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Toyota is Investing an Additional $2.5 Billion to Expand its North Carolina Factory to Boost EV Battery Production

Toyota is Investing an Additional $2.5 Billion to Expand its North Carolina Factory to Boost EV Battery Production

Toyota Motor Corp announced on Wednesday that it will invest an additional $2.5 billion at its newest U.S. facility, “Toyota Battery Manufacturing North Carolina” (TBMNC), to produce more batteries for electrified vehicles. Battery production is scheduled to begin in 2025. The latest investment brings Toyota’s total investment in North Carolina to $3.8 billion.

Eric Walz2022-08-31 09:45 PT

Honda and LG Energy Solutions to Build a $4.4 Billion Joint Venture EV Battery Plant in the U.S.

Honda and LG Energy Solutions to Build a $4.4 Billion Joint Venture EV Battery Plant in the U.S.

Japan’s Honda Motor Co and battery maker LG Energy Solutions (LGES) are investing $4.4 billion to build a joint venture electric vehicle battery factory in the U.S. The factory will produce lithium ion batteries for Honda and Acura vehicles for the North American market. The battery plant aims to have an annual production capacity of approximately 40GWh, which is enough batteries to power up to 500,000 vehicles.

Eric Walz2022-08-29 10:30 PT

Mercedes-Benz Signs MoU With the Government of Canada to Source the Raw Materials for Electric Vehicle Batteries

Mercedes-Benz Signs MoU With the Government of Canada to Source the Raw Materials for Electric Vehicle Batteries

Mercedes-Benz has signed an MoU with the Government of Canada that will help ensure that the automaker has a reliable supply for raw materials such as lithium to produce all of the electric vehicle batteries its will need by the end of the decade. The MoU is part of the automaker's efforts to set up an entire automotive value chain for the responsible production and recycling of EV batteries.

Eric Walz2022-08-23 10:00 PT

General Motors Announces Two Major Long-Term Supply Agreements for  Enough Lithium and Cathode Material to Build 5 Million EVs

General Motors Announces Two Major Long-Term Supply Agreements for Enough Lithium and Cathode Material to Build 5 Million EVs

For U.S. automaker General Motors, securing long-term supply deals for the raw materials used to produce EV batteries, such as lithium hydroxide, is essential to reach the company's goal of phasing out gas-powered passenger vehicles by 2035. Now GM has announced two major long-term supply deals for enough lithium and cathode materials to build five million EVs, which will be vital to the automaker's electrification plans.

Eric Walz2022-07-27 10:00 PT

Ford to Use Lithium Iron Phosphate Batteries for the First Time as it Aims to Produce 600,000 EVs a Year in 2023, Sets Up Global Supply Chain

Ford to Use Lithium Iron Phosphate Batteries for the First Time as it Aims to Produce 600,000 EVs a Year in 2023, Sets Up Global Supply Chain

​As the world’s automakers make plans to produce millions of electric vehicles, sourcing the raw materials for the batteries needed to power all of these vehicles remains a high priority. Ford Motor Co says its will use new EV battery chemistries and secured contracts for 60 gigawatt hours (GWh) of annual battery capacity to deliver 600,000 EV globally by late 2023. It would make Ford the second-largest U.S.-based producer of electric vehicles behind Tesla.

Eric Walz2022-07-21 10:00 PT

Tesla’s Battery Supplier Panasonic is Working on New EV Battery Technology That Can Boost Range by 20%

Tesla’s Battery Supplier Panasonic is Working on New EV Battery Technology That Can Boost Range by 20%

Tesla’s battery supplier Panasonic says it's working on new technology that can improve a battery’s energy density and boost EV range by 20 percent. If Panasonic achieves its goal, it could boost the range of the Tesla Model 3 for example, by 100 km (62 miles), without increasing the size of the battery pack.

Eric Walz2022-07-13 13:10 PT

Volvo-backed EV Battery Maker Northvolt, Founded by Former Tesla Execs, Raises Another $1.1 Billion to Help Fund its Expansion

Volvo-backed EV Battery Maker Northvolt, Founded by Former Tesla Execs, Raises Another $1.1 Billion to Help Fund its Expansion

​Sweden-based electric vehicle battery manufacturer Northvolt, a company backed by automaker Volvo Cars, today announced the signing of a $1.1 billion convertible note to fund its expansion of battery cell and cathode material production in Europe to meet the growing demand for EV batteries from automakers.

Eric Walz2022-07-06 15:00 PT

Tesla's Battery Supplier CATL Unveils its New ‘Qilin’ Battery That Can Deliver 600+ Miles of Range to EVs

Tesla's Battery Supplier CATL Unveils its New ‘Qilin’ Battery That Can Deliver 600+ Miles of Range to EVs

Battery maker CATL, which is the world’s biggest supplier of electric vehicle batteries, unveiled its latest battery design named the “Qilin”. The energy-dense cell-to-pack battery can allow an electric vehicle to travel over 600 miles on a charge. The battery achieves the world’s highest volume utilization efficiency of 72%, which could become a game changer for the auto industry.

Eric Walz2022-06-23 12:00 PT

Tesla Rival NIO Plans to Produce its Own EV Battery Packs to Improve Profitability

Tesla Rival NIO Plans to Produce its Own EV Battery Packs to Improve Profitability

Electric vehicle startup NIO Inc, which is emerging as one of Tesla’s biggest competitors in China, plans to produce its own electric vehicle batteries as a way to boost profitability and competitiveness in the growing EV segment. NIO’s plans to produce its own batteries were shared by company Chairman William Li on a call with analysts on Thursday.

FutureCar Staff 2022-06-10 12:00 PT

Tesla’s Battery Supplier Panasonic is Close to Selecting the Site of its New U.S. Battery Plant

Tesla’s Battery Supplier Panasonic is Close to Selecting the Site of its New U.S. Battery Plant

In March, Japan's public broadcaster NHK reported that Panasonic Corp was looking to purchase land in the United States for a "mega-factory" that will churn out advanced electric vehicle batteries for electric automaker Tesla. Now after two months, the Japanese company is reportedly close to selecting which U.S. state will be the home of its new factory.

FutureCar Staff 2022-06-03 12:10 PT

Polestar Announces Strategic Partnership With StoreDot, a Company Developing Rapid Charging Technology for EV Batteries

Polestar Announces Strategic Partnership With StoreDot, a Company Developing Rapid Charging Technology for EV Batteries

Polestar, the new electric vehicle brand operated by Volvo Cars and its parent company Geely, announced a new strategic partnership and investment in Israel-based battery startup StoreDot, a developer of extremely fast charging technology for electric vehicle batteries. StoreDot says it has revolutionized conventional Lithium-ion EV batteries by designing and synthesizing proprietary organic and inorganic compounds for a battery’s anode materials.

Eric Walz2022-05-24 06:50 PT

The Electric Mercedes-Benz G-Class SUV Will Use a Silicon-based Battery Developed by Sila Nanotechnologies

The Electric Mercedes-Benz G-Class SUV Will Use a Silicon-based Battery Developed by Sila Nanotechnologies

Mercedes-Benz will use a more energy dense battery developed by California battery startup Sila Nanotechnologies in its upcoming electric G-Class from 2025, the automaker announced on Tuesday. The electric G-Class was first unveiled as a concept at the Munich Motor Show in 2021. The advanced battery will use silicon-based anodes, which are 20-40% more energy dense than comparable cells currently available, Mercedes-Benz said.

Eric Walz2022-05-18 10:00 PT

The World’s Largest EV Battery Maker CATL is in the Final Stages of Vetting Sites in the U.S. to Build a New Factory

The World’s Largest EV Battery Maker CATL is in the Final Stages of Vetting Sites in the U.S. to Build a New Factory

China’s Contemporary Amperex Technology Co Ltd (CATL), which is the world's largest producer of electric vehicle batteries, is in the final stages of vetting sites in the United States to build a battery factory that would supply automakers, two people with knowledge of the plans told Reuters on Thursday.

Eric Walz2022-05-06 09:00 PT

Porsche Leads $400 Million Investment in Lithium-Silicon Battery Developer Group14 Technologies

Porsche Leads $400 Million Investment in Lithium-Silicon Battery Developer Group14 Technologies

The pursuit of new battery technologies by automakers offering higher energy density has prompted Porsche to lead a $400 million investment round in Group14 Technologies, a Washington state based global manufacturer and supplier of advanced silicon-carbon technology for lithium-silicon batteries. Group14 says its next-generation silicon-based battery anode materials will help deliver 50% higher performance than traditional lithium-ion batteries.

Eric Walz2022-05-04 08:15 PT

Sila Nanotechnologies, a Company Founded by Former Tesla Engineer, Buys U.S. Factory to Produce Next-Gen Silicon-based EV Battery Materials

Sila Nanotechnologies, a Company Founded by Former Tesla Engineer, Buys U.S. Factory to Produce Next-Gen Silicon-based EV Battery Materials

Electric vehicle battery developer Sila Nanotechnologies Inc announced the purchase of a new factory in Washington state where its plans to churn out advanced batteries for hundreds of thousands of EVs by 2026, the company announced on Tuesday. Sila's co-founder is a former Tesla engineer who led the technical development of the battery technology for the Tesla Roadster.

Eric Walz2022-05-03 11:00 PT

EV Battery Maker CATL’s Net Income Soars by 185% in 2021 On Strong Demand for EV Batteries, But Warns of Rising Costs of Raw Materials

EV Battery Maker CATL’s Net Income Soars by 185% in 2021 On Strong Demand for EV Batteries, But Warns of Rising Costs of Raw Materials

Chinese battery maker Contemporary Amperex Technology Co Ltd (“CATL”), which is Tesla's battery supplier in China, reported a net profit on Thursday of $2.47 billion for 2021. The soaring profits are a result of growing demand for its electric vehicle batteries from global automakers. However, the battery maker scrapped its dividend and reported weaker profitability at its battery systems division as it warned of surging raw-materials costs.

Eric Walz2022-04-21 15:20 PT

General Motors Announces a Cobalt Supply Deal for Electric Vehicle Batteries With Mining Company Glencore

General Motors Announces a Cobalt Supply Deal for Electric Vehicle Batteries With Mining Company Glencore

General Motors announced today a multi-year cobalt sourcing agreement with Swiss mining company Glencore. The company will supply GM with cobalt to produce electric vehicle batteries from its Murrin Murrin nickel and cobalt mining operations in Australia. Cobalt is a key raw material for electric vehicle batteries and automakers around are entering into supply deals to ensure they have a reliable supply of it for the batteries in their future electric vehicles.

Eric Walz2022-04-12 07:30 PT

Porsche Introduces its New ‘Road-to-X Initiative’ for the Servicing of Electric Vehicles With High-Voltage Batteries

Porsche Introduces its New ‘Road-to-X Initiative’ for the Servicing of Electric Vehicles With High-Voltage Batteries

By 2025, half of all Porsche vehicles will be electrified with either a fully electric or plug-in hybrid powertrain. But servicing these types of high-voltage electric vehicles will present its own set of challenges, so Porsche introduced a new multi-stage service concept called the “Road-to-X Initiative”, which covers everything from the sourcing, manufacturing, sales, servicing, logistics and recycling of EV batteries.

Eric Walz2022-04-11 13:45 PT

Nissan’s First EV With Solid-State Batteries Coming in 2028

Nissan’s First EV With Solid-State Batteries Coming in 2028

The Japanese automaker expects to have a pilot factory manufacturing solid-state batteries for electric vehicles by 2024.


Vineeth Joel Patel2022-04-09 06:45 PT

Stellantis, LG Energy Solution To Invest $4.1 Billion Into Battery Plant in Canada

Stellantis, LG Energy Solution To Invest $4.1 Billion Into Battery Plant in Canada

Construction of the plant in Windsor, Ontario is expected to become operational in the first quarter of 2024 and is reportedly the first large-scale EV battery manufacturing plant in Canada.

Vineeth Joel Patel2022-04-03 07:00 PT

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