Battery Production

Swedish battery manufacturer Northvolt has filed for Chapter 11 bankruptcy protection in the US with debts of 5.8 billion dollars and only 30 million dollars in cash.

US battery cell manufacturer Lyten has acquired the production assets of former lithium metal battery manufacturer Cuberg in California and will be converting the facility to lithium-sulfur battery production.

LG Energy Solution will be supplying 4695-size cylindrical batteries with a total capacity of 67 gigawatt-hours to US automotive manufacturer Rivian over a five-year period.

Volvo Cars has announced that it will take full control of NOVO Energy, its battery joint venture with Northvolt, exercising its right to buy back shares.

The German Federal Cartel Office has approved Porscheʼs acquisition of a majority stake in Vartaʼs V4Drive Battery GmbH subsidiary.

Chinese battery manufacturer SVOLT Energy has confirmed that it will cease operations in Europe. The decision affects the European company and its German subsidiary and will take effect on 31 January 2025. The subsidiary of Chinese carmaker Great Wall Motor cited the unexpected development of the European electric vehicle market, which has fallen short of market players’ expectations. Investment Freeze and Restructuring SVOLT had previously made significant investments in the European market, including planned production facilities in Germany. A factory for battery modules and packs with a capacity of 24 GWh and an investment volume of around €2 billion was planned in Saarland, while a cell factory with a capacity of 16 GWh was to be built in Brandenburg. Both projects were due to be operational by 2025, but have now been put on hold without any further timetable. In Europe, SVOLT will now focus on technical services, warehousing, logistics and after-sales services. Despite the withdrawal from production, the company has signalled its interest in long-term opportunities in the European market and intends to evaluate strategic options for a possible re-entry. Source:https://cnevpost.com/2024/10/27/svolt-confirms-will-end-operations-europe/

NextStar Energy, a joint venture between South Korean battery cell manufacturer LG Energy Solution and Stellantis, has started production of battery modules in Windsor, Ontario. Construction of the facility began in 2022. Cell Production Starting in 2025 According to the company, the next step will be the start of battery cell production in 2025, once the construction work is completed. In the final phase, the plant is expected to reach an annual production capacity of 49.5 gigawatt hours. The project represents an investment of 5 billion Canadian dollars (approximately 3.6 billion US dollars). Batteries produced at the facility are intended to supply the North American ecosystem for Stellantis.  Sources:https://media.stellantisnorthamerica.com/newsrelease.do?id=26366&mid=1529https://nextstar-energy.com/index.php/2023/07/20/5b-windsor-battery-plant-the-largest-private-sector-investment-in-ontario/

According to Indonesian state media, the Indonesia Battery Corporation (IBC) and CBL International Development, a subsidiary of Chinese battery manufacturer Contemporary Amperex Technology Co (CATL), have formed a joint venture. The joint venture aims to build a battery cell manufacturing facility in Indonesia. A partnership between the parties was first announced in 2022. Start of Production Planned for 2027 According to IBC, up to USD 1.18 billion will be invested in the plant, which is expected to have a production capacity of 15 gigawatt hours. This capacity will serve both the domestic market and international demand. Production is expected to start in 2027. The Indonesia Battery Corporation (IBC) is a state-owned consortium established in 2021 to strengthen Indonesia’s role in the global battery and electric vehicle supply chain. The consortium brings together several state-owned companies from the energy, mining and chemical sectors. A key objective of the IBC is to use the country’s large nickel deposits to establish Indonesia as a major player in the global battery industry. Source:https://www.reuters.com/markets/deals/indonesia-battery-corp-catl-unit-sign-jv-deal-state-media-says-2024-10-17/

Lyten will invest more than one billion US dollars in building the world’s first lithium-sulfur battery factory in Nevada – with an annual capacity of up to ten gigawatt-hours.

LG Energy Solution will supply batteries for electric versions of Ford commercial vehicles in Europe starting in 2026. This is the result of an agreement between the South Korean battery manufacturer and the US automotive group.  Battery modules for the electric vans will be produced at LG Energy Solution’s manufacturing facility in Poland and will serve both the UK and European markets. The supply agreement between the two companies covers a total volume of 109GWh over a period of four to six years.  Battery Production for Mach-E to Move to the USA The agreement also stipulates that the batteries for the Mach-E model of the Ford Mustang will be produced in the United States starting in 2025.  Originally planned for Poland, production will be moved to LG’s Michigan facility to take advantage of better economic conditions in the U.S., such as the IRA tax incentive. Source:https://news.lgensol.com/company-news/press-releases/3297/