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Tesla co-founder’s battery recycling firm gets a cushy $700M investment round

Teslarati

Redwood Materials, a battery recycling company founded by Tesla co-founder J.B. Redwood’s ultimate goal is to create a “closed-loop supply chain for electric vehicles and energy products, making them truly sustainable and continuing to drive down the costs for batteries,” the company said.

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North America’s largest lithium supply to be developed with DOE help

Teslarati

Department of Energy has announced that it will loan $700 million to mining company Ioneer to develop lithium reserves found in Nevada. battery belt” continues to develop , the demand for raw lithium to produce batteries has rapidly increased. As the U.S.

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GM, POSCO Future M announce 2nd phase of CAM production in N America; adding pCAM

Green Car Congress

pCAM is a specifically engineered combination of processed raw materials necessary to produce CAM, a key battery material representing about 40% of the cost of a battery cell. 2019 - GM formed the Ultium Cells LLC joint venture with LGES for US battery cell production. Cell Manufacturing and R&D Dec. EV Components Sept.

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Tesla’s years of battery tech investments are becoming a buffer against nickel’s rising costs

Teslarati

For years, Tesla has invested heavily in its supply chain and battery strategy. So focused was the company in these endeavors that it even decided to design and produce its own batteries, the 4680 cells. The next-generation cells are a crucial component of Tesla’s long-term plan to make electric vehicles more affordable.

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Tesla and the EV sector’s growth is driving up lithium, cobalt, and nickel prices

Teslarati

The momentum of EVs as a whole may hit some challenges soon, however, partly due to the rising prices of raw materials that are critical to the production of batteries. The prices of lithium-ion batteries have seen a 90% decline to just about $130 per kWh. Increasing EV Demand. million units globally from the previous year.

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Feature: Are Eco-Friendly Cars Expensive to Own?

Clean Fleet Report

Despite higher upfront costs, eco-friendly vehicles are better for not only the planet, but also your wallet. A study conducted by a team at the Massachusetts Institute of Technology (MIT) compared the lifetime costs of owning a gas-powered vehicle versus that of owning an eco-friendly vehicle. Hybrids and EVs can cost you less.

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LIVE BLOG: Tesla Q1 2024 earnings call

Teslarati

Musk clarified that Tesla is now seeing a lot of competitive prices from its battery suppliers due to excess capacity. This was due to battery orders from other automakers declining dramatically. “There’s gonna be a boom and bust in battery supply,” Musk noted. A question was asked about the Cybertruck ramp.

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