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18 March 2025

In Case You Missed It

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Dickinson Wright PLLC

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Dickinson Wright is a general practice business law firm with more than 475 attorneys among more than 40 practice areas and 16 industry groups. With 19 offices across the U.S. and in Toronto, we offer clients exceptional quality and client service, value for fees, industry expertise and business acumen.
Apple plans to roll out a new Apple maps feature for Ford drivers that will allow them to use Apple Maps EV routing via CarPlay to include charging stations on their trip.
United States International Law

(1) Industry moves forward on technical advancements for EVs despite regulatory uncertainty

These types of technology improvements send a message that the industry is still heavily invested in EVs and in improving the experience of potential EV owners in the future.

(2) Potential for unprecedented brand partnerships to compete with competitive global EV market.

  • GM and Ford have expressed openness to a partnershipbetween one another in order to compete with competitive Chinese EV manufacturers. This strategic shift highlights the intensifying demand for EVs in the global market, and the significant ground that needs to be covered to catch up with the Chinese market.

(3) EV Industry Turmoil and Investment:FiskerandNorthvoltFace Bankruptcy, WhileSunwodaSeals $1B Deal in Thailand

2024 has been a turbulent year for the electric vehicle industry, as major players face financial struggles. Fisker Inc., the American EV company, filed for Chapter 11 bankruptcy in June 2024, burdened by loan defaults and delisting from the New York Stock Exchange. By October, the company reached an agreement to liquidate its assets. Similarly, Swedish battery manufacturer Northvolt filed for Chapter 11 bankruptcy protection in November 2024, reporting debts of $5.8 billion and meager cash reserves, which led to the resignation of its CEO.

Despite these setbacks, the EV sector is also seeing significant investments. Thailand has approved a $1 billion investment from China's Sunwoda, a leading battery manufacturer, to establish a new EV battery plant. This move highlights the ongoing global interest in EV infrastructure despite financial challenges faced by some companies in the industry.

(4)Will the EV industry be affected by Trump tariffs?

Starting in 2025, President Trump's tariffs on China, Canada, and Mexico, the three major U.S. trade partners could significantly increase automobile prices, including electric vehicles for American consumers and reduce car sales. Additionally, battery manufacturers are at risk, as the processing of essential minerals for EV batteries is largely concentrated in China, which will also be subject to a 20% tariff on top of existing duties (301 tariffs) on Chinese imports. Moreover, the expansion of Section 232 steel and aluminum tariffs means automakers will face higher costs for these critical raw materials, which the industry relies on heavily.

Last month, Ford CEO Jim Farley cautioned that imposing 25% tariffs on Mexico and Canada would have severe consequences for the U.S. auto industry. "What we're seeing is a lot of cost, a lot of chaos," he remarked.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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