Batteries

Chinese Battery Makers Face Double Trouble: Tariffs and Domestic Challenges

5 days ago

Chinese battery manufacturers are currently grappling with a confluence of adverse factors that threaten their industry’s growth and global competitiveness. Worsening tariffs imposed by various countries, combined with existing domestic challenges, have created a turbulent environment for these critical players in the energy sector.

CATL Reports Significant Profit Growth in 2024 Driven by Robust EV Battery Demand

1 month ago

In a landmark announcement, Contemporary Amperex Technology Co. Limited (CATL), a global leader in lithium-ion batteries and electric vehicle (EV) solutions, revealed a remarkable 15% increase in profit for the year 2024. This surge is primarily attributed to the relentless demand for electric vehicle batteries around the world.

IM3NY: New York-Based Battery Maker Files for Bankruptcy Amid Financial Struggles

3 months ago

In a significant development for the renewable energy sector, IM3NY, a New York-based battery manufacturer, has filed for bankruptcy after succumbing to severe financial pressures. The company, which has been a key player in the battery production industry, announced on Friday that it had run out of cash and could no longer support its operational costs.

LG Energy Cuts Back on Spending Amid Rising Concerns Over EV Demand

3 months ago

In a significant shift within the electric vehicle (EV) market, LG Energy Solution, a leading battery manufacturer, has announced a reduction in its capital expenditures for the upcoming year. This move comes as the company grapples with uncertainties surrounding global electric vehicle demand. The company’s decision marks a departure from previous aggressive expansion strategies aimed at bolstering production capacity for EV batteries, signaling a cautious approach to anticipated market fluctuations.

CATL Dominates Global EV Battery Market: Implications and Risks Ahead

3 months ago

Contemporary Amperex Technology Co. Ltd. (CATL), the world's leading producer of electric vehicle (EV) batteries, has significantly boosted its market share, solidifying its position in the fast-evolving automotive sector. As the demand for electric vehicles intensifies across various regions, particularly in Europe and North America, CATL's dominance has raised both expectations and concerns regarding the sustainability of its growth and the potential vulnerabilities it may create within the industry.

World’s Leading Cobalt Miner Achieves Unprecedented Production Milestone in 2024

3 months ago

In a significant achievement for the mining industry, the world's top cobalt producer announced a record-breaking production output for the year 2024. This impressive milestone signifies not only the company’s operational prowess but also highlights the increasing global demand for cobalt, a crucial mineral used in the manufacturing of batteries for electric vehicles and various electronic devices.

TDK Unveils Innovative Battery Solutions to Support the AI Revolution in iPhone Manufacturing

3 months ago

In a significant development poised to impact the tech industry, TDK Corporation, a key supplier for Apple's iPhone components, has announced the launch of its latest battery technology designed to cater to the growing demands of artificial intelligence (AI) applications. This strategic move comes as tech giants like Apple increasingly integrate AI capabilities into their devices, necessitating more robust and efficient battery solutions.

Northvolt CEO Peter Carlsson Resigns Following Bankruptcy Filing

5 months ago

In a shocking turn of events, Peter Carlsson, the CEO of Northvolt, has resigned just one day after the company filed for bankruptcy. This development has sent ripples through the electric vehicle battery manufacturing industry, raising concerns about the future of one of Europe's most ambitious energy start-ups.

Northvolt CEO Steps Up to Support New Financing Round Amid Growing EV Market

7 months ago

A recent report by Svenska Dagbladet, Northvolt AB's CEO Peter Carlsson intends to back the company's upcoming financing round. This is at a very critical juncture for the Swedish battery manufacturer, amid the surge in demand for EV batteries across the globe.

Storage Takes Center Stage in China’s Green Energy Transition

7 months ago

China is reworking its green-energy strategy with a greater emphasis on energy storage as it tries to ensure the stability and reliability of supplies of renewable power. As the world's biggest emitter of carbon dioxide undertakes a shift toward cleaner sources of energy, the need for reliable means of energy storage has become key in the attainment of carbon neutrality by 2060.