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Key Takeaway Chinese battery giant  CATL will begin production at its new Hungary plant within 4–5 months , earlier than its previous 2025-end target. With  €7.3 billion invested , the facility is set to become CATL’s largest in Europe, supplying automakers like BMW, Stellantis, and Volkswagen. Details of the Expansion Location:  Debrecen, Hungary Investment:  €7.3 billion (US$8.55B / RM36.08B) Scale: Annual capacity of  100 GWh , with a planned  9,000-strong workforce Timeline: Production expected to start  late 2025 or early 2026 Comparison: The plant will  dwarf CATL’s Thuringia facility in Germany This project underscores CATL’s aggressive push to strengthen its footprint in Europe. Market Context CATL commands a  38% global EV battery market share in 2024 , up from 36% in 2023 (SNE Research). The company raised  US$4.6 billion  in its May Hong Kong IPO to help fund this project. Despite  sluggish EV demand in Europe , CATL...

 Key Takeaway Oil prices edged higher Monday after Opec+ agreed to  raise production at a slower pace starting October . The move offers short-term support for crude after last week’s losses, but rising supply and weaker demand outlooks keep pressure on the market. Market Snapshot Brent crude:  +0.5% to  $65.84 /barrel WTI crude:  +0.5% to  $62.17 /barrel Both benchmarks lost over  3% last week , with Friday’s U.S. jobs data denting demand expectations. Opec+ Decision Opec+ (Saudi Arabia, Russia, and allies) will  raise output by 137,000 bpd from October . This is much smaller than the  555,000 bpd hikes in August and September  and  411,000 bpd in June and July . Saudi Arabia is pushing to  regain market share , but the slower pace reflects concerns over a potential oil glut in winter. Market Drivers Supply relief:  Smaller-than-expected increase eased market fears, providing a modest price rebound. Geopolitical risk: ...

Russia is set to increase taxes on imported cars starting in 2025 by doubling the scrappage fees that all car producers must pay, as outlined in draft budget documents released on Monday. This move is part of a broader strategy to enhance state support for locally manufactured vehicles. Since February 2022, Russia's automotive market has undergone significant changes, with Western carmakers withdrawing and Chinese manufacturers stepping in to fill the void. The draft budget indicates that Russia anticipates nearly doubling its revenues from car recycling in 2025, projecting an increase from 1.08 trillion roubles to 2.01 trillion roubles . Increased Scrappage Fees and Support for Domestic Production The scrappage fees for imported vehicles are expected to rise to 1.14 trillion roubles next year, up from 680 billion roubles . For domestically produced cars, the fees will increase to 871.5 billion roubles from nearly 400 billion roubles this year. Both domestic manufacturers and ...