Author name: Gerrit Bockey

Hyundai and Kia have signed a memorandum of understanding with India’s Exide Energy Solutions Ltd to secure battery supply for their electric vehicles and enhance their competitiveness in the Indian market. The South Korean automotive duo emphasized that the partnership with Exide Energy aims to localize EV battery production in India, focusing specifically on lithium iron phosphate (LFP) cells. Expansion into India is strategically important for Hyundai and Kia. Besides the USA, South Korea, and Western Europe, India is one of the company’s most revenue-generating markets. Lower labor costs in India compared to China and the availability of lithium mines in the country make it an attractive destination for manufacturing EV battery materials, emphasized Shin Yoon-chul, analyst at Kiwoom Securities. Hyundai plans to invest around $2.40 billion in the Indian market by 2023. This includes introducing six electric car models by 2028 and expanding charging stations. Meanwhile, Kia plans to introduce locally optimized small electric cars to the market starting in 2025. Exide Energy has already announced that production of EV battery cells will commence by the end of this year, marking a significant step forward for electromobility in India. Source: https://www.reuters.com/business/autos-transportation/hyundai-motor-kia-partner-with-indias-exide-energy-ev-batteries-2024-04-08/

LG Energy Solution’s new US battery production complex in Arizona will be completed within two years. The facility, which will cost 5.5 billion US dollars to build, will comprise two production sites. These will be the company’s first stand-alone round cell manufacturing and energy storage system manufacturing facility in North America. The energy storage systems will be based on lithium iron phosphate (LFP) chemistry, while 46-series round cells will be produced for electric vehicles. The average annual production capacity is expected to be 53-gigawatt hours at total operating capacity. Of this amount, 36-gigawatt hours will be accounted for by round cells and 17-gigawatt hours by battery cells for energy storage systems. Completing the construction work will allow both plants to start production in 2026. The company plans to start the first mass production of 46 series batteries at the Ochang plant in Korea in the second half of this year, which is the earliest time among major global battery manufacturers. Source: https://www.businesskorea.co.kr/news/articleView.html?idxno=214500

The Global Gigafactory Design and Construction Summit will take place in Berlin, bringing together senior executives from the industry for a two-day business networking event. Attendees will have the opportunity to participate in a program that includes insightful case studies and panels aimed at promoting in-depth exchanges and discussions that address the industry’s challenges in the design and construction of these state-of-the-art facilities. The gigafactories are crucial for meeting the escalating demand for batteries and ensuring a stable supply chain for the rapidly expanding electric vehicle market. The focus is on facilitating a seamless and cost-effective transition through innovative solutions that cater to customers’ expectations in terms of value and performance.

Tesla supplier Panasonic is considering increasing its investment in battery production in Kansas, USA, where it has started constructing its second plant in De Soto for four billion US dollars.

Agratas, part of Tata Group, has chosen Gravity Smart Campus near Bridgwater in the southwest of England as the location for its first battery cell gigafactory outside India.