Battery Industry

Volvo Cars initiates process to take full ownership of NOVO Energy Volvo Cars has today notified its counterpart in the NOVO Energy joint venture, Northvolt AB, that Volvo Cars will invoke its redemption rights to acquire Northvolt’s shares in NOVO Energy. This action follows a breach of the parties’ shareholders’ agreement where Northvolt AB has not fulfilled its financing obligations.

Nissan plans 9,000 job cuts, slashes annual profit outlook Nissan Motor Corporation announced a $2.6 billion cost saving plan on Thursday, including 9,000 job cuts and a 20% reduction in global production capacity as it battles falling sales in China and the United States. Japan’s third-largest automaker also cut its annual operating profit forecast by 70% to 150 billion yen ($975 million), its second downward revision this year. It scrapped its net profit forecast due to ongoing restructuring efforts, which Nissan said would cut costs by 400 billion yen ($2.6 billion) this fiscal year.

Nikola sells record number of FCEVs in Q3/2024 Nikola Corporation delivered a record number of fuel cell trucks in the third quarter of 2024, specifically 88 units. However, the US manufacturer still posted a net loss of nearly 200 million dollars. The bottom line is 199.78 million dollars in losses in the third quarter of 2024. That is actually less than half of what it was in Q3/2023 when net loss from continuous operations amounted to nearly 426 million dollars. For the first nine months of the year, Nikola thus posted a loss of 481 million dollars (compared to $711 million in the same period last year).

Greece opens tender for 200 MW of battery storage Greece has launched its third tender for battery energy storage capacity, seeking to award 200 MW of projects, which will compete for subsidies of EUR 200,000 (USD 217,920) per MWh. The auction is the third and last round of the Balkan country’s 1-GW programme aimed at supporting the deployment of standalone energy storage facilities. Its start was approved by the Regulatory Authority for Energy, Waste and Water (RAAEY) and officially announced in the Official Gazette on Sunday.

Marelli becomes technical partner of Nissan Formula E Team Marelli is delighted to confirm that it has joined forces with Nissan Formula E Team as Technical Partner on an initial two-year agreement. With over 100 years of history as a global technology partner to the automotive and motorsport worlds, Marelli aims to co-create the future of mobility with customers and partners.

Korean auto, battery firms buckle up for second Trump term Korean automakers and battery-makers now face the daunting task of coping with a second Donald Trump administration, as they try to prepare various measures to weather the storm of uncertainties expected from the next president of the United States.

Amara Raja to start operations at battery recycling plant by November end Amara Raja Energy & Mobility Ltd will start commercial operations at its greenfield lead acid battery recycling plant in Tamil Nadu by November end, as it looks to increase the proportion of recycled lead sources used in manufacturing. The recycling plant is expected to cater to 25-30% of the company’s overall raw material requirements eventually.

Danfoss Power Solutions launches Editron EM-PMI540B electric motor to provide non-stop full power for electric machinery Danfoss Power Solutions today announced the launch of its Editron EM-PMI540B electric motor. Based on synchronous reluctance assisted permanent magnet technology, the EM-PMI540B functions as both a motor and a generator. Designed for electric or hybrid drivetrains in demanding applications, such as off-highway machinery and marine vessels, it offers high efficiency, non-stop continuous power, and a high operational altitude.

GM recalls Chevrolet Bolt EVs over fire risk in latest battery-related issue General Motors has issued a new recall for 107 Chevrolet Bolt electric vehicles, targeting the 2020 to 2022 model years due to a risk of battery-related fires. This action comes three years after a more extensive recall of around 142,000 Bolt EVs for a similar issue. The company’s recent notification, documented on the National Highway Traffic Safety Administration (NHTSA) website, reveals that a software glitch, stemming from a servicing tool malfunction, may prevent drivers from receiving warnings about defective battery parts that require replacement.

Rio Tinto will partner with China’s State Power Investment Corporation (SPIC) to demonstrate battery-swap electric haul-truck technology at the Oyu Tolgoi copper mine in Mongolia.