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South Korea Has $41 Billion EV Battery Plan

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South Korea has a 40.6 trillion won ($41.2 billion) plan to become an even bigger EV battery giant by the end of the decade, The Business Times has reported. The nation unveiled the plan and noted that LG Energy Solution, SK Innovation, and Samsung SDI will be key players. (They are already three of the biggest EV battery manufacturers in the world.) The companies will drive investment in research and development and also battery production.

South Korea accounted for a third of the global market in batteries for EVs in the first 5 months of this year. Each of the companies is expanding and adding facilities overseas in order to meet the growing demand for EVs abroad. Combined, their production capacities almost quadrupled to 217 gigawatt-hours (GWh) in 2020 from 59 GWh in 2016, the government stated.

Chinas’ Contemporary Amperex Technology, Limited (CATL) accounted for another 31% of EV battery sales this year through May, SNE Research pointed out. The firm expects the global battery market to grow to around $352 billion (US) in 2030, from $46 billion last year.

In a statement, LG Energy said that it has plans to invest 15.1 trillion won ($13.14 billion) by 2030, including 9.7 trillion won ($8.44 billion) into R&D. The company will build an institute in South Korea that will provide battery technology training. The expected completion for the facility is January 2023. LG Energy also stated that it has an EV order book worth over 180 trillion won ($156.67 billion).

The South Korean government, LG Energy, SK Innovation, and Samsung SDI will each contribute to the investment fund. South Korea is planning to develop a used-battery industry as well. President Moon Jae-in’s administration pledged to support the companies developing next-generation products and these include solid-state batteries The administration has an 80 billion won ($69.64 million) fund that will help smaller and medium-sized firms strengthen their ability to provide battery-making materials and components.

For those who still think that there is no demand for EVs, it’s important to take note that South Korea is seeing the demand and taking it seriously. The Korea Herald reported that three of the nation’s EV battery makers accounted for a third of the global market during the first five months of this year. The sales of EV batteries rose in line with solid demand for EVs from major automakers.

In a report, SNE Research said, “The Korean battery trio, which posted a strong performance last year, is losing its share to Chinese manufacturers this year.” It added, “The global competition is expected to intensify as the Chinese market keeps growing and Chinese battery manufactures are expanding their presence in the European market.”


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Source: https://cleantechnica.com/2021/07/14/south-korea-has-41-billion-ev-battery-plan/

Cleantech

Tesla Will Hold AI Day 2021 On August 19

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Zach is tryin’ to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

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Source: https://cleantechnica.com/2021/07/29/tesla-will-hold-ai-day-2021-on-august-19/

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Cleantech

Tesla Will Hold AI Day 2021 On August 19

Published

on

Zach is tryin’ to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://cleantechnica.com/2021/07/29/tesla-will-hold-ai-day-2021-on-august-19/

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Want A Tesla Megapack? Get In Line And Wait Your Turn.

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In our article about what to expect during this week’s Tesla earnings call, one of the topics we thought would come up was energy storage — Powerwalls and Megapacks — and it did. Elon Musk has said he thinks profits from the energy storage business will one day equal or exceed those from manufacturing cars and trucks.

My colleague Martin Vinkhuysen has already written about Musk’s projection that Tesla will soon be selling 1 million Powerwall residential storage batteries a year. But what slipped by during the conference call was Musk’s statement that the Megapack grid-scale battery storage system is sold out through the end of next year.

“We have a significant unmet demand in stationary storage. Megapack is basically sold out through the end of next year, I believe,” Elon Musk said in response to a question from New Street Research analyst Pierre Ferragu. That’s right. If you are a utility company or a renewable energy company that wants to add a Tesla Powerpack or two (or a hundred), get in line.

“As all transitions to sustainable energy production, solar and wind are intermittent and by their nature really need battery packs in order to provide a steady flow of electricity. And when you look at all the utilities in the world, this is a vast amount of batteries that are needed. That’s why in the long term, we really think sort of combined Tesla and suppliers need to produce at least 1,000 gigawatt-hours a year, and maybe 2,000 gigawatt-hours a year,” Musk said on Monday.

2,000 MWh? Holy anodes, Batman. Musk told those on the earnings call that Tesla expects to see a significant increase in battery cells from its existing suppliers and has contracts with them to nearly double their cell supply in 2022. It is thinking of overshooting cell supply estimates for vehicles and routing excess batteries to Megapack and Powerwall production.

Are the latest 4680 battery cells destined for energy storage purposes, asked Pierre Feragu? Is Tesla planning to share its 4680 technology with its suppliers, so they can manufacture those cells? Musk did not specifically answer that question, so draw your own conclusions.

A few weeks before the earnings call, Tesla updated the order page for the Megapack with new details and prices. It now shows the Megapack has a starting price of about $1.2 million per unit, depending on which state or US territory the installation will take place in. Potential Tesla customers can order up to 1,000 Megapacks, which would cost around $850 million. That works out to $278 per kWh installed. Related story from last October: “Tesla Megapack, Powerpack, & Powerwall Battery Storage Prices Per KWh — Exclusive.

Is Musk’s prediction that energy storage could become a major source of income for Tesla correct? It certainly seems that way, particularly if it can obtain the battery cells it needs to meet the demand. Having enough orders to keep its energy storage division busy for the next 18 months certainly seems to be a hopeful sign and one that many analysts and Tesla watchers overlook.

Tesla’s Solar Roof may or may not ever take off, but its energy storage business is certainly in high gear. As more utility companies see their competitors adding grid-scale battery storage and reaping the rewards, business is only going to get better.

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.


 



 


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Source: https://cleantechnica.com/2021/07/28/want-a-tesla-megapack-get-in-line-and-wait-your-turn/

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Cleantech

Want A Tesla Megapack? Get In Line And Wait Your Turn.

Published

on

In our article about what to expect during this week’s Tesla earnings call, one of the topics we thought would come up was energy storage — Powerwalls and Megapacks — and it did. Elon Musk has said he thinks profits from the energy storage business will one day equal or exceed those from manufacturing cars and trucks.

My colleague Martin Vinkhuysen has already written about Musk’s projection that Tesla will soon be selling 1 million Powerwall residential storage batteries a year. But what slipped by during the conference call was Musk’s statement that the Megapack grid-scale battery storage system is sold out through the end of next year.

“We have a significant unmet demand in stationary storage. Megapack is basically sold out through the end of next year, I believe,” Elon Musk said in response to a question from New Street Research analyst Pierre Ferragu. That’s right. If you are a utility company or a renewable energy company that wants to add a Tesla Powerpack or two (or a hundred), get in line.

“As all transitions to sustainable energy production, solar and wind are intermittent and by their nature really need battery packs in order to provide a steady flow of electricity. And when you look at all the utilities in the world, this is a vast amount of batteries that are needed. That’s why in the long term, we really think sort of combined Tesla and suppliers need to produce at least 1,000 gigawatt-hours a year, and maybe 2,000 gigawatt-hours a year,” Musk said on Monday.

2,000 MWh? Holy anodes, Batman. Musk told those on the earnings call that Tesla expects to see a significant increase in battery cells from its existing suppliers and has contracts with them to nearly double their cell supply in 2022. It is thinking of overshooting cell supply estimates for vehicles and routing excess batteries to Megapack and Powerwall production.

Are the latest 4680 battery cells destined for energy storage purposes, asked Pierre Feragu? Is Tesla planning to share its 4680 technology with its suppliers, so they can manufacture those cells? Musk did not specifically answer that question, so draw your own conclusions.

A few weeks before the earnings call, Tesla updated the order page for the Megapack with new details and prices. It now shows the Megapack has a starting price of about $1.2 million per unit, depending on which state or US territory the installation will take place in. Potential Tesla customers can order up to 1,000 Megapacks, which would cost around $850 million. That works out to $278 per kWh installed. Related story from last October: “Tesla Megapack, Powerpack, & Powerwall Battery Storage Prices Per KWh — Exclusive.

Is Musk’s prediction that energy storage could become a major source of income for Tesla correct? It certainly seems that way, particularly if it can obtain the battery cells it needs to meet the demand. Having enough orders to keep its energy storage division busy for the next 18 months certainly seems to be a hopeful sign and one that many analysts and Tesla watchers overlook.

Tesla’s Solar Roof may or may not ever take off, but its energy storage business is certainly in high gear. As more utility companies see their competitors adding grid-scale battery storage and reaping the rewards, business is only going to get better.

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.


 



 


Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://cleantechnica.com/2021/07/28/want-a-tesla-megapack-get-in-line-and-wait-your-turn/

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