LG Energy Solution (LGES) has signed a major supply agreement with Ford Motor Company to provide 109 GWh of battery modules for Ford’s electric commercial vehicles in Europe, starting in 2026, with production taking place at LGES's Poland plant. In the US, LGES will produce batteries for Ford’s Mustang Mach-E at its Michigan plant from 2025. SMM believes that

In September 2024, the last month of 2024Q3, the overall shipment and price of sodium batteries were relatively mediocre, falling short of previous market expectations. Financing for some enterprises stagnated, affecting the progress of sodium battery projects. Cathode and sodium battery cell enterprises were active, while the anode sector still showed no significant movement.

In September 2024, the sodium battery market performed lower-than-expected, with both shipments and prices appearing mediocre. Some enterprises faced financing difficulties, leading to a slowdown in the development of sodium battery projects. In contrast, cathode active materials and sodium battery cell enterprises were active, while the anode materials sector still lacked significant progress. Production side, the output of sodium cathode active materials and batteries showed a growth trend, while anode materials remained stable. In September, nearly twenty key projects were launched across various regions, with a total investment exceeding 13 billion yuan, an increase of about 30% compared to the previous month.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Oct 15, 2024

[SMM Data: Electrolyte September Production Data] Electrolyte production in September 2024 was up 15.15% MoM, and the increase in October is expected to be 4%.