Amg: The group now expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of around USD 130 million for the full-year compared with USD 200 million it expected previously. The cut was due to lower prices of metals used in batteries, lithium and vanadium, with profits from each expected to drop this year by USD 60 million and USD 10 million respectively.
Lithium prices have fallen around 70% over the past year as EV sales growth slowed, but capacity expansions by chemicals makers and government support globally bode well for the market longer term, Pilbara Minerals CEO Dale Henderson said.
Globaldata: The increasing adoption of EVs over the past decade has fuelled a heightened need for electrode materials that exhibit superior efficiency and extended lifespan.
Tata is in the early stage of discussions to carve out Agratas Energy Storage Solutions as an independent unit, the report said, citing people familiar with the matter.