#EV and #Battery #Stocks in the News (TSXV: $NBM.V)
(OTC: $NBMFF), (NASDAQ: $RIVN), (NASDAQ: $LCID), (NYSE: $F), (NYSE: $GM) @neo_battery
@Rivian @LucidMotors @Ford @GM
#BatteryMakers and #Automakers Making #ElectricVehicles
a Reality
Vancouver,
Kelowna, Delta, BC –January 28, 2022 - Investorideas.com, a leading
investor news resource covering EV and battery technology stocks releases a
special report featuring NEO Battery
Materials Ltd. (TSXV:
NBM)
(OTC: NBMFF), a
Vancouver-based company focused on battery materials. The ongoing chip and
battery shortages are leading battery makers to innovate and look for new
alternatives, while EV manufacturers continue to struggle to meet demand.
Read this article,
featuring NBM in full at https://www.investorideas.com/news/2022/renewable-energy/01281EV-Battery-Stocks.asp
A
recent CNBC
article
discussed expectations for the EV market saying, “If 2021 was the year for
electric vehicle stocks, 2022 is the year for actual deliveries. Investor money
this year poured into Rivian and Lucid Motors, valuing the EV companies at a
combined $150 billion. Neither company has generated meaningful revenue and
they’ve just begun getting keys into the hands of consumers.”
“The
question is going to be who starts production and is able to convert this
interest and the investments in the brand into deliveries and happy customers,”
said Vitaly Golomb, a tech investment banker who focuses on EVs at Drake Star
Partners. ”That’s really the next
phase.”
NEO Battery Materials Ltd. (TSXV:
NBM) (OTCQB:
NBMFF), a company looking to address the battery shortage, recently
announced that
the Company has successfully received the final site approval by the Province
of Gyeonggi to construct the commercial plant facility of NEO's patented
silicon anode materials, NBMSiDE, for electric vehicle lithium-ion batteries.
Through NEO Battery Materials Korea Co.,
Ltd., a wholly-owned subsidiary of NEO, the Company secured land with
approximately an area of 106,700 square feet, or 2.5 acres, for the initial
phase of the NBMSiDE Commercial Plant Facility.
NEO initiated the site search in August of
2021 after the announcement of a strategic decision made to construct its
silicon anode commercial plant in South Korea. After intensive research,
communication, and negotiations with 2 provincial authorities, NEO had decided
to apply to Gyeonggi-do. NBM Korea has qualified an extensive and strict
due-diligence process by the Province's authorities and the Foreign Investment
Review Board based on NEO's commercialization timeline, viability and economic
impact of the business with regards to the current battery materials industry
and its downstream products, and various background reviews and stress tests.
NEO's benefited land is situated in an
industrial complex known as Oseong International (Foreign) Investment Zone in
Pyeongtaek City, in which the land is designated solely for the use of foreign
investment companies qualified by the Province of Gyeonggi. As a qualified
company, NEO is entitled to several benefits and subsidies that will translate
into both drastic cost savings in the short- and long-term for the anode
material plant facility. The benefits include a 99% reduction of annual lease
payments (or a payment of 1% of the officially assessed land value) with a
long-term-based lease contract, and further to it, the annual lease payment can
be immediately minimized to zero after the completion of the plant construction
and fulfillment of requirements by the Province. The maximum lease period for
the land is 50 years.
The Company may also access various tax
incentives and active collaboration activities with the Province to promote
NEO's business in South Korea and overseas. Corporation tax, income tax, land
transfer tax, and customs taxes may be fully exempted for 5 years and may be
reduced by 50% for an additional two years. NEO could also access provincial
financial support for equipment purchases, employment subsidies, and
education/training subsidies.
Mr. Spencer Huh, President and CEO of NEO
said, "We are more than happy about the site approval. Our NEO and NBM
Korea team have been eager and diligent to receive approval from the Province
of Gyeonggi for the past 3 months as this site in the Foreign Investment Zone
was the only remaining land apportioned for companies operating in the battery
materials industry. Despite our status as a micro-small capitalization foreign
company compared to existing sizeable businesses in the Oseong Zone, NEO was
approved by Gyeonggi Province and the Foreign Investment Review Board. For the
past 2 months, during the review and due-diligence process from the Province,
we had actively held dialogue with the Province's officials and representatives
to respond and fulfill any requests for further investigation."
"We strongly believe that the Province
highly appreciated and held confidence in our clear roadmap of NEO's silicon
anode, NBMSiDE, commercialization plan along with our proprietary technology
and our high managerial capacity accustomed to the lithium-ion battery
industry. We greatly thank Gyeonggi-do for returning a decision for approval
much faster than our expectation, and we also thank our NEO team and our valued
shareholders for the committed trust and patience," added Mr. Huh.
Gyeonggi Province's Oseong International
Investment Zone is a complex-type industrial park that captures 3.9 million
square feet of land and houses foreign-invested companies such as Korea
Superfreeze Inc. - a logistics business that retains a facility for COVID
vaccine, import, and hydrogen fuel cell distribution. The Oseong Zone possesses
exceptional infrastructure with geographic and supply chain advantages, being
in proximity with large battery cell and automotive manufacturers. The
Province's officials have emphasized for the Oseong Zone to become a center for
green growth, attracting companies with transformative and cutting-edge green
technologies to be a part of the ecosystem.
This follows Rivian Automotive Inc. (NASDAQ:RIVN) who announced back in December
that Rvian will expand its manufacturing operations, locating its second US
plant in the State of Georgia. A carbon-conscious campus is planned east of
Atlanta, in Morgan and Walton Counties. The project represents a $5-billion
site development and manufacturing investment.
The plant, which will eventually employ
more than 7,500 workers, represents a key next step as Rivian scales
aggressively toward higher-capacity production for our future generation of
products. Once ramped, the Georgia facility will be capable of producing up to
400,000 vehicles per year. Construction on the facility is expected to begin in
summer 2022, and the start of production is slated for 2024. Site
considerations included logistics, environmental impact, renewable energy
production, availability and quality of talent and fit with Rivian company
culture.
Rivian’s almost 2,000-acre parcel will
include abundant natural space. As with our facility in Normal, Rivian will
develop community engagement and workforce training programs in the area.
Rivian is also scaling its capacity at its
existing plant in Normal, Illinois. Rivian’s Normal plant was recently approved
for a 623,000-square-foot expansion, which will bring the total footprint of
the Normal plant to approximately 4 million square feet, with further plans to
extend warehouse, storage, and production capacity onsite. Rivian’s hiring in Normal
is scaling rapidly, with plans to hire an additional 800-1,000 employees by the
second quarter of 2022.
Lucid Group (NASDAQ:
LCID),
which is setting new standards with its advanced luxury electric vehicles (EVs)
also made moves in December having announced the appointment of
Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer,
and Mustally Hussain as Managing Director, Global Treasurer and Head of
Financial Services. Together, they bring decades of strategic leadership
experience in building accounting and financial functions at various
multi-national organizations.
"I
am thrilled to welcome Gagan and Mustally to Lucid as we embark on another year
of unprecedented growth for the company," said Sherry House, CFO, Lucid
Group. "With their leadership and deep expertise, we'll be able to further
develop and maintain critical infrastructure within Lucid that will best serve
our stakeholders against the backdrop of the company's global expansion and
growing demand for its products."
Mr.
Dhingra will be responsible for leading accounting, tax and internal control
functions, reporting to Ms. House. He brings with him more than 20 years of
experience in accounting and finance. Most recently, he served as Chief
Accounting Officer at Anaplan, an enterprise software company where he was
responsible for accounting, tax, treasury, stock administration and procurement
functions. Prior to Anaplan, Gagan worked in various leadership roles with
increased responsibilities at global organizations, including Seagate,
McKesson, and Ernst & Young.
Mr.
Hussain, also reporting to the CFO, will provide strategic leadership to the
Treasury, Risk and Financial Services functions, He will be responsible for
capital markets activities, banking relationships, global cash management,
financial risk management, global insurance, and financial services including
customer loans and leases. Additionally, he will focus on working capital
management and help ensure continuous improvement of the balance sheet and cash
flow with responsibility for optimizing the company's capital structure. Most
recently, he served as Vice President & Treasurer at Herc Holdings Inc. and
in leadership roles at Hyundai Capital America and National Grid.
The
big news in the EV space however was the recent meeting this Wednesday between
Joe Biden and top EV and Automotive CEO’s.
Ford
Motors (NYSE:
F) CEO, Jim Farley had
mentioned earlier in
the week how keen he was on seeing President Joe
Biden's stalled Build
Back Better bill passed
in an effort to boost electric vehicle adoption in the United States.
"It's mission critical for the EV
industry," Farley said on Yahoo
Finance Live.
As it stands now, the Build Back Better
(BBB) bill would offer credits of up to $12,500 for consumers if they purchase
an electric vehicle. The bill would also aid in the development of more public
charging stations.
Both aspects of the bill are seen as key in
helping to reach Biden's goal of having half of all new vehicles sold by 2030
becoming electric vehicles.
But after passing the US
House of Representatives last year, the $2.2 trillion bill has died in the
Senate amid concerns on the price tag and the potential of stoking greater
inflation.
"If we don't get our act
together, we'll be behind as a country. It's not just about helping consumers
make this transition. All the battery production, all the jobs, the raw
material development in our country, all the intellectual property. We were the
number one employer in the United States in the auto sector. We want these
American jobs, these innovative technology jobs to come to America. This bill
and the incentives for consumers will absolutely be the key thing to help us do
that. We need to be competitive as a country," Farley explained.
Farley joined General Motors Company (NYSE:
GM) CEO Mary Barra, HP CEO Enrique Lores and Etsy CEO Josh
Silverman, just to mention a few of the top leaders that met with Biden on
Wednesday to discuss the Build Back Better Bill.
Demand for EV’s is only
expected to grow as more automakers jump into the fray and 2022 may prove be a
good year for the EV market as cars start to reach customers and the market
moves past speculation and into execution.
About
Investorideas.com - News that Inspires Big Investing IdeasInvestorideas.com
publishes breaking stock news, third party stock research, guest posts and
original articles and podcasts in leading stock sectors. Learn about investing in stocks and get
investor ideas in cannabis, crypto, AI and IoT, mining, sports biotech, water,
renewable energy, gaming and more. Investor Idea’s original branded content
includes podcasts and columns : Crypto
Corner , Play by Play sports and
stock news , Investor Ideas Potcasts Cannabis News and Stocks on the Move
podcast , Cleantech and Climate Change , Exploring Mining , Betting on Gaming Stocks Podcast and the AI Eye
Podcast.
Disclaimer/Disclosure :Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure: this
news article featuring NBM is a paid for news release on Investorideas.com –
(two thousand) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp
Learn more about publishing your news release and our other news services on
the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com
Global investors must adhere to regulations of each country.
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Contact
Investorideas.com
800-665-0411
RenewableEnergyStocks.com:
investing ideas in renewable energy stocks
Like Renewable Energy Stocks? View our Renewable Energy Stocks Directory
Get News Alerts on Renewable Energy Stocks
Buy a renewable energy guest
post on Investorideas.com
