Hi, Yves. I don’t think it’s hard for readers to correct the product-oriented leanings of this article. However, it oddly misses a key point: the main reason for the slow adoption of electric cars is cost. But the US doesn’t allow China to sell them at the same low prices as they are sold in other countries. Of course, that’s not the only obstacle: grid capacity, still not enough charging stations, and buyers’ preference for hybrids (still an improvement over conventional cars) also contribute to the slow adoption.
It is brazen, but not surprising, that the US has come up with a security pretext to further curb Chinese car sales, especially those of self-driving cars. It is easy to imagine the US expanding its information/communication controls on software, further restricting market access and product competitiveness. I am being overly optimistic, but what if China counters by advertising spyware-free cars as cheap and safe?
An article from MetalMiner, the largest metal-related media site in the United States. Oil prices
- Contrary to expectations, the electric vehicle revolution has not significantly boosted overall metals demand, with prices of key metals such as lithium, cobalt and nickel remaining lower than expected.
- Several factors, including the high cost of EVs, limited charging infrastructure, and range anxiety, have contributed to EV adoption rates being slower than expected.
- Slowing growth in EVs has broad implications for the metals industry, climate goals and even national security, with the United States considering banning Chinese software in self-driving cars over cybersecurity concerns.
Automotive MMI (Monthly Metals Index) maintained a steady sideways trend month-on-month, declining only 2.53%. Steel demand remains weak overall, with little bullish sentiment remaining for hot-dip galvanized steel sheets. Meanwhile, prices of other metals, including copper, fell after a speculative rally cooled in July. Overall, components of the automobile index showed little bullish price movement, with metal prices remaining roughly flat.
The automotive market has only added marginal support to most metals as demand remains fairly weak overall, with metals such as copper and rare earths failing to get the boost they need as EVs continue to fall short of expectations.
Weakening EV demand leads to stronger-than-expected metal prices
In recent years, experts have predicted that the “electric vehicle revolution” would drive up both metals demand and prices, especially for rare earth elements and key raw materials such as lithium, cobalt and nickel. However, the U.S. metals market continues to suffer from weaker-than-expected EV demand.
Several factors have prevented EV adoption from surging at the expected pace. High EV costs, limited infrastructure to charge EVs, and persistent consumer concerns about range continue to impede market growth. Overall, consumer acceptance of electric vehicles has not kept pace with the production volumes of automakers such as Tesla, Ford, and General Motors.
Metals markets are being hit harder than others by the slowdown in EV demand. EV batteries require large amounts of lithium, cobalt and nickel. However, with EV production rates falling short of forecasts, global demand for these critical raw materials continues to decline. In the case of cobalt and lithium, this has created oversupply, causing stagnant prices and discouraging investment in new products. Mining work.
Slowing EV growth could hinder climate goals and rising metals prices
The impact of slowing EV growth is not limited to these metal components: Reduced demand continues to negatively impact the manufacturing and processing sectors of the metals industry. Manufacturers of EV infrastructure and battery components, for example, are also experiencing slower growth, impacting the labor market and economic activity in regions that rely on these businesses.
Another problem is that the expected environmental benefits of EVs becoming mainstream are lagging: Fewer than expected EVs on the roads mean efforts to reduce greenhouse gas emissions are falling short of target, putting larger climate goals at risk.
Weakening demand for electric vehicles in the United States is a reminder of the challenges that come with adopting any new technology. While the electric vehicle revolution is still in its early stages, its trajectory has proven to be less straight than expected. This fact has important implications for metals markets, which had hoped for a significant increase in EV demand. Going forward, stakeholders will need to recalibrate their expectations and plans as they navigate this shifting landscape, so that both are in line with actual market trends.
Will US cars restrict Chinese software?
The United States is considering banning certain types of Chinese software in self-driving cars, a decision driven by growing security concerns that could be a game changer for the automotive and technology sectors.
National security and data security have become increasingly of concern in recent years, and most self-driving cars rely on complex software systems to operate, making them vulnerable to hacking by a variety of bad actors.
Meanwhile, the use of Chinese software raises even greater concerns as these cars collect vast amounts of data, potentially including personal and location information. Authorities are worried that foreign entities could access and use this data, putting users’ privacy at risk. International Security.
The possibility of cyber attacks and security breaches remains a major concern, as well as the possibility that Chinese government legislation could require Chinese software companies to provide sensitive data to the government. This raises major concerns because autonomous vehicles are not just a transportation innovation but also an integral part of infrastructure.
Eliminate the possibilities Chinese Software Gaining access to classified information would strengthen both national security and critical infrastructure, underscore the importance of protecting digital systems from external attacks, and set a precedent for other tech companies.
Strengthening cybersecurity to prepare for possible China software crackdown
Banning certain types of Chinese software could also boost economic growth by incentivizing U.S. companies to develop their own software solutions for autonomous vehicles, leading to increased research and development spending, which could lead to more competitive technology sectors in which U.S. companies take the lead in development. Cutting edge technology.
Moreover, the ban could strengthen ties with other countries that have similar concerns about Chinese technology. If that were to happen, the United States and its partners could unite against possible cyber threats by exchanging best practices and cooperating on security measures. Beyond the automotive industry, this cooperation could also have implications for defense and security more generally. Technology Planning.
