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Volvo Cars formally inaugurated a new battery assembly line at its Belgian manufacturing plant in Ghent, where it will start building its first fully electric car, the XC40 Recharge P8, later this year. Volvo XC40 Recharge powertrain. The XC40 Recharge P8 is the first of a family of fully electric Volvos.
Volvo Construction Equipment (Volvo CE) announced an investment into battery pack production at its excavator plant in Changwon, SouthKorea. The Changwon plant in SouthKorea specializes in the production of excavators and is the biggest excavator production site in Volvo CE. With the SEK 80-million (around $7.8-million)
Boston-based SES AI Corporation, a developer of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles and other applications, has incorporated its subsidiary SES Korea and plans to build a pre-production facility in SouthKorea. It’s all about speed and winning the race.
SK On will partner with Korea’s largest cathode material company EcoPro, and Chinese battery materials producer GEM to build a battery core material production facility in Saemangeum, SouthKorea. SK On has been actively building various cooperative relationships to strengthen the raw material supply chain.
SouthKorea-based SK Innovation, a developer of lithium-ion batteries for electric vehicles, will invest $1.67 billion to build a new electric vehicle (EV) battery manufacturing plant in Georgia. SK Innovation has applied high energy density ternary materials to lithium-ion batteries for mass production.
A new report from IDTechEX forecasts the solid-state battery market will grow to $8 billion by 2031. Under most of the mass-production plans, the solid-state battery will likely take off after 2025, although small-scale production may happen even earlier, IDTechEX said. Major solid-state battery players globally.
Canada-based NEO Battery Materials Ltd.—which —which intends to become a silicon anode materials supplier to the EV industry— entered into a Memorandum of Understanding (MOU) with South Korean silicon powder manufacturer, Korea Metal Silicon Co., Korea Metal Silicon Co.
The BMW Group and Samsung SDI have signed a memorandum of understanding (MoU) to expand their supply relationship for battery cells for electro-mobility. Samsung SDI will supply the BMW Group with battery cells for the BMW i3, BMW i8 and additional hybrid models over the coming years. Earlier post.) Earlier post.)
LOTTE Chemical announced a joint venture with LOTTE Aluminium to build a manufacturing facility in Elizabethtown, Kentucky to produce 36,000 tons of cathode foil, a type of ultra-thin aluminum foil that is a core material used in EV batteries. Cathode foil is one of the four major components of lithium-ion batteries.
Group14 Technologies, a global provider of silicon-carbon composite materials for lithium-ion markets, and SK materials, one of the world’s top manufacturers of special gases and industrial gases, are forming a joint venture to build a factory for lithium-silicon battery materials in SouthKorea.
LGES’ expansion will quintuple the plant’s capacity to help produce battery components into the future as Michigan’s electric vehicle industry grows. billion to build Ultium Cell LLC’s third US battery cell plant in the city of Lansing and Delta Township, a joint venture between GM and LG. million; and.
Korea) of the country’s first lithium hydroxide plant, which will produce secondary battery materials using lithium produced from brine in Argentina. The subsequent production of lithium hydroxide will take place in SouthKorea. POSCO developed its own extraction technology for lithium in 2010.
Mercedes-Benz has drawn the ire of the electric vehicle (EV) fire victims in SouthKorea for providing an “absurdly insufficient” donation to the residents of the complex affected by the blaze. The South Korean Environment Ministry called an emergency meeting to discuss EV fire safety. billion won ($3.3
Europe has become the fastest growing region for new electric vehicle (EV) lithium-ion battery capacity outside of China, according to Benchmark Minerals. Benchmark will explore this topic at its upcoming Battery Megafactories Europe 2022 , 22-23 March, Berlin, Germany.). million EVs. Samsung SDI (Hungary): 20 GWh.
Photo: Panoramic view of LG Chem’s petrochemical complex in Yeosu, SouthKorea. LG Chem will start replacing fossil feedstock commonly used in the manufacturing of polymers and chemicals with Neste Renewable Hydrocarbons in the upcoming months.
Hanwha Group and LG Energy Solution (LGES) will invest in buildingbattery production facilities in the United States. The two companies signed a memorandum of understanding in Seoul for comprehensive battery business cooperation for ESS (energy storage systems) and other clean-tech energy solutions.
The new Clarksville plant will be the largest of its kind in the United States, covering 420 acres with a production target of 120,000 tons of cathode material annually by 2027 to power batteries in 1.2 LG Chem applied this technology for the first time to its fourth cathode manufacturing site in Cheongju, SouthKorea with much success.
Business Korea reports that according to its industry and government sources, Samsung SDI and the Ulsan city officials are in talks regarding the expansion of the company's Ulsan plant with an LFP battery production line. This type of battery is less.
SouthKorea’s presidential office revealed that President Yoon Suk-Yeol and Elon Musk conversed about Tesla in a video call on Wednesday, November 23. During the video call, Elon Musk reportedly told President Yoon that he considered SouthKorea one of the top candidates for a Tesla factory in Asia, reported Reuters.
The falling cost of batteries is set to drive a boom in the installation of energy storage systems around the world in the years from now to 2040, according to the latest annual forecast from research company Bloomberg NEF (BNEF). This will transform the economic case for batteries in both the vehicle and the electricity sector.
SK IE Technology (SKIET) signed an MOU with Sunwoda , the 9 th largest battery manufacturer in terms of global market share (according to SNE Research in 2022), to strengthen cooperation in supplying battery separators. This marks SKIET’s first large-scale supply of EV battery separators to a Chinese EV battery manufacturer.
Samsung SDI has narrowed down the locations for its potential battery manufacturing plant in the United States. We’re competing for a major Samsung battery facility,” U.S. The delegation came from [South] Korea this week. Having a battery facility will also create thousands of jobs,” he elaborated.
Nissan became the first Japanese automaker to sign a supply deal with SouthKoreas SK On. Under the new agreement, SK On will supply Nissan with nearly 100 GWh of US-made EV batteries , or enough for around 1 million midsize models.
JR ES develops and manufactures high-performance lithium-ion battery electrodes with a novel electrode and battery cell foundry model, enabling lithium-ion cell manufacturers and other partners to produce tailor-made electrodes and cell solutions.
The investment from Volvo Group will allow the Arvika factory in Sweden to expand its facilities with a new building and allow for the phased introduction of new electric wheel loaders. Building work is set to begin later this year, with further announcements on when production will begin to come.
The Korea Times reports that SB LiMotive, the 50-50 Li-ion joint venture between Samsung SDI and Bosch, will double its facility in Korea, while building a new factory in Europe. “By Currently, the Ulsan factory cannot supply batteries for more than 100,000 electric cars a year.
Another benefit to building in Mexico is that Tesla vehicles would still qualify for EV subsidies in the United States from the Inflation Reduction Act (IRA). In September, Canada’s Minister of Industry Francois-Philippe Champagne stated that Tesla did discuss the possibility of building a factory in Canada. Tesla SouthKorea.
Li-ion battery recycling technology company Aqua Metals ( earlier post ) entered into a strategic partnership with Yulho Co., a storage solution and battery materials company based in SouthKorea.
and Mitsubishi Corporation have agreed to work together on the next generation of high-performance lithium-ion batteries. These batteries are fundamental for future forms of mobility, such as plug-in hybrid or all-electric vehicles. Batteries' Robert Bosch GmbH and the Japanese companies GS Yuasa International Ltd. Earlier post.)
China continues to dominate BloombergNEF’s (BNEF) global lithium-ion battery supply chain ranking, for the third time in a row, for both 2022 and its projection for 2027, due to continued support for the electric vehicle demand and raw materials investments. —Allan Ray Restauro, metals and mining analyst at BNEF and lead author.
As demand for electric vehicles (EVs) soars, spurred by government incentives and a push to decarbonize the transportation sector, the global battery industry is set to attract significant attention and investment. On the back of this, demand for battery cathodes and anodes is also set to rocket. million tonnes last year.
Ninety-nine percent of used lead-based automotive batteries in the EU available for collection are recycled, making them one of the most recycled consumer products, according to a new report by consultancy IHS. In all cases they are then sent on to collection points.
The report also Western Europe has become the hub of FCV development activity, following a DOE funding shift in the US from fuel cells to battery vehicles. The German H 2 Mobility initiative to deploy public refueling stations by 2015 has committed to build 50 stations (although it has not yet reached 20).
Tesla has begun building out its first store in the Philippines, after job listings in the country were recently spotted. company last year launching in Malaysia , Thailand , and SouthKorea, and a year earlier in Japan, Singapore, and on the island of Taiwan. Tesla has launched EV sales in a few nearby regions, with the U.S.
The new entity produces and markets Lioaccum carbon nanotube (CNT) conductive dispersions for lithium-ion battery cathodes specifically developed for electric vehicles (EVs). The production facility is operating in a 5,964 m 2 building on 44,806 m 2 of land.
Tesla Model Y is the best-selling imported car in S Korea in H1 2024 Nvidia remains a top foreign stock in SouthKorea, with local investing holding $13.34 SouthKorea plays a crucial role in Tesla’s future. Tesla recently posted two new job openings in SouthKorea. billion shares.
SouthKorea-based steelmaker POSCO will establish two Li-ion battery material joint ventures in China with leading cobalt supplier Zhejiang Huayou Cobalt. China’s Huayou Cobalt is the largest cobalt producer in China and is capable of supplying 50% of demand from lithium-ion battery producers.
LG Chem plans to invest 6 trillion KRW ($5 billion) to produce EV battery materials for separators, cathodes, anodes, and other key elements. On Wednesday, LG Chem’s CEO Hak Cheol announced the company’s plans to grow into the world’s largest comprehensive battery materials producer.
World demand for lithium—driven by demand for electric vehicle batteries—is estimated to increase from 592,000 tonnes of lithium carbonate equivalent (LCE) in 2021 to 745,000 tonnes in 2022. Despite the spread of new battery manufacturing capacity into Europe and the US, Asia remains the major source of demand for lithium.
LG Energy Solution (LGES) plans to start hiring workers for the Arizona battery manufacturing complex by the end of 2024. billion battery manufacturing complex. LGES added that it Tesla 4680 battery production by LG starting later this year LGES is building two manufacturing facilities in Arizona.
Group14 Technologies, a global manufacturer and supplier of advanced silicon battery technology, raised $214 million in additional financing from a consortium including Microsoft’s Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel. Earlier post.) Earlier post.)
Ford’s BlueOval SK electric vehicle (EV) battery plant in Tennessee is ready to start trial operations next month. The trial run will ensure that Ford’s TN EV battery plant can produce high-quality cells efficiently and consistently. billion joint venture between legacy automaker Ford and SouthKorea-based SK On.
The Miljøbil Grenland joint venture, of which Electrovaya is a shareholder, is establishing a Lithium Ion SuperPolymer cell and battery pack manufacturing facility in Norway to meet the emerging demands of electric vehicles, including the Tata Motors Indica EV. EIG) a contract to supply batteries for the Indica Vista EV project.
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