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GM, POSCO Future M announce 2nd phase of CAM production in N America; adding pCAM

Green Car Congress

General Motors and POSCO Future M announced the second phase of their Ultium CAM joint venture, an investment projected to exceed US$1 billion to increase production capacity of cathode active materials (CAM) in North America and integrate precursor materials production. Site selection will be announced later.

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Volkswagen Group, Siemens invests $450M in Electrify America

Green Car Congress

The Volkswagen Group and Siemens are investing $450 million in Electrify America, with a post-money valuation of $2.45 Through its financing arm Siemens Financial Services (SFS), Siemens becomes a minority shareholder in Electrify America with a low triple-digit million USD investment and will hold a seat on the board.

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Hyundai Motor Plans On Building More Hybrids Inside North America

The Truth About Cars

News that Hyundai was considering shifting at least some of the production at its new EV facility in Georgia has been swirling since March. Munoz's comments come after the automaker said last month it planned to add equipment to build hybrid vehicles at the Georgia plant, which is set to start production in the second half of this year.

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GM investing $650M in Lithium Americas; offtake agreement from Thacker Pass

Green Car Congress

General Motors and Lithium Americas will jointly invest to develop the Thacker Pass mine in Nevada, which is the largest known source of lithium in the United States and the third-largest in the world. Lithium Americas estimates the lithium extracted and processed from the project can support production of up to 1 million EVs per year.

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Tesla Cybertruck 2024 production builds to be sold out soon

Teslarati

In the recent TSLA earnings call, Tesla executives shared that Cybertruck 2024 builds will be sold out soon. The comment hints at Tesla’s progress with its Cybertruck production ramp. At the recent earnings call, a few TSLA investor questions centered around the Tesla Cybertruck and its production. Retail investor Nermin S.

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LG Energy Solution to invest US$5.5B to build gigafactory complex in Arizona; cylindrical and pouch

Green Car Congress

The initiative marks the largest single investment yet for a stand-alone battery manufacturing facility in North America; it is also more than four times the amount the company initially announced last year (KRW 1.7 billion) in building cylindrical battery manufacturing facility with a capacity of 27GWh, and KRW 3 trillion (US$2.3

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Snow Lake Lithium calls for the creation of a complete electric vehicle ecosystem across North America

Green Car Congress

Seamless electrified ecosystem required from rock to road to secure the North American automotive industry Battery development and production is strategically important for the transition to clean-energy economy and to remain globally competitive Sustainable lithium mining and processing is an essential component of this ecosystem.