Solid Power, the solid-state battery developer backed by Ford and BMW, is hitting the public markets running with a spike in stock price shortly after trading opened Thursday. The company is one of a handful in the electric mobility space to have gone public via a merger with a blank-check firm. Solid Power announced the […]
EV maker Arrival to build high-voltage battery module assembly plant in North Carolina
Arrival, the electric vehicle manufacturer that aims to break up the assembly line in favor of multiple microfactories, is investing $11.5 million to build a high-voltage battery module assembly plant in Charlotte, North Carolina. The plant will provide batteries for electric buses and vans produced at the company’s microfactories in Rock Hill, South Carolina and […]
Toyota will build its first US battery plant in North Carolina
Toyota Motor will build its first battery factory in the U.S. in North Carolina, the company and state officials confirmed Monday, as more automakers seek to take control of the supply chain with in-house battery manufacturing plants. Toyota will invest $1.29 billion in the plant, which will be called Toyota Battery Manufacturing, North Carolina (TBMNC), […]
Stellantis, Mercedes-Benz invest in solid-state battery developer Factorial Energy
Factorial Energy, a startup working on solid-state batteries for electric vehicles, has added two more major automakers to its investor sheet: Mercedes-Benz and Stellantis, both of which plan to co-develop batteries in separate joint collaboration agreements. Mercedes, a brand of Daimler AG, said it invested a “double-digit million dollar” amount in Factorial. Stellantis declined to […]
Battery Resourcers raises $70M to grow closed-loop battery supply chain
Battery Resourcers, a startup that’s developing a closed-loop approach to lithium-ion battery materials, has closed $70 million in mid-round funding to scale its commercial operations across two continents. The company, which is based in Worcester, Massachusetts, doesn’t just recycle batteries. It’s also engineered a process to turn that recycled material back into critical battery materials […]
Solid Power expands production capacity to deliver test batteries to BMW, Ford in 2022
Solid Power, a battery developer backed by Ford and BMW, is expanding its Colorado-based factory footprint as it prepares pilot production of its solid state batteries early next year. The new production facility will be dedicated to manufacturing one of the company’s flagship products, a sulfide-based solid electrolyte material, by up to 25 times its […]
Cox Automotive acquires battery health company Spiers as ‘EVs take center stage’
Cox Automotive is getting into the electric vehicle battery lifecycle business. The company said Wednesday it acquired Oklahoma City-based Spiers New Technologies (SNT), a business that provides repair, remanufacturing, refurbishing and repurposing services for EV battery packs. The two companies did not disclose the terms of the deal. Cox said the acquisition will help it […]
Ample raises $160M to scale its battery swapping service
Instead of an EV battery being something that needs to be recharged, like an iPhone, Ample wants to turn them into things that can be swapped out, like batteries in a digital camera.
LG Energy Solution inks deal with Australian mining company for nickel and cobalt
South Korea’s LG Energy Solution has entered into a six-year agreement with an Australian mining company for cobalt and nickel, securing a stable supply of key minerals to make electric vehicle batteries. LG Energy, a subsidiary of LG Chem, will purchase 71,000 dry metric tons of nickel and 7,000 dry metric tons of cobalt from […]
GM’s earnings dragged down by Chevy Bolt recall
The twice-issued recall for 2017 to 2019 Chevrolet Bolt electric vehicles cost General Motors $800 million, the company said in its second quarter earnings statement Wednesday. Costs associated with fixing defective Bolt batteries make up the lion’s share of GM’s $1.3 billion in warranty expenses last quarter. CEO Mary Barra specified on an investor call […]