Category: Batteries

Northvolt cutting costs, undergoing strategic review

Volvo and Northvolt partner on battery development and productionSwedish battery maker Northvolt is undertaking a strategic review that could lead to job losses as the company aims to cut costs and scale back ambitious expansion plans, Reuters reported Monday. "No final decisions have been made on the precise nature of any (workforce) resizing," Northvolt said in a statement to Reuters. The company has decided...

GM-Samsung $3.5B battery plant coming to Indiana

2024 Chevrolet Equinox EVSamsung SDI on Wednesday said it had signed an agreement with General Motors for a joint EV battery factory in Indiana. First reported by Reuters, the deal calls for the two companies to invest $3.5 billion in the factory, which targets annual production capacity of 27 gigawatt-hours of cells. Samsung reportedly expects the factory to begin mass...

EV battery costs dropped 90% in last 15 years

Mercedes-Benz Alabama battery factoryThe average price of a lithium-ion battery pack for a light-duty EV has decreased 90% over the past 15 years, the U.S. Department of Energy (DOE) estimates. In 2023, the DOE estimates pack prices averaged $139/kwh on a usable-energy basis for production at scale, meaning at least 100,000 units per year. That's still not quite at the magical...

Toyota reportedly building battery plant for Lexus

2025 Lexus ES 300hA new Toyota battery plant is reportedly in the works The Japanese plant would make batteries for Lexus EVs Toyota is building a battery plant in North Carolina as well Toyota plans to build a Japanese EV battery plant for its Lexus luxury brand, the Nikkei business daily reported Friday. Circulated by Reuters, the report said the new battery...