![]() ![]() LG Chem explains that NCMA is envisioned for next-generation EVs thanks to improved battery capacity and stability. VTOs Batteries and Energy Storage subprogram aims to research new battery chemistry and cell technologies that can: Reduce the cost of electric vehicle. ![]() One of the most interesting details is that the cathode chemistry envisioned for the new plant will be LG Chem's latest NCMA (also used in GM's Ultium Cells joint venture), containing nickel, cobalt, manganese and aluminum. ![]() Some manufacturers increase Nickel to 70, which is the maximum used in NMC cathodes. A maximum of 60 Nickel (say NMC 622 Nickel 60, Manganese 20 and Cobalt 20) is considered a safe choice. soil, LG Chem envisions the Tennessee site being the supply chain hub where material and recycling partners work together to supply global customers." NMC is the most commonly used cathode in EV batteries. The corresponding price for nickel sulfate has ranged between 22,750 yuan. Fastmarkets’ latest price assessment for cobalt sulfate, 20.5 Co basis, exw China, was 74,000-76,000 yuan (11,451-11,760) per tonne on Friday June 25. In addition to the benefits realized by investing in manufacturing on U.S. Moving into 2021, the price jumped by 67 in the first two month of the year before falling by nearly 28 in mid-May. The Tennessee facility allows LG Chem to proactively address the changing dynamics of the global battery material market and with legislation such as the Inflation Reduction Act (IRA). "For LG Chem, Tennessee was the best choice due to its proximity to key customers, ease of transporting raw materials and active cooperation of the state and local governments. Since early 2022, the government has attracted large anchor investments in battery material processing and cell manufacturing. The official press release indicates that a big factor to locate the plant in the US was the Inflation Reduction Act (IRA). The GM-POSCO joint venture, called Ultium CAM, will create around 200 jobs and strengthen Canada’s electric vehicle (EV) ecosystem and economy for years to come. ![]()
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