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Top related persons:
Mujeeb Ijaz - 4 Paul Lienert - 3 Rebecca Cook - 2 Carlos Barria - 2 Tesla - 2 ” - 2 Stanley Whittingham - 2 “ We’ve - 2
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U.S Michigan Van Buren Detroit Novi , Michigan Fremont , California North America New York
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REUTERS - 4 Thomson - 4 Energy - 2 Tesla - 2 DETROIT - 2 EV - 2 Toyota - 2 Hyundai - 2

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5 mentions found


☆ EV battery startup ONE cuts workforce by 25%
  + stars: | 2023-11-27 | by ( ) www.reuters.com   time to read: +1 min
The logo for Our Next Energy (ONE) is seen outside the company's headquarters in Novi, Michigan, U.S., April 25, 2022. Photo taken April 25, 2022. REUTERS/ Rebecca Cook/File Photo Acquire Licensing RightsNov 27 (Reuters) - Our Next Energy (ONE) said on Monday it has cut around 25% of its workforce, or 128 employees, as the electric-vehicle battery startup deals with high borrowing costs and an uncertain economy. Tesla (TSLA.O) supplier Panasonic Holdings (6752.T) said last month that it had cut automotive battery production in Japan in the September quarter, underscoring a global slowdown in EV sales due to high interest rates. Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Rebecca Cook, Mujeeb Ijaz, Zaheer Kachwala, Maju Samuel Organizations: Next Energy, REUTERS, Energy, Apple, Panasonic Holdings, Thomson Locations: Novi , Michigan, U.S, Michigan, American, Japan, Bengaluru
☆ ONE boosts range of Aries EV battery, aims for 600 miles with Gemini
  + stars: | 2023-08-15 | by ( Paul Lienert | ) www.reuters.com   time to read: +2 min
Our Next Energy (ONE) CEO Mujeeb Ijaz stands next to Aries lithium iron phosphate battery packs waiting to undergo testing at ONE's headquarters in Novi, Michigan, U.S., April 25, 2022. ONE’s Aries II cells use cathodes made of lithium iron phosphate. The Aries II packs are slated to go into pilot production late next year at ONE’s new factory in Van Buren Township in southeastern Michigan. Gemini marries LFP cells similar to those used in the Aries pack with higher-energy cells that act as a range extender as charge is depleted. Today’s battery packs can cost from $12,000 to $20,000, depending on battery size, weight, chemistry and output.
Persons: Mujeeb Ijaz, Rebecca Cook, Aries, Ijaz, Gemini, Paul Lienert, Jonathan Oatis Organizations: Energy, REUTERS, Aries, Gemini, Thomson Locations: Novi , Michigan, U.S, Michigan, Van Buren, Detroit
☆ RPT ANALYSIS For EV batteries, lithium iron phosphate narrows the gap with nickel, cobalt
  + stars: | 2023-06-23 | by ( Paul Lienert | ) www.reuters.com   time to read: +5 min
[1/2] Tesla Model 3 vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. REUTERS/Carlos Barria/File PhotoDETROIT, June 23 (Reuters) - As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery material of choice. But technological advances have also reduced the performance gap with more widely used materials such as nickel and cobalt. Ford Motor (F.N) aims to open a $3.5 billion LFP cell manufacturing plant in western Michigan, leveraging technology licensed from China’s CATL (300750.SZ), the world’s largest EV battery maker. The rapidly increasing adoption of LFP by EV manufacturers including Tesla and Hyundai suggests those companies “are not ready to decouple from China," Meng said.
Persons: Carlos Barria, Tesla, ”, Stanley Whittingham, Mujeeb Ijaz, “ We’ve, China’s, Jim Farley, Shirley Meng, Meng, Lukasz Bednarski, Bednarski, LFP, Whittingham, “, Paul Lienert, Matthew Lewis Organizations: Tesla, REUTERS, DETROIT, EV, Toyota, Hyundai, U.S, Binghamton University, Ford, University of Chicago, Argonne, Laboratory’s, Center for Energy Storage Science, New Energy, Thomson Locations: Fremont , California, U.S, North America, New York, Michigan, Van Buren, China, United States, Norway, Israel, South Korea, EVs, Detroit
☆ Analysis: For EV batteries, lithium iron phosphate narrows the gap with nickel, cobalt
  + stars: | 2023-06-22 | by ( Paul Lienert | ) www.reuters.com   time to read: +5 min
[1/2] Tesla Model 3 vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. REUTERS/Carlos Barria/File PhotoDETROIT, June 22 (Reuters) - As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery material of choice. But technological advances have also reduced the performance gap with more widely used materials such as nickel and cobalt. Ford Motor (F.N) aims to open a $3.5 billion LFP cell manufacturing plant in western Michigan, leveraging technology licensed from China’s CATL (300750.SZ), the world’s largest EV battery maker. The rapidly increasing adoption of LFP by EV manufacturers including Tesla and Hyundai suggests those companies “are not ready to decouple from China," Meng said.
Persons: Carlos Barria, Tesla, ”, Stanley Whittingham, Mujeeb Ijaz, “ We’ve, China’s, Jim Farley, Shirley Meng, Meng, Lukasz Bednarski, Bednarski, LFP, Whittingham, “, Paul Lienert, Matthew Lewis Organizations: Tesla, REUTERS, DETROIT, EV, Toyota, Hyundai, U.S, Binghamton University, Ford, University of Chicago, Argonne, Laboratory’s, Center for Energy Storage Science, New Energy, General Motors, Battery, Thomson Locations: Fremont , California, U.S, North America, New York, Michigan, Van Buren, China, United States, Norway, Israel, South Korea, EVs, Detroit
☆ EV battery maker ONE raises $300 million, now valued at $1.2 billion
  + stars: | 2023-02-01 | by ( Paul Lienert | ) www.reuters.com   time to read: +2 min
[1/2] Workers are seen at the production line of lithium-ion batteries for electric vehicles (EV) at a factory in Huzhou, Zhejiang province, China August 28, 2018. REUTERS/StringerFeb 1 (Reuters) - Michigan-based battery startup Our Next Energy (ONE) on Wednesday said it closed a $300 million Series B funding round that takes the three-year-old company’s valuation to $1.2 billion. The latest round, led by investors Franklin Templeton and Fifth Wall, makes Our Next Energy one of the most valuable privately held battery companies in the United States. Investors in the latest round include Temasek, Coatue, Riverstone Holdings, AI Capital Partners and Sente Ventures. The Series B round included an earlier $62.5 million convertible note closed with BMW iVentures, Assembly Ventures, Breakthrough Energy Ventures, Volta Energy Technologies, Flex and Coatue.
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