Electric Vehicle Battery News

Recent industry report about Electric Vehicle Battery company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Electric Vehicle Battery Market industry experts.

Electric Vehicle Battery News

  • In February 2023, CATL will collaborate with Ford on a USD 3.5 billion battery plant of electric vehicles in the USA's Michigan. As a part of the development, Ford will own the new facility of CATL instead of operating the same as a joint venture. CATL will also help Ford to expedite the development of batteries.
  • In November 2022, Clarios'sOptima launched an all-new lithium-power sport battery line with a focus on facilitating batteries to motorcycles, personal watercraft, snowmobiles, utility task vehicles (UTV), and all-terrain vehicle (ATV)
  • In August 2022, Honda Motor Company announced the development of a lithium-ion battery plant for electric vehicles in the United States with Korean battery supplier LG Energy Solution Ltd for a USD 4.4 billion investment. As part of the partnership, the companies aim to produce approximately 40 GWh of batteries annually for use exclusively in North America's Honda and Acura electric vehicles.
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  • June 2022: Foxconn started construction for its first battery cell production plant in Kaohsiung. The trail production at the plant is expected to begin in Q1 2024.
  • July 2022: Fluence signed a deal for its third battery energy storage system (BESS) project in Taiwan. The capacity of the project is 100 MW.
  • June 2022: Thailand's Investment Agency approved a joint venture worth USD 1.04 billion between Taiwan's Foxconn and Thailand's PTT to manufacture EV batteries. This project will support the EV industry in building Southeast Asia's EV manufacturing hub.
  • May 2022: Indonesia signed a deal with Tesla to build its first EV battery production facility in Central Java. Hyundai Motors and South Korea's LG Energy Solution have started construction on the plant and are anticipated to begin mass production of battery cells by 2024.
  • February 2022: Panasonic announced that its Energy Company is likely to produce 4680 type cylindrical lithium-ion batteries in Japan in order to expand its business globally. The company is likely to establish a production facility at its Wakayama Factory in western Japan to manufacture 4680-type battery cells.
  • November 2022: Eurus Energy Holdings Corp announced that the company established a grid storage battery business and started construction of a 1.5-MW/4.58-MWh project in the Fukuoka prefecture.
  • September 2022: CellCube, the subsidiary of Austria-headquartered technology provider Enerox, formed an R&D partnership in Australia in anticipation of establishing a presence in the country's long-duration energy storage market. The companies will work together to integrate CellCube vanadium redox flow batteries (VRFBs) to help meet the power demand for 24/7 low-carbon energy in Australia, starting with a pilot project deployment of a 2 MW/8 MWh VRFB system.
  • November 2022: Tdafoq Energy of Riyadh, Saudi Arabia, announced that the company had signed a distribution and manufacturing license with the Indian-based group Delectrik Systems. Under this agreement, Tdafoq Energy will sell vanadium redox flow battery products made in India by Delectrik in the Gulf countries of Kuwait, Bahrain, Oman, Saudi Arabia, Qatar, and the United Arab Emirates (UAE). Tdafoq has also announced plans to set up a local flow battery manufacturing plant in Saudi Arabia, which will serve the Gulf region. By 2025, the Saudi Arabian plant will be able to make GWh of electricity.
  • October 2022: KarmSolar has secured USD 2.4 million in bank financing for a solar-plus-storage project in Egypt. The funds will be used for Phase 2 expansion of the company's existing solar microgrid system for Cairo 3A Poultry's farm in the Bahareya Oasis in Giza, Egypt. The energy storage system will comprise a 2.576MWp PV inverter and 1MW/3.957MWh storage.
  • In July 2021, Burns & McDonnell completed the construction of Vistra's 100-MW/400-MWh battery energy storage system expansion at its Moss Landing Energy Storage Facility in California. The battery system stores power and releases it to California's grid when needed.
  • In October 2021, Samsung SDI and Stellantis NV announced that the companies had entered a memorandum of understanding (MOU) to form a joint venture (JV) to make battery cells and modules for North America. The plant is aiming to achieve an initial annual production capacity of 23 gigawatt-hours, with the ability to expand up to 40-gigawatt hours in the future.

In October 2022, Panasonic decided to produce 30 GWh of battery cells during the first phase of its new Kansas factory, expected to supply Tesla's vehicle production. The construction of the factory was expected to begin in November 2022.

In December 2021, SK Innovation started using pouch cells in the lithium iron phosphate (LFP) battery. The battery spinoff from SK Innovation is anticipated to start commercial production of a pouch-type LFP battery for electric vehicles during the second half of 2022.

  • In July 2021, Contemporary Amperex Technology Co. Limited (CATL) unveiled the company's first-generation sodium-ion battery, together with its AB battery pack solution, which can integrate sodium-ion cells and lithium-ion cells into one pack. The company stated that sodium-ion batteries will provide a new solution for the use of clean energy and transportation electrification.
  • In April 2021, researchers at IIT Hyderabad, India, developed a 5V dual carbon battery utilizing self-standing carbon fiber mats as both electrodes (cathode and anode). This new model sets aside the requirement for toxic, costly, and heavy transitional metals.

In October 2021, Samsung SDI and Stellantis NV announced that the companies had entered a memorandum of understanding (MOU) to form a joint venture (JV) to make battery cells and modules for North America. The work is targeted to start in 2025. The plant aims to achieve an initial annual production capacity of 23 gigawatt-hours, with the ability to expand up to 40-gigawatt hours in the future.

In June 2021, the Chhattisgarh State Renewable Energy Development Agency (CREDA) invited bids for a tender to procure 15,000 low-maintenance lead-acid batteries with a five-year on-site warranty, to be used in solar applications of different capacities. The contract was estimated to be around USD 1.37 million.

Electric Vehicle Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)