Experts warn that supply of a key component in electric vehicles is hurtling towards a tipping point when global demand will outstrip supply — a moment that could come as early as this year.
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The U.S. Energy Department said Monday that it would lend $2.5 billion to a battery maker owned by General Motors and LG Energy Solution to build battery factories, advancing the Biden administration’s plan to promote electric vehicles and reduce dependence on China for critical components.
Ford Motor said on Thursday that it had reached an agreement to acquire battery packs from a Chinese supplier as it races to ramp up its global production of electric vehicles.
The automaker said it would begin purchasing battery packs next year from Contemporary Amperex Technology Company Limited that will be used in electric vehicles produced in North America and other regions. The Chinese company, which is known as CATL, is the largest battery producer in the world and is often regarded as the most important player in the electric vehicle industry after Tesla.
Efforts to reach carbon neutrality by 2050 are likely to remain out of reach as copper supply fails to match demand amid growing use of solar panels, electric vehicles and other renewable technologies, data from S&P Global showed on Thursday.
Tesla has been the dominant force in the EV world for over a decade now. Musk has achieved this supremacy through pure technological advantage, as his cars have always been years ahead of the rest in every aspect. This trend seems only set to continue with their 4680 battery (read more about it here), which is cheaper, more powerful, and faster charging than anything else on the market. But CATL, one of Tesla’s battery suppliers, recently unveiled their Qilin battery, and it blows the 4680 out of the water. So how has CATL outgunned Tesla? And should Musk be worried?
The EU deal to phase out combustion engine cars in just over 12 years is challenging, but a more daunting obstacle will be making enough batteries to power the electric cars needed as a result, a senior Volkswagen executive said on Wednesday.
The partnership will initially focus on monitoring, recovering and recycling aging batteries from Toyota’s Prius, which came out more than two decades ago, and other hybrid-electric vehicles the Japanese auto giant sells, including Lexus models, at Redwood’s facilities in northern Nevada. The Carson City-based company will also look for other uses for old Toyota battery packs, including refurbishing them for use in new hybrids, cofounder and CEO Straubel said. Over time, as Toyota increases sales of pure electric models and starts making batteries at a plant it’s building in North Carolina, Redwood will also work to collect and recycle those packs.
Redwood Materials, the lithium-ion battery recycling startup founded by former Tesla CTO JB Straubel, is partnering with Toyota to collect, refurbish and recycle batteries and battery materials that can be sent to the Japanese automaker’s upcoming North Carolina battery plant.
WHATEVER ACT OF violence occurred in the midsummer heat on that lonely white hill in Nevada, there was no one around to see it. By the time Naomi Fraga arrived there in mid-September, the air had cooled and investigators had already visited the scene. But the evidence of a selective massacre remained: Where there had once been plants, there were now hundreds of empty holes. A few mangled stems, severed from their roots, lay half buried in the chalky dirt. What alarmed Fraga more than the dead or missing was the selective way they had been targeted. The white hill stood atop a high desert ridge that was once part of an ancient caldera, and it was home to a wide variety of Great Basin flora. There were various species, including saltbushes and sagebrush. But only one appeared to have fallen victim to the unseen attack—a buckwheat. As she walked around the scene, Fraga’s first reaction was disbelief. What, or who, had it out for this particular plant?
As battery-powered electric vehicles become a mainstay on the nation’s highways — and a key piece of President Biden’s environmental policy — the U.S. is facing a formidable challenge in its efforts to compete in the global battery race.