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South Korea plans Li-on push in face of China sanctions

Mon, 09/18/2017 - 11:46 -- News Editor
South Korea plans Li-on push in face of China sanctions

South Korea is backing plans by the country’s battery giants to inject a total of KRW2.3 trillion ($2.3 billion) into the sector over the next three years, to expand production and challenge China’s increasing dominance of the market.

The move, led by battery giants LG Chem, Samsung SDI and SK Innovation Companies is in response to Chinese sanctions the firms say effectively block the use of South Korean batteries in electric vehicles in China.

 

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Swatch countdown to launch EV batteries for China’s Geely

Thu, 09/14/2017 - 10:00 -- News Editor
Swatch countdown to launch EV batteries for China’s Geely

Swiss watchmaker Swatch expects to get the green light for its newly-developed car batteries to be used in electric vehicles made by Chinese automaker and joint-venture partner Geely next year, according to a report.

Swatch confirmed earlier this year its Belenos Clean Power subsidiary had begun testing its prototype vanadium pentoxide cathode battery technology under an agreement with Geely.

 

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Tianneng reports lead batteries sales hike

Tue, 09/12/2017 - 11:10 -- News Editor
Tianneng reports lead batteries sales hike

China’s Tianneng Power International Ltd said revenue for the first half of 2017 has been boosted by a 26.5% rise in lead battery sales, compared to the year-ago period.

In newly-released interim figures for the period up to 30 June, Tianneng posted revenue of more than CNY10 billion ($1.5b).

 

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China’s Camel to join Nissan battery buyout deal

Mon, 09/11/2017 - 11:38 -- Xuan Zhong
China’s Camel to join Nissan battery buyout deal

Camel Group has become the latest Chinese battery maker set to invest in the takeover of Nissan’s battery business led by private equity firm GSR Capital Advisors.

The announcement came after Zhejiang Unifull Industrial Fibre said it too would invest as a partner in the buyout deal.

 

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Renault-Nissan in China EVs joint venture

Mon, 09/04/2017 - 10:37 -- News Editor
Renault-Nissan in China EVs joint venture

Renault-Nissan have inked a joint venture deal with the Dongfeng Motor Group Co., Ltd., to co-develop and sell electric vehicles (EVs) in China.

However, the firms are being tight-lipped about where batteries for the new enterprise – eGT New Energy Automotive Co., Ltd., (eGT) – will be produced.

 

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Chinese firm joins Nissan battery buyout deal

Wed, 08/30/2017 - 10:20 -- News Editor
Chinese firm joins Nissan battery buyout deal

A Chinese lithium battery manufacturer is chipping in up to $100 million to join the takeover of Nissan’s battery business by Chinese private equity firm GSR Capital Advisors.

Zhejiang Unifull Industrial Fibre said in a stock exchange filing it had signed a framework agreement with GSR Capital to become a partner in funding the Nissan deal, which Nissan confirmed earlier this month.

 

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China battery materials site plan

Wed, 08/23/2017 - 11:55 -- News Editor
China battery materials site plan

A Chinese company has announced plans to build an anode materials production base for lithium-ion batteries in Inner Mongolia.

Ningbo Shanshan Co., Ltd said its New Materials Technology subsidiary had proposed the facility in Baotou, at an estimated investment cost of CNY3.8 billion (around $570m).

 

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Aquion ‘reborn’ under China-linked JV

Mon, 08/14/2017 - 12:07 -- News Editor
Aquion ‘reborn’ under China-linked JV

Sodium-ion batteries manufacturer Aquion Energy is back in operation – under new ownership and with a new name – after emerging from Chapter 11 bankruptcy in the US.

Aquion, now known as AEI Winddown, has been acquired in a bankruptcy auction by “a majority-American joint venture” for what Bloomberg said was $9.16 million.

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Strong stop-start battery shipments boost JCI sales

Tue, 08/08/2017 - 10:43 -- News Editor
Strong stop-start battery shipments boost JCI sales

Strong shipments of stop-start batteries boosted Johnson Controls International’s performance in its fiscal third quarter.

Adjusted earnings before interest and taxes for the US tech giant’s Power Solutions division, which includes the lead-acid battery recycling business, rose 8.6% to $304 million for the three months to June 30 from $280 million in Q3 2016.

 

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Warning of overcapacity in China

Mon, 08/07/2017 - 10:12 -- News Editor
Warning of overcapacity in China

China’s automotive battery manufacturers face “a saturated market” in the next couple years, according to the China Daily newspaper.

“The Chinese power battery sector entered overcapacity status in 2016, and will be more excessive in 2018 or 2019,” said Zhang Junyi, partner of Nio Capital, an investment firm with links to electric vehicle company NextEV.

 

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