MNS 0.00% 4.2¢ magnis energy technologies ltd

"I especially like the line: 'A decision on a supplier for North...

  1. 1,463 Posts.
    lightbulb Created with Sketch. 460
    "I especially like the line: 'A decision on a supplier for North America will be taken soon'"

    Volkswagen has selected SK Innovation as their battery supplier for North America, recall discussing SKI's growth trajectory earlier this year

    Nov 13 2018 - Volkswagen nominates further battery cell supplier
    "SKI will supply the batteries for North America and a share of the batteries for the production of Volkswagen Group full-electric vehicles in Europe...South Korean manufacturer SK Innovation (SKI) completes group of strategic suppliers for battery cells in all major world regions...With SK Innovation, LG Chem, Samsung and CATL, we have found strong partners for the long-term supply of cells for our rapidly growing electric fleet."

    Back in March, Volkswagen signed $25 Billion in battery deals with CATL, Samsung & LG Chem
    then doubled those to $48 Billion in May. Those 3 deals and latest with SK Innovation all based on NCM chemistry. Worth reflecting on posters' opinions back then as to likelihood that Imp3 's $5M of second hand gear in Huron storage would bear fruit with VW for US market. Some skeptical Imp3 bone battery even in the running:

    lectro: https://hotcopper.com.au/posts/31623118/single
    "I find it absurd that VW would sign up a Chinese company to provide industry standard and proven battery systems on one hand and then sign up the Magnis consortium to provide new , completely unproven , non trusted battery systems with the other. "

    robbo24: https://hotcopper.com.au/posts/31621714/single https://hotcopper.com.au/posts/31622575/single
    "The proposition that a reputable manufacturer is going to sign up for any unproven, untested, undeveloped and seemingly unplanned product is outrageous...you think VW or any manufacturer are going to chuck IM3 bench scale prototype batteries - regardless of where they are manufactured - in electric vehicles and try to sell them?"

    SK Innovation's partnership with VW also has European cell facilities on the cards:

    VW SK.PNG

    OCT 27 2018 - Volkswagen will clone the Tesla-Panasonic gigafactory approach?
    "According to Germany’s Manager Magazin, Volkswagen is in negotiations with SK Innovation to build a battery gigafactory in Europe."

    SKI's production ambitions increasing with VW alliance.
    Nov 22 2018 - SK Innovation to boost battery output by 10 times by 2022

    Volkswagen now have clear strategy in place for EV in North America and Europe.

    Sounds like Imp3's 'talks with Volkswagen' at an end.
 
watchlist Created with Sketch. Add MNS (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.