DIRS.INFO The most relevant business & tech news

☆ Pro Take: Can Nickel, Cobalt and Other Battery Metals Be Sourced Sustainably?
▼ + stars: | 2023-05-11 | by ( Yusuf Khan | ) www.wsj.com time to read: +6 min

Lockheed Martin and Norway’s Storebrand also have recently sold their interests in deep-sea mining companies. Others including German luxury carmaker BMW have said that, given environmental concerns, they won’t use battery metals sourced from the deep sea. More than a dozen countries are concerned about the environmental impact of the practice and are calling for a moratorium on seabed mining. A nickel mining site on the island of Sulawesi, Indonesia. Proponents of deep-sea mining say the nascent practice is a less harmful way to extract nickel than how the mineral is currently sourced in Indonesia.

☆ 'Too cheap to ignore': Bernstein predicts huge upside for these 3 clean energy stocks
▼ + stars: | 2023-05-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

But the sour sentiment toward the sector may be short-lived, according to the investment bank. Analysts at Bernstein say there is significant potential for growth in several clean energy companies, thanks to recent policy changes and increased investment. The investment bank added that despite the rising costs of renewable equipment and increasing rates, renewables remain more competitive than fossil fuels. Orsted Bernstein expects shares of Orsted to rise by nearly 60% to 975 Danish Krone ($144) a share. CATL Bernstein said battery-maker Contemporary Amperex Technology Co. Limited, also known as CATL, was its "top pick" in China.

☆ Here's why sodium-ion batteries are shaping up to be a big technology breakthrough
▼ + stars: | 2023-05-10 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

Sodium-ion batteries have been around for decades, but large-scale development of the technology was abandoned in favor of lithium-ion batteries. Sodium-ion batteries can't provide the type of range for electric vehicles offered by lithium-ion batteries, but they do present some unique advantages. For instance, the materials used in sodium-ion batteries tend to be cheaper than those in lithium-ion batteries. "There's no cobalt, there's no copper, there's no lithium, there's no graphite, which is really primarily controlled by China today." Natron Energy, based in Silicon Valley, is also working to commercialize sodium-ion battery technology.

☆ Chinese investment in Europe shifts to greenfield battery projects - report
▼ + stars: | 2023-05-08 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

BERLIN, May 9 (Reuters) - Chinese investment in Europe is shifting from mergers and acquisitions to greenfield projects mainly in battery production for electric vehicles, according to 2022 data analysed by independent research providers MERICS and Rhodium Group. Greenfield investment made up 57% of total foreign direct investment by China in Europe in 2022, overtaking mergers and acquisitions for the first time since 2008, according to the report released on Tuesday. "We are witnessing a major shift in how Chinese companies invest in Europe... Chinese firms have become major players in Europe's green transition," Agatha Kratz, director of the Rhodium Group, said in a statement. Setting up operations from scratch in Europe allows Chinese players to avoid tariffs and transport costs and shield themselves from political tension that could impede exports and imports, the report said. While screenings of Chinese investments in Europe have increased, the region still remains more open politically to China than the United States which has cracked down on Chinese battery imports via the Inflation Reduction Act, it added.

☆ US Senator Rubio seeks probe of Ford's Chinese partnership on nickel plant
▼ + stars: | 2023-05-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Senator Marcio Rubio on Wednesday asked the Biden administration to investigate Ford Motor Co's (F.N) plan to partner with PT Vale Indonesia (INCO.JK) and China's Zhejiang Huayou Cobalt in a $4.5 billion nickel processing plant in Indonesia. Indonesia, which has the world's biggest nickel reserves, has been trying to develop downstream industries for the metal, ultimately aiming to produce batteries and electric vehicles. Vale and Huayou began construction of the plant in November and commercial operation is expected to start in 2026. He had already asked the Biden administration to review the deal to use technology from CATL. Rubio wants to block tax credits for electric vehicle batteries produced using Chinese technology, in a bid to prevent Chinese companies from benefiting.

☆ Thailand in talks with CATL, others on potential battery plants, govt official says
▼ + stars: | 2023-05-03 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +3 min

"We are talking to many companies, not only CATL but many companies in the battery industry," said Narit Therdsteerasukdi, Secretary General of Thailand Board of Investment (BOI). CATL, the world's dominant battery supplier with a 37% market share, currently has no production facilities in Southeast Asia, its website shows. In the past few years, Thailand has drawn investments from EV companies, mainly Chinese, including Great Wall Motors and BYD Co (002594.SZ). Narit said the government's goal was to direct support and subsidies to land larger battery production facilities. CATL currently has 13 battery production hubs, 11 in China, one in Hungary and one in Germany.

☆ Chile's lithium push emerges as test for Latin American resource nationalism
▼ + stars: | 2023-04-27 | by ( David Alire Garcia | ) www.reuters.com time to read: +6 min

[1/2] Laborers work at a lithium plant on the Atacama salt flat in the Atacama desert of northern Chile January 8, 2013. While the former student protest leader's proposal to give the government a majority stake in all future lithium projects faces an uncertain path in Congress, its mere introduction shook one of the mining industry's most lucrative corners. Lithium is in high demand for rechargeable batteries for future fleets of electric vehicles in the global transition to green energy. That leaves the exception to the trend, Argentina, as an increasingly likely Latin American destination for new private capital for lithium. A strong pipeline of lithium projects in Argentina, the world's No.

[1/2] Electric power transmission pylon miniatures and LG Energy Solution logo are seen in this illustration taken, December 9, 2022. LG Energy Solution (LGES) reported an operating profit of 633 billion won ($472.6 million) for the January-March period, up 145% from 259 billion won a year earlier. When asked about rival Chinese battery makers' efforts to enter the U.S. market, LGES Chief Financial Officer Lee Chang-sil said the company would maintain its competitive position in the U.S. LG Energy Solution's revenue for the quarter doubled to 8.7 trillion won, LG Energy said in a regulatory filing. Shares of LG Energy Solution (LGES), carved out of LG Chem Ltd (051910.KS) last year, rose as much as 2.4% in morning trade, outpacing a flat broader KOSPI market (.KS11).

☆ The IRA isn’t good for just U.S. stocks. Here are some emerging markets names that will benefit too
▼ + stars: | 2023-04-23 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

The Inflation Reduction Act does more than buoy U.S. clean energy stocks – it's also an opportunity for emerging markets firms. But the IRA also represents an opportunity for emerging markets firms. "This is a win, win, win," said Paul Desoisa, co-portfolio manager of the Global Emerging Markets strategy at Martin Currie, a specialist investment manager at Franklin Templeton. Here are some places where emerging markets firms stand to benefit. Some possible contenders include Korea's Hanwha Solutions, a multinational with a solar energy business Hanwha Qcells, abrdn's Khwaja said.

SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. SQM has a larger footprint in Chile, with 81,000 hectares (about 200,000 acres) for lithium extraction compared with Albemarle's 16,000 hectares. Argentine state energy firm YPF last year began exploring lithium, while Bolivia has long maintained strict control over its huge though largely untapped resources. Mexico's President Andres Manuel Lopez Obrador and Bolivia's Luis Arce have touted the idea of a regional lithium "OPEC" to coordinate on lithium policy and benefit local economies.

The move would see Chile, the world's second largest lithium producer, shift to a model with the state holding a controlling interest in all new lithium projects through a public company that would partner with private mining firms. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. In early trading on Friday, Chilean firm SQM's U.S.-listed shares slid 6.2%, while Albemarle was down 2.5%. SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mining shares in London fell sharply too.

☆ Factbox: Lithium key element for electric vehicle ramp up
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +3 min

April 21 (Reuters) - Chile, the world's second largest lithium producer, said it plans to transfer control of the production of the mineral essential for electric vehicle (EV) batteries to a new state-owned company. Australia is the world's largest lithium producer, but Chile has by far the largest known reserves. Battery grade lithium prices touched record levels of $85,000 a tonne in December, but have slumped by nearly 50% since then. EV battery makers have developed multiple types of lithium battery products. Lithium demand is expected to balloon to 3 million tonnes a year by 2030 from only 300,000 tonnes in 2020, according to Bank of America analysts.

☆ South Korea announces $15 bln investment in advanced battery technologies
▼ + stars: | 2023-04-20 | by ( Heekyong Yang | ) www.reuters.com time to read: +3 min

[1/2] An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. "The joint investment will allow South Korea to start commercial production of solid state batteries ahead of others," the ministry said in a statement. South Korea is home to three of the world's five biggest electric vehicle (EV) battery makers --LG Energy Solution Ltd (LGES) (373220.KS), Samsung SDI Co Ltd (006400.KS) and SK On. EV battery makers are racing to develop new battery technologies that promise longer driving range, higher energy density and better safety than the conventional lithium-ion batteries. The industry ministry said South Korea aimed to quadruple domestic production capacity of cathode materials and triple exports of battery production-related equipment with the investment.

☆ What If Your Tesla Could Run on Sodium?
▼ + stars: | 2023-04-19 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Illustration: George DownsIf sodium is the new lithium, investors may need to rethink a favorite energy-transition trade. One of the most potentially disruptive snippets of news to come out of the Shanghai auto show this week wasn’t from Tesla or one of its flashy Chinese competitors but from a company that doesn’t make vehicles at all: CATL. The world’s largest battery producer said its first sodium-ion battery would power electric vehicles built by Chinese brand Chery, though it didn’t say when.

☆ China's CATL unveils condensed matter battery to power civil aircraft
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, April 19 (Reuters) - Chinese battery giant CATL (300750.SZ) on Wednesday unveiled a condensed matter battery that it said could supply enough energy to power electric passenger aircraft for civil aviation use. CATL will also be able to start mass production of the condensed matter battery for electric vehicle uses later this year, Wu added. Condensed matter technology is being embraced by battery makers competing to develop new materials to improve energy density of the current generation of lithium-ion batteries, which is under 300 Wh/kg. Chinese electric vehicle (EV) maker Nio (9866.HK) is planning to power its ET7 cars with a semi-solid state battery with 360 Wh/kg energy density developed by Beijing Welion New Energy Technology. Reporting by Zhang Yan, Albee Zhang and Brenda Goh Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ The Green Energy Factory Facing a Storm of China Backlash
▼ + stars: | 2023-04-14 | by ( Phred Dvorak | ) www.wsj.com time to read: 1 min

Chinese clean-energy manufacturers were enticed by huge green subsidies to expand in the U.S. Now, they are confronting a storm of anti-China sentiment. Projects across the country involving Chinese companies face resistance, including a $3.5 billion battery factory Ford Motor Co. is setting up with the help of Chinese battery company Contemporary Amperex Technology Co., or CATL. Other projects are soft-pedaling their Chinese ties.

☆ Chinese battery maker SVOLT plans five Europe plants - Bloomberg News
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

April 13 (Reuters) - Chinese battery maker SVOLT Energy Technology Co is set to expand its footprint in Europe to as many as five factories, Bloomberg News reported on Thursday. SVOLT is looking at locations in eastern, northern and western Europe, with one larger site in the 20-gigawatt range, according to the report. The company is targeting production capacity of at least 50 gigawatt-hours in Europe by the end of the decade, SVOLT Europe head Kai-Uwe Wollenhaupt said in an interview with Bloomberg. Besides, SVOLT is in talks with several European car makers about battery cell supply agreements, the Bloomberg report said. Data shows some 44% of planned battery capacity in Europe by 2030 is expected from Asian companies, with Chinese battery giant CATL on top of the list.

☆ Tesla to build Shanghai factory to make Megapack batteries
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 9 (Reuters) - Tesla Inc (TSLA.O) is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday. Complementing a huge existing Shanghai plant making electric vehicles, the new factory will initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, to be sold globally, Xinhua said. Chinese battery giant CATL (300750.SZ) has also been deepening its collaborations with clients including Tesla in energy storage battery supplies, which its Chairman Robin Zeng expected to have a larger market than batteries powering electric vehicles (EV). The company began producing Model 3 cars in Shanghai in 2019 and now is capable of producing 22,000 units of cars per week. Tesla planned to expand the Gigafactory Shanghai, its most productive automaking plant, to add an annual capacity of 450,000 units, Reuters reported last May.

☆ Tesla to build Shanghai factory to make Megapack batteries, Xinhua reports
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 9 (Reuters) - Tesla Inc (TSLA.O) will build a factory in Shanghai to make the Megapack energy storage product, Chinese state media outlet Xinhua reported on Sunday. Elon Musk's automaker will break ground on the plant in the third quarter and start production in the second quarter of 2024, Xinhua reported from a signing ceremony in Shanghai. Complementing a huge existing Shanghai plant making electric vehicles, the new factory will initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, to be sold globally, Xinhua said. Chinese battery giant CATL (300750.SZ) has also been deepening its collaborations with clients including Tesla in energy storage battery supplies, which its Chairman Robin Zeng expected to have a larger market than batteries powering electric vehicles (EV). Tesla planned to expand the Gigafactory Shanghai, its most productive automaking plant, to add an annual capacity of 450,000 units, Reuters reported last May.

☆ Goldman Sachs just turned bearish on BMW and others — and Tesla could be to blame
▼ + stars: | 2023-04-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has warned that European automakers are at risk of losing market share to Tesla and Chinese firms. The Wall Street investment bank said the transition toward battery electric vehicles in Europe could spark swings in some share prices. Europe's incumbent mass-market brands accounted for 72% of sales last year, Goldman Sachs analysts said. Chinese electric car maker Nio announced plans to open a manufacturing plant in Hungary last year. The change in regulation allowing for e-Fuel — a synthetic drop-in replacement for gasoline — also has the potential to de-risk companies and brands, according to Goldman Sachs.

WASHINGTON, March 31 (Reuters) - The U.S. Treasury Department on Friday unveiled stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect. The EV battery sourcing guidance issued on Friday triggers new requirements for critical minerals and battery components and takes effect for vehicle purchases starting April 18. The government will publish by April 18 a revised list of qualifying models and tax credit amounts. The $430 billion Inflation Reduction Act (IRA) signed by Biden in August eliminated manufacturer's EV sales caps but imposed new conditions on EV credits. Republican Senator Marco Rubio introduced legislation this month seeking to block EV tax credits for batteries produced using Chinese technology, saying it would "significantly restrict the eligibility of IRA tax credits and prevent Chinese companies from benefiting."

We view it as more important to get back raw materials from cars and other products," Chief Financial Officer Nicolas Peter said in an interview. Some, such as Volkswagen (VOWG_p.DE), are betting big on expanding their own battery production and investing in mines to secure control down the supply chain. Mercedes-Benz (MBGn.DE) said on Thursday it had made a "fundamental decision" to allocate capital to mining and had set up a raw material office in Canada, where it signed a raw materials agreement last year. "With our business development, we are creating the motivation to invest - but we do not need to develop big recycling facilities for battery cells ourselves." Investing in technologies requiring fewer critical raw minerals, including hydrogen-powered cars, is another way BMW plans to bring down costs.

We view it as more important to get back raw materials from cars and other products," finance chief Nicolas Peter said in an interview. BMW has its own battery cell research centre in Germany, but has left large-scale development to partners, placing multi-billion-euro orders with CATL (300750.SZ) and EVE Energy (300014.SZ) to produce battery cells in China and Europe. Mercedes-Benz said on Thursday it had made a "fundamental decision" to allocate capital to mining and had set up a raw material office in Canada, where it signed a raw materials agreement last year. Investing in technologies requiring less raw critical minerals, including hydrogen-powered cars, was another way to bring down costs, Peter said. The carmaker has a battery cell recycling facility via its joint venture in China, but does also not see the need to develop large cell recycling facilities of its own, Peter said.

☆ China's CATL to start mass production, delivery of M3P batteries this year
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, March 24 (Reuters) - Chinese battery giant CATL (300750.SZ) plans to start mass production and delivery of batteries based on a new materials technology, M3P, which will perform better but cost less than nickel and cobalt-based batteries, its chairman said. Zeng Yuqun made the comments in an online investor briefing on Friday. M3P batteries will have greater energy density and perform better than lithium-ion phosphate batteries, a market CATL dominates, but will be cheaper than nickel and cobalt-based batteries, he added. Reporting by Zhang Yan and Brenda GohOur Standards: The Thomson Reuters Trust Principles.

As the image shows, on an earnings before interest and tax (EBIT) basis, Ford Model e had a profit margin of roughly negative 40% in 2022. Ford Motor disclosed on Thursday that its electric vehicle unit, called Ford Model e, lost $2.1 billion in 2022 — and could lose as much as $3 billion in 2023. Here, step by step, is how Lawler said Ford expects Model e to get to a positive 8% EBIT profit margin in under four years:Scale. Ford expects to have the capacity to build EVs at a rate of 2 million per year by the end of 2026. Ford expects to have the capacity to build EVs at a rate of 2 million per year by the end of 2026.

Search resuls for: "CATL"

25 mentions found