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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":722,"relatedVideos":723},112473352204230,"055b2146-526f-40f5-ad22-a3e2bc509f50","Northvolt-Volvo battery plant increases Europe’s pipeline to 23 gigafactories","northvolt-volvo-battery-plant-increases-europes-pipeline-to-23-gigafactories","article/northvolt-volvo-battery-plant-increases-europes-pipeline-to-23-gigafactories",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":700,"featured":50,"reporter":701,"_editable":705,"component":706,"seo_title":543,"categories":707,"visibility":714,"author_company":49,"featured_image":715,"seo_description":700,"author_full_name":49,"author_job_title":49,"formattedDate":720,"formattedArticleDate":721},"cdb6160a-656a-4717-84e6-86f59e8efd04","2021-06-25 00:00",[550],{"slug":551,"name":552},"europe","Europe",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":564,"content":565},"doc",[566,573,578,583,588,593,598,603,610,615,620,625,630,635,640,645,650,655,660,665,670,675,680,685,690,695],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"Volvo Car Group and Northvolt have announced a 50/50 joint venture to build a megafactory in Europe, taking the number of megafactories in the pipeline on the continent to 23.","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"The partnership will see the two companies establish a megafactory with up to 50 GWh of capacity, aiming to start production in 2026.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581],{"text":582,"type":572},"Volvo also announced that it would source 15 GWh of lithium ion cells from the Northvolt Ett plant which is under development in Skellefteå, Sweden, and due to come online at the end of this year with a planned final capacity of 60 GWh.",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"In the first steps of the JV the two companies will set up a research and development centre in Sweden which is due to begin operating in 2022.",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"Volvo is aiming for pure electric vehicles to account for 50% of sales by 2025 and 100% by the end of the decade, as such it will be heavily reliant on cell supply ramping from both Northvolt Ett and the newly announced megafactory.",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"Northvolt’s rapid rise to prominence in Europe has seen the company secure billions of dollars in funding – its latest equity raise this month secured $2.75 billion to fund the expansion of Northvolt Ett from 40 GWh to 60 GWh capacity.",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":572},"The company has also developed close ties with Europe’s automakers, particularly Volkswagen which committed to a $14 billion supply deal with Northvolt in Q1 this year and owns a stake in the company.",{"type":604,"attrs":605,"content":607},"heading",{"level":606,"textAlign":49},4,[608],{"text":609,"type":572},"Volvo’s Chinese connection",{"type":567,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":572},"Volvo is owned by Chinese automaker Geely, which has been building out its lithium ion cell capacity considerably on the Chinese mainland and is one of the country’s leading integrated automakers behind BYD and Great Wall Motors.",{"type":567,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":572},"Including its joint ventures with CATL, LG Chem, and Farasis, Geely has 88 GWh of capacity in the pipeline for 2030 in China according to Benchmark’s Lithium ion Battery Megafactory Assessment.",{"type":567,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":572},"However, this capacity is unlikely to be utilised for Volvo’s European operations which will need to operate under the EU’s rules of origin and in a European market with increased focus on life cycle and localisation of the lithium ion supply chain.",{"type":604,"attrs":626,"content":627},{"level":606,"textAlign":49},[628],{"text":629,"type":572},"Europe’s pipeline",{"type":567,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":572},"Volvo joins automakers Tesla, Volkswagen, Stellantis (Fiat Chrysler and PSA merger), and Opel with pipeline capacity in Europe.",{"type":567,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":572},"Prior to the Volvo-Northvolt JV announcement, Europe had 22 lithium ion plants with 641.2 GWh of capacity in the pipeline for 2030. By the end of 2021 six of these plants will be operational, including Northvolt Ett which is expected to come online later this year, with European capacity reaching 79.6 GWh.",{"type":567,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":572},"This ramp up in cell capacity will require significant midstream and upstream developments if European end-market manufacturers intend to localise their supply chains.",{"type":567,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":572},"While Europe has limited raw material supply, it is beginning to build out this downstream capacity. Europe does not currently have commercial scale cathode production capacity, but Johnson Matthey, BASF, and Umicore are all developing plants which will go some way to change this.",{"type":567,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":572},"European OEMs will increasingly look to localise aspects of their supply chains to meet the Rules of Origin set out in the Trade and Cooperation Agreement established between the EU and UK, which are being phased in between 2021 and 2026, before becoming permanent in 2027.",{"type":567,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":572},"To qualify for tariff free trade within the EU and UK from 2027, 55% of the value of electric vehicles must be made up of EU or UK parts, for the battery this rises to 65%.",{"type":567,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":572},"Further incentive to localise lithium ion supply chains in Europe comes from the European Commission’s updates to existing battery directives, which will place additional scrutiny on the life cycle and carbon footprint of battery cells sold on the continent.",{"type":604,"attrs":666,"content":667},{"level":606,"textAlign":49},[668],{"text":669,"type":572},"The battery blueprint",{"type":567,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":572},"The Volvo-Northvolt announcement is the latest in a long line of auto-battery alliances which have come to shape the transition to electric vehicles.",{"type":567,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":572},"This blueprint forged by Tesla and Panasonic with the development of the Gigafactory 1 in Sparks, Nevada, has since been followed by the automotive industry’s major players.",{"type":567,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":572},"This model of vertical integration has become standard approach for any legacy automaker with electric vehicle ambitions.",{"type":567,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":572},"This blueprint is beginning to evolve and some automakers are moving directly into in-house battery production, without the backing of established battery producers. Tesla announced this step during its 2020 Battery Day and Volkswagen followed suit with Q1 2021’s Power Day.",{"type":567,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":572},"From there the move is further upstream. Tesla is already making this move with the development of a lithium hydroxide processing plant in Texas, while Volkswagen has made several public statements on the need to look further upstream to secure raw material supply.",{"type":567,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":572},"As downstream cell plans from legacy automakers continue to gather pace, the pressures on battery raw material supply are further magnified.","Volvo Car Group and Northvolt have announced a 50/50 joint venture to build a megafactory in Europe, taking the number of megafactories in the pipeline on the continent to 23. The partnership will see the two companies establish a megafactory with up to 50 GWh of capacity, aiming to start production in 2026. Volvo also […]",[702],{"slug":555,"name":556,"content":703},{"job_title":558,"image":704,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"cdb6160a-656a-4717-84e6-86f59e8efd04\", \"id\": \"\"}-->","article",[708,711],{"slug":709,"name":710},"batteries","Batteries",{"slug":712,"name":713},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":716,"name":716,"focus":716,"title":716,"source":716,"filename":717,"copyright":716,"fieldtype":718,"meta_data":719,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/7678c5da5b/bm-northvolt-volvo-battery.jpg","asset",{"alt":716,"title":716,"source":716,"copyright":716},"Jun 25, 2021","25th June 2021",[],[],1780670086275]