Category: Manufacturing

BusinessManufacturingTechnology

Rivian CEO Reveals Insights from Xiaomi SU7 Teardown, Cites Macroeconomic Factors in China’s EV Dominance

In a recent interview, Rivian CEO RJ Scaringe shared his assessment of Xiaomi’s highly popular SU7 electric sedan after a company teardown. While praising the vehicle’s execution, Scaringe emphasized that China’s EV success stems from macroeconomic factors rather than technological secrets. The CEO described the competitive landscape as calculable rather than magical.

Rivian’s Benchmarking Exercise Reveals Chinese EV Manufacturing Realities

Rivian CEO RJ Scaringe recently disclosed that his company conducted a detailed teardown of Xiaomi’s popular SU7 electric vehicle, according to reports from Business Insider. The exercise, described as standard industry practice for benchmarking competitors, provided the American EV manufacturer with insights into China’s rapidly evolving electric vehicle market.

by Priya Kapoor
EnergyManufacturingPolicy

Federal Government Withdraws $700 Million in Battery Manufacturing Grants Amid Project Reviews

The U.S. Department of Energy has terminated over $700 million in grants for battery and manufacturing initiatives, stating the projects failed to meet key milestones. Companies affected include ICL Group and American Battery Technology, with broader cuts anticipated across the clean energy sector.

Grant Terminations Announced Following Project Evaluations

The Department of Energy (DOE) has reportedly canceled more than $700 million in grants previously allocated to battery and manufacturing projects, according to recent statements. A spokesperson indicated that the initiatives had missed critical milestones and were deemed insufficient in advancing national energy objectives. Sources within the agency emphasized that the projects were not economically viable and would not yield a positive return on taxpayer investment.

by Priya Kapoor
BusinessManufacturing

Cleveland-Cliffs Executives Report Strong Steel Market Recovery Led by Automotive Sector

Cleveland-Cliffs executives report a substantial recovery in domestic steel demand, particularly from automotive customers. The company’s financial leaders point to changing user behavior following trade measures and have secured significant property sales.

Steel Manufacturer Reports Market Improvement

Executives at Cleveland-Cliffs, a major player in American steelmaking, have indicated they are witnessing what they describe as a significant rebound in domestic steel demand. According to reports from the company’s third-quarter earnings discussion, this recovery appears to be gaining momentum several months after the implementation of new trade measures.

by Priya Kapoor