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☆ Not even Tesla can dodge the EV sales slowdown
▼ + stars: | 2024-01-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

While EV sales are continuing to grow, they are doing so at a slower pace, research shows. Elon Musk warned a slowdown in sales growth was coming when Tesla reported earnings on Wednesday. The Warren Buffett-backed EV maker, which sells its vehicles in more than 60 countries and recently overtook Tesla on global EV sales, put an early focus on affordable models such as the $10,000 Seagull. EV sales surged 40% year-on-year in the last three months of 2023 —a "strong result by any measure," as the industry research noted. Aran Waid, senior analyst at Benchmark Mineral Intelligence, said growth in EV sales globally was continuing but that it had "fallen short of automaker expectations."

Persons: Tesla, —, Elon Musk, Musk, China's BYD, Warren Buffett, BYD, Kelley, Aran Waid, Josh Lefkowitz, Mary Barra, Nora Naughton, Suzuki Organizations: EV, Service, Tesla, Getty Images, Benchmark Mineral Intelligence, Ford, General Motors, Hertz, BMW, Toyota, Honda, Nissan Locations: Europe, Japan

☆ One country dominated clean energy growth this year, and it isn't the US, UK, or Germany. It's China, by a landslide.
▼ + stars: | 2023-12-27 | by ( Associated Press | ) www.businessinsider.com time to read: +11 min

In the United States, California continues to have the most solar energy, followed by Texas, Florida, North Carolina, and Arizona. China was one of the few growing markets this year for wind, the Global Wind Energy Council said. Faster permitting and other improvements in key markets such as Germany and India also helped add more wind energy. The top three markets this year are still China, the United States, and Germany for wind energy produced on land, and China, the United Kingdom, and Germany for offshore. The analysts are predicting that the global industry will rebound next year and make nearly 12% more wind energy available worldwide.

Persons: Mohammed bin Rashid Al Maktoum, Joshua A, Bickel, it's, Michael Taylor, IRENA, Karim Shahi, Rafiq Maqbool, Daniel Bresette, Bresette, Abigail Ross Hopper, Wood, Wood Mackenzie, Julia Nikhinson Construction, John Hensley, Seth Wenig, Hau Dinh, Evan Hartley, Paul Braun, John Eichberger, Daan Walter Organizations: Service, International Energy Agency, Business, IEA, United Arab Emirates, Climate, AP, International Renewable Energy Agency, Arizona . Workers, Energy Limited's, Energy, Environmental, Energy Study Institute, Solar Energy Industries Association, Global Energy Monitor, Wind Energy, Clean Power, Workers, Atlas Public, Benchmark Mineral Intelligence, Benchmark, University of Illinois, Panasonic, Toyota, Health, General Motors Co, LG Energy, Transportation Energy Institute, Rocky Mountain Institute Locations: Germany, Spain, Mohammed, Dubai, United, Bickel China, Europe, United States , California, Texas , Florida, North Carolina, Arizona, Karim, Khavda, Bhuj, India, Pakistan, Gujarat, China, Wood Mackenzie, Montauk Point , New York, Asia, United States, State, New London, Conn, United Kingdom, Hai Phong, Vietnam, Kansas, Ohio

☆ Why the U.S. has a serious mining worker shortage
▼ + stars: | 2023-12-08 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

More than half the nation's mining workforce, about 221,000 workers, is expected to retire by 2029, according to the Society for Mining, Metallurgy & Exploration, and the number of candidates willing to fill those slots is shrinking. "Our workforce is aging," said Bold Baatar, chief executive of copper at Rio Tinto. At the same time, demand for rare earth minerals such as lithium, cobalt and copper, critical components used to make batteries for electric vehicles and smartphones, is on the rise. Globally, at least 384 new mines will need to be built to meet demand for electric vehicles by 2035, according to Benchmark Mineral Intelligence. To better understand the role miners play in the transition to green energy, CNBC got a behind-the-scenes look at Rio Tinto's copper mining operation in Utah.

Persons: Baatar Organizations: Society for Mining, Exploration, Rio Tinto, Benchmark Mineral Intelligence, CNBC Locations: Rio, Utah

☆ The promise and risks of deep-sea mining
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +13 min

The promise and risks of deep-sea mining A vast treasure of critical minerals lies on the ocean floor. All of these factors make deep-sea mining more appealing, supporters say. Environmentalists, however, say it’s a false dichotomy, as land mining will continue whether or not deep-sea mining is allowed. Any country can allow deep-sea mining in its territorial waters, and Norway, Japan and the Cook Islands are close to allowing it. For now, the ISA's members are hotly debating the best standards for deep-sea mining.

Persons: Gerard Barron, Margo Deiye, “ We’re, ”, Barron, “, Beth Orcutt, Jason Gillham, Joe Carr, Pradeep Singh, Kira Mizell, Julia Wolfe, Katy Daigle, Claudia Parsons Organizations: International Energy Agency, P Global, Authority, United Nations, ISA, Metals Co, Russia's JSC, Blue Minerals, Exploration, Metals, Clarion, Companies, U.S . Geological Survey, Benchmark Mineral Intelligence, The Metals Co, Northwest, Maine's Bigelow Laboratory, Ocean Sciences, Impossible Metals, NOAA, Research, Aquarium Research, Bigelow Laboratory, Research Institute, Sustainability, . Geological Survey Locations: Brazil, Norway, Japan, Cook, Vancouver, Blue, Blue Minerals Jamaica, China, Hawaii, Mexico, Nauru, U.S, Russia, France, India, Poland, Tokyo, Monterey

China's decision may escalate trade disputes globally and spur other countries to prioritize research into alternative sources and materials, industry executives said. "We see China's move as a potential catalyst to highlight the urgency of improving (U.S.) graphite supply," said John DeMaio, president of Graphex Group's (6128.HK) graphene division. It has graphite supply deals with Syrah Resources (SYR.AX) and is looking for other sources, DeMaio said. Synthetic graphite could account for nearly two-thirds of the EV battery anode market by 2025, Benchmark Mineral Intelligence estimates. Chief Operating Officer Hans Erik Vatne told Reuters recently that developing synthetic graphite production is costly, but that is the price to pay to reduce reliance on China.

Persons: Fabian Bimmer, John DeMaio, Graphex Group's, DeMaio, Tesla, Hans Erik Vatne, Rob Anstey, Alvin Liu, Akash Sriram, Ernest SCheyder, Nick Carey, Christina Amann, Marie Mannes, Gilles Guillaume, Ilona Wissenbach, Ben Klayman, Josie Kao Organizations: Volkswagen, REUTERS, Syrah Resources, Magnis Energy Technologies, Mineral Intelligence, Reuters, EVs, BMO Capital Markets, BMW, Volvo, Renault, General Motors, Ford, Thomson Locations: Salzgitter, Germany, China, Warren , Michigan, West, U.S, Europe, Oslo, Norway, Bengaluru, Houston, London, Berlin, Stockholm, Paris, Frankfurt

☆ China curbs graphite exports in latest critical minerals squeeze
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

Here are key details on graphite and China's limits on exports of strategic minerals. That's about double the amount of lithium in an EV battery. China also refines more than 90% of the world's graphite into material used in virtually all EV battery anodes. Top buyers of graphite from China include Japan, the U.S., India and South Korea, according to Chinese customs data. OTHER CHINESE MINERAL EXPORT CURBSIn July, China announced export restrictions on eight gallium and six germanium products starting on Aug. 1.

Persons: Tony Munroe, Amy Lv, Christian Schmollinger Organizations: REUTERS, Rights, . Geological Survey, EV, Mercedes, Benchmark Mineral Intelligence, Thomson Locations: Qingdao, Shandong province, China, Rights SINGAPORE, Mozambique, Madagascar, Brazil, Japan, U.S, India, South Korea

Graphite is used in virtually all EV battery anodes, which is the negatively charged portion of a battery. Their announcement boosted China's exports in July as overseas buyers rushed to lock in supply, while the launch of the restrictions slashed exports in August-September. It also makes more than 90% of the final processed material for EV battery anodes. "We have been waiting for (China's) graphite exports to slow," said John Meyer at SP Angel. "Having overproduced synthetic graphite we reckon China is also keen to keep this material within China to meet rapid growth in EV battery demand."

Persons: Phil Noble, Tom Burkett, James Willoughby, Wood Mackenzie, Daisy Jennings, Gray, Willoughby, John Meyer, Polina Devitt, Amy Lv, Eric Onstad, Veronica Brown, Josie Kao Organizations: REUTERS, EV, Global Graphite Advisory, Companies, Benchmark Mineral Intelligence, SP, Thomson Locations: Manchester, Britain, BEIJING, China, Canada, Africa, Australia, Brazil, U.S, Wood, Japan, United States, South Korea, India

☆ Prices tumble for cobalt used for electric vehicle batteries
▼ + stars: | 2023-09-25 | by ( Pratima Desai | ) www.reuters.com time to read: +2 min

REUTERS/Vincent West Acquire Licensing RightsLONDON, Sept 25 (Reuters) - Prices of the cobalt hydroxide used to make chemicals for electric vehicle batteries have plummeted due to an upsurge of supplies from top producer Democratic Republic of Congo. Cobalt hydroxide is produced in Congo, where it is a byproduct of copper. According to Benchmark Mineral Intelligence (BMI), payables in August dropped to 46% of the cobalt metal price compared with around 90% in late 2021 and early 2022 when cobalt metal traded around $60,000 a metric ton. "These developments pose long-term challenges to cobalt demand," analysts at Morgan Stanley said in a note. "We see cobalt prices remaining under pressure as supply growth and CMOC destocking come through."

Persons: Vincent West, Roman Aubry, Tenke, Morgan Stanley, destocking, Pratima Desai, Bernadette Baum Organizations: REUTERS, Democratic, Benchmark Mineral Intelligence, BMI, China's CMOC, Thomson Locations: Bilbao, Spain, Democratic Republic of Congo, Congo, payables, Indonesia, DRC

☆ Deep-sea mining could help solve the global critical minerals shortage, but it's a lightning rod for controversy
▼ + stars: | 2023-09-20 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

But extracting these metals via deep-sea mining has become a lightning rod for global controversy, as many fear the potential ecological disruptions it could cause in a part of our planet that remains largely unexplored. The Metals Company has announced that it's planning to submit its application next summer and begin exploitation in 2025, leaving many concerned about the potential implications. "What I am absolutely convinced of is that we can slow down or maybe even stop the growth in rainforest nickel," Barron said. Deep-sea mining avoids the emissions associated with blasting, as well as sulfidic tailings, a waste material that can contaminate groundwater. Great unknownsA few years ago, the World Wildlife Fund released a business statement calling for a moratorium on deep-sea mining.

Persons: Jessica Battle, Gerard Barron, we're, Barron, Andrew Miller Organizations: Clarion, United Nations, International, Authority, ISA, Metals Company, Mining, The Metals Company, Benchmark Mineral Intelligence, Metals, World Wildlife, Google, Samsung, BMW, Volkswagen, Volvo, Renault, WWF, CCZ, National Oceanic, Atmospheric Administration Locations: Indonesia, Congolese, U.S, Texas

☆ China is bitter medicine for Europe’s EV pivot
▼ + stars: | 2023-09-12 | by ( Neil Unmack | ) www.reuters.com time to read: +7 min

LONDON, Sept 12 (Reuters Breakingviews) - China can offer a bitter medicine for Europe’s bold electric vehicle pivot. That has prompted carmakers to develop premium e-cars for richer punters, rather than mass market vehicles. More competition from Chinese carmakers should help bring down prices of electric vehicles in Europe. It will force Western players to keep cutting costs to avoid losing too much market share, boosting overall e-car adoption. Sales of EVs picked up in August, with Jefferies analysts estimating a total market share across Europe of 23%.

Persons: Oliver Zipse, Olaf Scholz, carmakers, Morgan Stanley, Encouragingly, BYD, ”, EVs, Lisa Jucca, Oliver Taslic, Thomas Shum Organizations: Reuters, Volkswagen, European Automobile Manufacturers ’ Association, HK, Norway, BMW, Reuters Graphics, Jato Dynamics, Benchmark Mineral Intelligence, BYD, Renault, UBS reckons, Financial, Electric, European Union, Jefferies, Thomson Locations: China, Europe, Italy, Europe’s, Germany, Norway, Latvia, Bulgaria, Britain, Polo . China, Western, EU

The focus is shifting to a new front: Synthetic graphite, an element developed in the late 19th century, but only redirected toward EVs in the past decade. Synthetic graphite could account for nearly two-thirds of the EV battery anode market by 2025, estimates Benchmark Mineral Intelligence. "It’s easier to set up a synthetic graphite production facility than it is to commission new mining sites for natural graphite” because producers can take advantage of incentives in last year's U.S. Inflation Reduction Act to build synthetic graphite capacity in the U.S. or Free Trade Agreement partners, she said. Other experts note synthetic graphite is generally higher purity and offers better and more predictable performance than natural graphite. Still, the construction of new production facilities for synthetic graphite, even with federal incentives, requires a staggering investment, said Novonix's Burns.

Persons: Simon Dawson, ”, Victoria Hugill, It's, Chris Burns, Norway's, Vianode, Hans Erik Vatne, Vatne, Bob Galyen, China’s CATL, Novonix's Burns, “, Fastmarkets, Burns, Paul Lienert, Nick Carey, Timothy Gardner Organizations: REUTERS, Mineral Intelligence, EV, U.S, Trade, Infrastructure Investment, Jobs Act, Norsk Hydro, Hydro, Galyen Energy, Thomson Locations: London, Britain, United States, Europe, China, U.S, Bainbridge , Georgia, Chattanooga , Tennessee, North America, Detroit

☆ The Metals Company announces a controversial timeline for deep sea mining that worsens the divide in an already bitter battle
▼ + stars: | 2023-08-04 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

It then went public in 2021 through a special purpose acquisition company, or SPAC, and is looking to establish deep sea mining as a business. "Voices against deep sea mining have never been so loud — from the fishing sector to financiers, indigenous peoples, scientists and big business." In addition, the findings of the study do not mean that Benchmark is endorsing deep sea mining, she added. Deep sea mining won't replace land-based mining, but rather will simply add another source of minerals, she said in March. Regardless, Singh says, there is a lot of work yet to be done by members of the council to establish regulations before any deep sea mining commences.

Persons: Gerard Barron, Carolyn Cole, it's, Amon, That's, Louisa Casson, Charlotte Selvey Miller, Miller, that's, Barron, Kannah, Pradeep Singh, It's, Singh, Allseas, — Organizations: The Metals Company, Los Angeles Times, Authority, ISA, Metals Company, Maersk, CNBC, Greenpeace, Company, Benchmark Mineral Intelligence, Benchmark, Democratic, PT Vale Indonesia, . Geological Survey, Metals, Mining, Darton Commodities, Afp, Getty, International Union for Conservation of Nature Locations: Clarion, San Diego, Norway, Mexico, United Kingdom, Texas, Canada, Indonesia, Russia, Democratic Republic of the Congo, Sorowako ., Amon, Kolwezi, Shabara, Congo, Pacific, Nauru, Tonga, Kiribati

REUTERS/Steve Marcus/File photoAug 2 (Reuters) - Refining rare earths for the green energy transition is hard. "The (rare earths) commissioning process is painstaking, with stops and starts," Jim Litinsky, MP's CEO and largest shareholder, told investors in May. Rare earths magnets turn power into motion and are the essential components in an electric vehicle's motor. Rare earths refining "is not really being addressed even by those who are developing magnet capacity," said Ryan Castilloux, a minerals consultant at Adamas Intelligence. American Rare Earths is working with U.S. government scientists at the Lawrence Livermore Laboratory to develop bacteria that could process rare earths.

Persons: Steve Marcus, Lockheed Martin's, Lynas, Jim Litinsky, Kray Luxbacker, they've, Allan Walton, Ryan Castilloux, Castilloux, refines, Dysprosium, Tesla, Melissa Sanderson, Nathan Picarsic, Ernest Scheyder, Eric Onstad, Nick Carey, Melanie Burton, Veronica Brown, Susan Heavey Organizations: REUTERS, Lockheed, International Energy Agency, General Motors, University of, University of Birmingham, Adamas Intelligence, Trump, Reuters, Pentagon, Blue, Benchmark Mineral Intelligence, Edge, Sweden's, U.S, Lawrence Livermore Laboratory, Horizon Advisory, Thomson Locations: Pass , California, U.S, China, Apple's, Beijing, Texas, Western Australia, COVID, California, Myanmar, Vietnam, Malaysia, Australia, Kuala Lumpur, United States, San Antonio , Texas, Sweden, South Africa, Karr

☆ Analysis: Tesla taps Biden tax credits to offset EV price cuts
▼ + stars: | 2023-07-21 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +4 min

Including the $7,500 Biden tax credit, the price is down 35%. "Tesla's manufacturing tax credits should help to at least partially offset some of the price cuts Tesla had to implement to spur demand," Morningstar analyst Seth Goldstein said in an interview. Reuters GraphicsDespite benefiting from the tax credits, Musk has criticized U.S. President Joe Biden and many of his policies and called for subsidies to be eliminated. Many analysts exclude the regulatory credits Tesla collects from other automakers, but include the Biden manufacturing credits, when calculating its underlying profit margin. Tesla's quarterly automotive gross margin, excluding the regulatory credits, fell to 18.1% in the second quarter from 26% a year earlier.

Persons: Elon Musk, Musk, Tesla, Morningstar, Seth Goldstein, Joe Biden, Zach Kirkhorn, Biden, Hyunjoo Jin, Kevin Krolicki, Richard Chang Organizations: Cox Automotive, Panasonic, Benchmark, General Motors, LG Energy, Reuters, U.S, Thomson Locations: SEOUL, United States, China, U.S, Nevada, Texas

☆ China's chipmaking export curbs 'just a start', Beijing adviser warns before Yellen visit
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +6 min

Shares in some Chinese metals companies rallied for a second session as investors bet that higher prices for gallium and germanium, which Beijing's export restrictions target, could boost revenues. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. Asked about the metals export curbs, Chinese foreign ministry spokesman Wang Wenbin said on Wednesday the government's actions were reasonable and lawful. WARNING SHOTSome larger chip manufacturers view China's export controls on gallium as more of a warning shot about what economic pain the country could inflict. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Wei Jianguo, Wei, Yellen, Biden, China's, Wang Wenbin, Wang, Gecamines, Belgium's Umicore, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Tian, Nick Carey, Muralikumar Anantharaman, Jacqueline Wong, Catherine Evans Organizations: Treasury, Thursday Analysts, Washington, Commerce, China Daily, China Center for International Economic, Independence, Analysts, Micron, Global Times, Union, Benchmark Mineral Intelligence, AMS, Democratic, Shanghai Cooperation Organisation, Shanghai Metal Exchange, Beijing, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, U.S, Japan, Netherlands, United States, Swiss, Teck Resources, North, Democratic Republic of Congo, Russia, Washington, Yunnan, London

☆ Tesla's top China rival is exploring a faster method for lithium mining in Latin America — and offering free patents to build the industry
▼ + stars: | 2023-07-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Tesla rival BYD is exploring a new method of lithium mining in Chile, Bloomberg reported Tuesday. The Chinese firm aims to use a more direct way to extract lithium from Chilean salt flats. A BYD exec said the company plans to offer local patents and build up the industry in Chile. The goal would be for the company to establish in Chile the same direct lithium extraction, or DLE, method used in China, Li said. "BYD is ready to bring advanced DLE technology to Chile, and also we will develop R&D patents locally and offer free patents to the Chilean government to help Chile build up this industry," Li told Bloomberg.

Persons: —, BYD, Stella Li, Li, Elon Musk's Tesla, Tesla Organizations: Bloomberg, Service, Benchmark Mineral Intelligence, Elon, Wall Locations: Chile, China

☆ Analysis: Auto firms race to secure non-Chinese graphite for EVs as shortages loom
▼ + stars: | 2023-06-21 | by ( Eric Onstad | ) www.reuters.com time to read: +6 min

Auto firms have been slow to plan for graphite shortages, focusing mainly on better-known battery materials lithium and cobalt, even though graphite is the largest battery component by weight. Graphite shortages are expected to rise in coming years, with a global supply deficit of 777,000 tonnes expected by 2030, Project Blue projections showed. China produces 61% of global natural graphite and 98% of the final processed material to make battery anodes, BMI said. Agreeing graphite supply deals is complex, requiring extensive safety testing for material going into each model of EV that can take up to three years. Natural graphite anodes tend to be cheaper and are beneficial for cell capacity and power output, allowing cars to run further distances before charging.

Persons: Tomas Bergman, Handout, there's, Mark Thompson, Australia's, Northvolt, Thompson, Talga, Mercedes, Brent Nykoliation, Tesla, George Miller, Reitumetse, Eric Onstad, Veronica Brown, Sharon Singleton Organizations: Talga Group, Reuters, Mercedes, Auto, Australia's Talga, BMO Capital Markets, Benchmark Mineral Intelligence, BMI, Reuters Graphics, Toyota, Ford, Tesla Inc, Toyota Motor Corp, Ford Motor, Benz, Renault, NextSource, Syrah Resources, Magnis Energy Technologies, U.S, European Union, Thomson Locations: Norrbotten, Sweden, China, Madagascar, Mozambique, United States, Europe, U.S, Mauritius, CHINA, Western

☆ Analysis-In China's lithium hub, mining boom comes at a cost
▼ + stars: | 2023-06-15 | by ( Siyi Liu | Dominique Patton | ) www.reuters.com time to read: +7 min

FILE PHOTO: A vehicle is seen near a lithium smelter in Yichun, Jiangxi province, China March 30, 2023. It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China’s top lithium producers Ganfeng Lithium and Tianqi Lithium. Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. ‘NATURAL RESOURCES CHAOS’Further dimming the outlook for lepidolite, environmental damage is a growing concern. UBS analysts see China’s supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun’s target.

Persons: ”, Yang Yaohua, Yang, Wu Wei, Eric Norris, ” Norris, Yongxing, Yichun, Ma Jun, ” Ma, Vicky Zhao, Li Qi Organizations: REUTERS, Staff, Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, lepidolite, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence Locations: YICHUN, China, Yichun, Jiangxi province, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi

It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China's top lithium producers Ganfeng Lithium (002460.SZ), (002460.SZ) and Tianqi Lithium (002466.SZ). Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. 'NATURAL RESOURCES CHAOS'Further dimming the outlook for lepidolite, environmental damage is a growing concern. As it gets stricter now, lithium resources in Yichun will lose their competitiveness with the higher costs for environmental protection," Ma said. UBS analysts see China's supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun's target.

Persons: YICHUN, Yang Yaohua, Yang, Wu Wei, Eric Norris, Norris, Yongxing, Yichun, Ma Jun, Ma, Vicky Zhao, Li Qi, Siyi Liu, Dominique Patton, Ernest Scheyder, Tony Munroe, Sonali Paul Organizations: Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, Corp, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence, Beijing Newsroom, Thomson Locations: China, Yichun, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi, Houston

A Model 3 starts at $40,240 and the price may fall to $25,240 when the $7,500 federal tax credit and another $7,500 from the California tax rebate kick in, depending on income and other requirements. SUPPLY CHAIN TWEAKSAnalysts said Tesla may have tweaked its battery supply chain to meet both battery mineral and battery component requirements for federal subsidy. Tesla used CATL's LFP battery cells for its Model 3 Rear Wheel Drive and nickel-based cells from an unidentified supplier for its Model 3 Long Range, analysts said. CATL and other suppliers like LG Energy Solution (373220.KS) do not have factories to make Tesla cells in the United States. Tesla has also started delivering China-made Model 3s and Model Ys to Canada, freeing up some capacity for U.S.-made models.

Persons: Tesla, Biden, Caspar Rawles, CATL, Morgan Stanley, Adam Jonas, Hyunjoo Jin, David Shepardson, Zoey Zhang, Mark Porter Organizations: FRANCISCO, Toyota, Panasonic, U.S, Mineral Intelligence, BMI, LG Energy, Panasonic Holdings, Tesla, Thomson Locations: WASHINGTON, California, Nevada, KS, United States, North America, U.S, China, Canada, Shanghai

☆ Tesla is set to reap billions from Biden's economic package before Ford gets a single cent
▼ + stars: | 2023-06-03 | by ( Graham Rapier | ) www.businessinsider.com time to read: +2 min

Tesla and other automakers are set to cash in on economic incentives signed into law in 2022. Tesla, with several factories already operating stateside, is on track to get the most tax breaks, one estimate found. Tesla's years of scaling up its manufacturing presence in the United States are set to pay dividends as incentives from President Joe Biden's package of economic laws go into effect. Tesla, with several automotive and battery factories already in use stateside, had a massive headstart on many other automakers. A $3,750 tax benefit for a car manufactured in the United States, and another $3,750 if its batteries meet similar requirements.

Persons: Tesla, Joe Biden's Organizations: Benchmark Mineral Intelligence, Bloomberg, Tesla, Panasonic, Center Locations: United States, EVs

But rival European battery groups are still scarce, and global carmakers have more to gain than lose. Chinese battery suppliers like Contemporary Amperex Technology (CATL), SVOLT, Envision, and most recently EVE Energy (300014.SZ), are shaking up Europe’s e-mobility supply chains. At 4.5 billion euros, investments in projects to build new plants in Europe overtook spending on mergers and acquisitions. European battery makers will struggle to compete. Given the chance, Chinese battery makers can power up Europe’s own supply chains, and its auto companies too.

Persons: CATL, It’s, Bernstein, Emmanuel Macron, Tesla, Elon, Lisa Jucca, Thomas Shum Organizations: Reuters, Volkswagen, BMW, Volvo, Technology, EVE Energy, Shanghai Putailai, Energy Technology, Mineral Intelligence, Companies, Wall Street, LG, Samsung SDI, Union, Commission, EU, United, Mercedes, Benz, Elon Musk’s, Mercator Institute for China Studies, Thomson Locations: HONG KONG, China, People’s Republic, Europe, Shanghai, People’s, Sweden, United States, EU, Hungary, Spain

☆ Pro Take: Can Nickel, Cobalt and Other Battery Metals Be Sourced Sustainably?
▼ + stars: | 2023-05-11 | by ( Yusuf Khan | ) www.wsj.com time to read: +6 min

Lockheed Martin and Norway’s Storebrand also have recently sold their interests in deep-sea mining companies. Others including German luxury carmaker BMW have said that, given environmental concerns, they won’t use battery metals sourced from the deep sea. More than a dozen countries are concerned about the environmental impact of the practice and are calling for a moratorium on seabed mining. A nickel mining site on the island of Sulawesi, Indonesia. Proponents of deep-sea mining say the nascent practice is a less harmful way to extract nickel than how the mineral is currently sourced in Indonesia.

☆ As lithium miners gear up for Q1 earnings, investors focus on tumbling prices
▼ + stars: | 2023-05-02 | by ( Arshreet Singh | ) www.reuters.com time to read: +2 min

Strong demand for EVs and limited supply of the metal pushed lithium prices to record levels in November last year, soaring more than ten-fold from early 2021. But a slump in demand for electric vehicles in China, the world's biggest market, left a stockpile of the metal and drove prices down. Lithium prices have fallen by at least a third in the first quarter, according to an index tracked by Benchmark Mineral Intelligence, raising concerns miners will see a hit to their bottomline. Though falling spot prices have raised red flags for investors over the long-term outlook of lithium miners, analysts believe spot prices will rise again as we get closer to the end of the year. In the long run, supply will continue to fall short of demand, which will help the miners, he added.

2 producer Chile to nationalise its lithium sector may curb long-term supply growth, but it is not expected to have an immediate impact, analysts said. Battery-grade lithium carbonate prices in China rose 10.6% from a week earlier to 182,500 yuan ($26,380) a tonne, the first weekly increase since November 2022, data by Fastmarkets on Refinitiv Eikon showed. But prices tumbled 72% after China curbed EV subsidies in January, demand faltered and inventories rose. Global EV sales jumped 55% last year to 10 million and are expected to climb another 35% this year. Chinese state-backed research house Antaike expects lithium carbonate prices to average 220,000 yuan a tonne this year, down 54% from 2022, it said at a conference last week.

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