Cobalt industry cycle bottom gradually appearing, capacity begins to clear" Since the beginning of this year, the downward trend of cobalt prices has slowed down, showing a basic "holding steady" trend. Reporters from Caixin learned from multiple industry sources that currently, cobalt prices are struggling up and down at the cost end, and are near the bottom of the cycle; with the clearance of production capacity, the cobalt market will return to a reasonable state of relative supply and demand balance. Although there are still expectations of excess supply in the cobalt market in the short term, most respondents hold a relatively optimistic attitude towards the long-term trend.

Europe's automakers and their already-stretched suppliers face a tough year as they race to cut costs for electric models to counter leaner Chinese rivals which are bringing cheaper vehicles to challenge them on their home turf…A big question is how much more Europe's automakers can squeeze out of suppliers that have already started laying off workers, with many smaller companies hard hit by supply chain issues during the pandemic…Unlike European automakers that are reliant on external suppliers with separate supply chains for fossil-fuel and electric, their Chinese rivals are highly vertically integrated, producing almost everything in-house and keeping costs down…That helps them undercut their European rivals. In Britain, BYD's electric Dolphin hatchback starts at 25,490 pounds ($32,300), about 27% less than Volkswagen's equivalent ID.3 model. Tesla works in the same way…The challenge has been made more difficult by a slower-than-expected shift to EVs, leaving legacy automakers stuck with their dual supply chains. Data this week showed EU fully-electric car sales in January fell 42.3% from December…That means Europe's automakers face a delicate balancing act between cutting costs to fend off Chinese rivals and avoiding pushing their suppliers too far. Philip Nothard, insight director at dealer services firm Cox Automotive, says automakers may even have to step in to bailout struggling suppliers.

U.S. automaker General Motors on Monday unveiled its luxury electric Cadillac Lyriq in France, an expansion of its market in Europe after returning last year and a test of whether online-only sales will attract wealthy car buyers…In October GM announced it was launching sales in Switzerland, the first step in an all-electric return to European markets since selling off the Opel and Vauxhall brands in 2017…Unlike in its home market where it relies on a large dealer network, European customers can customise and purchase their Cadillac EVs entirely online…"When you look at the battery electric vehicle market in France, it is the luxury market that grew to the greatest extent," McQuaid said. "The luxury market is where the focus is right now."…Cadillac also plans a showroom in Paris and the Lyriq can be ordered online from March 23. The luxury EV is due to launch in other European markets, starting with Germany by year-end.

MG Motors, a unit of China's SAIC on Monday unveiled its hybrid hatchback MG3 model for the European market, taking advantage of slowing growth demand for electric vehicles by offering a lower-emission model without the need for charging…MG said that the MG3's battery is larger than that provided by rival models, enabling to run emission free for longer. The model has so far only been on sale in the United Kingdom…Legacy automakers have been racing to switch to EVs as quickly as possible and make them more affordable as Chinese EV makers start launching lower-cost models in Europe…Demand for EVs has slowed because of a lack of affordable models and the slow rollout of charging infrastructure.

BYD, the world's largest electric-vehicle (EV) maker, has started taking orders for the Yangwang U9, pricing the all-electric supercar at 1.68 million yuan (US$233,400), as it tries to lure rich Chinese consumers away from high-end foreign carmakers such as Ferrari and Lamborghini…The U9, which can reach a top speed of 309 kilometres per hour, is expected to be delivered to buyers in the middle of 2024, helping the Shenzhen-based company, better known for making mass-model EVs, to showcase its design and manufacturing heft…"Yangwang U9 will enable you to taste the excitement when you drive it on racing tracks or on city streets," BYD said on the microblogging site. "It marks the beginning of a new era when fully electric supercars become a choice [for customers]."….A comparable model like the petrol-powered Ferrari Roma is priced at 2.76 million yuan, while a Lamborghini Huracan sells for 2.54 million yuan, 64 per cent and 51 per cent higher than the U9, respectively…."Yangwang carries BYD's hopes for becoming a global EV powerhouse, using some of the company's latest technologies to make it attractive to customers," said Chen Jinzhu, CEO of consultancy Shanghai Mingliang Auto Service. "The U9 is likely to reinforce BYD's plan to move up the value chain."…The Yangwang uses BYD's DiSus intelligent vehicle body control system, which allows cars to spin 360 degrees in a so-called tank turn, and move sideways in a "crabwalk"….DiSus is "the first self-developed intelligent body control system launched by a Chinese automobile company" and will serve as a foundation for BYD's future development of its advanced driver assistance system, founder and chairman Wang Chuanfu said at a launch ceremony last April…The two-seater U9, packed with a 1,306-horsepower engine and four wheel-side motors, can reach zero to 100km/h in 2.4 seconds. The supercar has a driving range of 465km on a single charge.