Latest news with #LFP
Yahoo
a day ago
- Automotive
- Yahoo
Tesla shakes automotive world with announcement regarding major US facility: 'Nearing completion'
Tesla is moving closer to opening its first lithium iron phosphate (LFP) battery factory in the United States. The company recently posted a video on X of the factory, located in Sparks, Nevada. In the caption, Tesla said it is "nearing completion" of the facility, which Not a Tesla App reported will manufacture battery cells for Tesla energy projects such as Megapack and Powerwall. LFP batteries are growing in popularity, with manufacturing plants starting to pop up across the globe. Unlike other common batteries, LFPs don't use nickel or cobalt, which makes them lighter, less expensive, and less likely to catch fire. And because those metals don't need to be mined, producing LFP batteries is also a more eco-friendly process. Previous incarnations of LFP batteries weren't powerful enough to replace other battery types, but recent improvements have made them viable alternatives. Until now, Tesla has used Chinese suppliers for LFP battery cells. Plans for the Nevada factory were originally leaked in early 2024, and the company confirmed them during its first-quarter earnings call this year while also discussing the importance of energy storage to the company's future. "The importance of this business … is pretty profound," Tesla CFO Vaibhav Taneja said during that call. "In order for grids to work properly with the demands from AI, you need some more stability." Domestic production of LFP batteries has the potential to be a game-changer, not just for projects like Megapack and Powerwall, but also for electric vehicles. If battery costs come down significantly, cars will also become more affordable, which could put more EVs on the road instead of polluting, gas-powered vehicles. That would be welcome news for Tesla, which has seen its sales numbers drop significantly this year. The type of energy used to charge batteries can also have a huge impact on EV ownership costs. Using home-based solar energy, for example, is considerably cheaper than paying for energy from the grid or using public charging stations. To amplify those savings, EnergySage offers a free tool that enables consumers to compare quotes from local, verified solar panel installers while saving up to $10,000 on installation costs. Would you buy an EV if it only took 5 minutes to charge? Sign me up No way Depends on the cost Depends how much range it has Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Automotive
- Yahoo
Tesla shakes automotive world with announcement regarding major US facility: 'Nearing completion'
Tesla is moving closer to opening its first lithium iron phosphate (LFP) battery factory in the United States. The company recently posted a video on X of the factory, located in Sparks, Nevada. In the caption, Tesla said it is "nearing completion" of the facility, which Not a Tesla App reported will manufacture battery cells for Tesla energy projects such as Megapack and Powerwall. LFP batteries are growing in popularity, with manufacturing plants starting to pop up across the globe. Unlike other common batteries, LFPs don't use nickel or cobalt, which makes them lighter, less expensive, and less likely to catch fire. And because those metals don't need to be mined, producing LFP batteries is also a more eco-friendly process. Previous incarnations of LFP batteries weren't powerful enough to replace other battery types, but recent improvements have made them viable alternatives. Until now, Tesla has used Chinese suppliers for LFP battery cells. Plans for the Nevada factory were originally leaked in early 2024, and the company confirmed them during its first-quarter earnings call this year while also discussing the importance of energy storage to the company's future. "The importance of this business … is pretty profound," Tesla CFO Vaibhav Taneja said during that call. "In order for grids to work properly with the demands from AI, you need some more stability." Domestic production of LFP batteries has the potential to be a game-changer, not just for projects like Megapack and Powerwall, but also for electric vehicles. If battery costs come down significantly, cars will also become more affordable, which could put more EVs on the road instead of polluting, gas-powered vehicles. That would be welcome news for Tesla, which has seen its sales numbers drop significantly this year. The type of energy used to charge batteries can also have a huge impact on EV ownership costs. Using home-based solar energy, for example, is considerably cheaper than paying for energy from the grid or using public charging stations. To amplify those savings, EnergySage offers a free tool that enables consumers to compare quotes from local, verified solar panel installers while saving up to $10,000 on installation costs. Would you buy an EV if it only took 5 minutes to charge? Sign me up No way Depends on the cost Depends how much range it has Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
The Market Online
2 days ago
- Automotive
- The Market Online
A value stock for differentiated battery materials exposure
Lithium iron phosphate, an essential material for lithium batteries, is almost entirely under Chinese control, with new export restrictions only exacerbating market tightness Nano One Materials, a battery technology innovator and lithium iron phosphate manufacturer, is on a high-probability path to becoming a leader in non-Chinese supply Nano One stock has yet to recognize the company's potential, opening the door for a value play Lithium's unmatched performance in the storing and deploying of energy makes lithium batteries a key driver behind the energy transition, powering most electric vehicles on the market today. That said, they are not without their drawbacks. This content has been prepared as part of a partnership with Nano One Materials Corp., and is intended for informational purposes only. Lithium batteries are incredibly expensive to produce, given that new mining projects require billions in capex and long-term time horizons before seeing a return on investment. Additionally, essential battery components are in some cases subject to supply-chain bottlenecks with conflict-prone nations. This is the case with lithium iron phosphate (LFP), a fundamental ingredient for cathode active material, which, alongside the anode, facilitates the transmission of electricity. According to a recent CNN report, while LFP batteries account for 40 per cent of EVs on the road thanks to their superior safety and lower price -granting them a global market expected to surpass US$40 billion by 2030 – China currently controls about 94 per cent of LFP production capacity, with recently announced restrictions on battery cathode technology likely to push prices higher in the rest of the world. This demand dynamic is shining a light on Nano One Materials (TSX:NANO), market capitalization C$113.73 million, an emerging manufacturer of LFP cathode active materials whose patented One-Pot production process has been shown to reduce opex and capex by 30 per cent, greenhouse gas emissions by 50-60 per cent, and water and energy usage by 80 per cent compared to legacy methods. Nano One operates an up to 1,000-ton-per-year manufacturing facility in Quebec, the only one outside of Asia, and is currently at work with high-profile partners Rio Tinto, Worley and Sumitomo Metal Mining, backed by government funding from Canada, Quebec, British Columbia and the United States Department of Defense, to repatriate LFP production and reinforce supply chains across the world. The company is currently in the process of 'sampling, demonstrating and collaborating with partners in North America, Europe and the Indo-Pacific,' according to a statement from Dan Blondal, Nano One's chief executive officer, in a July 8 news release, positioning the company for what its June 2025 investor presentation describes as 'multi-track revenue growth' across a global pipeline spanning artificial intelligence (AI) data centers, aerospace, defense, energy grids and EVs. With numerous catalysts expected in 2025, including capacity expansion and client sample validation (see slide 22 of the investor presentation), as well as a capital-light licensing model in place to catalyze growth, Nano One is on a path to taking its target market by storm, leveraging its low-cost technology into greater efficiencies of scale to enhance margins and foster shareholder value. Nano One stock shows the broader market's pessimism about the underlying company's considerable promise, giving back 21.54 per cent year-over-year and 59.52 per cent since 2020, clearing the way for value investors with the required risk tolerance to look past pre-revenue operations and capitalize on the clear reasons for conviction. Join the discussion: Find out what everybody's saying about this battery materials value stock on the Nano One Materials Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Yahoo
2 days ago
- Automotive
- Yahoo
Why GM Spring Hill is changing up how it produces EV batteries
General Motors' Spring Hill plant will begin producing cheaper battery cells as part of the company's ongoing multibillion dollar joint-venture with South Korean-based LG Energy Solution. The announcement is the latest stepping stone of a 2021 $2.3 billion partnership dubbed Ultium Cells. The low-cost battery cells are known as lithium iron phosphate (LFP). Named after the elemental compounds involved, LFPs are cheaper than other battery cell counterparts used in electric vehicles. 'At GM, we're innovating battery technology to deliver the best mix of range, performance and affordability to our EV customers,' Kurt Kelty, VP of batteries, propulsion, and sustainability at GM, said in a press release. 'This upgrade at Spring Hill will enable us to scale production of lower cost LFP cell technologies in the U.S., complementing our high-nickel and future lithium manganese rich solutions and further diversifying our growing EV portfolio.' Touted for its longer range between charges and reliability in low temperatures, high-nickel battery cells continue to dominate the U.S. market. Despite high-nickel's advantages, EV manufacturers are beginning to favor LFPs for its lower costs and non-combustibility. With the majority of LFP production based in China, a host of EV manufacturers are planning to onshore LFP manufacturing to create supply chain security. While LG Energy Solution has major LFP production sites in Holland, Michigan, and now Spring Hill, other soon-to-be LFP manufacturers include Tesla and Ford who plan to build production sites in Nevada and Michigan, respectively. The Spring Hill plant employs 1,300 people and expects to begin producing the battery cells by late 2027. 'We are grateful for the continued partnership and support we've received from the state of Tennessee as we continue to advance our lead in EV battery cell manufacturing,' President and CEO of Ultium Cells Kee Eun said in a statement. 'This investment expands our capabilities beyond a single battery cell chemistry, allowing us to produce new chemistries alongside our existing cells. 'Expanding our product portfolio ensures Ultium Cells will remain at the forefront of battery cell innovation and sustain our commitment to be a stable, long-term employer for the communities we serve.' The Ultium Cells plant in Warren, Ohio, will continue to produce battery cells with nickel cobalt manganese aluminum chemistry. This article originally appeared on Nashville Tennessean: General Motors plans to produce cheaper EV batteries in 2027 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
South China Morning Post
3 days ago
- Automotive
- South China Morning Post
What you need to know about China's export restrictions on 8 key EV battery technologies
China's latest export restrictions on eight key electric vehicle (EV) battery technologies officially took effect this week, about half a year after it announced its intention to implement them. According to the rules announced by the Ministry of Commerce and the Ministry of Science and Technology, manufacturers using the technologies in the production of EV batteries must now obtain government licences before transferring them abroad. In this explainer, the Post takes a look at the technologies involved and the potential impact of the restrictions. Which technologies are subject to export restrictions? The restrictions primarily cover technologies for battery cathodes, a critical component that sets the ceiling for a battery's energy density and lifespan. Restrictions are being applied to three technologies used to make intermediate substances needed for battery cathodes – including those used to produce lithium iron phosphate (LFP), lithium manganese iron phosphate (LMFP), and other phosphate-based precursors with defined chemical compositions and performance standards. Five technologies related to lithium extraction and processing – essential upstream steps for producing materials such as LFP – are also included on the export restriction list. The announcement also specified that export restrictions on gallium extraction technologies – used in the production of a key semiconductor material – now focus on ion exchange and resin techniques, replacing the broader 'dissolution method' mentioned in previous rules. Why are these technologies so important?
