There's been a lot action in the EU EV space recently with quite a few deals signed and plans announced. Having a look at the planned production and orders from some of the key battery factories and auto companies in Europe...2024 seems to be the time when everything really kicks off.
This aligns with Talga's plans to begin production (which I am confident includes expansion beyond 19ktpa as per the costs and commentary in the DFS).
Envision/Nissan - Envision are one of 6 global tier one cell makers with 3 operational battery plants (UK, USA, Japan) with three more on their way (China Japan UK). Last Thursday (July 1) Envision and Nissan announced partnership for a $1.4billion EV Hub in the UK with initial capacity of 9Gwh beginning in 2024.
Envision/Renault - On the 28th of June Envision announced they have also partnered with Renault and will spend up to $2.4 billion on a battery plant in northern France to power an affordable range of Renault SA electric vehicles with initial capacity of 9Gwh beginning in 2024
Northvolt/Volvo - In June Volvo and Northvolt announced a joint venture with plans to build a battery factory. As part of the the joint venture Volvo will also source 15 GWh of battery cells per year from Northvolt Ett beginning in 2024.
BMW/Northvolt - BMWs Northvolt $2Billion order from Northvolt Ett begins in 2024
VW Salzgitter - The VW Salzgitter battery factory will have initial capacity of 16 gigawatt hours per year with production beginning in 2024.
Stellantis - In June Stellantis announced they will produce four medium-segment electric vehicles at their Melfi plant in southern Italy from 2024
Tesla Giga Berlin - In June Tesla officially applied to manufacture battery cells at Giga Berlin with planned production of 100 and 250 GWh but no confirmed date. Tesla will use battery cells produced in Fremont to support production until it comes online.
According to the European Commission's vice president Maros Sefcovic, EU carmakers will be entirely covered by local battery production by 2025.
2024 is also when some of the EU regulations kick in:
- From 1 July 2024 only rechargeable industrial and electric vehicles batteries for which a carbon footprint declaration has been established can be placed on the market
- From 2024 electric vehicles require at least 45% of materials originating from the EU or the UK while batteries require 50-60% to avoid tariffs.
- From 1 January 2024 as part of the EU-UK Free Trade Deal, the UK will also have to source at least 50% of battery materials from within the UK or EU to avoid tariffs.
Make of this what you will. Who could supply all that locally mined and produced anode?
After this JV is signed and the US$484million is secured I expect there will be an avalanche of announcements. Oh and don't forget it's all about the permits!
(20min delay)