Battery

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.

Gotion said the accident was caused by a problem with the battery pack's protective plate, which was sourced by its partner from another company.

This brings the two non-independent directors on Gotion High-tech's board all from Volkswagen.

Gotion High-tech will supply no less than 2.5 GWh of cells to Great Wall Motor's parts subsidiary in 2022.

Chinese regulators encourage lithium-ion battery makers to enhance technological innovation and reduce production costs.

That lead narrowed in October, as LFP battery installations fell 11.6 percent from September, while ternary battery installations rose 13.5 percent from September.