Germany-headquartered battery manufacturer Varta will receive €300 million (US$338 million) of government funding to develop large format lithium-ion cells, which has been deemed a project of potentially strategic interest for Europe.
Lithium-ion cell prices will fall by around 46% between now and 2029, according to new analysis from Guidehouse Insights, reaching US$66.6 per kWh by that time.
The European Union’s European Investment Bank (EIB) has affirmed its commitment to supporting a “pan-European battery industry”, while plans of the UK’s first full cycle battery cell gigafactory have been unveiled.
The government of India has announced measures to promote new “Champion Sectors” of economic growth, including support incentives for advanced battery cell and solar PV manufacturing.
Construction looks set to begin this year on a factory building flow batteries, as a joint venture (JV) formed by German tech company Schmid Group and Saudi Arabian investment company Nusaned closed the transaction to seal its partnership.
South Korean lithium-ion battery manufacturer SK Innovation will begin construction on the second of two manufacturing plants in the US state of Georgia this summer, with the first already under construction.
The COVID-19 crisis is bringing into the public eye the US’ dependency on importing goods, particularly batteries for advanced energy storage and electric vehicles, the CEO of a battery materials startup has said.
US-headquartered energy storage manufacturing startup KORE Power has said that its supply partner in China has resumed operations “and is presently working to meet KORE Power’s customer orders”.
Northvolt, the startup which recently netted a US$1 billion equity raise for its initial lithium battery ‘gigafactory’ in Sweden, has said that its ambitions extend deep into the energy storage solutions space, in addition to its involvement with major carmakers.
