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Li-Cycle, at the New York Stock Exchange, August 11, 2021.

Source: NYSE

Battery recycling company Li-Cycle said Monday it’s secured a conditional $375 million loan from the Department of Energy to develop a recycling facility for key battery materials near Rochester, New York.

For lithium-ion batteries specifically, much of the focus has been on mining. While the U.S. has an abundance of lithium, getting it out of the ground is expensive, and projects frequently face local opposition.

The price of lithium has eased back from record levels hit earlier this year, but in the last three years prices are still up more than 800%. The rapid appreciation comes as some believe there simply won’t be enough supply to meet growing demand from electric vehicles.

The Rochester facility will significantly expand Li-Cycle’s reach. The company currently has four plants in North America where it processes battery materials. But the new plant will be able to take it one step further, turning the recycled product into materials that can be used for future batteries.

When fully operational, the plant will recycle up to 200,000 vehicles’ worth of lithium-ion batteries annually, according to the company. From that, the site will produce 8,500 tonnes of lithium carbonate as well as nickel sulphate and cobalt sulphate.

Monday’s announcement comes amid the United States’ push to develop domestic manufacturing and supply chains for materials and technologies critical to the energy transition. The incentives and credits in the Inflation Reduction have fueled a frenzy of announcements from companies looking to jumpstart operations on U.S. soil.

Earlier this year the Department of Energy announced a conditional loan of up to $700 million for miner Ioneer to develop the Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada.

But Li-Cycle co-founder and CEO Ajay Kochhar said recycling will also play a key role.

“Recycling is an unappreciated, or not as appreciated, alleviator of that supply need,” he told CNBC. “I think of course we need both primary, meaning mine sources, and secondary…every unit counts of lithium, nickel, cobalt. I think with the overlay of the IRA and the overlay of the corporate targets around sourcing for these materials, recycling is going to be very important.” 

Kochhar forecasts that in the next 10 years the recycling industry could meet between 10% and 20% of demand for battery-grade lithium, nickel and cobalt. Thirty years down the line he believes recycling will be a “very significant portion of demand,” potentially meeting more than 50%.

“Everybody’s scrambling to get units. Every unit counts. Being an alleviator – a domestic source, a cleaner source, is super helpful to our customers,” he added.

If approved the loan, which is subject to certain conditions, will be made under the DOE’s Advanced Technology Vehicles Manufacturing program. Li-Cycle said it expects the loan to close during the second quarter, with the company planning to initiate commissioning of the Rochester facility late this year.

Li-Cycle was founded in 2016, and went public in August 2021 through a SPAC. The company has received strategic investments from Glencore, Koch Strategic Platforms and LG Chem.

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Peak Energy’s $500M deal will deploy the world’s largest sodium-ion battery system

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Peak Energy’s 0M deal will deploy the world’s largest sodium-ion battery system

Burlingame, California-based Peak Energy just scored a huge win for sodium-ion batteries. The company announced a multi-year deal with utility-scale battery storage developer Jupiter Power to supply up to 4.75 GWh of sodium-ion battery systems between 2027 and 2030.

Under the agreement, Peak will deliver 720 MWh of storage in 2027 – the largest single sodium-ion battery deployment announced so far. The deal also includes an option for an additional 4 GWh of capacity through 2030, bringing the total contract value to more than $500 million.

Sodium-ion vs. lithium-ion

Peak Energy says its sodium-ion batteries degrade less over time and have lower operations and maintenance costs than lithium-ion systems. Because the batteries don’t degrade as quickly, operators don’t need to add more capacity later in a project’s life to maintain performance. They also use a fully passive cooling system that eliminates pumps, fans, and other components used in lithium-ion setups, reducing maintenance and safety risks.

The company claims its grid-scale sodium-ion system uses up to 97% less auxiliary power, offers about 30% better cell degradation performance over 20 years, and comes with a lower total cost of ownership.

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Why this deal matters

The agreement marks a significant step forward for the emerging sodium-ion sector, which has been gaining momentum as a safer and lower-cost alternative to lithium-ion for long-duration and grid-scale energy storage. It also underscores the growing effort to build a domestic sodium-ion battery supply chain in the US.

“From day one, we’ve believed sodium-ion will be the winning technology for grid-scale storage, which is essential to meet rising demand from hyperscalers and AI,” said Landon Mossburg, Peak Energy’s CEO and cofounder. “Deploying the world’s largest sodium-ion energy storage system with one of the nation’s top independent power producers proves that sodium is ready for today and will dominate the future.”

Mike Geier, CTO at Jupiter Power, said the company is “excited to support domestic battery energy storage manufacturing as we continue to increase the deployment of firm, dispatchable energy when and where it’s most needed,” and called Peak’s approach to sodium-ion “a potential game changer for the industry.”

Read more: The US’s first grid-scale sodium-ion battery is now online


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The new 2026 Lexus ES is an upgrade in just about every way [Video]

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The new 2026 Lexus ES is an upgrade in just about every way [Video]

Lexus claims the new ES “takes sedan styling, luxury, and refinement to a higher level” with a complete redesign. With the 2026 ES arriving soon, Lexus offered a closer look at the upgrades inside and out.

The new 2026 Lexus ES debuts in EV and hybrid forms

The eighth-gen ES is bringing more than a sharp new style. Lexus overhauled its flagship sedan from the ground up for the 2026 model year, which will include battery electric (BEV) and hybrid (HEV) powertrain options.

Inspired by the radical LF-ZC show car, the 2026 ES has been fully redesigned with what Lexus calls the “Experience Elegance and Electrified Sedan” concept, aimed at further refining the driving experience.

The new design centers on a redesigned “spindle body” that extends from the hood to the bumper. It also features a redesigned grille, replacing the signature Lexus spindle grille as the brand looks for a new identity in the electric era.

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Inside, the new 2026 ES features the latest version of the Lexus Interface multimedia system. The setup includes a 14″ touchscreen with wireless Apple CarPlay and Android Auto, and a 12.3″ driver display cluster.

new-2026-Lexus-ES-EV
The 2026 Lexus ES 350e (Source: Lexus)

Based on the redesigned TNGA GA-K platform, the new ES will be available in battery electric (BEV) and hybrid (HEV) powertrains for the first time.

The 2026 Lexus ES lineup consists of two models: the ES 350e, a front-wheel-drive (FWD) model, and the ES 500e, an all-wheel-drive (AWD) model.

2026-Lexus-ES-EV-interior
The 2026 Lexus ES 350e interior (Source: Lexus)

Lexus expects the ES 350e to have a driving range of 300 miles when fitted with 19″ wheels, while the ES 500e has an estimated driving range of 250 miles.

Both the ES 350e and 500e feature a built-in NACS port to recharge at Tesla Superchargers. Using DC fast charging, it can recharge from 10% to 80% in about 30 minutes under “ideal conditions,” according to Lexus.

With its debut just around the corner, Lexus offered a closer look at the new 2026 ES inside and out in a new video.

Lexus has yet to announce prices, but the redesigned ES is expected to start at about $45,000 to $50,000, or slightly more than the outgoing model.

After launching the upgraded RZ earlier this month, Lexus said the ES would be next. It’s expected to go on sale in Spring 2026.

What do you think of the redesigned 2026 ES? Do you like the new Lexus design? Let us know your thoughts in the comments below.

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Tesla launches new Model Y+ with 510 miles (821 km) of range

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Tesla launches new Model Y+ with 510 miles (821 km) of range

Tesla has launched a new version of the Model Y in China, and it’s achieving an impressive new range rating – thanks to a new battery cell from South Korea’s LG.

The new variant, a five-seat, rear-wheel drive long-range model, has been released with an 821-km range based on China’s CLTC standard.

While the CLTC rating is known to be optimistic, 821 km (about 510 miles) is an impressive number and the longest range Tesla has offered in its Model Y lineup to date, which is going to help it be more competitive in the Chinese market.

This new extended range Model Y version is made possible by using the 78.4-kWh ternary lithium-ion battery pack from LG Energy Solution, the same pack found in the also recently launched 830-km range Model 3 variant.

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The new long-range RWD Model Y starts at RMB 288,500, which translates to just over $40,500 USD.

The launch comes at a critical time for Tesla in China, which has seen its sales slump in recent months. The automaker recorded its lowest monthly sales in October since November 2022, falling out of the top 10 list for new energy vehicle (NEV) sales.

That’s despite a continued surge in electric vehicle sales in China. Tesla is not benefiting from it amid strong competition.

According to local Chinese media reports, the new 821-km Model Y is already gaining traction with some anecdotal reports of enthusiasm at Tesla stores.

The reports are partly supported by Tesla quickly extending delivery timelines from 2-4 weeks to 4-6 weeks just hours after launch.

Electrek’s Take

I think this is going to be suitable for a decent short-term bump in demand, but it’s still on the expensive side for the Chinese market.

For example, now the Model Y beats the Xpeng G6’s max range of 755 km, but the G6 with this range costs 234,900 RMB (approximately $32,900 USD), which is significantly cheaper.

Every 10,000 RMB tranche lower means a lot more demand in China.

Tesla needs to launch its new “standard” versions to start making a difference with demand long term in China.

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