Wednesday, September 28, 2022
Uncategorized

GM, LG Energy Solution to build 2nd U.S. battery plant in Tennessee

By Ben Klayman DETROIT, April 16 (Reuters) - General Motors Co GM.N and South Korean joint-venture partner LG Energy Solution on Friday said they will build a second U.S. battery cell manufacturing plant, revealing plans for a $2.3 billion factory in Spring Hill, Tennessee. The planned 2.8 million-square-foot plant, scheduled to open in late 2023, will employ 1,300 people and will have production capacity of about 35 gigawatt-hours, similar to the companies' Ultium Cells joint-venture plant in Lordstown, Ohio, as they move to respond to the growing demand in the electric vehicle market. The plant's capacity would enable it...
Uncategorized

Daimler CEO expects ‘intense competition’ if Apple and Alibaba enter electric vehicle market

While the tech giants are yet to start selling their own cars, reports suggest they could soon launch products that combine hardware and software as the electric vehicle race heats up. Shares of Daimler have skyrocketed over the last 12 months, up more than 173% year-on-year to trade at 75 euros ($89) per share on Thursday. However, Daimler’s market cap has crashed to just 80 billion euros today from around 185 billion euros in 1998. Meanwhile, Tesla’s market cap has soared to $694 billion. LONDON — The chief executive of...
Battery MaterialsIPO & FundraisingUSA

Mining investor TechMet closes second funding round at $120 million

April 15 (Reuters) - Mining investment firm TechMet, which counts the U.S. government as its largest investor, said on Thursday it had closed its second round of funding at $120 million, roughly 50% higher than initially expected. The firm, which controls battery recycler Li-Cycle Corp, has now raised nearly $133 million between its two rounds of funding. TechMet plans to use the funds to continue investments in mines and other projects that produce metals used to make electric vehicles. "Our industry must completely transform itself in order to supply these strategic materials...
Battery Materials

Vision Blue Resources strategic investment in Ferro-Alloy Resources Limited

Highlights Investment of up to US$11.5m in London Stock Exchange listed Ferro-Alloy Resources Limited (“FAR”), developer of the Balasausqandiq Vanadium Project ("Balausa Project"), which has the potential to become the lowest cost producer of vanadium globallyVBR’s investment forms the majority of a total US$12.6m funding packageThe funding will:Complete the expansion of the existing, cashflow generating, processing facilitiesComplete the Bankable Feasibility Study on the Company's large scale, low cost Balausa ProjectSir Mick Davis to be appointed Chairman of FAR’s BoardEstablishment of strategic relationship provides Vision Blue Resources with the following future...
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