Category: Batteries

Northvolt battery maker files for bankruptcy

Northvolt lithium-ion battery cellSwedish battery firm Northvolt filed for U.S. Chapter 11 bankruptcy protection Thursday, with CEO Peter Carlsson stepping down the following day. Northvolt needs to raise between $1 billion and $1.2 billion to restore itself to full operations, Carlsson told Reuters and other media Friday. On Thursday, the company said it only had enough cash to...

Study: EV battery prices to drop by 50% by 2026

Audi battery assembly at Brussels, Belgium, factoryEV battery prices have been falling, and they could decline even more steeply over the next two years, according to a new Goldman Sachs report. On the pack level, global average battery prices declined from $153 per kwh in 2022 to $149 in 2023, according to the report, which predicts that they'll continue dropping to $80 per kwh by 2026. That's...

Report: US may undercut China on batteries by 2030

Mercedes-Benz Alabama battery factoryThe U.S. could produce cheaper EV batteries than China by 2030, according to a new report by analysis firm Benchmark Mineral Intelligence (via Politico). But that depends on Biden administration policies undergirding current battery-manufacturing momentum staying in place. The cost reductions are dependent on tax credits from the Inflation...