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VW and XPeng agree China EV charging network

  • Spanish Market: Battery materials
  • 08/01/25

German carmaker Volkswagen has signed an initial agreement with major Chinese electric vehicle (EV) producer XPeng to jointly build the largest super-fast EV charging network in China, Xpeng announced on 5 January.

The network will include over 20,000 charging piles operated by both parties across 420 cities in China, and will be accessible to both XPeng and Volkswagen customers. The collaboration will likely extend to develop co-branded super-fast charging stations across China in the future, XPeng said.

The initial agreement continues the growing partnership between Volkswagen and XPeng. Volkswagen invested $700mn in XPeng in July 2023, taking a 4.99pc stake in the firm. And the two companies plan to develop battery EVs under the Volkswagen brand, for sale in China.

By Ellanee Kruck


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13/01/25

Lithium prices unlikely to recover in 2025

Lithium prices unlikely to recover in 2025

London, 13 January (Argus) — Prices for lithium carbonate equivalent (LCE) are unlikely to recover this year, according to market participants, owing to high inventories and Chinese overcapacity. While the vast majority of firms have either suspended or trimmed production at costs above Argus -assessed prices (see graph) , a number of other factors have weighed on price rises, including redundant Chinese lithium refining capacity, inventories of low and mid-grade concentrate and end-of-life LFP batteries. Chinese lepidolite, African low-grade ores and Brazilian tailings are "not immune" to low prices, according to supply chain consultantcy SC Insights. Prices are currently far below highs of $80,000/t in late 2022, although not at record lows by historical standards. "We have put our lithium plant in Zimbabwe on ice for now, margins are just too tight," a southern Africa-based producer said. The market could start to recover in the second half of 2026 as carmakers turn increasingly towards lower-cost lithium iron phosphate (LFP) batteries, SC Insights said. Between 2025 and 2026, major carmakers will start "socialising the intensions of using more LFP and LFMP [lithium iron manganese phosphate]", with it especially vital that LFMP producers "react early and offer a cost-competitive solution in CAM/LIB [cathode active material/lithium-ion battery] spaces". SC Insights forecasts that global annual LCE production will tip over 2.5mn t of LCE by 2030 (see graph) , from just over 1mn t last year, based on the adoption of these newer battery chemistries. Buildout of this supply will depend, SC Insights said, on the proposed restriction of CAM/LIB technology by China. The buildout of Argentinian lithium production could be a key factor in 2025, according to SC Insights, after global mining giant Rio Tinto announced last October that it would buy Arcadium Lithium. Argentinian president Javier Milei and Rio Tinto held a meeting in December 2024 and although it is unclear what the results of that meeting were, the relationship between Rio Tinto and the Argentinian government could be important for the lithium market this year. Argentina holds the third-largest reserves of lithium at 3.6mn t behind Chile and Australia, and the second-largest pool of resources at 23mn t, behind Bolivia, according to the US Geological Survey in January. By Chris Welch Cost of production, lithium carbonate equivalent (LCE) Lithium carbonate equivalent (LCE) production t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Hyundai Motor plans $16.7bn Korean investment in 2025


09/01/25
09/01/25

Hyundai Motor plans $16.7bn Korean investment in 2025

Singapore, 9 January (Argus) — South Korean conglomerate Hyundai Motor, which owns major automotive brands Hyundai and Kia, plans to invest 24.3 trillion won ($16.7bn) in South Korea this year in what it said is its largest ever annual investment domestically. The domestic investment amount is W3.9 trillion or 19pc higher than in 2024, in a bid to "overcome the crisis" and "secure future growth engines" given global uncertainties through "continuous and stable" investment, said the group on 9 January. Around W12 trillion will go into its current investments and W11.5 trillion will go to research and development, while another W800bn will be injected into what it called "strategic investment". Hyundai Motor still plans to continue developing new electric vehicles (EVs) and accelerating the electrification transition, it said. A major investment in building an EV-only plant will be made this year, said the conglomerate. Kia's battery EV plant in Hwaseong that has a production capacity of 150,000 units/yr is still expected to be completed in the second half of 2025. Its EV plant in Ulsan is currently under construction and is expected to begin producing in the first half of 2026. Kia is expected to feature a full line-up of 15 EV models by 2027, while Hyundai is expected to have 21 EV models by 2030, said the group. The conglomerate sold around 4.14mn units of vehicles in 2024, down by 1.8pc on the year, mainly driven by lower domestic sales. Domestic sales totalled 705,010 units, down by 7.5pc on the year ,while its overseas sales were steady at almost 3.44mn units. A sales target of 4.17mn units has been set for 2025. South Korea's top battery maker LG Energy Solution (LGES), which supplies a significant number of batteries for Hyundai's and Kia's EV models, is expecting its 2024 operating profit and sales to see sharp falls, it said on 9 January. LGES earlier similarly indicated an uncertain outlook on the battery and EV market. LGES expects its 2024 operating profit to plunge by 73pc to W575.4bn and sales to fall by 24pc to W25.6 trillion. LGES expects to post its only quarterly loss of the year for October-December of W225.5bn, with sales expected to be down by 19pc on the year to W6.45 trillion during the quarter. LGES earlier has warned that significant cuts in capital expenditure from the firm during 2025 can be expected. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mazda to build Li battery pack plant in Japan


08/01/25
08/01/25

Mazda to build Li battery pack plant in Japan

Houston, 8 January (Argus) — Japanese automaker Mazda Motor plans to build a lithium battery module pack plant in Japan with an annual production capacity of 10GWh. Located in Yamaguchi, Japan, the plant will produce modules and packs for automotive cylindrical lithium-ion battery cells sourced from Japan's Panasonic Energy, Mazda said on Monday. These packs will be installed in Mazda's battery electric vehicles (BEVs) that uses a dedicated EV platform and manufactured at Mazda's vehicle plant in Japan. In September 2024, Mazda and Panasonic formed a partnership to supply battery for Mazda's upcoming BEVs set to launch in 2027. Japan's Ministry of Economy, trade and Industry approved their joint initiative aimed at expanding battery production and advancing technology development. By Carol Luk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Lithium Americas increases Thacker Pass reserve


07/01/25
07/01/25

Lithium Americas increases Thacker Pass reserve

Houston, 7 January (Argus) — US lithium producer Lithium Americas raised its estimated mineral resource and reserves for the Thacker Pass lithium project, supporting an expansion that could boost its battery grade lithium carbonate capacity up to 160,000 metric tonnes (t)/yr. The updated proven and probable mineral reserve estimate for the Thacker Pass project now stands at 14.3mn t of lithium carbonate equivalent (LCE), marking a 286pc increase since the November 2022 feasibility study, according to the latest technical report. Thacker Pass is now the largest measured lithium reserve and resource in the world and has the potential to become an unmatched district, generating American jobs and helping the US regain independence of its energy supply, president and chief executive Jonathan Evans said. The increase enables a phased expansion with an 85-year life of mine (LOM), targeting 160,000 t LCE/year, split into four phases of 40,000 t LCE/yr each. Construction of each of Phases 1 through 4 is expected to be spaced four years apart. US automaker General Motors (GM) holds a 38pc ownership stake in the project. GM has secured an offtake agreement for 100pc of Phase 1 output for 20 years, and 38pc of Phase 2 output for 20 years, with a right of first offer on the remaining Phase 2 volumes. The updated operating costs (OPEX) are $6,238/t LCE under the production scenario, optimized for the first 25 years of the 85-year LOM; and $8,039/t LCE in the base case, which covers the entire 85-year LOM. Carol Luk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

UK edges Germany to top Europe BEV market in 2024


07/01/25
07/01/25

UK edges Germany to top Europe BEV market in 2024

London, 7 January (Argus) — Sales of battery electric vehicles (BEVs) in the UK last year climbed by 21pc to 381,000 units, according to the Society of Motor Manufacturers and Traders (SMMT), as the country overtook Germany to become the largest BEV market in Europe. Sales in the UK climbed furthest towards the end of the year, driven by strong corporate subsidies ( see graph ) . S ales in Germany slumped by 27pc to 380,609 units, as consumers continued to feel the loss of a €4,500 purchasing subsidy in December 2023. Sales in France last year edged down by 2pc , and the halving of EV buyers' subsidies announced in November because of budget constraints is expected to weigh on sales further. France is Europe's third-largest market ( see graph ). UK market stays open to China-made EVs One reason for the UK's surge in BEV sales, after corporate incentives, is trade policy. The UK is one of the few established BEV markets without surplus tariffs on China-made BEVs, beyond unilateral 2.5pc duties agreed by member states of the World Trade Organisation (see graph) . Japan, another unrestricted market, recorded just 4,531 units in November compared with 38,531 sales in the UK. Sales of China-branded BEVs in western Europe have jumped to over 3pc of overall car sales in recent years, a sharp rise but still insignificant as a market share (see graph) . But Chinese carmakers accounted for over a half of BEV sales in Europe — 51pc in January-September last year, up from 46pc a year earlier — according to market research firm JATO Dynamics. UK corporate sales continue to prop up BEV sales UK private sales to individuals accounted for just 1 in 10 BEV sales last month — of which there were 44,312 — according to SMMT chief executive Mike Hawes. The remainder — around 89pc — were corporate car sales, much higher than the corporate sector's share of 68.5pc in the overall car sales market. This has risen sharply in recent years, from 57pc and 49pc in 2023 and 2022, respectively . "At first glance, the apparent drop in demand from private buyers for electric cars may seem concerning. However, it reflects a fundamental shift in how we finance vehicles," Tom Barnard, analyst at Electrifying.com, said. "It's important to note that the sales figures from 2024 exclude private buyers who have benefited from the excellent deals on EVs available through salary sacrifice or personal lease schemes, as these are recorded as fleet registrations." "Too many PCPs [personal contract purchases], contract hire, finance and motability purchases are recorded as fleet sales when they're being driven by private buyers," Quentin Wilson, founder of EV campaign group FairCharge, said. "We need to change the way these EV registrations are recorded, and fast." By Chris Welch UK BEV sales 2022-24 Europe's three largest BEV markets by sales Tariffs on Chinese-made EVs of selected EV markets West European new passenger car market share pc Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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