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Northvolt's stock market debut would come in an IPO market that has gradually recovered from a major slump in 2022, which was driven by stock market volatility and fears of an economic slowdown. Northvolt has so far raised billions in debt to fund its factory investments, including a $1.1 billion raise last year in convertible notes. Northvolt has used the money from convertible bonds to increase liquidity and ramp up production at its gigafactory in Skelleftea, Sweden. Northvolt has raised about $8 billion in debt and equity to date from a wide range of investors, including Baillie Gifford and Folksam Group. (This story has been corrected to say that Northvolt 'has used the money from convertible bonds', not 'has refinanced its convertible bonds', in paragraph 7)Reporting by Anirban Sen in New York and Supantha Mukherjee in Stockholm; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

[1/3] Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. The plan was unveiled in 2006 and the first model, the Roadster sports car, rolled out in 2008 at a price of $89,000. Musk had first estimated in 2015 that Tesla vehicles would be able to drive themselves by 2018. ENABLE CAR TO MAKE MONEYHe said consumers will be able to summon their self-driving Teslas from anywhere. Last year, Musk said Tesla expects to mass-produce a robotaxi with no steering wheel or pedal by 2024, after missing his targets for self-driving vehicles multiple times.

☆ Factbox: Tesla CEO Musk signals Part 3 of Master Plan is ready
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +3 min

[1/2] Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. PART I (2006) - THE SECRET TESLA MOTORS MASTER PLAN (JUST BETWEEN YOU AND ME):BUILD SPORTS CAR AND AFFORDABLE EVsBefore Tesla put out its first production car, Musk set expectations for three: a sports car, a cheaper four-door family car and an even more affordable third model. The plan was unveiled in 2006 and the first model, the Roadster sports car, rolled out in 2008 at a price of $89,000. Musk had first estimated in 2015 that Tesla vehicles would be able to drive themselves by 2018. But Tesla is yet to unveil a detailed plan for its ride-sharing and robotaxi services.

☆ Elon Musk plans to build hundreds of homes for workers in Texas on streets including Boring Boulevard
▼ + stars: | 2023-02-12 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

The Boring Company is working with a construction company to build housing near Austin, Texas. County documents show the subdivision has streets named Boring Boulevard, Cutterhead Crossing, Waterjet Way, and Porpoise Place. The land is owned by Gappes Bass LLC, a company affiliated with The Boring Company, according to online records. Adam Pashaian, a corporate controller for the Boring Company, is also registered as an agent for Gapped Bass. The Boring Company, Lennar, and Bastrop County didn't respond to requests for comment from Insider, made outside normal working hours.

☆ Tesla, after recent cuts, raises starting price of Model Y in China
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERSCompanies Tesla Inc FollowSHANGHAI/BEIJING, Feb 10 (Reuters) - Tesla Inc (TSLA.O) has increased the starting price of its Model Y crossovers by 0.8% to 261,900 yuan ($38,577.11) in China, after the company's aggressive price cuts at the beginning of the year ignited demand. Tesla raised the price for the rear-wheel drive version of Model Y by 2,000 yuan from 259,900 yuan previously, according to the price information listed on the company's Chinese website on Friday. The U.S. automaker planned to step up output at its Shanghai plant over the next two months to meet demand stoked by aggressive price cuts on its best-selling models, Reuters reported previously. Tesla kept the prices for other versions of Model Y and the Model 3 cars unchanged.

☆ A subsidy arms race is kicking off between Europe and America
▼ + stars: | 2023-02-10 | by ( Julia Horowitz | ) edition.cnn.com time to read: +10 min

This premium is expected to shrink as clean energy technologies become more advanced and infrastructure to produce them is scaled up. Most of the money the IRA has earmarked for clean energy initiatives comes in the form of tax credits. In the meantime, government officials are lobbying the United States to rethink parts of the IRA. “Europe and other allied countries have nothing to fear from the Inflation Reduction Act and quite a bit to gain,” said Brian Deese, Biden’s top economic adviser. The fight over green subsidies also comes as geopolitical tensions are pushing countries to focus on greater localization of production — not just for green energy, but also for sensitive technologies like computer chips.

☆ Morgan Stanley analyst Jonas says investors may have missed their window to buy Tesla shares
▼ + stars: | 2023-02-10 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Notable electric vehicle analyst Adam Jonas believes investors may have missed their chance to buy Tesla on the cheap after the stock doubled off its 52-week low, with most of the comeback coming this year. "While we reiterate the overweight rating on Tesla shares, we believe the window of opportunity on 'valuation' has closed," the Morgan Stanley analyst wrote in a note Thursday. TSLA YTD mountain Tesla so far in 2023 Jonas noted that the shares now trade for 38 times enterprise value/EBITDA. "Adding over $350bn of market cap this year closed the 'valuation case' window on Tesla even faster than it opened," Jonas wrote. Jonas is not alone on Wall Street in being cautious on Tesla after the big runup in the stock.

☆ Tesla raises starting price of Model Y in China after recent price cuts
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: +1 min

Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Tesla has increased the starting price of its Model Y crossovers by 0.8% to 261,900 yuan ($38,577.11) in China, after the company's aggressive price cuts at the beginning of the year ignited demand. Tesla raised the price for the rear-wheel drive version of Model Y by 2,000 yuan from 259,900 yuan previously, according to the price information listed on the company's Chinese website on Friday. The U.S. automaker planned to step up output at its Shanghai plant over the next two months to meet demand stoked by aggressive price cuts on its best-selling models, Reuters reported previously. Tesla kept the prices for other versions of Model Y and the Model 3 cars unchanged.

Redwood Materials expects to draw down the first loan tranche later this year, Chief Executive JB Straubel said in an interview. The IRA rules are designed to shift the U.S. battery supply chain away from China, which currently produces 70% of batteries for electric vehicles. EXPANSION PLANSRedwood Materials, founded in 2017 by ex-Tesla executive Straubel, is on a path to become one of the world’s largest recyclers and re-manufacturers of battery materials, including copper, lithium, cobalt and nickel. Redwood Materials said it will supply copper foil from Nevada to Panasonic (6752.T) for battery cells produced at the Nevada Gigafactory that Panasonic jointly operates with Tesla. Redwood Materials has supply agreements with a number of manufacturers, including Ford, Toyota Motor (7203.T) and Volkswagen Group (VOWG_p.DE).

☆ Elon Musk to unveil Tesla's 'Master Plan 3' at first investor day
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

[1/2] Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. REUTERS/Jonathan ErnstFeb 8 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk will reveal the third part of the electric vehicle (EV) maker's "Master Plan" when the company holds its first investor day on March 1. Musk's Master Plans lay out a path for Tesla to hit specific targets that he sets for the world's most valuable automaker. "Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1," Musk tweeted on Wednesday. In the second part of his Master Plan, Musk said he wanted to expand the EV product line to address all major segments and develop self-driving capability that is 10 times safer than human driving.

President Joko Widodo has pulled out all the stops to convince CEO Elon Musk to manufacture electric vehicles or batteries in the sprawling Southeast Asian archipelago. "The Indonesian government is building a whole value chain for servicing electric vehicle factories," said Victor Chin, principal consultant at metal consultancy firm CRU. Musk's goal is to sell 20 million electric vehicles in 2030, more than a 15-fold increase over the 1.3 million vehicles Tesla sold in 2022. Jokowi did not give a timeline for the exports growth but said Indonesia was aiming to establish an integrated supply chain for electric vehicle batteries by 2027. In other moves, Indonesia will also ban exports of copper ore and bauxite in June, both of which are used in electric vehicle production.

The automaker said in a filing it "has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD features." Reuters reported in October Tesla is under criminal investigation over claims that the company's electric vehicles could drive themselves. Acting National Highway Traffic Safety Administration (NHTSA) chief Ann Carlson said this month the agency is "working really fast" on the Tesla Autopilot investigation it opened in August 2021 that she termed "very extensive." In June, NHTSA upgraded to an engineering analysis its defect probe into 830,000 Tesla vehicles with Autopilot, a step that was necessary before the agency could demand a recall. The Wall Street Journal reported in October that the Securities and Exchange Commission is conducting a civil investigation into Tesla's Autopilot statements, citing sources.

☆ Tesla gets DOJ request on driver assist systems, raises capex forecast
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] Tesla's new electric semi truck is unveiled during a presentation in Hawthorne, California, U.S., November 16, 2017. Chief Executive Officer Elon Musk has championed the systems as innovations that will both improve road safety and position the company as a technology leader. Both the FSD and Autopilot systems use the steering wheel monitoring function - an alert that instructs drivers to hold the wheel to confirm they are paying attention. Meanwhile, in its filing on Tuesday, Tesla also forecast capital expenditure between $7 billion and $9 billion in 2024 and 2025. The midpoint of that expectation is $1 billion higher than the $6.00 billion to $8.00 billion range provided for this year.

☆ The 'land grab' for lithium is just getting started with GM deal, says EV materials expert
▼ + stars: | 2023-01-31 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

Automakers are starting to realize that the only way to guarantee lithium supplies is to own or have a controlling stake in the source. "It's the only way you're going to have the edge and guarantee you can make EVs over the next 20 years," Moores told CNBC. Nickel will also be important for automakers, in addition to lithium, Moores told CNBC. "Lithium and nickel are really what terrifies EV makers," Moores told CNBC. It is a land grab," Moores told CNBC.

☆ China's Shenghong Holdings to invest $4.5 bln in energy battery factory, research unit
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Jan 31 (Reuters) - China's Shenghong Holdings Group signed a contract on Tuesday to invest 30.6 billion yuan ($4.5 billion) in an energy storage battery gigafactory and a new energy battery research facility in the eastern city of Zhangjiagang. The Suzhou city government announced the pact on its official social media account, adding that the completed project was expected to generate 56 billion yuan in annual revenue. ($1=6.7536 Chinese yuan renminbi)Reporting by Beijing newsroom; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla plans $3.6 bln Nevada expansion to make Semi truck, battery cells
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

The cell plant would be able to make enough batteries for 2 million light-duty vehicles annually, including batteries using the 4680-type cell. The 4680 is key to Tesla meeting a goal of halving battery costs and ramping up battery production nearly 100-fold by 2030. Panasonic currently supplies cells to the gigafactory, and Tesla assembles them into battery packs there. Tesla has struggled to ramp up production of the 4680 at its factories in Fremont, California, and Austin, Texas. The EV maker aimed to produce 50,000 Semis in 2024, Musk said on a post-earnings call in October.

☆ UK car production is at its weakest since 1956. And the industry is losing the EV race
▼ + stars: | 2023-01-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —UK car manufacturing hit a 66-year low in 2022, as the closure of two plants, a global shortage of semiconductors and the effect of Covid lockdowns in China on auto supply chains crippled output. “The relationship between the UK and the EU, especially as you electrify, is still fundamental to the success of UK car manufacturing,” he said. UK factories made a record 234,066 electric vehicles in 2022, almost a third of all UK car production. Aston Martin and Jaguar Land Rover, owned by India’s Tata Motors (TTM), are also positive about the prospects for electric vehicle manufacturing in the United Kingdom. “Our continued investment in our UK facilities … will herald an exciting new era of electric car production in the UK,” the company said.

☆ Tesla is hiring 3,000 new workers and investing $3.6 billion to expand its Nevada Gigafactory
▼ + stars: | 2023-01-25 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

The company's $3.6B investment will add 3,000 jobs and 4 million square feet to its manufacturing footprint. Elon Musk has set a goal for Tesla to deliver 20 million cars annually by 2030. According to a tweet by the company, Tesla's additional investment will add 4 million square feet to the Nevada factory's manufacturing footprint. The company has said it needs to ramp up production in order to meet Musk's goal of delivering 20 million cars per year by 2030. In 2022, Tesla delivered 1.31 million vehicles, a 40% increase from the year before.

☆ Tesla plans to spend $3.6 billion more on battery and truck manufacturing in Nevada
▼ + stars: | 2023-01-24 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Tesla plans to spend $3.6 billion more on expanded battery and heavy duty truck manufacturing in Nevada, the company said Tuesday on social media. It wasn't immediately clear whether Tesla's plans expand the company's manufacturing footprint beyond the property it is already developing outside of Reno in Sparks, Nevada. Tesla began construction of its first battery factory in Nevada in 2014. Joe Lombardo revealed details about Tesla's plans for expansion in the state early on Monday. Tesla CEO Elon Musk held a ceremony in Nevada in December to kick off deliveries of the company's Tesla Semi to a key early customer, PepsiCo .

[1/5] Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. He added later that he chose not to take Tesla private due to a lack of support from some investors and a wish to avoid a lengthy process. Musk told the investors' lawyer Nicholas Porritt that he met on July 31, 2018, with representatives of Saudi Arabia's sovereign wealth fund, the Public Investment Fund, at Tesla's factory in Fremont, California. That never came to pass, Musk said, because the fund's governor, Yasir Al-Rumayyan, later backpedaled on the commitment to take Tesla private. "I was very upset because he had been unequivocal in his support for taking Tesla private when we met and now he appeared to be backpedaling," Musk testified.

☆ A major union in Germany says workers at Tesla's Berlin factory face unreasonable working hours and fear speaking out
▼ + stars: | 2023-01-16 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

A major German union has criticized the working conditions at Tesla's giant Berlin plant. IG Metall said long hours mean workers have too little time for "leisure, family, and relaxation." At the conference, IG Metall, a German union representing workers at Tesla's Gigafactory has criticized the electric carmaker for poor working conditions, Reuters reported. Tesla did not immediately respond to Insider's request for comment, made outside normal US working hours. Tesla struggled to hire at the Berlin-based factory because of low wages, IG Metall told Bloomberg in June.

☆ Indonesia says investment talks with Tesla still ongoing
▼ + stars: | 2023-01-12 | by ( Bernadette Christina | ) www.reuters.com time to read: +3 min

Luhut Pandjaitan, who has been leading the talks with Tesla, declined to disclose further details, citing a non-disclosure agreement. Bloomberg News also reported that the Indonesia talks include plans for production facilities and to facilitate the company's supply chain, citing people familiar with the matter. "I can't comment, we're still talking," Luhut told Reuters, adding that he had just recently held another round of talks with Tesla. Tesla currently makes its electric cars in China's Shanghai, Germany's Berlin, and Austin and Fremont in the United States. Indonesian authorities have said Japanese firms Toyota Motor Corp (7203.T) and Mitsubishi Motors Corp (7211.T) have pledged investments in EV production.

☆ China's exports seen cooling further in December on weak global demand, COVID woes: Reuters poll
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

Imports are expected to have fallen at a slower pace at 9.8% over December, after a fall of 10.6% in November. With many of China's trade partners on the verge of going into recession, external demand is cooling, only adding to the pressure Chinese policymakers are under to stem the economic fallout of the spread of COVID. "The trade outlook could be a top threat to China's growth ambition next year," said analysts at Citi in a note. "We are concerned about the external demand amid global recession risks... our base case is a modest decline of exports in 2023E," they added. Reporting by Joe Cash; polling by Veronica Khongwir and Susobhan Sarkar; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla nears deal to build production facilities in Indonesia -Bloomberg News
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly SongCompanies Tesla Inc FollowJan 12 (Reuters) - Tesla Inc (TSLA.O) is nearing a preliminary deal to build production facilities in Indonesia with a capacity of one million units, Bloomberg News reported on Wednesday, citing unidentified people familiar with the matter. Tesla makes its electric cars in China's Shanghai, Germany's Berlin, and Austin and Fremont in the United States. The latest report said the Indonesia talks include plans for production facilities and to facilitate the company's supply chain. Tesla has signed contracts worth about $5 billion to buy materials for batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia last year.

☆ Tesla files for $776 mln expansion of Texas gigafactory
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

Jan 10 (Reuters) - Tesla Inc (TSLA.O) has applied to expand its gigafactory in Austin, Texas, with an investment totaling $775.7 million, according to filings on the Texas state department of licensing's website on Monday and Tuesday. The electric vehicle maker plans to add five new facilities, including a cell test lab and a unit named "Cathode", the filings showed. Tesla did not immediately respond to a Reuters request for comment. The company is expected to host its investor day on March 1 at the Austin facility and will likely disclose plans for expansion and capital allocation. Reporting by Yuvraj Malik in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

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