US based battery company Solid Power announced that it has received $130 million in new funding from investors including Ford and BMW. With this backing, the company plans to begin pilot scale production of solid-state lithium-ion batteries suitable for electric vehicles early next year.
Companies from a dozen EU member states will commit the public funds in a bid to come up with novel battery chemistries and production methods as well as recycling and circular economy innovation.
Around 4.2 MWh of energy storage capacity will be connected to a solar and diesel micro-grid on Rarotonga, the largest of the islands in the South Pacific nation. Three 40-foot containers with a total power output of 4.8 MVA will be used as a power reserve and for grid support by utility Te Aponga Uira.
In a little over ten years, Northvolt aims to pour 150 GWh of batteries onto the European market, annually. The company is also working to source end-of-life batteries for half its raw materials.
With its app already present in Belgium and the Netherlands, start-up Jedlix is introducing smart charging in France. The solution enables Tesla drivers to optimize their charging strategy.
Previously, a mere €240 million was set to flow into the giga-factory. The corporation’s management reasoned new demand for its battery cells made more investment necessary.
A report on the prospects for a mooted $2.6tn electric vehicle market over the next decade says PHEVs – part electric, part gas-guzzling – are already losing market share rapidly to pure electric rivals, and will be extinct by 2030.
A number of significant manufacturing and investment plans in China, Germany and North America by major automobile makers VW, Tesla and BYD are backing up predictions that electric vehicle car sales are set to skyrocket in the coming decades.
Circular Energy Storage, a London-based research and consulting group, reports a strong business case for reconstituted electric vehicle batteries for energy storage applications. As the EV and static storage system markets grow rapidly, synergies could be a useful tool for continued cost optimization.
In the wake of the U.S.-China trade dispute, the Chinese government has loosened its policy on ownership caps for factory sites for foreign car brands. Previously, car companies could only retain 50% of the ownership of a factory and had to set up a joint venture with a Chinese partner. By setting up shop in China, Tesla can avoid import duties on its cars, to cater to a broader customer base.
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