BYD, KG Mobility to build S Korean battery pack plant

Spanish Market: Battery materials
03/11/23

Major Chinese new energy vehicle and lithium-ion battery manufacturer BYD on 2 October agreed a deal with South Korean auto producer KG Mobility to jointly develop a battery pack plant and next-generation hybrid systems.

The battery packs will be installed in some of KG Mobility's electric vehicle (EV) models poised to be in mass production in the second half of 2024 before being expanded to more future models, according to KG Mobility, previously known as Ssangyong Motor. Production capacity, timelines and investment in the planned South Korean battery pack plant were undisclosed.

KG Mobility's total sales in October fell by 51.3pc from a year earlier to 6,421 units because of weaker domestic sales and consumer sentiment.

South Korea is planning to push export expansion projects in sectors such as EVs, secondary batteries and hydrogen on the back of a prolonged export downturn, the country's trade and industry ministry said in October.

The nation's manufacturing activity continued contracting in October, extending its streak to 16 consecutive months. South Korea's latest purchasing manager index (PMI), compiled by S&P Global, dipped slightly to 49.8 in October from 49.9 in September. A PMI reading above 50 points to an expansion in activity, while a reading below that level suggests a contraction.

South Korean Nonghyup Bank this month agreed to provide 1 trillion won ($757mn) of financial support through corporate loans and payment guarantees over the next three years to South Korean battery manufacturer SK On, which the producer said will strengthen its competitiveness.

By Joseph Ho

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11/11/24

China, Indonesia to strengthen mineral, renewable ties

Beijing, 11 November (Argus) — China and Indonesia have agreed to strengthen co-operation in the critical mineral and renewable energy sectors, during new Indonesian president Prabowo Subianto's first visit to the country since taking power last month. "The two sides will tap the potential to co-operate in new energy vehicles, lithium batteries and photovoltaics," according to a joint government statement issued during Prabowo's visit to Beijing on 8-10 November. China will support Indonesia's efforts to speed up the transformation of its energy sector and will carry out more "high-quality" co-operation with Indonesia in the digital economy, clean energy industry and energy infrastructure sectors, the statement said. "Indonesia welcomes Chinese enterprises to invest in Indonesia and we look forward to closer co-operation in various fields," Prabowo said at a China-Indonesia business forum on 10 November. Prabowo chose China as his first overseas destination as president, reflecting growing investment ties between the two countries. Chinese companies have set up more projects in Indonesia in recent years, especially in the electric vehicle power battery industry and steelmaking sectors. Major Chinese lithium cathode precursor manufacturer Green Eco-Manufacture (GEM) signed a deal with mining firm Vale Indonesia to develop a high-pressure acid leaching (HPAL) project in Sulawesi during Prabowo's visit. The project will produce mixed hydroxide precipitate (MHP), a key feedstock in the production of battery cathodes. Indonesia is the world's largest nickel producer. The country's share of global output could reach 60.6pc in 2024 and 62.8pc in 2025, mainly thanks to rising production from Chinese-backed projects, according to the International Nickel Study Group (INSG). Chinese battery cathode material producer Changzhou Liyuan in early October signed an agreement with the Indonesia Investment Authority (INA) consortium to expand capacity of its lithium iron phosphate plant in Indonesia to 120,000 t/yr by 2025, from 30,000 t/yr in the existing first phase. The Indonesian project is likely to become the biggest LFP plant outside China. Chinese companies are also seeking to secure more aluminium supplies from Indonesia. East China-based Nanshan Aluminium is expanding production capacity at its alumina refinery in Indonesia's Bintan industrial park and is also building a 250,000 t/yr refined aluminium plant in the country. State-owned Chalco is building a 1mn t/yr metallurgical alumina plant in Indonesia, while Tianshan Aluminium is working on an alumina plant in the country that will produce 1mn t/yr in its first phase. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Japan’s domestic EV sales fall further in October

08/11/24

Japan’s domestic EV sales fall further in October

Tokyo, 8 November (Argus) — Sales of passenger electric vehicles (EVs) in Japan fell for a 12th straight month in October, mostly because of a drop in demand for domestic brands. Sales totalled 4,325 units in October, down by 35.1pc from a year earlier, according to data from three industry groups — the Automobile Dealers Association, the Japan Light Motor Vehicle and Motorcycle Association and the Japan Automobile Importers Association (JAIA). Sales were down by 32.7pc on the previous month. EVs accounted for just 1.3pc of Japan's total domestic passenger car sales last month, down by 0.7 percentage points from a year earlier. The fall in EV sales was mostly the result of lower sales of Nissan's Sakura, one of the domestic producer's top selling EV models. Sakura sales slumped by 51.6pc on the year to 1,448 units. Sales of foreign brand passenger EVs fell to 1,900 units, down by 4pc on the year. The decline largely reflected reduced supply by Germany's Volkswagen, a JAA representative told Argus . It remains unclear if the downtrend will continue given demand for imported EVs remains high in the Japanese market, the representative added. Imported EVs accounted for around 44pc of the country's total passenger EV sales in October. Japan's largest car producer Toyota on 6 November revised its global EV sales outlook downwards to 160,000 units for the current fiscal year that ends 31 March 2025. This is 11,000 units lower from the initial plan announced in May, the company said. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Finland's Terrafame to cut battery jobs on EVs slowdown

30/10/24

Finland's Terrafame to cut battery jobs on EVs slowdown

London, 30 October (Argus) — Finnish battery chemicals maker Terrafame is set to cut its workforce on slowing demand for electric vehicles (EVs) and battery materials, joining a growing number of companies adjusting their operations in view of challenging market conditions. "According to the company's initial estimate, the maximum personnel reduction need would be 75 person-years," the firm said, nearly 10pc of its 826-strong workforce as of the end of last month. The firm is also looking to shift employees to part-time positions and change job descriptions. The news is the latest in a series of blows for the Finnish firm, after reporting a 34pc year-on-year fall in battery chemicals sales revenue over the first half of this year. And in April, the firm temporarily halted one of its battery chemicals plants after several weeks of workers strikes. Terrafame has supply agreements with German cathode active materials producer Umicore , American-French-Italian carmaker Stellantis and French carmaker Renault for high-grade nickel sulphate to be used in EV batteries. By Chris Welch Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Korea's LGES sees battery market uncertainties in 2025

29/10/24

Korea's LGES sees battery market uncertainties in 2025

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Atlas Lithium granted permit for Brazil plant

28/10/24

Atlas Lithium granted permit for Brazil plant

London, 28 October (Argus) — US lithium producer Atlas Lithium has been granted permits from the state of Minas Gerais in Brazil to build and operate its lithium refinery. The refinery, which will process mined ore from one of Atlas' deposits, is set to scale up to 300,000 t/yr of lithium concentrate production by mid-2025, the firm said last December. The permitting encompasses 85 mineral rights across approximately 468sq km, including regions Neves, Coronel Murta, Eastern Properties, Itinga, Salinas, Santa Clara and Tesouras. "We are thrilled with today's announcement, as permitting is widely considered the most critical risk in any mining project," said chief executive Marc Fogassa. The firm has signed offtake agreements with Japanese trading house Mitsui as well as Chinese firms Chengxin Lithium Group and Yahua Industrial Group . By Chris Welch Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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