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BEIJING, Feb 19 (Reuters) – China invested 6.8 trillion yuan ($940 billion) in clean energy in 2024, approaching the $1.12 trillion in global investment in fossil fuels, according to a new analysis for U.K.-based research organisation Carbon Brief. That was despite growth in China’s clean energy investments slowing to 7% from 40% in 2023 amid …
The battery maker’s bankruptcy lawyer argued in a letter to creditors that Chapter 11 processes cover all countries Bloomberg News The steps to recover claims “violate United States federal law and an order from the U.S. Bankruptcy court,” Christopher T. Greco, a lawyer for Kirkland & Ellis LLP, wrote in the letter seen by newspaper …
Northvolt Threatens to Sue Creditors Over Seized Funds Read More »
The L.A. wildfires have taken at least 27 lives and destroyed thousands of homes As the smoke clears from devastating Los Angeles wildfires, efforts to clean up the affected areas are being complicated by burnt-out electric and hybrid vehicles and home-battery storage systems. Lithium batteries from Tesla Inc., along with those from other carmakers, have …
Burning Teslas Add to Toxic Pollution Delaying L.A. Return Read More »
Global energy storage capacity has tripled in recent years, thanks to an industry that barely existed a decade ago. Illustration: Jay Daniel Wright for Bloomberg Businessweek By David R Baker Inside an unmarked stucco building in a Silicon Valley office park, more than 1,000 black metal cabinets, each about the size of a fridge, line …
Giant Batteries Are Transforming the World’s Electrical Grids Read More »
As of late Thursday, a few dozen people were at a temporary evacuation centre This image from video shows flames rising after a major fire erupted Thursday afternoon at the Moss Landing Power Plant, located about about 124 kilometres south of San Francisco, Thursday, Jan.16, 2025. Photo by KSBW via AP MOSS LANDING, Calif. — …
Fire at Massive Battery Plant in California Forces Evacuations Read More »
By Gavin Maguire LITTLETON, Colorado, Jan 9 (Reuters) – Texas is dominating the development of renewable energy generation and battery capacity within the United States, and is estimated to have installed nearly 80% more combined solar, wind and battery capacity than the next largest state. The Lone Star state has 42,000 megawatts (MW) of wind …
Texas Tops US States for Renewable Energy and Battery Capacity Read More »
(Reuters) – It’s been a brutal year to be in the battery metals business. Prices of lithium, nickel and cobalt collapsed in 2023 and have continued grinding steadily lower over the course of 2024. A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite …
Electric Dreams Turn into a Nightmare for Battery Metals Read More »
Started clock ticking on Chapter 11 filing by EV battery maker For Northvolt AB, the Swedish startup that became a poster child for Europe’s electric-driving future, the route to collapse started in June when BMW AG cancelled a multi-billion-dollar order. Back then, few saw the significance of the move, which effectively started a countdown that would culminate …
Looking Under the Hood: Northvolt Collapse Countdown Started with BMW Order Cancellation Read More »
Summary Northvolt co-founder urges EU not to give up EV battery dream Firm has filed for bankruptcy protection, needs $1.0-$1.2 bln EU hopes hit by weak EV sales, production issues, China strength (Reuters) – Northvolt’s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring …
Northvolt Crisis May be Make or Break for Europe’s EV Battery Ambitions Read More »
Worked with Elon Musk at Tesla before heading up Swedish EV battery maker Bloomberg News Northvolt AB chief executive Peter Carlsson is stepping down as the Swedish battery maker embarks on a restructuring under bankruptcy court protection. Carlsson, a co-founder of Northvolt, has led the electric-vehicle supplier since its inception in 2016. He raised billions …
Northvolt CEO Peter Carlsson Quits After Bankruptcy Filing Read More »
