Synthetic graphite supplier Novonix has secured its second major automotive battery-component supply … More
Novonix
Volkswagen has been once bitten by its EV investment push, but it isn’t twice shy, after signing a multi-million dollar contract with Australian battery material supplier Novonix.
The German automaking giant’s PowerCo battery arm has signed a five-year supply contract with the Australian-listed Novonix (NVX) for its synthetic graphite anode material, starting in 2027.
The deal comes in the same week that sources insist the Volkswagen Group has heavily written down its 21% stake in the troubled Northvolt, which entered Chapter 11 bankruptcy proceedings this week.
The Volkswagen Group valued its share of Northvolt at $900 million at the end of 2022, $720 million a year ago and, apparently, considerably less today.
With the disappointment of both Northvolt’s financial and production quality, PowerCo plans to build six battery gigafactories by 2030. The 240 GWh energy storage capacity from the plants is planned to power around three million EVs and PHEVs.
It has already started production of two of the battery plants in Germany.
The Group has its eyes on 32,000 tonnes of Novonix’s synthetic graphite anode material for use in its gigafactory fleet, believing it will enhance battery performance and lifespan.
Novonix and Stellantis
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Stellantis, the parent company of RAM, also has a massive synthetic graphite supply deal with … More
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Novonix already has a major automotive supply deal, signed last week, with Stellantis, which produces RAM, Dodge, Chrysler and Jeep models, as well as Peugeot, Fiat, Alfa Romeo, Lancia, Maserati and Citroen cars.
Stellantis has signed on for between 86,000 and 115,000 tonnes of synthetic graphite from Novonix from 2026 to 2031, which has been allocated for North American battery cell production.
What’s Next For Novonix?
Supply of the Novonix material to Volkswagen’s PowerCo will start in 2027, which lines up with PowerCo’s schedule for bringing its first two battery plants to production status.
The Brisbane-based Novonix now needs to finance further industrialization of its production facilities to meet the capacity, including its plant in Riverside, Tennessee, which has been planned to produce 20,000 tonnes of synthetic graphite.
The Tennessee plant has already received a $100 million US Department of Energy grant, as well as a tax credit worth more than $100 million, and Novonix plans a second facility in the US south-eastern region.
Not The Only Battery Game In Brisbane Town
Novonix isn’t the only Brisbane-based battery component supplier doing big business this month, with neighbor the Graphene Manufacturing Group this week announcing huge automotive interest in its Super G graphene slurry, which extends the life of lithium-ion cathodes and anodes.
In development for the last three years, GMG conceived the slurry for use in its own ground-breaking graphene aluminium-ion battery, and it shows tremendous promise for high conductivity, low charge-transfer resistance and high density.
GMG confirmed it is in talks with multiple battery makers to explore the production potential of the Super G slurry.
Source: https://www.forbes.com/
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