Thailand's cabinet has approved a plan to raise the excise tax on imported battery-electric vehicles (BEVs) from 10% to 35%, a move aimed at shielding the domestic auto industry from a flood of Chinese-made EVs. The new rate takes effect on January 1, according to Industry Minister Varawut Silpa-archa, as reported by Chinese outlet D1EV on November 3. The tax hike is part of a broader effort to encourage local manufacturing.
Meanwhile, BYD has more than doubled its market share in Brazil in the year since it started local production, according to a statement the company provided to Bloomberg on November 3. In the first ten months of the year, BYD registered 193,227 vehicles in Brazil, a year-on-year increase of over 120%. Its market share rose to 9.7% in October, up from 4.2% a year earlier. October alone saw 24,114 registrations, a 137.6% jump from the same month last year.
Tesla's China-made sales accelerate; Schaeffler cuts jobs
Tesla's China-made EV sales grew 10.3% year-on-year in October, according to data from the China Passenger Car Association released on November 3. The Shanghai plant delivered 67,829 Model 3 and Model Y vehicles, including exports to Europe, Asia-Pacific, and Canada. This marks the twelfth consecutive month of year-on-year growth, though deliveries fell 28.9% from September. In Italy, Tesla registered 497 new cars in October, up 94% year-on-year, with a market share of 0.38%. In Portugal, registrations surged 186.1% to 412 units, according to ACAP.
German supplier Schaeffler announced on November 3 that it will close several European plants and cut 3,460 jobs, with about three-quarters of the reductions in Germany. The move, driven by weak demand for auto parts and high domestic costs, is expected to save about 300 million euros (about $336 million) annually from 2030, but will incur one-off costs of around 480 million euros. The company aims to address overcapacity and streamline operations.
Charging investment and battery supply chain
A study by Siemens, released on November 3, found that European cities will need to invest nearly 25 billion euros (about $27.9 billion) in charging infrastructure by 2030 to support the expected 3.8-fold increase in EV numbers across 64 cities in the EU and other European countries. Smart charging, which encourages off-peak charging, could cut these costs by 40%, or 10.6 billion euros.
In the battery supply chain, Citigroup has cut its lithium price forecasts for the next two years, citing slowing battery demand growth and trade uncertainties. The bank lowered its three-month price targets for lithium carbonate and lithium hydroxide to $12,000 per ton, and for spodumene to $1,200 per ton. Meanwhile, LG Energy Solution plans to expand its energy storage battery production in North America to meet demand from AI data centers, with capacity expected to exceed 50 GWh by year-end and 70 GWh next year.
UK battery recyclers are shipping crushed battery powder to China due to a lack of domestic refining capacity, according to Altilium COO Christian Marston. This dependency is straining the UK's EV supply chain, especially as EU regulations from 2031 will require new batteries to contain recycled materials.
