Infographic: China is a driving force in the battery storage revolution

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As the clean energy transition gains pace, the need to address the intermittence of wind and solar is boosting the demand for Battery Energy Storage Systems.

As in other clean energy markets, China is at the forefront of manufacturing and installations—which will lead to an oversupply of systems and cost reductions over time.

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Listen: Black Mass: battery recycling to play a critical role in EVs globally

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Spain awards Eur76 mil to EV supply chain projects

Stellantis, Gestamp main awardees Eur1.6 billion awarded to date Spain’s government awarded Eur76 million ($82 million) in funding to 15 projects linked to the industrial supply chain of electric vehicles in its latest round of recovery funding, with Stellantis and Gestamp being the main winners, the industry ministry said May 10. Stellantis was awarded Eur29 million for its assembly plant in Vigo, while Gestamp was awarded Eur34 million for six EV component sites across Spain. The latest funding follows Eur170 million awarded in February , which included Eur130 million for Mercedes Benz's small van production and Eur10 million for Basquevolt’s solid-state battery development program. The entire PERTE VEC program started with Eur3.5 billion available, of which around Eur1.6 billion has been awarded to date across the first and second calls. A third call is looking to allocate Eur700 million during 2024, while a fourth call will start in H2 2024 with Eur1.2 billion to be made available. Platts, part of S&P Global Commodity Insights, assessed both battery-grade lithium carbonate and hydroxide at $14,800/mt CIF Europe May 10, down 6.3% and 6.9%, respectively, since the start of 2024. Platts Connect: News & Insights (spglobal.com)

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China’s new energy vehicle sales decline 4% on month in April

NEV sales account for 36% of total vehicle sales Lithium prices seen rangebound in near term China's new energy vehicle sales were down 3.7% on the month at 850,000 units in April, the China Association of Automobile Manufacturers (CAAM) said in a report late May 11. CAAM considers pure and hybrid electric vehicles as new energy vehicles. China’s NEV production reached 870,000 units in April, increasing 0.8% on the month to the highest level this year. End-users were on the sidelines amid a fierce price war among automakers that industry sources said was to blame for the decline in April sales. NEV output and sales in April respectively increased 35.9% and 33.5% year on year. NEV sales accounted for 36% of the country’s total vehicle sales in April, the highest on record, S&P Global Commodity Insights calculations showed. China’s total NEV output and sales were 2.99 million units and 2.94 million units in the first four months of 2024, rising 30.3% and 32.3% from the same period a year earlier, CAAM data showed. China’s NEV sales might increase in May on expectations of buying interest from end-users during the Labor Day holidays and government stimulus measures like vehicle trade-in policy and NEVs usage promotion in rural areas, industry sources said. Meanwhile, NEV exports reached 114,000 units in April, rising 13.3% from a year earlier but falling 8.6% from a month ago, CAAM data showed. China’s EV exports are expected to be promising in the longer term despite some near-term interruptions caused by Europe’s anti-subsidy investigation into Chinese NEV makers, industry sources said. Power battery output China’s output of power batteries and energy storage batteries, a key indicator of battery metals consumption, rose 3.2% month on month and 60% year on year to a total of 78.2 GWh in April, driven by increasing demand from NEV producers, according to data from the China Automobile Battery Innovation Alliance, or CABIA. Sales of power batteries and energy storage batteries were 73.5 GWh in April, rising 57% from a year earlier and 0.3% from a month ago, CABIA data showed. Nickel-cobalt-manganese materials used by power batteries and other batteries declined 6.2% from a month ago to 45,400 mt in April. Lithium iron phosphate materials consumed rose 7.8% month on month to 138,500 mt during the period. Lithium salts prices Chinese lithium salts prices may be rangebound in the short term, amid improved supply and demand, market sources said. Rising output from domestic producers and increasing imports are expected to boost supply in the domestic market. Meanwhile, production at downstream consumers is also expected to expand in May although the growth might be lower compared with April. Platts, part of S&P Global Commodity Insights, assessed battery-grade lithium carbonate at Yuan 107,000 ($14,791)/mt on a DDP China basis May 10, Yuan 6,000/mt lower on the month. Market participants have been keeping a close watch on the impact from an environmental protection supervision in Jiangxi, with the central inspection team in the province over May 8-June 8. Platts Connect: News & Insights (spglobal.com)

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Fluence Energy expects to ride US battery boom as storage capacity grows: executives

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Ramp-up of AMG's lithium operations remains on track despite price volatility

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