Umicore facing challenges from electric vehicle subsidy reforms, poor battery demand, CEO says

By William Clarke
Published: Wednesday, 31 July 2019

Battery raw materials producer Umicore continues to expect stable or falling income in 2019, with the sector under pressure from reforms of the subsidy system in China.

Chinese subsidy reforms will cool down the electric vehicle (EV) market and weigh on battery demand in the second half of 2019, Umicore chief executive officer Mark Grynberg said in a conference call on Wednesday July 31.

The Belgian battery raw materials producer maintained a forecast for stable or falling...

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