Vietnam’s manufacturing growth continues for May whilst Taiwan hits 11-month low
Manufacturing growth in Vietnam continued grow during May, with the Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) recording 53.9 points.
The nation’s points rose from 52.7 from the previous month, remaining above the 50 points mark that separates contraction from growth.
Last month saw Vietnam receive a sharp rise in new orders as well as hitting a record rate of expansion within new export business.
The nation also saw a rise in output and employment within the manufacturing industry, with output price inflations easing.
“A record rise in new export orders is the key highlight from the latest PMI, helping to drive growth across the sector,” commented Andrew Harker, HIS Markit’s Associate Director.
However, Taiwan’s manufacturing growth hit an 11-month low, only reaching 53.4 PMI points in May, down from 54.8 in April.
Output and new orders are anticipated to be the cause for the drop, both growing at slower paces.
South Korea also had a disappointing month as its manufacturing growth continues to decline.
The nation saw contraction in the industry, with 48.9 points in the review period, up from 48.4 in April.
China reported its points unchanged last month, once again recording at 51.1, according to the Caixin-Markit PMI.
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.