battery manufacturing

Nascent Materials emerges from stealth to make LFP batteries better and cheaper

Fundraising /

Lithium-ion batteries have dropped in cost by 75% over the past decade, a marvel of research and development that isn’t the result of a singular breakthrough but of myriad incremental improvements. Few know that better than Chaitanya Sharma, founder of the stealthy Nascent Materials. Sharma spent a little over two years working at Tesla’s Gigafactory […]

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GM’s new ‘manganese rich’ battery promises cheaper EVs in 2028

Climate /

General Motors revealed Tuesday a new battery chemistry called lithium-manganese-rich (LMR), which it says should slash costs while delivering driving range that’s just shy of the most advanced batteries on the market.  “With LMR, we can deliver over 400-mile range in our in our trucks while significantly reducing our battery costs,” Kurt Kelty, GM’s vice

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Coreshell has a plan to slash the price of American made batteries

Fundraising /

The electric vehicle transition is really a story about China. There, subsidies have helped juice not just automakers, but the entire battery supply chain behind them. Those incentives, plus decades of industrial policy focused on controlled critical mineral supply chains, has left American and European automakers flat footed. Take graphite, for example. Every lithium-ion battery

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Battery manufacturer Northvolt nears the end as it files for bankruptcy in Sweden

Transportation /

Northvolt filed for bankruptcy in Sweden on Wednesday, the latest blow to Europe’s attempts to create a battery manufacturing juggernaut that could rival the Chinese giants. Though the Swedish startup has raised more than $14 billion, it has been running short on cash recently. Northvolt had previously filed for Chapter 11 bankruptcy in the U.S. in

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Founder of battery startup Our Next Energy returns as CEO following new funding

Fundraising /

Just over a year after being replaced as CEO of the battery startup Our Next Energy (ONE), Mujeeb Ijaz is back at the helm. Alongside this news, the company announced the close of a new funding round led by Crescent Ventures and Trousdale Ventures. ONE did not release any details about the round’s size, nor

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Volkswagen slashes the value of its stake in Northvolt, the beleaguered battery manufacturer

Climate /

Volkswagen bet big on European-made batteries a few years ago with two massive investments in Northvolt, the Swedish manufacturer. Now, the automaker’s €1.4 billion stake is worth less than half that, according to Reuters. The write downs occurred throughout the current fiscal year as the situation at Northvolt deteriorated.  It’s unclear what Volkswagen’s current stake

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Battery unicorn Northvolt files for bankruptcy, co-founder and CEO resigns

Climate /

Beleaguered Swedish battery manufacturer Northvolt announced on Thursday that it was filing for bankruptcy in the U.S., striking a blow to Europe’s ambitions for homegrown lithium-ion batteries. The company reportedly chose Chapter 11 in an effort to right its finances. In the wake of the filing, co-founder and CEO Peter Carlsson resigned, though he’ll remain on

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Battery unicorn Northvolt files for bankruptcy, upending Europe’s industrial plan

Climate /

Beleaguered Swedish battery manufacturer Northvolt announced today that it was filing for bankruptcy in the U.S., striking a blow to Europe’s ambitions for homegrown lithium-ion batteries. The company reportedly chose Chapter 11 in an effort to right its finances.  Northvolt, which had soared for years on the back of strong fundraising and a string of

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Lyten buys battery manufacturing assets from beleaguered Northvolt

Climate /

Lyten, a Silicon Valley battery startup, announced today that it’s acquiring manufacturing assets from Northvolt, a Swedish battery manufacturer that’s facing a cash crunch. As part of the deal, Northvolt is selling manufacturing equipment the company inherited in its 2021 acquisition of Cuberg, another battery startup. Lyten will also assume the lease of Cuberg’s old

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Northvolt lays off 1,600 workers, but it’s not the end for Europe’s battery champion

Climate /

When is raising $14 billion not enough? When you’re a battery startup. Northvolt, Europe’s attempt at building a competitor to Asia’s battery manufacturing powerhouses, announced on Monday that it had halted work on a factory expansion and laid off 1,600 employees, or about 20% of the workforce. The company was planning to expand its Ett

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