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Chinese EV battery giant CATL reported a 13.4% increase in net profit for Q2 2024, reaching 12.36 billion yuan ($1.70 billion). Despite a 13.2% drop in revenue, CATL's strong performance reflects its technological advancements and strategic market positioning, extending its gains for the second consecutive quarter.
SK On, the South Korean battery unit of SK Innovation, aims to start mass production of lithium iron phosphate (LFP) batteries by 2026, targeting major automakers seeking cost-effective battery solutions.
The "White Gold Rush" has seen Chinese miners employing swift yet outdated extraction and processing methods, resulting in significant pollution of the local environment, as reported by Tibetan researchers. The extraction of lithium deposits is depleting this resource and causing ecological damage in Tibet.