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(EV) batteries

LG Chem expands battery investment in China

Mon, 01/14/2019 - 00:00 -- John Shepherd

South Korean battery giant LG Chem has confirmed plans to invest the equivalent of more than US$1 billion to expand its battery manufacturing capacity in eastern China.

LG Chem signed a 1.1 trillion Korean won (KRW) investment contract with municipal and city leaders to include building a third plant in Nanjing, which will produce electric vehicle (EV) batteries.

According to the agreement, LG Chem will invest KRW600bn in the new plant and an existing EV and small battery plant by 2020 respectively— all in the Nanjing Xinjiang Economic Development Zone.

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CATL Geely steers EV batteries joint venture

Mon, 01/07/2019 - 00:00 -- Hugh Finzel

Lithium battery manufacturer Contemporary Amperex Technology Limited (CATL) has reached an agreement with Chinese peer Geely Auto, to form a joint venture company that will develop and produce batteries for electric vehicles.

The newly formed company— called CATL Geely Power Battery (CATL Geely)— will “ensure the stable supply of high-performance components for Geely Auto’s next generation of electrified vehicles.”

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BYD ‘on course for batteries unit IPO’

Mon, 12/17/2018 - 00:00 -- John Shepherd
Wang Chuanfu

Chinese automotive manufacturer BYD plans to list its batteries business within the next four years to fund expansion plans, founder and chairman Wang Chuanfu has said.

Wang (pictured) told Bloomberg the company, which is backed by Warren Buffett’s Berkshire Hathaway group, is eyeing an initial public offering for its battery storage business by the end of 2022.

Wang said the company is in the process of spinning off its vehicle-battery operations into a separate firm before listing. He said the listing would take place by the end of 2022— but that the Shenzhen-based company had yet to decide where the shares would be traded.

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Auto alliance invests in Enevate’s advanced LIB tech

Mon, 11/19/2018 - 00:00 -- John Shepherd
Enevate batteries

International automotive partnership Renault-Nissan-Mitsubishi Alliance Ventures is stepping up its investment in fast-charge battery technology research.

The partners’ investment arm, Alliance Ventures, said it has invested in a round of funding for the Enevate Corporation— a Californian advanced lithium-ion battery tech developer.

Enevate’s “silicon-dominant lithium-ion HD-Energy Technology features extreme fast-charging capabilities with high energy density and improved safety”, Alliance Ventures said.

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Second life for Nissan batteries in Endesa power plant

Mon, 11/19/2018 - 00:00 -- Hugh Finzel
Melilla power plant

Spanish utility Endesa is to re-use batteries taken from Nissan Leaf electric vehicles in a “pioneering” storage system at its Melilla power plant.

Endesa said the system at the oil- and gas-powered plant, in the Spanish enclave city of Melilla in Morocco, will use more than 90 interconnected batteries from EVs to create a 4 megawatt storage unit with a with a maximum storage capacity of 1.7 megawatt-hours.

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