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General Motors strikes a deal to source lithium in the US for its electric car batteries

The Verge

General Motors has struck a deal with a mining company to source lithium, a key ingredient in electric-car batteries, from geothermal deposits in the US. It’s a risky bet by GM, given that there is no full-scale lithium production in the US from geothermal wells. ld rush”.

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Salty, subterranean water could relieve world’s lithium shortage

TechCrunch

The next bottleneck in lithium-ion battery supplies isn’t cobalt, even though China has a stranglehold on the market, and it’s not nickel, either, despite nickel prices nearly doubling in the past five months. But there’s no substitute for one crucial component of these batteries: Lithium. The crunch.

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DuPont and VCs see lithium mining as a critical investment for the electric future

TechCrunch

One of the key target resources is lithium, a critical component for smartphones, electric vehicle batteries and nearly every other electric tool of modern convenience and industrial import. Other solutions to the lithium problem are attracting investor attention, too.

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Apple will use Tesla’s ‘megapack’ batteries at its California solar farm

The Verge

The construction site of the energy storage project at the California Flats solar farm. Apple announced Wednesday that it’s building a big battery storage project at a Northern California solar farm it spearhead in 2015. The project was quietly approved last year. Image: Apple.

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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.

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Ford halts work on $3.5B EV battery factory with China’s CATL

TechCrunch

billion factory in Michigan that was supposed to make cheaper lithium iron phosphate batteries using tech from China’s CATL. “We’re pausing work and limiting spending on construction on the Marshall project until we’re confident about our ability to competitively operate the plant,” Ford spokesperson […]

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Vanadium ion battery startup Standard Energy raises $8.9M Series C from SoftBank Ventures Asia

TechCrunch

The South Korea-based company says its batteries’ advantages over lithium ion include less risk of ignition and the ease of sourcing vanadium. The latter is an important selling point, as electric vehicle makers face a potential shortage of lithium ion batteries. VIB cannot be as compact as lithium ion.

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