EMN 3.49% 8.9¢ euro manganese inc

The key takeaways from Power Day include:the construction of...

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    The key takeaways from Power Day include:

    • the construction of four battery cell “gigafactories” by 2030, taking its European tally to six
    • Volkswagen Group to be the world’s second largest cell producer
    • 27 EVs will be on sale by the end of 2022 (as Forbes reports, "this equates to rolling over Tesla’s entire lineup every quarter for seven quarters").
    • a new type of cell production will reduce costs by more than 50%, and will find its way into at least 80% of VW's models.

    This could be game changing for potential resources suppliers surrounding VW.

    For instance, there are some significant implications for Euro Manganese (ASX: EMN) and its Chvaletice Manganese Project.

    VW will use high-manganese cathodes for the majority of its electric vehicles going forward, citing their lower cost and comparable range compared with today’s state-of-the-art technology.

    Here, Frank Blome, head of Volkswagen's Center of Excellence for Battery Cells explains the role high-manganese batteries will play in Volkswagen electric vehicles.

    VW plans to increase battery production in Europe scaling to 240 GWH by 2030. The majority of those will be high manganese.

    The factories will also use 200,000 tonnes of lithium per year, which would suit the likes of Vulcan Energy (ASX: VUL).

    Vulcan has developed the world’s first and only Zero Carbon lithium process and plans to produce battery-grade lithium hydroxide from geothermal brines pumped from wells with a renewable geothermal energy by-product in Germany.

    VW's Power Day upped the ante on the shift to electric vehicles and could well speed up the uptake.

    Power Day is a challenge to Tesla, from the world's leading car manufacturer. However, to catch its $650BN market cap, a real change in culture is required.

    VW's new generation of electric cars, anchored by the ID4 crossover, is going global this year.

    Will it be the start of a war to determine who gains global EV dominance?






    ...

 
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