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☆ Shares of Tesla suppliers in Asia take a beating after automaker misses targets
▼ + stars: | 2024-01-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A Tesla Inc. Model 3 long range electric vehicle charges at the Tesla Supercharger station in Kettleman City, California, U.S., on Wednesday, July 31, 2019. Shares of electric vehicle makers and Tesla 's Asia suppliers tumbled on Thursday after the EV maker missed fourth quarter revenue and profit targets on Thursday and warned of slower sales this year. South Korean display manufacturer LG Display, known to supply the car displays for Tesla's Model 3, fell more than 4%. Battery suppliers to Tesla also saw declines. LG Energy Solution fell 3.8%, while Samsung SDI and Panasonic Holdings both declined about 2%.

Persons: Tesla Organizations: Tesla Inc, Tesla, LG, Battery, LG Energy, Samsung SDI, Panasonic Holdings Locations: Kettleman City , California, U.S, Asia, Texas, South

☆ 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

☆ The global EV market is set to hit a milestone in 2024. These battery stocks will stand out, HSBC says
▼ + stars: | 2023-11-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Its global penetration rate could hit the "important 20% threshold" next year — "heralding entry to the mass market" for the first time, it said. "This has major implications for battery makers," the bank wrote in a Nov. 1 note. But, it said, "We think leading battery makers can handle this challenge and believe concerns about oversupply are overdone." The bank said it prefers pure battery market leaders, given their cost-competitiveness and strong customer base. "[It] should all help to lock in its cost leadership, a critical factor needed to survive the mass market.

Persons: BEV, CATL Organizations: HSBC, Battery, Stock, LG Energy, Korean, CATL, EV, Samsung SDI, SDI, BMW, Audi

☆ Toyota pledges $8 billion more for US battery plant to rev up EV push
▼ + stars: | 2023-10-31 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsOct 31 (Reuters) - Toyota Motor (7203.T) said on Tuesday it would boost investment by $8 billion and add about 3,000 jobs at its electric-vehicle battery manufacturing plant in North Carolina, accelerating the Japanese automaker's push to electrify its lineup. Toyota's North Carolina facility is set to begin operations in 2025 and will be the company's first automotive battery plant globally. It will have six battery production lines, four supporting hybrid vehicles such as the Prius, and two additional lines to support battery EVs. NORTH CAROLINA HUBNorth Carolina is emerging as a leading hub for electric vehicle and battery manufacturing, with new investments planned by companies ranging from Redwood Materials to Vietnam's Vinfast .

Persons: David, Dee, Delgado, Tesla, North Carolina Governor Roy Cooper, Nathan Gomes, Savio D'Souza, Devika Organizations: New York, REUTERS, Toyota, Ford, General Motors, United Auto Workers union, Tesla, Samsung SDI Co, Panasonic, Chrysler, Stellantis, Materials, North, North Carolina Governor, Thomson Locations: Manhattan , New York City, U.S, North Carolina, Detroit, NORTH CAROLINA, United States, Bengaluru

☆ 'An iPhone moment': Bernstein names global stocks to play the 'rapid growth' in battery tech
▼ + stars: | 2023-10-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

They said that over 200TWh of batteries will be required for the energy transition both in electric vehicles and energy storage. That breakthrough could arrive by 2027 with the commercialization of SSB batteries, Bernstein said. The firm added that they are set to have higher energy density, fast-charging capabilities and be "much safer" than liquid batteries. Batteries with higher energy density are required to reduce battery costs and increase the range of electric vehicles, Bernstein said. The asset management firm said established battery makers are likely to be the winners.

Persons: Bernstein, Neil Beveridge, CATL, — CNBC's Michael Bloom Organizations: South, LG Chem, Samsung SDI, CATL, Korean Locations: Korean

A general view of the Samsung SDI battery factory in God, Hungary, December 12, 2022. REUTERS/Marton Monus Acquire Licensing RightsSEOUL, Oct 23 (Reuters) - South Korea's Samsung SDI (006400.KS) said on Monday it will supply Hyundai Motor (005380.KS) with electric vehicle (EV) batteries for seven years starting 2026, marking the first battery supply deal between the two companies. "The latest supply deal marks the first ever partnership between Samsung and Hyundai Motor Group in the field of electric vehicle batteries," Samsung SDI said in a statement. The battery maker, which supplies to General Motors Co (GM.N), Stellantis (STLAM.MI), BMW (BMWG.DE) among others, added that it will supply prismatic batteries manufactured at its factory in Hungary for Hyundai Motor's EVs targeting the European market from 2026 through 2032. Samsung SDI did not disclose the size of the deal.

Persons: Marton Monus, Heekyong Yang, hyang Choi, Diane Craft, Jacqueline Wong Organizations: Samsung SDI, REUTERS, Rights, Korea's Samsung SDI, Hyundai, Samsung, Hyundai Motor Group, General Motors Co, BMW, Hyundai Motor's, Thomson Locations: God, Hungary, Rights SEOUL, KS

"The UAW is holding the deal hostage over battery plants," said Ford Chief Executive Jim Farley on Sept. 29. Since then, the union has not announced an agreement on battery plant issues with GM or the other automakers. Stellantis and Samsung SDI (006400.KS) have announced plans to build two EV battery plants in Kokomo, Indiana, employing up to 2,800 workers in total. Ford officials have not disclosed details of their proposals for battery plant wages or unionization. Yet, we are very open to working with them on a way forward on the battery plants," Ford executive Kumar Galhotra said on Oct. 12 of talks with the UAW.

Persons: Shawn Fain, bargainers, Jim Farley, Fain, Ultium, Joe Biden's, CATL, Tesla, Stellantis, haven't, Kumar Galhotra, Joe White, Nick Zieminski Organizations: DETROIT, United Auto Workers, Detroit Three, General Motors, Ford, Chrysler, UAW, Detroit, GM, Ultium, Tesla, Samsung SDI, Thomson Locations: Northeast Ohio, Detroit, U.S, Michigan, Belvidere , Illinois, KS, Kokomo , Indiana

☆ CNBC Pro Talks: Munro Partners' Nick Griffin to discuss AI, Big Tech and stocks to short
▼ + stars: | 2023-10-17 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

Join CNBC's Will Koulouris as he quizzes Nick Griffin, chief investment officer of Munro Partners, on the AI theme, Big Tech, and how to play stocks such as Nvidia and Microsoft . Munro Partners, with $4.3 billion Australian dollars under management, is focused on global growth stocks. The Munro Global Growth Fund's top five holdings are Alphabet , Amazon , Nvidia , Visa and Microsoft . The firm has another growth-focused fund, the Munro Concentrated Global Growth Fund, with a return of 12% per annum since its inception in 2019. He has been with Munro Partners since 2016 and before that was head of international equities at K2 Asset Management and was also at Deutsche Bank.

Persons: Koulouris, Nick Griffin, Munro, Griffin, Eli Lilly Organizations: Munro Partners, Big Tech, Nvidia, Microsoft, Global, Novo Nordisk, Visa, Samsung SDI, Asset Management, Deutsche Bank Locations: U.S

Stellantis and SDI said their second joint battery factory in Indiana is scheduled to open in 2027, and could employ 1,400 workers. The two companies would have a combined annual production capacity of 67 gigawatt hours (GWh) at the Indiana production site, Samsung SDI said in a statement. The first joint plant is set to start production in the first quarter of 2025. For Stellantis, a second U.S. battery plant would help the company comply with U.S. Inflation Reduction Act domestic content rules that govern federal EV subsidies. Last month, Samsung SDI said it plans to invest 2.7 trillion won ($2.01 billion) to build its second joint battery plant with Stellantis.

Persons: Shawn Fain, Fain, Stellantis, Ram, Alfa Romeo, 1,340.6500, Heekyong Yang, Sharon Singleton Organizations: South Korea's Samsung SDI Co, United Auto Workers, Detroit Three, SDI, Samsung SDI, Chrysler, Jeep, UAW, General Motors, Ford, EV, GM, U.S, Peugeot, Citroen, Opel, Thomson Locations: SEOUL, South, KS, Kokomo , IN, Indiana, Toledo , Ohio, United States, Kokomo, Lordstown , Ohio, U.S, Europe

☆ Stellantis, Samsung SDI to build $3.2 billion EV battery plant in Indiana
▼ + stars: | 2023-10-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Samsung SDI and automaker Stellantis plan to invest more than $3.2 billion in a new electric vehicle battery plant in Kokomo, Indiana. The facility — Stellantis' sixth battery plant announced globally — was largely expected, but the location and timing are notable. Battery plants have become a main issue in the labor talks, as the UAW views EV battery jobs as crucial to its long-term viability. General Motors last week agreed to include workers at its EV battery plant in the company's national contract with the union, which Fain called a "transformative win." Fain said the union expects Stellantis and Ford Motor to follow suit, including battery plant workers in eventual contract agreements.

Persons: Stellantis, Shawn Fain, Fain Organizations: Dodge, DETROIT — Samsung SDI, United Auto Workers union, UAW, Battery, EV, General Motors, Ford, GM Locations: Pontiac , Michigan, Kokomo , Indiana, Stellantis, Kokomo

"Our strike is working, but we’re not there yet," UAW President Shawn Fain said in a livestreamed update on negotiations with the three automakers. Threatening to strike against GM's Arlington, Texas, plant that makes cash-cow SUVs like the Cadillac Escalade spurred GM to agree that EV battery factories would become union plants with UAW contracts, Fain said. GM is building three Ultium joint-venture battery plants with South Korea's LG Energy Solution (373220.KS). GM is building a fourth U.S. battery plant with Samsung SDI (006400.KS) in Indiana. Fain also said on Friday that the UAW could still strike against highly profitable pickup truck plants if progress stalls.

Persons: Rebecca Cook, General Motors, we’re, Shawn Fain, GM's, Fain, Sam Fiorani, Ultium, Harley Shaiken, Jim Farley, Ford, Stellantis, Mark Stewart, Tesla, Elon, we've, walkouts, Joe White, David Shepardson, Abhirup Roy, Dan Burns, Ben Klayman, Abhijith, David Gaffen, Peter Henderson, Nick Zieminski, Matthew Lewis Organizations: United Auto Workers, General Motors Lansing Delta, Michigan U.S, REUTERS, Detroit Three, UAW GM, UAW, GM, Ford, Detroit, General, Ford Motor, Chrysler, EV, AutoForecast Solutions, Korea's LG Energy, Democratic U.S, Samsung SDI, University of California, LG, Samsung, American, Reuters Graphics Reuters, Thomson Locations: Delta Township, Michigan, DETROIT, GM's Arlington , Texas, U.S, Ohio, Indiana, Berkeley, Milan, Detroit, Washington

This is the first week since targeted strikes by the UAW started on Sept. 15 that the union will not expand the work stoppages at GM, Ford Motor or Chrysler-parent Stellantis . GM, with its battery plant in Ohio, is the only Detroit automaker with a joint venture battery plant in operation and unionized in the U.S. watch nowElectric vehicle battery plants have been a major point of contention in this year's talks between the union and the three Detroit automakers. Officially, because they're owned by joint ventures, the battery plants aren't covered by the automakers' agreements with the union. Ford CEO Jim Farley said last week that the UAW is "holding the deal hostage over battery plants."

Persons: Shawn Fain, Fain, We've, Jim Farley, Ford, Mark Stewart, who's, Stewart, Rebecca Cook Organizations: GM, Detroit automakers, DETROIT, United Auto Workers, Detroit, General Motors, UAW, Ford Motor, Chrysler, Arlington Assembly, U.S, LG Energy, Samsung SDI, Ford, North, General Motors Lansing Delta Plant Locations: Arlington, Ohio, United States, U.S, North America, Delta Township , Michigan

☆ Samsung SDI to invest $2 bln to build second joint battery plant in US with Stellantis
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Sept 27 (Reuters) - South Korea's Samsung SDI Co Ltd (006400.KS) said on Wednesday it plans to invest 2.7 trillion won ($2.00 billion) to build a second joint electric vehicle (EV) battery plant with Stellantis NV (STLAM.MI) in the United States. The South Korean battery maker said in a regulatory filing that it plans to execute the investment starting next April to November 2027. In July, the two companies said their joint-venture plant in the United States will have an annual production capacity of 34 gigawatt hours (GWh), with a target to start production in 2027. ($1 = 1,351.3700 won)Reporting by Heekyong Yang; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: 1,351.3700, Heekyong Yang, Kim Coghill Organizations: Korea's Samsung SDI Co, Stellantis NV, South Korean, Thomson Locations: SEOUL, KS, United States

SEOUL/SHANGHAI, July 31 (Reuters) - Chinese battery materials firms are ramping up investment in South Korea, announcing projects worth at least $4.4 billion this year to try to meet U.S. electric vehicle (EV) tax credit rules aimed at lowering reliance on China's supply chains. The IRA, designed to wean the U.S. off the Chinese supply chain for electric vehicles (EVs), will also eventually bar tax credits if any EV battery components were manufactured by a "foreign entity of concern", a provision aimed at China. South Korea has a free-trade agreement with the United States that would likely make batteries manufactured in the North Asian nation and later installed in U.S.-manufactured electric cars eligible for the federal tax credits. SK On and its supplier EcoPro Co (086520.KQ) also announced a joint venture with China's Green Eco Manufacture to make battery precursors in South Korea. POSCO Holdings (005490.KS) said last month it would cooperate with China's CNGR Advanced Material (300919.SZ) on nickel refining and precursor production in South Korea.

Persons: Kang Dong, hasn't, China's, 1,274.0000, Heekyong Yang, Zoey Zhang, Miyoung Kim, Tom Hogue Organizations: SK, U.S, Hyundai Motor Securities, China JV, U.S . Treasury Department, South, New Energy Technology, Reuters, Zhejiang, LG Chem, LG Energy, EcoPro, China's, POSCO Holdings, LG, Samsung SDI, EV, Thomson Locations: SEOUL, SHANGHAI, South Korea, United States, China, U.S, Korea, Ningbo, Seoul, South Korean, Korean, KS, Shanghai

☆ Japan's W-Scope signs 5-yr supply deal with Samsung SDI, shares surge
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

TOKYO, July 31 (Reuters) - Japan's W-Scope (6619.T) said on Monday it had signed a five-year deal with battery maker Samsung SDI (006400.KS) to supply separators used in lithium-ion batteries, mainly to power electric vehicles (EVs). The company's shares ended up 8.8% in Tokyo. Subsidiary W-Scope Chungju Plant (393890.KQ) will supply about 4 billion square metres of separators to Samsung SDI in South Korea, the United States, and other areas, the company said in a statement. The deal, which runs from 2023 to 2027, has already been factored into the company's earnings for this year, W-Scope added. Reporting by Chang-Ran Kim; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Chang, Ran Kim, Eileen Soreng Organizations: Samsung SDI, Thomson Locations: TOKYO, Tokyo, South Korea, United States

☆ These 11 funds have performed as well as tech stocks over the past 5 years
▼ + stars: | 2023-07-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Look beyond tech But there are opportunities beyond tech: Morningstar data reveals the funds outside of tech and growth sectors that have also outperformed over the last five years. Top holdings include Home Depot, Johnson Controls International, Floor & Décor and Trane Technologies. Guinness Atkinson Alternative Energy Fund : This fund picks companies in the alternative energy sector, with at least half of the business dedicated to renewable energy or energy efficiency. Global X Lithium and Battery Tech ETF : The ETF comprises lithium producers and lithium battery makers — all essential to electric vehicles. Top holdings include United Airlines, Marathon Oil, Tyson Foods, Best Buy, and Synchrony Financial.

Persons: James Demmert, Hubbell, MasTec, Invesco Russell, Russell, Vanguard Baillie Gifford Organizations: Street Research, U.S . Federal, Morningstar, Enphase Energy, Fidelity, Housing, Home, Johnson, Trane Technologies, Guinness Atkinson Alternative Energy Fund, Schneider, NextEra Energy, Shelton Sustainable Equity Fund, Bunge, Battery Tech ETF, Samsung SDI, Trust, Industrial Renaissance, SPX Technologies, Sterling Infrastructure, Global, U.S . Infrastructure Development, Holdings, Rockwell Automation, United Rentals, Deere, Co, United Airlines, Marathon Oil, Tyson Foods, Synchrony, Heptagon, Equity Fund, Xenon Pharmaceuticals, TransMedics, FTAI Aviation, Vanguard, Moderna, Alnylam Pharmaceuticals, Coursera, Water Resources, Nasdaq, Water Locations: Luxembourg, Eaton, Albemarle

☆ Stellantis, Samsung SDI set plan to build second US battery plant
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +3 min

Stellantis said the second U.S. battery plant will be the sixth to support the company's goals. "The second plant will accelerate our market penetration into the U.S.," Samsung SDI CEO Yoon-ho Choi said in the statement. In May 2022, Stellantis and Samsung SDI said they would invest more than $2.5 billion to build their first joint battery plant, to open in the first quarter of 2025 in Kokomo, Indiana. Stellantis is also building a joint-venture battery plant in Windsor, Ontario, in Canada with South Korea's LG Energy Solution (373220.KS). Samsung SDI shares extended gains after Monday's announcement, rising to as much as 4.1% versus a 0.8% increase in the benchmark KOSPI (.KS11).

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo, Yoon, Choi, Ben Klayman, Heekyong Yang, Christopher Cushing Organizations: Samsung SDI, North, Peugeot, Jeep, Citroen, Opel, Samsung, South Korea's LG Energy, General Motors, United Auto Workers union, Stellantis, GM, Ford, Thomson Locations: Korean, U.S, Europe, Kokomo , Indiana, Indiana, Windsor , Ontario, Canada, Detroit, Seoul

☆ Stellantis and Samsung SDI set plan to build second U.S. battery plant
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: +1 min

French-Italian automaker Stellantis and South Korean battery maker Samsung SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027. The companies said the transaction still needs to be finalized, and where the plant will be located is under review. Also, how much will be invested at the site and how many people it will employ will be announced later. In 2021, Stellantis said it planned to pump $35 billion into EV production and software globally through 2025. Stellantis said the second U.S. battery plant will be the sixth to support the company's goals.

Persons: Carlos Tavares, Stellantis, Ram, Alfa Romeo Organizations: FCA, Technology Center, Stellantis, Samsung SDI, North, Peugeot, Jeep, Citroen, Opel Locations: Stellantis, Auburn Hills , Michigan, Korean, U.S, Europe

☆ New EV battery plant fuels labor tensions as UAW strike looms deadline
▼ + stars: | 2023-07-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Stellantis and Samsung SDI announced plans Monday for another EV battery plant joint venture to open in 2027. Four major EV battery plants have opened in recent years and 19 more are planned with Monday’s announcement, according to the UAW. An aerial view of the Stellantis and Samsung Battery Plant construction site in Kokomo, Indiana. Those talks will have to be focused on the wages and benefits for the current UAW members. By comparison, UAW members with top seniority at a Big Three factory get $32.32 an hour, plus an annual bonus and profit sharing.

Persons: New York CNN — Stellantis, Shawn Fain, Stellantis, BEV, Kent Nishimura, ”, it’s, Fain, He’s, “, ” Stellantis Organizations: New, New York CNN, Samsung SDI, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, General Motors, Ford, UAW, don’t, GM, Fiat Chrysler, PSA Group, Peugeot, Opel, Vauxhall, Samsung Battery, Los Angeles Times, Samsung, Big, LG, SK, CNN, ICE Locations: New York, United States, Europe, Kokomo , Indiana, Warren Ohio, Korean, Kokomo

☆ 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

☆ Goldman Sachs names the winners and losers of an expected glut in EV battery parts
▼ + stars: | 2023-06-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs expects an oversupply in the global market of battery parts for electric vehicles to have major implications for four major companies. Potential losers The bank's analysts expect POSCO Future M and EcoPro BM, two major Korean cathode producers, to be negatively impacted by this surplus. We thus initiate at Sell on Posco Future M and Ecopro BM," said Goldman Sachs analysts led by Nihil Bhandari in a note on June 12. And winners While Korean cathode manufacturers are expected to face potential margin compression, Korean battery cell makers LG Chem and Samsung SDI are deemed to be in a more favorable position. According to Goldman Sachs, the entry barrier for assembling battery cells is higher than for producing cathodes, making it a less crowded market.

Persons: Goldman Sachs, Nihil Bhandari, Goldman Organizations: Trust Asia, Japan ETF, South Korean, LG Chem, Samsung SDI, Investors, SmartETFs Sustainable Energy, Franklin FTSE Locations: Japan, POSCO, Korean, Franklin FTSE South Korea, South Korea

☆ GM, SDI will build $3 billion battery manufacturing plant in Indiana
▼ + stars: | 2023-06-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

June 13 (Reuters) - General Motors (GM.N) and Samsung SDI (006400.KS) will build a more than $3 billion EV battery cell plant in Indiana scheduled to begin operations in 2026, creating 1,700 jobs, the state's governor said Tuesday. The companies said in April they would invest more than $3 billion to build a joint venture EV battery manufacturing plant in the U.S. but did not name a location. Reuters reported in January that GM had opted not to move forward with building a fourth U.S. battery plant with LG Energy Solution (373220.KS) in Indiana, but said GM could still pick Indiana for a battery plant with another partner. The joint GM and Samsung SDI plant near New Carlisle, Indiana aims to have an annual production capacity of 30 gigawatt hours (GWh). The companies are building a $2.6 billion plant in Michigan, set to open in 2024 after opening a plant in Ohio and are building another in Tennessee.

Persons: Yoonho Choi, Shawn Fain, Bernie Sanders, Joe Biden, Biden, David Shepardson, Louise Heavens, David Evans Organizations: General Motors, Samsung SDI, EV, Reuters, GM, LG Energy, Samsung, U.S . Energy Department, LG Energy Ultium Cells, United Auto Workers, GM LG Ohio JV, UAW, Thomson Locations: KS, Indiana, U.S, New Carlisle , Indiana, Michigan, Ohio, Tennessee, North America, South Korea

But rival European battery groups are still scarce, and global carmakers have more to gain than lose. Chinese battery suppliers like Contemporary Amperex Technology (CATL), SVOLT, Envision, and most recently EVE Energy (300014.SZ), are shaking up Europe’s e-mobility supply chains. At 4.5 billion euros, investments in projects to build new plants in Europe overtook spending on mergers and acquisitions. European battery makers will struggle to compete. Given the chance, Chinese battery makers can power up Europe’s own supply chains, and its auto companies too.

Persons: CATL, It’s, Bernstein, Emmanuel Macron, Tesla, Elon, Lisa Jucca, Thomas Shum Organizations: Reuters, Volkswagen, BMW, Volvo, Technology, EVE Energy, Shanghai Putailai, Energy Technology, Mineral Intelligence, Companies, Wall Street, LG, Samsung SDI, Union, Commission, EU, United, Mercedes, Benz, Elon Musk’s, Mercator Institute for China Studies, Thomson Locations: HONG KONG, China, People’s Republic, Europe, Shanghai, People’s, Sweden, United States, EU, Hungary, Spain

☆ Outperforming fund manager shares tips on investing sustainably — and generating big returns
▼ + stars: | 2023-05-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Philip Ripman manages the $1 billion Storebrand Global Solutions fund, with a focus on sustainability. As well as green energy stocks, Ripman also invests in chipmakers, cybersecurity stocks, pharmaceuticals and more. Ripman shared three tips for investing sustainably on CNBC Pro Talks , including how to play the renewables theme. Renewables are 'cheaper' right now Ripman said that renewable energy stocks look relatively cheap and offer "a lot of opportunity" right now. Consider what's needed in the future The four themes in Ripman's fund — smart cities, circular economy, equal opportunities, and renewable energy — are what he believes will be "essential in years to come."

☆ Analysis: GM's 2025 EV output could be crimped by battery bottleneck
▼ + stars: | 2023-05-18 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

"We have not changed our targets," GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year. "We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said. GM has not issued specific North American EV production targets for 2024 and 2025. GM’s North American EV production targets beyond 2025 “will continue to push the limits” of its battery plants, according to AFS, including a recently announced fourth factory with new partner Samsung SDI (006400.KS) that isn’t expected to open until 2026.

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