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India blocks $1bn bid by China’s BYD citing national interests
India has blocked a $1bn (7.19bn yuan) bid by Chinese carmaker BYD to set up an electric vehicle factory in partnership with a local company. The Indian Government dismissed the plan from BYD and Hyderabad-based Megha Engineering and Infrastructures, citing national security concerns. The move came three days after the Australian Government also blocked investment from a China-linked company to take over one of its lithium mines.
Silicon Power Group to build silicon carbide plant in India
Silicon Power Group, a US-based semiconductor manufacturer, is to build a $121.73m (Rs10bn) silicon carbide plant in Odisha state, India. The plant will make 150mm silicon carbide for use as a component in semiconductors. The investment will be channelled through Silicon Power Group’s India subsidiary RIR Power Electronics.
TotalEnergies fully acquires renewables company Total Eren
French oil giant TotalEnergies announced on Tuesday the complete takeover of renewables producer Total Eren, taking its share in the company from just under 30% to 100%. The deal follows an agreement signed between the two companies in 2017. Teams at Total Eren will be fully integrated into the company’s renewables business unit.
ExxonMobil in talks with Tesla, Ford, Volkswagen on lithium supply chain
Oil and gas giant ExxonMobil is in talks with major carmakers Tesla, Ford and Volkswagen, as well as other automakers, about lithium supply chains as the company moves to build a business around the critical electric vehicle (EV) battery metal. According to reports, talks with potential buyers of Exxon’s future lithium supply are still in the early stages.