Digitimes - January 12, 2022

With the electric vehicle (EV) market continuing to grow, carmakers in Europe and the US have been building battery plants or partnering ...

. According to Northvolt, the plant would produce lithium hydroxide for 50 GWh of battery production annually, sufficient for about 700,000

With the electric vehicle (EV) market continuing to grow, carmakers in Europe and the US have been building battery plants or partnering with battery manufacturers domestically. The shared goal is clear - becoming self-sufficient in electric vehicle batteries to fulfill the future demand for EVs…Companies in East Asia, especially China, controls most of the battery supply chain. According to AFP, more than 40% of global lithium production and close to 60% of lithium refining capacity are held by China. The situation has alarmed Western countries and made them actively build their own supply chains…Before the end of 2021, Northvolt, a Swedish battery company Volkswagen invests in, announced that it had produced the first battery designed, developed, and assembled in Europe…The company expected to increase the production in Sweden to 60GWh each year, according to a press release…Ramping up battery capacity has officially become EU's goal. According to Deutsche Welle, Maros Sefcovic, EU Commission VP, said EU should be able to provide vehicle makers with domestically produced EV batteries by 2025. He also said the EU is set to become the second-largest battery manufacturer globally…Volkswagen plans to build six battery cell factories in Europe by 2030, with one in Salzgitter, Germany, producing 20 GWh initially in 2025…At least 13 battery plants coming to the US…The battery supply chain Volkswagen has built does not only exist in Europe but also in America. The US Department of Energy recently released that 13 battery plants will be set up in the country by 2025, with a VW's factory in Chattanooga, Tennessee. General Motors, collaborating with LG Chem and LG Energy Solution respectively, will open plants in several locations, including Lordstown, Ohio, and Spring Hill, Tennessee…Stellantis has teamed up with LG Energy Solution and Samsung SDI separately to build two plants. Toyota will set up a factory in Greensboro, North Carolina. Ford, who has said it will establish a JV with SK Innovation for battery production, plans to build factories in Memphis, Tennessee, and central Kentucky. SK Innovation will also build two plants in Atlanta, Georgia.

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Fortune Minerals Limited published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 14:41:02 UTC.