Author name: Gerrit Bockey

The European Investment Bank (EIB) has announced a 450-million-euro loan investment in AESC’s upcoming gigafactory in Douai, France.

Svolt Energy received an order to supply nearly 90 gigawatt-hours of battery capacity to BMW in Europe, according to local media citing industry sources. The estimated value of this order is approximately $13 billion. These batteries are expected to be used in BMW vehicles starting in 2027 and will be based on Svolt Energy’s short-blade cell technology, which will be introduced in a cell-to-pack (CTP) design. Although neither Svolt Energy nor BMW have officially confirmed the agreement, the order is seen as a strategic step toward achieving the planned battery capacity of 160 gigawatt-hours that BMW is targeting this year. That capacity might not be met by already-confirmed cell partners CATL and Eve Energy alone. CATL and Eve Energy are currently building battery factories in Debrecen, Hungary. BMW is currently building the vehicle plant for the New Class at the same location. Source: https://cnevpost.com/2023/10/12/svolt-energy-gets-order-to-supply-batteries-to-bmw-report/

Stellantis and South Korean cell producer Samsung SDI have announced the location of their second joint battery plant. The joint venture, called StarPlus Energy, will also build a gigafactory in Kokomo, Indiana. The joint venture is already in the process of building a cell manufacturing facility on-site. The second joint battery factory in Indiana is scheduled to open in 2027 and could employ an expected 1,400 people. The two companies will then have a combined annual production capacity of 67 gigawatt-hours at the Indiana production site. Production at the first joint plant is expected to begin in the first quarter of 2025. The announcement comes at a time when Stellantis is dealing with losses due to the nearly four-week strike by the United Auto Workers. The union is demanding that Stellantis, General Motors, and Ford Motor Co. include their joint-venture battery factories for electric vehicles in the union’s framework agreements with automakers. Stellantis and Ford have resisted so far, saying the battery plants are stand-alone businesses that require lower labor costs. GM has already agreed to include its joint venture battery plants in its master contract. Source: https://www.reuters.com/business/autos-transportation/samsung-sdi-stellantis-choose-indiana-second-joint-ev-battery-plant-2023-10-11/

The West Midlands Gigafactory joint venture confirmed talks with several Asian battery manufacturers about future investment in Coventry. This site is the only one in the U.K. with planning permission for cell manufacturing with a capacity of up to 60 gigawatt hours per year, according to West Midlands. During his speech at the Labour Party Conference on Monday, Jim O’Boyle, cabinet member for jobs, regeneration, and climate change at Coventry City Council, shared, “I’m pleased to report that we are now in advanced discussions with leading Asian battery manufacturers who want to develop a presence in the UK. We hope, with the support of the UK Government, that we will secure an investor and further strengthen our region’s leadership credentials in the shift towards electrification.” The site is located in the West Midlands and has good transport infrastructure for logistical requirements, supply chains, and access to up to 6,000 employees. The West Midlands Gigafactory is expected to serve as a catalyst for strengthening high-value skills and research in the region. A comprehensive regional incentive package will be provided to offer favorable tax conditions and access to clean, sustainable energy required for competitive battery production. Source: https://ukgigafactory.com/news/2023/10/10/west-midlands-gigafactory-now-in-advanced-talks-with-leading-asian-battery-manufacturers

Toyota Motor and LG Energy Solution have signed an agreement to supply lithium-ion batteries to be used in the Japanese automaker’s U.S.-built electric vehicles starting in 2025. LG Energy Solution (LGES) will invest $3 billion in its battery plant in Holland, Michigan, to supply Toyota’s Kentucky plant with battery cells from the awarded production lines. LGES will supply Toyota with 20 gigawatt hours of high-nickel NCMA battery cells and modules annually from the Michigan plant. The modules will be assembled into battery packs by Toyota in Georgetown, Kentucky, and installed in new electric vehicles. The agreement with Toyota means LGES will now supply five leading automakers, including Stellantis, Hyundai and Honda, with batteries from its eight jointly owned and operated North American plants. In August 2022, Toyota announced it would triple its investment in a new battery plant in North Carolina, which it will operate with longtime partner Panasonic as part of the Prime Planet Energy & Solutions joint venture, to $3.8 billion. The plant is expected to be operational in 2025. Source: https://www.reuters.com/business/autos-transportation/toyota-lg-energy-sign-battery-supply-agreement-power-evs-2023-10-04/