Reports have surfaced that Chinese electric vehicle maker XPeng Motors recently started a self-developed batteries project. The firm later denied the rumors.
Even if fuel cell vehicles never catch up with battery-based alternatives, they still just might find a few wide-open lanes.
On November 22, Chinese electric vehicle maker BYD denied recent rumors that its solid-state batteries are about to be loaded into vehicles and that its sodium-ion batteries are entering the test stage.
The public listing of SVOLT, a Chinese lithium-ion battery systems provider, was approved by the Shanghai Stock Exchange on November 18.
Vingroup, the largest private enterprise group in Vietnam, issued a statement on November 18 announcing that the joint venture factory between its battery company, and Gotion High-Tech, a Chinese battery manufacturer, broke ground.
In response to the rumor that "Chinese battery factories plan to reduce production because the price of lithium carbonate exceeds 600,000 yuan ($85,156)/ton", Chinese battery maker EVE Energy said that it is currently operating as per usual.
Chinese battery manufacturer Sunwoda completed its issuance of global depository receipts (GDRs) on November 14 and listed them on the Swiss Stock Exchange, becoming the fourth company also traded publicly in Shenzhen to successfully list GDRs in Europe.
On November 10, Chinese electric vehicle maker NIO released its financial report for the third quarter of 2022. The company achieved revenue of 13.002 billion yuan ($1.81 billion) in the period, up 32.6% year-on-year and achieving positive growth for 10 consecutive quarters.
Sunwoda, a leading Chinese battery company, announced on November 6 that its subsidiary Sunwoda Electric Vehicle Battery (Sunwoda EVB) will serve as a mass production supplier of battery pack systems for Volkswagen AG's HEV project.
Chinese battery manufacturer Gotion High-Tech released its latest financial report on October 26, showing operating income of 14.426 billion yuan ($1.99 billion) in the first three quarters of the year. In addition, batteries supplied by the company to Volkswagen will be installed next year.
Robin Zeng, Chairman of Chinese battery giant CATL, said that, unlike oil, lithium battery's main components can be recycled, adding that the development of the lithium battery industry makes the energy mix in China change from relying on resources to manufacturing and recycling.
The European power battery market is becoming much more important. Many Chinese power battery manufacturers including CATL and BYD also set their sights on the market.
A new entity called NIO Battery Technology (Anhui) Co., Ltd. was established on October 21, with NIO founder William Li serving as chairman and with registered capital of 2 billion ($273 million). The company is 100% controlled by EV firm NIO.
Chinese battery giant CATL disclosed its third-quarter financial report on October 21, showing its revenue reaching 97.4 billion yuan ($13.4 million) in the third quarter and 210.34 billion yuan ($29 million) in the first three quarters.
FAW Toyota, a joint venture between Japanese automaker Toyota and China's First Automobile Works (FAW), announced on October 21 that the pure electric sedan bZ3 loaded with BYD batteries will be unveiled on October 24.
On October 19, SVOLT, a lithium-ion battery system provider, announced that the battery cell modules matching XPeng Motors' P5 models rolled off the production line.
BMW will invest another 10 billion yuan ($1.38 billion) to expand its high-voltage battery production center in China's northeastern city of Shenyang, and that it will generally increase investment in battery projects in the country.
Chinese battery giant CATL announced on October 18 that it has reached an agreement with Primergy Solar LLC, a US-based distributed photovoltaics and energy storage operator, to exclusively supply batteries for its Gemini project.
The batteries produced by BYD in Shanghai are reportedly supplied to 3C (computer, communication and consumer electronics) products and the upgrade of the production line are mainly changes in technology in order to supply Apple.
A previously announced patent for a car chassis with adjustable lengths owned by Chinese battery giant CATL is related to cell-to-chassis (CTC) technology for electric vehicles, and is planned to be implemented before 2025.