This Week in Batteries: U.S.A & G.B. BESS, Tesla, Lithium Americas, and More.

Market Insights

- APC US BESS installations surged in 2023 with 96% increase (Link )

- Modo Energy released data confirming a 47% increase in weekly BESS dispatched volume on the grid in Great Britain (Link )

Competitive Intelligence

- Tesla to raise prices on Model Y electric vehicles in parts of Europe (Link )

- Nissan and Honda partner on EV manufacturing to compete with global rivals (Link )

- Rivian EVs now have inclusive access to Tesla Supercharger network, +15,000 chargers (Link )

- Nio and CATL partner on developing longer life batteries (Link )

- 24M Technologies introduces new recycling process for its SemiSolid EV batteries (Link )

- Pham Nhat Vuong, founder of VinFast, launching global EV charging venture, V-Green (Link )

- Xpeng to launch cheaper EV brand amid fierce China price competition (Link )

- VinFast enters Africa EV market via Ghana distributor (Link )

- Ford plans affordable small electric pickup and SUV, starting around $25K (Link )

- VW to begin producing $20K ID.1 EV in 2027 (Link )

- Canoo gets Foreign Trade Zone status for its OKC EV facility (Link )

- Mercedes-AMG previews new EV supercar testing (Link )

Regulatory Landscape

- Yellen says US aims to ensure domestic EV maker success as China boosts exports (Link )

- Trump announced that he would apply a tariff of 100% to cars built in Mexico by Chinese companies for U.S.-market sale—effectively double the previous tariffs he had seeked to apply (Link )

- India anticipates it would drastically cut import duties on certain EVs for manufacturers who invest at least $500MM to produce their cars in the country (Link )

- DOE will unveil final rules that will significantly soften its proposal that would have slashed EV mileage ratings to meet government fuel economy requirements in 2027 (Link )

- Richard Clark of Appian Capital Advisory states that the Inflation Reduction Act doing well versus EU Green Deal because of ‘how easy it is to understand’ (Link )

Financial Transactions

- Lithium Americas secures $2.26B from ATVM LPO to finance 40 ktpa Thacker Pass lithium project (Link )

- Fisker to raise upto $150MM by selling convertible notes, pauses production (Link )

- DOE invests $44MM in 11 projects to advance a clean, reliable electric grid (Link )

- Eos Energy Enterprises, ESS Inc, and Energy Vault have increased their revenues and narrowed losses in progressing toward profitability (Link )

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