• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 12 hours U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 3 hours Socialists want to exorcise the O&G demon by 2030
  • 4 hours Chevron to Boost Spend on Quick-Return Projects
  • 19 hours What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 2 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 11 hours UK, Stay in EU, Says Tusk
  • 2 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 1 hour Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It's Exist
  • 4 hours Conspiracy - Theory versus Reality
  • 16 hours Maritime Act of 2020 and pending carbon tax effects
  • 1 day Venezuela continues to sink in misery
  • 1 day Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 11 hours Regular Gas dropped to $2.21 per gallon today
Alt Text

The Overlooked Giant In Renewables

The IEA expects renewable energy…

Alt Text

Ivory Coast Pivots Towards Renewables

Rising domestic energy demand in…

Alt Text

Innovations Are Rocking The Battery Industry

Battery technology is advancing at…

MINING.com

MINING.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

More Info

Trending Discussions

Top EV Battery Maker To Build Plant In Europe

China’s Contemporary Amperex Technology (CATL) is said to be ready to start building a battery factory in Germany, planting a flag on the grounds of car giants BMW, Volkswagen and Daimler AG as part of a plan to settle close to most European automakers.

Plant expected to be at the German state of Thuringia.

According to anonymous sources quoted by Reuters, an official signing ceremony will take place at a summit in Berlin with China's Premier Li Keqiang on July 9.

The factory’s location is said to be Thuringia, in east-central Germany, as the state’s Economy Ministry himself hinted to Reuters on Friday, when acknowledging he was negotiating with the Asian company about it.

CATL, China’s No.1 maker of battery cells for electric vehicles (EVs), sold 10% of its stock in an initial public offering to finance expansion beyond its homeland earlier this month.

The successful IPO, Bloomberg reported, gave the company a market value of about $13.5 billion, pushing the net worth of shareholder Pei Zhenhua past the $1bn mark, according to its Billionaires Index.

(Click to enlarge)

Source: IEA’s Global Electric Vehicle Outlook 2018.

BMW, which plans to offer 25 electrified vehicles by 2025, has already awarded CATL a contract worth just over 1 billion euros ($1.16 billion) and other carmakers including Daimler, are said to be in talks with the company over a possible supply deal in Europe.

A battery plant in Germany could help ease an expected negative impact in the country’s automotive industry, highlighted by the IG Metall labour union in early June. The growing adoption of is likely to add 25,000 jobs by 2030, though another 75,000 positions in engine and transmission making are likely to disappear, the study shows.

By Mining.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News