Connect with us

News

Sumitomo Metal Mining Invests $ 424 Million to Expand Battery Material Manufacturing

Published

on

Japanese company Sumitomo Metal Mining has said it will spend $ 424 million to expand production capacity to produce cathode materials for batteries used in electric vehicles.

Japan’s largest nickel producer will build a new nickel cathode materials plant in the west of the country and expand precursor production at its refinery, also located in Japan. The work is scheduled to be completed in 2025.

Nickel is a key component of lithium-ion batteries used to power electric vehicles, which sales are expected to grow in the coming years.

Sumitomo Metal supplies nickel-based cathode materials for Panasonic lithium-ion batteries used in Tesla electric vehicles. Now the company produces about 5000 tons of these products per month. The expansion of production will increase this figure to 7,000 tons per month. Further plans for Sumitomo Metal include an increase in production capacity to 10,000 tons per month in 2027.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest News

Laptops24 mins ago

Newest MacBook users complained about “cracked for no reason” screens

Users of new Apple laptops based on Apple’s proprietary M1 platform began to complain about cracks in the screens that...

News30 mins ago

UMC is credited with the intention to raise prices for the production of semiconductor products at 40 nm

Citing data from Taiwanese chip makers, the source claims that United Microelectronics Corp (UMC), which produces semiconductor products under contracts,...

Components2 hours ago

Biostar unveils AMD Radeon RX 6600 XT graphics card

Biostar has announced the release of its variant of the AMD Radeon RX 6600 XT graphics card. Recall that the...

Software2 hours ago

Big Telegram update: video calls for 1000 people, video acceleration and much more

The team of the popular messenger Telegram has announced a major update. Telegram 7.9 brings such innovations as video calls...

Software2 hours ago

Xiaomi started testing Android 12 for Redmi K30 Pro and Poco F2 Pro

The next version of Android (Android 12) has been in beta testing for several weeks now. Google is expected to...

News2 hours ago

Amazon fined in Europe for violating data privacy rules

The European Union has imposed a record high fine of € 746 million on Amazon for processing personal data in...

Gaming2 hours ago

Microsoft has released Windows 10 update with many fixes, including game and performance issues

Microsoft has released a cumulative update for the Windows 10 operating system with many fixes and improvements. Update KB5004296 is...

Components3 hours ago

Sapphire announces RX 6900 XT Toxic air-cooled graphics card

Sapphire appears to be preparing an air-cooled version of its top-end RX 6900 XT Toxic graphics card. Recall that in...

Advertisement

Most Popular