EV batteries

Battery recycling specialist Redwood Materials has announced its next expansion in the US, which includes a new battery materials campus in Charleston, South Carolina. As Redwood’s Easternmost facility in the US, it joins the “Battery Belt” corridor growing between Michigan and Georgia.

Lucid Group and Panasonic Energy announced they have entered into multi-year agreements that entail the latter supplying lithium-ion batteries to both the Lucid Air and Gravity SUV. Part of the agreement supports Panasonic Energy’s plans to expand outside of Japan and begin production at a new facility in the US.

The Biden administration today announced that it’s closed a $2.5 billion loan for Ultium Cells, a joint venture between GM and South Korean battery maker LG Energy Solution. The loan will go toward financing the construction of new lithium-ion battery cell factories in Ohio, Tennessee, and Michigan.

Ford is moving quickly to solidify its position in the rapidly evolving auto industry. The company announced Monday it has broken ground at its BlueOval battery plant as part of its joint venture agreement with SK Innovation. The battery plant is expected to play a critical role in achieving the automaker’s 2 million run rate goal by 2026 by producing batteries for future Ford and Lincoln electric vehicles.

Volkswagen Group CEO Oliver Blume recently shared that the company is actively searching for a home for its first battery cell factory in North America. Furthermore, Blume has named Canada specifically as “one logical option.” By joining Volkswagen’s current EV production footprint in Tennessee, the Group may soon meet the battery manufacturing requirements outlined in the Inflation Reduction Act for vehicles like the ID.4 to continue to qualify for US federal tax credits, while opening the door for more EVs under its umbrella to qualify.

Global battery giant CATL and Vietnamese EV automaker Vinfast announced the signing of a memorandum of understanding to expand upon their current battery supply agreement. With this new “strategic cooperation,” the companies will explore CIIC skateboard platforms for EVs and “other areas” surrounding EV and battery technology.

Later today, the Biden administration is expected to announce $2.8 billion that will be awarded in grants around the US in support of EV battery manufacturing and mineral production domestically. The White House is also launching what is being called the “American Battery Material Initiative” to bolster mineral supply chains for automakers operating in the US.

Since the beginning of 2021, more than 15 new US lithium-ion battery gigafactories or expansions have been announced in a region becoming known as the Battery Belt. Combined, these facilities represent a potential investment of at least $40 billion, according to the Federal Reserve Bank of Dallas. All but one gigafactory exceeds 10 GWh of capacity, and the largest will exceed 40 GWh.

A new ” battery belt” is emerging in the United States as automakers from around the globe race to meet the overwhelming demand for fully electric, zero-emission vehicles. With limited production ability, planned investments to ensure the US has an adequate supply of critical EV battery components exceeds $40 billion.

BMW Group has come out and publicly stated that its future success in a competitive EV market relies heavily on “powerful, innovative, and sustainably produced” battery cells. When BMW’s Neue Klasse (new class) EV architecture launches in 2025, the German automaker says the EV platforms will utilize newly developed 46-mm-diameter battery cells, the same larger design Tesla is using.

In March, electric vehicle battery startup StoreDot said it would produce battery cells that will be able to achieve a charge of 100 miles of range in just five minutes. The Israel-based company has delivered: It’s now shipping production-ready “100in5” EV cell samples to its strategic EV OEM partners and potential customers.

Kia Europe has announced a new partnership with encore Deutsche Bahn to reuse former EV batteries to create scalable energy storage systems. The prototype has already been implemented in Germany using Kia Soul EV batteries and marks the start of the automaker’s Europe-wide initiative.

Although it has only explored 1% of its 55,000 acre site in Canada, carbon-conscious mining company Snow Lake Lithium believes it can enable a massive domestic supply of the chemical element to EV automakers when it begins commercial mining. The company expects its all-electric mine to source enough lithium to power up to 500,000 EVs in North America each year, which could prove vital in the US as the automotive industry shifts its supply chains domestically in order to qualify for revised federal tax credits.

Japanese automaker Toyota continues to delve deeper into a Bizarro-mirrored universe in which it actually (sort of) behaves like an EV automaker. Following news earlier this week in which the EV laggards laid out an $5.6 billion investment plan to build batteries, Toyota is already making moves to convert two engine and powertrain plants near its Japanese headquarters to produce EV batteries instead.

GM has officially begun Ultium EV battery production in the US as part of its $2.3 billion joint venture with LG Energy Solution. The JV’s 2.8-million square foot facility in Ohio is now assembling battery packs for the GMC Hummer EV, but remains hush on what other EVs in the GM family will receive them. Meanwhile, the American automaker continues to work through disputes as its battery factory employees look to unionize.

Following last week’s signing of the Inflation Reduction Act in the US, German legacy automakers Volkswagen and Mercedes-Benz have sealed agreements with the Canadian government to acquire raw materials for EV battery manufacturing at their US facilities. This move could help EVs from both automakers qualify for US tax credits under the revised terms of the recently signed bill.

Commercial EV manufacturer Nikola Corporation announced it has signed an agreement to acquire EV battery developer Romeo Power Inc. Nikola will absorb Romeo’s battery manufacturing facility in Southern California and begin engineering its own EV packs in-house.

Swedish battery manufacturer Northvolt is exploring the possibility of developing batteries that utilize carbon contained in locally sourced wood, to help lower their environmental impact and cost. Together with Finnish forestry company Stora Enso, Northvolt looks to scale this wood battery anode technology.

Solid state batteries have the potential to reduce the carbon footprint of EV batteries by up to 39% compared with liquid lithium-ion batteries, according to the Brussels-based campaign group Transport and Environment (T&E).

Kokomo, Indiana, may not be the location the Beach Boys were singing about, but its definitely the current tune of both Stellantis and Samsung SDI, as the two announced a joint venture to build a US EV battery plant there. Together, the global automaker and battery manufacturer will invest over $2.5 billion to bring a slew of new EV jobs to Kokomo and its surrounding areas.

Building off its 2019 investment in battery materials company Sila, Mercedes-Benz announced a supply agreement to incorporate the former’s silicon anode chemistry into batteries to offer extended range to the upcoming G-Class which includes an electric G-Wagon.