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

In the Enovix lab in Fremont, Calif. Photo: Courtesy Enovix

The Electric: Two More Senior Executives Leave Silicon Battery Maker Enovix

By Steve LeVine · Feb 8, 2023 4:30am PST

Two more senior executives have stepped down from silicon anode developer Enovix in recent weeks, including co-founder and Chief Technology Officer Ashok Lahiri, part of a widening shakeup after the company missed key milestones in scaling up. Two more senior executives have stepped down from silicon anode developer Enovix in recent weeks,...

The U.S. shot down this alleged Chinese spy balloon on Saturday. Photo: Peter Zay/Anadolu/Getty

The Electric: Would China Retaliate by Squeezing the U.S. Battery Supply?

By Steve LeVine · Feb 7, 2023 4:00am PST

China has so far refrained from retaliating for U.S. attacks on its tech sector, such as the clampdown on Chinese access to advanced semiconductors. But should Beijing decide to strike back, a primary source of leverage is its near-chokehold on the global supply of electric vehicle battery chemicals and components, according to an expert on... China has so far refrained from retaliating for U.S. attacks on its tech sector, such as the...

In September 2020, Musk and technology protege Drew Baglino, introducing the concept of dry cathode processing. Photo: Courtesy Tesla

The Electric: The Challenge for a Cheaper Battery—Dry Electrodes

By Steve LeVine · Feb 5, 2023 2:00pm PST

Last month, Tesla CEO Elon Musk teased investors with an artist’s rendering of a planned $3.6 billion expansion of the company’s flagship Nevada battery gigafactory. Using a fraction of the floor space devoted to the plant’s existing equipment, Musk said, Tesla would triple production, making enough batteries to equip 1.5 million electric... Last month, Tesla CEO Elon Musk teased investors with an artist’s rendering of a planned $3.6...

Thacker Pass, Nev. Photo: Courtesy Lithium Americas

The Electric: The New ‘Elephants’—GM Grabs the Biggest Lithium Deposit in the U.S.

By Steve LeVine · Feb 1, 2023 4:30am PST

Thacker Pass, Nev. Photo: Courtesy Lithium Americas

The Electric: The New ‘Elephants’—GM Grabs the Biggest Lithium Deposit in the U.S.

By Steve LeVine · Feb 1, 2023 4:30am PST

For a century, the world’s oil drillers fought for rights to what they called “elephants,” supergiant oil fields in the Middle East, Central Asia and the U.S., because just one of them could make a company fabulously wealthy. Now global auto companies are scrambling for the new elephants—giant lithium deposits, which are emerging as a key to... For a century, the world’s oil drillers fought for rights to what they called “elephants,”...

In Palo Alto, CA. in November 2010, Musk and Toyoda announce what would become a star-crossed partnership. Photo: Kiyoshi Ota/Bloomberg

The Electric: Modern EVs Were Born in Japan. So Why Have the Japanese Lost Their Way?

By Steve LeVine · Jan 29, 2023 2:00pm PST

In 2010, Akio Toyoda, chief executive of Toyota, the Japanese automaker his grandfather founded decades earlier, sipped red wine in Palo Alto, Calif., with Elon Musk, CEO of electric vehicle upstart Tesla, and drove the entrepreneur’s flashy Roadster. Toyoda, only recently installed as CEO, was taken by Musk’s spirit and determination on the... In 2010, Akio Toyoda, chief executive of Toyota, the Japanese automaker his grandfather founded...

Manchin. Photo: Eric Lee/Bloomberg

The Electric: Manchin Uses a Threat to EV Tax Credits to Fight the Battery War His Way

By Steve LeVine · Jan 26, 2023 4:30am PST

For the last three weeks, U.S. buyers of electric cars have been eligible for a $7,500 tax credit, courtesy of the climate law passed by Congress last year. Now the senator most responsible for the credits, angry over how the Biden administration is implementing the law, is threatening to take them away and possibly force consumers who have... For the last three weeks, U.S. buyers of electric cars have been eligible for a $7,500 tax...

Left to right, battery-grade nickel sulphate and cobalt sulphate, both produced in Finland. Photo: Courtesy Finnish Minerals Group.

The Electric: Europe’s Battery Supply Chain Is Likely to Be Far-Flung—and Mostly Not in Europe

By Steve LeVine · Jan 22, 2023 2:00pm PST

In the early years of this century, Finnish phone manufacturer Nokia controlled nearly 40% of global handset sales, creating a windfall for the country’s economy. Nokia accounted for a quarter of the country’s economic growth and corporate tax revenue, a fifth of its exports, and almost two-thirds of the value of the Helsinki stock market. But... In the early years of this century, Finnish phone manufacturer Nokia controlled nearly 40% of...

Site of the proposed Rhyolite Ridge lithium mine. Photo: Courtesy Ioneer

The Electric: Biden Administration Attempts to Woo Wary Investors in Battery Metals Mining

By Steve LeVine · Jan 18, 2023 5:00am PST

Site of the proposed Rhyolite Ridge lithium mine. Photo: Courtesy Ioneer

The Electric: Biden Administration Attempts to Woo Wary Investors in Battery Metals Mining

By Steve LeVine · Jan 18, 2023 5:00am PST

The Biden administration, hoping to win over private investors who have been slow to back U.S. projects to mine metals for electric vehicle batteries, is framing its support for a proposed Nevada lithium mine as evidence that the U.S. is serious about reversing a decadeslong decline in heavy industry.The conditional $700 million Department of... The Biden administration, hoping to win over private investors who have been slow to back U.S....

In 2019, Volkswagen became a joint investor with Ford in Argo AI. Left to right: Ford CEO Jim Hackett, Argo CEO Bryan Salesky, VW CEO Herbert Diess. Photo: Courtesy VW

The Electric: Will Assisted Driving Tech Give Detroit a Stock Boost? Don’t Bet on It

By Steve LeVine · Jan 15, 2023 2:00pm PST

In March 2017, Mark Fields, then CEO of Ford, announced one of the most surprising gambles in company history—a $1 billion investment in Argo AI, a little-known Pittsburgh startup that promised to help Ford produce a driverless car by 2021. Though Ford wasn’t prone to betting on unproven startups, Fields suggested he had little choice: By the... In March 2017, Mark Fields, then CEO of Ford, announced one of the most surprising gambles in...

A lithium pile at Pilbara Minerals' Pilgangoora mine in Port Hedland, Australia. Photo: Carla Gottgens/Bloomberg

The Electric: Biden Administration Favors Making More Nations Eligible for U.S. Battery Subsidies

By Steve LeVine · Jan 11, 2023 5:00am PST

The landmark climate bill signed into law in August offered tens of billions of dollars in subsidies for electric vehicles whose batteries contain materials from the U.S. or countries with which the U.S. has a free trade agreement. That excluded many of the most ore-rich countries of the world, and the Biden administration has been seeking a way... The landmark climate bill signed into law in August offered tens of billions of dollars in...

Stellantis CEO Carlos Tavares, with the concept electric Ram Revolution. Photo: Bridget Bennett/Bloomberg

The Electric: EV Makers Brag About Next-Gen Batteries, but They Won’t Be Ready Soon

By Steve LeVine · Jan 8, 2023 2:00pm PST

Late to the electric vehicle race, Stellantis CEO Carlos Tavares bounded onstage Thursday at the Consumer Electronics Show, the biggest tech event of the year, and boasted: In 2026, he said, Stellantis would produce a sleek new electric version of the popular Ram pickup truck. Among other bells and whistles, a breakthrough solid-state... Late to the electric vehicle race, Stellantis CEO Carlos Tavares bounded onstage Thursday at the...

T.J. Rodgers, executive chair of Enovix, at the company's Fremont, CA. headquarters. Photo: Courtesy Enovix

The Electric: Enovix Chair Tries to Calm Investors, But Company’s Stock Tanks

By Steve LeVine · Jan 4, 2023 1:09pm PST

T.J. Rodgers, executive chair of Enovix, at the company's Fremont, CA. headquarters. Photo: Courtesy Enovix

The Electric: Enovix Chair Tries to Calm Investors, But Company’s Stock Tanks

By Steve LeVine · Jan 4, 2023 1:09pm PST

T.J. Rodgers, executive chair of silicon battery developer Enovix, on Tuesday set out to reassure investors that the company had a path to scale up its promising technology. It didn’t work. On Wednesday, Enovix shares fell roughly 45% to an all-time low of $6.50 before recovering slightly later in the day. In all, shares have declined about 80%... T.J. Rodgers, executive chair of silicon battery developer Enovix, on Tuesday set out to reassure...

The Electric Quarterly: In 2022, the U.S. Raced Into the Battery Game, but Dark Clouds Loom Ahead

The Electric Quarterly: In 2022, the U.S. Raced Into the Battery Game, but Dark Clouds Loom Ahead

By Steve LeVine · Jan 1, 2023 2:00pm PST

At the start of 2022, China was the clear global leader in producing electric vehicles and batteries and processing the minerals that make them work. The U.S., by contrast, had plans for few battery factories and virtually no factories to process the necessary raw materials. A year later, the rest of the world is scrambling to respond to an... At the start of 2022, China was the clear global leader in producing electric vehicles and...

Nickel cores drilled by Talon Metals at the Tamarack Mine in Minnesota. Photo: Courtesy Talon Metals

The Electric: Struggling to Grasp Batteries, U.S. Officials Delay EV Rebate Rules

By Steve LeVine · Dec 20, 2022 3:30am PST

After scrambling for four months to get up to speed on the innards of electric vehicle batteries, U.S. officials on Monday said they will miss a Dec. 31 deadline to issue much-awaited rules governing a new $7,500 consumer tax rebate for EV purchases. Instead, they will release only the “anticipated direction” of the rules by the end of the... After scrambling for four months to get up to speed on the innards of electric vehicle batteries,...

Piedmont Lithium has riled up local opposition to its mining plans. Photo: Courtesy Stop Piedmont Lithium

The Electric: Will Americans Embrace Dirty Plants Making Clean Technologies?

By Steve LeVine · Dec 18, 2022 2:00pm PST

The U.S. has made a $250 billion bet that it can build a world-class battery industry, and puncture China's domination of the technology. But to get there, the country must reverse decades-old local opposition in the country to mining and heavy industry. This week, we look at Piedmont Lithium, a poster child for how not to win over local... The U.S. has made a $250 billion bet that it can build a world-class battery industry, and...

Albemarle received a $149.6 million grant under this year's infrastructure law to develop a lithium processing plant at Kings Mountain, N.C. Photo: Courtesy Albemarle

The Electric: Introducing the Battery Triumvirate, the Most Powerful Washington Hands You Don’t Know

By Steve LeVine · Dec 11, 2022 2:00pm PST

Albemarle received a $149.6 million grant under this year's infrastructure law to develop a lithium processing plant at Kings Mountain, N.C. Photo: Courtesy Albemarle

The Electric: Introducing the Battery Triumvirate, the Most Powerful Washington Hands You Don’t Know

By Steve LeVine · Dec 11, 2022 2:00pm PST

The Biden administration has embarked on the largest industrial buildout since World War II—more than $250 billion to create a battery industry. But who’s in charge of disbursing all that money? This week, we look at the battery triumvirate, three men—two of them little known outside renewable energy—stewarding one of the most important... The Biden administration has embarked on the largest industrial buildout since World War II—more...

Copper, necessary in electric vehicle batteries, ready for export in Democratic Republic of the Congo, whose supply is dominated by Chinese companies. Photo: Lucien Kahozi/Bloomberg

The Electric: U.S. Officials Leave a Door Ajar for Chinese Battery Companies in the U.S.

By Steve LeVine · Dec 6, 2022 3:30am PST

Leading U.S. officials appear open to allowing some Chinese companies to receive U.S. tax credits and other incentives approved by Congress to encourage the creation of a U.S.-led battery supply chain independent from China.The question of Chinese eligibility for the approximately $250 billion in incentives that take effect next year is a... Leading U.S. officials appear open to allowing some Chinese companies to receive U.S. tax credits...

Three years late, Tesla CEO Elon Musk delivered the company's first Semi big rig truck. (Photo: Courtesy Tesla)

The Electric: Tesla Has Delivered Its First Electric Big Rig. Now Comes the Hard Part

By Steve LeVine · Dec 4, 2022 2:00pm PST

Three years after he promised to deliver the Tesla Semi, Elon Musk last week finally handed over five of the big rigs to PepsiCo. Musk is promising to follow those with the production of 50,000 Semis in 2024. This week, we look at why he will get nowhere near that production number this decade.In 2017, Elon Musk unveiled the Tesla... Three years after he promised to deliver the Tesla Semi, Elon Musk last week finally handed over...

Solid Power's early solid state lithium metal cells. Photo: Courtesy Solid Power

The Electric: A Next-Gen Battery Maker Stumbles and Replaces Its CEO

By Steve LeVine · Nov 30, 2022 3:58pm PST

The share price of solid state battery manufacturer Solid Power fell 14% on Wednesday after the surprise resignation of co-founder and CEO Doug Campbell. Campbell’s exit comes 18 months after the startup abruptly shifted from its original lithium-metal technology to a silicon-based battery, an easier material to develop.The Colorado-based... The share price of solid state battery manufacturer Solid Power fell 14% on Wednesday after the...

Joby Aviation is likely to have the first certified electric flying taxi in the U.S. Photo: Courtesy Joby

The Electric: One Step Forward for Air Taxis, but a Long Road Ahead

By Steve LeVine · Nov 27, 2022 2:00pm PST

Joby Aviation is likely to have the first certified electric flying taxi in the U.S. Photo: Courtesy Joby

The Electric: One Step Forward for Air Taxis, but a Long Road Ahead

By Steve LeVine · Nov 27, 2022 2:00pm PST

This Thursday: The U.S. is putting down hundreds of billions of dollars on one of the biggest technological bets in the world—that it can establish its own battery industry, and halt its dependence on China. To hear the inside story of how the U.S. is doling out the money, I'm excited to host Jigar Shah, director of the $250 billion... This Thursday: The U.S. is putting down hundreds of billions of dollars on one of the biggest...