In 2023, South Korea saw the first decline in rechargeable battery exports in eight years. The industry suspected that the situation is related to major battery manufacturers like LG Energy Solution, Samsung SDI and SK On moving most of their production overseas.
Tesla Inc. Chief Executive Officer Elon Musk couldn't have been more clear in his message to investors: Tesla is now an artificial intelligence company.
Japan and the European Union have agreed to collaborate on a scheme to share information about battery material production locations and the supply chain. The move will help the two parties track lithium and other minerals in batteries and prevent materials from outflowing from these regions. The information sharing will also reduce Japan and the EU's dependence on battery materials produced in China.
Hyundai Motor has reportedly tied up with battery maker SK On in the US. Before the pair establishes a joint venture, SK On will retool a battery production line dedicated to Ford at its plant in the State of Georgia and manufacture batteries for Hyundai instead.
Nissan Motor said it will leverage the Giga-casting technique to produce its next-generation EVs and rapidly reduce costs. The automaker recently also invited media members to check its pilot lines for all-solid-state batteries under construction.
China's automotive offense has pressured legacy carmakers in Europe and other markets. Gianfranco Pizzuto, an Italian automotive veteran and the former co-founder of Fisker Automotive, predicted that Chinese carmakers will lead the mainstream market for the next 10 years. The luxury segment is where European companies can stay ahead of competitors.
US states like Arizona and New Mexico are expected to become more tempting for investments, partly thanks to an EV cluster that will emerge in the southwestern US and northern Mexico. The border states will also play a crucial role in achieving the US goal of raising local production rate.
Taiwan-based HD Renewable Energy (HDRE) is expanding its business scope from energy storage and solar energy to EV charging. Jason Chou, HDRE's general manager, said the company will establish joint ventures in Taiwan with local partner Shihlin Electric &Engineering. The pair plans to bring their charging venture to Japan.
Meiwa Corporation, a Japan-based chemical material producer, Toyota, and China Minmetals Corporation recently announced they will set up a joint venture for EV battery recycling in China. More details remain to be released.
Citing costs and productivity, Tesla informed its employees on April 15 that it plans to cut 10% of its workforce worldwide. The news came after Tesla reported a decreased delivery for the first quarter of 2024 amid soft EV demand.
Amidst the tumult of the lithium battery industry, Chinese EV battery giant CATL has once again made waves with the launch of its groundbreaking energy storage system, "Tianheng." As the energy storage market navigates through storms of pricing pressures and aggressive bidding, CATL's move promises to shake up the status quo.
A solid-state battery research project supported by the South Korean government has discovered methods to enhance the stability of solid-state batteries. The discoveries will reportedly promote the development of safer battery systems and the team's results have been published in the online edition of the academic journal ACS Energy Letters.
Foxtron Vehicle Technologies, a Hon Hai (Foxconn) subsidiary, held its groundbreaking ceremony for its new electric bus factory at the Ciaotou Science and Technology Park on April 11.
Following an anti-subsidy investigation on China-made EVs launched in 2023, the European Union is reportedly considering resuming the anti-dumping and anti-subsidy probes on Chinese photovoltaic (PV) panels.
SK Group is reportedly planning to merge its battery company, SK On, and lubricant subsidiary, SK Enmove, to proceed with turning SK On into a publicly traded business. The news came after SK Group said it might delay the battery arm's initial public offering (IPO).
Chinese and South Korean battery manufacturers dominate LFP and ternary batteries for EVs and energy storage systems (ESS). However, as companies expand into foreign markets, the Chinese and South Korean governments are concerned that the overseas scale-up will pull domestic companies off the leaderboard.
Hyundai Motor and Kia announced a partnership with Exide Industries to source locally-made lithium-ion cells for EVs sold in India. The announcement came as global EV brands, such as VinFast and Tesla, seek to expand in the Indian market.
Ultium Cells, a battery joint venture between LG Energy Solution and General Motors, has started production at its second plant in Tennessee, the US. The first product has been delivered to customers and is expected to power the Cadillac Lyriq and other third-generation EVs.
Prices have dropped for nickel and lithium, key materials used in batteries for Electric Vehicles (EV), as growth in the EV market has slowed. Even as suppliers begin to reduce production, the oversupply of these minerals is expected to continue for some time.
