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Li-ion battery-maker Farasis Energy raises $1B+ to accelerate global automotive battery manufacturing expansion

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Farasis Energy, a global developer and manufacturer of lithium-ion cells, modules and large battery systems, recently completed C-round financing exceeding 1 Billion US dollars. The compay will use the capital raised to accelerate the expansion of its global automotive battery manufacturing infrastructure.

Li-ion 239
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Daimler Truck and CATL expand global partnership on truck-focused batteries and supply

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Daimler Truck AG and lithium-ion battery manufacturer and developer Contemporary Amperex Technology Co. In 2019, Daimler Truck AG and CATL entered into a global lithium-ion battery cell modules supply agreement for electric series trucks including the Mercedes-Benz eActros, the Freightliner eCascadia and eM2.

Global 435
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ICCT report finds US domestic EV production and investment continues to fall; only 5% of global EV investment to go to US EV assembly plants

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The ICCT study finds that the United States’ share of cumulative global EV production decreased from 20% to 18% since 2010 and only 15% of the approximately $345 billion in global automaker EV investments are flowing to the US. Similarly, European manufacturing accounted for 25% of global EVs through 2020, up from 23% in 2017.

Global 397
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Volume production of Tesla Model 3 pushed back to late Q1 2018; battery module problems; record loss in Q3 2017

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In its third-quarter 2017 financial results update, Tesla Motors reported that it is delaying its expected start of volume production—defined here as 5,000 Model 3 vehicles per week—to “late Q1 2018”. The company was earlier targeting that milestone for “some time in 2017”. The company posted a Q3 2017 loss of $619.4

2017 170
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GlobalData: growing global electric vehicle market will more than double lithium demand over the next 5 years

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Data and analytics company GlobalData forecasts that the demand for lithium needed for the production of lithium-ion batteries for use in EVs will more than double from 26.7kt in 2018 to 58.3kt in 2022. According to GlobalData, the global EV market is expected to grow at a substantial CAGR of 15.6% In 2017, 1.1 In 2017, 1.1

Global 284
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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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BNEF predicts that lithium-ion battery prices, already down by nearly 80% per megawatt-hour since 2010, will continue to tumble as electric vehicle manufacturing builds up through the 2020s. —Seb Henbest, head of Europe, Middle East and Africa for BNEF and lead author of NEO 2018. NEO 2018 sees $11.5

Wind 220
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POSCO begins construction of S Korea’s first lithium hydroxide plant

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We will enhance our global competitiveness in lithium and other mineral resources and contribute to the development of domestic industries, including the secondary battery sector, by leading the localization of materials. The subsequent production of lithium hydroxide will take place in South Korea.

Argentina 369