Key Highlights
- Sunrise‘s joint venture is constructing a substantial manufacturing plant in China, while Tesla seeks detailed information about their battery components.
- Tesla‘s pursuit of raw materials for EVs includes engaging with Sunrise and the latter’s growing patent portfolio.
Sunrise New Energy, a manufacturer of battery components, announced on 13th September 2023 that it has attracted interest from electric vehicle manufacturer Tesla Inc. Following this news, Sunrise’s shares surged by up to 11% to reach $1.87 during morning trading.
In collaboration with a joint venture, the Chinese company specializes in producing and distributing graphite anode material for lithium-ion batteries. Tesla relies on lithium-ion batteries to power its electric vehicles.
Building a Massive Manufacturing Plant in Guizhou Province
Sunrise’s joint venture is currently in the process of building a massive manufacturing plant spanning 260,543 square meters in China’s Guizhou province.
Tesla’s Outreach to Sunrise for Battery Components
Sunrise has disclosed that Tesla’s battery raw materials team has reached out, requesting detailed technology information, manufacturing plans, and available production capacity for Sunrise’s products.
- In its effort to secure raw materials for its electric vehicles, Tesla has been forming supply agreements with lithium companies, including Liontown Resources and Core Lithium.
- Additionally, Sunrise revealed that it recently applied for two patents related to its hard carbon composite materials. To date, the company has successfully obtained 25 patents.
FAQs
1. Why did Tesla’s battery raw materials team contact Sunrise?
Tesla’s battery raw materials team contacted Sunrise to request technology details, manufacturing plans, and production capacity information for Sunrise’s products.
2. What recent steps has Sunrise taken regarding patents?
Sunrise has applied for two patents related to its hard carbon composite materials, adding to its existing portfolio of 25 patents.
3. How is Tesla securing raw materials for its electric vehicles?
It is forming supply agreements with lithium companies, including Liontown Resources and Core Lithium.
