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☆ Analysis: CATL's 'price war' shows its power, and China's EV edge
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +6 min

"It's very much a market share game," said Caspar Rawles, chief data officer at Benchmark Mineral Intelligence. Contemporary Amperex Technology Co Ltd - more widely known by its initials - is the dominant global supplier with a 37% share of the EV market. For CATL, the discount is a way to head off a bid by Chinese EV makers to seek alternatives. CATL batteries power Volkswagen's (VOWG_p.DE) I.D. "The reductions that CATL is offering would help the Chinese EV industry," said James Frith, a principal at battery-tech focused venture capital group Volta Energy Technologies.

☆ China to scrutinize Ford's EV battery deal with CATL - Bloomberg News
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - China will scrutinize Ford Motor Co's (F.N) latest deal with battery giant CATL (300750.SZ) to ensure the Chinese company's core technology is not shared with the U.S. automaker, Bloomberg News reported on Thursday. Ford did not immediately respond to a Reuters request for a comment, while CATL could not be reached outside market hours. Senior Chinese leaders asked for the extra scrutiny given the sensitivity of the deal and the current state of tensions between Washington and Beijing, the report said. Ford on Monday announced plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan, with help from CATL's technology. Under the deal, CATL - short for Contemporary Amperex Technology Co Ltd - will license the technology and technical assistance needed for Ford to produce lithium iron phosphate batteries in Michigan.

☆ Ford's latest EV blunder increases the odds we'll drop the stock, if there's no progress this quarter
▼ + stars: | 2023-02-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Ford Motor (F)'s decision to halt production and shipments of its electric pickup truck further undermines our confidence in the automaker. CEO Jim Farley said the weak earnings were a function of the automaker's transition to a new business structure that limited production capacity, combined with poor execution. "It's inexcusable that Ford had a bad quarter," Jim said at the time. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Ford Invests $3.5 Billion in Michigan Battery Plant With Chinese Partner’s Technology
▼ + stars: | 2023-02-13 | by ( Ryan Felton | Nora Eckert | ) www.wsj.com time to read: 1 min

Ford Motor Co. is investing $3.5 billion to build a battery plant in Michigan with help from China’s Contemporary Amperex Technology Co. Ltd., a win for the auto maker’s home state, which has seen many recent automotive projects head elsewhere. The facility, which will be built in Marshall, Mich., about 100 miles west of Detroit, is expected to create about 2,500 jobs, Ford said Monday. The auto maker said a wholly-owned subsidiary would manufacture the battery cells using technology and expertise provided by CATL, the world’s largest maker of batteries for electric vehicles.

☆ Ford to invest $3.5 billion to build Michigan battery plant
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

Feb 13 (Reuters) - Ford Motor Co (F.N) will build a new lithium iron phosphate battery plant in Michigan as part of a $3.5 billion investment plan, the automaker and state said Monday. The plant will be located in Marshall, Michigan and eventually employ at least 2,500 workers. Reuters reported Friday Ford is expected to own and operate the plant with Chinese battery company China's Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) as a technology partner to help develop the batteries, sources said. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Ford to move forward with $3.5 billion EV battery plant with Chinese company
▼ + stars: | 2023-02-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

DETROIT – Ford Motor said Monday it will collaborate with a Chinese supplier on a new $3.5 billion battery plant for electric vehicles in Michigan, despite tensions between the U.S. and China. Glenn Youngkin saying he was withdrawing the state from a competitive process to attract the planned Ford plant over its connection to the Chinese company. The new batteries are expected to offer different benefits at a lower cost, assisting Ford in increasing EV production and profit margins. With this $3.5 billion investment, Ford says it and its battery partners have announced $17.6 billion in investments in electric vehicle and battery production in the United States since 2019. Gretchen Whitmer called the investment a "big win" for the state, which has moved to attract more battery production after missing out on previous multibillion investments.

☆ Ford to announce $3.5 bln battery plant in Michigan, sources say
▼ + stars: | 2023-02-10 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Feb 10 (Reuters) - Ford Motor Co (F.N) is set to announce as soon as Monday it plans to build a new $3.5 billion lithium iron phosphate battery plant in Michigan, sources told Reuters. Ford is expected to own and operate the plant with Chinese battery company China's Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) as a technology partner to help develop the batteries, sources said. The rules were aimed at weaning the United States off the Chinese battery supply chain. Virginia Governor Glenn Youngkin has faced some criticism for withdrawing from a competition to attract a new Ford battery plant over its connection to CATL. Reuters reported in January that Michigan was also a candidate for the Ford battery plant, sources said, and a decision could be made in the coming weeks.

☆ Amazon's AWS to invest $35 bln in Virginia
▼ + stars: | 2023-01-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 20 (Reuters) - Amazon.com Inc's (AMZN.O) cloud services division said Friday it plans to invest another $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia. In 2021, AWS said from 2011 to 2020 it had invested $35 billion in data centers located in northern Virginia and had 3,500 full time employees at its data centers in the state. AWS also will be eligible to receive a state grant of up to $140 million "for site and infrastructure improvements, workforce development, and other project-related costs."

☆ Ford, China's CATL considering building U.S. battery plant -Bloomberg
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - Ford Motor Co (F.N) and China's Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) are considering building a battery plant in Michigan or Virginia to reap tax benefits without treading on Sino-U.S. political sensitivities, Bloomberg reported on Wednesday. The multibillion-dollar facility will make lithium iron phosphate batteries for Ford's electric models, Bloomberg reported, citing people familiar with the matter. That would let the facility qualify for production tax credits under the U.S. Inflation Reduction Act without needing direct financial investment from CATL, Bloomberg reported. In October, Reuters reported CATL had slowed plans to invest in battery plants in North America over concerns that new U.S. rules on sourcing required materials would drive up costs. Ford and CATL did not immediately respond to Reuters' request for comment.

The flurry of deals comes even as warnings emerge that lithium prices, driven to records by rapid growth in electric vehicles, may peak next year because of a looming supply glut. It also bought majority stakes in the Lakkor Tso Lithium Salar mine in China's Tibet region and the Xiangyuan lithium mine in Hunan province. Zijin has a market capitalisation of about $35 billion and net profit of 15.7 billion yuan ($2.2 billion) last year. Some firms are also working to develop alternative battery materials, which could reduce lithium demand in the long term. Zijin told investors recently it made its mine acquisitions based on lithium carbonate prices of 100,000 yuan a tonne.

Musk had made the remark in a video call with President Yoon Suk-yeol, adding that the company planned to step up cooperation with South Korea on supply chains, Yoon's office said. As Yoon was aware of Tesla's plans to build a factory in Asia in the future, his office said, Yoon asked Musk to build the factory in South Korea. In response, Musk said he considered South Korea to be one of the top candidates and would make the decision after reviewing investment conditions in other countries, including labour quality, technology level and production infrastructure. "We expect to buy components worth more than $10 billion from South Korean firms in 2023 as we significantly expand supply chain cooperation with South Korean companies," Yoon's office quoted Musk as saying. Yoon said in the discussion he would reform unreasonable regulations that hindered investment by global tech companies, according to Yoon's office.

☆ China's CATL, a Tesla supplier, considers expanding battery swapping business overseas
▼ + stars: | 2022-09-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

CATL is the world's largest electric vehicle battery maker and supplier to the likes of Tesla and Ford. The world's largest electric vehicle battery maker CATL is evaluating whether to expand its battery swapping business to international markets, a senior executive told CNBC. In January, the Chinese battery manufacturer launched its battery swapping business called EVOGO in China across 10 cities. Instead, drivers can rent battery packs from CATL and put them into the car when their other battery runs out. Li Xiaoning, executive president of overseas commercial application at CATL, told CNBC in an interview on Thursday, that the company is also evaluating expansion of its battery swapping product into Europe.

The deal includes a commitment from PPES that ioneer's lithium will be used to build EV battery parts inside the United States for the U.S. EV market. "The whole purpose of this agreement is for this lithium to be used in the United States," James Calaway, ioneer's executive chairman, told Reuters. The amount of lithium that ioneer will supply PPES is enough to make batteries for about 150,000 EVs annually, though that figure would vary depending on design and other factors. Australia-based ioneer aims to produce about 21,000 tonnes of lithium in Nevada annually starting in 2025. It signed a supply deal with Ford Motor Co (F.N) in mid-July and last year with South Korea's Ecopro Co (086520.KQ).

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