Latest news with #batterymanufacturing
Bloomberg
10-07-2025
- Business
- Bloomberg
BYD, Other EV Battery Makers Face More Pressure to Cut Emissions
Electric vehicle battery suppliers, including BYD Co. and EVE Energy Co., need to step up efforts to switch to clean power at manufacturing sites and curb emissions in supply chains, according to environmental group Greenpeace. The nonprofit's review of action on emissions in the sector found seven out of 10 major lithium-ion battery producers lacked clear targets for progress in at least one of two key areas — adoption of renewables and the climate footprint of their suppliers.
Yahoo
07-07-2025
- Automotive
- Yahoo
France's Verkor calls for 'local for local' after Northvolt collapse
The EU must increase its support for electric vehicle battery manufacturers as the bloc's capabilities trail behind those of other global powers, Benoit Lemaignan, CEO of Verkor, told Euronews. 'We are not protected against unfair competition coming from outside the bloc,' he said. 'If you want to sell batteries in Europe, you should localise. If you don't, you should have a mechanism like a border tax to create a level playing field,' he added. Founded in 2020 and now counting around 1000 employees, Verkor is focused on EV battery cell manufacturing and module assembly. Late last year, the firm secured over €2 billion to finance a gigafactory in Dunkirk, with funds provided by the French state, the European Investment Bank, Renault, and Macquarie — among others. The Grenoble-headquartered firm is seeking to prise market share away from competitors, notably seeking to boost homegrown capacity. According to the International Energy Agency (IEA), South Korean firms contribute most heavily to Europe's EV battery manufacturing capacity, with companies like LG Energy Solution, Samsung SDI, and SK On remaining major players. IEA data shows that Korea-headquartered companies make up 74% of Europe's capacity. That's compared to around 14% for domestically-headquartered firms. Chinese EV makers, meanwhile, represent 12% of capacity, with CATL standing out as an industry giant. While these figures count capacity located in Europe, even if it includes non-European-headquartered firms, over 20% of the region's EV battery demand is also met by imported products. Lemaignan said this should be an incentive for Europe to double down on efforts to compete with foreign suppliers. 'There was a lot of hype in 2021 and 2022 and people probably forgot to realise that it takes time to create an industry,' Lemaignan explained. 'We forgot that the Koreans started 30 years ago and the Chinese started 15 years ago…we are in the moment where we need to keep the engagement.' When it comes to overseas firms making products outside of Europe and selling into the market, Lemaignan argued that these competitors are not subject to the same environmental and labour standards, giving them an unfair advantage. On the other hand, when asked about firms with European plants that are headquartered outside the region, he said: 'If you are subsidised by a foreign country, for example the US, and you want to be acting in the European market, you need to respect rules and disclose subsidies so as to not tweak the market.' One of the EU's major instruments against unfair competition is the Foreign Subsidies Regulation (FSR). This legal mechanism means the Commission can investigate firms operating in the bloc that have received financial contributions from non-EU countries. Related Volvo Cars CEO: dual tech for China and the West is new trade reality Sweden's Northvolt files for bankruptcy in blow to Europe's battery sector Earlier this year, battery maker Northvolt filed for bankruptcy in Sweden, dealing a blow to Europe's battery manufacturing ambitions. The Swedish firm had managed to secure $15bn from governments and investors before its downfall, although it found itself hobbled by high capital costs, supply chain disruptions, and shifts in market demand. 'Northvolt was sort of the poster child in this new green tech industry so it raises a lot of questions,' said Lemaignan. 'We are trying to learn from that…Keep the focus on one product, one customer, one factory, before expanding.' Lemaignan said that Verkor may look to expand in France, or perhaps also in Europe or the US, but he noted that this wouldn't happen in the near future. He called for governments to stay firm in their ambitions to phase out combustion engines and support EV battery companies, despite the challenging economic environment. 'It's not because some have struggled,… like Northvolt, that it's the end of the game. Europe needs to keep pushing,' he said.
Yahoo
02-07-2025
- Automotive
- Yahoo
France's Verkor calls for 'local for local' after Northvolt collapse
The EU must increase its support for electric vehicle battery manufacturers as the bloc's capabilities trail behind those of other global powers, Benoit Lemaignan, CEO of Verkor, told Euronews. 'We are not protected against unfair competition coming from outside the bloc,' he said. 'If you want to sell batteries in Europe, you should localise. If you don't, you should have a mechanism like a border tax to create a level playing field,' he added. Founded in 2020 and now counting around 1000 employees, Verkor is focused on EV battery cell manufacturing and module assembly. Late last year, the firm secured over €2 billion to finance a gigafactory in Dunkirk, with funds provided by the French state, the European Investment Bank, Renault, and Macquarie — among others. The Grenoble-headquartered firm is seeking to prise market share away from competitors, notably seeking to boost homegrown capacity. According to the International Energy Agency (IEA), South Korean firms contribute most heavily to Europe's EV battery manufacturing capacity, with companies like LG Energy Solution, Samsung SDI, and SK On remaining major players. IEA data shows that Korea-headquartered companies make up 74% of Europe's capacity. That's compared to around 14% for domestically-headquartered firms. Chinese EV makers, meanwhile, represent 12% of capacity, with CATL standing out as an industry giant. While these figures count capacity located in Europe, even if it includes non-European-headquartered firms, over 20% of the region's EV battery demand is also met by imported products. Lemaignan said this should be an incentive for Europe to double down on efforts to compete with foreign suppliers. 'There was a lot of hype in 2021 and 2022 and people probably forgot to realise that it takes time to create an industry,' Lemaignan explained. 'We forgot that the Koreans started 30 years ago and the Chinese started 15 years ago…we are in the moment where we need to keep the engagement.' When it comes to overseas firms making products outside of Europe and selling into the market, Lemaignan argued that these competitors are not subject to the same environmental and labour standards, giving them an unfair advantage. On the other hand, when asked about firms with European plants that are headquartered outside the region, he said: 'If you are subsidised by a foreign country, for example the US, and you want to be acting in the European market, you need to respect rules and disclose subsidies so as to not tweak the market.' One of the EU's major instruments against unfair competition is the Foreign Subsidies Regulation (FSR). This legal mechanism means the Commission can investigate firms operating in the bloc that have received financial contributions from non-EU countries. Related Volvo Cars CEO: dual tech for China and the West is new trade reality Sweden's Northvolt files for bankruptcy in blow to Europe's battery sector Earlier this year, battery maker Northvolt filed for bankruptcy in Sweden, dealing a blow to Europe's battery manufacturing ambitions. The Swedish firm had managed to secure $15bn from governments and investors before its downfall, although it found itself hobbled by high capital costs, supply chain disruptions, and shifts in market demand. 'Northvolt was sort of the poster child in this new green tech industry so it raises a lot of questions,' said Lemaignan. 'We are trying to learn from that…Keep the focus on one product, one customer, one factory, before expanding.' Lemaignan said that Verkor may look to expand in France, or perhaps also in Europe or the US, but he noted that this wouldn't happen in the near future. He called for governments to stay firm in their ambitions to phase out combustion engines and support EV battery companies, despite the challenging economic environment. 'It's not because some have struggled,… like Northvolt, that it's the end of the game. Europe needs to keep pushing,' he said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
01-07-2025
- Business
- Yahoo
US startup Lyten to take over Northvolt's energy storage systems factory in Poland
WARSAW (Reuters) -Silicon Valley startup Lyten will take full ownership of Northvolt Dwa ESS, Europe's largest energy storage systems factory, in a move to expand its product line, the U.S. company said on Tuesday. Northvolt filed for bankruptcy in March, one of Sweden's largest corporate failures and effectively ending Europe's best hope of developing a rival to challenge Chinese battery makers. It announced the factory's closure in November last year. "We plan to immediately restart operations in Poland and deliver on existing and new customer orders," Dan Cook, Lyten CEO and co-founder, said in a statement. The 25,000 square metre (269,000 square feet) battery energy storage system manufacturing and R&D facility in Gdansk, Poland, opened in 2023. The facility includes equipment for up to 6 gigawatt-hours of energy storage manufacturing capacity and the footprint to expand to 10 GWh in the future, Lyten said in a statement, adding that it had contracted orders extending into 2026. The financial terms of the transaction, which is expected to be completed in the third quarter, were not disclosed.
Reuters
21-05-2025
- Automotive
- Reuters
Gotion to begin building Morocco gigafactory 'within days'
RABAT, May 21 (Reuters) - Gotion Power Morocco, a subsidiary of Sino-European electric vehicle battery maker Gotion High Tech, will begin building its gigafactory in the north African country "within days," the company's Morrocan head Khalid Qalam said on Wednesday. Gotion High Tech signed an investment deal with the Moroccan government in June last year to set up the first gigafactory in Africa near Kenitra, northwestern Morocco, for a total investment $6.5 billion. The company's investment, spurred by government incentives, is in line with Morocco's aim to expand and adapt its automotive sector. Qalam told an industry conference in Rabat the groundwork for the factory had been completed and the first production was expected in the third quarter of 2026. In a first phase, at a cost of $1.3 billion, the plant would have 20 gigawatt capacity, he said, adding the company had agreed with the Moroccan government to increase capacity to 40GW in a second phase. He did not give a timeline. In addition to batteries, the plant will also produce cathodes and anodes, with a view to exporting the bulk to Europe, he said. "We have already received orders from many European car manufacturers," he said. Morocco's geographic location close to Europe and its existing automotive industry make it attractive to Chinese EV battery makers. The country is is home to Stellantis ( opens new tab and Renault ( opens new tab vehicle production plants, and reported a 6.3% increase in automotive sector exports to a record 157 billion dirhams ($17 bln) in 2024, according to official figures.
