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Search resuls for: "Electric Vehicle Supply"


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☆ UAW union president optimistic on quick contract with GM-LG battery venture
  + stars: | 2022-12-12 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
WASHINGTON, Dec 12 (Reuters) - United Auto Workers (UAW) President Ray Curry said Monday he is optimistic the union can quickly reach a contract deal with a General Motors (GM.N), LG Energy Solution (373220.KS) battery cell joint venture factory. The Detroit Three automakers all have battery plants in the works with South Korean partners and Ultium is building two other U.S. battery plants in Tennessee and Michigan. He said it would be "premature" to say how a deal with the union would affect labor costs or business structure. Ultium is building a $2.6 billion plant in Michigan, set to open in 2024. This month, Ultium said it would boost its planned investment in a $2.3 billion Tennessee plant by $275 million.
☆ Biden administration announces $2.5 billion loan to help GM and LG make EV batteries
  + stars: | 2022-12-12 | by ( Ella Nilsen | ) edition.cnn.com   time to read: +2 min
CNN —The US Department of Energy’s Loan Programs Office will announce Monday that it is issuing a $2.5 billion loan to help start three lithium battery manufacturing hubs in Ohio, Tennessee and Michigan. The DOE loan programs office will loan the money to Ultium Cells LLC, a joint venture of General Motors and South Korean battery manufacturer LG Energy Solutions making batteries to power electric vehicles. In order to take advantage of a federal EV tax subsidy in the Inflation Reduction Act, electric vehicles and much of their battery components be sourced, processed and assembled in North America. LG Energy Solutions is also set to partner with Japanese automaker Honda on a $3.5 billion joint venture battery factory in southern Ohio. The Warren, Ohio, Ultium facility will be represented by the United Auto Workers, after the plant voted to unionize on Friday.
☆ Ohio workers vote to unionize GM, LG battery plant
  + stars: | 2022-12-09 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
The Detroit Three automakers all have battery plants in the works with South Korean partners. The UAW petitioned in October to represent about 900 workers at the Ohio plant after a majority of employees signed cards authorizing the union to represent them. Production began in August at the Ohio plant, the first of at least four planned Ultium U.S. battery factories. GM and LG Energy are considering an Indiana site for a fourth U.S. battery plant. Last week, GM Chief Executive Mary Barra expressed support for unionizing the Ohio plant.
☆ Canada says war, climate concerns show need for supply chain shift
  + stars: | 2022-11-30 | by ( Steve Scherer | ) www.reuters.com   time to read: +2 min
Canada also launched an Indo-Pacific strategy on Sunday meant to counter Chinese power in the region. Canadian Prime Minister Justin Trudeau is interviewed by Reuters Editor-in-Chief Alessandra Galloni via video link during a Reuters NEXT Newsmaker event in New York City, U.S., November 30, 2022. REUTERS/Brendan McDermidChina now dominates the critical-mineral portion of the electric vehicle supply chain. In recent months, Canada has also been reminding its top trading partner, the United States, of its value as a neighbor. "We of course stand with those protesters," Trudeau said.
☆ Elon Musk says 'I have too much work on my plate'
  + stars: | 2022-11-14 | by ( Leika Kihara | ) www.reuters.com   time to read: +3 min
[1/2] Elon Musk, Tesla Inc. CEO, is seen on screens as he speaks virtually during the B20 Summit, ahead of the G20 leaders' summit, in Nusa Dua, Bali, Indonesia, November 14, 2022. "I have too much work on my plate that is for sure," Musk said by videolink to a business conference on the sidelines of the G20 summit in Bali. Musk is chief executive of both companies and also runs rocket firm SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company. Responding to an observation that many business leaders in Asia wanted to be the "Elon Musk of the East," Musk said: "I'd be careful what you wish for. "I'm just looking at this video and it's so bizarre," Musk said.
☆ Indonesia’s Battery Success Runs on China and Coal
  + stars: | 2022-10-20 | by ( Megha Mandavia | ) www.wsj.com   time to read: 1 min
More than half of the world’s nickel is produced with coal-fueled energy, such as from this plant in China’s northwestern Gansu province. Indonesia’s ambition to move up the battery and electric vehicle supply chain is coming together, but it largely has China to thank—and is powered by dirty coal. That may cause headaches for Western governments eager to simultaneously decarbonize and shift the battery supply chain out from under Beijing’s thumb. Indonesia, the world’s largest nickel supplier, accounts for 32% of global nickel mining capacity, according to Norwegian consulting firm Rystad Energy. By banning raw nickel exports in 2020, Indonesia has also spurred investment downstream by foreign companies in nickel processing and battery production.
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