Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Panasonic Energy Co. Ltd. and Novonix have signed a deal to supply synthetic graphite for the production of electric vehicle batteries. On Friday, Feb. 9, the Japanese firm confirmed that it agreed to a binding off-take contract with the Australian battery materials company to obtain 10,000 tons of graphite.
Panasonic Energy, which supplies EV batteries for Tesla's electric vehicles, said it will procure high-performance synthetic graphite anode from Novonix's battery plants in North America, including one in Tennessee. The manufactured material is expected to be continuously delivered to Panasonic's battery unit in four years starting next year.
Possible Contract Extension
Panasonic Energy and Novonix's deal involves supplying at least 10,000 tons of anode material. According to Capital Brief, the order could be expanded later, as the partners can increase the volume if needed.
Then again, it was revealed that Panasonic Energy could also trim down the initial volume or even cancel the agreement if Novonix fails to deliver. The contract may be terminated if the battery maker thinks its supplier cannot comply with the agreed production milestones.
Novonix's Shares Soars
The Motley Fool reported that Novonix announced its newest deal with Panasonic Energy, and its shares immediately increased by 20%. The investors reportedly got excited with the news, which caused the company's share prices to go up.
"We are excited to announce the finalization of a binding off-take agreement with Panasonic Energy to become a supplier of key anode material for its North American-based facilities," Novonix's chief executive officer, Dr. Chris Burns, said in a press release. "Off-take agreements with high-quality partners such as Panasonic Energy solidify NOVONIX's position as a leader in onshoring the supply chain of synthetic graphite and accelerating the adoption of clean energy in the industry."
Panasonic Energy's chief technology officer, Dr. Shoichiro Watanabe, commented, "We are thrilled about the partnership with NOVONIX, which will bring innovative technologies to key anode material."
