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Elm Analytics - Automotive Supply Chain Risk Digest #244 - October 8 - 14, 2021
For the first time in the US, Toyota has passed GM in terms of market share. GM's market share fell to 13.1%, while Toyota's was 16.5% for the third quarter.
The semiconductor and coal shortage dropped Chinese auto sales by nearly 20% in September.
Stellantis is converting its Turin, Italy factory to assemble EVs. The plant currently produces the Fiat NEW 500 EV and will add Maserati models.
Bridgestone unveiled its expanded tire manufacturing plant in Cuernavaca, Morelos, Mexico. The company added 194k sq ft to its facilities with new machinery to increase production by 15%.
Honda announced this week that it will only sell EVs in China after 2030. The automaker is planning to introduce ten new EVs within five years.
Hyundai announced this week that it is working on developing its own chips to cut reliance on chipmakers. Hyundai's COO Jose Munoz added that the worst has passed for the industry's chip shortage.
ZF Friedrichshafen AG agreed to recognize UAW representation at its axle plant in Marysville, Michigan.
MERGERS, VENTURES, ACQUISITIONS
FREYR Battery and Koch Strategic Platforms formed a JV to create a 50GWh Gigafactory in the US.
EV battery startup Italvolt has signed a deal with ABB as part of the project planning for its new factory in northern Italy. ABB will also assist in designing and developing other solutions for the plant.
GM says that its US plants shut down by the chip shortage will reopen by November 1.
Canada's Rock Tech Lithium has announced it will build a new plant in Brandenburg, Germany. The plant will make battery-grade lithium hydroxide for EVs.
SAIC-VW began work on its Changsha facility in the Hunan province in China. The NEV project will be built on VW's MEB platform and will produce 100k vehicles annually. The facility will also build 150k battery sets per year.
Taiwan Semiconductor Manufacturing Co. announced that it would build a plant in Japan. The plant will be the company's first in the country.
BorgWarner broke ground on a new plant in Viana do Castelo, Portugal. The facility will manufacture EV motors, inverters, and battery management systems.
BMW increased annual output at its San Luis Potosi plant in Mexico by 42%. Yet, production in September was down 37% compared to 2020.
China's Ganfeng Lithium is raising prices by $15,500/ton starting next month due to higher production costs amid China's power supply shortages.
Ford shut down its Hermosillo plant in Mexico due to a supply chain disruption today.
Audi shut down production lines at its Ingolstadt and Neckarsulm plants in Germany.
LG is going to reimburse GM up to $1.9B relating to the Chevy Bolt recall. GM has recalled every Bolt produced due to a fire risk.
European carmakers have been racing to secure battery cell supplies, but finding enough battery raw materials may be the bigger problem.