The international EV industry is expecting a surge in sales and experiencing an increasing demand for improved battery performance as a result. Large energy companies such as SK, LG and Samsung are racing against each other to become the world's leading battery supplier. New EV models and government incentives are driving the increase in demand for fully electric vehicles worldwide. Improving battery performance has always been our key focus at Addionics and we are proud to be taking part in the automotive electric revolution.
SK Innovation to invest $727M in second U.S. battery plant
SK Innovation, South Korea’s first and largest energy chemical company and the supplier of Volkswagen and Ford Motors has recently announced that it will invest $727M in building its second EV battery plant in the U.S . Construction is planned to begin this July in Georgia with the aim to start production in 2023. The plant is expected to have an annual capacity of 11.7 GWh. A second investment is planned, which will bring the total spending to nearly $1.5bn. The company also intends to invest 1.2 trillion in its first U.S. plant, still under construction, aiming for a capacity of 9.8 GWh. “SK innovation believes it is important to continue making strategic investments to drive economic growth and meaningful change. With this investment, SK innovation’s battery business will significantly contribute to not only the local Georgia economy, but the development of the U.S. EV industry value chain and ecosystem,” SK Innovation CEO Kim Jun said. The company has additional EV battery factories in China, South Korea and Hungary. Read more
Photo credit: InsideEVs
French government announces 8 Billion Euros aid pack for automotive industry
An aid package of 8 Billion Euros to the French car industry has been announced by French President Emmanuel Macron, following the Covid-19 impact on the industry. He aims to reach 1M new electric vehicles on the roads within the next 5 years and for France to become the top producer of EVs in Europe. This package includes not only subsidies for purchasing EVs but also for conversions of combustion engine vehicles to fully electric ones and charging infrastructure. For example, state subsidies for private EVs will increase from 6,000 to 7,000 Euros for a list price of up to 45,000 Euros. The number of charging stations is expected to triple to 100,000 by the end of 2021. “We need not only to save (the industry) but transform it’’ said Macron. Read more
Photo credit: Ludovic Mari—AP
Significant increase in EV sales in Europe
During the first quarter of 2020, sales of battery EVs in Europe have doubled. However, they still only account for 4% of all European cars according to data collected by the European Alternative Fuels Observatory (EAFO). “When the increase of available recharging points is combined with financial incentives like a purchase subsidy...reduced fuel costs, road tax… then people start buying electric,” says Floris Jousma, clean mobility specialist at the EAFO. Europe has been investing a huge amount of resources to promote the use of EVs; just last week, the EU has announced that it is considering a 100 Billion Euro economic and climate protection package which, among other topics, will promote ‘cleaner cars’ through purchase premiums, funding innovation in electric vehicles and aims to input 2M charging points by 2025. Read more here and here.
Photo credit: Canva
Global surge in EV sales predicted in 2021
A new report by Cairn Energy Research Advisors, predicts a global surge in EV sales in 2021. The expected 36% increase in sales (amounting to 3M vehicles worldwide) is the result of various government incentives such as in the EU (see above), the introduction of new affordable models of cars and trucks, among other factors . Sam Jaffe, the firm’s managing director, claims that the biggest factors contributing to this will be the European and Chinese markets. China is already leading the international market, having built 1M battery powered models in 2019. In the U.S., Tesla is expected to lead in market share but also Ford and General Motors will help focus consumers' attention on the EV market. Read more
GM's new Chevy Menlo. Photo credit: GM