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Faraday Future partners with Korea-based Myoung Shin for FF 81 production; SOP in 2024

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an automotive manufacturer headquartered in South Korea, to manufacture Faraday Future’s second electric vehicle, the FF 81, with start of production scheduled for 2024. Located near Seoul, South Korea, Myoung Shin is a parts supplier and automotive manufacturer for numerous first tier OEMs.

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Hyundai, Kia agree to pump $16.5bn into EV production in South Korea

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billion to produce electric vehicles at a new factory in South Korea. The factory ultimately would increase annual EV production in South Korea to 1.44 million vehicle capacity by 2030 would account for about 45 percent of the two companies’ global EV production volume by that year, Automotive News reports.

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Qorvo and SK Siltron CSS enter long-term silicon carbide (SiC) supply agreement

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Qorvo, a global provider of connectivity and power solutions, and SK Siltron CSS, a semiconductor wafer manufacturer, finalized a multi-year supply agreement for silicon carbide (SiC) bare and epitaxial wafers.

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Business West in MoU with Korean AMRC to contribute to growth in hydrogen technologies

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Under the terms of the agreement, Business West and AMRC will identify, support and connect manufacturers and innovators to share expertise, initiate collaborative R&D projects, and accelerate the joint development of this important technology. South Korea has a goal of 6.2 million hydrogen-powered vehicles on its roads by 2040.

Hydrogen 170
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GlobalData: Global battery energy storage market to grow by 7% to reach $13.13B by 2023

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The global battery energy storage market will to grow to $13.13 The US market for battery energy storage is estimated to reach $2.96bn in 2023, accounting for 23% of the global market. The EMEA battery energy storage market registered a market value of approximately $1.73bn in 2018 and it accounted for 26% of the global market.

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bp to enter German offshore wind market with 4GW auction win

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bp will lead the development, construction and operations of these fixed-bottom offshore wind projects, with grid connection targeted by end 2030. bp’s global offshore wind pipeline now totals up to 9.2GW net to bp.

Wind 150
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Navigant forecasts global smart urban mobility market to hit $25.1 billion in 2024

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The global smart urban mobility infrastructure and services market is expected to grow from $5.1 These are the technologies or services that increase the connectivity of urban mobility, with the potential to support new forms of cross-functional integration (e.g., billion in 2015 to $25.1 EV charging and utilities).

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