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Battery News China Electric eMobility Energy Storage eV Gotion Gotion Japan

Gotion reaches deal with Edison Power to tap Japan’s energy storage market

Gotion and Edison Power have a planned sales target of 1 GWh in the first year of the partnership, rising to 2 GWh per year from the second year onwards.

(Image credit: Gotion High-tech)

Chinese battery giant Gotion High-tech and Japan's Edison Power Co Ltd have reached a strategic cooperation agreement to jointly tap the energy storage market in Japan.

The two signed the agreement on March 15 to jointly develop the Japanese energy storage and battery recycling market and promote Gotion's products in the Japanese market, according to a press release from the Chinese battery maker today.

Gotion and Edison Power have a planned sales target of 1 GWh in the first year of the partnership, rising to 2 GWh per year from the second year onward.

Gotion will provide battery cells, modules and BMS, while Edison Power will be responsible for Japanese energy storage customer management, EPC services, and energy storage system operation and maintenance.

In addition, Gotion will also work with Edison Power to establish a recycling system for recycled energy storage batteries in Japan, according to the release.

With the development of global renewable energy and the revision of Japan's Electricity Business Act in May 2022, new opportunities will arise for the development of Japan's large-scale energy storage battery industry, according to the release.

Edison Power, which began developing and manufacturing energy storage battery systems in 1991, is also developing a solar power business and a biomass power business.

Gotion, one of China's power battery giants, ranked eighth in the world with a 2.1 percent share in January, according to a report released earlier this month by South Korean market research firm SNE Research.

In China, Gotion installed 0.78 GWh of power batteries in February, ranking fourth with a 3.58 percent share, according to data previously released by the China Automotive Battery Innovation Alliance (CABIA).

The energy storage battery business is Gotion's second-largest business after power batteries.

In the first half of 2022, Gotion's revenue was RMB 8.6 billion, of which the power battery business contributed RMB 6.6 billion, or 76.51 percent, according to the company's semi-annual report.

Gotion's energy storage battery business generated RMB 1.28 billion in revenue in the first half of last year, contributing 14.8 percent.

Gotion to build $2.36 billion battery materials plant in Michigan

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Battery News China Electric eMobility eV Lithium Lithium Carbonate Lithium Prices

Lithium prices see biggest drop this year in China as decline accelerates

's management previously said they expect lithium carbonate prices to fall back to RMB 200,000 per ton this year, boosting gross margins.

The price of lithium, a key raw material for batteries, is accelerating its decline.

The price of battery-grade lithium carbonate in China today was down RMB 12,500 per ton ($1,814 per ton) from last Friday, with the latest average price quoted at RMB 312,500 per ton, according to My Steel.

That latest average price is down 3.85 percent from Friday, the biggest drop of the year, data monitored by CnEVPost show.

On Friday, the average price of battery-grade lithium carbonate in China fell RMB 8,000, or 2.4 percent, the previous biggest drop of the year.

Industrial-grade lithium carbonate also fell by RMB 12,500 per ton today, with the average price quoted at RMB 272,500 per ton. Its 4.39 percent drop was also the highest of the year.

The average price of industrial-grade lithium carbonate fell RMB 7,000 per ton to RMB 295,000 per ton on March 16, the first time it has fallen below RMB 300,000 per ton in this down cycle.

The average price of battery-grade lithium carbonate is now barely above RMB 300,000 and is at risk of falling below that mark in the next day or two.

In the two years prior to last November, lithium carbonate prices were soaring alongside the rapid growth of China's new energy vehicle (NEV) industry.

On November 23, 2022, the battery-grade lithium carbonate price rose to RMB 590,000 per ton in China, up about 14 times from RMB 41,000 per ton in June 2020.

Since then, however, lithium prices have continued to fall, with industrial-grade lithium carbonate prices falling below RMB 400,000 on February 22 and battery-grade lithium carbonate prices falling below that mark on February 28.

In late February, a local media report that lithium supplies could be disrupted by the production halt in a mining hub in China did not stop lithium carbonate prices from continuing to fall.

As of today, lithium carbonate prices are down about 47 percent from last November's highs and are down about 40 percent so far this year.

The drop in lithium carbonate prices is expected to ease the cost pressures faced by electric vehicle manufacturers.

NIO had previously mentioned that a drop in lithium carbonate price of RMB 100,000 per ton would increase its gross margin by 2 percentage points.

NIO's management said in a conference call with analysts after the March 1 earnings announcement that they expect lithium carbonate prices to fall to RMB 200,000 per ton this year, boosting gross margins.

($1 = RMB 6.8896)

Full text: NIO Q4 earnings call transcript

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Battery News Buyback China Electric eMobility eV Gotion High-Tech Gotion Stock

Gotion’s controlling shareholder to increase stake by up to RMB 300 million

The move is based on Gotion's controlling shareholder's recognition of the company's value and confidence in its continued rapid growth, according to an exchange announcement.

Gotion's controlling shareholder to increase stake by up to RMB 300 million-CnEVPost

The controlling shareholder of Chinese power battery maker Gotion High-tech plans to increase its stake in the company, whose stock has continued to fall over the past few months.

Gotion's controlling shareholder, Nanjing Guoxuan Holding Group, plans to increase its stake in the company by no less than RMB 200 million yuan ($29 million) and no more than 300 million yuan within six months from March 13, according to a Shenzhen Stock Exchange announcement on March 12.

The share purchase plan will not set a price range, and the controlling shareholder of Gotion will increase its shareholding at an opportune time according to the fluctuation of the share price and the overall trend of the capital market, according to the announcement.

The move is based on Nanjing Guoxuan's recognition of Gotion's intrinsic value and investment value and confidence in the company and the continued rapid development of the global lithium battery market, the announcement said.

Prior to the increase, Nanjing Guoxuan held 9.6 percent of Gotion's shares, while its two concert parties, Li Zhen and Li Chen, held 5.81 percent and 1.6 percent of the shares, respectively.

Li Zhen is the chairman of Gotion and holds 80.69 percent of Nanjing Guoxuan's shares, according to data provider Tianyancha. Li Chen is Li Zhen's son, according to Gotion's third-quarter earnings report.

Nanjing Guoxuan and its concert parties together hold 17.01 percent of Gotion's shares and have promised not to reduce their holdings within six months after completing the increase, according to the announcement.

They will execute the plan through the means permitted by the Shenzhen Stock Exchange securities trading system by September 13, according to the announcement.

Gotion ranked fourth with a 3.58 percent share of the power battery installed base in China at 0.78 GWh in February.

While Gotion's share of the China power battery market has remained stable, its shares have continued to fall over the past few months and are currently down more than 40 percent from their recent highs in early July 2022.

Gotion's controlling shareholder to increase stake by up to RMB 300 million-CnEVPost

As of Monday's close, Gotion was down 0.62 percent to RMB 28.92 in Shenzhen.

($1 = RMB 6.9014)

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Battery Data Battery News BYD CABIA CALB CATL China Electric eMobility eV Gotion High-Tech LFP Batteries Monthly Data Ternary Batteries

China Feb EV battery installations: Total volume up 36% from Jan, CATL share down slightly

's share in February was essentially unchanged from January, while CALB's share grew significantly.

China's power battery installed base rebounded in February compared to January, though 's share declined slightly and CALB's share increased significantly.

In February, China's power battery installed base was 21.9 GWh, up 60.4 percent year-on-year and up 36.0 percent from January, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).

CATL's power battery installed base in February was 9.60 GWh, continuing to rank first with a 43.76 percent share, but down from 44.41 percent in January.

BYD installed 7.50 GWh of power batteries in February, ranking second with a 34.19 percent share, essentially unchanged from January's 34.12 percent share.

CALB saw significant market share gains in February, as the company installed 1.62 GWh of power batteries in the month, ranking third with a 7.39 percent share, up 2.46 percentage points from 4.93 percent in January.

Gotion High-tech ranked fourth with an installed base of 0.78 GWh and a 3.58 percent share in February, while Eve Energy ranked fifth with an installed base of 0.71 GWh and a 3.25 percent share.

China's ternary Li-ion battery installed base in February was 6.7 GWh, accounting for 30.6 percent of total installed base, up 15.0 percent year-on-year and up 23.7 percent from January.

The installed base of LFP batteries was 15.2 GWh, accounting for 69.3 percent of the total installed base, up 95.3 percent year-on-year and up 42.2 percent from January.

In the ternary Li-ion battery market, CATL ranked first with 65.53 percent of the total installed base of 4.40 GWh in February.

CALB and LG Energy Solution ranked second and third in the ternary battery market with 10.93 percent and 7.49 percent shares, respectively.

In the LFP battery market, BYD installed 7.50 GWh in February, topping the list with a 49.37 percent share, the second consecutive month it ranked first in this segment.

BYD's power batteries are mainly LFP batteries, which are mainly used in the company's own new energy vehicle (NEV) models.

CATL ranked second in the LFP market with 34.19 percent of the total installed base of 5.20 GWh in February.

CALB and Gotion High-tech ranked third and fourth in the LFP battery market with 5.84 percent and 4.82 percent shares, respectively.

CATL's share in global EV battery market slips in Jan, BYD rises

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Battery News China Electric eMobility eV Lithium Lithium Carbonate Lithium Prices

Overseas premiums likely to provide support for lithium prices in China, analysts say

Overseas lithium prices are already at a 20 percent premium to Chinese prices, which is expected to provide support for lithium prices as the export window opens, analysts said.

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Battery Data Battery News BYD CALB CATL China Electric eMobility eV Gotion High-Tech Monthly Data SNE Research

CATL’s share in global EV battery market slips in Jan, BYD rises

CATL's battery installations rose 6.5 percent year-on-year in January, below the industry's growth rate of 18.1 percent.

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Battery News China Electric eMobility eV Lithium Lithium Carbonate Lithium Prices

Lithium’s downward trend set to be disrupted as Chinese mining hub suspends production

Lithium miners in Yichun, nicknamed the "lithium capital of Asia," are being suspended for production violations that analysts expect will affect 13 percent of the global lithium supply if production is halted for a month.

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Battery News China Electric eMobility eV Hina Battery sodium-ion battery

Hina Battery becomes 1st battery maker to put sodium-ion batteries in EVs in China

The unveiling of the Sehol EX10 test vehicle means that sodium-ion batteries are starting to be used in passenger cars, after the new batteries were mainly used in electric two-wheelers and for energy storage.

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Battery News China Electric eMobility eV Lithium Lithium Carbonate Lithium Prices

Lithium carbonate falls below RMB 400,000 per ton as price drop shows no sign of stopping

Industrial-grade lithium carbonate prices in China today fell below 400,000 yuan ($58,000) per ton, a pullback of more than 30 percent from the November peak.

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