American Economics Thread

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tygyg1111

Captain
Registered Member
Happy 4th of July:

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The Institute for Supply Management (ISM) said that its manufacturing PMI dropped to 46.0 last month, the lowest reading since May 2020, from 46.9 in May. That marked the eighth straight month that the PMI stayed below the 50 threshold, which indicates contraction in manufacturing, the longest such stretch since the Great Recession.
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Economists polled by Reuters had forecast the index edging up to 47. Manufacturing, which accounts for 11.1% of the economy, contracted at a 5.3% annualized rate in the first quarter, government data showed last week.
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C

Chilled_k6

Junior Member
Registered Member
HighGround said:
Well yes.

The point is to lay off people from their gas-powered division (a developmental dead-end), while they ramp-up their EV efforts.
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Yes that's what I thought. They did it last summer as well when they laid off ~10k ppl if I recall correctly.

According to CNBC they're also laying off people from their EV division as well not just ICE:
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Probably because they're projected to lose multiple billions this year on EVs so they're deciding to streamline more.
 
H

HighGround

Senior Member
Registered Member
Chilled_k6 said:
Yes that's what I thought. They did it last summer as well when they laid off ~10k ppl if I recall correctly.

According to CNBC they're also laying off people from their EV division as well not just ICE:
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Probably because they're projected to lose multiple billions this year on EVs so they're deciding to streamline more.
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I do wonder how SK and LG's batteries compare to CATL/BYD/Tesla.

I haven't followed the NEV thread as closely as the Semi thread, do you know if there's any good comparisons?
 
TK3600

TK3600

Major
Registered Member
HighGround said:
I do wonder how SK and LG's batteries compare to CATL/BYD/Tesla.

I haven't followed the NEV thread as closely as the Semi thread, do you know if there's any good comparisons?
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CATL and BYD are currently the market leader in quality and quantity. BYD and CATL are much prefered over Korean suppliers. That said, the demand is so high I think LG can still survive.
 
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HighGround

Senior Member
Registered Member
TK3600 said:
CATL and BYD are currently the market leader in quality and quantity. BYD and CATL are much prefered over Korean suppliers. That said, the demand is so high I think LG can still survive.
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I figured, but I wondered if there was an analysis out there that compared the energy density, packing technology, etc. I haven't done a real search myself, but from basic googling I haven't really been able to find anything good.
 
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