BatteryTech News & Updates – 2024 #7

?? Funding For ACC’s Gigafactories Across Europe Totals €4.4 Billion

ACC has finalized a €4.4 billion debt financing deal to build three new gigafactories in France, Germany, and Italy, aiming to expand lithium-ion battery cell production for electric vehicles in Europe.

This financing is among the largest in the European EV industry and includes contributions from a consortium of commercial banks such as BNP Paribas, Deutsche Bank, ING, and Intesa Sanpaolo, along with support from Bpifrance, Euler Hermes, and SACE.

The first gigafactory began production in Billy-Berclau/Douvrin, France, in December 2023, meeting its scheduled start date and demonstrating ACC's commitment to addressing the growing demand for EV batteries.

Source: https://creative-marketing.org/battery-technology-news/funding-for-accs-gigafactories-across-europe-totals-4-4-billion/ | Automotive Cells Company (ACC)

?? China Forms Solid-State Battery Collaboration With CATL, BYD, Nio, CALB, And Others

CASIP, a government-led consortium in China, has been formed to spearhead advancements in solid-state battery technology, aiming for a competitive production landscape by 2030. The platform includes leading battery manufacturers such as CATL, CALB, EVE Energy, SVOLT, Gotion High-Tech, and BYD's FinDreams Battery, as well as automotive giants like BYD and Nio.

This initiative is supported by key Chinese ministries, including the Ministry of Industry and Information Technology and the Ministry of Science and Technology, alongside the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), and the National Energy Administration.

Source: https://creative-marketing.org/battery-technology-news/china-forms-solid-state-battery-collaboration-with-catl-byd-nio-calb-and-others/ | Asia Financial

?? 24M’s New Electrolyte Increases Cycle Life Of Lithium-Metal Batteries

24M Technologies has developed a new electrolyte named Eternalyte?, designed to significantly enhance the performance and cycle life of lithium-metal batteries. Eternalyte enables lithium-metal batteries to achieve an impressive range of approximately 1,000 miles (ca. 1,600 km) per charge and a total range exceeding 500,000 miles (ca. 804,672 km), setting a new benchmark for liquid electrolyte systems.

The technology ensures 83% capacity retention over 500+ cycles at a 1C discharge and 1C charge rate, offering the highest cycle stability among liquid electrolyte systems. With energy densities reported at 391 Wh/kg and 887 Wh/l, Eternalyte? marks a significant advancement in battery efficiency and capacity.

Source: https://creative-marketing.org/battery-technology-news/24ms-new-electrolyte-increases-cycle-life-of-lithium-metal-batteries/ | 24M Press Release

?? Panasonic Energy Partners with NOVONIX for Sustainable Synthetic Graphite Supply in EV Battery Production

Panasonic Energy has signed a purchase agreement with Novonix, an Australian battery materials company, to supply synthetic graphite for use in electric vehicle battery manufacturing in the United States. The agreement spans four years, from 2025 to 2029, during which Panasonic will receive up to 10,000 tons of synthetic graphite from Novonix's facility in Tennessee.

Source: Panasonic Press Release

?? LG Energy Solution Strengthens Partnership with WesCEF, Secures Stable Lithium Supply Chain for the North American Market

LG Energy Solution has signed a second offtake agreement with WesCEF to expand its lithium supply chain, focusing on competitive procurement for the North American market. The agreement includes the supply of up to 85,000 tons of lithium concentrate from WesCEF’s Mt. Holland lithium project, which is expected to produce about 11,000 tons of lithium hydroxide essential for cathodes in batteries.

One of the biggest hard-rock lithium projects in the world, the Mt. Holland lithium project in Western Australia, is currently under development, with production anticipated in the first half of 2025. It has secured over AUD 2 billion in funding from its joint venture partners.

Source: LG Press Release

?? NMG and Panasonic Energy secure a US$25M deal for North American battery material supply

Nouveau Monde Graphite Inc. (NMG) and Panasonic Energy have signed a significant multiyear binding offtake agreement and investment partnership to secure the supply of 18,000 tonnes of active anode material per year for North American battery production.

Panasonic has invested $25 million in NMG's Phase-2 operations and may co-invest $150 million in facility construction. The news corresponds with a similar supply and investment deal with General Motors, marking a major step toward achieving US$275 million in anchor customer finance.

Source: NMG Press Release

?? Commercial Li-ion batteries made with Novacium’s first gen engineered SiOx Material

HPQ Silicon Inc. and its French subsidiary, Novacium SAS, have successfully applied Novacium's engineered SiOx material in the production of 18650 industrial batteries, marking a significant advancement in lithium-ion battery technology.

Novacium's engineered SiOx material was used to replace 10% of the graphite in the anode of a batch of batteries to improve performance without requiring changes to existing manufacturing processes. Preliminary results from charge/discharge cycle tests show a 14% improvement in battery capacity over the 100% graphite anode benchmark batteries, exceeding initial expectations of a 10% performance improvement.

Source: https://batteryindustry.tech/commercial-li-ion-batteries-made-with-novaciums-first-gen-engineered-siox-material/

?? LGES to launch 4680 series production for Tesla in August

LG Energy Solution (LGES) is set to begin series production of 4680 cylindrical cells in August 2024 at its Ochang plant in South Korea, with plans to expand production to the USA by the end of 2025, indicating significant strides in battery technology and supply chain expansion for electric vehicles.

The Ochang plant's expansion was announced in 2022, aiming for a capacity of 9 GWh/year, specifically for these large-volume cylindrical battery cells. Tesla has been confirmed as a customer for these 4680 cells, which are used in certain Model Y versions, the Semi electric truck, and the Cybertruck.

Source: https://www.electrive.com/2024/02/15/lges-to-launch-4680-series-production-in-august/

?? Tata Group Considering Spinoff of Battery Business Agratas

Tata Group is in the early stages of discussions about spinning off its battery business, Agratas Energy Storage Solutions Pvt, into an independent entity. The move aims to allow Agratas to raise funds independently and possibly go public in Mumbai, with a potential valuation of $5 billion to $10 billion.

Tata Motors, part of the Tata Group, saw its shares rise by 3.1% following the news, indicating positive market reception to the spinoff consideration. Agratas specializes in designing and manufacturing batteries for the automobile and energy sectors, with operations in India and the UK, serving major clients like Tata Motors and Jaguar Land Rover.

Source: https://www.bnnbloomberg.ca/tata-group-considering-spinoff-of-battery-business-agratas-1.2035266

?? BorgWarner Signs International Strategic Relationship Agreement with FinDreams Battery for LFP Battery Packs

BorgWarner Inc. announced a strategic relationship agreement with FinDreams Battery to manufacture LFP battery packs for commercial vehicles (class 3 and above) in Europe, the Americas, and parts of Asia Pacific. The agreement designates BorgWarner as the only non-OEM localized manufacturer with rights to utilize FinDreams Battery blade cells for LFP battery packs in the specified regions, with the partnership lasting 8 years. BorgWarner will receive advanced blade cells for manufacturing LFP battery packs and a license to use FinDreams Battery’s intellectual property related to battery pack design and manufacturing processes.

Source: BorgWarner NewsRoom

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