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UPDATE 1-Huntsman Corp to boost production of EV battery material by mid-2023

(Adds industry background, details from release)

June 8 (Reuters) - Chemical products maker Huntsman Corp said on Tuesday it was planning to boost production of its electric vehicle (EV) battery material Ultrapure ethylene carbonate at its Conroe, Texas facility by mid-2023 as demand for EVs and materials used in their batteries surges.

The move comes at a time U.S. President Joe Biden’s administration has been pushing for a majority of U.S.-manufactured cars to be electric by 2030 and every car on U.S. roads to be electric by 2040.

Huntsman’s Ultrapure ethylene carbonate is used in lithium-ion batteries for EVs and electronics.

Securing enough copper, lithium and other raw materials to make EV batteries, however, is a major obstacle to Biden's aggressive EV adoption plans, with domestic mines facing extensive regulatory hurdles and environmental opposition. (reut.rs/3v1jI0Y)

Albemarle Corp, Livent Corp and other producers have been scrambling to make more lithium.

The White House on Tuesday acknowledged China’s role as the world’s largest processor of EV metals and said it would expand efforts to reduce dependence on the country.

Huntsman said it had added a range of new high-purity grades of ethylene carbonate for EV battery applications to meet increasing demand.

Reporting by Rithika Krishna in Bengaluru; Editing by Arun Koyyur and Vinay Dwivedi

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