Amid fierce competition, some Chinese battery cell makers will face production cuts or shutdowns due to a lack of orders, market research firm TrendForce said in a report released on December 4.
In April, more than 20 Chinese companies disclosed construction plans for new battery production facilities that were expected to total an annual capacity of 152 gigawatt-hours, down 55 per...
Freyr Battery recently announced that it is struggling to scale up a new low-cost battery manufacturing technology licensed from 24M. The company plans to lay off employees and cut spending by 50% while it
In December 2023, Chinese EV maker Nio unveiled its ET7 sedan with a semi-solid state, 150 kWh battery made by Chinese battery company WeLion, which can travel 650 miles on a single charge and which the company''s CEO, William Li, asserted currently represents the "battery pack with the highest energy density in mass production in the world."
Call it new industry growing pains: Companies are struggling to bridge the gap between early-stage products and the high-volume production that will be needed down the line, reports The...
(Yicai) Jan. 17 -- Chinese power battery giants, including Contemporary Amperex Technology and BYD, are going all out to further lower the production costs and prices of batteries. CATL is promoting 173-ampere-hour lithium iron phosphate battery cells using VDA specifications set by the German automotive industry to carmakers, 36Kr reported yesterday, citing sources.
Amid fierce competition, some Chinese battery cell makers will face production cuts or shutdowns due to a lack of orders, market research firm TrendForce said in a report released on December 4.
Freyr Battery recently announced that it is struggling to scale up a new low-cost battery manufacturing technology licensed from 24M. The company plans to lay off employees and cut spending by 50% while it resolves issues with the process.
Battery makers have responded by delaying or cancelling their own projects. Northvolt of Sweden, Europe''s leading domestic battery hope, said this week it would cut jobs and trim other...
Northolt is a firm of many firsts. Not only has the Swedish startup built Europe''s largest battery manufacturing plant, but at the end of December 2021, it became the first European company to fully design, develop and assemble a battery at a gigafactory – marking a new chapter in European industrial history.. The Swedish startup, which was valued at US$12bn by investors
Embattled green tech player Northvolt has missed some in-house targets and has curtailed production at its battery cells plant in northern Sweden, according to internal company documents and company sources,
Electric vehicle (EV) battery manufacturer Panasonic has announced plans to scale back product development in response to "rapidly reduced demand." The company is slashing EV battery production at its Japan facilities by 60% compared to its first quarter output, and will also cut its full-year profit outlook at its battery unit by 15%.
(Yicai Global) Nov. 15 -- Shares of Chinese companies in the power battery industrial chain power edged up today following a plunge yesterday, as they denied recent claims that battery makers plan to slash production after lithium
In order to cope with overcapacity and stiff competition, Honeycomb Energy will cut back on production, reduce its headcount and improve efficiency, Yang Hongxin, chairman and chief executive officer of the country''s sixth largest battery maker with a market share of 2.2 percent said earlier this year.
In April, more than 20 Chinese companies disclosed construction plans for new battery production facilities that were expected to total an annual capacity of 152 gigawatt-hours, down 55 per...
(Yicai Global) Nov. 15 -- Shares of Chinese companies in the power battery industrial chain power edged up today following a plunge yesterday, as they denied recent claims that battery makers plan to slash production after lithium carbonate prices topped CNY600,000 (USD85) a ton.
Automakers such as Ford have adjusted to slowing electric vehicle sales growth by changing EV production schedules. Electric vehicle battery companies have cut hundreds of jobs over the...
Electric vehicle (EV) battery manufacturer Panasonic has announced plans to scale back product development in response to "rapidly reduced demand." The company is slashing EV battery production at its Japan
In July, Samsung made big waves in the EV industry by revealing that its pilot solid-state battery production line is now operational. As per the company, its batteries could offer 600-mile range
Automakers such as Ford have adjusted to slowing electric vehicle sales growth by changing EV production schedules. Electric vehicle battery companies have cut
Panasonic lowered its full-year operating profit forecast for the energy unit that makes batteries for Tesla and other manufacturers to 115 billion yen ($769 million) from 135 billion yen on an...
In order to cope with overcapacity and stiff competition, Honeycomb Energy will cut back on production, reduce its headcount and improve efficiency, Yang Hongxin, chairman and chief executive officer of the
Just six companies—BYD, CATL, LG Energy Solution, Panasonic, Samsung SDI, and SK Innovation—were responsible for supplying 87 percent of batteries and battery metals in passenger EVs in the
Panasonic lowered its full-year operating profit forecast for the energy unit that makes batteries for Tesla and other manufacturers to 115 billion yen ($769 million) from 135 billion yen on an...
Battery makers have responded by delaying or cancelling their own projects. Northvolt of Sweden, Europe''s leading domestic battery hope, said this week it would cut jobs and trim other...
Leaders in the BESS Revolution: Top Battery Energy Storage Companies. At the front of the battery energy storage system revolution is a group of groundbreaking companies. Each brings its own skills and new solutions to change how we
Europe needs it own battery production companies and green ones at that. This is the biggest European player," says Jim Hagemann Snabe, the chair of industrial giant Siemens and ex-chair of
Ottawa and Ontario announced a deal with Volkswagen in April, 2023 to provide the company with up to $13.2-billion for production support after the company builds a battery plant in St. Thomas
QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. The company''s next-generation batteries are designed to enable greater energy density, faster charging and enhanced safety to support the transition away from legacy energy sources toward a lower carbon future.
Earlier this week, we covered Michigan-based EV battery startup ONE, Our Next Energy, cutting its workforce by 25% as part of a “revised business plan,” according to the company. The company, headquartered in Novi, a suburb of Detroit, announced that it has cut 128 salaried and hourly workers from its staff of roughly 500 people.
Call it new industry growing pains: Companies are struggling to bridge the gap between early-stage products and the high-volume production that will be needed down the line, reports The Information. Battery makers also are looking to save cash as costs surge and investors move their funding to less risky prospects.
Battery makers have responded by delaying or cancelling their own projects. Northvolt of Sweden, Europe’s leading domestic battery hope, said this week it would cut jobs and trim other activities to focus on its first gigafactory in northern Sweden. Volkswagen’s battery business PowerCo is among others that have moderated ambitions.
Companies from battery makers and lithium miners to cathode and anode producers have suffered a profit decline because of falling battery prices, caused by an overexpansion in response to a demand surge between 2021 and 2022.
Jill Pestana, who leads the battery practice in North America for the consulting firm Accenture, adds that it’s hard for battery companies to navigate the period between receiving a major investment and achieving profitability because it can be long, and many investors are hoping for a quick return.
SVolt chair Yang Hongxin has warned that fewer than 40 battery manufacturers could survive the wave of consolidation by the end of this year. “Previously, tier-2 and tier-3 battery makers participated in pricing competitions to grab more market share. Currently, even the biggest players are lowering prices,” said Yang at an event last month.
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