Toyota has signed a KRW 2.9 trillion ($2.2 billion) contract with LG Chem to supply cathode material to its North American operations until 2030. The deal comes not long after the Japanese automaker announced it would secure 20 gigawatt-hours of cells a year from LG Energy Solution, a subsidiary of LG Chem, from its gigafactory […]
> Japan is stepping up support for its domestic lithium ion battery supply chain, earmarking up to ¥347.9bn ($2.4 billion) of subsidies to support projects encompassing battery cells, battery materials, and cell production equipment, according to the Ministry of Economy, Trade and Industry (METI). “This is a big offensive from the Ministry of Economy Trade and […]
> Vulcan Energy Resources, an Australian DLE (direct lithium extraction) developer operating in Europe, has signed an eight-year offtake agreement with commodity trader Glencore. Under this agreement Glencore will take 40,000 tonnes of lithium hydroxide (35,200 tonnes LCE) over an eight-year period starting from when Vulcan Energy enters commercial production, towards the end of the decade. […]
> The Volkswagen Group has invested C$69 million (US$48 million) for a 9.9% stake in Canadian lithium developer Patriot Battery Metals. Patriot also signed a binding offtake agreement to supply PowerCo, Volkswagen’s battery making subsidiary, with 100,000 tonnes of spodumene concentrate per year (~10,000 tonnes lithium carbonate equivalent) over a decade. The lithium will come from […]
> Lithium chemical prices spiked in China on Monday following a bullish speech by the chairman of Ganfeng – the world’s third-largest lithium producer – in which it was suggested that lithium demand growth could reach 30% in 2026. In a keynote speech on 16 November at the 10th International Summit on Power Battery Application in […]
> Benchmark hosted its inaugural Giga Africa event in Marrakesh, Morocco in September, featuring delegates from across the battery supply chain. Over the many conversations and discussions held about Africa’s place in the global battery supply chain, several key themes emerged: Explore these topics in the words of Giga Africa’s expert speakers and panellists.
> LG Chem said it will invest 1.2 trillion won ($900 million) with Huayou Cobalt in a new joint venture to build a pCAM plant for the electric vehicle supply chain in South Korea, a move that that could test be another test of the partnership’s eligibility for the US Inflation Reduction Act. While the investment […]
> Umicore is scaling-back a number of supply chain investments as it recognises a €1.6 billion impairment charge on its battery material business, citing a “sharp slowdown” in the ramp up of EV sales in half-year results released last week. The Belgian company said it was seeing an 18-month delay in the “ramp up of customer […]
> Volkswagen plans to spend €15 billion ($16 billion) over the next five years on battery plants and to secure critical raw materials, a move that includes setting up its first cell making gigafactory outside of Europe in Canada. The German automaker’s latest plan is part of its bigger push to spend €180 billion ($192 billion) […]