This Week in Batteries: CATL Targets $5B in Hong Kong Listing

• Rho Motion reports that global EV sales hit 1.3 million units in January, up 18% YoY (Link)
• CATL files for Hong Kong listing, potentially raising $5B (Link)

• Hyundai is launching its all-solid-state ‘Dream’ EV battery pilot line in March (Link)
• Li Auto begins mass production of in-house developed SiC modules for more BEV launches (Link)
• Gelion's GEN 3 sulfur cathodes viable for full SSBs (Link)

• Honda, Nissan end merger talks, leaving Nissan to seek other partners (Link)
• BYD unveiled a new car automation system, a level-two "driverless" style automation system that it claims can handle city driving, not just highways (Link)
• BYD leads January China EV sales with 26.9% market share (Link)
• Hyundai-Kia purchases more batteries from SK On in the U.S. (Link)
• India's Modi meets with Musk in Washington to discuss issues including space, mobility, technology and innovation (Link)
• Nio Power's charging network is now open to users of Great Wall Motor's Haval, Wey, Ora, and Tank brands (Link)
• Uber CEO Dara Khosrowshahi wants Tesla to use the Uber app for its future robotaxi business (Link)
• Li Auto reported January deliveries of 29,927 vehicles, with L6 contributing 46.75% of January deliveries (Link)

• Altilium Metals said research from London's Imperial College showed small batteries made with its recycled cathode active materials perform as well as or better than those made with virgin materials from Chinese suppliers (Link)
• Eramet names Paulo Castellari as next CEO; will assume the CEO position on May 27; since 2019, Castellari has been CEO of the Brazilian branch of Appian Capital Advisory (Link)
• BYD holds mining rights in Brazil’s Lithium Valley, according to Brazilian public records (Link)
• CATL restarts lithium mine, refinery in Jiangxi province (Link)
• Ionic MT appoints Dr. Rajan Patel as Head of Battery Materials (Link)

• Fluence launches AC block BESS solution with ‘industry-leading’ energy density (Link)
• The Nature Conservancy (TNC) and the Cumberland Forest Limited Partnership have entered into an agreement with Sun Tribe Development and ENGIE to build a solar and BESS portfolio in the Appalachians, US; consisting of 14 solar PV plants and three battery storage projects that will be built on 360 acres of former coal mines in the US states of Virginia, Tennessee and Kentucky (Link)
• Energy Vault to provide 200MWh BESS for government-owned project in Victoria, Australia (Link)
• Habitat Energy signs optimisation agreement with Octopus for 50MW/100MWh Texas BESS (Link)
• Apatura, Exagen, Firstway and others land 750MW of BESS planning consent in Great Britain (Link)

• U.S. Senate Republicans proposed a pair of bills to eliminate the $7,500 EV tax credit and impose a new $1,000 tax on EVs to pay for road repairs (Link)
• Australia passes tax incentives law for critical minerals, and will create tax incentives worth 10% of processing and refining costs for 31 critical minerals from the fiscal year ending June 2028 to 2040, for up to 10 years per project (Link)

• Rio Tinto has secured all regulatory approvals to proceed with its $6.7B acquisition of Arcadium Lithium, with the transaction set to close in early March (Link)
• U.S. government has not awarded Tesla a contract to produce “armored” electric cars, a State Department spokesperson said, clarifying a budget document that appeared to detail the agency’s plan to spend $400 million on vehicles from Elon Musk’s automotive giant (Link)
• Power Nickel to raise $28MM for polymetallic project in Québec (Link)
• Nornickel reports 37% drop in 2024 net profit (Link)
• Nornickel is in active talks on a JV in China with potential investments included in early financial plans for 2025-2026 (Link)

Thank you to 20,000+ subscribers for supporting the TWIB newsletter 🚀🚀🚀

Follow Mouda A. for more battery industry insights 🔋

Volta Foundation is the world’s largest network of battery professionals. As a global not-for-profit association of more than 50,000+ battery professionals and 100+ member companies, Volta Foundation produces publications, networking opportunities, and industry resources to foster collaboration, innovation and advocacy within the battery industry. Learn more at https://volta.foundation/.