Battery Production

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.

Ultium Cells, a joint venture by General Motors (GM) and LG Energy Solution, has begun delivering the first battery cells to the General Motors assembly plant in Tennessee.

Panasonic Energy and Indian Oil are in talks about a joint venture for cylindrical lithium-ion batteries for two- and three-wheelers as well as energy storage systems in India.

Construction of the 4.5-billion-euro “Northvolt Drei” battery factory has begun in Heide. It is set to reach its full annual capacity of 60 gigawatt-hours by 2029.

South Korean battery manufacturer SK On is in talks with Nissan Motor about joint production of battery cells for the Japanese automaker in the US.

US manufacturer American Battery Factory (ABF) will be purchasing automation technology and machines from Chinaʼs “LEAD Intelligent Equipment” for its first gigafactory in Arizona.

German battery company CustomCells has founded a subsidiary in Detroit for its US market activities. An innovation, research and development center and a production facility could also be established there.

Israeli battery developer StoreDot will be working together with Chinese battery manufacturer EVE Energy to make its XFC cells ready for series production later this year.