Latest news with #Novonix
CNN
19-07-2025
- Business
- CNN
Chinese graphite is crucial to electric car batteries. Trump just put a 93.5% tariff on it
The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States. The Commerce Department announced a 93.5% tariff on Chinese graphite Thursday, accusing the country of 'dumping' the raw material in the United States below the market price. The decision was hailed by domestic graphite producers, who say Chinese producers dominate the market and keep American companies from getting off the ground. Raw graphite is relatively cheap, costing less than $2 per pound. Chinese imports to the United States more than doubled over two years, hitting $347 million in 2023, according to the most recent Commerce Department data available. But domestic producers haven't been making graphite of the purity needed to build EV batteries, according to testimony from Tesla during the investigation into the tariffs. Mike O'Kronley, CEO of US-based graphite producer Novonix, said the tariff will help to increase investment and production in the domestic industry. 'This is going to be very transformative for the graphite industry in the United States,' he told CNN Friday. 'Manufacturers in China have really overinvested, and they have a lot of additional capacity, so they are exporting a lot of that volume. It's hampering the development of the US critical minerals.' The move not only is an escalation of trade tensions between the United States and China, but another blow to American EV production. The Trump administration is slashing federal support for electric vehicles. The administration is looking to eliminate or recall federal government loans used to help fund construction of EV factories and battery plants, and the spending and tax bill passed earlier this month that Trump signed into law will eliminate a $7,500 tax credit for EV buyers. The Biden administration imposed a 25% tariff on graphite last year and started the process that led to the 93.5% tariff announced Thursday. On top of the other duties the Trump administration has imposed on China, Chinese graphite could face tariffs of about 160%. However, the US industry does not currently produce enough graphite to fill demand. Until it does, American EV battery makers will just have to pay a higher price for the graphite it needs from China. Numerous auto and EV battery makers did not respond to CNN's request for comment. But during the hearing process on the potential tariff increase, attorneys for the automakers argued that US producers do not make the high-quality graphite needed for EV batteries. 'Lithium-ion battery producers demand (graphite) with a 99.9 percent carbon purity level, meaning extremely low metallic impurities,' said Matt Nicely, an attorney for Tesla at a hearing in early January. 'Not a single US producer is able to produce (graphite) to these exacting specifications. (Domestic producers) cannot blame imports ….when they are not yet able to produce the product the market demands.' Even O'Kronley admits it will take time for the domestic market to catch up. 'This material takes a long time to develop and qualify to be used in batteries. So it's not very easy to switch or change supply,' he said. 'Tariffs will not have an immediate effect with changing supply. But we will see changes over time and the development of a US industry is going happen now, or it's going to be accelerated.'
Yahoo
18-07-2025
- Business
- Yahoo
Chinese graphite is crucial to electric car batteries. Trump just put a 93.5% tariff on it
The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States. The Commerce Department announced a 93.5% tariff on Chinese graphite Thursday, accusing the country of 'dumping' the raw material in the United States below the market price. The decision was hailed by domestic graphite producers, who say Chinese producers dominate the market and keep American companies from getting off the ground. Raw graphite is relatively cheap, costing less than $2 per pound. Chinese imports to the United States more than doubled over two years, hitting $347 million in 2023, according to the most recent Commerce Department data available. But domestic producers haven't been making graphite of the purity needed to build EV batteries, according to testimony from Tesla during the investigation into the tariffs. Mike O'Kronley, CEO of US-based graphite producer Novonix, said the tariff will help to increase investment and production in the domestic industry. 'This is going to be very transformative for the graphite industry in the United States,' he told CNN Friday. 'Manufacturers in China have really overinvested, and they have a lot of additional capacity, so they are exporting a lot of that volume. It's hampering the development of the US critical minerals.' The move not only is an escalation of trade tensions between the United States and China, but another blow to American EV production. The Trump administration is slashing federal support for electric vehicles. The administration is looking to eliminate or recall federal government loans used to help fund construction of EV factories and battery plants, and the spending and tax bill passed earlier this month that Trump signed into law will eliminate a $7,500 tax credit for EV buyers. The Biden administration imposed a 25% tariff on graphite last year and started the process that led to the 93.5% tariff announced Thursday. On top of the other duties the Trump administration has imposed on China, Chinese graphite could face tariffs of about 160%. However, the US industry does not currently produce enough graphite to fill demand. Until it does, American EV battery makers will just have to pay a higher price for the graphite it needs from China. Numerous auto and EV battery makers did not respond to CNN's request for comment. But during the hearing process on the potential tariff increase, attorneys for the automakers argued that US producers do not make the high-quality graphite needed for EV batteries. 'Lithium-ion battery producers demand (graphite) with a 99.9 percent carbon purity level, meaning extremely low metallic impurities,' said Matt Nicely, an attorney for Tesla at a hearing in early January. 'Not a single US producer is able to produce (graphite) to these exacting specifications. (Domestic producers) cannot blame imports ….when they are not yet able to produce the product the market demands.' Even O'Kronley admits it will take time for the domestic market to catch up. 'This material takes a long time to develop and qualify to be used in batteries. So it's not very easy to switch or change supply,' he said. 'Tariffs will not have an immediate effect with changing supply. But we will see changes over time and the development of a US industry is going happen now, or it's going to be accelerated.'
CNN
18-07-2025
- Business
- CNN
Chinese graphite is crucial to electric car batteries. Trump just put a 93.5% tariff on it
The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States. The Commerce Department announced a 93.5% tariff on Chinese graphite Thursday, accusing the country of 'dumping' the raw material in the United States below the market price. The decision was hailed by domestic graphite producers, who say Chinese producers dominate the market and keep American companies from getting off the ground. Raw graphite is relatively cheap, costing less than $2 per pound. Chinese imports to the United States more than doubled over two years, hitting $347 million in 2023, according to the most recent Commerce Department data available. But domestic producers haven't been making graphite of the purity needed to build EV batteries, according to testimony from Tesla during the investigation into the tariffs. Mike O'Kronley, CEO of US-based graphite producer Novonix, said the tariff will help to increase investment and production in the domestic industry. 'This is going to be very transformative for the graphite industry in the United States,' he told CNN Friday. 'Manufacturers in China have really overinvested, and they have a lot of additional capacity, so they are exporting a lot of that volume. It's hampering the development of the US critical minerals.' The move not only is an escalation of trade tensions between the United States and China, but another blow to American EV production. The Trump administration is slashing federal support for electric vehicles. The administration is looking to eliminate or recall federal government loans used to help fund construction of EV factories and battery plants, and the spending and tax bill passed earlier this month that Trump signed into law will eliminate a $7,500 tax credit for EV buyers. The Biden administration imposed a 25% tariff on graphite last year and started the process that led to the 93.5% tariff announced Thursday. On top of the other duties the Trump administration has imposed on China, Chinese graphite could face tariffs of about 160%. However, the US industry does not currently produce enough graphite to fill demand. Until it does, American EV battery makers will just have to pay a higher price for the graphite it needs from China. Numerous auto and EV battery makers did not respond to CNN's request for comment. But during the hearing process on the potential tariff increase, attorneys for the automakers argued that US producers do not make the high-quality graphite needed for EV batteries. 'Lithium-ion battery producers demand (graphite) with a 99.9 percent carbon purity level, meaning extremely low metallic impurities,' said Matt Nicely, an attorney for Tesla at a hearing in early January. 'Not a single US producer is able to produce (graphite) to these exacting specifications. (Domestic producers) cannot blame imports ….when they are not yet able to produce the product the market demands.' Even O'Kronley admits it will take time for the domestic market to catch up. 'This material takes a long time to develop and qualify to be used in batteries. So it's not very easy to switch or change supply,' he said. 'Tariffs will not have an immediate effect with changing supply. But we will see changes over time and the development of a US industry is going happen now, or it's going to be accelerated.'
Wall Street Journal
18-07-2025
- Business
- Wall Street Journal
Battery-Material Stocks Soar After U.S. Unveils Chinese Graphite Tariffs
Global battery-material stocks jumped after the U.S. moved to impose hefty duties on graphite imported from China. The Commerce Department will impose preliminary duties of 93.5% on Chinese graphite imports, after determining the materials were unfairly subsidized. Graphite is a key component of batteries used in electric vehicles. The anti-dumping measure is likely to benefit non-Chinese companies overseas, as U.S. buyers seek alternative suppliers. South Korean battery-material stocks rallied, with Posco Future M, an affiliate of steelmaker Posco, jumping 20%. Australian suppliers also rallied, led by Syrah Resources. U.S.-traded shares of battery-tech firm Novonix, which operates a synthetic graphite facility in North America, gained 8%. 🔎 Read more:
Yahoo
14-05-2025
- Automotive
- Yahoo
Lithium-Ion Battery Materials Market Valued at USD 42.67 Billion in 2024, Anticipated at USD 235.24 Billion by 2032 Amid EV Expansion and Domestic Recycling Efforts
The Lithium-ion Battery Materials market is driven by the rising demand for electric vehicles and renewable energy storage, alongside advancements in battery efficiency and sustainability. Austin, May 14, 2025 (GLOBE NEWSWIRE) -- The Lithium-ion Battery Materials Market Size was valued at USD 42.67 billion in 2024 and is expected to reach USD 235.24 billion by 2032, growing at a CAGR of 23.79% over the forecast period of 2025-2032. Download PDF Sample of Lithium-ion Battery Materials Market @ Rising EV Adoption and Policy Support Accelerate U.S. Battery Material Advancements The lithium-ion battery materials market is witnessing rapid growth, driven by growing electric vehicle (EV) penetration, ongoing breakthroughs in battery technology, and favorable policy support for clean power. Closer to home in the U.S., the Inflation Reduction Act of 2022 has prompted an explosion in domestic battery manufacturing, with significant related investments extended down the value chain. The ramp in the market has led companies such as Novonix to expand the production of graphite used to make anode materials. In addition, General Motors' $650 million bet on the Thacker Pass lithium mine demonstrates the significance of accessing domestic lithium resources to enhance national energy autonomy. Collectively, these efforts are hardening the U.S. position in global battery materials and building a strong, built-to-last supply chain for the ever-evolving EV market. The US Lithium-ion Battery Materials Market Size was valued at USD 5.03 billion in 2023, projected to reach USD 30.25 billion by 2032, growing at a CAGR of 25.14% over the forecast period of 2024-2032. The US market for lithium-ion battery materials is growing at an accelerated rate due to widespread use of electric vehicles and large investments in the US for battery production. The Inflation Reduction Act is already influencing the future of the battery manufacturing industry, where actors like Novonix are scaling up to meet growing demand for battery-grade materials. GM's investment in the Thacker Pass lithium mine is yet another indication of the emphasis being placed on local lithium resources. These efforts could establish the U.S. as a major player in the world market for battery materials. Key Players: Umicore BASF SE Sumitomo Metal Mining Co., Ltd. POSCO Future M BTR New Material Group Co., Ltd. L&F Co., Ltd. Ecopro BM Co., Ltd. Shanshan Technology Ganfeng Lithium Co., Ltd. TODA KOGYO CORP Lithium-ion Battery Materials Market Report Scope: Report Attributes Details Market Size in 2024 USD 42.67 billion Market Size by 2032 USD 235.24 billion CAGR CAGR of 23.79% From 2025 to 2032 Base Year 2024 Forecast Period 2025-2032 Historical Data 2021-2023 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Segments •By Material (Anode Materials, Cathode Materials, Electrolyte Materials, Others)•By Battery Type (Lithium Nickel Manganese Cobalt, Lithium Iron Phosphate, Lithium Manganese Oxide, Lithium Nickel Cobalt Aluminum Oxide, Lithium Cobalt Oxide, Others)•By Application (Portable Devices, Electric Vehicles, Industrial, Others) Key Drivers • Expansion of Domestic Recycling Infrastructure Enhances Material Availability.• Government Investments Propel Recycling and Reuse Technologies. Environmental Concerns Shaping the Future of Lithium-ion Battery Materials The mining of lithium and cobalt causes habitat destruction and deep groundwater depletion problems. Poor disposal results in leaching of heavy metals into local environments. Material production and refining lead to high amounts of carbon dioxide emissions along the supply chain. Lithium extraction from brine depletes the local water supply and disrupts ecosystems. The low rates of global recycling drive landfill buildup and raw material needs. By Type, Cathode Materials Dominated the Lithium-ion Battery Materials Market in 2023 with a 43.7% Market Share This dominance is due to cathodes making a large contribution to battery performance, energy density, and life. Materials such as lithium nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) are most often used on account of their stability and good performance characteristics. Increased production of EVs, in particular, has led to increased demand for high-performance cathodes, and manufacturers are making huge investments in their R&D for developing the capabilities of the cathode. By Battery Type, Lithium Nickel Manganese Cobalt (NMC) Batteries Dominated the Lithium-ion Battery Materials Market in 2023 with a 38.2% Market Share The popularity of such a system is based upon an optimal combination of energy density, safety, and cost. NMC batteries are commonly found in electric vehicles, power tools, and energy storage. The NMC batteries have also gained strong backing from the automobile sector as it shifts its focus from internal combustion engines to electric vehicles (EVs), while manufacturers have been forced to increase NMC production and technologies to achieve performance and environmental levels. By Application, Electric Vehicles (EVs) Dominated the Lithium-ion Battery Materials Market in 2023 with a 49.8% Market Share Global promotion of sustainable transportation, government subsidies, and development of battery technology have also driven the growth in EVs. This has led to the demand for high-quality battery materials while assuring vehicle performance, safety, and lifespan. Furthermore, businesses are pouring money into innovating and creating products that promote battery efficiency and shorten the charging routine even more, adding to the market's momentum. If You Need Any Customization on Lithium-ion Battery Materials Market Report, Inquire Now @ Asia Pacific dominated the Lithium-ion Battery Materials Market in 2023, Holding a 51% Market Share The region has a strong manufacturing base, large-scale capital investment in battery technology, and high-volume demand for electric vehicles. Early adopters include China, Japan, and South Korea, with China alone representing a large slice of the global EV battery market. Government push, South Korea plan South Korea is planning to invest $29 billion to grow its battery industry, while government incentives support Asia's position at the crest of the wave. North America Emerged as the Fastest Growing Region in the Lithium-ion Battery Materials Market with a Significant Growth Rate in The Forecast Period This expansion is driven by rising EV adoption, heavy investments in battery production, and government supportive measures. The US government's focus on electrifying transportation and decarbonizing the economy is driving explosive growth for battery-manufacturing factories and supply-chain upgrades. Partnerships between car manufacturers and battery manufacturers have been driving the rapid growth of the market in the region. Recent Developments November 2024: Epsilon Advanced Materials collaborated with Daejoo to create high-capacity silicon-graphite anode materials, which extend battery discharge capacity and life. January 2024: MIT scientists produce cobalt-free material for batteries; may lead to more sustainable electric vehiclesTable of Contents – Major Key Points 1. Introduction 2. Executive Summary 3. Research Methodology 4. Market Dynamics Impact Analysis 5. Statistical Insights and Trends Reporting 6. Competitive Landscape 7. Lithium-ion Battery Materials Market Segmentation, By Material 8. Lithium-ion Battery Materials Market Segmentation, By Battery Type 9. Lithium-ion Battery Materials Market Segmentation By Application 10. Regional Analysis 11. Company Profiles 12. Use Cases and Best Practice 13. Conclusion Read Our Trending Reports: Lithium-Ion Battery Recycling Market Size Report 2024-2032 Lithium-Ion Batteries (Li-Ion) Market Share & Forecast to 2032 Lithium-Ion Battery Cathode Market - Global Research by 2032 Battery Materials Market Growth & Analysis by 2032 About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. CONTACT: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)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
