Battery

The newest entrant from China thinks it could take up nearly a third of the global market over the next five or six years.

The number of shares held by Volkswagen China in Gotion has increased to 441 million shares, raising its stake to 26.47 percent.

BAIC BluePark says its planned third-generation solid-state battery technology will be used in a new Arcfox-branded model with a cell energy density of 360Wh/kg.

The funds will be used mainly to develop new technologies and build new production bases and R&D centers.

Dongfeng Motor's E70 model will be the first to use the battery and is expected to be delivered before the Chinese New Year, which arrives in early February.

From January to November, the cumulative installations of LFP batteries was 64.8 GWh, also surpassing the 63.3 GWh of ternary materials for the first time.

The amount of retired power batteries in China is going up year by year, with the scrap volume expected to exceed 18 GWh in 2021 and reach 91 GWh by 2025, according to TrendForce.

That's nearly double Svolt's previous goal of 320 GWh, and more than the 520 GWh that CATL, currently China's largest power cell supplier, expects it to have by 2025.

Gotion will build the project in two phases, with the first phase to be operational by the end of March 2023.

The battery production line is capable of automated, flexible production and can readily adjust the production capacity of different batteries according to market demand, the company said.