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TWh","battery-gigafactory-plans-accelerate-in-2022-as-planned-capacity-tops-8-twh","article/battery-gigafactory-plans-accelerate-in-2022-as-planned-capacity-tops-8-twh",{"_uid":547,"date":548,"tags":549,"editor":550,"content":560,"excerpt":681,"featured":51,"reporter":682,"_editable":686,"component":687,"seo_title":543,"categories":688,"visibility":695,"author_company":49,"featured_image":696,"seo_description":681,"author_full_name":49,"author_job_title":49,"formattedDate":700,"formattedArticleDate":701},"24d7e458-e188-42cd-95f9-aa42f9cb1d71","2022-12-28 00:00",[],[551],{"slug":552,"name":553,"content":554},"matthew-bird","Matthew Bird",{"job_title":555,"image":556,"bio":558,"linkedin":559},"Senior Editor - Supply Chains & Data Visualisation",{"filename":557},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. 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":561,"content":562},"doc",[563,580,585,590,595,600,605,614,621,626,631,636,641,646,651,656,661,666,671,676],{"type":564,"attrs":565,"content":566},"paragraph",{"textAlign":49},[567,570,578],{"text":568,"type":569},"Investment in ","text",{"text":571,"type":569,"marks":572},"battery gigafactories",[573],{"type":574,"attrs":575},"link",{"href":576,"uuid":49,"anchor":49,"target":49,"linktype":577},"https://source.benchmarkminerals.com/article/nine-companies-control-half-of-gigafactory-capacity-as-pipeline-exceeds-7-twh","url",{"text":579,"type":569}," accelerated in 2022, with the amount of global lithium ion production capacity due to come online by 2031 rising by 60% to over eight terawatt-hours, as the US caught up to Europe in terms of plants under construction.",{"type":564,"attrs":581,"content":582},{"textAlign":49},[583],{"text":584,"type":569},"Lithium ion battery production in the pipeline increased by 3,016 gigawatt-hours this year from a year earlier to 8,024 GWh, according to Benchmark’s Gigafactory Assessment, with a total of 363 battery plants in operation or under construction. ",{"type":564,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":569},"China continues to be the largest producer of lithium ion batteries by a large margin, with planned capacity rising by over 65% in 2022 compared to a year earlier to over five TWh. The country accounted for around 60% of global electric vehicle sales this year.  ",{"type":564,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":569},"But North America caught up in terms of the pace of new investments. Total pipeline capacity in the region increased by 49% in 2022 from a year earlier to 1,047 GWh, according to Benchmark. ",{"type":564,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":569},"That took planned capacity in the region closer to Europe, where pipeline capacity rose by 40% to 1,193 GWh in 2022. ",{"type":564,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":569},"“One of the key reasons for global capacity growth in 2022 has been the growth of ex-China plants,” Evan Hartley, an analyst at Benchmark, said. “Driven both by Chinese players looking to expand their global presence, and western markets seeking to establish local supply chains.” ",{"type":564,"attrs":606,"content":607},{"textAlign":49},[608],{"type":609,"attrs":610},"image",{"id":49,"alt":611,"src":612,"title":49,"source":49,"copyright":49,"meta_data":613},"","https://a.storyblok.com/f/287943243085208/0d719b0331/bm-gigafactory-battery-capacity-pipeline-speeds-to-8-twh-from-1-twh-in-four-years.png",{},{"type":615,"attrs":616,"content":618},"heading",{"level":617,"textAlign":49},4,[619],{"text":620,"type":569},"The US battery belt ",{"type":564,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":569},"South Korean battery producers inked multiple deals to build production capacity in the US following the passing of the Inflation Reduction Act in August. ",{"type":564,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":569},"The legislation offers tax credits of up to $45 a kWh for the production of battery cells and modules in the US. ",{"type":564,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":569},"LG Energy Solution cemented its position as the leading cell producer in North America during the year, confirming its intention to increase target capacity to 50 GWh at its joint venture plant with General Motors in Spring Hill, Tennessee.",{"type":564,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":569},"LGES is set to have 295 GWh of battery production capacity in North America by 2031, out of a total of 620 GWh globally. ",{"type":564,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":569},"Last month fellow South Korean producer SK Innovation signed an agreement with Hyundai to invest $4 billion in battery production in Georgia, with a targeted capacity of 40 GWh. The company is set to have 200 GWh of battery capacity in North America by 2031, according to Benchmark. ",{"type":564,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":569},"New entrants also announced plans for US capacity during the year. In early December, US battery startup American Battery Factory said it would invest $1.2 billion to build a lithium iron phosphate plant in Tuscon, Arizona. ",{"type":615,"attrs":652,"content":653},{"level":617,"textAlign":49},[654],{"text":655,"type":569},"Chinese go global ",{"type":564,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":569},"Chinese battery producers continued to invest in new capacity at home during 2022, led by the largest producers CATL and BYD. ",{"type":564,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":569},"Yet smaller competitors Sunwoda and SVOLT also plan to add 257 GWh and 283 GWh of battery capacity respectively by 2035, which would move them both into the top five manufacturers by capacity in China.",{"type":564,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":569},"Chinese battery companies are also increasingly invested in overseas markets. ",{"type":564,"attrs":672,"content":673},{"textAlign":49},[674],{"text":675,"type":569},"Producer EVE Energy said it would invest RMB 2.9 billion ($416 million) to build a nickel cobalt manganese (NCM) plant in Malaysia, while Gotion said it had entered a joint venture with Vietnam’s VinFast to build five GWh of lithium iron phosphate capacity in Vietnam.",{"type":564,"attrs":677,"content":678},{"textAlign":49},[679],{"text":680,"type":569},"In Europe, CATL started production at its plant in Germany in December, its first plant outside of China. CATL plans to expand the plant to a capacity of 14 GWh a year. ","Investment in battery gigafactories accelerated in 2022, with the amount of global lithium ion production capacity due to come online by 2031 rising by 60% to over eight terawatt-hours, as the US caught up to Europe in terms of plants under construction. Lithium ion battery production in the pipeline increased by 3,016 gigawatt-hours this year […]",[683],{"slug":552,"name":553,"content":684},{"job_title":555,"image":685,"bio":558,"linkedin":559},{"filename":557},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"24d7e458-e188-42cd-95f9-aa42f9cb1d71\", \"id\": \"\"}-->","article",[689,692],{"slug":690,"name":691},"batteries","Batteries",{"slug":693,"name":694},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":611,"name":611,"focus":611,"title":611,"source":611,"filename":697,"copyright":611,"fieldtype":698,"meta_data":699,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/19ea41dd9e/bm-ultium-cells-lansing-rendering-129376623b79.jpg","asset",{"alt":611,"title":611,"source":611,"copyright":611},"Dec 28, 2022","28th December 2022",[],[],1780932610703]