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The Federal Aviation Administration (FAA) is investigating the Amazon MK30 drone that struck power lines in Waco, Texas last week.On November 26th, Haima Automobile stated on its interactive platform that the company has always adhered to a development path combining open cooperation and independent innovation in the field of hydrogen fuel cell vehicles, actively working with outstanding partners in the industry chain to jointly promote technology research and development and industrial application. Currently, the company is steadily carrying out demonstration operations of hydrogen fuel cell vehicles and is committed to building a complete hydrogen energy ecosystem.On November 26th, Mizuho Securities analyst Varatan stated that while the dollar remained stable due to a significantly increased likelihood of a Federal Reserve rate cut, it fell as the probability of Hassett being nominated as the next Fed chair rose sharply. The market does not seem to question the Feds independence, with Fed Chairs Williams, Waller, and Daly all supporting a December rate cut. However, Varatan noted that investors are digesting the possibility that Hassett could politicize the Fed. He said the "Hassett effect" could cast a shadow over the dollar, adding that the risk of dollar depreciation remains high as long as this perception of political subservience in Fed chair appointments persists.On November 26th, after Ukraine agreed to a "simplified" version of its 28-point peace plan, Trump touted significant progress in his peace efforts. However, reports indicate that the most intractable issues in the Russia-Ukraine conflict remain unresolved. The Financial Times reported that US and Ukrainian negotiators left key issues regarding territorial concessions and security guarantees "for further discussion," leaving the decision to Trump and Zelensky. This suggests that negotiations have made little progress compared to before the 28-point plan was leaked last week. The 28-point plan, spearheaded by US Special Envoy Vitkov, heavily favored Russias core demands and included a series of unacceptable clauses for Ukraine, including a ban on future NATO membership and the cession of most of the Donbas region in eastern Ukraine. It remains unclear what Ukraine agreed to in the 19-point plan. The Financial Times quoted Ukraines First Deputy Foreign Minister as saying, "Very little of the original agreement has been retained."On November 26th, the overnight SHIBOR was 1.3160%, unchanged from the previous trading day. The 7-day SHIBOR was 1.4530%, up 2.00 basis points; the 14-day SHIBOR was 1.5070%, down 3.30 basis points; the 1-month SHIBOR was 1.5190%, down 0.10 basis points; and the 3-month SHIBOR was 1.5790%, down 0.10 basis points.

LG Chem Will Invest $3 Billion in a U.S. Battery Cathode Plant

Aria Thomas

Nov 22, 2022 14:52

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LG Chem Ltd stated on Tuesday that it will invest in excess of $3 billion to build a battery cathode manufacturing plant in Tennessee. The South Korean maker of chemical materials is intensifying its efforts to meet the rising demand for electric vehicle (EV) components in the United States.


The plant will have an annual production capacity of 120,000 tonnes of cathode materials by 2027, enough to power around 1.2 million electric vehicles, LG Chem said in a statement, adding that mass production will commence in the second half of 2025.


LG Chem indicated in a statement that it plans to actively respond to trends in the global battery material market, such as the Inflation Reduction Act (IRA), with its Tennessee cathode manufacturing.


LG Chem stated that it is expanding raw material supply chain cooperation with mining and recycling groups to help its customers achieve IRA guidelines.


In August, U.S. President Joe Biden signed into law a $430 billion bill that, among other provisions, mandates that, beginning the following year, at least 40% of the monetary value of critical minerals for batteries must come from the United States or a free-trade partner of the United States in order to qualify for U.S. tax credits. This percentage will reach 80% by 2027.


The factory will generate approximately 850 new jobs.