Slovakia Grants €214 Million Aid to Guoxuan Hi-Tech Joint Venture for Electric Battery Factory

SMM learned that BAIC R&D recently announced the successful development of sodium-ion battery prototypes. The first prismatic battery pack using prismatic battery cells achieved an energy density exceeding 170 Wh/kg, placing it in the industry’s top tier. It also supports 4C ultra-fast charging, enabling recharging in 11 minutes. Its temperature-range adaptability and safety performance are outstanding, with stable operation across an ultra-wide range from -40°C to 60°C, energy retention above 92% at -20°C, and no risk of thermal runaway under extreme scenarios. At present, this sodium-ion battery has completed sample finalization, established mass-production processes for prismatic products, and filed 20 patents around core technologies. BAIC has also leveraged this to complete a full technology roadmap covering lithium batteries, solid-state batteries, and sodium-ion batteries, and has mastered a complete set of core sodium-ion battery technologies.

According to a regulatory filing on the 24th, L&F announced that it signed a mid- to long-term supply agreement for lithium iron phosphate (LFP) cathode materials with Samsung SDI on the 23rd. The contract is valued at KRW 1.6067 trillion, equivalent to approximately 84.23% of L&F’s recent annual revenue of KRW 1.9074 trillion. The supply will primarily target North America, including the United States, with the contract period running from March 30 through Dec. 31, 2029.

On March 23 (local time), Toyota announced plans to invest $800 million in its Kentucky plant to prepare for a second battery electric vehicle (BEV) production line and expand capacity for the Camry and RAV4. The company will also invest $200 million across two facilities in Indiana to increase production of the Grand Highlander SUV, while advancing parallel efforts related to battery manufacturing.