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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 Byd Yuan Plus, on the road in Merida, Mexico. Photo: Jeffrey Greenberg/Universal/Getty
The Electric

The Electric: Bold U.S. Moves Could Invite Chinese Retaliation Against Tesla

By Steve LeVine · Sep 26, 2024 4:30am PDT · 1 comment
The Biden administration’s latest salvo against Chinese electric vehicles carries a risk: potential retaliation against Tesla. The Biden administration’s latest salvo against Chinese electric vehicles carries a risk:...
Group14 Technologies' anode powder plant in Sangju, South Korea, a joint venture with SK On. Photo: Courtesy Group14.
The Electric

The Electric: With a $3 Billion Bet, the U.S. Strikes at the Heart of China’s EV Empire

By Steve LeVine · Sep 23, 2024 4:30am PDT
Chinese companies dominate the market for electric vehicle batteries and the supply chain behind them. But U.S. companies hold their own in one segment: high-silicon electrodes, which add significant driving range and charging speed. Chinese companies dominate the market for electric vehicle batteries and the supply chain behind...
Photo: Courtesy 6K
The Electric

The Electric: Facing a Skeptical Clientele, a Battery Company Builds Its Own Plant

By Steve LeVine · Sep 19, 2024 4:30am PDT
In 2020, 6K, a North Andover, Mass., materials company, launched an energy division with the aim of making the toxic and laborious manufacture of battery electrodes cheaper and cleaner. Now, after failing to win business from large established electrode makers, the company plans to make the electrodes itself.The move reflects how Western battery... In 2020, 6K, a North Andover, Mass., materials company, launched an energy division with the aim...
Ford CEO Jim Farley, top, and the company's head of EV development, Doug Field. Photos: Getty
Three-Quarters of Ford’s EV ‘Skunkworks’ Are Tesla, Apple and Rivian Alums
By Steve LeVine · Sep 16, 2024 4:30am PDT
Ford CEO Jim Farley, top, and the company's head of EV development, Doug Field. Photos: Getty
The Electric

Three-Quarters of Ford’s EV ‘Skunkworks’ Are Tesla, Apple and Rivian Alums

By Steve LeVine · Sep 16, 2024 4:30am PDT
In a call with Wall Street analysts in February, Ford CEO Jim Farley and Chief Financial Officer John Lawler detailed the costs to the company of its flagship electric Mach-E SUV and F-150 Lightning pickup. Ford lost $47,000 for each electric vehicle it sold in the fourth quarter of 2023, and was on track to lose up to $5.5 billion on EVs this... In a call with Wall Street analysts in February, Ford CEO Jim Farley and Chief Financial Officer...
Piedmont Lithium's headquarters in Belmont, N.C. Photo: Google Earth
The Electric

One in Four Recipients of a U.S. Battery Grant Has Given Them Up

By Steve LeVine · Sep 12, 2024 5:45am PDT · 1 comment
When Piedmont Lithium withdrew its application for a Department of Energy loan to build an $800 million lithium refinery, it joined a growing list of U.S. battery and mining companies that, roiled by slow electric vehicle sales, are walking away from government aid intended to spur a domestic battery supply chain. In some cases, companies have... When Piedmont Lithium withdrew its application for a Department of Energy loan to build an $800...
The Electric Newsletter
An exclusive publication covering the nascent battery and electric vehicle revolutions.
By providing your email, you agree to The Information’s Privacy Policy
The now-closed Cuberg laboratory in San Leandro, Calif. Photo: Courtesy Northvolt
The Electric

The Travails of Three Battery Startups Reflect the Industry’s Woes

By Steve LeVine · Sep 9, 2024 4:30am PDT
In May, a worker at the San Leandro, Calif., laboratory of next-generation battery developer Cuberg accidentally spilled alcohol solvent on a pile of scrap lithium metal. A fire broke out, reaching the ceiling, and now-molten lithium burned a 5-inch crater in the floor. Overhead sprinklers sent a spray of water over the interior of the facility,... In May, a worker at the San Leandro, Calif., laboratory of next-generation battery developer ...
An Electric Era charging station at Seven Feathers Truck & Travel Center in Canyonville, Ore. Photo: Courtesy Electric Era.
The Electric

The Electric: Battery Charging Executive Urges Biden to Go Easier on China

By Steve LeVine · Sep 5, 2024 4:30am PDT · 1 comment
Late this month, Quincy Lee plans to inaugurate a fast-charging station for electric vehicles outside a new Costco in Ridgefield, Wash. The station will have six charging ports, powered by Chinese-made batteries, allowing it to quickly charge from 50 to 100 EVs per day. Late this month, Quincy Lee plans to inaugurate a fast-charging station for electric vehicles...
Volkswagen has bought almost 20% of QuantumScape for $300 million. Photos: Getty; Shutterstock
The Electric: Will VW’s $21 Billion Investment Spree Produce Winning EVs?
By Steve LeVine · Sep 2, 2024 4:30am PDT · 3 comments
Volkswagen has bought almost 20% of QuantumScape for $300 million. Photos: Getty; Shutterstock
The Electric

The Electric: Will VW’s $21 Billion Investment Spree Produce Winning EVs?

By Steve LeVine · Sep 2, 2024 4:30am PDT · 3 comments
In 2022, Volkswagen’s board fired chair Herbert Diess after a rocky tenure in which, while pushing employees to move fast into the electric vehicle age, he reportedly angered powerful German labor leaders and regional government officials. The last straw, analysts said, was the failure of a core Diess project—internally designed software that... In 2022, Volkswagen’s board fired chair Herbert Diess after a rocky tenure in which, while...
A production line for Amprius' silicon-based batteries. Photo: Courtesy Amprius
The Electric

The Electric: A U.S. Silicon Battery Startup Exploits China’s Excess Production Capacity

By Steve LeVine · Aug 29, 2024 4:00am PDT
Kang Sun, CEO of Amprius Technologies, has contracted with three factories in China to pump out the California company’s silicon-based batteries. But on Wednesday, he was looking for a fourth in the Taiwanese capital of Taipei, in part to qualify for tax credits under the U.S. Inflation Reduction Act. Kang Sun, CEO of Amprius Technologies, has contracted with three factories in China to pump out...
Industrial conglomerate Huntsman Corp. says it halted a $50 million battery investment after Chinese companies flooded the market with the component it planned to manufacture. Photo: Courtesy Huntsman.
The Electric

The Electric: A Battery Chemical Company Falls Victim to the China Playbook

By Steve LeVine · Aug 26, 2024 4:30am PDT
In 2021, Peter Huntsman, CEO of industrial conglomerate Huntsman Corp., decided to invest $50 million in the expansion of a chemicals plant in Conroe, Texas. The move would significantly boost the plant’s production of ethylene carbonate, an essential ingredient in the batteries that power electric vehicles, at the time viewed as a juggernaut of... In 2021, Peter Huntsman, CEO of industrial conglomerate Huntsman Corp., decided to invest $50...
The Electric Newsletter
An exclusive publication covering the nascent battery and electric vehicle revolutions.
By providing your email, you agree to The Information’s Privacy Policy
Former Cuberg CEO Richard Wang, who was let go in February. Photo: David Paul Morris/Bloomberg/Getty
The Electric

The Electric: The Death of Cuberg Reflects a Battery Industry Shakeout

By Steve LeVine · Aug 22, 2024 4:30am PDT
Northvolt’s decision this week to shut down Cuberg, its lithium-metal battery division, is another dramatic sign of a shakeout in the next-generation battery industry—a business that was so hot a few years ago that it seemed almost any startup could attract venture investment. It’s the second U.S. lithium-metal battery startup to fail in the... Northvolt’s decision this week to shut down Cuberg, its lithium-metal battery division, is...
Gerard Barron, CEO of The Metals Co. Photo: Carolyn Cole/LA Times/Getty
The Electric: Low Metals Prices Be Damned, Startups Race to Mine Under the Sea
By Steve LeVine · Aug 19, 2024 4:30am PDT
Gerard Barron, CEO of The Metals Co. Photo: Carolyn Cole/LA Times/Getty
The Electric

The Electric: Low Metals Prices Be Damned, Startups Race to Mine Under the Sea

By Steve LeVine · Aug 19, 2024 4:30am PDT
Ignoring rock-bottom prices and a glut of the metals used in electric vehicle batteries, startup mining companies around the world are pushing ahead with plans to vacuum the seabed for nodules containing cobalt, copper, manganese and nickel. Ignoring rock-bottom prices and a glut of the metals used in electric vehicle batteries, startup...
Battery industry veteran Bart Riley. Photo: Courtesy Bart Riley.
The Electric

Exclusive From The Electric: Why Has QuantumScape Moved to Seize the Home of Its Former Chief Strategy Officer?

By Steve LeVine · Aug 15, 2024 4:30am PDT · 2 comments
In the bizarre climax of a four-year legal dispute over stock options, next-generation battery developer QuantumScape has moved to seize the home of its former chief strategy officer to cover $1.1 million in lawyer fees it says it racked up in the case. In the bizarre climax of a four-year legal dispute over stock options, next-generation battery...
Qichao Hu, founder and CEO, lithium metal battery developer SES AI. Photo: Courtesy SES.
The Electric

Exclusive From The Electric: In a ‘Come to Jesus’ Moment, SES Bows Out of Sole Manufacturing

By Steve LeVine · Aug 12, 2024 4:30am PDT
In recent months, Qichao Hu, CEO of Massachusetts-based lithium-metal battery developer SES AI, had a “come to Jesus moment,” he said. After 12 years of work, the company’s battery was nearly ready for large-volume production. But Hu was anxious: How would tiny SES, which had never manufactured a commercial battery, compete with the world’s... In recent months, Qichao Hu, CEO of Massachusetts-based lithium-metal battery developer SES AI,...
Albemarle CEO Kent Masters. Photo: Bloomberg/Getty
The Electric

The Electric: Outcompeted by China, Battery Makers Seek More U.S. Largesse

By Steve LeVine · Aug 8, 2024 4:30am PDT
U.S. battery component and metals suppliers—increasingly doubtful about their ability to compete with low-cost Chinese rivals—want greater federal subsidies and tighter restrictions on U.S. support to Chinese companies. The lobbying push will likely raise tensions with U.S.-based automakers, which need Chinese-made materials to make their... U.S. battery component and metals suppliers—increasingly doubtful about their ability to compete...
The Electric Newsletter
An exclusive publication covering the nascent battery and electric vehicle revolutions.
By providing your email, you agree to The Information’s Privacy Policy
Photo by Getty
The Electric: No Longer Propelled by Tesla, the EV Industry Retreats Faster
By Steve LeVine · Aug 5, 2024 4:30am PDT
Photo by Getty
The Electric

The Electric: No Longer Propelled by Tesla, the EV Industry Retreats Faster

By Steve LeVine · Aug 5, 2024 4:30am PDT
In February, Tesla CEO Elon Musk shelved plans to release a $25,000 electric vehicle—the company’s first EV for mainstream customers—next June. Musk said he wanted to prioritize the development of the autonomous Robotaxi, but his decision has had a much wider impact, helping to throw the nascent EV industry into reverse. In February, Tesla CEO Elon Musk shelved plans to release a $25,000 electric vehicle—the company’...
Like most of the West's other next-gen battery makers, Sweden's Northvolt is struggling to scale production. Photo: Shutterstock.
The Electric

The Electric: The Clock Ticks for Next-Gen Western Battery Startups

By Steve LeVine · Jul 29, 2024 4:30am PDT
Four years ago, a flurry of Western next-generation battery-manufacturing startups caught the attention of investors, promising to lead a transformation of electric vehicle propulsion that would make the cars go longer distances and charge faster. Today, though, almost all these companies have vastly narrowed their ambitions or seem to be in... Four years ago, a flurry of Western next-generation battery-manufacturing startups caught the...
Photo: Bloomberg/Getty
The Electric

The Electric: The Case for Tesla Not to Make Robotaxis

By Steve LeVine · Jul 25, 2024 4:30am PDT · 1 comment
Sales of Tesla’s electric vehicles are falling, its profit margins are shrinking and investors show little near-term faith in CEO Elon Musk’s plan for deploying autonomous Robotaxis. Tesla shares fell 12% Wednesday, one day after a lackluster second-quarter earnings report, trimming what had been a 73% runup since late April. Sales of Tesla’s electric vehicles are falling, its profit margins are shrinking and investors...
Photo: Alex Wong/Getty
The Electric

The Electric: Don’t Be Surprised to See Chinese EVs Manufactured in the U.S.

By Steve LeVine · Jul 22, 2024 4:30am PDT
The two most recent U.S. presidents have been hostile to electric vehicles and batteries from China, with the Biden administration slapping big tariffs on Chinese carmakers to keep their products out of the U.S. But in a surprising turnabout, support in the U.S. and Europe is now growing for welcoming local Chinese EV and battery manufacturing,... The two most recent U.S. presidents have been hostile to electric vehicles and batteries from...
Photo: Marc Piasecki/Getty
The Electric: Musk’s Bet on Trump Follows a Pattern of Tycoons Diving Into Politics
By Steve LeVine · Jul 18, 2024 4:30am PDT · 4 comments
Photo: Marc Piasecki/Getty
The Electric

The Electric: Musk’s Bet on Trump Follows a Pattern of Tycoons Diving Into Politics

By Steve LeVine · Jul 18, 2024 4:30am PDT · 4 comments
In 1996, a half-dozen Russian tycoons known as the oligarchs put their fortunes and media companies behind then-President Boris Yeltsin’s faltering reelection effort, and helped turn around his campaign: Yeltsin handily beat the Communist Party candidate, and went on to reward the oligarchs with prime pieces of the Russian economy. In 1996, a half-dozen Russian tycoons known as the oligarchs put their fortunes and media...