May 16, 2020

Tesla set to produce electric cars in Shanghai after confirming factory

Tesla
China
Automotive
Shanghai
Sean Galea-Pace
2 min
US-based company Tesla has announced that it has agreed a deal to construct a factory to produce its electric cars in China.

Tesla confirmed that it an...

US-based company Tesla has announced that it has agreed a deal to construct a factory to produce its electric cars in China.

Tesla confirmed that it anticipates construction to commence “in the near future, after we get all the necessary approvals and permits”.

It will take approximately two years before Tesla can begin to make cars followed by another two to three years before the factory fulfils its capacity of 500,000 vehicles.

On Tuesday morning, shares of the company had risen 2%.

“It is always interesting to see how the shares react," CFRA analyst Efraim Levy told CNBC. "A lot of times it seems news is good news for them”.

Tesla revealed in a statement that it was “deeply committed to the Chinese market and looked forward to building even more cars for its customers there”.

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Ahead of the announcement on Tuesday, a large number of Wall Street members anticipated that Tesla must raise capital in the near future. Levy also confirmed that apart from new obligations in China, Tesla will still be left to raise $2-3bn as an operational cushion during the first quarter of 2019.

In the last few days, the automaker has raised prices to 20% in the country in response to import tariffs.

The US inflicted tariffs on $34bn of Chinese products which prompted China to set their own taxes on a number of different US products, including cars.

The trade dispute has intensified further after BBC News reported on Wednesday that the US has listed $200bn worth of additional products that are set to be taxed as early as September.

 

 

 

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May 12, 2021

Ultium Cells LLC/Li-Cycle: Sustainable Battery Manufacturing

SustainableManufacturing
BatteryCell
EVs
Automotive
2 min
Ultium Cells LLC and Li-Cycle join forces to expand recycling in North America, recycling up to 100% of the scrap materials in battery cell 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.

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