BATTERY MARKET ANALYSIS

Key Developments

• In September 2023, The BMZ Group, a prominent lithium-ion battery manufacturer, acquired Nox Cycles Austria, along with its sister companies in Germany and Switzerland, as well as the Hawk Bikes brand. This acquisition fortifies BMZ's foothold in the e-bike industry, with a specific emphasis on 'Made in Austria' production. Both entities underscore continuity in management, customer relationships, and employees, striving to enhance innovation and expand production and sales under the new alliance.
• In August 2022, MIT researchers unveiled a groundbreaking concept for low-cost batteries, crafted entirely from abundant and inexpensive materials. The novel battery architecture, employing aluminium and sulfur as its two electrode materials with a molten salt electrolyte in between, caters to low-cost backup storage for renewable energy sources.
• In January 2022, BYD and FAW laid plans for a production facility for electric car batteries in northeastern China, boasting an annual capacity of 45 GWh. This endeavor materialized through a joint venture dubbed FAW FinDreams New Energy Technology, with BYD holding 51% ownership and FAW Group owning the remainder.
• In March 2021, a research team at POSTECH (South Korean university) pioneered a significantly faster charging and longer-lasting battery material. This battery material extends the longevity of Li-ion batteries, enabling the production of Li-ion battery electrodes that charge up to 90% in six minutes and discharge 54% in 18 seconds.