VFBATTERY REPORT
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Notable Events

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Battery Report 2025, page 10: Notable Events

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Notable Events: March Week 1

Week 2

Rio Tinto completed acquisition of Arcadium Lithium for $6B.

Northvolt filed for bankruptcy in Sweden after mounting financial pressures, production ramp-up challenges, and an unsuccessful restructuring attempt, despite investor interest.

Ørsted broke ground for its first large-scale UK battery energy storage system, planned for 600MWh capacity

Samsung SDI secured an ESS battery supply deal with NextEra Energy valued at over 400B Won ($275M).

LG Chem unveiled precursor-free LPF cathode material for batteries, with plans to start production in first half of 2025.

Week 3

SK On and Nissan signed a supply agreement for 100GWh U.S. manufactured, high-nickel batteries from 2028 to 2033 to power Nissan’s next-generation EVs produced at its Canton, Mississippi plant.

Week 4

BYD reported a record 2024 revenue of $107B driven by 40% sales growth in Battery EVs and Hybrid vehicles.

ION Storage Systems (ION) produced its first multi-layer ceramic solid-state battery cell on its semi-automated production line.

TotalEnergies announced investment decisions for 221MW battery storage projects totaling €160 million outlay.

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