China’s CMOC Group Ltd. said Monday it produced 114,165 tons of cobalt last year, according to a stock exchange filing citing preliminary data. That’s more than double its 2023 figure and surpassed earlier guidance for 2024 output, which was expected to total 70,000 tons at most…CMOC overtook Glencore Plc in 2023 as the world’s biggest supplier of cobalt, while the breakneck pace of production at its mines in the Democratic Republic of Congo has further cemented its top position for the metal used in everything from batteries to aerospace alloys…However, CMOC’s stunning volume has deepened a global cobalt glut and helped send prices to the lowest levels since 2016. 

The U.S. Defense Department said on Monday it has added Chinese tech giant Tencent Holdings and battery maker CATL to a list of companies it says work with China's military, in a move set to escalate U.S.-China tensions…Both companies called the move, which comes two weeks before U.S. President-elect Donald Trump takes office, a "mistake"…CATL, the world's largest electric vehicle battery maker, said it was "not engaged in any military-related activities"…While the designation does not involve immediate bans, it can be a blow to the reputations of affected companies and represents a stark warning to U.S. entities and firms about the risks of conducting business with them. It could also add pressure on the U.S. Treasury Department to sanction the companies…The Chinese foreign ministry told a daily briefing on Tuesday that it urged the United States to immediately lift "illegal unilateral sanctions" against Chinese enterprises, adding that China would safeguard the legitimate rights and interests of its companies…The updated list is one of numerous actions taken by Washington in recent years to highlight and restrict Chinese companies it says pose security risks, weighing on strained relations between the world's two biggest economies…"The most serious consequence for CMC companies is U.S. investment ban, but it's all up to Trump and his team."…U.S. lawmakers had pushed the Pentagon throughout 2024 to add some of the companies, including CATL, to the list. Ford Motor is building a battery plant in Michigan and plans to license CATL technology to produce low-cost lithium-iron batteries at the facility - a move that has sparked concerns by some lawmakers. Ford did not immediately comment on Monday.

Tesla supplier Panasonic Energy plans to eliminate its supply-chain dependence on China for electric vehicle batteries made in the United States, a senior executive told Reuters, calling the shift a "No.1 objective"…The comments from Allan Swan, President of Panasonic Energy of North America, highlight how incoming U.S. President Donald Trump's pledge to raise tariffs on imported Chinese goods has forced companies around the world to reassess their manufacturing processes…The first thing the business has to do in regards to Trump's plans is "not to have the supply chain dedicated from China," Swan told Reuters in an interview in Las Vegas on Monday at the CES trade show…The bulk of the raw materials for Panasonic Energy's U.S.-made batteries come from overseas suppliers, including ones from Canada, Swan added…In the United States, Panasonic Energy operates a factory in Nevada and plans to open a second plant in Kansas this year…It is not only signing up U.S. suppliers but also helping some of its Japanese and Korean suppliers set up shop in the country and tapping those already planning U.S. operations…"That's our main focus about building the American supply chain," Swan said. "We have set some quite strong targets about what we want to achieve."

Chinese automaker Chery on Tuesday reported a 38.4% jump in global car sales for 2024 to 2.6 million vehicles and forecast sales of more than 3 million this year…State-owned, Wuhu-based Chery said its revenue rose more than 45% to 480 billion yuan ($65.52 billion) as it remained China's top car exporter, shipping 1.14 million to foreign markets…The jump in sales will almost certainly push Chery up several places in the ranking of global automakers, with many yet to report their 2024 full-year sales…Chery is rolling out car models for its Omoda and Jaecoo brands in Europe, and will start producing cars with a joint venture partner in Spain this year.

Renault's Dacia brand cut the price of its low-cost electric vehicle (EV) by 2,000 euros ($2,086) in France on Tuesday, part of a wave of expected discounts in Europe this year to boost stagnant EV sales…Car makers in Europe are expected to rely on discounts to push more EV sales to help them meet tougher new emissions rules in the European Union…At least one-fifth of all European sales by most car companies must be EVs to avoid heavy fines but only 13% of vehicles sold in the region during the first 11 months of 2024 were electric, according to the European Automobile Manufacturers' Association…Dacia, the region's leading low-cost brand, said it was dropping the entry price of its electric Spring model to 16,900 euros, closing the gap with China's Leapmotor.

A group representing self-driving car companies on Tuesday called on the U.S. government to do more to speed the deployment of autonomous vehicles and remove barriers to adoption…The group includes Volkswagen, Ford, Alphabet's Waymo , Amazon.com's, Zoox, Uber, and others…The group released a policy framework calling on the U.S. Department of Transportation (USDOT) to "assert its responsibility over the design, construction, and performance of autonomous vehicles and increase its efforts in key areas."…The group added that "federal inaction has created regulatory uncertainty" and warned China is determined to take the United States lead on autonomous vehicle technology…"We want to make sure there is a clear pathway to getting these next-generation vehicles on the road," said Farrah…Transportation Secretary Pete Buttigieg said in an interview on Monday the government was ensuring that self-driving cars would be much better than human drivers…"I think being very rigorous in these early stages is helping these technologies start to meet their potential to save lives," Buttigieg said, adding the oversight would boost public acceptance…The autonomous vehicle group wants Congress to clarify human controls are unnecessary in automated vehicles meeting performance standards and allow companies to disable a self-driving vehicles' manual controls. It also called for creating a national AV safety data repository that would be available to state transportation agencies…Efforts in Congress to make it easier to deploy robotaxis on U.S. roads without human controls have been stymied for years but may be boosted when President-elect Donald Trump takes office…Tesla CEO Elon Musk, a close adviser to Trump, said in October the automaker would roll out driverless ride-hailing services in 2025.