Tesla’s new lithium refinery in Texas has begun production, representing a major step toward vertical integration and domestic battery production. Despite current low lithium prices, the refinery is seen as a strategic move supported by the Inflation Reduction Act. This development comes as analysts predict an oversupply of lithium until 2027, yet Tesla remains optimistic about battery production growth.
Ford Motor Company has signed a major deal with LG Energy Solution to power its electric commercial vans in Europe. The agreement will see LG supplying 109 GWh of batteries starting in 2026, a move that signifies Ford’s commitment to electrifying its commercial vehicle fleet. The partnership also includes a shift in Mustang Mach-E battery production to LG’s Michigan facility, leveraging IRA tax credits and aiming for greater efficiency. This news comes as Ford continues to push forward with its electric vehicle strategy, reporting a 12.2% increase in EV sales in the third quarter of 2023.
Cabot Corporation has received a $50 million grant from the U.S. Department of Energy to establish a new manufacturing facility in Michigan, producing battery-grade carbon nanotubes and conductive additives. This investment will strengthen the domestic supply chain for critical battery components, reduce reliance on imports, and create hundreds of new jobs.
The US Department of Energy announced $3 billion in funding for 25 projects across 14 states, aimed at increasing domestic production of advanced batteries and materials. These projects, expected to create over 12,000 jobs, are a key part of the Biden administration’s clean energy strategy and support the growing electric vehicle market.
TerraVolta Resources, a leading U.S. critical minerals company, has been awarded a $225 million grant from the U.S. Department of Energy to build a lithium production facility in the Texarkana region. The project, known as Liberty Owl, will use direct lithium extraction technology to produce battery-grade lithium from domestic brine resources, aiming to meet the growing demand for electric vehicle batteries and other clean energy applications.
A Chinese battery plant in Hungary, despite facing strong local opposition and environmental concerns, is forging ahead with its construction. Residents fear the plant will pollute the environment, exploit resources, and impact their lives, prompting protests, lawsuits, and even air quality monitoring. The Hungarian government’s support for the project, however, stems from its belief that battery production is crucial for economic growth, despite the potential downsides.
Tesla is rapidly constructing its first energy storage product factory outside the US, located in Shanghai, China. The factory is expected to begin production in early 2025 and will significantly boost Tesla’s energy storage production capacity, contributing to the company’s ambitious growth targets in this sector.
Mullen Automotive, Inc. (MULN) announced on Monday the completion of the first phase of battery line integration at its high energy facility. The project involved the startup, debugging, and early-stage commissioning of the initial two battery assembly lines. The company expects to hire over 200 people for battery production and operational support once the production line starts in early 2025. CEO David Michery stated that the new battery assembly plant is a testament to the company’s commitment to US battery production and strengthens its market position.
Sicona Battery Technologies, an Australian battery materials innovator, has announced its expansion into the rapidly growing US battery component market. The company plans to build commercial production facilities in the southeast, with an initial capacity of 6,700 tonnes per annum (tpa) of silicon-carbon anode materials. This will make Sicona the largest producer of silicon-carbon anode materials in the US, surpassing current and planned production capacity in the northwest. By the early 2030s, Sicona aims to increase its US production to 26,500 tpa, sufficient for over 10 million American electric vehicles (EVs). Sicona’s silicon-carbon anode materials can significantly improve EVs by increasing range and reducing charge times, key factors in driving EV adoption. The company leverages its intellectual property portfolio to produce Silicon-Carbon (Sicona SiC) anode materials that boost Lithium-ion battery energy density by over 20% and reduce charge times by more than 40%. Sicona’s technology avoids reliance on expensive, dangerous, or emission-intensive supply chains, enabling customers to access competitive prices and scale for maximum impact. Sicona has started supplying product samples and initiating offtake discussions with cornerstone customers to support its US manufacturing plans.
