Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "ALBU Ion


25 mentions found


Oct 9 (Reuters) - Australia's EcoGraf (EGR.AX) said on Monday it would evaluate prospects of developing a battery anode material (BAM) facility in Vietnam in collaboration with local lithium-ion battery manufacturer VinES Energy Solutions (VinES). The Australian graphite producer will support VinES with its U.S.-patented BAM processing technology, whereas VinES, a member of the Vin Group, will provide its services to support EcoGraf's expansion plans in the United States. EcoGraf will evaluate the potential to combine a localised graphite material supply in Vietnam with future feedstock from its Epanko project in Tanzania, the company said in a statement. "The agreement provides for a phased evaluation programme under which VinES and EcoGraf will initially assess and qualify local Vietnam graphite suppliers, with a view to incorporating domestic production into the supply chain," EcoGraf said. The companies will enter a binding agreement to jointly develop a battery anode supply chain in Vietnam with further options for certain financing, investments and product offtake agreements.
Persons: EcoGraf, Echha Jain, Kim Coghill, Subhranshu Organizations: Energy, Vin, Thomson Locations: Vietnam, United States, Tanzania
The deal will support Toyota's expanding battery EV line-up, which includes a new model that will be assembled at a manufacturing plant in Kentucky — its largest globally — starting in 2025. LG Energy Solution also supplies other automotive giants such as America's General Motors , South Korea's Hyundai, and Japan's Honda . Less than five months ago, LG Energy Solution said it will build a $4.3 billion EV battery plant in the U.S. with Hyundai, in a bid to leverage tax credits. LG Energy Solution will invest about 4 trillion Korean won ($3 billion) "to establish new production lines for battery cells and modules exclusively for Toyota, with completion slated for 2025." Chinese competitionLG Energy Solution is currently the world's third-largest EV battery producer after Chinese EV player BYD, according to data from South Korean energy market research firm SNE Research.
Persons: Youngsoo Kwon, Kwon, Toyota's, Japan's Organizations: Korea's LG Energy, Toyota, LG Energy, CNBC, America's, Motors, Hyundai, Japan's Honda, U.S, Lexus, LG, EV, BYD, SNE Research Locations: U.S, Kentucky, Toyota's Tokyo
Toyota logo is seen at a Toyota Society Motors showroom in Karachi, Pakistan, July 27, 2022. LGES will invest $3 billion in its Michigan battery facility to supply Toyota exclusively. LGES also is a partner with General Motors (GM.N) in the Ultium battery joint venture, which is building a separate $2.1 billion plant in Lansing, Michigan to supply GM's electric vehicles. LGES will supply Toyota with 20 gigawatt-hours of high-nickel NCMA battery modules annually from the South Korean company's Michigan facility. The battery maker will establish new production lines in Michigan for pouch-type battery cells and modules for Toyota.
Persons: Akhtar Soomro, LGES, Shivansh, Shilpi Majumdar, Cynthia Osterman Organizations: Toyota, Toyota Society Motors, REUTERS, LG Energy, General Motors, Hyundai, Honda, Panasonic, Prime Planet Energy & Solutions, Korean company's, Thomson Locations: Karachi, Pakistan, KS, U.S, Michigan, Lansing , Michigan, North Carolina, Korean company's Michigan, Bengaluru
The spacecraft would also make room for 200 kilograms (440 pounds) of foreign science payloads, the agency said on its website. This could allow overseas partners to conduct lunar research by “piggybacking” off the mission, Chinese state media said. China is not alone in elevating its space program and lunar ambitions as multiple countries eye the potential scientific benefit, national prestige and access to resources and further deep space exploration that successful moon missions could bring. That same week, Russia’s first lunar mission in decades ended in failure with its Luna 25 spacecraft crashing into the moon’s surface. Its last mission, Chang’e-5, landed on the moon in December 2020 and returned with samples of lunar rocks and soil.
Persons: CNSA, , “ piggybacking, Artemis, Hu Hao, Hu, can’t, Pakistan’s Organizations: Hong Kong CNN, Space Administration, International Astronautical, United, NASA, Artemis, Aitken, European Space Agency Locations: Hong Kong, Beijing, Baku, Azerbaijan, China, Russia, Venezuela, South Africa, India, United States, Italian
Companies Reliance Industries Ltd FollowGREATER NOIDA, India, Oct 4 (Reuters) - Indian oil refining giant Reliance Industries showcased its swappable and multipurpose battery storage technology for electric vehicles (EVs) on Wednesday, as it makes a big push on clean energy. Reliance, led by billionaire Mukesh Ambani, displayed removable and swappable batteries for EVs that can also be used to power household appliances through an inverter at a renewable energy exhibition. The batteries can be swapped at Reliance's battery swap stations or re-charged by households using rooftop solar panels, which also it plans to sell, the executives added. Development of battery storage solutions is a part of Reliance's bigger $10 billion green push towards clean energy projects. The factory will be set up by 2026 and will make batteries and containerised energy storage solutions.
Persons: Mukesh Ambani, Arpan Chaturvedi, Aditi Shah, Dhwani Pandya, Kim Coghill Organizations: Reliance Industries, Reliance, Electric, Thomson Locations: NOIDA, India
The mountains of Colorado in the background inspired the name of the company, Peak Energy. We're completely the opposite," Cameron Dales, president and chief commercial officer of Peak Energy, told CNBC in a video interview Friday. 1 issue we face as it relates to expanding renewable energy sources is storage," Reichow told CNBC. "We're running a playbook which I and the rest of the executive team initially demonstrated and deployed at Northvolt," Mossburg told CNBC. "Landon and I worked together at Tesla and I know what he's capable of delivering," Reichow told CNBC.
Persons: Cameron Dales, Landon Mossburg, We're, Greg Reichow, Reichow, Ryan Gibson, Aidan Madigan, Curtis, Cameron, Mossburg, Northvolt, Peter Carlsson, Rho Kana, Enovix, Anil Achyuta, Landon, Tesla, Cam, It's, Alun Thomas, Dales Organizations: Peak Energy, Energy Battery, Energy, CNBC, Eclipse, Tesla, TDK Ventures, United States Energy Information Administration, Eclipse Venture, Cameron Dales, US, Dales, Symyx Technologies, Northvolt, Ford, Manufacturing Engineering, Panasonic Locations: Colorado, Silicon, Tokyo, San Francisco, Northvolt, Sweden, Cameron Dales, Fremont , Calif, Fremont , California, Penang, Malaysia, China, United States, U.S, Nevada, Enovix
The U.S. Inflation Reduction Act has driven Swedish battery maker Northvolt to announce for a factory in Canada earlier than originally expected, in a concrete example of how Biden's policy is influencing business decisions. "It definitely played a role to accelerate our decision to expand into North America," Paolo Cerutti, co-founder of Northvolt told CNBC. Northvolt announced Thursday it will establish a fully integrated lithium-ion battery gigafactory in the Canadian province of Quebec — its first factory outside Europe. The $300 billion U.S. Inflation Reduction Act, often referred to as IRA, is a landmark climate and tax deal that includes green subsidies for businesses. Canada has also offered the Swedish battery maker its own support in the form of loans.
Persons: Northvolt, Paolo Cerutti Organizations: CNBC Locations: Swedish, Canada, North America, Canadian, Quebec, Europe
The first phase of the construction of the Northvolt Six factory just outside Montreal will begin this year and it is expected to be operational in 2026. Northvolt will invest $3.2 billion of the total with the local and federal government each contributing $1 billion, Northvolt Co-Founder Paolo Cerruti told Reuters. "We looked at 70 different sites at the beginning of this process," Cerruti said. The $369-billion U.S. Inflation Reduction Act (IRA) passed last year has prompted companies including Northvolt to look across the Atlantic, attracted by hefty subsidies and cheaper energy. "This size of investment and project can not happen if you don't have an anchor customer," he said.
Persons: Northvolt, Paolo Cerruti, Cerruti, Supantha Mukherjee, Divya Rajagopal, Kirsten Donovan Organizations: Reuters, Northvolt, Canada, Ontario, BMW, RIC, Volvo, Thomson Locations: STOCKHOLM, TORONTO, Swedish, Quebec, Canadian, Montreal, Northvolt North America, United States, Canada, Scania, North America, Stockholm, Toronto
How surging trade with China is boosting Russia’s war
  + stars: | 2023-09-28 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +15 min
Mikhail Tereshchenko | Afp | Getty ImagesThe defense ministries of China and Russia did not respond to CNBC's request for comment on the trade flows. Trade of 'dual-use' goods spikesTotal bilateral trade between Russia and China hit a record high of $190 billion in 2022, up 30% from 2021. Semiconductor sales to Russia from China and Hong Kong more than doubled in 2022 as Western sanctions took hold. Meantime, construction equipment has played an "underappreciated" but significant role in China's contribution to Russia's war efforts, having helped bolster its defenses against Ukraine's counteroffensive, Joseph Webster, senior fellow at the Atlantic Council, said. The findings add to the growing list of Chinese goods and companies reported to be supplying Russia's military, including state-owned enterprises.
Persons: Vladimir Putin's, Mark Cancian, Vladimir Putin, Xi Jinping, Mikhail Tereshchenko, Wang Yi, China's, Putin, Li Shangfu, , Qilai Shen, Antonia Hmaidi, Cancian, they've, Hong Kong Retekess, Legittelecom, It's, Silva, Hmaidi, Joseph Webster, Webster, that's, Ramzan Kadyrov, Russia's Organizations: CNBC, for Strategic, International Studies, Kremlin, Afp, Getty, Ukraine's Defense Ministry, Ukrainian Armed Forces, Bank of Finland's Institute, Emerging, Semiconductor, CNBC CNBC, Federal, Service, SZ DJI Technology, Robotics, Iflight, SZ, Technology, Bloomberg, Rostov, R Technology, Beijing KRnatural International Trade Co, Mercator Institute for China Studies Defense, Industry, Hong, Mercator Institute for China Studies, Moscow, ImportGenius, Ukraine's, Atlantic Council, Atlantic, U.S, China Taly Aviation Technologies, China Poly Technologies, EU, Beijing, National Security Council Locations: Ukraine, China, Washington, Russian, Moscow, Russia, Beijing, U.S, Kyiv, Hong Kong, Shenzhen, DJI, Liaoning, Shanghai, Berlin, Buryatia, Hubei, Korea, Pyongyang, Russia's, Amur, Chechen Republic, Qianwan, Qingdao Port, Shandong Province, deniability
The recall covers 1.64 million Hyundai models including 2012 through 2015 Hyundai Accents, 2011 through 2015 Elantras and 2011-2015 Genesis coupes. Hyundai and Kia are both part of the Hyundai Motor Group and their vehicles frequently share engineering. Kia and Hyundai owners are being advised to check NHTSA’s website to see if their specific vehicle is involved in this, or any, recalls. In 2022, owners of 500,000 Kia and Hyundai vehicles were also warned to park outside because a problem with anti-lock brake control electronics. In 2020, Kia recalled 295,000 vehicles because they could catch fire while driving because of fuel leaks.
Persons: they’re, Kia, Elantras, Sorentos Organizations: CNN, Hyundai, Kia, National, Traffic Safety Administration, NHTSA, Hyundai Motor Group Locations: United States
TOKYO, Sept 25 (Reuters) - Japan's Sumitomo Metal Mining (5713.T) said on Monday it will invest 16.9 million Canadian dollars ($12.5 million) in Canada's battery material company Nano One Materials (NANO.TO) to collaborate on manufacturing technology for the material. The move comes after Japan and Canada agreed to work more closely together to establishing sustainable and reliable global battery supply chains. Sumitomo Metal supplies the nickel-cobalt-aluminium (NCA) cathode materials for the Panasonic (6752.T) lithium-ion batteries used in Tesla (TSLA.O) electric vehicles (EVs). The two companies will work together to develop manufacturing technology for battery cathode materials for EVs at a lower cost and environmental impact, it added. Sumitomo Metal has been expanding its production capacity of the cathode materials and plans further expansions.
Persons: Yuka Obayashi, Louise Heavens Organizations: Sumitomo Metal Mining, Sumitomo Metal, Panasonic, Thomson Locations: TOKYO, Japan, Canada
E-bike company Super73 released a bike for kids that can go up to 15mph and costs nearly $1,300. It can go up to 15 miles an hour on any terrain, comes in four colors – and costs $1,295. The K1D is aimed at 4 to 8-year-olds – the same age range when many children learn how to ride a bike. Crewse says his niece loves her K1D bike. Are you a parent who has bought an e-bike for your child, is considering buying one – or is a skeptic?
Persons: Super73, LeGrand Crewse, Crewse, she's Organizations: Service, moto, presale Locations: Wall, Silicon, California, New York City
Green energy’s tailwinds blow the other way
  + stars: | 2023-09-22 | by ( Peter Thal Larsen | ) www.reuters.com   time to read: +7 min
Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. As relations with China deteriorate, the United States and Europe are increasingly concerned about the country’s grip on parts of the green energy supply chain. In recent roundtable discussions moderated by Breakingviews on both sides of the Atlantic, participants expressed optimism about the momentum of investment in green energy. The IRA has unleashed a green energy boom. The world can ill afford to relax its embrace of green power.
Persons: Rishi Sunak, , Joe Biden’s, Jared Cohen, Goldman Sachs, Breakingviews, carmaker Ford, Rishi Sunak’s, Pennsylvania’s Penn, George Hay, Sharon Lam, Aditya Sriwatsav Organizations: Britain's, Downing, Reuters, Global, International Energy Agency, International Renewable Energy Agency, Energy, Commission, Applied Innovation, Goldman, Amperex Technology, Companies, British, MIT’s Center for Energy, Environmental, Research, University, Pennsylvania’s, Thomson Locations: London, Ukraine, U.S, China, United States, Europe, People’s Republic, Vietnam, Mexico
France's Eramet and Suez pick Dunkirk for EV battery recycling
  + stars: | 2023-09-22 | by ( ) www.reuters.com   time to read: +2 min
A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, September 8, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing RightsPARIS, Sept 22 (Reuters) - Eramet (ERMT.PA) and Suez have chosen Dunkirk as the location for a planned electric vehicle (EV) battery recycling facility as the partners look to tap into a battery production belt being developed around the northern French port, they said on Friday. A pilot plant to test the refining process is about to be launched at Eramet's research centre near Paris, they added. Several gigafactories are due to produce batteries in the Dunkirk area as the French government encourages the emergence of a "battery valley" to support EV manufacturing. Eramet and Suez's battery dismantling plant will have a processing capacity of 50,000 tons of battery modules per year, the equivalent of 200,000 EV batteries, they said.
Persons: Phil Noble, Eramet, Gus Trompiz, Jan Harvey Organizations: REUTERS, Rights, Suez, European Union, BPI, Thomson Locations: Manchester, Britain, Dunkirk, Suez, French, Paris, Argentina
The Energy Department has announced a $325 million investment in new battery types that can help turn solar and wind energy into 24-hour power. Batteries are increasingly being used to store surplus renewable energy so that it can be used later, during times when there is no sunlight or wind. The department says the projects will protect more communities from blackouts and make energy more reliable and affordable. “Long-duration battery storage is like a rainy-day savings account for energy storage,” said Jodie Lutkenhaus, professor of chemical engineering at Texas A&M University. This one is led by the California Energy Commission in collaboration with Faraday Microgrids.
Persons: , Christopher Rahn, , Jodie Lutkenhaus, ” Lutkenhaus, Amanda Smith, Faraday, Rejoule, Infrastructure David Crane, Elisabeth Moyer, ” Rahn Organizations: Energy Department, Pennsylvania State University, Texas, M University, , Law, Xcel Energy, Energy, Children's, California Energy Commission, Smart Systems, EV, Canada . Energy, Infrastructure, University of Chicago, AP Locations: Lake, American, Minnesota, U.S, California , New York, Hawaii, Becker , Minnesota, Pueblo , Colorado, California's, Madera, Georgia , California, South Carolina, Louisiana, Petaluma , California, Santa Fe , New Mexico, Canada
But extracting these metals via deep-sea mining has become a lightning rod for global controversy, as many fear the potential ecological disruptions it could cause in a part of our planet that remains largely unexplored. The Metals Company has announced that it's planning to submit its application next summer and begin exploitation in 2025, leaving many concerned about the potential implications. "What I am absolutely convinced of is that we can slow down or maybe even stop the growth in rainforest nickel," Barron said. Deep-sea mining avoids the emissions associated with blasting, as well as sulfidic tailings, a waste material that can contaminate groundwater. Great unknownsA few years ago, the World Wildlife Fund released a business statement calling for a moratorium on deep-sea mining.
Persons: Jessica Battle, Gerard Barron, we're, Barron, Andrew Miller Organizations: Clarion, United Nations, International, Authority, ISA, Metals Company, Mining, The Metals Company, Benchmark Mineral Intelligence, Metals, World Wildlife, Google, Samsung, BMW, Volkswagen, Volvo, Renault, WWF, CCZ, National Oceanic, Atmospheric Administration Locations: Indonesia, Congolese, U.S, Texas
Prince William flew to New York on Monday for a two-day visit during which he attended the second Earthshot Prize Innovation Summit, an event which coincides with both Climate Week NYC and the 78th session of the UN General Assembly, and where the finalists were unveiled. Prince William speaks with kids as he visits Billion Oyster Project in New York City on Monday. Cindy Ord/Getty ImagesUpon touching down at Newark Airport on Monday, the Prince of Wales said it was good to be back in the US. “No one does optimism and ingenuity like the American people, so it’s only right we unveil this year’s Earthshot finalists in New York City,” William said. And vital.”The five Earthshot categories and finalists are:Protect and Restore NatureAccion Andina - Peru: A grassroots project working across South America to protect native forest ecosystems across the Andes.
Persons: Prince, Prince William, John F, Cindy Ord, Wales, ” William, , Kennedy Organizations: London CNN, UN, Assembly, Royal Foundation, Getty, Newark Airport, Air, US, Global, Technologies, Circ Inc Locations: Wales, New York, Singapore, United States, New York City, Peru, South America, Freetown, Tree, Sierra Leone, Council, Belterra, Brazil, Poland, United Kingdom, Hong Kong, South Africa, India
Agility Robotics is wrapping up construction of a factory in Salem, Oregon, where it plans to mass-produce its first line of humanoid robots, called Digit. The 70,000 square-foot facility, which the company is calling the "RoboFab," is the first of its kind, according to Damion Shelton, CEO and co-founder of Agility Robotics. For now, though, Agility Robotics is focused on the installation and testing of its first production lines. Matt Ocko, managing partner at DCVC and an investor in Agility, told CNBC that Digit should "fill millions of unmet roles that human beings don't want." At the same time, he emphasized, Agility Robotics has designed its humanoid robots to work safely and autonomously as a "robotic co-worker."
Persons: Damion Shelton, Aindrea Campbell, Campbell, that's, Optimus, Shelton, crouch, Agility's, Matt Ocko Organizations: Agility Robotics, Ford, CNBC, Robotics, DCVC, Playground Global Locations: Salem , Oregon
Workers are seen at the production line of lithium-ion batteries for electric vehicles (EV) at a factory in Huzhou, Zhejiang province, China August 28, 2018. "This will skyrocket our demand for lithium-ion batteries, fuel cells and electrolysers, which is expected to multiply between 10 and 30 times in the coming years," the paper, prepared by the Spanish presidency of the EU, said. While the EU has a strong position in the intermediate and assembly phases of making electrolysers, with a more than 50% global market share, it relies heavily on China for fuel cells and lithium-ion batteries crucial for electric vehicles. Lithium-ion batteries and fuel cells were not the only area of EU vulnerability, the Spanish presidency paper said. "The EU has a relatively strong position in the latter, but it shows significant weaknesses in the other areas," it said.
Persons: Stringer, Jan Strupczewski, Conor Humphries Organizations: REUTERS, Rights, European, EU, Reuters, European Commission, European Central Bank, Thomson Locations: Huzhou, Zhejiang province, China, Rights MADRID, Russia, Ukraine, Granada, Spain, Europe, Africa, Latin America, Spanish
A company logo of Shanghai Futures Exchange is displayed at a booth during LME Week Asia in Hong Kong, China June 14, 2016. REUTERS/Bobby Yip Acquire Licensing RightsBEIJING/LONDON, Sept 13 (Reuters) - The Shanghai Futures Exchange (ShFE) is looking into the possible launch of nickel futures for international use, a potential challenge to the London Metal Exchange's (LME) contract, five sources with knowledge of the matter told Reuters. Average daily LME nickel volumes plunged because of the crisis. CME Group (CME.O) is also looking to launch a nickel contract that would settle against prices gathered from a platform to be launched by British-based Global Commodities Holdings (GCH). CME did not respond to a request for an update on its plans for a nickel contract.
Persons: Bobby Yip, ShFE, Nickel, GCH, Pratima Desai, Siyi Liu, Julian Luk, Veronica Brown, Alexander Smith Organizations: Shanghai Futures, REUTERS, Rights, Shanghai Futures Exchange, London, Reuters, International Energy Exchange, CME, Global Commodities Holdings, Thomson Locations: Asia, Hong Kong, China, Rights BEIJING, LONDON, British, Singapore, Abaxx
Tesla shows interest in Sunrise New Energy's battery components
  + stars: | 2023-09-13 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 13 (Reuters) - Battery components maker Sunrise New Energy (EPOW.O) said on Wednesday that it had received interest for its products from electric vehicle maker Tesla Inc (TSLA.O). The China-based company, through its joint venture, manufactures and sells graphite anode material for lithium-ion batteries. Sunrise's joint venture is also constructing a 260,543 m2 manufacturing plant in China's Guizhou province. Sunrise said it had received request from Tesla's battery raw materials team to provide technology details, manufacture plans and available capacity for its products. Tesla has been making supply deals with lithium companies including Liontown Resources (LTR.AX) and Core Lithium (CXO.AX) to meet raw material demand for its vehicles.
Persons: Arnd, Tesla, Tanay, Maju Samuel Organizations: REUTERS, Sunrise New Energy, Tesla Inc, Liontown Resources, Thomson Locations: Bern, Switzerland, China, China's Guizhou, Bengaluru
The Best Electric Razors for Women for a Smooth Finish
  + stars: | 2023-09-12 | by ( Abbie Kozolchyk | ) www.wsj.com   time to read: +10 min
Buyers are increasingly going electric—some because electric shavers lead to far less landfill waste than disposable versions you’d replace daily or weekly. The back of the leg calls for pivoting heads, too, says Dr. Sarkar. “Many electric shavers have Lithium-ion batteries,” notes Dr. Sarkar—so carry-on would be your only option. Epilators, which do remove hair this way, sometimes get misclassified as electric shavers. So if you’re looking for something that will literally uproot your hair, electric shavers aren’t right for the job—but epilators are.
Persons: Abbie Kozolchyk, shaver, , Ava Shamban, who’s, Braun, Gentle Trimmer, Newton, Papri Sarkar, trimmer, Joshua Zeichner, Sarkar, Remington shaver, , There’s, don’t, Melissa Dezarate, groomer, Mary Lupo, M.D, Zeichner, you’re, Shamban, you’ll Organizations: Gillette, AA, Mount Sinai, AAA Locations: TikTok, Beverly Hills, Santa Monica, Calif, Germany, Mount, New York City, New Orleans
The report highlights the numerous human rights violations that have occurred as a result of mining activity. The mine is operated by Compagnie Minière de Musonoie Global SAS, or COMMUS, a joint venture between Chinese company Zijin Mining and the state-owned Gecamines mining company. Often there was no grievance mechanism, accountability, or access to justice.”Amnesty International says companies are not doing enough to address human rights concerns and are disregarding international human rights laws and standards, as well as national legislation and U.N. Guiding Principles on Business and Human Rights. Decarbonizing the global economy must not lead to further human rights violations,” it said.
Persons: “ Ernest Miji, Chemaf, COMMUS, Donat Kambola Organizations: Amnesty International, U.S . House, Good, Human, Resources, Residents, Coalition, Rights, Amnesty, Compagnie Minière de, Global SAS, Mining, AP Locations: ABUJA, Nigeria, Congo, U.S, Kolwezi, Lualaba Province, Lualaba, Dubai, Cité
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
Leonhard Simon/Getty ImagesEven before the show kicked off, Renault chief executive Luca de Meo was on French radio talking up the rapid advances made by Chinese EV makers. Competitors worry that Chinese brands may eventually dominate the global EV market. In Europe, the top destination for China’s car exports, sales of Chinese EVs are booming. Supply chain advantageA major factor contributing to the lower cost of Chinese EVs is the country’s dominance of the EV battery supply chain. However, geopolitical tensions could complicate Chinese EV firms’ global push.
Persons: Leonhard Simon, Luca de Meo, ” de Meo, ” “, , Dylan Khoo, Li Yunfei, Oliver Zipse, Khoo, It’s, — Hanna Ziady, Olesya Dmitracova Organizations: Hong Kong CNN, Visitors, Renault, Chinese EV, RTL Radio, China Association of Automobile Manufacturers, China Passenger Car Association, Union, UBS, Europe Auto, EV, New, Research, Deloitte, BMW, ABI Research, Jato Dynamics, , China’s SAIC, MG, IAA, SNE Research Locations: China, Hong Kong, Munich, Germany, Chinese, Europe, Australia, Southeast Asia, Japan, Russia, New York, United States, France, British, United Kingdom, South Korean
Total: 25