Japanese Tesla supplier to take on Chinese rivals

Big demand: A Sumitomo Electric car charging station is seen in the parking garage of Union Station in Washington. The company’s plans to make a cheaper type of EV battery containing no nickel is poised to gain popularity. — Reuters

TOKYO: Japan’s Sumitomo Metal Mining Co wants to start making materials for a cheaper type of electric vehicle (EV) battery – containing no nickel – that’s poised for global popularity after storming the world’s top EV market, China.

Iron-based batteries known as LFP have rapidly expanded their role in China as a lower-cost rival to varieties with nickel, especially in smaller and low-range vehicles.