Multiple Automotive Players Continue Investing in Lithium
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Multiple Automotive Players Continue Investing in Lithium

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Antonio Gozain By Antonio Gozain | Senior Journalist and Industry Analyst - Thu, 03/23/2023 - 10:00

This week, Volkswagen announced plans to invest in mines to bring down the cost of battery cells, aiming to meet half of its own demand and sell to third-party customers. Meanwhile, Albemarle, a global leader in essential elements for mobility, announced a US$1.3 billion investment in its new lithium hydroxide plant in South Carolina to help meet growing demand for batteries that power EVs.

 

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Volkswagen to Invest in Mines to Lower Cost of EV Batteries

Through its battery unit PowerCo, Volkswagen plans to invest in mines to lower the cost of battery cells, fulfill half of its own demand in the EU and North America and sell to third-party customers.

Volkswagen was partnering on supply deals with mining companies in Canada, where it will build its first North American battery plant. “In the future, there will be a select number of battery standards. Through our large volume and third-party sales business, we want to be one of those standards,” says Thomas Schmall, Board Member, Volkswagen.

Albemarle to Invest Over US$1 billion in Lithium Plant

Albemarle announced plans to locate its previously announced lithium hydroxide Mega-Flex facility in Chester County, South Carolina.

The term Mega-Flex refers to the facility’s future ability to process diverse lithium feedstock, including lithium from recycled batteries. The plant is expected to produce about 50,000 metric tons of battery-grade lithium hydroxide from multiple sources, with the potential to expand up to 100,000 metric tons. Production at the facility would support the manufacturing of about 2.4 million electric vehicles annually, says the company.

Mexico Retains Seventh Place in Global Vehicle Production

Mexico has maintained its position as the seventh largest manufacturer of light vehicles in the world for the third consecutive year. The country produced over 3.5 million units in 2022, a figure 10% higher than the previous year.

GM Agrees to 10% Wage Raise at Silao Assembly Plant

Workers at the GM plant in Silao, Mexico, have agreed to a 10% salary increase, one of the biggest wage hikes in the history of the country’s automotive sector. The new deal will be effective as of March 25 and will be valid for one year.

Omoda, Jaecoo Become Independent from Chirey Mexico

Chinese automaker Chirey announced that Omoda will start operating as an independent brand in Mexico, rather than just another model within Chirey’s portfolio, thanks to its commercial success in the country.

ZF Aftermarket Expands Domestic Distribution Network in Mexico

ZF Group has announced plans to expand its domestic distribution network for commercial vehicle aftermarket products and services in Mexico. Beginning on April 1, ZF Aftermarket will distribute ZF, Lemförder, Sachs, TRW and WABCO aftermarket products from an expanded facility in Guadalajara to commercial vehicle distributors and OE suppliers throughout the country.

Photo by:   MBP

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