<div>
  <ul>
    <li>
      <p>
        Contemporary Amperex Technology Co Ltd (CATL), a Chinese lithium-ion battery manufacturer, will be investing USD 7.6 billion to build a 100 GWh battery plant in Debrecen, Hungary. To be located in an area of 221 hectares in the Southern Industrial Park of Debrecen, the project will supply both cells and modules to European automakers.&nbsp;
      </p>
    </li>
    <li>
      <p>
        Construction of the facility is expected to begin in 2022 with plans for completion within 5&ndash;6 years. This will be CATL&rsquo;s largest investment overseas and the largest battery cell plant in Europe. It is also the company&rsquo;s second production facility in the region, with the first, located in Thuringia, Germany, set to begin production in 2022.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         CATL&rsquo;s new Hungary production facility is strategically located in close proximity to the auto plants of some of its prominent customers; with BMW building a factory in Debrecen and Volkswagen&rsquo;s Audi brand and Mercedes-Benz already having factories in the country. It also comes at a time when EV brands such as Volkswagen, Mercedes-Benz, and Tesla are looking to Europe to secure access to batteries and battery raw materials to support their EV future.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.catl.com/en/news/983.html">
      Press release 
    </a>
  </p>
</div>


EV Economy

CATL to build Europe’s biggest battery cell plant

INCUMBENTS_PRESENT

<div>

 <p>Honda Motors has announced an investment of CAD 15 billion (~USD 11 billion), supported by joint venture partners, aimed at establishing an electric vehicle (EV) value chain in Ontario, Canada. </p>
 <p>The company's plans include the creation of an EV plant and a dedicated Honda EV battery plant in the region. The value chain will also incorporate a plant for cathode active material and precursor (CAM/pCAM) processing, in a joint venture with POSCO Future, and a separator plant, in a joint venture with Asahi Kasei Corporation.</p>
 <p>These developments are slated to start production in 2028. The capacities of these facilities will be as follows: the EV plant will be capable of producing 240,000 units annually, and the battery plant will have a capacity of 36 GWh.</p>

</div>

Honda plans to invest CAD 15 billion to create EV value chain in Canada

<div>

 <p>Toyota has announced an investment of USD 1.4 billion in its Indiana plant, aiming to assemble a new battery electric SUV in the US. The allocated funds will be utilized to acquire plant infrastructure required to construct the Battery Electric Vehicle (BEV), and to introduce a new battery pack assembly line at the facility.</p>

</div>

Toyota to invest USD 1.4 billion in EV plant to assemble electric SUV

<div>
 
 <p>Lucid Group, a Nasdaq-listed manufacturer of electric vehicles (EVs), has raised $1 billion through a series of convertible preferred stock. The private placement was secured by the company's majority shareholder, Ayar Third Investment, which is an affiliate of Saudi Arabia's Public Investment Fund. As a result, the Kingdom of Saudi Arabia now holds approximately 60% of Lucid's shares.</p>
 <p>Lucid has stated its intent to use the money raised from the public offering and private investment for several general corporate purposes. This includes funding for capital expenditures and supplying working capital.</p>
 <p>In addition, the company has plans to begin manufacturing its electric Gravity SUV within the year. In an effort to increase sales, Lucid has also cut prices on its luxury Air sedan model.</p>
 
</div>

Lucid raises USD 1 billion through stock offering and private investment

Fisker delisted from NYSE; loses deal to secure emergency funding

PROMINENT_CATEGORY

<div>
 
 <p>A European EV battery and energy storage producer, Northvolt, has started the construction of its newest battery gigafactory, Northvolt Drei, in Germany. The gigafactory is expected to have a maximum annual production capacity of 60 GWh and Northvolt plans to begin operations at the facility in 2026.</p>
 
</div>

Northvolt initiates construction of Northvolt Drei

<div>
 
 <p>NYSE-listed EV manufacturer, Fisker, has received a financial commitment of USD 150 million from an existing investor.</p>
 <p>The funding will be arranged in four parts and given by the company's 2025-dated convertible notes holder. The deal is contingent on specific conditions including Fisker's 2023 Form 10-K filing.</p>
 <p>Furthermore, Fisker is in discussions with a major automaker for a possible deal to develop and manufacture EV platforms within the US.</p>
 <p>From March 18, 2024, Fisker will halt production for six weeks to realign inventory and progress strategic and financial endeavors.</p>
 
</div>

Fisker secures USD 150 million and pauses production

ANALYST_QUICK_TAKE

<div>

<p>A Norwegian company called Vianode, which develops anode materials using synthetic graphite, has received a grant of EUR 30 million (~USD 32.6 million) from Innovation Norway under the Important Projects of Common European Interest (IPCEI) program.</p>

<p>The company plans to utilize this financial support to develop its customer qualification plant situated in Heroya, Norway. </p>

<p>Through their proprietary technology, the aim of this plant at Heroya is to set a new standard in the environmentally friendly production of anode graphite solutions. </p>

</div> <p><b>Analyst QuickTake:<br>
</b> In July 2023, the company was selected for a EUR 90 million (~USD 100.8 million) grant from the European Commission through the EU Innovation Fund. This was part of a EUR 3.6 billion (~USD 4 billion) award for 41 clean tech projects.</p>

Vianode awarded EUR 30 million grant from Innovation Norway

<div>
 
 <p>Panasonic Energy has entered into a long-term contract with H&amp;T Recharge to provide lithium-ion battery cans for Electric Vehicles (EVs) in North America.</p>
 <p>Starting their collaboration in 2017, H&amp;T was responsible for supplying Panasonic Energy's Nevada facility with an annual battery capacity of 40 GWh.</p>
 <p>The goal of this expanded partnership is to broaden H&amp;T’s supply to Panasonic Energy’s new Kansas facility, anticipated to commence operations by March 2025. H&amp;T plans to provide battery cans of an estimated annual capacity of about 30 GWh to this facility.</p>
 
</div>

Panasonic partners with H&T Recharge to expand EV battery production in North America

<div>

 <p>NIO, a Chinese EV manufacturer listed on the NYSE, has joined forces with CATL, a Chinese battery manufacturer, to create EV batteries that can withstand up to 15 years of use, a duration that doubles the present national warranty standard.</p>

 <p>In their collaboration, the companies strive to enhance battery technology that can maintain 80% of its capacity after 12 years of use. This is made possible by CATL's innovation of a self-healing Solid Electrolyte Interphase film and lithium supplements, both of which have the potential to prolong the lifespan of EV batteries. </p>

 <p>In addition, the two firms are working on making battery swap services extensively available to lessen the hefty costs associated with battery replacements.</p>

</div>

NIO partners with CATL to develop long-lasting EV batteries

<div>

<p>Blink Charging, a company listed on Nasdaq, has set up its global headquarters in a 15,000 sq ft facility in Maryland. The EV charging station developer is also planning to expand its manufacturing capabilities with the construction of a new 30,000 sq ft production facility in the same state. This new facility will serve as the main center for the company's manufacturing and production activities in North America and will come with an additional production line. Currently, Blink’s existing manufacturing facility has the capacity to produce about 15,000 EV charging units every year.</p>

</div>

All Updates