Pakistan Lithium-ion Battery News

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• February 2024: Singapore's ST Engineering unveiled the Terrex s5, an infantry fighting vehicle it touts as the world's pioneering hybrid-electric 35-ton armored vehicle. The vehicle boasts a standard 711 horsepower output and a 1,000-kilometer range. However, with the optional hybrid range extender, featuring a lithium-ion battery, the Terrex s5 can surge to 1,200 horsepower and offers a stealthy 50-kilometer range, as detailed in the company's fact sheet.
• September 2023: With the government intensifying its eco-friendly endeavors in the automotive sector, the Malaysian Automotive Association (MAA) was advocating for Budget 2024 to extend incentives to all types of electrified vehicles (xEVs), not just limited to electric vehicles (EVs). This move aims to bolster the adoption of xEVs across Malaysia. Malaysia has set ambitious targets, eyeing a 15% share of electrified vehicles in the total industry volume (TIV) by 2030, escalating to 38% by 2040. In a bid to further propel EV adoption, the government has declared that EVs in Malaysia will be exempt from road tax until December 31, 2025.

• November 2023: SK On Co., an electric vehicle battery maker, and BASF SE, a battery materials producer, collaborated to develop industry-leading battery materials for lithium-ion batteries in North America and the Asia-Pacific. The companies intended to improve long-term competitiveness amid slowing growth in the eco-friendly automobile industry.
• June 2023: Japan created a solid-air battery that can be recharged. Researchers have shown an all-solid-state rechargeable air battery made of a proton-conductive polymer electrolyte and a redox-active organic negative electrode. These batteries function well in the vicinity of their theoretical maximum capacity.

• May 2024: China plans to invest approximately 6 billion yuan (USD 845 million) in advancing next-generation battery technologies for electric vehicles (EVs). The country is planning to support six companies, including CATL, BYD, and Geely, to pioneer the development of all-solid-state batteries (ASSBs). Notably, EV battery manufacturer CATL stands out as a key recipient of government support for its next-generation technology initiatives.
• July 2024: Chinese researchers unveiled a solid-state lithium battery, achieving performance levels comparable to leading next-gen battery contenders, yet costing under 10% of their price. This advancement aligns with China's strategic plan to spearhead the future of rechargeable battery technology, a shift poised to transform the electric vehicle landscape. By substituting the liquid electrolytes found in traditional lithium batteries with a solid-state variant, the potential emerges for quicker charging, enhanced performance, and heightened safety standards.

• March 2024: the European Union signed a deal with Norway to develop sustainable land-based raw materials and battery value chains with a capital investment of USD 26 million. The strategic partnership on battery materials is likely to develop a comprehensive framework for long-term cooperation in five areas, from the battery supply chain for EVs.
• January 2024: EIT InnoEnergy and Demeter Investment Managers announced the launch of a fund dedicated to developing a resilient and diverse battery raw material supply chain in Europe. With a target size of EUR 500 million (USD 544.5 million), the EBA Strategic Battery Materials Fund is building to boost domestic capacities for EV battery materials such as lithium, nickel, cobalt, manganese, and graphite.

• January 2024: EIT InnoEnergy and Demeter Investment Managers announced the launch of a fund dedicated to developing a resilient and diverse battery raw material supply chain in Europe. With a target size of EUR 500 million (USD 544.5 million), the EBA Strategic Battery Materials Fund is building to boost domestic capacities for EV battery materials such as lithium, nickel, cobalt, manganese, and graphite.
• September 2023: XTC New Energy Materials, a Chinese lithium-ion battery material supplier, is likely to build a CNY4 billion (USD542 million) ternary lithium-ion battery cathode material plant for EVs in France with local nuclear power producer Orano. The companies have set up a joint venture with a registered capital of EUR 20 million (USD 21.1 million) that is expected to be responsible for the construction and operation of the plant.

• July 2024: Group 14, a Next-gen battery materials manufacturer, signed a deal with CustomCells, a German battery cell company, to purchase USD 300 million worth of Group 14’s silicon anode product. CustomCells is likely to incorporate Group14’s product into its battery cells to enhance battery performance for electric vehicles, aviation, and “e-mobility.
• January 2024: EIT InnoEnergy and Demeter Investment Managers announced the launch of a fund dedicated to developing a resilient and diverse battery raw material supply chain in Europe. With a target size of EUR 500 million (USD 544.5 million), the EBA Strategic Battery Materials Fund is building to boost domestic capacities for EV battery materials such as lithium, nickel, cobalt, manganese, and graphite.

• February 2024: Hindalco Industries planned to invest INR 800 crore (~USD 96.4 million) to build a new aluminum foil plant near Sambalpur in Odisha, India. The facility aims to produce high-quality battery foil for the rapidly growing electric vehicle and energy storage system markets.
• January 2024: Indian companies such as Aether Industries, Himadri Speciality Chemicals, and Tata Chemicals invested in lithium-ion battery production. Aether Industries has recently announced a strategic agreement with a global lithium-ion battery producer to expand into the electrolyte additives market. This agreement includes the commercial supply of one electrolyte additive, and discussions have begun to develop three additional products. Himadri Speciality Chemicals is also planning to establish a manufacturing facility for lithium-ion battery components with a total capacity of 2 lakh tonnes per annum. Ami Organics has signed a non-binding MoU with a global manufacturer of electrolytes. The company is also set to sign an MoU with the Gujarat government to set up a dedicated manufacturing facility at a cost of around USD 36 million.

• April 2024: Ferrari unveiled a new laboratory to research lithium battery cells, to produce its first full-electric supercar by the end of 2025. The facility, led by the University of Bologna, will focus on analyzing solid states, fast charging, thermal charging, and cell safety and performance.
• January 2024: EIT InnoEnergy and Demeter Investment Managers announced the launch of a fund dedicated to developing a resilient and diverse battery raw material supply chain in Europe. With a target size of EUR 500 million (USD 544.5 million), the EBA Strategic Battery Materials Fund is building to boost domestic capacities for EV battery materials such as lithium, nickel, cobalt, manganese, and graphite.

• June 2024: The Moroccan government announced that China's Gotion High will spearhead the construction of Morocco's inaugural EV battery gigafactory, with a price tag of USD 1.3 billion. Gotion High Tech's move underscores a broader trend, as Morocco, eyeing the surge in electric vehicle demand, is attracting a slew of investments in EV battery production. The investment pact inked between the Moroccan government and Gotion High Tech outlines the gigafactory's initial capacity at 20 gigawatt-hours (GWh).
• January 2024: South Africa's Aqora has rebranded itself as Afrivolt. Afrivolt's strategic pivot involves establishing a lithium-ion cell gigafactory in South Africa. The facility aims to craft anodes, cathodes, and lithium-ion batteries, initially targeting stationary storage applications and, later, electric vehicles (EVs).

• April 2024: Syensqo initiated the construction of its cutting-edge battery-grade polyvinylidene fluoride (PVDF) facility in Augusta, Georgia. Upon completion, this site will stand as the largest PVDF production facility in North America, catering to the escalating demands of the domestic energy storage markets. Representing a pivotal step in Syensqo's global electrification blueprint, this facility is poised to play a crucial role in producing the essential battery materials that are instrumental in driving widespread electrification and the adoption of electric vehicles (EVs). PVDF, a thermoplastic fluoropolymer, finds its application as a lithium-ion binder and separator coating in batteries.
• September 2023: Umicore, in collaboration with AESC, a prominent player in high-performance battery development for EVs and energy storage, inked a decade-long deal. Under this agreement, Umicore will be the key supplier of high-nickel battery materials for EV battery production at AESC's US manufacturing plants. This strategic partnership not only bolsters AESC's regional growth aspirations but also ensures a steady supply of these crucial, sustainably sourced materials. For Umicore, this deal not only secures a significant portion of the North American EV battery material demand but also diversifies its ties within the EV value chain.