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Toyota premieres Toyota-brand battery electric vehicles ahead of 2020 China launch

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Toyota premiered its C-HR and IZOA battery electric vehicles (BEVs) as part of its activities on the opening day of Auto Shanghai 2019. The C-HR and IZOA will be the first battery-electric vehicles (BEVs) to launch in China under the Toyota brand. Sales on the new models are slated to start from 2020.

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BorgWarner on track for ~$3.7B of electric vehicle revenue by 2025

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billion of electric vehicle revenue by 2025. The company now expects its 2022 electric vehicle revenue to grow to approximately $850 million—more than double what it was in 2021. Target markets include depots for electric buses and trucks, with a focus on the North American market. Earlier post.)

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Xpeng delivered 27k EVs in 2020; 5,700 in December

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Xpeng Inc, a Chinese smart electric vehicle company, announced its vehicle delivery results for December 2020, the fourth quarter and year-ended December 31, 2020. The company’s December deliveries represent a 326% increase year-over-year and a 35% increase from November.

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BYD, Toyota to establish joint company for battery-electric vehicle research and development

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BYD Company Ltd. and Toyota Motor Corporation signed an agreement to establish a joint company to research and development for battery-electric vehicles (BEVs). We hope to further advance and expand both BYD and Toyota from the efforts of the new company with BYD.

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Direct lithium extraction company EnergyX secures $20M in funding commitments

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Direct lithium extraction (DLE) technology company Energy Exploration Technologies Inc. The company said that the funding makes it the highest-valued direct lithium extraction technology company on the market. In 2020 global supply was roughly 315k tons; this is expected to rise to 5.5M Earlier post.) tons by 2040.

Companies 448
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Solid-state battery company Quantumscape to list on NYSE; $3.3B valuation

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QuantumScape Corporation, a developer of next generation solid-state lithium-metal batteries for use in electric vehicles, and Kensington Capital Acquisition Corp., Upon closing of the transaction, the combined company will be named QuantumScape and is expected to remain listed on the NYSE and trade under the new ticker symbol “QS”.

Companies 468
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BloombergNEF annual battery price survey finds prices fell 6% from 2020 to 2021

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This marks a 6% drop from $140/kWh in 2020. Continuing cost reductions bode well for the future of electric vehicles; however, the impact of rising commodity prices and increased costs for key materials such as electrolytes has put pressure on the industry in the second half of the year.

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