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 Walz2022-10-28 09:41 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

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 Walz2022-05-28 15:20 PT

Tesla Signs a Secretive Deal With Brazilian Mining Company Vale S.A. to Supply Nickel for EV Batteries, Bloomberg Reports

Bloomberg News reported on Wednesday that Tesla has signed an undisclosed deal with Brazilian mining company Vale S.A. to supply nickel to the electric automaker. Vale is the world's largest producer of iron ore, pellets, and nickel. Demand for nickel is expected to rise with the auto industry's transition to electrification.

Eric Walz2022-05-06 08:15 PT