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set to enter cathode production; agrees nickel cobalt deal with Huayou and Tsingshan","volkswagen-set-to-enter-high-nickel-cathode-production-as-it-agrees-nickel-cobalt-supply-deal-with-huayou-and-tsingshan","article/volkswagen-set-to-enter-high-nickel-cathode-production-as-it-agrees-nickel-cobalt-supply-deal-with-huayou-and-tsingshan",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":671,"featured":50,"reporter":672,"_editable":676,"component":677,"seo_title":553,"categories":678,"visibility":682,"author_company":49,"featured_image":683,"seo_description":671,"author_full_name":49,"author_job_title":49,"formattedDate":688,"formattedArticleDate":689},"83660721-96ba-4a9c-adf3-8982005ac4a6","2022-03-21 00:00",[560,563,566,569],{"slug":561,"name":562},"huayou-cobalt","Huayou Cobalt",{"slug":564,"name":565},"indonesia","Indonesia",{"slug":567,"name":568},"tsingshan","Tsingshan",{"slug":570,"name":571},"volkswagen","Volkswagen",[573],{"slug":574,"name":575,"content":576},"matthew-bird","Matthew Bird",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Senior Editor - Supply Chains & Data Visualisation",{"filename":579},"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":583,"content":584},"doc",[585,601,606,611,616,621,628,633,638,643,648,653,666],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589,592,599],{"text":590,"type":591},"Volkswagen will secure supplies of nickel and cobalt for its electric vehicles from Chinese producers Huayou Cobalt and stainless steel maker ","text",{"text":568,"type":591,"marks":593},[594],{"type":595,"attrs":596},"link",{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/historic-nickel-rally-shuts-down-lme-and-places-tsingshan-in-the-spotlight","url",{"text":600,"type":591},", in a deal that aims to provide enough metal for around 2 million electric vehicles.",{"type":586,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":591},"The three companies said they will form a joint venture to develop annual production of 120,000 tonnes of nickel and 15,000 tonnes of cobalt in Indonesia – enough for 160 gigawatt-hours of batteries. Huayou and VW will also build a battery cathode and refining business in southern Guangxi and elsewhere, the companies said.",{"type":586,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":591},"The deals mark a significant move by the world’s second-largest carmaker to secure the cathode raw materials it needs to expand production of electric vehicles for the Chinese market. VW is the first western automaker to invest in nickel production in Indonesia, which is the world’s biggest producer of the metal.",{"type":586,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":591},"Currently, almost all of Indonesia’s nickel supply is set to go into the Chinese battery supply chain. Without access to that supply, VW could be at a significant disadvantage in the Chinese market.",{"type":586,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":591},"China is VW’s most important market but it faces growing competition from Chinese startups Xpeng, Nio and Li Auto, as well as Tesla.",{"type":622,"attrs":623,"content":625},"heading",{"level":624,"textAlign":49},4,[626],{"text":627,"type":591},"Lowering battery costs ",{"type":586,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":591},"The deal with Tsingshan and Huayou will help VW reduce battery costs by 30% to 50% over the long term, VW said on Monday.",{"type":586,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":591},"The three companies said they will collaborate on the development of nickel and cobalt resources in Indonesia, and build a “transparent, sustainable” supply chain for battery materials.",{"type":586,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":591},"Huayou and VW will also form a company or multiple companies to establish nickel and cobalt refining, precursor manufacturing and cathode production in Guangxi and other areas.",{"type":586,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":591},"Indonesia is set to account for almost all of the new nickel production this decade. Chinese companies have built a number of processing plants in the country, to turn raw nickel into higher purity forms that can be used in batteries.",{"type":586,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":591},"Huayou Cobalt’s nickel and cobalt processing project in Indonesia, in which Tsingshan is a shareholder, PT Huayue, shipped its first mixed hydroxide precipitate (MHP) to China in February.",{"type":586,"attrs":654,"content":655},{"textAlign":49},[656,658,664],{"text":657,"type":591},"Supply of nickel intermediate MHP from Indonesia is ",{"text":659,"type":591,"marks":660},"set to rise",[661],{"type":595,"attrs":662},{"href":663,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/indonesia-set-for-five-fold-increase-in-battery-nickel-supply",{"text":665,"type":591}," to 52,000 tonnes of nickel this year from 10,000 tonnes last year, according to Benchmark’s Nickel Forecast.",{"type":586,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":591},"Nickel production in Indonesia, however, is estimated to be up to six times more carbon-intensive than in Russia or Canada, due to the use of coal-fired power plants. That’s made western automakers such as Tesla cautious about securing supply from Indonesia.","Volkswagen will secure supplies of nickel and cobalt for its electric vehicles from Chinese producers Huayou Cobalt and stainless steel maker Tsingshan, in a deal that aims to provide enough metal for around 2 million electric vehicles. The three companies said they will form a joint venture to develop annual production of 120,000 tonnes of […]",[673],{"slug":574,"name":575,"content":674},{"job_title":577,"image":675,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"83660721-96ba-4a9c-adf3-8982005ac4a6\", \"id\": \"\"}-->","article",[679],{"slug":680,"name":681},"batteries","Batteries","private",{"id":49,"alt":684,"name":684,"focus":684,"title":684,"source":684,"filename":685,"copyright":684,"fieldtype":686,"meta_data":687,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/c7f70171ce/bm-vw-china-large.jpg","asset",{"alt":684,"title":684,"source":684,"copyright":684},"Mar 21, 2022","21st March 2022",[],[],1789748868103]