Lithium Demand is Solid - share price depressing25 May 2022 10:39
Global gigafactory pipeline reaches 300
• The number of battery ‘gigafactories’ in the pipeline has surpassed 300 as the global demand for lithium ion battery production continues.
• China has continued to dominate when it comes to gigafactories, with 226 predicted to be operational by the end of the decade.
• By 2031, China is expected to have almost 4,500GWh of gigafactory capacity – 70% of the global capacity.
• Outside of China, North America has seen the fastest growth of any region, with 11 new gigafactories in its pipeline since April last year – Europe has added eight gigafactories to its pipeline in the same period.
• Joint ventures between automakers and battery companies have been central to the growth in both North America and Europe:
• In September 2019, just one of the five gigafactories in North America was in partnership with an automaker. Now, 14 of the 23 North American gigafactories are wholly or jointly owned by an automaker.
Hyundai to invest $5.5bn in EV and battery facilities in US
• South Korean automaker Hyundai has announced plans to invest $5.5bn to build its first dedicated EV and battery manufacturing facilities in the US.
• Hyundai will break ground on its new facility in Georgia in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 EV units, according to a company statement.
• The automaker, which is among the world's five biggest by vehicle sales, already has ICE production sites in Alabama and Georgia - in April, Hyundai Motor said it plans to invest $300m to add EVs capacity to its Alabama facility.
Tesla to ramp up to pre-lockdown output in Shanghai
• Tesla plans to restore production at its Shanghai plant to the level at which it had operated before the city's COVID-19 lockdown. (Reuters)
• Tesla will more than double its current daily output to 2600 EVs today, compared to around 1000 produced on Monday.
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