Albemarle loses more than $1 billion on falling lithium prices
The results underscore the supply glut engulfing the entire lithium industry amid oversupply from China.
EV battery producer InoBat Auto announced that it is leading the construction of a 290,000 square-foot, first-of-its-kind electric vehicle battery R&D center and pilot line in Slovakia, where it plans to integrate research and development activities together with battery cell-manufacturing capabilities.
Set to be operational in early 2022, the battery center will be powered by green energy through grid electricity and solar panels, is expected to create up to 150 skilled jobs, and will include a technical training centre, in addition to the manufacturing line.
InoBat will use the new battery center to identify the optimum cell chemistries to meet the requirements of any vehicle maker
“InoBat, who purchased the existing brownfield site to reduce the need for carbon-intensive construction methods, will use the new battery centre to identify the optimum cell chemistries to meet the exact requirements of any vehicle maker or manufacturer faster and more efficiently than competitors,” the company said in a media statement.
The site, located 40 kilometres outside of Bratislava in Voderady, is situated at the centre of Central Europe’s automotive hub, with more than 4.25 million vehicles produced annually in a 500-kilometer radius from the facility.
“InoBat is also preparing to build a 1GWh gigafactory in Voderady, Slovakia before scaling up to a 32GWh gigafactory to support and serve the international market at scale,” the media brief states. “We look forward to working with current and future partners to deliver the best batteries customized directly to meet exact specifications for electric vehicles in the automotive, aviation, commercial and industrial sectors.”
Prior to this week’s announcement, the Bratislava-based company reported having signed a landmark agreement with SOR, one of the largest producers of city and intercity-buses in Central Europe, with the intention to design, develop and supply batteries for a new urban, intercity and long-distance electric bus fleet.
