Russia's Nornickel had opened a research and development centre in St. Petersburg to investigate the use of nickel-containing cathode active materials in electric batteries. This marked the first step in the company's move towards battery production. As a leading producer of high-grade nickel, the company stated that the launch was anticipated to lay the foundation for future projects aimed at establishing production facilities within the battery materials sector.
Nornickel, which had reported a 22% drop in first-half profits on 23rd August due to weak nickel prices, logistical challenges, and cross-border payment issues, was said to be closely examining the electric vehicle battery sector. Vitaly Busko, Nornickel's Vice President for Innovations, noted that the decision to open the R&D centre was in line with Russia's broader goals of achieving full-cycle battery production for electric transport.
Busko mentioned to the Russian media during the launch that the company would decide within a year whether to establish a facility for the production of cathode active materials. He also indicated that they were currently searching for a suitable location for the facility.
In April, Nornickel's CEO, Vladimir Potanin, had indicated that the company intended to develop a nickel supply chain for the EV battery sector and form joint ventures with Chinese battery manufacturers. Potanin had also suggested Rosatom, Russia’s nuclear energy monopoly, as a potential partner in a battery venture within Russia.
Furthermore, the company was reportedly exploring ways to integrate into global EV battery production to mitigate the impact of Western sanctions on its business. In July, sources had told Reuters that Nornickel was in discussions with several Chinese battery companies to jointly build a plant producing nickel materials from Russian semi-finished products.
It was noted that electric vehicle batteries function by charging and discharging through the flow of lithium ions between a graphite-containing anode and the nickel-based cathode, which enables higher energy density and extends the vehicle’s range.
