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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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LG Chem investing $75M in Piedmont Lithium; 200,000mt spodumene concentrate offtake agreement

Green Car Congress

LG Chem will purchase 1,096,535 newly-issued shares of Piedmont common stock at an approximate price of $68.40 Piedmont has also agreed to provide LG Chem priority negotiation rights for 10,000 metric tons per year of lithium hydroxide produced by the Company at either of its proposed facilities in Tennessee or North Carolina.

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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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Knoxville contracts for 12 New Flyer electric buses with option for 14 more

Green Car Congress

New Flyer of America announced that Knoxville Area Transit (KAT) has awarded New Flyer a contract for twelve zero-emission, battery-electric thirty five-foot heavy-duty transit buses, with options to purchase up to 13 additional zero-emission buses in thirty-five or forty-foot lengths throughout the remaining term of the five-year agreement.

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