The Elements of Innovation Discovered
The Elements of Innovation Discovered
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In another deal to secure the raw materials it needs to produce enough Ultium batteries to power up to 1 million electric vehicles per year by 2025, General Motors struck a multi-year agreement to purchase cobalt from Glencore's Murrin Murrin operation in Western Australia. A rare and critical metal, cobalt plays an important role in improving the energy density and longevity of the lithium-ion batteries powering EVs. "Future facing commodities like cobalt play a pivotal role...
Adding to a growing list of deals to source the materials and components needed for its vision to get everybody in on its transition to an all-electric future, General Motors is working with POSCO Chemical to develop a roughly $400 million plant in Quebec to produce cathode active material for Ultium batteries that will power GM electric vehicles such as the Chevrolet Silverado EV, GMC HUMMER EV, and Cadillac LYRIQ. Planning to have the capacity to build 1 million electric...
In its race toward becoming North America's electric vehicle market leader by 2025, General Motors Co. has unveiled plans to invest roughly $7 billion in new lithium-ion battery and EV manufacturing facilities in Michigan, the single largest investment ever by the American automaker. "Today we are taking the next step in our continuous work to establish GM's EV leadership by making investments in our vertically integrated battery production in the U.S., and our North American...
With the global transition to electric vehicles charged with renewable energy creating massive new demands for rare earth materials and magnets, copper, and electrical steel, General Motors and GE Renewable Energy are working together to evaluate opportunities to improve supplies of the materials critical to a low-carbon future. "A secure, sustainable and resilient local supply chain for electric vehicle materials is critical to the execution of GM's vision of an all-electric...
Early last year, the U.S. Department of Energy launched three separate award programs to fund domestic private companies in developing nuclear reactors in the United States. Congress appropriated US$230 million to kick off this series of investments and through a cost-sharing partnership the DOE, will award amounts to private companies while expecting to invest close to US$4 billion over seven years with the partners providing at least 20% in matching funds. "All of these proj...
TerraPower, a nuclear innovation company co-founded by Bill Gates, and GE Hitachi Nuclear Energy are developing a hybrid nuclear reactor and energy storage system specially designed to be integrated with renewable energy dominated power grids. While conventional nuclear power plants are excellent at delivering large and steady loads of carbon-free electricity into a power grid, they are not good at shifting their output to offset fluctuating outputs from solar and wind....
