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T&E: two-thirds of European battery production at risk as companies weigh investing in US instead

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More than two-thirds (68%) of lithium-ion battery production planned for Europe is at risk of being delayed, scaled down or cancelled, according to new analysis by the European NGO Transport & Environment. Battery production capacity equivalent to 18 million electric cars—1.2 Europe must act or risk losing it all.

Companies 430
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Top 10 EV battery manufacturers all Asian companies; China accounts for 56% of market, Korea 26% and Japan 10%

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The top 10 global producers of Li-ion batteries for electric vehicles are all Asian companies, according to an analysis posted on the Visual Capitalist. Chinese companies make up 56% of the EV battery market, followed by Korean companies (26%) and Japanese manufacturers (10%).

Li-ion 458
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TEPCO and Toyota develop stationary storage battery system using EV batteries

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Tokyo Electric Power Company Holdings, Inc. TEPCO HD) and Toyota Motor Corporation (Toyota) have developed a stationary storage battery system (1 MW output, 3 MWh capacity) that combines TEPCO’s operating technology and safety standards for stationary storage batteries and Toyota’s system technology for electrified vehicle storage batteries.

Toyota 416
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Solid-state battery company Quantumscape to list on NYSE; $3.3B valuation

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QuantumScape Corporation, a developer of next generation solid-state lithium-metal batteries for use in electric vehicles, and Kensington Capital Acquisition Corp., a special purpose acquisition company (SPAC), announced a definitive agreement for a business combination that would result in QuantumScape becoming a publicly listed company.

Companies 468
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ProLogium to build €5.2B gigafactory for solid-state batteries in France

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Taiwan-based ProLogium has chosen France as the location for its first large-scale solid-state battery manufacturing facility outside of Taiwan. This major investment project aims to facilitate supply chain localization, R&D activities, and the manufacturing of next-generation batteries in Europe for ProLogium.

France 540
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Magna to supply battery enclosures for Silverado EV

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Magna has secured new business from General Motors (GM) to supply battery enclosures on the all-new 2024 Chevrolet Silverado EV. The company will produce the enclosures at its Magna Electric Vehicle Structures facility in St. Clair, Michigan, where it already produces the battery enclosure for the GMC HUMMER EV.

Silverado 435
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GM invests in battery recycling company Lithion

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GM Ventures, the automaker’s investment arm, has made a strategic investment in Lithion Recycling’s Series A financing round, supporting a new GM-Lithion strategic partnership agreement to pursue a circular battery ecosystem using Lithion’s advanced battery recycling technology.

GM 218