BYD Claims Top Spot Globally In Both New Energy Vehicle Sales And Energy Storage System Shipments For 2025

Chinese-owned battery manufacturer Automotive Energy Supply Corporation (AESC) has sold a majority stake in its only US battery plant to Fixx Energy. Fixx Energy has also signed a multiyear agreement to supply battery cells to energy storage supplier Fluence Energy. Under the deal, Fixx Energy took control of AESC’s manufacturing facility in Smyrna, Tennessee, on April 1. AESC will continue to serve as a technology partner through a joint venture with Fixx Energy, Nikkei Asia reported on April 29 local time.

SK On has placed an equipment order with China’s Yinghe Technology. According to industry sources on April 29, SK On selected Yinghe Technology as a supplier of stacking equipment, a key system used in the battery assembly process, and placed an order for the equipment. The order covers stacking equipment used to build electrode assemblies by layering cathodes, anodes and separators, which are key battery components.

South Korea is moving to provide tax incentives for seven key battery-related items. The Ministry of Trade, Industry and Energy has recently finalized seven items for inclusion under a production promotion tax scheme and requested a review by the Ministry of Economy and Finance. The seven battery items are understood to include cells, cathode materials, anode materials, separators, electrolytes, precursors and lithium. The ministry selected the items based on their importance to economic security and supply chains, the vulnerability of domestic production bases, the potential for production expansion through tax support, global competition and the level of overseas policy support.