Beijing Chenxu Electric Power and Henan Lithium Sign $2 Billion Power and Energy Storage Battery Production Base in Nanzhang, Hubei

Korea’s auto industry maintained solid exports and production in 2025, but its 2030 competitiveness will depend on EV transition execution. The domestic market has matured, while hybrids have become a defensive pillar. EV adoption remains below the government’s target, and U.S.-EU policy pressure and Chinese EV competition are reshaping export strategies. Future competitiveness will hinge on pricing, localization, battery sourcing, and charging and safety confidence.

Mineral Resources Limited (MinRes) announced the restart of its wholly-owned Bald Hill lithium mine, citing sustained recovery in lithium prices. The mine was placed on care and maintenance in Nov 2024 to preserve 58.1Mt at 0.94% Li₂O.Located in Western Australia's Goldfields, Bald Hill has capacity of ~165,000 dmtpa of 5.1% spodumene concentrate (140,000 dmt SC6). Using existing inventory, equipment and workforce networks, MinRes can resume operations safely and quickly.Site activities ramp up in late May, crushing and mining start in June, first concentrate in July. First shipment from Port of Esperance expected Q1 FY27, full capacity Q2 FY27. Restart costs (incl. working capital) estimated at A$20m, incurred in Q4 FY26. FY27 guidance to be provided in August.

According to industry sources on May 16, EVE Energy recently said in a statement that it will supply Godawari with an initial 8 GWh of battery storage capacity, laying the groundwork to expand the volume to up to 60 GWh over the next five years. EVE Energy plans to supply its flagship 628 Ah large-capacity battery cells for the project.