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fortnight that cemented an electric future","the-fortnight-that-cemented-an-electric-future","article/the-fortnight-that-cemented-an-electric-future",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":743,"featured":50,"reporter":744,"_editable":748,"component":749,"seo_title":553,"categories":750,"visibility":757,"author_company":49,"featured_image":758,"seo_description":743,"author_full_name":49,"author_job_title":49,"formattedDate":763,"formattedArticleDate":764},"a6c23dbe-7a6f-48bc-b2cb-d6d92f8e6636","2017-07-26 00:00",[],[561],{"slug":562,"name":563,"content":564},"didi-bostock","Didi Bostock",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Editor - Energy Transition & Economics",{"filename":567},"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":571,"content":572},"doc",[573,589,594,599,604,609,618,625,630,635,640,645,650,655,660,665,670,675,680,685,690,693,698,703,708,713,718,723,728,733,738],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577,583,585],{"text":578,"type":579,"marks":580},"Two weeks in July: Tesla launches Model 3, plans Shanghai Gigafactory, agrees Australia storage deal; VW sees long term battery shortage; Daimler-Mercedes invests in $735m China pack plant; Northvolt plans European ","text",[581],{"type":582},"italic",{"text":584,"type":579},"Gigafactory; and",{"text":586,"type":579,"marks":587}," Volvo vows to become all electric…all in two weeks",[588],{"type":582},{"type":574,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":579},"Just in case we were short of evidence that electric vehicles (EVs) were here to stay, along came two weeks in July which saw a flurry of significant announcements from major players in the space that dispelled any doubts in the trend.",{"type":574,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":579},"Tesla Inc, Daimler AG, Volkswagen Group, Northvolt, and Volvo Cars all revealed developments across the lithium ion battery to EV supply chain.",{"type":574,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":579},"Tesla revealed that its long-anticipated Model 3 will started to roll off the production line in June with Elon Musk tweeting the first picture of the semi mass market EVs (inset).",{"type":574,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":579},"The development marked the beginning of a defining year for the vehicle and battery manufacturer and the most important EV launch since Nissan’s LEAF in 2010.",{"type":574,"attrs":610,"content":611},{"textAlign":49},[612,614,616],{"text":613,"type":579},"The company now turns to ramping up vehicle and battery production capacity at the Gigafactory which ",{"text":615,"type":579},"Benchmark Mineral Intelligence",{"text":617,"type":579}," expects to be able to produce 6GWh of cells or 100,000 Model 3 sized vehicles in 2017.",{"type":574,"attrs":619,"content":620},{"textAlign":49},[621,623],{"text":622,"type":579},"Benchmark",{"text":624,"type":579}," has forecasted Tesla’s Model 3 orders to conservatively be more than 530,000 which translates to over half a billion dollars in pre-order reservation cash. Elon Musk explained that Tesla will ramp up production to 1,500 vehicles in September and 20,000 vehicles a month by December.",{"type":574,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":579},"It will not be a first come first served basis for those customer that placed orders on Model 3 in last year’s launch, however. Tesla is expected to take advantage of a large number of orders from its own employees to roll the initial vehicles out and address any immediate problems thus avoiding a repeat of the Model X rollout.",{"type":574,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":579},"Tesla added even more pressure on its own battery supply chain, however, by announcing just days later that it will build the world’s largest stationary storage battery in South Australia.",{"type":574,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":579},"The project will be located in Hornsdale close to Jamestown and see a 129MWh Tesla Powerwall installed to store wind energy from Neoen’s 99-turbine wind farm, three times the size of the world’s previously largest installation in California.",{"type":574,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":579},"It is Tesla’s second major stationary storage since its opening its 52MWh project in the Hawaiian island of Kauai in March.",{"type":574,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":579},"Tesla kept this momentum going by revealing information of discussions with Shanghai Municipal Government that it is planning to located its second Gigafactory there. In Benchmark’s Q1 2017 issue, China was placed as the most likely location for the next super-battery plant from Tesla.",{"type":574,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":579},"“Tesla is working with Shanghai Municipal Government to explore the possibility of establishing a manufacturing facility for the Chinese market,” the company revealed.",{"type":574,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":579},"“While we expect most of our production to remain in the US, we do need to establish local factories to ensure affordability for the markets they serve,” Tesla added.",{"type":574,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":579},"Localised vehicle production is the most logical way to avoid import taxes and high transport costs. It is a move that Daimler AG, the producer of Mercedes Benz vehicles is planning after agreeing to build a $735m lithium ion battery pack facility in China together with BAIC Motor Group.",{"type":574,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":579},"Announced just one week after Tesla’s Shanghai discussions, Daimler has selected China as its primary manufacturing base for the ten EVs it plans to launch between now and 2022.",{"type":574,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":579},"“Localisation is the key to Daimler’s sustainable growth and future success here in China”, explained the group’s board member, Hubertus Troska.",{"type":574,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":579},"“[Our Chinese customers] made this the largest market worldwide for Mercedes-Benz… This year marks the 12th year of our close partnership with BAIC. The framework agreement signed today marks a new chapter of our cooperation in terms of New Energy Vehicles. China today is already the world’s largest market for NEVs, and Daimler is committed to contributing to the further development of electric mobility in this country,” he added.",{"type":574,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":579},"Just five days later Daimler competitor and the world’s largest auto manufacturer, VW, upgraded its own internal demand expectations by 50GWh and revealed it will need 200GWh worth of lithium ion cells each year from 2025 onwards and as a result it foresees a battery shortage.",{"type":574,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":579},"VW’s head of R&D, Ulrich Eichhorn made the new prediction in July as the group ramps up its battery supply chain activities to fulfil its ambitious goal to electrify 25% of its fleet by 2025.",{"type":574,"attrs":691,"content":692},{"textAlign":49},[],{"type":574,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":579},"In total, VW anticipates 1.5TWh of lithium ion battery demand by 2025 should all major auto makers have a similar 25% target. At present, around 250GWh of new capacity is in the pipeline between now and 2020 according to Benchmark’s lithium ion battery megafactory tracker.",{"type":574,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":579},"Northvolt, a new entrant on the battery scene, would have therefore felt justified in its timing of Europe’s first megafactory six days prior to VW’s revelation.",{"type":574,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":579},"New Sweden-based battery developer is being led by former Tesla executive, Peter Carlsson, who is planning to spend $4.2bn on a plant a similar size to the 35GWh Gigafactory. Northvolt is seeking to raise at least $1bn of the project finance by Q1 2018 to begin phase one in either the Swedish towns of Skellefteå in north-east of the country and Västerås in the south of the country.",{"type":574,"attrs":709,"content":710},{"textAlign":49},[711],{"text":712,"type":579},"“We are moving at a very fast pace, which is necessary if we want to take on a leading role in the European market and meet the growing demand for batteries,” Carlsson said.",{"type":574,"attrs":714,"content":715},{"textAlign":49},[716],{"text":717,"type":579},"“The possibility for us to achieve a professional and timely environmental assessment is crucial.”",{"type":574,"attrs":719,"content":720},{"textAlign":49},[721],{"text":722,"type":579},"Ironically, the highest profile story, that of Volvo Cars vowing to ditch the combustion engine in favour of producing just hybrid of pure EVs, will have the least immediate supply chain impact.",{"type":574,"attrs":724,"content":725},{"textAlign":49},[726],{"text":727,"type":579},"And that is saying something considering that Volvo is seeking to turn the 532,000 vehicles it produced last year into EVs by 2019. The headline grabber for international media outlines was Volvo’s declaration of the end of the internal combustion engine.",{"type":574,"attrs":729,"content":730},{"textAlign":49},[731],{"text":732,"type":579},"“This announcement marks the end of the solely combustion engine-powered car,” Håkan Samuelsson, CEO of Volvo said.",{"type":574,"attrs":734,"content":735},{"textAlign":49},[736],{"text":737,"type":579},"“We have said we plan to have sold a total of 1m electrified cars by 2025. When we said it we meant it.” he added.",{"type":574,"attrs":739,"content":740},{"textAlign":49},[741],{"text":742,"type":579},"These big statements have put Volvo, owned by Chinese auto group Geely, in the limelight as a rumours of an initial public offering circulated. It also underlines how much of a bull market for EVs we are now in when this eclipsed by five other significant developments in the same fortnight.","Two weeks in July: Tesla launches Model 3, plans Shanghai Gigafactory, agrees Australia storage deal; VW sees long term battery shortage; Daimler-Mercedes invests in $735m China pack plant; Northvolt plans European Gigafactory; and Volvo vows to become all electric…all in two weeks Just in case we were short of evidence that electric vehicles (EVs) were […]",[745],{"slug":562,"name":563,"content":746},{"job_title":565,"image":747,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"a6c23dbe-7a6f-48bc-b2cb-d6d92f8e6636\", \"id\": \"\"}-->","article",[751,754],{"slug":752,"name":753},"batteries","Batteries",{"slug":755,"name":756},"critical-minerals","Critical Minerals","private",{"id":49,"alt":759,"name":759,"focus":759,"title":759,"source":759,"filename":760,"copyright":759,"fieldtype":761,"meta_data":762,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/d8122caf1f/bm-screen-shot-2017-07-26-at-121131.png","asset",{"alt":759,"title":759,"source":759,"copyright":759},"Jul 26, 2017","26th July 2017",[],[],1792753407904]