• General Motors and LG Energy Solution will spend an additional $275 million in their joint venture battery plant in Tennessee to increase production by more than 40%.

Source: Battery Industry

• Lithium-ion batteries retired from electric vehicles due to degradation over time can be repurposed for other applications since it retains high energy density. LG Energy Solution develops business models and application technologies utilizing retired electric vehicle batteries. One example of which is accurately predicting the battery life of used batteries.

Source: Batteries News

• We are delighted to announce the construction of a 1.5 million sq feet state-of the-art 30GWh gigafactory in South Carolina. The $810 million investment builds on our commitment to the US market and securing of high value jobs for generations to come and accelerating the global transition to net zero.

Source: Envision AESC

• Rising raw material and battery component prices and soaring inflation have led to the first ever increase in lithium-ion battery pack prices since BloombergNEF (BNEF) began tracking the market in 2010. After more than a decade of declines, volume-weighted average prices for lithium-ion battery packs across all sectors have increased to $151/kWh in 2022, a 7% rise from last year in real terms.

Source: Bllomberg NEF

• General Motors is reportedly planning to establish the Corvette sports car series as an electric car subsidiary and to expand the model range. According to a media report, a four-door coupé and a high-performance crossover are planned in addition to the already confirmed classic electric Corvette.

Source: Electrive