SVOLT Energy Technology celebrated the world premiere of cobalt-free lithium-ion battery cell (NMx) and four-element lithium-ion battery cell (NCMA).
Image: SVOLT to build new factory in Europe. Photo: Courtesy of Business Wire
In view of the two major challenges the electric-vehicle battery (EVB) industry faces, safety and cost, SVOLT has provided two novel product solutions, steering the industry in the new direction.
In the product launch event, Mr. Yang Hongxin, General Manager of SVOLT, said that the NMx battery cell rivals the NCM811 cell in performance, while reducing the cost of materials by 5%-15% and the cell BOM cost by around 5%, and allows the materials to rise above strategic resources. On the other hand, the NCMA material not only outperforms NCM811 in cycle life, but also exhibits better resistance to heat, the ability to generate less gas and greater safety, which translates into higher capacity, longer cycle life and better safety performance in the final products.
Based on a global layout mindset, SVOLT also announced its plan to build a base in Europe. Two billion euros ($2.24 million) will be invested to build a 24GWh battery factory, a factory for cathode materials and a battery technology center. It will also integrate its 6 manufacturing bases around the globe into its AI factory construction plan.
SVOLT grew from the Battery Business Unit of Great Wall Motors Co. Ltd, and became independent in February, 2018. It is primarily focused on EVB business, embracing an open supply to automakers around the world. Since its establishment, SVOLT has been committed to the product development based on the high-speed stacking technology of prismatic batteries and “automotive grade” standardization, ushering the industry in a new “Stacking Age”.
Mr. Yang Hongxinalso elaborated on the concept of ‘Stacking Age’: an era specially born for electric vehicles, in which new technologies, new materials, new processes and new standards, characterized by the stacking process, will flourish.
Source: Company Press Release