Sumitomo Metal Plans $1.8 Billion Nickel Smelter for EV Batteries
Sumitomo Metal Mining Co. Ltd. is to build a 200 billion-yen ($1.8 billion) nickel smelting complex in Indonesia to supply metal to makers of batteries for electric vehicles, The Nikkei reports.
#hybrid
Sumitomo Metal Mining Co. Ltd. plans to build a 200 billion-yen ($1.8 billion) nickel smelting complex in Indonesia to supply metal for electric car batteries, The Nikkei reports.
The company intends to build the factory in the southeast Pomalaa region. The facility would have annual capacity to make 40,000 tons of material used to produce battery cell cathodes, according to the newspaper.
The plant’s output would be shipped to Japan for further processing, then sold to batterymakers such as Panasonic Corp. The Nikkei notes that the metals company already has a similar nickel smelting operation in the Philippines.
Sumitomo Metal has been rushing to hike its monthly output of nickel material to nearly 4,600 tons per month as global demand for EV batteries accelerates, according to the report.
RELATED CONTENT
-
On Zeekr, the Price of EVs, and Lighting Design
About Zeekr, failure, the price of EVs, lighting design, and the exceedingly attractive Karma
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec