Nikola Corporation (NKLA)

[WeTheMarket]

Due to limitation on number of posts, I'll post the following two battery related articles in one post:

1) Nancy Pelosi’s trip to Taiwan creates tension with Tesla battery supplier
By Maria Merano
Posted on August 2, 2022
https://www.teslarati.com/tesla-catl-battery-factory/

Tesla battery supplier Contemporary Amperex Technology Co. Ltd (CATL) decided to delay its plans to build a battery factory in North America after Nancy Pelosi’s trip to Taiwan.

Earlier this year, CATL started scouting sites across North America for its $5 billion cell plant. The Chinese battery supplier was considering sites in Canada and Mexico, capable of producing up to 80 GWh per year. In July, Teslarati reported that CATL narrowed its choices to two locations in Mexico.

However, Bloomberg sources recently stated that CATL plans to delay its battery factory plans until September or October. According to people familiar with the matter, U.S. House Speaker Nancy Pelosi’s visit to Taiwan might have created tension amid sensitive times between the United States and China.

WHY IS PELOSI’S VISIT CREATED TENSION
China considers Taiwan as part of its territory. During her visit, Nancy Pelosi’s visit seemed to reaffirm Taiwan’s sovereignty as an independent nation. She also hinted at the political ties between Taiwan and the United States.

“Today, our delegation … came to Taiwan to make it unequivocally clear we will not abandon our commitment to Taiwan and we are proud of our enduring friendship,” Pelosi said while standing in the presidential office in Taipei.

The US House Speaker is the highest-ranking US politician to visit Taiwan in the last 25 years. China issued a statement saying that Pelosi’s visit would have “severe impact” on US-China relations. It considers her visit as “provacative.” China reportedly responded to Pelosi’s visit by launching exercises and targeted military operations around Taiwan.

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2) Romeo Power enters long-term supply agreement with LG Energy Solution for 8GWh of Li-ion cells through 2028
13 August 2021
https://www.greencarcongress.com/2021/08/20210813-romeo.html

Romeo Power, a developer of electrification solutions for complex commercial vehicle applications, has entered into a long-term supply agreement for lithium-ion battery cells with LG Energy Solution, Ltd., a Tier 1 battery cell and materials manufacturer.

Under the agreement, LG Energy has committed to supplying cells to Romeo Power that equal 8 GWh of energy through 2028. Romeo Power expects to use the allocated cells to manufacture battery packs for approximately 29,000 electric vehicles sold or operated by its customers.

Romeo Power will facilitate LG Energy’s build of an additional assembly line in Ochang, Korea through a recoupable pre-payment of $64.7 million. The agreement was approved by both Boards of Directors and became effective on 10 August 2021.

Romeo Power’s suite of advanced hardware, combined with its innovative battery management system, delivers safety, performance, reliability and configurability. Romeo Power’s 113,000 square-foot manufacturing facility brings its flexible design and development process inhouse to pack what it says are the most energy-dense modules on the market.