South Korea’s LG Chem is setting up a joint electric vehicle batteries business with Chinese carmaker Zhejiang Geely Holding Group.
Each company has invested around US$94 million in the 50-50 joint venture, which, by the end of 2021, will produce 10GWh of EV batteries annually for the Chinese market.
Toyota is teaming up with several Asian battery manufacturers to ensure it has the supplies it needs to ramp up production of electric vehicles, the Japanese car company has confirmed.
Chinese battery and auto makers CATL and BYD are now lined up to work with Toyota—in addition to Japan’s GS Yuasa and Toshiba, Toyota bosses have confirmed.
Experts have warned that producing a new generation of electric vehicles— and supplying the electricity to keep their batteries charged— will add up to costly and “huge implications” for the world’s natural resources.
The UK alone would need just under twice the current annual world cobalt production to meet its EV targets for 2050, according to a letter to government climate change advisers co-authored by the head of earth sciences at the UK’s Natural History Museum, Prof Richard Herrington.
Thailand-based energy company Bangchak has made a “significant” undisclosed investment in US-based advanced lithium-ion battery tech developer Enevate.
CEO of California-based Enevate, Robert Rango, said the deal meant Bangchak becomes “an important partner in our mission to provide advanced battery technology that will help drive the growth of global EV markets with as little as five-minute charging times”.
The New York Power Authority (NYPA) has launched an ‘Innovation Challenge’ to help spur development of a “backbone” grid-linked charging network across the state to expand the use of electric vehicles and energy storage.
The NYPA challenge has been launched in collaboration with the Urban Future Lab (UFL) at NYU’s Tandon School of Engineering, and will advance Governor Andrew Cuomo’s clean energy and jobs agenda.
NYPA will invest US$250 million up to 2025 in order to install “a robust DC fast charging backbone infrastructure throughout the state”, so as to catalyse widespread EV adoption.
The Renault-Nissan-Mitsubishi Alliance has pledged to continue its activities including development of next-generation batteries following the sacking of the alliance’s chief.
Carlos Ghosn (pictured) was removed as chairman of Mitsubishi Motors and Nissan after his arrest in Japan over allegations of misconduct.
Last month, the alliance’s investment arm said it was stepping up its investment in fast-charge battery technology research.