies, affecting the stable supply of US chips and making them no longer secure and reliable. As a result, related Chinese industries have to exercise caution when procuring chips from the US. The CAAM said it welcomes global chip companies to strengthen their collaboration with Chinese auto and chip enterprises and share development opportunities.

Falling NEV demand hits hard in Germany

New car sales in Germany dropped in November, driven by a sharp fall in demand for electric vehicles, official data showed on Wednesday, a further sign of the troubled EV transition. A total of 244,544 vehicles were registered in Europe's biggest auto market in November, down 0.5 percent from 2023, the KBA federal transport authority said. Apart from an uptick in October, new car sales in Germany have been trending down for months. In November, sales of EVs plunged by nearly 22 percent, with EVs making up around 14 percent of the total — down sharply from the average in 2023. After many years of growth, demand for EVs in Germany has been slowing since the phaseout of government subsidies at the end of 2023.

Shortages affect S Korea figures

South Korea's imported car sales fell for the second straight month due to a supply shortage of some models, industry data showed on Wednesday. The number of imported vehicles sold there slipped 3.9 percent from 2023 to 23,784 in November, according to a local auto trade association. The consecutive slump was attributed to the supply shortage of some luxury models. For the first 11 months, imported vehicle sales slipped 1.7 percent to 239,764 units compared to the same period of 2023. BMW ranked first in terms of sales among foreign automakers by selling 6,665 units in November. Mercedes-Benz came next with 5,086 units.

China leading global battery shipments

CATL and BYD together accounted for more than half of global power battery shipments in the third quarter, according to data released by South Korean market research firm SNE Research. The global power battery shipments amounted to 258.5 gigawatt-hours during the period. Among which, CATL shipped 91 GWh of EV batteries, continuing to rank first worldwide with a 35.2 percent share. BYD's battery manufacturing unit, FinDreams Battery, ranked second with a 17 percent share of 44 GWh of EV batteries shipped in the third quarter. The two Chinese companies shipped a combined 135 GWh in the third quarter for a combined 52.2 percent share. South Korea's LG Energy Solution shipped 29 GWh, ranking third with an 11.2 percent share.

Stellantis CEO abruptly resigns

Stellantis Chief Executive Carlos Tavares resigned abruptly on Dec 1, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40 percent of its value this year. The company said it would seek to find a replacement CEO in the first half of 2025. It said in a statement the decision for Tavares to leave resulted from different views emerging in recent weeks among major shareholders, the board and Tavares. Sales were down 17 percent across its six brands through the third quarter of 2024.

Agencies - Motoring