Panasonic Vitality signed a seven-year settlement with Nouveau Monde Graphite Inc. (NMG). The cope with NMG will additional solidify Panasonic’s aim to strengthen its EV battery provide chain in North America.
NMG is an energetic anode materials producer primarily based in Quebec, Canada. Panasonic Vitality’s graphite provide cope with NMG begins with an funding of USD$25 million. The Tesla battery provider additionally plans to speculate further funding of USD$ 150 million with co-investors.
As per the settlement, NMG will observe a mine-to-battery-material mannequin with pure graphite from its Matawinie Mine in Quebec. The Canadian firm will produce anode energetic supplies at its battery materials plant in Bécancour.
Panasonic Vitality additionally signed an settlement with Novonix, a battery supplies and know-how firm in Queensland, Australia. The deal between Panasonic and Novonix was additionally for a provide of graphite for electrical car (EV) battery manufacturing.
The US Inflation Discount Act (IRA) of 2022 has emphasised the significance of sourcing battery supplies from particular international locations—normally these inside North America or which have a commerce settlement with the USA. Given the IRA’s strict battery sourcing necessities, Panasonic’s strikes are effectively thought-out and can seemingly place the battery provider in a greater place sooner or later.
Panasonic’s curiosity in graphite may not be shock, contemplating certainly one of its prime shoppers has additionally been closely investing within the battery materials. Tesla has signed a couple of buy agreements for graphite through the years.
In 2021, Tesla signed an settlement to buy battery-ready graphite from Melbourne-based Syrah Assets Ltd. In 2022, Tesla began on the lookout for battery materials sources outdoors of China. One of many places the US-based automaker thought of was Balama, Mozambique—one of many world’s largest graphite mines.
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