Joining some dots here….Foxconn who are co-owner of LT Tech also have a JV with Geely.
Geely own Volvo cars (Volvo and Polestar) which will IPO in Stockholm in a few days.
As mentioned previously, Volvo Cars have a joint venture with Northvolt for initial supply of batteries from Ett, as well as construction of a new gigafactory. Perhaps today’s announcement is part of Talga’s connection with Northvolt and Volvo, and is one of the customers LT Tech and Talga will jointly supply anode to. MT has said anode is specific to each model of car, and is typically a blend of natural and synthetic (with natural now becoming the dominant makeup of the blend). Talga supply the natural graphite material and LT Tech supply the synthetic material for Nortvolt and Volvo/Polestar.
Northvolt also want localised supply so it would make sense for LT Tech to partner with Talga (down the road and all) for an expansion into Europe with Volvo.
Today’s announcement also states that after successful testing they wish to enter into a supply contract to complete customer qualification with agreed customers. Makes me think this is further advanced than it appears, and LT Tech may be purchasing a commercial quantity from the EVA Plant output for final customer qualification with Volvo Cars….
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