Global electric vehicle battery separator volume increased by 17.7% to 5.55 billion sqm in Jan-Apr YoY. The market outside China saw a 38.4% surge. Chinese firms dominate with 89.6% market share, while Korean and Japanese firms saw declines.
In the global EV battery market excluding China, Korean battery makers' combined share fell 8.5%p to 28.7% in Jan-Apr, while Chinese firms like CATL and BYD expanded their presence. LG Energy Solution saw its share drop to 16.8%.
Global electric vehicle battery usage rose 13.8% to 352.7GWh in Jan-Apr YoY. China's CATL led with 40.1% market share, while BYD and LG Energy Solution followed. SK On saw a decrease due to North American and European market slowdowns.
A BYD Denza Z9 GT EV owner revealed the replacement battery cost at 78,700 yuan ($11,600) for a 122.5 kWh LFP Blade 2.0 battery. This price is lower than a previous quote for a Denza N7's smaller battery, indicating BYD's cost control advancements.
South Korean battery maker SK On has dissolved its joint venture with Ford Motor Co., renaming the Tennessee plant "SK On Tennessee" and operating it independently. Ford will manage its own plants in Kentucky. This restructuring is expected to reduce SK On's debt by $3.6 billion.
Before joining Redwood Materials, Ahuja served as chief financial and business officer at the drone delivery startup Zipline for about three years.
Profit trajectories between automotive assemblers and electric vehicle (EV) battery producers in China are set to diverge further due to lacklustre car sales and buoyant demand for energy-storage systems. Leading players, including China’s EV battery king Contemporary Amperex Technology Ltd (CATL), would continue to attract buying interest in their shares, spurred by improved profitability, according to analysts. They added that flat vehicle prices, coupled with a dip in new car sales, had...
CATL shares fell 6.81% Tuesday after the EV battery maker announced a $5 billion private placement in Hong Kong. The placement price of HK$628.20 compared to trading at HK$627.5, with net proceeds of roughly HK$39.1 billion. Funds will support global new-energy projects, overseas expansion, production capacity and R&D. The company posted Q1 net profit of 20.7 billion yuan, up 49% year-over-year.
CATL shares fell 8.5% Tuesday after the EV battery giant announced a roughly $5 billion equity offering in Hong Kong. The private placement seeks to raise HK$39.2 billion for global new-energy projects, R&D, and corporate purposes. The move comes as CATL reported first-quarter net profit of 20.7 billion yuan, up 49% year-over-year, with HSBC maintaining buy ratings and raising price targets.
Samsung SDI and Mercedes-Benz have signed a multi-year EV battery supply deal covering future compact and midsize models, with contract value expected to exceed €5.8bn. The Korean battery maker will provide high-performance batteries using high-nickel NCM materials for Mercedes' electric SUVs and coupe models. The companies also agreed to collaborate on next-generation battery technology development. Samsung SDI's share price rose 4.9% on Monday, while Mercedes-Benz shares fell over 2%.
Samsung SDI has signed a multiyear agreement to supply EV batteries for Mercedes-Benz's next-generation vehicles. The deal, the first between the companies, was signed in Seoul with both CEOs in attendance. Samsung SDI will provide high-performance NCM batteries with high energy density, longer driving range, extended lifespan and proprietary safety technologies for Mercedes-Benz's compact and midsize electric SUVs and coupe models.
Samsung SDI has signed a multiyear agreement to supply high-performance NCM batteries for Mercedes-Benz's next-generation EVs. The deal, signed in Seoul with both CEOs present, marks the first EV battery supply partnership between the companies. Mercedes-Benz plans to use the batteries in compact and midsize electric SUVs and coupe models, with both companies also agreeing to expand cooperation in future mobility and next-generation battery technologies.
Chinese car company NIO is putting up EV battery swapping stations all around the world. NPR took a ride in one car for the experience.
