Trouble viewing this email?  View in web browser ›

The Wall Street Journal. The Wall Street Journal.
LogisticsLogistics

Charging Up Electric Supply Chains; Mining for Lithium Mineral Mergers

By Paul Page

 

A Toyota assembly plant in France in 2021. PHOTO: MICHEL SPINGLER/ASSOCIATED PRESS

Toyota’s bid to make up lost ground in electric vehicles will add to accelerating efforts to build supply chains to manufacture the cars. The Japanese automaker plans to spend an additional amount equivalent to about $7.4 billion on EVs through 2030, bringing Toyota’s total planned outlays for the period to around $37 billion. The WSJ’s River Davis reports the company’s new management aims to sell 202,000 EVs for the current fiscal year ending in March 2024, more than quintuple its sales from the previous year. That would bring Toyota closer to its goal of shipping 1.5 million EVs in 2026 and 3.5 million in 2030. The company has adopted a kind of hybrid approach to the burgeoning sector, but it has more leeway to operate as clearing supply-chain woes improve its finances. The company sees a 10% recovery in vehicle deliveries as semiconductor supplies normalize after pandemic shortages.

  • A.P. Moller-Maersk is building a logistics center near Hanover, Germany, for electric-car batteries. (Port Technology)
 
Advertisement
LEAVE THIS BOX EMPTY
 

Commodities

A lithium mine in Chile's Atacama Desert. PHOTO: RODRIGO ABD/ASSOCIATED PRESS

The drive to establish new supply chains for electric vehicles is triggering deal-making in the mining sector. Lithium producers Livent and Allkem plan to merge in a pact aimed at pushing more of the mineral critical to EV batteries to manufacturers at a faster pace. The WSJ’s Rhiannon Hoyle reports that the tie-up will create a global mining company worth $10.6 billion, illustrating how a surge in demand for the battery mineral is sparking a rush to do deals. The merger would bring together lithium mines and deposits in Canada, Australia and South America with a network of chemical-processing plants. Some of those are in the U.S. and China, where some of the world’s biggest manufacturers of electric vehicles are located. Benchmark Mineral Intelligence says the global market for lithium, once ignored by commodities traders, has skyrocketed from $1.6 billion in 2015 to $48 billion last year.

 
Share this email with a friend.
Forward ›
Forwarded this email by a friend?
Sign Up Here ›
 

Quotable

“Even though energy prices have come down and growth isn’t robust, pricing power and profit margins have been stronger than expected."

— JPMorgan Chase chief economist Bruce Kasman, on embedded inflation in the U.S. consumer economy
 
Advertisement
LEAVE THIS BOX EMPTY
 

Number of the Day

206

The DAT Solutions index for truckload volume in the U.S. spot market in April, down 15.5% from March and 12.3% below last year, and the lowest level for the measure since February 2021.

 

In Other News

U.S. consumer inflation eased in April in the 10th straight month of cooling price growth. (WSJ)

The U.S. is investigating whether Rockwell Automation is exposing critical U.S. infrastructure to a cyberattack through one of its China-based facilities. (WSJ)

More than $1 billion of European Union goods exports targeted by sanctions have disappeared in transit to Russia’s economic partners. (Financial Times)

California’s Port of Long Beach plans to establish a 400-acre wind power project for manufacturing and setting up large wind turbines. (Los Angeles Times)

Myanmar opened a container port on the Bay of Bengal built with backing from India. (Nikkei Asia)

Chinese ride-hailing company Didi Chuxing plans to produce autonomous vehicles with the Guangzhou Automobile Group. (South China Morning Post)

Daimler Truck upgraded its order outlook after first-quarter sales rose 12% and revenues jumped 27%. (Fleet Owner)

Truckload carrier C.R. England will work with Daimler Truck’s Torc Robotics to test autonomous refrigerated rigs. (Commercial Carrier Journal)

South Korea’s government cut its stake in Daewoo Shipbuilding & Engineering as the shipyard recapitalized under the private Hanwha Group. (Maritime Executive)

Norwegian commodities carrier Western Bulk is projecting a loss in the first half of the year. (ShippingWatch)

Bulk operator Pangaea Logistics earned a $5.1 million first-quarter profit on $113.7 million in revenue. (TradeWinds)

Officials in Victorville, Calif., scrapped plans​ for a large rail logistics facility. (Trains)

An industry survey says the median salary for supply chain professionals was up 3% early this year over last year. (Supply Chain Dive)

DHL Supply Chain is adding 5,000 mobile robots from Locus Robotics to its warehouses worldwide. (DC Velocity)

Quarterly revenue at GXO Logistics rose 12% to $2.3 billion while profits fell nearly a third to $25 million. (Logistics Management)

A Texas developer is building a 2.8 million-square-foot logistics center in San Antonio. (My San Antonio)

 

About Us

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.

 
Desktop, tablet and mobile. Desktop, tablet and mobile.
Access WSJ‌.com and our mobile apps. Subscribe
Apple app store icon. Google app store icon.
Unsubscribe   |    Newsletters & Alerts   |    Contact Us   |    Privacy Policy   |    Cookie Policy
Dow Jones & Company, Inc. 4300 U.S. Ro‌ute 1 No‌rth Monm‌outh Junc‌tion, N‌J 088‌52
You are currently subscribed as [email address suppressed]. For further assistance, please contact Customer Service at sup‌port@wsj.com or 1-80‌0-JOURNAL.
Copyright 2023 Dow Jones & Company, Inc.   |   All Rights Reserved.
Unsubscribe