⛏️🧂🗿Dig Deep. Lithium producers warn that due to mine permitting delays, staff shortages, and inflation, they may struggle to meet escalating demand driven by aggressive EV plans. Lake Resources and Albemarle, the world's largest lithium producer, project a shortage of lithium supplies.
Think Salty. However, China's CATL is developing sodium-ion batteries that offer a cheaper, more abundant, and safer alternative to lithium-ion, expected for production in 2023.
Get Solid. Meanwhile, Toyota, Nissan, and Tesla are working on solid-state batteries that are smaller, lighter, charge faster, and have more range. Toyota's Lexus LFA is expected to be the first EV with this technology.
Who knows, we may be driving cars with canvas sails this time next year.
✂️💰🤷♀️Discounts aren't everything. China extends EV tax incentives until 2027 amid slow economic growth. Despite projected consumer savings of $72.43 billion, adoption faces hurdles from mileage anxiety and inadequate charging infrastructure. Experts emphasize the need for widespread, affordable charging stations to bolster sales. Beijing pushes for increased support for new energy vehicles.
Investing in eggs when you need a better basket. Classic mistake.
📈🏦💵More money! Ford received a $9.2 billion loan from the U.S. Department of Energy to support the construction of three EV battery factories, marking the biggest governmental support to an automaker since the 2009 bailouts.
📉👷😔Fewer jobs? Concurrently, amid transitioning to EVs and aiming to cut $3 billion in costs by mid-decade, Ford is preparing for another round of layoffs affecting employees across its divisions.
Each of these pieces of news are routine these days, but next to one another they sting.
🗡️🔌🚗Cut the Cord? Tesla has shown interest in acquiring Germany-based wireless charging startup Wiferion, which could expedite the launch of Tesla's own EV wireless charger. Wiferion's expertise in inductive charging for industrial robots and electric vehicles can benefit Tesla's manufacturing process.
Call us old-fashioned, but lightning belongs in wires or clouds, not just floating around in the garage.