Lithium Battery Industry News, On July 31

1. BASF Reports Drop in Second Quarter Profits

On July 31, it was reported that BASF announced its sales figures for the second quarter of 2024, revealing a total of €16.1 billion, a decrease of €1.2 billion compared to the same period last year, representing a 6.9% decline. The net profit for the second quarter was €430 million, a significant drop of 14% from €499 million in the same period last year.

2. Liontown Produces First Spodumene Concentrate at Kathleen Valley

On July 31, Australian miner Liontown Resources announced that its Kathleen Valley spodumene mine has produced its first batch of spodumene concentrate. The company plans to ship the first batch of spodumene concentrate in the third quarter of 2024. The first phase of the mine project is expected to have a spodumene concentrate production capacity of approximately 511,000 tonnes, with the ramp-up to full capacity anticipated to be completed by the first quarter of 2025.

3. CATL E-Boat Technology Signs Agreement with South Australia Office

On July 31, it was reported that CATL E-Boat Technology has signed an agreement with the South Australia Office, focusing on new energy electric boat tourism projects to accelerate the transformation and upgrading of the marine industry. The collaboration aims to deepen the electrification of vessels, battery swapping technology, and the construction of integrated industrial parks. Leveraging South Australia’s rich marine resources and convenient maritime transport, the partnership strives to develop a world-class tourism destination.

4. Librec to Establish Switzerland’s Largest EV Battery Recycling Plant

On July 31, Lithium Plus News reported that Librec is constructing Switzerland’s first large-scale electric vehicle battery recycling plant in Biberist. The new facility is being built on the site of a former paper mill. Librec plans to start recycling 12,000 tonnes of electric vehicle batteries annually in Biberist from the end of October.

5. BASF Halts Battery Recycling Plant Project in Spain

On July 31, Lithium Plus News reported that German chemical company BASF announced it has decided to pause its battery recycling project in Tarragona, Spain, due to delayed expansion of battery plants across Europe. In its second-quarter 2024 annual report, BASF stated, “We have also decided to pause the battery recycling project at BASF’s large metal refining plant in Tarragona, Spain. We are ready to proceed once the expansion of European battery capacity and the adoption of electric vehicles regain momentum.” BASF CEO Markus Kamieth made similar comments during a conference call.