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Biden gives GM and LG a $2.5B loan to build 3 battery factories in 3 states

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.

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This US company says it can process mineral components for EV makers ‘in months’

US minerals

In order to qualify for the $7,500 tax credit, the Biden administration’s Inflation Reduction Act (IRA) requires a proportion of battery minerals in EVs to be extracted or processed in the US or free-trade partner countries. But a lot of automakers simply aren’t prepared for that requirement.

Electrek spoke with Megan O’Connor, cofounder and CEO of Nth Cycle, a Beverly, Massachusetts-based metals processing tech company, about how her company can help EV manufacturers address this challenge quickly.

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StoreDot ships its ‘100 miles of range in 5 min of charging’ battery samples to EV makers

StoreDot 100 miles 5 minutes

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.

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GM and LG to build 3 US EV battery factories with a $2.5B DOE loan

LG GM battery factory

The US Department of Energy (DOE) has announced a conditional loan of $2.5 billion for Ultium Cells, a joint venture of General Motors (GM) and battery manufacturer LG Energy Solution, to help finance EV lithium-ion battery cell factories in three states. The loan is intended to support the expansion of electric vehicle deployment in the US.

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Learn how EV batteries can be profitably recycled in this free, 15-minute webinar

Li-ion battery recycling

Automakers are racing to produce electric vehicles, yet few firms currently know how to recycle old EV batteries. Experts at the Argonne National Laboratory, a US Department of Energy science and engineering research center in Lemont, Illinois, are inviting the public to listen in as experts explore the challenges – and solutions – of recycling lithium-ion batteries.

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EV batteries need graphite – here’s what’s forecast for the vital mineral’s supply

EVs graphite

The mineral graphite, as an anode material, is a crucial part of a lithium-ion (Li-on) battery. Electrek spoke with John DeMaio, president of the Graphene Division of Graphex Group and CEO of Graphex Technologies. Read on to learn what he had to say about why graphite’s so important for EVs, what his company is doing to ramp up US sourcing and processing, and what the graphite supply is expected to be in the next couple years.

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A Louisiana graphite processing plant that supplies Tesla to get a $107M DOE loan

graphite

The US Department of Energy’s (DOE) Loan Programs Office has announced a conditional commitment to lend up to $107 million to Syrah Technologies for its Syrah Vidalia Facility in Vidalia, Louisiana. The facility produces a finished natural graphite-based active anode material (AAM), a critical material used in lithium-ion batteries. 

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