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slowdown","european-2030-battery-pipeline-falls-176-gwh-this-year-amid-ev-slowdown","article/european-2030-battery-pipeline-falls-176-gwh-this-year-amid-ev-slowdown",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":683,"featured":51,"reporter":684,"_editable":688,"component":689,"seo_title":543,"categories":690,"visibility":700,"author_company":49,"data_vis_image":701,"featured_image":704,"seo_description":683,"author_full_name":49,"author_job_title":49,"formattedDate":707,"formattedArticleDate":708},"97e11e2b-9e2e-4e3e-b263-0ab79c6ee4b6","2024-09-27 00:00",[550,553,556],{"slug":551,"name":552},"data-visualisation","Data Visualisation",{"slug":554,"name":555},"europe","Europe",{"slug":557,"name":558},"northvolt","Northvolt",[560],{"slug":561,"name":562,"content":563},"matthew-bird","Matthew Bird",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Senior Editor - Supply Chains & Data Visualisation",{"filename":566},"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":570,"content":571},"doc",[572,579,594,603,608,613,618,631,636,643,648,653,658,663,668,673,678],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"A slowdown in European electric vehicle (EV) demand is leading to a cutback in gigafactory expansions as Benchmark analysis shows 176 gigawatt hours (GWh) of capacity has been removed from the pipeline in 2024. ","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582,584,592],{"text":583,"type":578},"EV sales in the European market – comprising the EU, UK, and EFTA – were down an estimated 4% between January and August 2024 compared to the same period last year, according to Benchmark’s ",{"text":585,"type":578,"marks":586},"Lithium ion Battery Forecast",[587],{"type":588,"attrs":589},"link",{"href":590,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://www.benchmarkminerals.com/lithium-ion-batteries/data-reports/forecast/","url",{"text":593,"type":578},". ",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597],{"type":598,"attrs":599},"image",{"id":49,"alt":600,"src":601,"title":49,"source":49,"copyright":49,"meta_data":602},"","https://a.storyblok.com/f/287943243085208/08125602d1/bm-screenshot-2024-09-27-093349.png",{},{"type":573,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":578},"As a result of these market conditions, Northvolt has suspended plans to add another 30 GWh of capacity to its gigafactory in Skellefteå, Sweden, this week. The site currently has 16 GWh of capacity and has struggled to increase production since making its first cell in late 2022.",{"type":573,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":578},"The decision was taken to “ensure that its resources are focused on accelerating production in large-scale cell manufacturing at Northvolt Ett,” according to a statement from Northvolt. ",{"type":573,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":578},"“Whilst it is impossible to discount the challenges associated with competition that has arisen from extremely low cell prices coming from China, particularly for Northvolt’s ESS business, the wider issues have been compounded by the company’s lower than average utilisation rate,” said Evan Hartley, research manager at Benchmark.",{"type":573,"attrs":619,"content":620},{"textAlign":49},[621,623,629],{"text":622,"type":578},"Earlier this month, Northvolt ",{"text":624,"type":578,"marks":625},"halted its cathode material plans",[626],{"type":588,"attrs":627},{"href":628,"uuid":49,"anchor":49,"target":49,"linktype":591},"https://source.benchmarkminerals.com/article/northvolt-halts-european-cathode-plans-to-refocus-on-batteries",{"text":630,"type":578}," to focus on large-scale cell manufacturing.",{"type":573,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":578},"Plans for Northvolt’s future factories – one in Canada, one in Germany, and a joint venture with Volvo in Sweden – could also be delayed.",{"type":637,"attrs":638,"content":640},"heading",{"level":639,"textAlign":49},4,[641],{"text":642,"type":578},"Europe’s EV slowdown",{"type":573,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":578},"Northvolt’s decision comes amid a slowdown in European EV demand growth and a climate of delayed investments and cancellations.",{"type":573,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":578},"Source: Benchmark Lithium ion Battery Database",{"type":573,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":578},"Europe’s year-on-year fall in EV sales comes mostly from Germany, where sales are down 69% year-on-year, according to Benchmark data. This is due to a subsidy-driven spike from Germany which occurred in August of last year, which now no longer exists.",{"type":573,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":578},"“Beyond this, the tough economic climate and affordability of electric vehicles is limiting the market. There are some bright spots, however, the UK for example is up 11%, driven by the Zero Emission Vehicle (ZEV) mandate,” said Luke Gear, an analyst at Benchmark.",{"type":573,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":578},"The ZEV Mandate is a government policy tool that requires car manufacturers to sell a certain percentage of electric vehicles each year. The mandate requires 80% of news cars sold in 2030 to be electric.",{"type":573,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":578},"Global EV sales grew 20% in the first half of 2024 compared to the same period in 2023, according to data from Rho Motion. This growth came predominantly from the Chinese market, in particular from plug-in hybrid (PHEV) sales which rose 70% in the first half of 2024 compared to the previous year. The European EV market only grew 1% over the same period.",{"type":573,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":578},"Over the past year several European EV manufacturers have revised back EV targets, delayed investments, or reported falling revenue:",{"type":573,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":578},"The step change in EU emissions targets next year – a 15% cut in CO2/km from the 2021 baseline –  is expected to revive growth.","A slowdown in European electric vehicle (EV) demand is leading to a cutback in gigafactory expansions as Benchmark analysis shows 176 gigawatt hours (GWh) of capacity has been removed from the pipeline in 2024. EV sales in the European market – comprising the EU, UK, and EFTA – were down an estimated 4% between January […]",[685],{"slug":561,"name":562,"content":686},{"job_title":564,"image":687,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"97e11e2b-9e2e-4e3e-b263-0ab79c6ee4b6\", \"id\": \"\"}-->","article",[691,694,697],{"slug":692,"name":693},"batteries","Batteries",{"slug":695,"name":696},"ev","EV",{"slug":698,"name":699},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":600,"name":600,"focus":600,"title":600,"source":600,"filename":601,"copyright":600,"fieldtype":702,"meta_data":703,"is_external_url":51},"asset",{"alt":600,"title":600,"source":600,"copyright":600},{"id":49,"alt":600,"name":600,"focus":600,"title":600,"source":600,"filename":705,"copyright":600,"fieldtype":702,"meta_data":706,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/0a599f6a7c/bm-northvolt-ett-render.jpg",{"alt":600,"title":600,"source":600,"copyright":600},"Sep 27, 2024","27th September 2024",[],[],1782818129673]