This Week in Batteries: CATL, Tesla, Xiaomi, Vale Indonesia, and More.

• CATL launched new battery with 1 million mile warranty and 15-year service life (Link)
• Reuters reported Tesla canceled its plans to make inexpensive EV model (Link)

• LGES General Motors joint venture begins production at 2nd US battery plant in Tennessee (Link)
• Panasonic Energy and Indian Oil Corp forms JV to manufacture Li-ion cells in India (Link)
• Panasonic Energy to supply EV batteries to Mazda (Link)

• Tesla to explore locations in India for $3B EV factory (Link)
• Xiaomi's SU7 sub-$30K EV launches in China, cheaper than Tesla's Model 3 in China (Link)
• NIO delivered 11,866 vehicles in March 2024, increasing by 14.3% year-over-year (Link)
• BYD will launch an EV pickup to compete with the Tesla Cybertruck and Ford F-150 Lightning (Link)
• Tesla produced over 433,000 vehicles and delivered approximately 387,000 vehicles during Q1 of 2024 (Link)
• BYD reported Q1 2024 sales fell 43% compared to the Q4 of 2023 (Link)

• Tesla deployed 4,053 MWh of BESS products in Q1, the highest quarterly deployment yet (Link)
• Fluence shipping BESS for German TSO’s 250MW Grid Booster after local authority approval (Link)
• Prevalon to provide 328MWh system for Idaho Power (Link)

• Vale Indonesia targets 2024 output of about 70,800 metric tons nickel in matte (Link)
• SK On signed an MOU with Ferrari, aims to strengthen technological collaboration and promote the knowledge transfer (Link)
• NextSource plans graphite plant in Mauritius, facility to produce 3,600 tons annually, rising to 14,400 tons (Link)
• Electra Battery Materials secures cobalt supply from ERG for Ontario refinery, delivering 3,000 tons of cobalt hydroxide (Link)
• Volt Lithium has cut nearly 66% of its lithium production cost as it prepares to start the low-grade Rainbow Lake brine project in northwest Alberta in 2025 (Link)
• Sigma Lithium receives board approval for $100MM Brazil plant expansion, lithium production of 520 ktpa by 2025 (Link)
• NOVONIX and Lithium Energy to contribute their natural graphite exploration interests into a new company, Axon Graphite Limited (Link)
• Lomiko Metals announces completion of Phase 2 of the single-layer pouch cell battery testing of its La Loutre graphite material with Polaris Battery Labs (Link)

• Chilean government looks to double Its lithium output to avert risk of substitution in batteries (Link)
• Nepal issues extraction permits to 159 mines, including iron mines (Link)

• Biden-Harris Administration announces $20B in grants to mobilize private capital and deliver clean energy and climate solutions to communities across america (Link)
• PT Harum Energy acquired 51% of PT Blue Sparking Energy worth approx. $105MM (Link)
• NOVONIX to receive a $103MM 48C tax credit under the Qualifying Advanced Energy Project Allocation Program, to support production of critical battery materials from its Riverside facility in Chattanooga, TN (Link)
• Mitsui invests $30MM into Atlas Lithium, and will acquire 15 ktpa of lithium concentrate from Phase 1 and subsequently 60 ktpa for five years from Phase 2 of Atlas Lithium’s Neves Project (Link)
• Samyang Corporation invests $2.2MM into Solid Ionics (Link)
• Glencore invests $1.6MM in Stillwater Critical Minerals, expands funding from the June 2023 round (Link)
• Glencore may consider switching its primary listing from London to New York (Link)
• Shanghai Futures Exchange will explore a nickel futures internationalization plan (Link)
• EIT InnoEnergy launches the ‘One-Stop-Shop to EU Finance’ service to simplify access to public funding programmes for startups and scale-ups across the battery value chain (Link)

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