EV Battery – Samsung Unveils Revolutionary Batteries for Electric Vehicles 31-07-2024
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Covestro’s Stable Sales but Lower Margins
In the second quarter, volume growth offset the decline in average prices. Negotiations with Adnoc continue. The second quarter of 2024 was marked by resilience for the German chemical group Covestro, despite declining margins. Between April and June, sales reached 3.7 billion euros, nearly the same level as in 2023, thanks to increased volumes offsetting lower average prices. EV Battery
The EBITDA fell by nearly 17% to 320 million euros due to pricing dynamics, resulting in a net loss of 72 million euros compared to a profit of 46 million euros in the same period last year.
In the first six months of the year, sales totaled 7.2 billion euros, a decline of 3.5%, while EBITDA decreased by 11.6% to 593 million euros. EV Battery
Regarding ongoing initiatives, through the Strong program launched in June, Covestro aims to cut costs by 400 million euros annually by 2028, nearly half (190 million) in Germany alone.
Negotiations with Adnoc for a potential investment in the company at a value of 62 euros per share are also continuing. EV Battery
Innovative Flexible Solid-State Batteries: A Breakthrough by the American Chemical Society
Researchers at the American Chemical Society (ACS) have developed a revolutionary new type of flexible solid-state battery that promises to extend battery life and prevent failures.
Challenges of Flexible Battery Cells
Flexible batteries face several intrinsic problems. Firstly, their moderate elasticity doesn’t completely eliminate the risk of permanent deformations and breakages.These batteries suffer from limited storage capacity and high electrical instability, as the electrolyte and electrodes must interact correctly even when the cell changes shape. EV Battery
The Flexible Solid-State Battery Design
The ACS researchers have overcome these challenges by incorporating the electrolyte into a polymer, sandwiched between two flexible films acting as the anode and cathode. These are mounted on a conductive plate containing silver nanowires, carbon, and other lithium-based materials. This innovative design results in a fully flexible and stable solid-state battery. EV Battery
Superior Performance
Compared to traditional lithium-ion batteries, the new flexible solid-state battery boasts six times the charge capacity and has demonstrated stability over approximately 1,000 charge cycles. This breakthrough design holds promise for extending the life and reliability of batteries in various applications, marking a significant advancement in battery technology.
Nyobolt Batteries Charge Cars in 4 Minutes
Founded in 2019, Nyobolt aims to produce high-performance, fast-charging batteries for electric vehicles. Recently, they achieved a remarkable milestone: a 4-minute charge time. Nyobolt is developing ultra-fast batteries to ensure electric vehicle owners can use their cars more efficiently, especially in unexpected situations. Their latest test recorded a charging speed that sets a new record: ready to use in 4 minutes and 37 seconds.
How Nyobolt Achieves Ultra-Fast Charging
The secret to Nyobolt’s ultra-fast batteries lies in reducing the heat within the cells. The result from the English startup’s lab was obtained using a 35 kWh battery, charging from 10% to 80% in just 4 minutes and 37 seconds. The company disclosed that the key to managing the heat produced by the batteries is using specific materials like metal oxide and carbon to coat the anode. EV Battery
Nyobolt’s patent ensures that the cell temperature never exceeds 60 degrees Celsius. Initially, production and application may be limited to sports cars and small automotive competitions.
Impressive Test Results
According to Auto.it, other manufacturers have tested the battery’s lifespan, confirming over 4,000 charge cycles and a residual capacity above 80% after more than 960,000 kilometers.
Key Evaluations
Nyobolt’s low-impedance cells enable us to offer sustainability, extending battery life up to 600,000 miles in our technology lab.” EV Battery
In summary, Shivareddy emphasized the durable and consistent 500 Ampere charging power within the first 4 minutes.
Houthi Attacks Severely Impact Suez Canal Revenue
CAIRO: Egyptian President Abdel Fattah al-Sisi reported a significant drop in Suez Canal revenues, with a 40 to 50 percent decrease this year due to attacks on shipping by Yemen’s Houthi rebels. The canal is a crucial foreign currency source for Egypt, which is currently facing a severe financial crisis. EV Battery
Since November, Iran-backed Houthi rebels have launched numerous attacks on vessels in the Gulf of Aden and the Red Sea. These attacks, aimed at ships allegedly linked to Israel, have prompted several major shipping firms to avoid the Red Sea, redirecting their routes around Africa. The Red Sea typically handles about 12 percent of global trade.
Al-Sisi, speaking at a conference with oil companies, highlighted the financial challenges, noting that the canal, which previously generated nearly $10 billion annually, has seen a drastic revenue drop. The United Nations reported a 42 percent decline in the number of ships passing through the canal over the past two months. Year-on-year, container ship transits dropped by 67 percent, tanker traffic by 18 percent, and bulk cargo and gas transport also saw significant decreases. EV Battery
Opened in 1869, the Suez Canal raised approximately $8.6 billion in the 2022-2023 fiscal year. This revenue is vital for Egypt’s economy, alongside tourism and remittances, particularly as the country struggles with a shortage of dollars for importers and money changers.
Versalis Posts Loss in Second Quarter
ENI’s chemical sector, managed by Versalis, reported a loss of 220 million euros in the second quarter, bringing the total loss for the first half of 2024 to 390 million euros.
ENI’s Board of Directors has approved the consolidated financial results for the second quarter and the first half of 2024. While the group achieved higher-than-expected adjusted net profits of 1.5 billion euros from April to June, the chemical division, overseen by Versalis, faced significant challenges. EV Battery
Versalis recorded a 220 million euro loss for the quarter, a significant increase from the 70 million euro loss in the same period last year.
For the first half of the year, Versalis’ losses nearly doubled to 390 million euros, compared to 179 million euros in the first half of 2023. ENI attributes this to “extraordinarily adverse market conditions.”
The performance was negatively impacted by “a decrease in demand across all business segments due to a slowing global economy and higher production costs in Europe. This has decreased Versalis’ competitiveness against American and Asian producers in an oversupplied market.” EV Battery
In terms of sales volume, chemical product sales in the second quarter were 760,000 tonnes, down from 820,000 tonnes in 2023, a 7% decrease. However, there was a slight increase in sales for the first half of the year, up 2% to 1.62 million tonnes.
Despite these challenges, plant utilization rates improved in the first six months of the year, rising from 51% to 54%.
Samsung Unveils Revolutionary Batteries for Electric Vehicles
Samsung has launched a cutting-edge solid-state battery with high energy density for electric vehicle (EV) manufacturers.
Samsung has already delivered the first units from its pilot line of solid-state batteries to EV manufacturers, who have been testing them for approximately six months.
These solid-state batteries by Samsung are smaller, lighter, and safer, making them perfect for luxury electric vehicles that can travel over 600 miles on a single charge. However, due to the high production costs, these batteries will initially be used in “super premium” models. EV Battery
Previously, the high cost of production had been a barrier to mass production, with CATL, the leading EV battery manufacturer, forecasting that solid-state batteries wouldn’t be widely available before 2030. However, CATL has now updated its projections, targeting a 1% market penetration of solid-state batteries by 2027.
Beyond solid-state batteries, Samsung is also developing other technologies to compete in the affordable EV segment. The company is working on more economical LFP and cobalt-free batteries, along with a dry electrode production method. EV Battery
To differentiate itself from competitors, Samsung will offer battery packs that can be recharged in just 9 minutes and have a lifespan of 20 years, backed by a 20-year warranty.
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