by Alicia Bennett | Mar 21, 2023 | Joint Venture & Acquisition
Chinese battery manufacturer Gotion High-Tech and Japanese energy storage developer Edison Power Co. have announced a strategic cooperation agreement to jointly tap into the energy storage market in Japan. According to a press release from the Chinese battery maker, the agreement was signed to develop the Japanese energy storage and battery recycling market and promote Gotion’s products in the Japanese market. The two companies are targeting 1GWh of sales in the first year of their partnership, rising to 2GWh per year after the second year and beyond. Under the agreement, Gotion will provide its LFP cells, modules, and BMS, while Edison will be responsible for Japanese energy storage customer management, EPC services, and energy storage system operation and maintenance. Notably, Gotion said it will also work to provide a battery recycling facility in Japan for recycled energy storage batteries. If completed, the facility will…
The full article is available to Rho Motion Members on the Membership Platform. If you are not a Member and would like to find out more, click here.
by Louis | Mar 17, 2023 | Battery Chemistry & Production, OEM Strategy & EV Market
German carmaking giant Volkswagen has announced it intends to invest in battery raw material mines in order to reduce the costs of EV batteries produced by its in-house battery unit PowerCo. The strategy is intended to help meet half of the company’s own raw materials demand, as well as enable the supply of materials and batteries to other players in the market. PowerCo already has an agreement in place with Ford to supply batteries for the American company which is planning 1.2 million EVs to be manufacture in Europe using VW’s MEB platform. Despite having not yet reached mass-production scale, PowerCo is targeting…
The full article is available to Rho Motion Members on the Membership Platform. If you are not a Member and would like to find out more, click here.
Image credit: Adobe Stock
by Alicia Bennett | Mar 9, 2023 | Battery Chemistry & Production
German car manufacturer Volkswagen is reportedly considering prioritising the US over Europe as its next location for a battery production facility. The primary reason for the strategic reassessment lies in the potential subsidies and benefits the company may receive as part of the Inflation Reduction Act (IRA) and other federal policies offered by the Biden administration, which Volkswagen estimates may reach up to EUR10 billion (USD10.5 billion). The aggressive financial incentives in the US are likely to attract more European battery business across the Atlantic, with the industry expecting a relatively swift response from the EU and European Commission (EC) in the form of a competitive financial package. As Europe’s largest carmaker by volume, Volkswagen has previously stated…
The full article is available to Rho Motion Members on the Membership Platform. If you are not a Member and would like to find out more, click here.
Image credit: Adobe Stock
by Alicia Bennett | Mar 6, 2023 | Joint Venture & Acquisition
Chinese battery manufacturer Farasis Energy has announced it will begin supplying sodium-ion battery packs to Renault majority-owned Jiangling Motors Electric Vehicle (JMEV). The packs are expected to be used in the company’s small EV model the EV3. Farasis Energy released plans for a new lithium-ion gigafactory to be built in Jiangzi province, China, in August 2022 with an eventual annual production capacity target of 30GWh. Recently, the company announced that some of the production lines have been converted for the production of sodium-ion batteries, which has reportedly enabled mass production of the sodium-ion powered EV3 before the 30 June 2023.
The full article is available to Rho Motion Members on the Membership Platform. If you are not a Member and would like to find out more, click here.
by Alicia Bennett | Mar 2, 2023 | OEM Strategy & EV Market
Tesla has confirmed that it will build a Gigafactory in Mexico. The announcement was made by the company’s CEO Elon Musk on Wednesday 1 March 2023 during Tesla’s Investor Day event. The plant will be located in Nuevo Leon near the city of Monterrey, a northern Mexican state bordering Texas and strategically located near the company’s headquarters in Austin, Texas. Tesla’s next-generation vehicle will be manufactured at the facility, reportedly valued at USD5 billion, and will provide around 6,000 jobs. Further details on the new model, the plant’s production capacity and specific investment amounts are yet to be released. This is the first official announcement on the plant, with the Mexican president Andres Manuel Lopez Obrador confirming Tesla’s future presence in the country after a phone call with Musk on Tuesday 28 February 2023.
The full article is available to Rho Motion Members on the Membership Platform. If you are not a Member and would like to find out more, click here.
Image credit: Adobe Stock
