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 […]
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
Lyten buys battery manufacturing assets from beleaguered Northvolt Read More »
In the lithium-ion battery world, the race to the bottom isn’t as ominous as it sounds. Battery manufacturers are under pressure from automakers to lower prices while maintaining or improving performance. They’ve largely delivered, with battery pack costs dropping from $780 to $139 per kilowatt-hour over the last decade, according to BNEF. That’s allowed electric
GM-backed Addionics aims to make lithium-ion batteries cheaper with wavy foil Read More »
Hannah Sieber knows just how transformative batteries can be. At her previous startup, EcoFlow, she used them to replace generators, whether for powering homes after a bad storm or RVs at a campsite. The experience made her wonder what else batteries could do, especially smaller ones. “What are the other industries that could dramatically change?”
Cold shipping might be the next industry that batteries disrupt Read More »
All cars suffer when the mercury drops, but electric vehicles suffer more than most as heaters draw more power and batteries charge more slowly as the liquid electrolyte inside thickens. Drivers in Chicago found this out the hard way last January after many Teslas failed to charge during a deep freeze. One startup, South 8
Porsche invests in battery startup South 8 to boost cold-weather EV performance Read More »
