Tesla Motors, Inc. (NASDAQ:TSLA), BYD COMPANY LTD ADR (BYDDY) – Li-Metal Says Pilot NY Plant Produced First Batch Of Lithium Anode; Reiterates Plans For Commercial-Scale Production By 2025

Li-Metal Corp (CSE: LIM) said on Thursday it has produced the first batch of lithium anode product at its just-commissioned anode pilot plant in Rochester, New York, and reiterated plans to reach commercial-scale production by 2025. 

What Happened: The Toronto, Canada-based company said the development significantly ramps up its lithium anode samples production capacity required by battery makers for product qualification.

“The production of our first ultra-thin lithium metal anode product from our pilot production plant marks an important milestone on our path to commercialization of next-generation battery technologies in North America,” Maciej Jastrzebski, founder and CEO, Li-Metal said in a statement to Benzinga.

Li-Metal has been developing low-cost anodes for battery developers amid rising demand and the need for superior lithium anode material.

The company said its first product is an ultra-thin metallic lithium anode that could reduce the cost of batteries while improving their energy density. 

The product will now be tested to meet the quality standards and required specifications of battery developers. 

The company said it can now produce thousands of large pouch cells annually from the new facility.

See Also: How Electric Vehicle Battery Trends Could Shape Up In 2022

Why It Matters: Battery makers and suppliers are going to play a crucial role in further growing the pace of electric vehicle adoption as well as bringing down EV prices, which are currently beyond the reach of a large population. 

The need for lithium metal anode production will be critical in the coming years as legacy automakers such as General Motors Co (NYSE: GM), Ford Motor Co (NYSE: F), Volkswagen Group(OTC: VWAGY) rush to catch up with the industry disruptor Tesla Inc (NASDAQ: TSLA). 

These OEMs are expected to advance next-generation batteries to product qualification for EVs in the coming years.

The need for high-performance anodes is expected to surge as total demand for lithium-ion batteries is expected to exceed 2.6 TWh per year, according to BloombergNEF and total annual EV production is expected to exceed 30 million vehicles per year. 

Already, the world’s largest battery makers such as CATL are pumping in billions to meet client demands.

See Also: Why Analyst Sees GM’s All-Electric Silverado Launch On Wednesday As A ‘Renaissance’ Moment For Legacy Automaker

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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