Tesla has signed new contracts with two of its existing Chinese suppliers of battery materials. Huayou Cobalt and CNGR Advanced Material signed pricing agreements with Tesla for deliveries through the middle of this decade.
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Ford has confirmed it is currently negotiating several partnerships to secure most of the nickel it needs until 2026 and beyond. Ford has also signed several important contracts for the procurement of lithium.
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LG Chem has formed a joint venture with B&M, a subsidiary of the Chinese company Huayou Cobalt, to produce cathode materials. A second joint venture is to be set up with Kemco to manufacture precursors for cathodes.
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The BMW Brilliance Automotive (BBA) joint venture has just established a closed cycle recycling operation in China for the reuse of the raw materials nickel, lithium and cobalt from high-voltage batteries. Compared to the use of newly mined material, CO2 emissions are to be reduced by 70 per cent.
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The South Korean steel company Posco wants to set up a recycling business for lithium-ion batteries from electric cars together with the Chinese company Huayou Cobalt. The partners have already established a 65:35 joint venture called Posco Hy Clean Metal.
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LG Energy Solution will build a US$1.2 billion battery factory in the Indonesian city of Bekasi, east of Jakarta, together with the state-owned Indonesia Battery Corporation (IBC), according to a media report. The initial annual capacity is to be 10 GWh.
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Munich-based start-up Sono Motors is the first electric vehicle manufacturer to become a member of the Fair Cobalt Alliance. The action platform is an initiative to promote fairer cobalt mining practices in small-scale mining in the Democratic Republic of Congo.
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Volvo wants to use blockchain technologies to increase transparency regarding the origin of the cobalt used in the batteries of their electric cars. The first project in China, the home country of Volvo’s mother company Geely, has now been launched.
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In a move to secure its cobalt supply for lithium batteries, Korea’s LG Chem has agreed to build two joint ventures with China’s Zhejiang Huayou Cobalt. The JVs are expected to start producing 40,000t a year of precursors and cathodes from 2020.
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