Hyundai has opened a $5 billion joint battery plant with SK On in the United States, as part of its efforts to become America's #2 EV brand. The new plant is expected to play a crucial role in Hyundai's electric vehicle production, providing a stable supply of batteries for its EV models. With this investment, Hyundai aims to increase its EV production capacity and reduce its reliance on external battery suppliers. The plant's production capacity and exact location were not disclosed, but it is expected to create thousands of jobs and contribute to the local economy. This move is seen as a significant step forward for Hyundai's EV ambitions, and it will be interesting to see how the company's EV sales perform in the coming years. Electrek

A recent study has found that Tesla's lithium iron phosphate (LFP) battery holds its charge better than other battery types. The study, which analyzed data from nearly 10,000 real-world EV battery tests, found that the LFP battery retained an average of 93.3% of its initial capacity after 62,000 miles. This is significantly better than other battery types, which retained an average of 80-90% of their initial capacity over the same distance. The study's findings suggest that LFP batteries may be a more durable and long-lasting option for EVs, which could have significant implications for the battery industry. Electrek

Hunan Yueneng has announced plans to invest 24 billion yuan in a mineralized integrated new energy battery material recycling industry project in Guizhou province. The project, which is expected to take five years to complete, will involve the construction of a recycling facility that can process 800,000 tons of lithium iron phosphate and 1 million tons of phosphoric acid per year. The project aims to create a closed-loop recycling system for battery materials, reducing waste and increasing the efficiency of the battery production process. This investment is seen as a significant step forward for the development of China's battery recycling industry, and it will be interesting to see how the project progresses in the coming years. 36氪