【March 28 Lithium Battery News】Brazilian Spodumene Tender Wins Bid at $1,160 per ton | Several Companies of Xiaomi Corporation Add New Automotive-related Businesses

Brazilian Spodumene Tender Wins Bid at $1,160 per ton

Brazilian mining company Sigma Lithium has announced the results of a secret bidding process for the company's spodumene concentrate. The total volume of the lithium concentrate is 22,000 tons, with the actual grade not disclosed. The winning bid was at a price of $1,333 per ton (including 13% VAT), which equates to $1,160 per ton after excluding VAT. it is expected to be shipped within two weeks.

Fengshan Group: The electrolyte for semi-solid state batteries is still in the research and development stage

Fengshan Group announces unusual fluctuations in stock trading; Fengshan Quannuo, a company established with investment from the group, is principally engaged in the research and development, production, sales, and technical services of electrolytes (lithium salts, sodium salts, etc.). Currently, the production and sales of electrolytes are at an early stage, with the sales revenue accounting for less than 0.5% of the company's business income, thus not constituting any significant impact on the company's current financial status. The release of production capacity depends on changes in market demand for electrolytes and the development of the company's business. Additionally, the electrolyte for semi-solid state batteries is still in the research and development stage. Whether the subsidiary's operational capabilities can achieve the expected results needs to be judged based on market changes, and there is a certain degree of uncertainty.

Ferrari and SK On sign a memorandum of cooperation on batteries

Electric vehicle battery manufacturer SK On announced that it has signed a memorandum of understanding with Italian luxury sports car manufacturer Ferrari to strengthen cooperation and promote battery technology innovation. SK On is currently the sole battery supplier for Ferrari and has been providing battery cells to the automaker since 2019.

LG Group will invest approximately 100 trillion Korean won in Korea in the next five years for artificial intelligence, batteries, automotive components, etc.

On March 27, the South Korean LG Group held its shareholders' meeting where it announced its medium-to-long-term investment plan. The plan includes an investment of approximately 100 trillion South Korean won in the domestic market in the next five years, up until 2028. Half of this investment will be allocated to future technologies such as artificial intelligence, biotech, clean technology, as well as sectors like batteries, automotive components, and next-generation displays, with an aim to build competitiveness. LG Group stated that 55% of the investment amount will be used for scientific research and experimental development, focusing on creating key material research and development centers and smart manufacturing bases within South Korea.

NIO Adjusts Delivery Outlook for the First Quarter of 2024

NIO Releases Q1 2024 Delivery Outlook: The company expects to deliver approximately 30,000 vehicles in the first quarter of 2024, down from the previous forecast of 31,000 to 33,000 vehicles.

Several Companies of Xiaomi Corporation Add New Automotive-related Businesses

It is understood that, recently, Xiaomi Communications Co., Ltd. underwent business registration changes, with the addition of new business scopes including the sale of charging piles, the sale of vehicle charging services, the sale of electric accessories for new energy vehicles, and the sale of car decorative items. The company was established in August 2010, with Qu Heng serving as its legal representative and manager, and Lei Jun as the chairman. The registered capital is 320 million US dollars, and it is wholly owned by Xiaomi H.K. Limited. It is worth mentioning that, not long ago, Xiaomi Home Technology Co., Ltd. and Xiaomi Home Commerce Co., Ltd. also added new business scopes including car sales, sales of new energy vehicles, smart vehicle-mounted equipment sales, second-hand car brokerage, and the sale of new energy vehicle battery swap facilities.