Toyota announced it produced a total of 833,104 vehicles in November, a record for the month, constituting an increase of 1.5% YoY. Sales grew by 2.9% YoY to 796,484 units. More: - Growth in sales was driven by North America and pent-up demand from Southeast Asia following the impact of COVID-19 on the supply chain.
- Toyota is warning of an uncertain outlook as it remains impacted by the global semiconductor shortage and COVID-19 restrictions in China.
- The automaker's domestic production decreased by 3.3% to 266,174 vehicles, while its vehicles built overseas rose by 3.8% to 566,930.
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FedEx revealed it will increase its reliance on third-party air cargo operators as part of a $1B plan to curtail costs, following lower-than-expected demand. The carrier plans to specifically save $400M in global air network optimization via the deployment of physical assets to balance its fleet and the growing reliance on external air cargo companies. More: - FedEx revealed in September a $2.7B plan to prevent costs by closing offices, cutting delivery on Sundays, grounding aircraft, and letting go of Freight drivers.
- The carrier has the world's largest air cargo fleet, comprising 714 aircraft, of which 286 are turboprops for regional delivery.
- Boeing is scheduled to deliver eight 777 and 38 767 freighters within the next two and a half years.
- FedEx is reducing its Capex to $900M from a previous estimate of $5.9B for the fiscal year.
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Chinese EV company NIO is lowering its guidance for the fourth quarter, estimating deliveries to range between 38,500 to 39,500 units, from the 43,000 to 48,000 vehicles previously projected. NIO attributes the lower sales estimates to a production slowdown stemming from parts shortages due to COVID-19 restrictions in China. More: - NIO experienced a 30% YoY increase in sales for November, for a total of 14,178 units; however, its sales of crossovers and SUVs decreased by 26% YoY to 8,003 vehicles.
- At the beginning of the month, the company had sold ~106,000 vehicles YTD, 25,915 of which were the ET5 and ET7 sedans.
- Last week, the EV maker released two new electric SUV models, the EC7 and the ES8, with expected deliveries in May and June.
- $NIO was down 3.48% for the day on Wednesday morning.
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German energy company ADS-TEC Energy revealed its plans to install a production facility for fast chargers for electric vehicles in Auburn, Alabama. The company is investing $8M in the facility, where it plans to create 180 jobs. More: - The company expects the Auburn location to be fully operational by 2024.
- Earlier this month, ADS-TEC announced ChargePost, a battery-based fast-charging system for up to 300 kW of power. The company plans to make the charger available in the U.S.
- $ADSE has been undergoing a drop in its stock price, standing at -66.74% YTD on Wednesday morning.
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SK Innovation revealed it is planning to work on lithium battery recycling with SungEel HiTech in South Korea. The companies plan to begin recovering nickel, cobalt, and manganese starting in 2025. More: - SK Innovation has been testing the materials recovery process since 2017, having set up a scale pilot plant at the Institute of Environmental Science & Technology in Daejeon.
- "Recycling metals from end-of-life batteries is a crucial new business in implementing SK Innovation's 'Carbon to Green' financial story and expanding its eco-friendly business portfolio," said Kang Dong-soo, head of portfolio at the company.
- SungEel is the sole company working on cobalt, nickel, manganese, and copper recovery from lithium-ion batteries in South Korea.
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The city of Wiesbaden, Germany, revealed it is removing its hydrogen buses from circulation and ending its fuel-cell program as its $2.44M fueling station broke down. Portuguese company Caetano began delivering the first fuel-cell buses to ESWE Verkehr in Q3 2021. More: - The hydrogen fuel-cell buses were funded through €1.95M ($2.07M) from the EU’s Clean Hydrogen Partnership and €1.68M ($1.78M) from the German government.
- The hydrogen fuel-cell buses will be replaced with diesel-based vehicles until 2024.
- Earlier this month, the city of Duisburg, Germany, voted in favor of a €91M ($96.69M) plan to purchase 100 hydrogen buses.
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- Stellantis is negotiating its investment in Symbio, a hydrogen fuel-cell joint venture with Faurecia and Michelin.
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 |  | Nicolas is a Sr. Analyst at Inside, covering transportation and IT trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped startups. |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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