In a virtual meeting with investors, Ford outlined a plethora of plans to expand its electrification efforts. There was a big bundle of news, which will take the media some days to fully unpack, but the gist of it is that, under a plan dubbed Ford+, the automaker will be allocating capital to three priority… Read more »
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GM and LG to build second US battery plant in Tennessee
Ultium Cells, a joint venture of LG Energy Solution and General Motors, have announced plans to build a second US battery cell manufacturing plant, in Spring Hill, Tennessee. The companies will invest some $2.3 billion in the new facility, which will supply battery cells to GM’s Spring Hill assembly plant. Construction on the 2.8 million-square-foot… Read more »
Settlement of dispute between South Korean battery makers is good news for US auto industry
LG Energy Solution and SK Innovation have settled a long-running trade dispute, clearing the way for SK to proceed with construction of a battery factory in Commerce, Georgia that is slated to supply batteries to Ford and Volkswagen. The International Trade Commission decided in February that SK stole 22 trade secrets from LG Energy, and… Read more »
SK Innovation to invest in battery plant in Hungary
SK Innovation will invest $1.148 billion in SK Battery Hungary to build a new EV battery factory. The factory is expected to be constructed in Iváncsa, Hungary, and will have a production capacity of 30 GWh per year. The company’s first and second European plants are also located in Hungary, and the expected third plant… Read more »
Passenger EV battery capacity reached 134.5 GWh in 2020
In 2020, a total of 134.5 GWh of passenger EV battery capacity was deployed globally in newly sold passenger EVs, an increase of 39.6% over the prior year, according to an analysis by Adamas Intelligence. This figure excludes an additional 15 to 20 GWh of installed passenger EV battery capacity idling in sales channels and… Read more »
Group14 secures funding to scale Li-ion battery production
Group14 Technologies, a global provider of silicon-carbon composite materials for lithium-ion markets, has secured $17 million in a Series B funding round led by SK materials, a manufacturer of special gases and industrial gases. Group14 will leverage this operating capital to scale production to meet the increasing demand for its flagship product, SCC55, which it… Read more »
SK Innovation speeds hiring at its first US EV battery plant in Georgia
SK Innovation has announced plans to hire more than 1,000 skilled American workers by the end of 2021 as it prepares for initial production at the first of two EV battery plants being built in Commerce, about 70 miles northeast of Atlanta. SK Innovation is building two EV battery plants at the Georgia site as… Read more »
SK Innovation increases investment in US EV battery business to $2.5 billion
SK Innovation has announced additional investment in its US battery business to fund the construction of a second EV battery plant in Georgia. The company plans to invest a total of $2.5 billion to build two plants at its site in Commerce, Georgia, with a combined annual capacity of 21.5 GWh. SK broke ground on… Read more »
South Korea has fast chargers at 76 gas stations, is planning thousands more
No one can yet say exactly what the charging infrastructure of the future will look like, but there’s certainly logic in the idea of installing DC fast chargers at existing gas stations. A small but growing number of station operators in the US have installed fast chargers. Total, BP and Shell are experimenting with EV… Read more »
SK Innovation and Glencore sign six-year cobalt supply deal
Global mining giant Glencore has signed a deal to supply Korean battery-maker SK Innovation with up to 30,000 tons of cobalt contained in hydroxide between 2020 and 2025. Glencore expects global demand for cobalt for EV batteries to reach 92 kilotons by 2025. The quantity of cobalt supplied under this contract will allow SK Innovation… Read more »