Battery cost makes affordable Toyota EV unlikely, exec says

Toyota Urban SUV ConceptAn entry-level Toyota EV is unlikely in the near future due to high battery costs, an executive said in a recently published interview with Autocar. Some automakers are launching small, affordable EVs for the European market, but Toyota currently has no plans to follow them, Andrea Carlucci, the automaker's European development boss, said. That's...

Report: China leads in EV recycling, creating a circular economy

Volkswagen battery recyclingChina is leading the U.S. and Europe on EV battery recycling, according to a new Bloomberg report, and it may add to China's EV advantages in the future. The battery-recycling business in China is booming, according to the report, which cites data from consultancy Circular Energy Storage showing that "the nation dominates when it comes to...

Will reengineered battery packs for Rivian R1S, R1T lower prices?

Rivian R1T, green, vs. Rivian R1S, silverRivian is developing a simplified battery-pack structure for its R1S electric SUV and R1T electric pickup truck, CFO Claire McDonough said in a recent interview. Around the 14-minute mark in the roughly 40-minute interview, conducted during Barclays' 2023 Global Automotive & Mobility Tech Conference (and first spotted by Electrek), McDonough...

DOE rules on foreign content could cut tax credit on some EVs

Stack of Rivian battery cellsThe Department of Energy (DOE) on Friday issued proposed guidance on foreign battery content in EVs that could cut the federal tax credit for some models. But it also provides a clearer picture for automakers and battery suppliers. Starting Jan. 1, EVs are ineligible for the federal tax credit of up to $7,500 if they have key battery components...

Could a glut of lithium supply spur an EV price war?

Lithium SaltsMarket experts are carefully watching a drop in lithium prices—and what impact that could have on EV costs—according to a new Bloomberg report. Lithium's benchmark price in China—the world's largest new-car market and a center for battery production—is down about 80% from its November 2022 record high, the report noted...

Volvo and Polestar parent signs up for EV battery swapping with Nio

Nio PowerChinese automaker Geely—parent company of Volvo, Polestar, and Lotus—has signed an agreement with Nio to use the latter's battery-swapping tech in the Chinese market. Under the agreement, the two companies "co-develop two battery swapping standards for private cars and commercial vehicles," promote adoption of the technology, and scale...