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Gotion follows CATL playbook with nickel investment","chinas-gotion-follows-catl-playbook-with-nickel-investment","article/chinas-gotion-follows-catl-playbook-with-nickel-investment",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":795,"featured":51,"reporter":796,"_editable":800,"component":801,"seo_title":553,"categories":802,"visibility":813,"author_company":49,"featured_image":814,"seo_description":795,"author_full_name":49,"author_job_title":49,"formattedDate":819,"formattedArticleDate":820},"78f963fa-75c3-4d79-8022-ad79a6e7c5bc","2023-09-20 00:00",[560,563],{"slug":561,"name":562},"gotion","Gotion",{"slug":564,"name":565},"indonesia","Indonesia",[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 Visualisation",{"filename":573},"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":577,"content":578},"doc",[579,586,609,622,627,632,644,649,656,661,666,671,676,689,694,699,719,732,737,742,747,759,772,777,790],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"Chinese battery cell producer Gotion High-Tech has agreed to build a nickel processing plant in Indonesia, in the latest sign of battery producers directly sourcing raw materials.","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589,591,599,601,607],{"text":590,"type":585},"The plant with Indonesia’s Anugrah Neo Energy Materials will have a production capacity of 120,000 tonnes of ",{"text":592,"type":585,"marks":593},"nickel",[594],{"type":595,"attrs":596},"link",{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/video/watch/analyst-insights-nickel-a-market-in-flux","url",{"text":600,"type":585}," in the form of mixed hydroxide precipitate (MHP), an ",{"text":602,"type":585,"marks":603},"intermediate product which also contains cobalt",[604],{"type":595,"attrs":605},{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/two-fifths-of-cobalt-could-come-from-nickel-mines-by-2030",{"text":608,"type":585},".",{"type":580,"attrs":610,"content":611},{"textAlign":49},[612,614,620],{"text":613,"type":585},"It comes as the ",{"text":615,"type":585,"marks":616},"Indonesian government",[617],{"type":595,"attrs":618},{"href":619,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/video/watch/analyst-insights-the-rise-of-indonesia-in-the-nickel-supply-chain",{"text":621,"type":585}," last month announced plans to restrict the building of new nickel smelters for the stainless steel industry to prevent overproduction of nickel pig iron (NPI) and to encourage investment in high pressure acid leaching (HPAL) projects that can support the fledgling battery industry.",{"type":580,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":585},"“The suspension of nickel smelters basically stops any new NPI manufacturers setting up,” Spencer Ingall, an analyst at Benchmark, said. “The fact that a week or two after this statement, the Gotion deal was announced, is proof that the Indonesian authorities are looking much more favourably on MHP production than NPI production.”",{"type":580,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":585},"Indonesia’s plan to stop the construction of new pyrometallurgical smelters follows the country’s ban on the export of unprocessed nickel ore in 2020 in order to capture more of the value add of its growing nickel industry.",{"type":580,"attrs":633,"content":634},{"textAlign":49},[635,637,643],{"text":636,"type":585},"This year, Indonesia is forecast to produce 50% of the world’s nickel, potentially rising to 65% in 2030 according to ",{"text":638,"type":585,"marks":639},"Benchmark’s Nickel Forecast",[640],{"type":595,"attrs":641},{"href":642,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://www.benchmarkminerals.com/forecasts/nickel",{"text":608,"type":585},{"type":580,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":585},"The Indonesian Ministry for Industry said that the HPAL project that Gotion is involved in will eventually integrate to include direct sourcing of the nickel ore and production of nickel and cobalt sulphate.",{"type":650,"attrs":651,"content":653},"heading",{"level":652,"textAlign":49},4,[654],{"text":655,"type":585},"Downstream securing nickel",{"type":580,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":585},"Gotion is now part of a growing club of downstream players looking to secure nickel production.",{"type":580,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":585},"“Gotion building their own nickel plant means they have a complete nickel supply chain, from ore to battery, something very few battery manufacturers have,” Ingall said.",{"type":580,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":585},"In April last year, China’s CATL–the world’s largest battery producer–announced it would jointly invest $6 billion into an Indonesian battery hub. This project will include cell production and recycling as well as nickel mining, processing and battery material production.",{"type":580,"attrs":672,"content":673},{"textAlign":49},[674],{"text":675,"type":585},"Last month, Hyundai Motor Group announced its intent to buy a 5% stake in Korea Zinc for KRW 530 billion ($400 million) as part of the automaker’s drive to secure nickel.",{"type":580,"attrs":677,"content":678},{"textAlign":49},[679,681,687],{"text":680,"type":585},"In March this year, Ford announced it would invest ",{"text":682,"type":585,"marks":683},"$4.5 billion for a  17% stake in a nickel processing project",[684],{"type":595,"attrs":685},{"href":686,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/investment-in-indonesian-nickel-diversifies-from-china-as-ford-joins-4-5-billion-project",{"text":688,"type":585}," being built in Indonesia by Vale and Huayou Cobalt.",{"type":580,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":585},"Earlier this year, Volkswagen’s PowerCo, Stellantis, and commodity trader Glencore each committed $100 million to back a $1 billion deal to buy two Brazilian mines–one copper and one nickel.",{"type":580,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":585},"“With the incoming nickel deficit around 2027, battery makers are trying to secure a stable supply of nickel,” Ingall said.",{"type":580,"attrs":700,"content":701},{"textAlign":49},[702,704,710,712,718],{"text":703,"type":585},"Tesla, too, has made deals to secure nickel supplies such as backing a nickel mine in Goro, New Caledonia. The company also has deals for nickel from Vale’s Canadian operations and has an offtake agreed with ",{"text":705,"type":585,"marks":706},"Talon Metals",[707],{"type":595,"attrs":708},{"href":709,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/tesla-and-bhp-back-nickel-projects-to-develop-supply-outside-of-indonesia",{"text":711,"type":585},", which recently entered an agreement with the ",{"text":713,"type":585,"marks":714},"US Department of Defence to increase domestic nickel production",[715],{"type":595,"attrs":716},{"href":717,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/us-department-of-defense-awards-110-million-to-boost-lithium-and-nickel-mining",{"text":608,"type":585},{"type":580,"attrs":720,"content":721},{"textAlign":49},[722,724,730],{"text":723,"type":585},"Last year, the ",{"text":725,"type":585,"marks":726},"company faced pushback from some environmental groups",[727],{"type":595,"attrs":728},{"href":729,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/automakers-esg-woes-grow-over-indonesian-nickel",{"text":731,"type":585}," over its plans to use Indonesian nickel.",{"type":650,"attrs":733,"content":734},{"level":652,"textAlign":49},[735],{"text":736,"type":585},"Gotion’s expansion outside of China",{"type":580,"attrs":738,"content":739},{"textAlign":49},[740],{"text":741,"type":585},"Beyond investments into nickel, Gotion has made a flurry of announcements outside of China.",{"type":580,"attrs":743,"content":744},{"textAlign":49},[745],{"text":746,"type":585},"On Monday this week, the company announced it would build a 20 GWh gigafactory in Europe with the Slovakian battery maker Inobat, which Gotion has a 25% stake in. Construction is due to commence in 2024 and production in 2026. The exact location of the facility has yet to be announced.",{"type":580,"attrs":748,"content":749},{"textAlign":49},[750,752,758],{"text":751,"type":585},"It also opened a ",{"text":753,"type":585,"marks":754},"battery pack plant in Germany this month",[755],{"type":595,"attrs":756},{"href":757,"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",{"text":608,"type":585},{"type":580,"attrs":760,"content":761},{"textAlign":49},[762,764,770],{"text":763,"type":585},"In the US, ",{"text":765,"type":585,"marks":766},"Gotion has plans to build gigafactories",[767],{"type":595,"attrs":768},{"href":769,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/us-planned-lfp-battery-production-capacity-soars-past-europe-with-lges-and-gotion-plants",{"text":771,"type":585}," in Michigan and Illinois with investments of $2.36 billion and $2 billion, respectively.",{"type":580,"attrs":773,"content":774},{"textAlign":49},[775],{"text":776,"type":585},"It also began construction of a 5 GWh LFP gigafactory in Vietnam last year in partnership with Vinfast.",{"type":580,"attrs":778,"content":779},{"textAlign":49},[780,782,788],{"text":781,"type":585},"“It’s a growing part of a wider trend we’ve seen over the past year or so, whereby Chinese companies enter into JVs, and sign cooperation agreements, with local companies in both Europe and North America, in order to mitigate any future penalties for Chinese reliant supply chains,” ",{"text":783,"type":585,"marks":784},"Evan Hartley",[785],{"type":595,"attrs":786},{"href":787,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/video/watch/analyst-insights-takeaways-from-benchmarks-china-gigafactory-field-trip",{"text":789,"type":585},", an analyst at Benchmark, said.",{"type":580,"attrs":791,"content":792},{"textAlign":49},[793],{"text":794,"type":585},"“Gotion is being particularly ambitious in its global strategy, leading a two front war if you will, aiming to establish multiple big projects in both the US and Europe.” ","Chinese battery cell producer Gotion High-Tech has agreed to build a nickel processing plant in Indonesia, in the latest sign of battery producers directly sourcing raw materials. The plant with Indonesia’s Anugrah Neo Energy Materials will have a production capacity of 120,000 tonnes of nickel in the form of mixed hydroxide precipitate (MHP), an intermediate […]",[797],{"slug":568,"name":569,"content":798},{"job_title":571,"image":799,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"78f963fa-75c3-4d79-8022-ad79a6e7c5bc\", \"id\": \"\"}-->","article",[803,806,809,812],{"slug":804,"name":805},"batteries","Batteries",{"slug":807,"name":808},"critical-minerals","Critical Minerals",{"slug":810,"name":811},"gigafactories","Battery & Gigafactory",{"slug":592,"name":150},"private",{"id":49,"alt":815,"name":815,"focus":815,"title":815,"source":815,"filename":816,"copyright":815,"fieldtype":817,"meta_data":818,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/5383b462ed/bm-shutterstock-2176927741-1.jpg","asset",{"alt":815,"title":815,"source":815,"copyright":815},"Sep 20, 2023","20th September 2023",[],[],1792773910479]