by Christian | Oct 12, 2023 | Offtake & Supply Agreement
On the 7th of October, CATL and Neta Auto signed an agreement of strategic cooperation. This includes a partnership for Neta to use CATL’s Shenxing 4C Superchargeable lithium iron phosphate (LFP) batteries. The announcement aligns with a long list of collaboration between CATL and Neta, starting 2018 with the release of Neta’s inaugural car.
Another User of Shenxing Batteries
CATL has signed a supply agreement for its Shenxing batteries to Neta Auto. Neta will install the Shengxing battery in its new EV models. Initially released in August, CATL views the Shenxing as one of its next generation batteries. With LFP chemistry, it can be charged to an 80% capacity in 10 minutes and has a 700km range. CATL has indicated it has improved lithium-ion extraction speeds, improved lithium-ion adhesion efficiency and a new ultra-high conductive electrolyte formula. Along with a new electrolyte formula, the Shenxing battery is equipped with a coating separator adding an extra level of safety. When the Shenxing battery was unveiled in August, Avita Motors, a joint venture between Changan Automobile, Huawei, and CATL, confirmed it would use it.
Strong Connections to CATL
Neta Auto’s parent company, Hozon New Energy Vehicle, was established in 2014, it founded Neta in 2018. Neta’s initial sale figured remained low, however in 2022 its sales surged to 150,000. In August this year, it delivered 12,100 vehicle sales. Neta and CATL’s relationship began with a partnership after the release its first car, the N01. Similarly, in 2020 the pair signed a strategic partnership, deepening their cooperation in battery technology. Consequently, in 2021 CATL participated in a Neta financing round. Additionally, this year Neta signed an agreement with CATL’s subsidiary, Intelligent Technology, to produce CATL Integrated Intelligent Chassis (CIIC). Moreover, CATL’s Qilin battery will be installed in Neta’s new S model.
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by Helen | Jun 27, 2023 | Offtake & Supply Agreement
General Motors (GM) has entered into an agreement with Australian materials company Element 25 to secure a supply of up to 32,500 metric tons of high-grade manganese sulphate annually over a period of seven years. The manganese sulphate will be sourced from Element 25’s Butcherbird mine in Western Australia. In return, GM will provide Element 25 with an $85 million loan to partially fund the construction of a new facility in Louisiana. This facility, the first of its kind in the United States, will process manganese concentrate from Element 25’s Australian mining operations and produce battery-grade manganese sulphate. Construction of the 230,000 square-foot facility is expected to begin in the third quarter of 2023, with operations to commence by 2025.
Along with its joint venture partners, GM is investing in the installation of…
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by Louis | Feb 1, 2023 | Battery Chemistry & Production, Offtake & Supply Agreement
South Korean companies POSCO Chemicals Company and Samsung SDI have agreed a localised supply agreement for key materials used in EV batteries. The USD32.6 billion deal will see POSCO supplying NCA cathodes to Samsung SDI from later this year up to 2032. The new supply agreement is the largest that POSCO has entered to date, both in terms of time and value, and is also the first deal between the two companies.
POSCO Chemicals is planning to increase its production capacity in the near future with the completion of…
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by Louis | Aug 26, 2022 | Battery Chemistry & Production, Offtake & Supply Agreement
German auto manufacturers Mercedes-Benz and Volkswagen have signed memorandums of understanding with the Canadian federal government to secure access to the country’s large reserves of raw materials. The agreements will open opportunities to capitalise on lithium, nickel, cobalt and other mineral deposits needed for electric vehicle battery production located predominantly in northern parts of Ontario and Quebec.
Volkswagen is targeting collaboration between the Canadian mining sector and its newly formed battery company PowerCo with a focus on…
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Image Credit: Mercedes-Benz
