Global Scans · Batteries · Weekly Summary

• [New] The JV is expected to gradually expand its average annual production capacity to 50 GWh, providing innovative batteries that will power GM's upcoming models with BEV3 [1] platform. | BATTERY INSIDE
• [New] The announced investments in battery manufacturing will first need to be realised, and we estimate that it would require USD 100 billion in capital expenditures 10 to reach the level of battery manufacturing capacity necessary to meet demand for electric cars in 2030 in the APS. / USA IEA
• [New] In China, committed battery manufacturing capacity is well above what is needed to supply domestic electric car sales in 2030. IEA
• [New] Global competition is expected to further intensify in the coming years, especially as Chinese carmakers look to export in the context of battery and EV oversupply. IEA
• [New] In Europe and the United States, electric car prices are expected to come down as a result of falling battery prices, more efficient manufacturing, and competition. IEA
• [New] In China, the total committed battery manufacturing capacity is over two times greater than domestic demand in the APS by 2030, opening opportunities for export of both batteries and EVs with batteries made in China, but also increasing financial risks and reducing margins of battery producers. IEA
• [New] South Korean metals refiner Ecopro has cut production of lithium hydroxide mainly used for LFP chemistry EV batteries by 10% from a year ago, due to weaker than expected global demand growth for EVs. Share Talk
• [New] Today, China alone makes enough batteries to satisfy global demand, which could make things tough for new players in the battery game. MIT Technology Review
• [New] The forecasted battery manufacturing capacity is expected to increase over the coming years as world EV and battery utilization becomes more mainstream. Junior Mining Network
• [New] To produce a Rs20 lakh car, Tesla can also have a battery pack with a lower capacity than 50 kW and the electric motors could be of lower power. Zee Business
• [New] Recycling could provide 43% of the minerals required for domestic manufacturers to meet demand for batteries by 2040. The Economist
• [New] By 2030, mines in production or currently under construction will only meet half of global demand for battery metals like lithium and cobalt. Mining Weekly
• [New] Budget 2024 added a sixth new one - an EV Supply Chain Investment Tax Credit that will apply to vehicle assembly, battery production and cathode active material production. Public Policy Forum
• [New] At Auto Guangzhou 2023 last November, GAC Group unveiled its intention to integrate all-solid-state batteries into vehicles by 2026. wapcar.my
• [New] Solid-state batteries offer the potential to overcome the limitations of traditional liquid electrolyte batteries and have become a focal point in the global power battery competition. CarNewsChina.com
• [New] China's battery manufacturing capacity will outpace demand by a factor of four by 2027 as the EV industry continues to grow. AOL
• [New] Over the next three years, starting in 2024-2025, the Ontario government said will allocate $2.8 billion over three years for strategic investments in industrial support and land development, including Ontario's auto manufacturing sector and electric vehicle battery production. Electric Autonomy Canada
• [New] As a leader in sustainability, the BMW Group has already reached a contractual agreement with its cell manufacturers that they will only use green power to produce fifth-generation battery cells. BMW Group
• UBE Corporation has invested $500 million in its Waggaman, Louisiana, a Justice40 community, electrolyte solvent facility project for batteries which it expects to create 60 new jobs. The White House
• In 2024, if all suitable lithium metal produced were used for batteries, it could support 5 to 10 gigawatt-hours of cell production. CarbonCredits.Com
• ExxonMobil announced plans to begin producing lithium, the key component for electric vehicle (EV) batteries, by 2027. Oil & Gas Journal

Last updated: 28 April 2024