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 […]
Drunk-driving provision could fuel demand for driver monitoring technology
Companies developing driver detection technology could get a boost from a provision tucked inside the 2,702-page $1 trillion infrastructure bill that would require automakers to build into new cars technology that can tell if drivers have had a few cold ones. The provision in the bill, which is actually a piece of bipartisan legislation called […]
Automakers urge greater government investment to meet Biden’s EV sales target
President Joe Biden is expected to set an ambitious new target for half of all new auto sales in the U.S. to be low- or zero-emission by 2030, a plan that has received tentative support from the Big Three automakers pending what they say will require hefty government support. General Motors, Ford and Stellantis (formerly […]
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 […]
Automakers have battery anxiety, so they’re taking control of the supply
Battery joint ventures have become the hot must-have deal for automakers that have set ambitious targets to deliver millions of electric vehicles in the next few years.