Airbus and Boeing to combine $3.1bn order of 19 jets from Vistara
Airbus SE, the European aircraft manufacturer, and the Boeing Company, the US-based aerospace firm, have combined the orders of 19 jets of Singapore Airlines’ Indian unit.
The airline aims to commence international flights with the new jets to increase local operations, Bloomberg reports.
The subsidiary, which is known as Vistara, is set to purchase 13 of the A320neo and A321neo jets that are valued at $111mn respectively, in addition to six Boeing 787-9 Dreamliners for approximately $282mn each.
The carrier confirmed in a statement on Wednesday that the combined order is priced at $3.1bn which excludes customary discounts.
Leslie Thng, Chief Executive Officer of Vistara, stated: “This order is very important for Vistara because we always felt that international operations will give us a leverage on further improving our financial performance”.
The airline, which offers services in three classes, operates in Asia which has been considered one of the most expensive aviation markets in the world.
Despite jet fuel being the most expensive in Asia, fierce competition has meant that fares can be as low as 2 cents.
With Asia being a populous continent of 1.2bn people, the market has seen carriers such as Singapore Air, Etihad Airways and AirAsia search for local partners in a bid to compete against budget airlines such as IndiGo and SpiceJet.
The statement also confirms that leasing companies will be offering 37 new A320neo family aircraft to the airline to rent, to add to its canon of 21 single-aisle Airbus planes.
Ultium Cells LLC/Li-Cycle: Sustainable Battery Manufacturing
Ultium Cells LLC - a joint venture between General Motors and LG Energy Solutions - has announced its latest collaboration with Li-Cycle. Joining forces the two have set ambitions to expand recycling in North America, recycling up to 100% of the scrap materials in battery cell manufacturing
What is Ultium Cells LLC?
Announcing their partnership in December 2019, General Motors (GM) and LG Energy Solutions established Ultium Cells LLC with a mission to “ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute [to the] expansion of a Zero Emission propulsion on a global scale.”
Who is Li-Cycle?
Founded in 2016, Li-Cycle leverages innovative solutions to address emerging and urgent challenges around the world.
As the use of Lithium-ion rechargeable batteries in automotive, industrial energy storage, and consumer electronic applications rises, Li-Cycle believes that “the world needs improved technology and supply chain innovations to better recycle these batteries, while also meeting the rapidly growing demand for critical and scarce battery-grade materials.”
Why are Ultium Cells LLC and Li-Cycle join forces?
By joining forces to expand the recycling of scrap materials in battery cell manufacturing in North America, the new recycling process will allow Ultium Cells LLC to recycle cobalt, nickel, lithium, graphite, copper, manganese and aluminum.
“95% of these materials can be used in the production of new batteries or for adjacent industries,” says GM, who explains that the new hydrometallurgical process emits 30% less greenhouse gases (GHGs) than traditional processes, minimising the environmental impact. Use of this process will begin later in the year (2021).
"Our combined efforts with Ultium Cells will be instrumental in redirecting battery manufacturing scrap from landfills and returning a substantial amount of valuable battery-grade materials back into the battery supply chain. This partnership is a critical step forward in advancing our proven lithium-ion resource recovery technology as a more sustainable alternative to mining, " said Ajay Kochhar, President, CEO and co-founder of Li-Cycle.
"GM's zero-waste initiative aims to divert more than 90% of its manufacturing waste from landfills and incineration globally by 2025. Now, we're going to work closely with Ultium Cells and Li-Cycle to help the industry get even better use out of the materials,” added Ken Morris, Vice President of Electric and Autonomous Vehicles, GM.
Since 2013, GM has recycled or reused 100% of the battery packs it has received from customers, with most current GM EVs repaired with refurbished packs.
"We strive to make more with less waste and energy expended. This is a crucial step in improving the sustainability of our components and manufacturing processes,” concluded Thomas Gallagher, Chief Operating Officer, Ultium Cells LLC.