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The Boom in Battery Metals for EVs Is Turning to Bust

Livemint

Livemint · 1y ago

The Boom in Battery Metals for EVs Is Turning to Bust

The crash in battery metal prices, along with a slowdown in electric-vehicle sales growth, has impacted the plans of lithium and nickel producers. Albemarle, the world's most valuable lithium company, has deferred spending on a $1.3 billion plant in South Carolina. Meanwhile, Glencore has suspended production at an unprofitable nickel mine, and BHP Group is considering shutting down its Australian nickel business. The abundance of these metals, driven by increased mining projects, has outpaced the demand for electric vehicles, leading automakers to delay investments and adopt a cautious approach. However, the mining slowdown also risks creating shortages if demand increases.

Related News

Low cost, zero waste: How Minimines’ modern lithium extraction process can boost EV adoption in India

YourStory

YourStory · 2y ago

Low cost, zero waste: How Minimines’ modern lithium extraction process can boost EV adoption in India

Minimines, founded in 2020, says its battery recycling process to extract lithium and other precious metals is more cost-effective and sustainable than its competitors. The startup hopes that by making lithium extraction more efficient, it can help EVs become affordable in India.

The World Needs to Crack Battery Recycling, Fast

Wired · 1y ago

The World Needs to Crack Battery Recycling, Fast

In the future, with the rise of electric vehicles (EVs), the issue of recycling their rechargeable batteries is becoming a concern. These batteries contain valuable metals that are challenging to extract, such as cobalt, which is mostly sourced from the Democratic Republic of Congo under hazardous conditions. As the demand for EVs increases, so does the volume of spent batteries. While China currently dominates the raw material recovery market, Europe is catching up, with car manufacturers like Volkswagen and mineral processors exploring recycling options. However, current recycling methods are crude, and researchers are investigating more sustainable and efficient techniques. Additionally, there is a push to develop cheaper and more environmentally-friendly battery alternatives to reduce the need for recycling.

Volvo invests in, taps Breathe Battery tech for 30% faster EV charging

Reuters · 1y ago

Volvo invests in, taps Breathe Battery tech for 30% faster EV charging

Volvo Cars has invested in UK startup Breathe Battery Technologies to enhance its next generation of electric vehicles (EVs). The investment aims to cut charging time for the EVs by 30%, using Breathe's battery software. By providing greater visibility on individual battery cells, the algorithm-based software allows the EV to charge at full power without compromising safety. The technology is expected to be integrated into new Volvo EVs within the next two to three years. Faster charging times are crucial in encouraging wider EV adoption. Additionally, Breathe aims to extend battery life and performance to meet automakers' needs.

Chinese EV giant BYD posts 62% jump in 2023 vehicle sales

Reuters · 1y ago

Chinese EV giant BYD posts 62% jump in 2023 vehicle sales

Chinese electric vehicle (EV) giant, BYD, reported a 61.9% increase in vehicle sales for 2023, selling approximately 3.02 million vehicles. Out of these, about 1.6 million were battery EVs and 1.4 million were plug-in hybrid EVs. In December alone, BYD sold 340,178 electric vehicles, including 190,754 battery EVs. The company has also announced plans to construct a new manufacturing plant in Hungary.

For Nvidia, it’s AI or bust as it reports a record-breaking quarter

Arstechnica

Arstechnica · 1y ago

For Nvidia, it’s AI or bust as it reports a record-breaking quarter

Nvidia's CEO, Jensen Huang, predicts the AI boom will continue into next year and has announced a $25 billion share buyback program. This comes as Nvidia's earnings far exceed expectations, with quarterly revenue reaching $13.51 billion, a 101% increase from a year ago. Nvidia's near-monopoly on hardware for accelerating neural network training and deployment positions it strongly in the generative AI market. The demand for GPUs in AI applications is immense, and Nvidia's lead in this space remains unmatched, making it the first $1 trillion chip company.

Ascend Elements, Elemental Strategic Metals form European EV battery recycling venture

Reuters · 1y ago

Ascend Elements, Elemental Strategic Metals form European EV battery recycling venture

U.S. company Ascend Elements and Poland's Elemental Strategic Metals have partnered to establish a joint venture called AE Elemental, aiming to recycle electric vehicle (EV) batteries. The companies have already opened a plant in Poland, with plans to build another facility in Germany. The joint venture is seeking European Union and local government funding to support the investments. The move aligns with the EU's requirement for increased recycling of materials in EV batteries. Ascend Elements has also raised substantial funding for EV battery production, while Elemental Strategic Metals is nearing completion of another funding round.

India’s electric vehicles now getting financed with new models

Economic Times

Economic Times · 1m ago

India’s electric vehicles now getting financed with new models

A new wave of startups and financiers is transforming electric commercial vehicle financing in India, tailoring approaches to fit the specific needs of EVs. New models like battery subscriptions, flexible EMIs, and first-loss guarantee partnerships are emerging, addressing the challenges of financing EVs. Innovations are making EV ownership more accessible for small operators by splitting battery and chassis payments, providing flexible terms, and reducing lender risk, fostering broader commercial EV adoption.

ChargeZone Unveils Digital Platform For Battery Management

Inc42 · 10m ago

ChargeZone Unveils Digital Platform For Battery Management

ChargeZone is a startup that offers high-speed charging networks for electric vehicles (EVs). The company has developed a digital platform called Battery Passport System, which collects data throughout the battery's lifespan to maximize its value and facilitate repurposing and recycling efforts. ChargeZone was founded in 2018 by Hariyani and aims to revolutionize the charging infrastructure for EVs, including cars, buses, and trucks.

Why storytelling matters in EV marketing?

Inshorts · 3m ago

Why storytelling matters in EV marketing?

In a segment where skepticism is common, storytelling humanises EV brands. Holistic marketing weaves together purpose-driven narratives around sustainability, innovation, and lifestyle fit. These stories go beyond features, helping customers see EVs as a reflection of their identity and values, turning consideration into loyalty.

Centre To Soon Release Battery Swapping Norms For Ebuses

Inc42 · 1y ago

Centre To Soon Release Battery Swapping Norms For Ebuses

The Indian government is planning to introduce uniform standards for batteries in electric buses (ebuses) to facilitate battery swapping and increase the adoption of electric vehicles (EVs). The standards will ensure compatibility in size, weight, and capacity of ebuse batteries, allowing for seamless interoperability. Currently, battery capacities and weights vary among different ebuses, making it difficult to implement battery swapping stations. This move is part of the government's efforts to promote EV adoption, with a target of deploying 10,000 ebuses in 169 cities through a public-private partnership model.

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