Category: Batteries

DOE: In 2022 money, EV battery costs have kept falling

Mercedes-Benz Alabama battery factoryMany analyses have shown that EV battery costs stopped decreasing in 2022, putting off affordability goals. But the U.S. Department of Energy (DOE) recently issued a reality check. Based on 2022-constant dollars, battery costs actually continued falling last year at the pack level, despite accelerated inflation, according to DOE estimates. The...

$2.5B DOE loan backs GM’s Ultium EV plan

Possible electric Chevrolet Camaro in GM Ultium teaser videoThe U.S. Department of Energy confirmed Monday morning a $2.5 billion federal loan to Ultium Cells LLC, for financing the construction of plants to supply many millions of future GM electric vehicles. The loan will fund the construction of joint-venture GM and LG Energy Solution battery plants in Ohio, Tennessee, and Michigan, and the confirmation...