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and Chinese gigafactory pipelines shrink despite long-term demand growth prospects","european-and-chinese-gigafactory-pipelines-shrink-despite-long-term-demand-growth-prospects","article/european-and-chinese-gigafactory-pipelines-shrink-despite-long-term-demand-growth-prospects",{"_uid":557,"date":558,"tags":559,"editor":578,"content":588,"excerpt":834,"featured":51,"reporter":835,"_editable":839,"component":840,"seo_title":553,"categories":841,"visibility":848,"author_company":49,"data_vis_image":849,"featured_image":854,"seo_description":834,"author_full_name":49,"author_job_title":49,"formattedDate":857,"formattedArticleDate":858},"7a4ab9e3-4e6f-4478-a2ab-d7a090ea960a","2024-06-13 00:00",[560,563,566,569,572,575],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"data-visualisation","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":589,"content":590},"doc",[591,608,637,655,660,681,690,697,702,707,720,739,744,757,762,767,772,777,782,803,811,816,829],{"type":592,"attrs":593,"content":594},"paragraph",{"textAlign":49},[595,598,606],{"text":596,"type":597},"Between January and May this year, 220 gigawatt-hours (GWh) of gigafactory 2030 pipeline capacity has been cancelled or postponed, according to ","text",{"text":599,"type":597,"marks":600},"Benchmark’s Gigafactory Assessment",[601],{"type":602,"attrs":603},"link",{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/capacities","url",{"text":607,"type":597},".",{"type":592,"attrs":609,"content":610},{"textAlign":49},[611,613,619,621,627,629,635],{"text":612,"type":597},"This comes despite increasing demand for batteries from the ",{"text":614,"type":597,"marks":615},"electric vehicle",[616],{"type":602,"attrs":617},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/chinas-nev-sales-rebound-in-march-after-slow-start-this-year",{"text":620,"type":597}," and ",{"text":622,"type":597,"marks":623},"energy storage",[624],{"type":602,"attrs":625},{"href":626,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/energy-storage-demand-boom-in-china-helps-market-double-in-size",{"text":628,"type":597}," markets. ",{"text":630,"type":597,"marks":631},"Benchmark’s Lithium ion Database",[632],{"type":602,"attrs":633},{"href":634,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports",{"text":636,"type":597}," forecasts that battery demand will triple from 1.3 terawatt-hours (TWh) in 2024 to 3.8 TWh in 2030.",{"type":592,"attrs":638,"content":639},{"textAlign":49},[640,642,647,648,653],{"text":641,"type":597},"All of the cancellations have been in ",{"text":562,"type":597,"marks":643},[644],{"type":602,"attrs":645},{"href":646,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/chinese-gigafactory-construction-timelines-lengthen-as-tier-2-and-3-developments-increase",{"text":620,"type":597},{"text":568,"type":597,"marks":649},[650],{"type":602,"attrs":651},{"href":652,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/in-charts-the-state-of-play-in-europes-battery-market",{"text":654,"type":597},", which saw their 2030 gigafactory capacity pipelines shrink 3% and 2%, respectively, between January and May. The US’ pipeline grew slightly by 2%.",{"type":592,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":597},"Europe’s pipeline is set to contract further as Stellantis-backed cell maker ACC paused work on its German and Italian gigafactories this month, citing a need to research lower cost batteries.",{"type":592,"attrs":661,"content":662},{"textAlign":49},[663,665,671,673,679],{"text":664,"type":597},"“2024 was expected to be the ",{"text":666,"type":597,"marks":667},"year of consolidation",[668],{"type":602,"attrs":669},{"href":670,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/gigafactory-pipeline-contraction-could-signal-chinese-battery-consolidation",{"text":672,"type":597}," and stalled plans across the battery supply chain, and we are now starting to see some big profile announcements,” ",{"text":674,"type":597,"marks":675},"Evan Hartley",[676],{"type":602,"attrs":677},{"href":678,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/video/watch/lithium-ion-cell-prices-fall-below-100-per-kwh-battery-market-2023-in-review",{"text":680,"type":597},", a gigafactory analyst at Benchmark, said.",{"type":592,"attrs":682,"content":683},{"textAlign":49},[684],{"type":685,"attrs":686},"image",{"id":49,"alt":687,"src":688,"title":49,"source":49,"copyright":49,"meta_data":689},"Both China and Europe have seen declines in their 2030 gigafactory pipeline so far this year","https://a.storyblok.com/f/287943243085208/c6d4786a1f/bm-yoy-pipleline-growth.png",{},{"type":691,"attrs":692,"content":694},"heading",{"level":693,"textAlign":49},4,[695],{"text":696,"type":597},"Why is China’s pipeline shrinking?",{"type":592,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":597},"The majority of the projects removed from the 2030 pipeline so far this year have been in China, with tier 2 and 3 facilities dominating the list. Between January and May this year, 18 out of the 20 abandoned projects were located in China, representing 74% of the cancelled pipeline capacity.",{"type":592,"attrs":703,"content":704},{"textAlign":49},[705],{"text":706,"type":597},"“A lot of consolidation has occurred at Chinese facilities where low prices combined with struggles with yield means companies have abandoned plans,” Hartley said.",{"type":592,"attrs":708,"content":709},{"textAlign":49},[710,712,718],{"text":711,"type":597},"Benchmark’s ",{"text":713,"type":597,"marks":714},"Lithium ion battery Price Index",[715],{"type":602,"attrs":716},{"href":717,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://www.benchmarkminerals.com/price-assessments/lithium-ion-batteries/portal",{"text":719,"type":597}," has fallen 3.02% so far this year. Cylindrical lithium iron phosphate (LFP) cells (EXW China), for example, are now assessed at $70.62 per kilowatt-hour (kWh) compared to $76.25 per kWh at the end of last year.",{"type":592,"attrs":721,"content":722},{"textAlign":49},[723,728,734,738],{"text":724,"type":597,"marks":725},"Watch Benchmark analyst Evan Hartley ",[726],{"type":727},"italic",{"text":729,"type":597,"marks":730},"discuss cell prices falling below $100/kWh",[731,733],{"type":602,"attrs":732},{"href":678,"uuid":49,"anchor":49,"target":49,"linktype":605},{"type":727},{"text":735,"type":597,"marks":736}," on Benchmark Source",[737],{"type":727},{"text":607,"type":597},{"type":691,"attrs":740,"content":741},{"level":693,"textAlign":49},[742],{"text":743,"type":597},"What’s happening in Europe?",{"type":592,"attrs":745,"content":746},{"textAlign":49},[747,749,755],{"text":748,"type":597},"In Europe, Chinese cell maker SVOLT cancelled its ",{"text":750,"type":597,"marks":751},"Lauchhammer gigafactory in Germany",[752],{"type":602,"attrs":753},{"href":754,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/svolt-files-2-1-billion-ipo-as-it-looks-to-fund-battery-capacity-expansions",{"text":756,"type":597}," due to a “low level of planning security” caused by the “threat of international punitive tariffs to market distortions due to protracted and unevenly distributed subsidies.”",{"type":592,"attrs":758,"content":759},{"textAlign":49},[760],{"text":761,"type":597},"The SVOLT facility would have added 16 GWh of capacity to the 2030 pipeline and the company had already installed some equipment at the site.",{"type":592,"attrs":763,"content":764},{"textAlign":49},[765],{"text":766,"type":597},"Beyond prices and policy, generally sluggish EV demand growth has also been cited as a reason to postpone plans. Volkswagen had planned to build a 40 GWh gigafactory in Eastern Europe due to these market conditions. VW still intends to go ahead with its gigafactories planned for Germany, Spain and Canada.",{"type":592,"attrs":768,"content":769},{"textAlign":49},[770],{"text":771,"type":597},"With ACC now also postponing its European gigafactory plans, Europe’s pipeline will shrink even further. ACC’s Italian and German gigafactories would have each added 40 GWh to Europe’s pipeline.",{"type":691,"attrs":773,"content":774},{"level":693,"textAlign":49},[775],{"text":776,"type":597},"Why is the US’ pipeline growth slowing?",{"type":592,"attrs":778,"content":779},{"textAlign":49},[780],{"text":781,"type":597},"The US’ pipeline grew rapidly after the Inflation Reduction Act (IRA) was announced in August 2022. Between August 2022 and August 2023, the country’s pipeline grew 60%. By contrast Europe’s pipeline grew 16% in the same time period.",{"type":592,"attrs":783,"content":784},{"textAlign":49},[785,787,793,795,801],{"text":786,"type":597},"Yet so far this year, the ",{"text":788,"type":597,"marks":789},"US’ pipeline has grown just 2%",[790],{"type":602,"attrs":791},{"href":792,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/us-gigafactory-rollout-hit-by-setbacks",{"text":794,"type":597},", suggesting the initial buzz from the IRA is tapering and the companies that had announced new gigafactories are now more focused on ",{"text":796,"type":597,"marks":797},"bringing those to fruition",[798],{"type":602,"attrs":799},{"href":800,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/gigafactory-investment-slows-in-first-half-of-2023-as-producers-focus-on-existing-plans",{"text":802,"type":597}," rather than developing new projects.",{"type":592,"attrs":804,"content":805},{"textAlign":49},[806],{"type":685,"attrs":807},{"id":49,"alt":808,"src":809,"title":49,"source":49,"copyright":49,"meta_data":810},"US and Europe 2030 pipeline stalls","https://a.storyblok.com/f/287943243085208/7edd9f7f92/bm-us-eur-pipeline.png",{},{"type":691,"attrs":812,"content":813},{"level":693,"textAlign":49},[814],{"text":815,"type":597},"Could the elections impact the pipeline?",{"type":592,"attrs":817,"content":818},{"textAlign":49},[819,821,827],{"text":820,"type":597},"Both the US and European Union have ",{"text":822,"type":597,"marks":823},"major elections",[824],{"type":602,"attrs":825},{"href":826,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/how-the-battery-industry-could-be-impacted-by-elections-this-year",{"text":828,"type":597}," this year, adding a level of geopolitical uncertainty. For the US, the election result could impact the interpretation of some aspects of the IRA, whereas the European Parliamentary elections may change the bloc’s approach to China.",{"type":592,"attrs":830,"content":831},{"textAlign":49},[832],{"text":833,"type":597},"“Election uncertainty is combined with the fact that most producers are already expending large amounts of effort towards the already announced plants,” Hartley said. “They have not the cash, energy or appetite to build more.”","Between January and May this year, 220 gigawatt-hours (GWh) of gigafactory 2030 pipeline capacity has been cancelled or postponed, according to Benchmark’s Gigafactory Assessment. This comes despite increasing demand for batteries from the electric vehicle and energy storage markets. Benchmark’s Lithium ion Database forecasts that battery demand will triple from 1.3 terawatt-hours (TWh) in 2024 […]",[836],{"slug":580,"name":581,"content":837},{"job_title":583,"image":838,"bio":586,"linkedin":587},{"filename":585},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"7a4ab9e3-4e6f-4478-a2ab-d7a090ea960a\", \"id\": \"\"}-->","article",[842,845],{"slug":843,"name":844},"batteries","Batteries",{"slug":846,"name":847},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":687,"name":850,"focus":850,"title":687,"source":850,"filename":851,"copyright":850,"fieldtype":852,"meta_data":853,"is_external_url":51},"","https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1718033112/www-production/YoY-pipeline-growth-no-Y_1319303167f8/YoY-pipeline-growth-no-Y_1319303167f8.png?_i=AA","asset",{"alt":687,"title":687,"source":850,"copyright":850},{"id":49,"alt":850,"name":850,"focus":850,"title":850,"source":850,"filename":855,"copyright":850,"fieldtype":852,"meta_data":856,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/30f10dc357/bm-1-svolt-uberherrn-gebaude1-rgb.jpg",{"alt":850,"title":850,"source":850,"copyright":850},"Jun 13, 2024","13th June 2024",[],[],1789982575850]