Chinese lithium battery giant Contemporary Amperex Technology Co Ltd (CATL) is planning a CNY13.12 billion ($1.98bn) initial public offering to expand its automotive battery business.
CATL said in a Shenzhen Stock Exchange announcement the move will ensure the firm keeps pace with the rapidly-expanding electric vehicle and energy storage markets.
Swedish lithium-ion battery maker Northvolt AB is to partner with two of the countries’ cities to set up what it says will be “Europe’s largest and most cutting-edge lithium-ion battery manufacturing” operation.
Northvolt said the ‘Gigafactory business’ will be split between the cities of Skellefteå in the north— which will host the production factory— and the central Sweden city of Västerås— where key research and development operations will be located.
Indian lead-acid battery maker Amara Raja Batteries is reportedly preparing to branch out into “alternative chemistries” as part of business expansion plans.
Amara chairman Ramachandra N Galla told India’s Business Standard: “We expect to finalise the technologies and the investment plans in a year or two. The work on research, capital costs and partnerships is currently under way.”
Canada’s government is investing CAD500,000 ($396,000) in Nova Scotia-based battery testing equipment provider, Novonix Battery Testing Services Inc.
Lithium-ion specialist Novonix, which became wholly-owned by Australian mining minnow Graphitecorp earlier this year, said the funds from the Atlantic Canada Opportunities Agency would help it expand its international marketing.
London-listed investment company TRIG has acquired 100% of an energy storage project in Scotland for GBP20 million ($26m) from renewable energy developer RES (Renewable Energy Systems).
The 20MW energy storage site in Broxburn, equipped with Samsung SDI’s lithium-ion technology, was developed and will be operated by RES.
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).