EV

Corrupted Cop & Better News

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Cylindrical battery cells undergoing tests in the UK. Photographer: Jason Alden/Bloomberg

Thanks to Bill McKibben, in his newsletter–“A Corrupted COP New revelations show just how bad the oil countries really are“–for more details on this bad news but also for pointing us to better news that has implications for so much of the decarbonization opportunity set:

Battery Prices Are Falling Again as Raw Material Costs Drop

BloombergNEF breaks down the biggest annual drop in its lithium-ion battery price survey since 2018.

As the auto industry grapples with how to make affordable EVs, the task may get easier by one key metric. Battery prices are resuming a long-term trend of decline, following an unprecedented increase last year.

According to BloombergNEF’s annual lithium-ion battery price survey, average pack prices fell to $139 per kilowatt hour this year, a 14% drop from $161/kWh in 2022.1

Superbattery Explainer

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The Economist’s explanation (subscription required) is clear:

Superbatteries will transform the performance of EVs

Provided manufacturers can find enough raw materials to make them

Asked what they most want from an electric car, many motorists would list three things: a long driving range, a short charging time and a price competitive with a similarly equipped vehicle that has an internal-combustion engine. Continue reading →

EV Boom

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Ibrahim Rayintakath

At this point we should not be surprised but the momentum is still stunning:

Electric Vehicles Keep Defying Almost Everyone’s Predictions

It is striking that in the same year that Tesla’s stock price dropped by about two-thirds, destroying more than $700 billion in market value, the global market for electric vehicles — which for so long the company seemed almost to embody — actually boomed. Continue reading →

Great EV Expectations

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A Rivian R1T electric pickup truck at the company’s factory in Normal, Illinois. JAMIE KELTER DAVIS / BLOOMBERG VIA GETTY IMAGES

I had no reason to bet against Tesla until now, but I did wonder whether it was good for anyone (other than its shareholders) for that one company to dominate its market over the longer term. Now, happily, it looks like the market will do what we need it to do, which is get robust:

For U.S. Companies, the Race for the New EV Battery Is On

Spurred by federal mandates and incentives, U.S. manufacturers are pushing forward with developing new battery technologies for electric vehicles. The holy grail is a battery that is safer, costs less, provides longer driving range, and doesn’t use imported “conflict” minerals.

Sixteen years have passed since engineer Martin Eberhard unveiled his futuristic custom-designed sports car before a crowd of investors, journalists, and potential buyers in a Santa Monica Airport hangar. Continue reading →

Turning Point In USA’s Transition To Electric Vehicles

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General Motors has partnered with EVgo to deploy more than 2,700 fast chargers across the U.S. CREDIT: GM

John Paul MacDuffie and Sarah E. Light, both professors at the Wharton School of Business at the University of Pennsylvania, have published an article on Yale E360 highlighting the improving potential for electric vehicles to dominate the USA market sooner than previously expected:

EV Turning Point: Momentum Builds for U.S. Electric Vehicle Transition

Driven by GM, Tesla, and the Biden administration, the U.S. is now poised to press ahead in the transformation to electric vehicles. Big challenges still loom, but technological advances, government support, and growing consumer appeal will drive the inevitable switch to EVs.

Last month’s failure of the Texas electric grid, coming just weeks after General Motors’ pledge to make only electric vehicles by 2035, highlights the daunting task the United States faces as it takes the first steps toward weaning its economy off fossil fuels. Continue reading →