Electric Vehicle And Battery Metal News - February 2019

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SBTV brings you the latest news from around the world on the Electric Vehicle Revolution and Battery Metals.

1)  Amazon Invests in Rivian, a Tesla Rival in Electric Vehicles 

  • Online retail giant is leading a $700 million investment in Rivian, a Michigan company that is developing a battery-powered pickup truck and an electric sport utility vehicle.
  • The deal is the latest example of how the auto industry is being reshaped by new technologies and nimble companies that have raced ahead of many traditional carmakers.
  • Amazon's investment is seen as a good way to enlarge their bet on the EV market without having to tool up a plant to find out if it will succeed.

2)  Volkswagen Boosts Electric-Car Target by 50%, Ventures Into Charging Infrastructure 

  • The VW brand alone will invest about 9 billion euros to roll out 20 electric models by 2025.
  • The electric car is seen as sustainable technology.
  • VW is also part of the Ionity consortium that will install fast-charging stations at 400 locations on European highways.

3)  President Macron to unveil a plan to give Europe's electric battery industry a jolt 

  • France will invest 700 million euros ($790 million) over the next five years into projects to boost the European electric car battery industry.
  • Aims to reduce its carmakers' reliance on dominant Asian battery suppliers.
  • Europe currently has no significant production of the battery packs' constituent cells.

4)  Honda Secures Battery Supply Contract with Battery Manufacturer CATL 

  • Honda secures battery cell supply contract for about 1 million electric vehicles with Contemporary Amperex Technology Co., Ltd. (CATL), one of the largest battery manufacturers in the world.
  •  As part of the new agreement, CATL is guaranteeing Honda a supply of “about 56 GWh of lithium-ion EV batteries before 2027.” 
  • Honda first new standalone all-electric vehicle expected at the end of 2019.
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