Baltimore Bridge Collapse Could Impact U.S. Inflation, Increase Supply Chain Risks & Tesla Partners with Chinese Battery Maker CATL & EV Makers Cut Prices to Avoid Bankruptcy

Here you will find trending news topics in the automotive and mobility markets around the world.

We carefully select interesting news in the automotive industry, both domestic and international, and translate and summarize the contents for your reference. We hope you will find it useful in catching up with the latest news in the industry.

Baltimore Bridge Collapse Could Impact US Inflation, Increase Supply Chain Risks

Mar 30, 2024

The March 26 bridge collapse in Baltimore closed a major U.S. auto and farm equipment hub and affected port operations and interstate highway traffic on the U.S. East Coast for months.While the impact on the global supply chain is expected to be minor, concerns arise for Maryland and the U.S. economy, especially as the Federal Reserve considers a rate cut in 2024.

The closure of the Port of Baltimore due to a collision with a Singapore-flagged container ship will affect imports of automobiles and agricultural equipment.Baltimore is crucial to these industries, handling approximately 850,000 vehicles annually and supporting 15,000 jobs.

The Francis Scott Key Bridge collapse will disrupt interstate commerce, affecting more than 12.4 million vehicles annually. This could lead to job losses, reduced business activity, and higher transportation costs for companies seeking alternative routes.

The disruption adds pressure to supply chains already strained by events such as the blockade of the Suez Canal and the delay of the Panama Canal, and highlights the vulnerability of global supply chains in the face of geopolitical conflict and natural disasters.

Source: Baltimore bridge collapse could impact US inflation, compound supply chain risks

Tesla partners with Chinese battery maker CATL

Mar 27, 2024

Tesla has partnered with CATL, a Chinese EV battery manufacturer.This is an important move as Tesla aims for a $25,000 car and sales expectations fall.

Analysts note that the partnership is groundbreaking for the growth of the U.S. EV market and leverages China’s battery surplus; CATL (Hyundai Amperex Technology Corporation) has confirmed that it will focus on faster charging batteries and will supply equipment to Tesla’s Nevada plant .

Analysts stress the need for U.S.-China cooperation to promote EVs, but amid expectations of challenging first-quarter deliveries, analysts such as Citi’s Itay Michaeli and RBC’s Tom Narayan have downgraded their outlook Analysts at HSBC are cautious about Tesla’s growth cautious stance, expressing concern about the timing of commercialization and declining growth. They note that Tesla’s rapid depreciation has affected rental companies such as Sixt SE and Hertz Global Holdings, but despite these challenges, Tesla’s stock has slumped relative to the S&P 500 index over the past year.

Source :Tesla joins forces with Chinese battery maker CATL, and it’s a “game changer” for this analyst

EV makers cut prices to avoid bankruptcy

Mar 28, 2024

California-based EV startup Fisker has cut vehicle prices to avoid bankruptcy after deals with other automakers fell through.The 2023 Ocean electric SUV lineup is powered by Fisker’s 2024 Ocean OS software version 2.0 and is significantly less expensive.

The manufacturer’s suggested retail price (MSRP) for the 2023 Ocean Extreme trim has been reduced from $61,499 to $37,499, the Ultra trim from $52,999 to $34,999, and the Sport from $38,999 to $24,999. These prices include additional options worth up to $7,000.

Fisker has positioned the Ocean SUV as a more affordable option and is constantly improving it through OTA software updates. However, industry analysts warn that Fisker could go bankrupt due to uncertainty about demand for EVs compared to Tesla’s popularity.

The New York Stock Exchange has decided to delist Fisker because its stock price is too low. After negotiations with an undisclosed automaker failed, Fisker is seeking a strategic alternative: the possible bankruptcy of CEO Henrik Fisker’s second automotive startup.

Source: EV maker slashes prices as it tries to avoid bankruptcy