The Electric by Steve LeVine — The Information

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The Electric

By Steve LeVine

The Electric is a publication from Steve LeVine and The Information focused on crucial industries for the energy transition, including next-generation batteries, electric vehicles and autonomous driving. The newsletter is only for subscribers of The Information.

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Recent Editions

A lithium brine operation in Chile's Salar de Atacama. Photo: Lucas Aguayo Araos/Anadolu/Getty

The Electric: Lower Metals Costs Invite Risky Forecasts of More-Robust EV Sales

By Steve LeVine · Sep 21, 2023 4:49am PDT

Recent declines in the cost of batteries have persuaded some analysts to significantly increase their forecasts of electric vehicle sales later this decade. But the sales projections partly depend on the prices of battery metals like lithium and nickel staying comparatively low, a considerable risk given wild price swings over the last two... Recent declines in the cost of batteries have persuaded some analysts to significantly increase...

Tesla CEO Elon Musk, right, and Drew Baglino, Tesla's senior vice president of power train, on Battery Day on Sept. 22, 2020. Photo: Courtesy Tesla

The Electric: Musk Promised a $25,000 EV by This Week. Why It’s Still Urgent He Produces It

By Steve LeVine · Sep 18, 2023 4:30am PDT

Three years ago this week, Tesla CEO Elon Musk presided over a spirited outdoor event that he called “Battery Day.” For years, Musk had teased plans to eventually introduce an affordable mass-market electric vehicle, and now, speaking to a parking lot full of honking fans sitting in Teslas, he explained how he would do it. For more than two... Three years ago this week, Tesla CEO Elon Musk presided over a spirited outdoor event that he...

Albemarle's Silverpeak, Nev. lithium brine operation. Photo: Bizuayehu Tesfaye/Las Vegas Review-Journal/Getty

The Electric: Albemarle Will Continue to Refine Most of Its Lithium in China in 2030

By Steve LeVine · Sep 14, 2023 4:30am PDT

North Carolina-based Albemarle, the world’s most valuable lithium producer by market cap, hopes to boost its global production of the metal more than threefold by the end of the decade. But the company expects just 30% of its output to qualify for subsidies under the Inflation Reduction Act, Eric Norris, the company’s president for lithium, said... North Carolina-based Albemarle, the world’s most valuable lithium producer by market cap, hopes...

UAW Shawn Fain threatens to strike Thursday at midnight if there is no contract. Photo: Bill Pugliano/Getty

The Electric: In Contract Talks, Detroit Avoids the Real Issue: Making Desirable EVs

By Steve LeVine · Sep 11, 2023 4:30am PDT · 2 comments

UAW Shawn Fain threatens to strike Thursday at midnight if there is no contract. Photo: Bill Pugliano/Getty

The Electric: In Contract Talks, Detroit Avoids the Real Issue: Making Desirable EVs

By Steve LeVine · Sep 11, 2023 4:30am PDT · 2 comments

Detroit’s Big Three carmakers and the United Auto Workers union are slugging it out over higher wages, pensions and shorter workdays as a deadline looms this week in their latest four-year round of contract negotiations. But the unseen driver in the strategies of the two sides is survival amid the shift to electric vehicles, the most fundamental... Detroit’s Big Three carmakers and the United Auto Workers union are slugging it out over higher...

China's Huayou Cobalt is trying to figure out how to supply battery nickel to the U.S. market despite U.S.-China tensions. Photo: VCG/Getty

Exclusive from The Electric: A Leading Chinese Nickel Producer Tries Its Luck in the U.S.

By Steve LeVine · Sep 7, 2023 4:30am PDT

The Inflation Reduction Act was meant to keep companies like Huayou Cobalt, a leading Chinese supplier of battery-grade nickel to Western carmakers including Tesla, Ford and Volkswagen, out of the U.S. battery supply chain. But the company is attempting to break into the U.S. market anyway and qualify for IRA tax credits.In a conversation this... The Inflation Reduction Act was meant to keep companies like Huayou Cobalt, a leading Chinese...

Nikola Tesla's alternating current illuminated the 1893 World's Fair in Chicago. Photo: Chicago History Museum/Getty

The Electric: The U.S.-French Race to Electrify the Skies Above the Olympics

By Steve LeVine · Sep 4, 2023 4:31am PDT

In 1876, millions of visitors to the World’s Fair in Philadelphia saw the first typewriter, the largest steam engine ever, and arguably the showstopper—the telephone, demonstrated by Alexander Graham Bell. Seventeen years later, visitors to the Chicago World’s Fair witnessed Nikola Tesla’s system of alternating electric current and the “City of... In 1876, millions of visitors to the World’s Fair in Philadelphia saw the first typewriter, the...

When they crash, like the Tesla above, EVs take an average of 58 days to be repaired and cost $6,587 to fix. Photo: Tayfun Coskun/Anadolu/Getty

The Electric: The Nightmare Cost of Repairing Your Wrecked EV

By Steve LeVine · Aug 31, 2023 4:30am PDT

When considering an electric vehicle, a motorist will typically focus on its looks, how fast it accelerates and how far the vehicle will go on a charge. What the motorist will almost certainly not contemplate: the average of 58 days they will have to wait for repairs should they wreck that brand-spanking-new car, and the average $6,587 it will... When considering an electric vehicle, a motorist will typically focus on its looks, how fast it...

A battery oversupply from CATL and other major Chinese companies may flood the West this decade, according to Goldman Sachs. Photo: CFOTO/Future/Getty

The Electric: A Coming Chinese Battery Deluge?

By Steve LeVine · Aug 28, 2023 4:30am PDT · 4 comments

A battery oversupply from CATL and other major Chinese companies may flood the West this decade, according to Goldman Sachs. Photo: CFOTO/Future/Getty

The Electric: A Coming Chinese Battery Deluge?

By Steve LeVine · Aug 28, 2023 4:30am PDT · 4 comments

On Aug. 15, a California-based executive of Chinese battery company Gotion posted a message on LinkedIn, offering lithium-ion batteries at a “significant” markdown. “If you are interested in cells, modules, packs, or systems and would like to take deliveries in the next 6 months—let’s talk,” wrote Vikash Venkataramana, Gotion’s vice president of... On Aug. 15, a California-based executive of Chinese battery company Gotion posted a message on...

Gotion's facility in Fremont, Calif. Photo: Courtesy Gotion

Exclusive From The Electric: China’s Gotion Expects U.S. Tax Credits for Its U.S. Battery Production

By Steve LeVine · Aug 24, 2023 4:30am PDT

For the first time, Chinese battery manufacturer Gotion has said it expects lithium-ion batteries it plans to make in the U.S. to qualify for millions of dollars in U.S. tax credits under the Inflation Reduction Act, a law designed to create a U.S.-led battery supply chain. For the first time, Chinese battery manufacturer Gotion has said it expects lithium-ion batteries...

Freyr's battery gigafactory "Giga Arctic," where it hopes to begin production next year. Photo: Courtesy Freyr Battery

The Electric: A Battery CEO on Why He’s Stepping Down and Moving His Company to the U.S.

By Steve LeVine · Aug 21, 2023 4:30am PDT · 1 comment

On Aug. 10, Norwegian battery maker Freyr Battery announced a dramatic shake-up: CEO Tom Jensen stepped aside and became executive chair, effective today, replacing founder Torstein Sjøtveit, who retired. In the same announcement, the board said it was moving Freyr’s headquarters from Luxembourg to the U.S.Investors hardly noticed, but the moves... On Aug. 10, Norwegian battery maker Freyr Battery announced a dramatic shake-up: CEO Tom Jensen...

In September, Lucid Motors plans to release the 419-mile, rear-wheel-drive Air Pure, whose battery efficiency will be 4.7 miles per kilowatt hour, the highest in the industry. Photo: Courtesy Lucid

The Electric: Lucid Touts Its Vehicles' Efficiency

By Steve LeVine · Aug 17, 2023 4:30am PDT · 1 comment

Most auto companies and their customers are obsessed with how far electric vehicles will go on a charge. To be taken seriously, most carmakers think an EV should have 250 to 300 miles of range; 400 to 500 miles on a charge is the ultragold standard. EVs that deliver such long range are kings of the hill.Lucid Motors says this thinking is all... Most auto companies and their customers are obsessed with how far electric vehicles will go on a...

Toyota's first hybrid Land Cruiser, to be distributed in North America and China.

The Electric: Is Toyota Right to Be Skeptical About EVs?

By Steve LeVine · Aug 14, 2023 4:30am PDT

Toyota's first hybrid Land Cruiser, to be distributed in North America and China.

The Electric: Is Toyota Right to Be Skeptical About EVs?

By Steve LeVine · Aug 14, 2023 4:30am PDT

On Aug. 2 in Tokyo, Toyota unveiled the first hybrid electric Land Cruiser, a refreshed version of a large SUV previously known for its off-road muscle-bound chops, now containing both a gasoline engine and a small electric motor. Toyota, which had pulled the Land Cruiser from its U.S. lineup in 2021 after Americans began to balk at its $85,000... On Aug. 2 in Tokyo, Toyota unveiled the first hybrid electric Land Cruiser, a refreshed version...

Proterra's bus manufacturing factory in Greenville, S.C. Photo: Courtesy Proterra

The Electric: The Valley of Death Takes Out Another EV Maker

By Steve LeVine · Aug 10, 2023 4:30am PDT

In May, Michael Shlisky, an analyst with investment bank D.A. Davidson, listened to electric truck and bus manufacturer Proterra’s first-quarter earnings call and was impressed: Just a few months earlier, the Burlingame, Calif., company’s share price had been in free fall, plunging 79% in six weeks, in part because it had been burning through... In May, Michael Shlisky, an analyst with investment bank D.A. Davidson, listened to electric...

German electric air taxi maker Lilium hopes to begin commercial operations in 2025. Photo: Paul Hanna/Bloomberg via Getty

The Electric: A University Leaps Into Electric Aviation

By Steve LeVine · Aug 7, 2023 4:30am PDT

In 2000, Toyota introduced the hybrid Prius in the U.S. Sales started slowly—Americans bought just 5,600 of the novel cars that first year and 15,600 the next, a tiny fraction of the Japanese company’s sales. Yet-Ming Chiang, a professor at the Massachusetts Institute of Technology who at the time was just about to set up his own battery... In 2000, Toyota introduced the hybrid Prius in the U.S. Sales started slowly—Americans bought...

One sailor died and seven were injured jumping overboard when the car carrier Fremantle Highway, ferrying 498 EVs and more than 3,000 other vehicles, caught fire last week near the Netherlands. Photo: Dutch Coast Guard/Anadolu/Getty

The Electric: A New Concern for EVs: Fires Aboard Transport Ships

By Steve LeVine · Aug 3, 2023 4:30am PDT

Shipping companies have urged international maritime regulators to create safety rules for transporting electric vehicles after a spate of fires aboard freighters carrying EVs, including one last week near the Netherlands that killed a crew member and injured seven others. In the latest accident, the 650-foot Fremantle Highway caught fire... Shipping companies have urged international maritime regulators to create safety rules for...

In October, Byd unveiled the electric Atto-3 SUV in New Delhi, with hopes of opening up a new market in India. Photo: Sonu Mehta/Hindustan Times/Getty

The Electric: Pushback to China's EV Juggernaut

By Steve LeVine · Jul 31, 2023 4:30am PDT

In October, Byd unveiled the electric Atto-3 SUV in New Delhi, with hopes of opening up a new market in India. Photo: Sonu Mehta/Hindustan Times/Getty

The Electric: Pushback to China's EV Juggernaut

By Steve LeVine · Jul 31, 2023 4:30am PDT

China dominates the electric vehicle, battery and critical metals industries. In recent weeks, though, policymakers in other countries have begun to push back: In Australia, regulators blocked Chinese investment in a lithium mine; in India, officials rejected a factory proposed by the largest Chinese EV maker; and in the U.S. Congress,... China dominates the electric vehicle, battery and critical metals industries. In recent weeks,...

In New York in June, Tesla CEO Elon Musk meets with India Prime Minister Narendra Modi. Photo: Indian PIB/Anadolu/Getty

The Electric: EV Makers Eye India as Their Next Big Market

By Steve LeVine · Jul 27, 2023 4:30am PDT

The world’s major automakers have announced plans to spend tens of billions of dollars on electric vehicle assembly plants, battery gigafactories and mining operations around the world. But they have largely shunned India. Though India is now tied as the world’s third-largest auto market, major carmakers have announced no EV or battery... The world’s major automakers have announced plans to spend tens of billions of dollars on...

Up to 1 billion combustion vehicles will still be on the road globally three decades from now despite the rapid shift to electric cars. Photo: Dünzl/ullstein bild/Getty.

The Electric: In 2050, There May Still Be 1 Billion Combustion Vehicles on the Road

By Steve LeVine · Jul 24, 2023 4:30am PDT

Sales of electric vehicles are growing at 55% a year. California and the EU have both banned the sale of new combustion vehicles after 2035. Yet in 2050 drivers will still be plying the world’s roads in up to 1 billion combustion vehicles, according to leading analysts. Combustion’s tenacity will exacerbate the extreme weather conditions... Sales of electric vehicles are growing at 55% a year. California and the EU have both banned the...

China's Chery plans to use a sodium-ion battery in its iCar. Photo: Qilai Shen/Bloomberg/Getty

The Electric: A Startup Emerges to Produce Sodium-ion Batteries in the U.S.

By Steve LeVine · Jul 20, 2023 4:30am PDT

A former executive of battery cell maker Enovix has launched a startup to develop low-cost sodium-ion batteries, a new segment of the industry that does not use increasingly scarce lithium. The startup is among the first using the chemistry outside China, the world’s biggest producer of lithium-ion batteries, which has quickly taken a large lead... A former executive of battery cell maker Enovix has launched a startup to develop low-cost...

China's Byd, which sells most of its EVs at home, is attempting to carve out a market for its electric Tang in Europe. Photo: Sjoerd van der Wal/Getty

The Electric: An EV Sales Warning for Major Automakers

By Steve LeVine · Jul 17, 2023 4:31am PDT · 1 comment

China's Byd, which sells most of its EVs at home, is attempting to carve out a market for its electric Tang in Europe. Photo: Sjoerd van der Wal/Getty

The Electric: An EV Sales Warning for Major Automakers

By Steve LeVine · Jul 17, 2023 4:31am PDT · 1 comment

Over the next three years, General Motors, Toyota and other automakers plan to launch dozens of new electric vehicles, hoping to capture serious market share from industry leaders Tesla and Byd. But sales growth is slowing and unsold EVs are multiplying on dealer lots, casting doubt on the pace of the EV transition and some automakers’ chances... Over the next three years, General Motors, Toyota and other automakers plan to launch dozens of...