Asian carmakers announce series of electric vehicle investments

Asian carmakers announce series of electric vehicle investments

 

Asian carmakers have made a series of new investments in electric vehicle battery production. Japanese car manufacturer Toyota recently announced an investment of USD5.3 billion for new battery production plants in Japan, including its joint venture with Tesla supplier Panasonic, and in North Carolina, US. The world’s largest carmaker plans to begin production in the two regions between 2024 and 2026, with the aim of increasing total battery production by 40GWh.

South Korean battery company LG Energy Solution and Japanese carmaker Honda have also announced a USD4.4 billion investment to build a battery production plant in the US, with the location yet to be disclosed. Construction is set to begin in 2023, with mass production of lithium-ion batteries expected to begin by the end of 2025. Earlier this year…

 

 

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Volvo Group starts process to establish plant for battery production in Sweden

Volvo Group starts process to establish plant for battery production in Sweden

The Volvo Group has begun the process to establish a large-scale production plant for battery cells in Sweden. The new facility is likely to be located in the municipality of Mariestad and will utilise existing industrial and logistical infrastructure in the Skaraborg region.  The proposed site is near the Volvo Group’s current main powertrain plant in Skövde and its R&D centres located just two hours away in Gothenburg. Battery cells from the plant will be designed for commercial vehicle applications such as electric trucks, buses and construction equipment, and production will benefit from Sweden’s extensive supply of clean energy. The project is still subject to public consultation and environmental permit approvals from relevant authorities.

President and CEO of the Volvo Group Martin Lundstedt said…

 

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Volkswagen breaks ground on its new Salzgitter factory, launching new business PowerCo to oversee battery activities

Volkswagen has held a ground breaking event for its first home-grown battery factory in Salzgitter. The event, at the historic VW engine manufacturing facility, featured addresses from Thomas Schmall, Group CEO Herbert Diess, German Chancellor Olaf Scholz as well as the CEO of the new business unit ‘PowerCo’ Frank Blome. PowerCo will oversee the battery manufacturing activities of the Volkswagen group going forwards, firstly with the Gigafactory in Salzgitter. The factory will be comprised of two identical buildings each scaling to 22 million cells and 24GWh per year, SOP is scheduled for 2025.

Beyond Salzgitter, the 5 additional battery factories in Europe announced at VW Power Day last year will be the next challenge for PowerCo, before expansion around the world, with Herbert Diess expressly mentioning the desire for a battery facility in the US. VW has already introduced the unified prismatic cell concept which will power 80% of the groups EVs. It is now also introducing the Standard Factory concept they hope will allow the most efficient scaling and learning opportunities. This will include moving upstream to standardise and supply its own equipment. In addition…

 

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Honda and Sony confirm Joint Venture to produce electric vehicles

Honda and Sony have now confirmed they are entering into a Joint Venture (JV) to produce electric vehicles. The pair plan to utilise Honda’s long-standing expertise in the vehicle development and manufacturing arena, alongside its mobility safety and after-sales service management capabilities. This, combined with primarily technological developments from Sony, is intended to allow the pair to “engage in the sale of high-value-added electric vehicles”.

Aiming for the more premium end of the EV spectrum is a common theme among OEMs and, with Honda’s current base of affordable mass market cars, this JV may be needed to target…

 

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Volvo invests in fast charging technology company StoreDot

Volvo Cars has made an investment in StoreDot, an Israeli company developing ultra-fast charging battery technology for electric cars, through the Volvo Cars Tech Fund, its venture capital arm, according to a press release from the company.

StoreDot is developing a silicon dominant anode and related software integration technology that it claims should result in…

 

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Stellantis and LG Energy Solution sign joint venture to build first world scale battery plant in Canada

Stellantis and LG Energy Solution have committed in excess of CAD5 Bn (USD4 Bn) to build a 45 GWh battery production facility in Ontario, Canada. The joint venture company will produce leading edge lithium-ion battery cells and modules to meet a significant portion of Stellantis’ vehicle production requirements in North America. Plant construction activities are scheduled to begin later this year with production operations planned to launch in…

 

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