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According to official news from NOVONIX, the battery company NOVONIX Limited has signed a non-exclusive testing and development agreement with PowerCo SE, a battery subsidiary of the Volkswagen Group. Under the agreement, NOVONIX will develop, test and analyze customized synthetic graphite anode materials to meet PowerCo’s specific requirements. If the development work is successfully completed, the two parties may enter into a formal supply agreement for mass production, with specific details to be determined at that time.

PowerCo, established by Volkswagen last year, is responsible not only for the international factory operations and battery technology R&D but also for integrating the upstream and downstream of the battery industry chain. PowerCo has selected three locations for its gigafactories: Salzgitter in Germany, Valencia in Spain, and St. Thomas in Canada, with an expected total capacity of 200 GWh per year. The collaboration with NOVONIX will focus on the needs of the St. Thomas plant, aiming to further advance the development of battery materials supply chain in North America.

It is reported that NOVONIX’s plant in Riverside, United States will become North America’s first large-scale production base for high-performance synthetic graphite used in battery, with plans to commence production by the end of 2024. The production capacity will gradually expand to 20,000 tons per year to meet the growing market demand. Recently, the U.S. government has also provided $100 million in funding and $103 million in tax credits to further encourage the company’s investment in localized production of batteries in North America. NOVONIX plans to increase its total production capacity to 150,000 tons per year in the future.

Source: WeChat Official Account—鑫椤锂电

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