Mango Power unveils home and portable battery system
US-based Mango Power has developed a 3.5 kWh battery system that can be expanded up to 14 kWh. The product features LFP battery cells from CATL and can be charged through AC wall outlets, with solar panels, or via electric-vehicle chargers.
LG Energy Solution IPO attracts $80bn in bids
LG Chem’s energy storage and battery division’s $10.7 billion initial public offering received a staggering response from institutional investors, Reuters has reported.
CATL claims to have made sodium-ion batteries a commercial reality
The manufacturer has launched sodium-ion products online. Production has begun and will be easily scalable, according to the CATL chairman. Researchers have been keen to make the technology work as it offers a cheaper, more environmentally friendly alternative to lithium-ion products.
Grevol to use CATL lithium cells for EV battery packs
The New Delhi-based electric mobility firm has launched electric vehicle (EV) battery packs using lithium-ion cells from China’s Contemporary Amperex Technology Co. Ltd. (CATL).
MG Motor mulling EV battery assembly plant in India
The British carmaker, which is launching its electric SUV early next month in India, plans to set up a battery assembly plant in two years for its electric car models.
Battery maker CATL ramps up investment in German gigafab to €1.8 billion
Previously, a mere €240 million (Rs1,870 crore) was set to flow into the giga-factory. The corporation’s management reasoned new demand for its battery cells made more investment necessary.
The long read: China’s battery boom
The global energy storage market is poised to grow rapidly in the coming years, with Bloomberg New Energy Finance (BNEF) predicting $620 billion in investment over the next two decades will push cumulative global installations to 942 GW/2,857 GWh by 2040. Declining lithium-ion battery costs are driving much of this growth, with BNEF expecting the cost of utility-scale storage systems to fall roughly 52% through 2030, following an approximate 80% slide in the average price of lithium-ion battery packs in the first seven years of the current decade.
