BERLIN—Volkswagen plans to invest in mines to bring down the cost of battery cells, meet half of its own demand and sell to third-party customers, the carmaker’s board member in charge of technology said. Its strategy aligns with a wider trend of carmakers seeking greater control over parts of the supply chain traditionally left to…
Volkswagen to Invest in Mines in Bid to Become Global Battery Supplier
Struggling Aerospace Suppliers May Not Be Able to Support Jet Output Hikes: Survey
Meeting Boeing Co. and Airbus SE’s planned jet output hikes this year will not be a “slam dunk” for the aerospace supply chain, a Morgan Stanley survey of 80 suppliers showed on Thursday. While the aerospace sector seeks to speed up its recovery from a pandemic-led slowdown as a travel boom spurs demand for jets,…
World Hoped to Crucify Top Oil Supplier, Saudi Says
SHARM EL SHEIKH, Egypt—The world was hoping to crucify Saudi Arabia as a top oil exporter, its energy minister said on the sidelines of the COP27 summit in Egypt, adding the kingdom would be closely monitoring other countries’ energy policies. Setting out what he said were Saudi Arabia’s steps to produce cleaner energy and reduce…
Tesla Supplier Looks to Invest $5B on EV Batteries, Supply Chain Software
Tesla Inc. battery supplier Panasonic Corp. looked to invest ¥600 billion ($4.9 billion) in automotive batteries, supply chain software, and other areas it considered core to its growth. Panasonic looked to invest ¥400 billion in growth segments, including electric-vehicle cells, and another 200 billion yen in hydrogen device technology over three years through fiscal 2024. Panasonic targeted an…
Apple Supplier Foxconn Cautious on 2022 Revenue Outlook
November 12, 2021
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TAIPEI—Apple supplier Foxconn forecast on Friday that a global chip shortage would run into the second half of 2022 and its fourth-quarter revenue for electronics, including smartphones, would fall more than 15 percent. Chairman Liu Young-way said during a conference call that Foxconn was cautious about its 2022 revenue outlook, citing uncertainties surrounding the coronavirus…
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