Category: Automotive

GM secures nickel for EV ramp-up from Vale’s new Quebec Battery Valley factory

GM and Vale announced that they have come to an agreement for the former to get a significant part of the nickel sulfate that Vale plans to produce at its upcoming new Quebec Battery Valley factory. There’s a region in Quebec around Bécancour, just outside of the city of Trois-Rivières, that people are starting to call… Continue reading GM secures nickel for EV ramp-up from Vale’s new Quebec Battery Valley factory

New York State is funding an EV-only consumer loan platform

EV seed-stage company Tenet, which offers consumer loans for EVs, today announced it has secured $25 million in a first-of-its-kind warehouse facility from NY Green Bank for EV loan financing that originates in New York State.  If you’re not familiar with the term warehouse financing, it’s “a form of inventory financing that involves a loan made by… Continue reading New York State is funding an EV-only consumer loan platform

Tesla lithium refinery project moves to private negotiations in Texas

Tesla is currently working on a lithium refinery project that would be coming to Corpus Christi, Texas, and it sounds like the automaker is in the final stretch of its negotiations with the authorities. In September, we learned that Tesla has a plan to build a lithium refining facility on the Gulf Coast of Texas.… Continue reading Tesla lithium refinery project moves to private negotiations in Texas

GM EV unit BrightDrop expects $1 billion in 2023 revenue, mass production of all-electric delivery vans to start in December

watch now BrightDrop CEO Travis Katz says he’s “charged up” about 2023 and the forecast for the General Motors EV unit to top $1 billion in revenue in 2023. The announcement, tied to General Motors’ investor day on Thursday, is the first time BrightDrop has released revenue numbers. The company did not release revenue data… Continue reading GM EV unit BrightDrop expects $1 billion in 2023 revenue, mass production of all-electric delivery vans to start in December

GM expects EV profits to be comparable to gas vehicles by 2025, years ahead of schedule

Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE General Motors expects its new electric vehicle profits to be in-line with cars and trucks with traditional engines by 2025 – years ahead of schedule and what many thought was possible. GM CEO Mary Barra on Thursday said the updated forecast factors in… Continue reading GM expects EV profits to be comparable to gas vehicles by 2025, years ahead of schedule