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CATL to report record profit in 2024 despite revenue decline amid lithium price slump

TechNode

Why it matters: Despite this, CATL warned it might end the year with a revenue decline for the first time since it started releasing its financial figures in 2015, due to the lithium price squeeze that has been shaking up the industry since hitting its peak in late 2022. Its sales volume grew a bit last year, according to a securities filing.

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Exclusive look at patent filings reveals Our Next Energy’s plans for a no-compromise EV battery pack

TechCrunch

At the same time, existing lithium-ion battery technology is improving, just not fast enough. As automakers bet their futures on electric vehicles, they’re beginning to confront the hard realities of economics and physics. Prices for nickel and cobalt, two key elements used in EV batteries today, have skyrocketed, far outpacing inflation.

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Fisker quietly settled trade secret spat with VW-backed battery company

The Verge

The suit, filed in April 2019 in Santa Clara Superior Court, was centered on a former QuantumScape employee who brought thousands of confidential documents with her to a new job at Fisker Inc. at the EV startup’s Torrance, California headquarters to attend its holiday party, according to court filings. Fisker Inc. Fisker Inc.

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Fisker hits snag in deal to use Volkswagen’s EV platform

The Verge

In a scripted presentation to investors filed with the Securities and Exchange Commission (SEC) early Friday morning, founder Henrik Fisker says his company has “not achieved our goal of signing a cornerstone agreement with VW by the end of July 2020 as we previously anticipated.” The script was filed with the SEC by Spartan.

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China’s GAC sells portion of battery unit stake following losses

TechNode

billion in the fiscal year of 2024, the automaker said in a filing on Tuesday. GAC, a manufacturing partner of Toyota and Honda in China, is also making affordable iron-based lithium-ion batteries with another wholly-owned subsidiary, Inpai Battery Technology Co., GAC filing , in Chinese] in the battery maker after the RMB 1.3

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Fisker wants to use Volkswagen’s EV platform to power its electric SUV

The Verge

The presentation was one of many pages of documents filed with the Securities and Exchange Commission by the publicly listed company Fisker Inc. Fisker Inc. plans to merge with , Spartan Energy Acquisition Corporation, which was formed by investment firm Apollo Global Management.

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TechCrunch+ roundup: Find your valuation, international visas, hiring for growth

TechCrunch

Investors are affluent, and founders will weather this storm just fine, but in downturns like these, rank-and-file employees are the first to feel any pain. For many tech workers, this is the first time they’ve experienced real uncertainty.