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LG Chem signs $19 billion battery deal with GM

Teslarati

LG Chem is signing a nearly $19 billion deal with General Motors that will see the battery company supply the automaker with battery materials over the course of ten years. The materials will be produced at the company’s Tennessee factory starting in 2026. The deal is worth 24.7 trillion won, which equates to $18.6

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Phillips 66 taking 16% stake in synthetic graphite supplier NOVONIX; building US-based battery supply chain

Green Car Congress

Phillips 66 has entered into an agreement to acquire a 16% stake in NOVONIX Limited, an Australia-based company that develops and supplies synthetic graphite materials for lithium-ion battery anodes. This strategic investment enables Phillips 66 to directly support the development of the US battery supply chain.

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GM and POSCO Chemical to build new N America factory to process cathode active material for Ultium batteries

Green Car Congress

General Motors and POSCO Chemical plan to form a joint venture through which the parties will construct a factory in North America to process critical battery materials for GM’s Ultium electric vehicle platform. —Doug Parks, GM executive vice president, Global Product Development, Purchasing and Supply Chain.

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Volkswagen ID.4 with SK ON battery components eligible for full $7,500 tax credit in 2024

Teslarati

4 units with SK On battery components qualify for the Inflation Reduction Act’s (IRA) full $7,500 federal tax credit for electric vehicles. 4 starts with an MSRP of $38,995 for the Standard variant, which has a 62 kWh battery and an EPA-estimated range of 209 miles. 4 with two battery and powertrain options. The 2023 ID.4

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Argonne study finds BEVs can have lowest scheduled maintenance costs, but highest cost of driving

Green Car Congress

Researchers at Argonne National Laboratory, with colleagues from Lawrence Berkeley, Oak Ridge, and National Renewable Energy labs, and the University of Tennessee, have published a comprehensive analysis of the total cost of ownership (TCO) for 12 sizes of vehicles ranging from compact sedans up to Class 8 tractors with sleeper cabs.

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GM says equipping the next-gen Chevy Bolt EV with LFP batteries will save billions – Charged EVs

Baua Electric

What’s more, it will be North America’s first Ultium-based model to use lithium iron phosphate (LFP) batteries , which GM will source from an unnamed supplier. GM’s current Ultium battery cells use a nickel-cobalt-manganese-aluminum (NCMA) chemistry. We’ve got an established brand,” said GM CFO Paul Jacobson, referring to the Bolt.

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Nissan to sell AESC automotive Li-ion battery business to GSR Capital

Green Car Congress

Nissan Motor has entered into a definitive sale and purchase agreement with GSR Capital (GSR), a private investment fund, for the sale of Nissan’s automotive electric battery operations and production facilities to GSR. The transaction is contingent on GSR concluding purchase of all NECED shares from NEC.

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