April's Brief: Must-Read Industry News for Busy People
As we approach the last days of April, we've curated the latest and most exciting industry news to keep you informed and inspired. From policy, investments to insightful trends, we've got you covered.
Worried about reliable energy after the Ukraine conflict, the EU is stepping up its game to secure the raw materials needed for the energy transition. They're making deals with countries like Canada and Uzbekistan to diversify their raw material supply, instead of relying on just one source that might not be dependable.
The Critical Raw Materials Action Plan, supported by new EU laws, such as the Critical Raw Material Act, not only ensures Europe's future energy needs but also encourages sustainable ways to produce and recycle these materials.
In their recent meeting (April 4th-5th) in Leuven, Belgium, the EU and the US (through the Trade and Technology Council, or TTC, formed in 2021) agreed to work together on finding reliable sources for the critical materials needed for clean energy technologies around the world.
The International Energy Agency (IEA) 's highly anticipated EV Outlook 2024 is here, and it predicts a surge in electric car sales.
By 2024, one in five cars sold globally could be electric, with a projected total of 17 million units. This builds on a record-breaking 2023, where nearly 14 million electric cars hit the road, representing 18% of all car sales.
While competition, especially in China, is driving down electric car prices, they still carry a 10% to 50% premium compared to gasoline-powered vehicles in most markets.
3. China’s ‘battery king’ dismisses solid-state EV commercialisation as years away
In an interview with the Financial Times, Contemporary Amperex Technology Hungary Kft.'s CEO Robin Zeng threw some shade on the excitement surrounding solid-state batteries. He pointed out some big problems like durability and safety concerns, making it clear that these batteries aren't ready for prime time yet.
Instead, CATL is focusing on other types of batteries that they believe are more promising. Zeng's got big plans beyond just batteries though, with ideas for all sorts of eco-friendly energy solutions.
But there are challenges ahead, especially with tensions between China and the US causing issues for CATL's expansion plans. So, instead of building their own battery factories in the US, they're looking at licensing their tech to other companies.
4. Collie graphite plant gets a funding boost
Building on its earlier support, the Western Australian Government is giving a significant boost to the new Collie graphite plant with a fresh investment of $6.5 million.
This comes after International Graphite, a Western Australian company, started production at their initial, smaller graphite processing facility in Collie back in February, thanks in part to a $2 million government grant.
We hope you found the insights valuable and the updates informative. Stay tuned for our next edition, where we'll unveil even more exciting news and developments.