Save my name, email, and website in this browser for the next time I comment. India too is desperately trying to establish a domestic storage manufacturing industry to avoid being left behind. That study will help Neo Lithium attract more investors and establish a timeline for opening the project, which the company hopes will initially produce 20,000 tons of lithium. Wir und unsere Partner nutzen Cookies und ähnliche Technik, um Daten auf Ihrem Gerät zu speichern und/oder darauf zuzugreifen, für folgende Zwecke: um personalisierte Werbung und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr über die Zielgruppe zu erfahren sowie für die Entwicklung von Produkten. See more newsletter options at autonews.com/newsletters. Select one or more editions for targeted, up to date information delivered straight to your inbox. Stay informed. The number of jobs created will also rise significantly as a result: CATL European head Matthias Zentgraf said instead of 600 employees, more than 2,000 could be hired in the medium term. 1155 Gratiot Avenue Further information on data privacy can be found in our Data Protection Policy. Click here to submit a Letter to the Editor, and we may publish it in print. Your email address will not be published. The deal with CATL was at a 45 percent premium to Neo Lithium's Friday closing stock price. We also offer comprehensive global coverage of the most important solar markets worldwide. Für nähere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklärung und Cookie-Richtlinie. Contemporary Amperex Technology Co., which supplies lithium iron phosphate batteries to Tesla Inc., will pay $6.5 million for its stake in Toronto-based Neo Lithium, the companies said on Monday. To abrogate CATL's concerns about the premium, several Neo Lithium executives agreed to buy roughly 483,000 shares at the same price. China's CATL will buy more than 10 million shares of Neo Lithium Corp. to become the company's third-largest shareholder, the latest in a string of investments by Chinese companies into South American lithium projects. China's CATL will buy more than 10 million shares of Neo Lithium Corp. to become the company's third-largest shareholder, the latest in a string of … Legal Notice Terms and Conditions Privacy Policy © pv magazine 2020, This website uses cookies to anonymously count visitor numbers. China's CATL will buy more than 10 million shares of Neo Lithium Corp to become the company's third-largest shareholder, the latest in a string of … Damit Verizon Media und unsere Partner Ihre personenbezogenen Daten verarbeiten können, wählen Sie bitte 'Ich stimme zu.' 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You can opt out of our newsletters at any time by clicking the unsubscribe link in the footer of every mail. Neo Lithium says it will retain full control over the project's lithium, though China is the world's largest consumer of the white metal and the world's largest EV market. You can unsubscribe at any time through links in these emails. CATL will also gain one seat on Neo Lithium's board and sit on the company's technical committee, where it will help Neo draft a feasibility study for its Tres Quebradas Lithium project in Argentina's northern Catamarca province. Sign up and get the best of Automotive News delivered straight to your email inbox, free of charge. Instead of a planned €240 million, Chinese battery manufacturer Contemporary Amperex Technology Ltd (CATL) will invest up to €1.8 billion in its German battery factory over the next five years. Japan’s Toray to manufacture battery components in Europe – Market reports, News, Jobs, Events, Webinars, Japan’s Toray to manufacture battery components in Europe – Battery Tech Expo, Japan’s Toray to manufacture battery components in Europe, Could EVs start to displace fossil fuel-driven vehicles within five years? If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com. The deal is expected to close later this year after Chinese government approval. According to the company, the battery cells produced there would primarily be intended for European car manufacturers. Join our newsletter. aus oder wählen Sie 'Einstellungen verwalten', um weitere Informationen zu erhalten und eine Auswahl zu treffen. Dazu gehört der Widerspruch gegen die Verarbeitung Ihrer Daten durch Partner für deren berechtigte Interessen. For that reason, CATL has also been looking to secure supply of the metals used to make lithium-ion batteries. We measure how often our emails are opened, and which links our readers click. The new capital injection was announced in a stock exchange update by the Chinese company which said the move was agreed at the end of last month due to rising demand. We send newsletters with the approximate frequency outlined for each edition above, with occasional additional notifications about events and webinars. Please select at least one newsletter to subscribe. ISSN 0005-1551 (print) Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business. Choose your news – we will deliver. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so. CATL aims to improve production and research and development capacity at the facility. The deal, announced on Monday, comes as demand for the electric vehicle battery metal is expected to triple over the next five years as automakers shift their focus away from internal combustion engines to EVs. Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Hold Ctrl or Cmd to select multiple editions. For more information please see our. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled. - pv magazine International - Investing in Green Energy, New 400 MW solar module factory for Germany – pv magazine International - Supply Chain Council of European Union | Scceu.org. Last summer CATL had announced its intention to invest around €240 million in a gigawatt battery cell production facility by 2022 which would create around 600 jobs. Market overview: Large-scale storage systems, Market overview: Microgrid control systems, The smarter E Europe 2019 special edition, Energy Storage North America Special 2018, €240 million in a gigawatt battery cell production facility by 2022, high quality, sustainable battery manufacturing industry. CATL purchased the Solarworld site in Arnstadt, Thuringia, in May to produce battery cells there at a new facility. CATL appears to have stolen a march on its gigafactory storage manufacturing industry rivals. Yes, I'd like to receive email communications on editorial features, special offers, research and events and webinars from Automotive News. Please be mindful of our community standards. 48207-2997, Automotive News Have an opinion about this story? 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