News

Electric Vehicle Batteries

Kimberly Redmond | Equities.com |

General Motors Company (NYSE: GM) plans to start replacing all of the lithium-ion battery modules in thousands of recalled Chevrolet Bolt EVs to reduce the risk of the vehicles catching fire.On Tuesday, GM said it began sending out recall letters to the owners of the 68,000 affected vehicles worldwide and will start repairs later this month, according to the Detroit Free Press.


Kimberly Redmond | Equities.com |

One of South Korea’s biggest battery makers, Samsung SDI, is reportedly looking to expand its battery cell manufacturing capabilities in the US to help meet growing demand for electric vehicles.

A confidential source told Reuters that the battery maker, a unit of Samsung Electronics, is considering a US factory as either a joint venture or as an independent manufacturing site.


Kimberly Redmond | Equities.com |

Renault Groupe (OTC: RNLSY) announced two partnerships on Monday aimed at boosting the production of electric car batteries in France.

In a press release, the French carmaker said the new partnerships with China’s Envision AESC and French start-up Verkor will enable it to create an EV hub capable of churning out 400,000 cars annually.


Kimberly Redmond | Equities.com |

Volvo Car Group is forming a joint venture with Swedish battery manufacturer Northvolt to build a new gigafactory in Europe and develop sustainable batteries for the premium automaker and its electric-only sister brand Polestar.

Under the partnership announced Monday, the companies will build a plant with capacity of up to 50 gigawatt hours per year — enough to power about 500,000 cars — that will start production in 2026.


Kimberly Redmond | Equities.com |

Porsche AG will develop and produce high-performance battery cells for electric sports cars under a new joint venture with German lithium-ion specialist Custom Cells GmbH.

Under the partnership announced Sunday, the luxury automaker and startup company will produce car batteries with higher energy density than prototypes used in Porsche’s current electric cars.


Kimberly Redmond | Equities.com |

General Motors Company (NYSE: GM) plans to boost global spending on electric and autonomous vehicles to $35 billion through 2025, a 75% increase from the spending previously announced by the automaker.

In November 2020, GM upped its spending plans from $20 billion — a figure that was announced in March before the onset of the COVID-19 pandemic — to $27 billion.


Reuters | Equities.com |

General Motors Co is testing a variety of battery chemistries, technologies and manufacturing processes aimed at slashing the cost of future electric vehicle batteries and reducing its dependence on such price-sensitive metals as cobalt, President Mark Reuss said on Wednesday.

Reuss, speaking at an investor conference, said GM is experimenting with silicon-rich and lithium metal anodes, solid state and high voltage electrolytes, and dry processing of electrodes for its next generation of Ultium batteries, due around 2025.


Reuters | Equities.com |

Tesla Inc Chief Executive Officer Elon Musk tweeted on Tuesday that a cell supply shortage is making it difficult to scale up production of its long-delayed Tesla Semi commercial truck.

"Demand is no problem, but near-term cell supply makes it hard to scale Semi. This limitation will be less onerous next year," the billionaire entrepreneur said here.