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General Motors Plans to Phase Out Lithium Iron Phosphate Batteries
General Motors is shifting its EV battery strategy away from lithium iron phosphate (LFP) cells toward lithium-rich manganese-based (LMR) batteries, aiming for higher energy density and reduced reliance on critical minerals like nickel and cobalt. While LFP production will continue for energy storage, GM targets LMR mass production by 2028.
Huayou Cobalt to Acquire African Lithium Asset for RMB 1.43 Billion
Huayou Cobalt is acquiring 100% of Atlantic Lithium for USD 210 million (RMB 1.43 billion), gaining full control of the Ewoyaa lithium project in Ghana. The asset holds 1.127 million tonnes of lithium carbonate equivalent, strengthening Huayou’s upstream resource base amid volatile lithium markets.
Geopolitical Conflicts Accelerate Global Electrification Transition
Rising geopolitical tensions, particularly in the Middle East, are transforming electric vehicles from a choice into a strategic necessity. Across Europe, India, Japan, and the U.S., EV adoption is accelerating despite regional market differences, driven by energy security concerns and shifting consumer economics.