Yazılar

French Battery Maker ACC Welcomes EU Auto Sector Support, but Expresses Concern Over Timeliness

/in /tarafından

Automotive Cells Company (ACC), a French battery manufacturer, expressed its support for the European Union’s action plan to bolster the auto sector, but also voiced concerns that the measures may arrive too late to address current challenges.

The European Commission recently introduced an action plan aimed at helping the auto industry achieve zero carbon emissions from cars and vans by 2035. A key element of this plan is the allocation of 1.8 billion euros ($1.94 billion) to help secure the supply chains for battery raw materials.

While ACC, a joint venture between Stellantis, Mercedes, and TotalEnergies, welcomed the medium-term support outlined in the plan, the company raised concerns about the urgency of the situation. In a LinkedIn post, ACC noted, “Nevertheless, we fear that the urgency of the situation we are currently going through is not being considered. To benefit from it, we will have to have managed to survive until then.”

ACC has been forced to scale back its battery production ambitions amid uncertainties surrounding electric vehicle demand in Europe and the rise of more affordable battery technologies. The company initially planned to build nine production blocks by 2030 across France, Germany, and Italy, supported by a 7.3 billion euro investment. However, the projects in Germany and Italy have been put on hold, and currently, only one block in France is operational, producing batteries for Stellantis. A second block is expected to begin operations by the end of the year.

CATL Resumes Operations at Jiangxi Lithium Mine, UBS Reports

/in /tarafından

Chinese battery giant CATL (300750.SZ) is resuming production at its lithium lepidolite mine in Jiangxi province, according to a note from UBS published on Thursday. This comes four months after earlier reports of the mine’s closure sparked a surge in lithium mining stock prices.

UBS’s report indicates that mining operations have “currently resumed,” based on information from Shanghai Metals Market (SMM), though further details were not disclosed. UBS declined to comment further, and CATL did not immediately respond to Reuters’ request for more information.

Two anonymous battery metals traders confirmed that mining activities had indeed restarted at the Jiangxi mine. CATL’s mine in the southern province of Jiangxi has been an important contributor to China’s growing lithium supply, which is essential for the global battery market. When the mine was reportedly closed in September, lithium stocks saw a significant rally.

In response to queries, CATL had previously stated that it adjusted its lithium production in the Yichun area of Jiangxi province. Lepidolite mining is known to be more expensive than extracting lithium from brine, but UBS analysts believe the resumption is driven by low inventories and CATL’s ability to reduce costs by mixing production from this site with higher-grade ores.

On Friday, the most-traded November lithium carbonate futures contract on the Guangzhou Futures Exchange closed at 77,800 yuan ($10,675.81) per metric ton, showing a modest 0.3% increase from the previous day. However, prices are still down by 4.75% from a recent high reached on January 20. CATL’s share price closed at 261.28 yuan per share on Friday, marking a 3.2% increase from Thursday.

Toyota to Launch Wholly Owned EV and Battery Unit in China

/in /tarafından

Toyota Motor announced on Wednesday that it will establish a wholly owned company in Shanghai to develop and manufacture electric vehicles (EVs) and batteries for its Lexus brand. Production is expected to begin in 2027, with an initial production capacity of approximately 100,000 units annually. The new facility will also create about 1,000 jobs in its start-up phase.

The new venture will focus on creating a Lexus-branded electric vehicle and developing battery technology for these vehicles. In addition, Toyota has stated that it will collaborate with the Shanghai municipal government on carbon-neutral initiatives, contributing to China’s goal of achieving carbon neutrality by 2060.