Elon Musk's battery demand boom lifts Japan supplier Tanaka
Tanaka Chemical is upping output to meet increasing need for its materials for making cathodes
Tokyo
AS Elon Musk pushes out from his California base to make electric vehicles ubiquitous, a company halfway around the world and deep in the depths of the battery supply chain is riding his wake.
Tanaka Chemical Corp, which has a long history in developing battery materials, says it's boosting output to meet surging demand for its materials for making cathodes. The Fukui, Japan-based company, which has slightly more than 180 employees, plans to invest 500 million yen (S$6.21 million) to boost output capacity by about 1,000 tonnes a year.
While a relatively small investment, the new money flowing into battery components from Tanaka could be a precursor to even more spending from…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
BHP to decide on future of nickel business by August, trims met coal estimates
Even without war in the Gulf, pricier petrol is here to stay
Gold gains as Middle East tensions lift safe-haven appeal
‘No trade war’, says Biden, pushing to triple tariffs on Chinese steel
Oil falls over US$1 as demand worries outweigh Middle East supply risks
Liberalise South-east Asia’s energy sector to attract more private finance: BlackRock official