CURRENT AFFAIRS

Detailed explanation-1: -Mumbai: In a bid to diversify its product portfolio, Indian Oil Corporation (IOC) is foraying into energy storage and batteries for electric vehicles (EVs), Chairman Sanjiv Singh said.

Detailed explanation-2: -Combined, CATL, LG Energy Solution, BYD, and Panasonic make up more than 70 percent of the global market share of automotive battery sales in the first six months of 2022, with a total of 143.6 gigawatt hours worth of batteries sold.

Detailed explanation-3: -Million Mile Battery Born at a Canadian University In 2015, Tesla entered an exclusive research collaboration with world-famous battery scientist and Herzberg Gold Medal winner, Dr. Jeff Dahn, the first time the company had ever worked with a university. Dr.

Detailed explanation-4: -The leading battery supplier, CATL, expanded its market share from 32% in 2021 to 34% in 2022. One-third of the world’s EV batteries come from the Chinese company. CATL provides lithium-ion batteries to Tesla, Peugeot, Hyundai, Honda, BMW, Toyota, Volkswagen, and Volvo.