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billion potential boost to US LFP capacity as IRA improves economics","4-billion-potential-boost-to-us-lfp-capacity-as-ira-improves-economics","article/4-billion-potential-boost-to-us-lfp-capacity-as-ira-improves-economics",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":702,"featured":51,"reporter":703,"_editable":707,"component":708,"seo_title":553,"categories":709,"visibility":718,"author_company":49,"featured_image":719,"seo_description":702,"author_full_name":49,"author_job_title":49,"formattedDate":723,"formattedArticleDate":724},"f4eb41d1-ab51-4e11-adff-053ecb6eafe4","2022-10-07 00:00",[560,563],{"slug":561,"name":562},"inflation-reduction-act","Inflation Reduction Act",{"slug":564,"name":565},"usa","USA",[567],{"slug":568,"name":569,"content":570},"matthew-bird","Matthew Bird",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Senior Editor - Supply Chains & Data 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He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":577,"content":578},"doc",[579,586,601,606,611,616,621,626,631,640,647,652,657,662,667,672,677,682,687,692,697],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"A total of $4 billion of possible investments into new lithium iron phosphate batteries and battery materials in the state of Michigan would mark a considerable increase in US production of the cheaper battery material.","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589,591,599],{"text":590,"type":585},"Start-up Our Next Energy said it would invest $1.6 billion in a LFP battery cell and pack plant in the state, while Chinese producer ",{"text":592,"type":585,"marks":593},"Gotion",[594],{"type":595,"attrs":596},"link",{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/gotion-targets-100-gwh-overseas-expansion-as-it-launches-german-battery-pack-plant","url",{"text":600,"type":585}," said it would build battery cathodes and anodes in the state.",{"type":580,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":585},"The deals come as the Inflation Reduction Act is set to significantly improve the economics of producing battery cells in the US. The legislation provides production tax credits of up to $45 a kilowatt-hour to battery producers. It also includes tax credits equal to 10% of the cost of producing electrode materials such as cathodes.",{"type":580,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":585},"Since LFP cells are cheaper to produce per kWh the legislation makes the chemistry even more attractive. In addition, the IRA sets requirements to source battery materials from North America or free trade agreement countries, which will be difficult in the case of cobalt and nickel since neither the Democratic Repulbic of the Congo or Indonesia have an FTA with the US.",{"type":580,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":585},"Currently almost all the world’s LFP battery cells are made in China, with CATL supplying US automakers such as Tesla. China also produces around 99% of the world’s LFP cathode materials, according to Benchmark’s Cathode Forecast.",{"type":580,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":585},"Before this week’s announcements LFP cell production capacity was forecast to be 0.7% of the total US cell capacity in 2030, according to Benchmark.",{"type":580,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":585},"Kore Power is set to start construction this year on a 12 GWh lithium ion battery cell factory in Arizona, while LG Energy Solution’s plant in Michigan may produce LFP battery cells starting in 2023.",{"type":580,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":585},"Overall North American battery cell demand is set to grow more than six-fold by 2030 to 507 GWh, according to Benchmark.",{"type":580,"attrs":632,"content":633},{"textAlign":49},[634],{"type":635,"attrs":636},"image",{"id":49,"alt":637,"src":638,"title":49,"source":49,"copyright":49,"meta_data":639},"","https://a.storyblok.com/f/287943243085208/9ac7b153ea/bm-north-american-cell-demand.png",{},{"type":641,"attrs":642,"content":644},"heading",{"level":643,"textAlign":49},3,[645],{"text":646,"type":585},"Made in the US",{"type":580,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":585},"Our Next Energy said its plant in Van Buren Township would have a capacity of 20 gigawatt-hours by the end of 2027, enough for 200,000 electric vehicle packs a year. It will start production in 2024.",{"type":580,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":585},"The factory marks the “birth of an emerging trend away from NCM based cell factories,” the company said.",{"type":580,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":585},"The company said it will build LFP as well as its anode-free cells at the site, supported by a $215 million state grant. The company’s anode-free cells deposit lithium metal on the anode during the first charge of the battery.",{"type":580,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":585},"Using cell-to-pack technology, Our Next Energy says it can get an energy density of 144 watt hours per kilogram for its LFP battery packs. It also pairs LFP cells with high-energy anode-free cells in one pack to increase the range of an electric vehicle.",{"type":641,"attrs":668,"content":669},{"level":643,"textAlign":49},[670],{"text":671,"type":585},"From China to Michigan",{"type":580,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":585},"Michigan’s governor Gretchen Whitmer said the state had approved $715 million in incentives that would enable Gotion to invest $2.36 billion building a battery components manufacturing facility in Big Rapids.",{"type":580,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":585},"The site will produce 150,000 tonnes of cathode material a year and 50,000 of anode materials a year, the state said. That would be enough for around 67 GWh of battery cells a year, according to Benchmark.",{"type":580,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":585},"The statement did not reveal whether Gotion would also build a cell manufacturing facility. Gotion has made no official comment on the facility.",{"type":580,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":585},"While not specifying the chemistry, Gotion is a large producer of LFP cathode in China, with over 100,000 tonnes a year of production capacity, according to Benchmark’s Cathode Market Assessment.",{"type":580,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":585},"Gotion is also building a 400,000 tonnes a year battery anode project in Inner Mongolia, with the first phase set to produce 100,000 tonnes a year.",{"type":580,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":585},"In December 2021, Gotion said it had signed a deal to supply a “large” American automaker with 200 GWh of LFP batteries between 2023 and 2028, without specifying who the automaker was. The two companies were also studying the possibility of producing LFP in the US, it said at the time.","A total of $4 billion of possible investments into new lithium iron phosphate batteries and battery materials in the state of Michigan would mark a considerable increase in US production of the cheaper battery material. Start-up Our Next Energy said it would invest $1.6 billion in a LFP battery cell and pack plant in the […]",[704],{"slug":568,"name":569,"content":705},{"job_title":571,"image":706,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"f4eb41d1-ab51-4e11-adff-053ecb6eafe4\", \"id\": \"\"}-->","article",[710,713,715],{"slug":711,"name":712},"batteries","Batteries",{"slug":714,"name":299},"cathode",{"slug":716,"name":717},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":637,"name":637,"focus":637,"title":637,"source":637,"filename":720,"copyright":637,"fieldtype":721,"meta_data":722,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/c3263704b9/bm-one-circle-property-128947121c78.png","asset",{"alt":637,"title":637,"source":637,"copyright":637},"Oct 07, 2022","7th October 2022",[],[],1792765751137]