CHANGE IN MANAGEMENT

VW's executive committee reportedly did not come to a decision on the future of its CEO, Herbert Diess. After clashes with IG Metall over VW's EV transition, he is under pressure to change his management style.

EXPANDING

Tesla will invest $188M to expand production capacity at its Shanghai, China assembly plant.

Extruded Aluminum Corporation is investing $30.4M into expanding its plant in Ionia, Michigan. The expansion will create 38 jobs.

Extruded Aluminum Corporation is investing $30.4M into expanding its plant in Ionia, Michigan. The expansion will create 38 jobs.

INDUSTRY DIRECTIONS

The infrastructure bill included $6B in grants to make batteries and materials processing. While there is a lot of ground to make up to even bring the US EV battery supply chain up to speed, the commitment has startups hopeful.

Sweden's Northvolt produced its first EV battery made with 100% recycled nickel, manganese, and cobalt.

Earlier this week, a server failure at Tesla caused an app outage that locked some owners out of their vehicles. The service outage occurred after an update to the app was rolled out.

Chinese automakers are beginning their descent onto the North American auto market by licensing American brand names and selling their vehicles at showrooms in Mexico.

LABOR

IG Metall is reportedly setting up a works council at Tesla's Gigafactory in Berlin, Germany. Tesla has avoided unionization efforts in the past.

MERGERS, VENTURES, ACQUISITIONS

Ford and Rivian have canceled their plans to co-develop a new EV.

Johnson Matthey will exit the EV battery materials market.

OPENING

Samsung is planning to build a new advanced chip plant in Taylor, Texas.

Dana broke ground on a new EV motor plant in Åmål, Sweden.

PRODUCTION DECREASE

Britain's October car output fell by an annual 41.4%, its lowest level since 1956.

Mexico's vehicle production is expected to drop by 5% in 2021. The economic impact of the semiconductor shortage is widespread. One in five automotive workers has lost jobs, with the rest seeing significant pay cuts.

RAW MATERIALS

Vietnam has a $5B stockpile of aluminum that it can't share with anyone.

Companies buying lithium for EV battery production are looking to secure longer-term contracts with producers as prices continue to rise. Current prices of lithium carbonate from China have been up 276% since the start of the year.

REGULATION

Canadian Prime Minister Justin Trudeau says he will keep pushing for a solution to the EV tax credits included in President Biden's infrastructure bill. Canada fears the credits may undercut its efforts to produce EVs.

SHUTDOWN

Audi shut down assembly lines at its Ingolstadt and Neckarsulm plants in Germany due to chip disruptions this week.