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☆ Inside a Michigan Town's War Over a Chinese-Owned Battery Plant
▼ + stars: | 2024-03-10 | by ( Brent Crane | ) www.businessinsider.com time to read: +24 min

This was nothing short of a communist invasion, in his eyes, and the patriots of Green Charter needed to rise up and confront the Red Peril. But the backlash in Green Charter represents something seldom seen since the Red Scare: a quasi-militant, homegrown resistance to the perceived threat of communism at home. But as the war over Gotion began to consume Green Charter, Riebow began to feel that the township board was behaving "too secretly." It's easy to dismiss what's happened in Green Charter as yet another sign of America's descent into dangerous incivility. Asked about Gotion's plans in Green Charter, Panetta replied, "I don't think there's any question that they are going to take advantage of that situation."

Persons: Jeff Peticolas, Sam Peticolas, He'd, Peticolas, Gos, Green, Matt Harrison Clough, Jim Chapman, I've, Chapman, freaked, Rush Doshi, Joe Biden's, Doshi, Donald Trump, Sen, Katie Britt, Lori Brock, Kristina Karamo, Lana Theis, John Moolenaar, it's, Gotion, John Holdsworth, I'm, Tracy Ruell, Ruell, Carlleen Rose, she'd, Suzi, Tim Hahn, Hahn, texted Hahn, Jeff, Corri Riebow, She'd, Riebow, Breitbart, Gretchen Whitmer, —, we've, Holdsworth, Jason Kruse, Kruse, that's, Kruse demurred, Hahn's, we're, We're, what's, William Evanina, Leon Panetta, Barack Obama's, Panetta, Brent Crane Organizations: Imperial, Pacific, Nikon, Ferris State University, Tech, Green Charter, BI Green Charter, Michigan, United States, Chinese Communist Party, Michigan Republican Party, Michigan GOP, WE, Republican, Republicans, Gotion, Treasury Department, BI, CCP politburo, Party, Communist Party of China, SAIC, Nexteer Automotive, Facebook, Big Rapids, Local, Moolenaar, Fox News, Daily Mail, Gov, Green Charter's, Ferris State, Big, FBI Locations: Pearl, He'd, Imperial Japan, Vietnam, Mecosta County , Michigan, American, Green Charter, Green, China, Green Charter's, Montana, Beijing, Arkansas, Reedley , California, Manteno , Illinois, Washington, America, United, United States, Biden's State, Alabama, Mecosta County, Michigan, Sweden, Big Rapids, enervated, Gotion, Northern Michigan, USA, Filipino, Charter, San Diego

☆ Goldman Sachs loves these 4 global battery stocks — giving one more than 120% upside
▼ + stars: | 2024-01-24 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

As electric vehicle automakers like Tesla and BYD continue to make headlines, Goldman Sachs is watching the battery sector closely. Stocks with buy ratings Goldman's buy-rated stocks in the sector include South Korean companies LG Chem, Samsung SDI and LG Energy. It has a target price of 710,000 Korean Won ($530) on LG Chem and 800,000 Korean Won on Samsung SDI, representing potential upside of 81.6% and 123.2%, respectively. Meanwhile, It expects the price of LG Energy to hit 550,000 Korean Won in the next 12 months, representing 47.3% upside. The investment bank has a buy rating on the stock at 20.47 yuan ($2.84), giving it around 6.2% upside.

Persons: Goldman Sachs, Nikhil Bhandari, Goldman, — CNBC's Michael Bloom Organizations: EV, LG Chem, Samsung SDI, LG Energy, Won, U.S, Gotion High Tech, Mast, Recycling, Gotion, Tech Locations: EU, 2025E, South, Korean, United States, Switzerland

BRATISLAVA, Slovakia (AP) — The Slovak government signed a memorandum of understanding on Thursday with Chinese electric vehicle battery maker Gotion High-Tech and its local partner, InoBat, to build a car battery plant in Slovakia. The two companies formed Gotion InoBat Batteries, a Chinese-Slovak venture to build the plant in the town of Surany, about 100 kilometers (60 miles) east of Bratislava. German car giant Volkswagen is the largest shareholder in Gotion High-Tech with a 24.77% stake. Volkswagen has a car plant in Slovakia. Gotion High-Tech began production in its first European plant in Gottingen, Germany, in September.

Organizations: Tech, Volkswagen Locations: BRATISLAVA, Slovakia, Surany, Bratislava, Gotion, Gottingen, Germany

☆ Global EV battery supply chain puzzles over China graphite curbs
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +6 min

Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. China dominates the global EV battery supply chain including production of graphite - the single largest component. Graphite companies in the country process both the natural material mined domestically and overseas, as well as synthetic forms. Under the new rules, China will require export permits starting Dec. 1 for high-end synthetic graphite, as well as key forms of natural graphite. NATURAL GRAPHITE HITGlobal companies using natural graphite include Hitachi Chemical, part of Japan's Resonac Holdings Corp (4004.T), South Korea's POSCO Future M (003670.KS) and Japan's Mitsubishi Chemical, which produces natural graphite at two plants in China, according to research firm CRU Group.

Persons: Fabian Bimmer, Sunit Kapur, Zhang Yan, Siyi Liu, Brenda Goh, Satoshi Sugiyama, Heekyong Yang, Seoul ， Paul Lienert, Jing Xu, Dominique Patton, Tony Munroe, David Evans Organizations: Volkswagen, REUTERS, Rights, EV, Qingdao, Reuters, China's Ministry of Commerce, Gotion High Tech, BTR, Material Technology, Hitachi Chemical, Japan's Resonac Holdings Corp, Mitsubishi Chemical, CRU Group, Mitsubishi, Resources, Materials, Thomson Locations: Salzgitter, Germany, Beijing, China, Japan, South Korea, United States, U.S, Shanghai, Ningbo Shanshan, Indonesia, Finland, Japan's, Australia, Mozambique, U.S ., Louisiana, North Carolina, Toyko, Seoul ，, Detroit

☆ America and Europe need China's EV battery technology, says Gotion Global
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerica and Europe need China's EV battery technology, says Gotion GlobalQian Cheng of Gotion Global says the company is confident its Illinois and Michigan projects will proceed and discusses how the company is approaching the Asia market.

Persons: Qian Cheng, Gotion Organizations: America, Gotion Global Locations: Europe, Illinois, Michigan, Asia

☆ Goldman names global winners and losers from sliding battery prices; gives one 120% upside
▼ + stars: | 2023-10-11 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"It's more a virtuous cycle —lower battery prices mean more competitively priced EV cars [and in turn] higher adoption and higher demand." Technological developments such as direct lithium extraction could also cause a shake-up in battery prices. Battery market 'winners' Despite some potential risks, Bhandari identified several global stocks that look set to gain from the fall in battery prices. Battery market 'losers' Goldman also revealed a list of potential "losers" in the battery market, or stocks it has a sell call on right now. It gives Gotion a 22.6 Renminbi price target, or 1.8% downside.

Persons: Goldman Sachs, ning, Nikhil Bhandari, CNBC's, Bhandari, —, Envicool, Goldman, CNBC's Naman Tandon Organizations: Battery, LG Chem, Korean, Panasonic, Hong Locations: China, Africa, Latin America, Hong Kong

☆ US Republicans push for security review of China-linked battery company
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Amanda Andrade Rhoades/File Photo Acquire Licensing RightsWASHINGTON, Sept 20 (Reuters) - Republican lawmakers on Wednesday urged the U.S. Treasury Department to conduct a security review over China-linked ownership of Gotion Inc, which plans to build electric vehicle battery plants in Michigan and Illinois, arguing its management is under Beijing's sway. The move is the latest push by Republicans to question Chinese-linked EV battery producers looking to set up shop in the U.S., possibly with access to taxpayer funding. The governors of Michigan and Illinois have announced plans for Gotion to open EV plants in their states, facilities expected to create thousands of jobs. Those include the company's founder Li Zhen and his son whom, they said, were members of CCP organizations. The Treasury Department, Gotion and Gotion High-Tech did not respond immediately to requests for comment.

Persons: Marco Rubio, Amanda Andrade Rhoades, Janet Yellen, Li Zhen, Joe Biden, Tesla, Ford, Michael Martina, Timothy Gardner Organizations: Capitol, REUTERS, Rights, Republican, Wednesday, U.S . Treasury Department, Gotion Inc, Foreign Investment, China's Communist Party, Germany's Volkswagen AG, Gotion, Tech, CCP, Treasury Department, Republicans, CATL, Thomson Locations: Ukraine, Washington , U.S, China, Michigan, Illinois, U.S, United States

☆ China's Gotion to set up a $2 billion lithium battery plant in Illinois
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Companies Gotion High tech Co Ltd FollowSept 8 (Reuters) - China's Gotion High-tech Co Ltd (002074.SZ) will set up a $2 billion electric vehicle (EV) lithium battery manufacturing plant in Manteno, Illinois that would create about 2,600 new jobs, the state governor's office said on Friday. "Gotion's battery technology will help to boost e-mobility in North America and the economic and trade exchanges between China and the United States," said Gotion chairman Li Zhen. Gotion will be eligible to receive tax benefits totaling $213 million over 30 years and also get $125 million in capital funding from the U.S. state's Reimagining Energy and Vehicles incentive package. Once completed, the facility in Manteno is expected to produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells, according to the statement. Reporting by Pratyush Thakur in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Zhen, Pratyush Thakur, Shailesh Organizations: Gotion, Co, Global EV, state's Reimagining Energy, Thomson Locations: Manteno , Illinois, North America, China, United States, Manteno, Bengaluru

☆ Exclusive: China's Gotion buys 25% stake in Slovak EV battery startup Inobat
▼ + stars: | 2023-09-01 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Sept 1 (Reuters) - Chinese battery maker Gotion High Tech (002074.SZ) is buying a 25% stake in Slovak battery maker Inobat and will provide supply chain and technology support as the startup scales up production of electric vehicle batteries, the companies said on Thursday. Inobat said the investment will provide it access to Gotion's research and development, as well as to the Chinese battery maker's raw materials including lithium, and to cell production and recycling capabilities. Gotion said last year that it plans to locate one third of its production capacity outside China by 2025 to meet growing demand from EV makers and energy storage clients. The Chinese battery maker is building a $2.36 billion plant in Michigan and is looking at setting up an EV battery plant in Morocco with a potential investment of up to $6.3 billion. Inobat has signed declarations of intent with the governments of Spain and Serbia to build EV battery plants, though those agreements are not final.

Persons: Inobat, Li Zhen, Northvolt, Gotion, Nick Carey, Simon Cameron, Moore Organizations: Gotion High Tech, Gotion, Volkswagen, Volvo, Reuters, BlackRock, EV, Thomson Locations: Europe, North America, China, Michigan, Morocco, Spain, Serbia

☆ RPT FACTBOX As electric cars take off, makers pledge $11.3 billion for US lithium iron phosphate
▼ + stars: | 2023-06-23 | by ( Paul Lienert | ) www.reuters.com time to read: +1 min

June 23 (Reuters) - Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. Here is a look at some of the announced LFP projects. FORDFord Motor (F.N) is planning to open a $3.5 billion LFP manufacturing plant in 2026 in Marshall, Michigan, using technology licensed from China’s CATL (300750.SZ). FREYRNorwegian battery startup Freyr (7XN.F) expects to open a $1.7 billion battery plant outside Atlanta, using technology from Aleees and 24M. ICLIsrael’s ICL Group (ICL.TA) has announced it will build a $400 million battery materials plant near St Louis, Missouri, to open in 2024.

Persons: China’s, FREYR, Paul Lienert, Matthew Lewis Organizations: FORD Ford Motor, LG, ICL, Thomson Locations: United States, U.S, Marshall , Michigan, KS, Holland , Michigan, Big Rapids , Michigan, FREYR Norwegian, Atlanta, Aleees, Michigan, Van Buren Township, St Louis , Missouri, Detroit

☆ Factbox: As electric cars take off, makers pledge $14.3 billion for US lithium iron phosphate
▼ + stars: | 2023-06-22 | by ( Paul Lienert | ) www.reuters.com time to read: +1 min

June 22 (Reuters) - Interest and investment in lithium iron phosphate (LFP) battery cells and materials, used to power electric vehicles, continue to climb in the United States. FORDFord Motor (F.N) is planning to open a $3.5 billion LFP manufacturing plant in 2026 in Marshall, Michigan, using technology licensed from China’s CATL (300750.SZ). GMGeneral Motors (GM.N) has announced a $3 billion LFP plant in Fort Wayne, Indiana, with partner Samsung SDI (006400.KS), to open in 2026. FREYRNorwegian battery startup Freyr (7XN.F) expects to open a $1.7 billion battery plant outside Atlanta, using technology from Aleees and 24M. ICLIsrael’s ICL Group (ICL.TA) has announced it will build a $400 million battery materials plant near St Louis, Missouri, to open in 2024.

Persons: China’s, FREYR, Paul Lienert, Matthew Lewis Organizations: FORD Ford Motor, GM General Motors, Samsung SDI, LG, ICL, Thomson Locations: United States, U.S, Marshall , Michigan, Fort Wayne , Indiana, KS, Holland , Michigan, Big Rapids , Michigan, FREYR Norwegian, Atlanta, Aleees, Michigan, Van Buren Township, St Louis , Missouri, Detroit

☆ Analysis-In China's lithium hub, mining boom comes at a cost
▼ + stars: | 2023-06-15 | by ( Siyi Liu | Dominique Patton | ) www.reuters.com time to read: +7 min

FILE PHOTO: A vehicle is seen near a lithium smelter in Yichun, Jiangxi province, China March 30, 2023. It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China’s top lithium producers Ganfeng Lithium and Tianqi Lithium. Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. ‘NATURAL RESOURCES CHAOS’Further dimming the outlook for lepidolite, environmental damage is a growing concern. UBS analysts see China’s supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun’s target.

Persons: ”, Yang Yaohua, Yang, Wu Wei, Eric Norris, ” Norris, Yongxing, Yichun, Ma Jun, ” Ma, Vicky Zhao, Li Qi Organizations: REUTERS, Staff, Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, lepidolite, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence Locations: YICHUN, China, Yichun, Jiangxi province, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi

It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China's top lithium producers Ganfeng Lithium (002460.SZ), (002460.SZ) and Tianqi Lithium (002466.SZ). Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. 'NATURAL RESOURCES CHAOS'Further dimming the outlook for lepidolite, environmental damage is a growing concern. As it gets stricter now, lithium resources in Yichun will lose their competitiveness with the higher costs for environmental protection," Ma said. UBS analysts see China's supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun's target.

Persons: YICHUN, Yang Yaohua, Yang, Wu Wei, Eric Norris, Norris, Yongxing, Yichun, Ma Jun, Ma, Vicky Zhao, Li Qi, Siyi Liu, Dominique Patton, Ernest Scheyder, Tony Munroe, Sonali Paul Organizations: Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, Corp, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence, Beijing Newsroom, Thomson Locations: China, Yichun, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi, Houston

The London Stock Exchange and British officials are ramping up efforts to build a robust pipeline of Chinese firms, trading on London's status as Europe's deepest capital market. Edwards said he thought London was "an obvious choice" for many Chinese companies "given the issues around the U.S.-China relationship." However, the China-Switzerland Connect - an eight-month-old rival scheme - is gaining more traction among Chinese companies, partly due to a relatively easier process. The London Stock Exchange is "actively looking at how they can address some of the issues," Edwards said. Edwards said officials have identified hundreds of Chinese companies that could potentially issue GDRs in London and "are actively approaching them at the moment."

Concerns that Chinese investors are buying overseas to make a quick profit at home are valid. Since last year, 11 Chinese companies have raised a combined $3.6 billion by selling GDRs on the Six Swiss Exchange, data from Dealogic show. Savvy punters with access to foreign funds can therefore make a quick and relatively risk-free profit by shorting the Chinese stock and buying the discounted GDRs. This helps explain why Swiss shares of Chinese companies barely trade. Since the launch of a China-Swiss stock scheme in 2022, 11 Chinese companies have raised a combined $3.6 billion, according to data from Dealogic.

☆ CATL’s battery ram is losing power
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 10 (Reuters Breakingviews) - Chinese battery maker Contemporary Amperex Technology (300750.SZ) posted earnings growth of 61% for the quarter ended December on Thursday. The company led by Robin Zeng boasts unrivalled economies of scale, allowing it to drive down costs for clients including Tesla (TSLA.O). Alas, in China, which accounts for four fifths of CATL’s top line, such dominance is drawing unwanted attention. On Monday, during a meeting between Zeng and Chinese President Xi Jinping, the Party leader expressed mixed feelings about CATL’s 37% global market share. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

HONG KONG, March 9 (Reuters Breakingviews) - European financial centres are rolling out the red carpet for Chinese companies. Its free-float market capitalisation of $1.9 trillion is just a tenth of the New York Stock Exchange, January data from the World Federation of Exchanges show. Yet as tensions between Washington and Beijing rise and Chinese companies in New York face the threat of delisting, traditionally neutral Zurich has become an attractive alternative. That removes the risk that overseas regulators will demand access to mainland companies’ books - the source of a lengthy spat between the U.S. Public Company Accounting Oversight Board and Beijing. Deutsche Börse (DB1Gn.DE), which operates Frankfurt’s stock exchange, is technically ready to launch the China-Germany Stock Connect, board representative Niels Tomm said in November.

☆ Volkswagen pauses on Europe battery plants, awaits EU response to IRA
▼ + stars: | 2023-03-08 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

"De facto it is the case that we are getting ahead far faster in North America," a person close to the matter said to Reuters, declining to be named. Asked about the report, a Volkswagen spokesperson said the carmaker was "still evaluating suitable locations for our next cell factories in Eastern Europe and North America. The company said in October last year it planned to firmly settle on a location for a plant in eastern Europe in the first six months of 2023. Schmall said he participated in a discussion with EU officials via the European Battery Alliance last week on what conditions were needed in Europe for battery production. These included state aid in line with China and North America, a raw materials strategy and affordable renewable energy, he said.

☆ Ford deal shows U.S. EVs can’t unplug from China
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

It’s evident that President Joe Biden’s Inflation Reduction Act “did what it was intended to do”, according to one executive. Ford Motor (F.N) is licensing technology and services from China’s Contemporary Amperex Technology (300750.SZ), rather than buying batteries directly or forming a joint venture. This unusual setup allows the American auto veteran to use CATL’s lithium ferro-phosphate (LFP) chemistry whilst satisfying the IRA’s demands. As automakers start mass-producing electric vehicles, they will depend on Chinese suppliers, wherever they locate their factories. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Gotion and PTT Group plan battery venture in Thailand
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 15 (Reuters) - Volkswagen-backed Chinese battery maker Gotion High Tech (002074.SZ) will partner Thailand's PTT Group in the production and export of battery modules and packs in Thailand, the company said in a Shenzhen filing on Thursday. Gotion's Singapore unit will set up a joint venture with PTT for the projects with initial registered capital of 300 million Thai Baht ($8.60 million), the company said. ($1 = $1.0000)($1 = 34.9000 baht)Reporting by Zhang Yan, Ella Cao and Meg Shen Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Vingroup, Gotion start building $275 mln battery plant in Vietnam
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

HANOI, Nov 18 (Reuters) - VinES Energy Solutions, a unit of Vietnam's largest conglomerate Vingroup JSC (VIC.HM) and China's Gotion High-Tech (002074.SZ), have commenced construction of a $275 million battery factory in the Southeast Asian country, Vingroup said on Friday. The factory in the central province of Ha Tinh will annually produce 30 million lithium iron phosphate (LFP) battery cells, the company said in a statement. The cells will be used for electric vehicle batteries and energy storage systems, it said, adding that the factory is scheduled to start production in the third quarter of next year. The factory will help meet the battery needs of VinFast, an electric vehicle production arm of Vingroup, it said. Reporting Phuong Nguyen; Writing by Khanh Vu; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

More than a dozen Chinese companies have unveiled plans to follow suit, according to exchange filings. The China-Switzerland Connect allows Chinese companies to raise capital by issuing and listing GDRs on Swiss bourse SIX. Swiss firms can issue Chinese Depository Receipts on the Chinese exchanges. She said UBS is also discussing with Chinese firms about listing in Frankfurt once rules are in place, so "our GDR mandates will keep coming". Despite the brighter prospects, deal sizes have been comparatively small, with Gotion's $685 million Swiss listing the biggest so far under the Swiss connect scheme.

☆ China's Guoxuan High-tech unit eyes $3.6 bln Michigan plant, 2,000 jobs -Detroit News
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterSept 20 (Reuters) - Chinese battery maker Guoxuan High Tech Co's (002074.SZ) U.S. subsidiary is planning a development in Michigan that could draw up to $3.6 billion in investment and 2,000 new jobs, the Detroit News reported on Tuesday, citing sources. (t.ly/o9XS)Gotion Inc, a subsidiary of Guoxuan, would produce battery components at a yet-to-be constructed plant in Michigan, the report said, adding that it is expected to lead to about 500 jobs initially and potentially up to 2,000 jobs over the next 10 years. Guoxuan High Tech did not immediately respond to a Reuters request for comment. Register now for FREE unlimited access to Reuters.com RegisterReporting by Shubhendu Deshmukh and Akriti Sharma in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

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