In May this year, EVE Lithium Energy issued an announcement stating that the company’s wholly-owned subsidiary EVE Power Hungary Korlatolt Felelossegu Tarsasag (hereinafter referred to as “EVE Hungary”) had signed a land purchase agreement with the seller to purchase the seller’s northwest industrial site in Debrecen, Hungary. The land in the area is used for the production of cylindrical power batteries.

According to reports, Everview Lithium Energy’s Hungarian factory is scheduled to be completed and put into production in 2026, and the large cylindrical batteries produced will be supplied to BMW’s Debrecen factory. In addition, the Hungarian government will provide 14 billion Hungarian forints (approximately 37.66 million euros) in subsidies for EV Lithium’s investment.

The 2023 semi-annual report shows that Yiwei Lithium Energy achieved revenue of 22.976 billion RMB in the first half of the year, a year-on-year increase of 53.93%; net profit was 2.151 billion RMB, a year-on-year increase of 58.27%.

The post Yiwei Lithium Energy: Hungary Battery Plant Has Begun Construction appeared first on TechGoing.

Toyota plans to offer electrification options for all of its models by 2025. The capital increase will bring Toyota’s total investment in the plant to approximately $13.9 billion, creating more than 5,000 jobs.

Traditional automakers such as Ford and General Motors have been ramping up production of electric vehicles to close the gap with market leader Tesla. But the two Detroit-based companies have scaled back their investment plans after reaching expensive new contract agreements with the United Auto Workers (UAW) union.

Toyota did not disclose specific investment details and further comment from the company was not immediately available.

Unlike other global automakers, Toyota has earlier focused on hybrid and hydrogen fuel cell models rather than pure electric vehicles. However, Toyota, the world’s largest automaker by sales, announced a shift in strategy this year, planning to commercialize advanced battery technology and adopt die-casting technology pioneered by Tesla.

Other companies including Samsung SDI, Panasonic and Chrysler owner Stellantis NV also plan to set up bases in the United States to build their own battery factories.

Toyota’s North Carolina plant is expected to begin operations in 2025 and will be Toyota’s first automotive battery plant in the world.

The factory will have six battery production lines, four of which will be used to support hybrid models such as the Prius, and the other two will be used to support pure electric vehicles.

North Carolina is becoming a major hub for electric vehicle and battery manufacturing, with several companies including Redwood Materials and Vietnam’s Vinfast planning new investments there.

Following news of Toyota’s increased investment, North Carolina Governor Roy Cooper said on Tuesday: “North Carolina’s transition to a clean energy economy will create higher-paying jobs that will be available for decades to come.” Years of supporting our families and communities.”

India’s Epsilon Advanced Materials announced last week that it plans to invest $650 million in a battery factory in North Carolina. The plant is scheduled to start production in 2026 and could eventually supply batteries for up to 1.1 million electric vehicles for the U.S. market.

THIS IS A SPONSOR PROMOTION: >>>>>>>>>>>>>

Geekwills is an online shop that connects consumers with millions of products and brands around the world with the mission to empower them to live their best lives. Geekwills is committed to offering the most affordable quality products to enable consumers and sellers to fulfill their dreams in an inclusive environment.

The post Toyota commits to invest an additional $8 billion in U.S. battery plants appeared first on TechGoing.

▲ Source: Volkswagen

According to reports, this battery factory is part of Volkswagen’s plan to establish an electric vehicle supply chain in Indonesia. Volkswagen’s total investment in the battery factory is expected to reach US$5 billion.

Deal Street Asia quoted people familiar with the matter as saying that construction of the plant will start within this year. In this regard, Lukman said that the factory will meet the global demand for batteries. In addition, Lukman also pointed out that the factory will also expand the scope of production to electric vehicles in the future.

According to reports, Volkswagen will cooperate with Vale, miner Huayou Cobalt and Ford Motor to establish a supply chain for electric vehicle batteries in Indonesia. The investment cooperation will be led by Volkswagen’s PowerCo. It is learned that Indonesia has become one of the popular destinations for investment in the electric vehicle supply chain due to its rich resources of key raw materials for batteries such as nickel, copper and cobalt.

The post Volkswagen to invest $5 billion in Indonesia plant to capture key raw material for batteries appeared first on TechGoing.