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We are witnessing a generational shift towards the electrification of energy. The growth in the development of electric vehicle(EV) market is astounding. Billions in investments are pouring in to drive research and development in EV batteries, superchargers and new EV models. Here are the latest developments in the electric vehicle and battery metals markets.
1) New player, Dyson, to build electric car in Singapore
Dyson’s new automotive manufacturing facility is set for completion in 2020.
It targets the first vehicle launch in 2021.
The electric car plant is part of Dyson’s £2.5 billion (US$3.3 billion) global investment drive in new technology.
2) Mercedes-Benz breaks ground on new battery factory for electric vehicles in the US
Mercedes-Benz makes good on its previously announced $1 billion investment to bring electric vehicle manufacturing in the US – starting with breaking ground on a new battery factory in Alabama.
Mercedes plans to offer at least one electrified powertrain (hybrid, plug-in hybrid, or all-electric) in each model it makes by 2022.
US production for both the vehicle and the new batteries is not expected until “the beginning of the next decade”.
3) SK Innovation to invest US$354 million in EV battery parts plant in China
The plant will make separators for lithium-ion batteries and ceramic coating.
Construction is expected to begin early next year in the southeastern city of Changzhou, with production starting in the second half of 2020.
The decision is to keep pace with global EV battery makers’ capacity increases in China and Europe, and to cater to client demands for stable supplies.
4) China battery firms set up $700 million nickel joint venture in Indonesia
Chinese battery firm GEM Co Ltd joins several global metals producers in setting their sights on Indonesia’s nickel reserves, looking to tap an expected surge in demand for the battery metal from the electric vehicle sector.
They aim to establish nickel smelting capacity of at least 50,000 tonnes per year at Tsingshan’s industrial park in Morowali on the Indonesian island of Sulawesi.
The project will also have 4 000 t of cobalt smelting capacity.
