OCTOBER 20239TOP STORIESHINDUSTAN ZINC PLANS TO UTILISE GREENLINE LNG-FUELED TRUCKSGreenLine Mobility Solution, Hindustan Zinc HZNC.NS in India will utilise the LNG-powered fleet of GreenLine Mobility Solution in its supply chain and transportation activities to reduce its carbon footprint.India, the third-largest producer of greenhouse gases in the world, is working with businesses to achieve its goal of net-zero emissions by 2070.Hindustan Zinc has already committed to achieving net-zero carbon emissions by 2050.Essar Group-backed GreenLine said that it would invest 2 billion rupees in the deployment of LNG-powered vehicles for Hindustan Zinc's road operations.Arun Misra, chief executive of Hindustan Zinc, a Vedanta Group firm, stated that by deploying LNG trucks, the company was showing its commitment to decarbonizing Indian mining as well as setting the path for a transportation revolution. LGES WILL PROVIDE BATTERIES TO TOYOTA AND INVEST $3 BILLION IN A US FACTORYToyota Motor and LG Energy Solution have agreed to supply lithium-ion batteries for use in the Japanese automaker's electric vehicles made in the US beginning in 2025. The US Inflation Reduction Act has sparked an investment tidal wave in new EV battery factories in North America, which was capped by the Toyota-LGES announcement. Incentives are offered by the IRA and other US laws to increase American manufacture of EVs, batteries, and raw materials. LGES will invest $3 billion in its battery manufacturing facility in Holland, Michigan to supply Toyota's Kentucky factory from specialised production lines. LGES is also a participant in the Ultium battery joint venture with General Motors, which is constructing a different $2.1 billion factory in Lansing, Michigan, to supply GM's electric vehicles.LGES will now be able to provide batteries from its eight jointly run and fully owned North American facilities to five leading manufacturers, including Stellantis, Hyundai, and Honda, thanks to the arrangement with Toyota. According to Benchmark Mineral Intelligence, there are at least 37 battery factories now in operation or scheduled for construction in the US and Canada, totaling 1.3 terawatt-hours of annual output capacity. That would be sufficient to fuel more than 10 million electric vehicles annually. In comparison to the North American expectations, Benchmark estimates that there are 291 battery plants either operating or planned in China, with a total annual manufacturing capacity of 6.1 TWh.
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