Global Scans · Batteries · Weekly Summary

• [New] Recycling could provide 43% of the minerals required for domestic manufacturers to meet demand for batteries by 2040. The Economist
• [New] Budget 2024 added a sixth new one - an EV Supply Chain Investment Tax Credit that will apply to vehicle assembly, battery production and cathode active material production. Public Policy Forum
• [New] By 2030, mines in production or currently under construction will only meet half of global demand for battery metals like lithium and cobalt. Mining Weekly
• [New] At Auto Guangzhou 2023 last November, GAC Group unveiled its intention to integrate all-solid-state batteries into vehicles by 2026. wapcar.my
• [New] Solid-state batteries offer the potential to overcome the limitations of traditional liquid electrolyte batteries and have become a focal point in the global power battery competition. CarNewsChina.com
• [New] China's battery manufacturing capacity will outpace demand by a factor of four by 2027 as the EV industry continues to grow. AOL
• [New] Over the next three years, starting in 2024-2025, the Ontario government said will allocate $2.8 billion over three years for strategic investments in industrial support and land development, including Ontario's auto manufacturing sector and electric vehicle battery production. Electric Autonomy Canada
• [New] As a leader in sustainability, the BMW Group has already reached a contractual agreement with its cell manufacturers that they will only use green power to produce fifth-generation battery cells. BMW Group
• UBE Corporation has invested $500 million in its Waggaman, Louisiana, a Justice40 community, electrolyte solvent facility project for batteries which it expects to create 60 new jobs. The White House
• In 2024, if all suitable lithium metal produced were used for batteries, it could support 5 to 10 gigawatt-hours of cell production. CarbonCredits.Com
• ExxonMobil announced plans to begin producing lithium, the key component for electric vehicle (EV) batteries, by 2027. Oil & Gas Journal
• Demand for lithium has seen high growth rates for several years with no signs of slowing down anytime soon: lithium battery demand is expected to grow ten-fold by 2030. Kleinman Center for Energy Policy
• With China, Japan, and India adopting more electric vehicles, and urbanization driving demand, lithium-ion battery use is projected to surge, propelling li-ion battery recycling demand. Yahoo Finance
• Battery recycling capacity in Europe (including UK) by end-2023 would hit 160,000 tonnes, and reach 400,000 tonnes in 2025. Pro Bid Energy
• Over 100 new models of battery electric vehicles were announced for release by the world-leading automakers by 2024, which will increase the EV sales to 30-35% among passenger vehicles by 2030. PubMed Central (PMC)
• China will leapfrog steel and skyscrapers to a golden era of mass production of electric cars, batteries, biomanufacturing and the drone-based low-altitude economy. The Economist
• Batteries will continue to become more prevalent as EVs grow in popularity, but Princeton estimates that only 5% of power packs are recycled in the United States. The Cool Down
• The ESS battery manufacturing facility, called LG Energy Solution Arizona ESS, will produce lithium iron phosphate (LFP) pouch-type batteries for energy storage systems (ESS). Morningstar, Inc.
• The cylindrical battery plant, called LG Energy Solution Arizona, will produce 46-Series batteries for electric vehicles (EV). Morningstar, Inc.
• The Department of Energy has made $37 million available for projects that support research, development and demonstration efforts in recycling electric vehicle batteries and exploring their second-life applications. Government Market News
• In the battery sector alone, companies have announced plans to build 44 major factories with the potential to produce enough battery cells to supply more than 10 million electric vehicles per year in 2030. The Conversation

Last updated: 21 April 2024