Member Info for jimb2

And EG1,

?

How the incumbent stood by while BYD grew into the the giant they are today, not cheaply built cars and leading battery tech:

U8 SUV 621 mile range - 0-60 3 secs, 124 MPH top speed 360 degree turn.

https://www.youtube.com/watch?v=p3DOb7_5SrE

Plus the mass market models look very impressive.

Indeed @Mullins58, things have been discussed on here on that for years, it's disruption a Kodak moment!

Https://www.bbc.co.uk/news/business-66820791

Https://www.ft.com/content/384fe8ff-cdb0-4cfe-a0b9-c4e9919d62a0

And as we were saying!

As prices fall, two thirds of global car sales could be EVs by 2030, study says

https://www.reuters.com/technology/prices-fall-two-thirds-global-car-sales-could-be-evs-by-2030-study-2023-09-14/

Not so long ago!

October 2020

Battery Electric Vehicle Sales to Make Up 31% of Global Market by 2030, Morgan Stanley Says. Why That Isn’t Higher.

https://www.barrons.com/articles/battery-ev-sales-to-make-up-31-of-global-market-by-2030-morgan-stanley-says-why-thats-not-higher-51603119432

July 2020

EVs to make up third of new cars sold globally by 2030:

Deloittehttps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/electric-power/072820-evs-to-make-up-third-of-new-cars-sold-globally-by-2030-deloitte

All unfolding as expected, that's a big jump one third to two thirds, how many more thirds to follow - I will stick with one more for fear of being accused of ramping, definitely not expecting more than three thirds by 2030.

Https://www.bnamericas.com/en/news/mexicos-plan-sonora-to-offer-3-tax-incentives

During his speech, Durazo also said that the Plan Sonora has become a platform that has sparked interest from top economies such as the US and Europe, in addition to other countries.

“The plan was presented in Cairo, in Taiwan, in Japan, in South Korea and we received in Puerto Peñasco 80 diplomatic delegations,” he said.

Also a posted on 12th:

Https://www.seaisi.org/details/23473?type=news-rooms

Ganfeng might be on the agenda later this month:

Sergio Kwiatek, political counsellor of the Mexican Embassy in China

Kwiatek says the governor of Sonora state will visit China later this month to further talk about “related issues.” He did not address the negotiations between Mexico and Ganfeng Lithium, the operator of the Sonora lithium project in northeast Mexico.

Remember there was no subsidies for Tesla to become involved in Sonora lithium and battery manufacturing.

As expected the narcissist is looking for a legacy at any cost:

https://www.bloomberg.com/news/articles/2023-09-14/mexico-s-populist-leader-abandons-austerity-to-investor-chagrin?leadSource=uverify%20wall

Correction $0.57M,

Https://planoinformativo.com/947342/litiomx-recibiria-su-primer-presupuesto-en-2024/

L1ti0Mx would receive its first budget in 2024 El Financiero | 09/12/2023 | 17:59

$5.7M funding by next year and no mention of private investment although very ambiguous.

@Zoom56,

lithium the new oil!

https://www.offshore-technology.com/news/chevron-repsol-exploration-mexico/

Chevron, Repsol to quit offshore exploration blocks in Mexico

The two companies secured the offshore oil and gas exploration blocks in the Gulf of Mexico in a tender process.

According to Mexico’s hydrocarbon commission officials, Chevron was granted approval to return an undisclosed deepwater block off the coast of Tabasco, as it considers the area to hold “no favourable prospects”.

Confirming the latest decision, Chevron said it would maintain an office in Mexico. It will also continue to monitor the country’s industry developments.

#####

U.S. energy and power companies, such as Chevron(CVX.N) and Marathon Petroleum (MPC.N), which sought to expand in Mexico, have complained that they have been denied simple permits and applications in decisions that favored state oil company Petroleos Mexicanos (Pemex) and national power utility Comision Federal de ..

#####

https://www.reuters.com/business/energy/biden-administration-moving-escalate-energy-trade-dispute-with-mexico-2023-09-06/#:~:text=U.S.%20energy%20and%20power%20companies,power%20utility%20Comision%20Federal%20de

Sept 6 (Reuters) - President Joe Biden's administration has asked U.S. energy companies to prepare affidavits documenting how Mexico’s protectionist policies disrupted their investments as Washington prepares to escalate a trade dispute with its neighbor, according to three people familiar with the discussions.

https://latam-investor.com/2023/08/spains-faltering-mexican-reconquista/

Mexico looks likely to benefit from nearshoring as international firms attempt to reduce their exposure to China by shifting supply chains elsewhere. Mexico is an obvious nearshoring destination, given its geographical position on the doorstep of the US market and relatively cheap labour costs. Spanish companies are keen to get involved. After all, the two countries also share extensive historical, commercial and cultural ties and speak the same language. Yet recent developments have many Spanish firms, particularly in the energy sector, viewing Mexico with caution.

And a curved ball:

https://www.reuters.com/sustainability/chevron-buys-majority-stake-utah-hydrogen-project-2023-09-12/

HOUSTON, Sept 12 (Reuters) - U.S. oil major Chevron Corp (CVX.N) on Tuesday said it has acquired a majority stake in the world's largest proposed storage facility for hydrogen from renewable energy.

U.S. majors Chevron and Exxon Mobil (XOM.N) are rushing to lower production costs and bring scale to the technology as part of their lower carbon fuel strategy.

** a bit of a mix 'n' match** but I don't believe A_L.O is going to reach September 2024 without being exposed as a deliverer or destroyer!

All this could go against the Morena party re-election

Well put @Zoom56,

timeline, the last I recall from Ganfeng prior to the mining laws in April 2022 and then in August the IRA:

https://newsrnd.com/news/2022-03-15-ganfeng--%22we-are-going-to-continue-in-sonora-because-the-laws-of-mexico-allow-lithium-to-be-exploited%22.rJfzAYYpZq.html

The Chinese giant considers that given the absence of a lithium industry in the country and the technical and metallurgical processing complexity of the deposit, they are the only ones that can provide the knowledge and technology necessary for the operation.

The Sonora project has so far cost 50 million dollars and the mining company plans to spend another 3,000 in the extraction and manufacture of batteries in the future.

Of that amount, around 1,000 million will arrive "in the next five years," they say.

“Our plan is to have a company that dominates the entire lithium value chain in Mexico: that not only includes the mine, but also the production of batteries and their recycling.

We are the only company in the world that combines lithium mining, mineral processing, battery manufacturing, cells and battery recycling”,

points out the Chinese giant.

Https://mexicobusiness.news/mining/news/defenses-against-amendments-mining-law-mexico

worth a read:

Also, during the session of the Chamber of Representatives on April 28, certain questions arose, given that the attendance and voting lists of senators drew attention to the names of two individuals: one listed person is not a senator but rather a maintenance worker in the building, and another person could not be found in the Senate's records, suggesting that this person does not exist; therefore, two individuals among the attendees of that session lacked the legal authority to attend the session and vote on the corresponding initiative.

Thanks @Zoom56,

Mexico are at a point in time where they can secure prosperity for the nation through legitimate trade if they can overcome the corruption. I can't bring myself to spell this mans credentials correctly A_L.O - an unfortunate anagram LMAO - cringe!

@Huinhwa,

I'm open minded about where things will go with Mexico, KM can only comment on the published BCN and Ganfeng Sonora plans that are now very outdated, the inflation reduction act wouldn't have been factored into those plans - the question is how much of a gamble are the Mex gov willing to take on trade disputes and international courts.

https://www.reuters.com/business/energy/biden-administration-moving-escalate-energy-trade-dispute-with-mexico-2023-09-06/

Plus the underhand way the mining laws were passed.

One of the two battery manufacturers at the meeting last week:

The representatives included Francisco Acuna, chairman of Sustainable Development Committee of Sonora, Mexico, and Sergio Kwiatek, political counsellor of the Mexican Embassy in China. Besides representatives from CIAPS, some representatives of Chinese enterprises including Tianjin Lishen Battery and Jeve Battery also joined discussions on investment and cooperation in the new energy field.

Tianjin Lishen Battery Joint-Stock Co. Ltd. is one of the largest Lithium Ion (LIB) battery manufacturers in China. It is situated in the Tianjin Huayuan Hi-Tech Industry Park covering an area of 85,000 sq.m.

Since 2004, its annual production capacity has been over 200 million cells. This has comprised more than 100 different specifications, ranging from cylindrical LIB to prismatic LIB, laminated LIB and LIP. Lishen is one of the world’s top suppliers of lithium-ion batteries. Their reputation for high product quality has earned them prestigious customers like Apple Computer, Motorola, ESG, Samsung, and other top electronics and automotive firms

@EV_Bull, it must be hitting a nerve with those involved in the mex gov decision making process, the industry isn't standing still gigafactories are everyday news and no sign of progress from Lit0mex in over a year.

Again we see disruption in play:

"We have already announced about 250 gigawatt hours of capacity around the world. We believe we need to go to 400 gigawatt hours of capacity around the world," Bly said during the inaugurating the group's new Battery Technology Center in Turin, Italy.

https://www.reuters.com/business/autos-transportation/stellantis-build-more-gigafactories-top-those-already-planned-2023-09-08/#:~:text=MILAN%2C%20Sept%208%20(Reuters),propulsion%20systems%20said%20on%20Friday.

I did wonder why China has been so distant on the subject, it looks like Durazo will have some explaining to do when he meets in China - how much is at stake.

I'm not sure Mexico can have secure supply of EV components without Chinese companies especially battery chemicals - electrolytes, films etc.

Imagine if China announced an embargo with so much dependency on them.

Https://www.seaisi.org/details/23473?type=news-rooms

Ganfeng might be on the agenda later this month:

Sergio Kwiatek, political counsellor of the Mexican Embassy in China

Kwiatek says the governor of Sonora state will visit China later this month to further talk about “related issues.” He did not address the negotiations between Mexico and Ganfeng Lithium, the operator of the Sonora lithium project in northeast Mexico.

The North American government decided to cancel nine lithium mine concessions related to the project following its lithium nationalisation in February. Ganfeng said recently the cancellations aren’t final and that, at this point, it is unclear whether the changes may lead to asset impairment losses and other negative impacts. The company didn’t seem to be involved in this week’s meeting in Beijing.

Https://www.reuters.com/world/americas/mexicos-ebrard-lodges-complaint-over-morena-process-eyes-new-movement-2023-09-11/

it's so corrupt you have to wonder how they are getting the nearshoring deals in place with what could become a volatile situation -A_L.O's gov are rotten to the core,

yet a tripling in investment?

https://www.reuters.com/business/autos-transportation/tesla-suppliers-invest-15-bln-mexico-factory-local-governor-2023-09-12/

@REMmakemerich,

Well, something caused a tick up today and the only news was on Amapa - are you suggesting that wasn't connected?plus they are in talks with interested parties so news on that could land.

I doubt the PFS executive summary was solely for the convenience of PI's.

Re Sonora. the mining law vote was done illegally, but true the winner might be an issue:

https://www.forbes.com/sites/eliasferrerbreda/2023/09/11/energy-transition-what-can-we-expect-from-mexicos-sheinbaum/

Sheinbaum has been a leading voice behind mining and energy policies, notably the nationalisation of lithium. She has made declarations that it is crucial for the state not only to lead in extraction, but also manufacturing of metals. Multinational corporations are not sure how this will play out, and what will be their role partnering with the state

There's great deal of work gone into this:

As part of the ongoing engagement with potential investors, we have also released an executive summary of the previously announced PFS, which is available here - link:

https://www.cadenceminerals.com/wp-content/uploads/2023/09/Executive-Summary-PFS-AMAPA-KDNCs.pdf

Https://www.bbc.co.uk/news/business-66745660

@Barksy1 - positive for UK jobs!