Global Energy Storage: Battery Weekly 19 October

This weekly global energy storage and battery report covers developments across North America, Asia and Europe. In North America, GM is tapping South Korean suppliers for its next-generation prismatic LMR batteries developed with LG Energy Solution, targeting ~33% higher energy density than LFP at similar cost, with mass production at Ultium Cells' Spring Hill, Tennessee plant in 2028; LG Energy Solution is restructuring its ESS equipment supplier base after Daejin Machinery's default; Trafigura signed a 10-year deal for 100,000 tonnes of battery-grade lithium products from EnergyX worth over US$2 billion; and Rivian expanded its recycling partnership with Redwood Materials, which already deploys 10 MWh of second-life storage. In Asia, Chinese lithium futures fell 10% to RMB104,740/tonne after an EU-China agreement restricting Chinese hybrid vehicle exports, with the market expected to move toward balance in 4Q26 and into surplus over the following two years;