General Motors announced that GM Ventures is leading a $50 million Series B financing round in EnergyX – a company specializing in direct lithium extraction and refinery technologies. As part of the investment, GM will help fund the commercialization of EnergyX’s sustainable extraction technology in exchange for lithium to be exclusively used for EV production.
Energy Exploration Technologies Inc., better known as EnergyX, is an American company founded in 2018 with the goal of delivering more sustainable and effective battery and energy storage solutions to our world.
The company has filed over 60 patents covering its array of technological breakthroughs, including its Lithium Ion Transport and Separation (LiTAS) portfolio, consisting of unique direct lithium extraction (DLE) methods. These sustainable processes utilize proprietary membranes, solvents, and adsorbents to optimize lithium recovery for Li-brine resource producers, intended to create a process that smoothly operates from “brine to battery.”
As one of the largest automakers in the US, GM is slowly but surely going all-electric. While it has yet to deliver many of the new BEV models it is advertising, those models are on the way, and there are even more in its production pipeline. This pivot toward an all-EV future will require the ongoing revamping of assembly lines and massive amounts of precious resources like lithium which are vital to current EV battery chemistry.
Under the new terms for EVs to qualify for the federal tax credits outlined in President Biden’s Inflation Reduction Act, now hardened by the US Department of Treasury’s new battery guidance, it’s more important than ever to reliably source battery components from North America.
GM appears to have found a partner in EnergyX, gaining exclusive access to local lithium supplies, but it also looks to fund the company’s development of more efficient and sustainable methods of extracting the precious element.
A chart demonstrating how EnergyX’s LiTAS refinery process compared to other methods / Credit: EnergyX
According to General Motors, its GM Ventures division, which invests in tech startups, is leading a $50 million funding round in EnergyX alongside other unnamed investors. The Series B funding round is focused on furthering EnergyX’s research and development relating to its DLE technology with the goal of unlocking the coveted supply of lithium in North America.
As you can see from the chart above, EnergyX’s extraction process can create lithium metal directly from brine that is potentially anode-ready to be implemented in EV batteries. The process is not only more sustainable but also more cost-effective. Add a localized supply chain, and it’s no wonder GM is investing in the prospect of gaining access to the lithium EnergyX may produce. EnergyX CEO Teague Egan spoke about his company’s technology:
The EnergyX team of scientists and engineers have worked relentlessly for five years developing cutting-edge DLE technology to solve the immense bottlenecks that have limited global lithium production and supply chain. This single bottleneck (a massive lithium shortage) is the biggest challenge to scaling EV production. We will unlock lithium supply in the U.S., a pivotal move in expanding the EV industry. There are many ways of gauging success, but few are more rewarding than the support of leaders like GM. We’re energized by GM’s investment and will keep a ‘Day 1’ attitude as we pursue our goal of making EnergyX the biggest lithium company in the world.
GM’s investment money comes with a conditional agreement with EnergyX that includes three key components pertaining to the potential lithium supply on the continent:
The two American companies will implement a technology development program to support the commercialization of EnergyX’s advanced DLE and refinery processes, potentially replacing traditional evaporation pond methods.
GM gets access to competitive lithium offtakes for its own exclusive use in EV production, including material sourced from North and South American mining companies contracted by EnergyX.
GM will provide additional financing for lithium production projects in North and South America, using EnergyX’s technology to drive potential supply chain opportunities for the automaker.
Last year, EnergyX became the first company to design and commission a successful, five-month, in-field pilot plant program in the “Lithium Triangle,” located along the Atacama Desert in South America. The company’s LiTAS technology can increase lithium recovery rates to over 90%, significantly higher than the current industry standard of 30-40% using ponds, and even got as high as 94% during the pilot trials.
With fresh funding led by GM, EnergyX now looks to scale those existing lithium extraction systems into new pilot plants across North and South America on its way to full-scale commercialization. GM’s vice president of global purchasing and supply chain Jeff Morrison also spoke about the new collaboration with EnergyX to obtain more lithium:
We are committed to securing EV critical minerals that are sustainable and cost competitive to maintain our leadership position among automakers. The investment in EnergyX is a further proof point of GM’s leadership position. EnergyX is developing a novel direct lithium extraction process that’s not only cost competitive but also will reduce energy, land and water usage as compared to the current extraction and processing process for brine-based lithium. We are excited to be partnered with EnergyX on their efforts.
EnergyX is currently in the process of erecting a new 40,000-square-foot facility in Austin, Texas, to headquarter its growing operation. Learn more about EnergyX and its proprietary approach to Lithium extraction in the video below:
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Credit where credit is due: in a massive, 32-car multinational independent test, Tesla’s Autopilot ADAS came out on top, the new affordable Tesla turns out to be a corner-cutting Model Y, and one of the company’s original founders compares the Cybertruck to a dumpster. All this and more on today’s episode of Quick Charge!
Today’s episode is brought to you by Retrospec – the makers of sleek, powerful e-bikes and outdoor gear built for everyday adventure! To that end, we’ve got a pair of Retrospec e-bike reviews followed up by a super cute, super affordable new EV from China with nearly 150 miles of range for less than $5,000 USD.
PLUS: listeners can get an extra 10% off by using code ELECTREK10 at retrospec.com!
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Tesla is again teasing the new Roadster, which is now five years late, as “the last driver’s car” before self-driving takes over.
The chicken or the egg. Is Tesla delaying the Roadster to match the development of self-driving technology, or is it delaying the development of self-driving technology to match the delayed release of the Roadster?
The prototype for the next-generation Tesla Roadster was first unveiled in 2017, and it was initially scheduled to enter production in 2020; however, it has been delayed every year since then.
It was supposed to achieve a range of 620 miles (1,000 km) and accelerate from 0 to 60 mph in 1.9 seconds.
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It has become a sort of running joke, and there are doubts that it will ever come to market despite Tesla’s promise of dozens of free new Roadsters to Tesla owners who participated in its referral program years ago.
Tesla used the promise of free Roadsters to help generate billions of dollars worth of sales, which Tesla owners delivered; however, the automaker never delivered on its part of the agreement.
Furthermore, many people placed deposits ranging from $50,000 to $250,000 to reserve the vehicle, which was initially scheduled to hit the market five years ago.
When unveiling the vehicle, CEO Elon Musk described it as a “halo car” that would deliver a “smack down” to gasoline vehicles.
That was almost eight years ago, and many electric hypercars have since launched and delivered this smackdown.
Tesla has partly blamed the delays on improving the next-gen Roadsters and added features like the “SpaceX package,” which is supposed to include cold air thrusters to enable the vehicle to fly – Musk has hinted.
Many people don’t believe any of it, as Tesla has said that it would launch the new Roadster every year for the last 5 years and never did.
Now, Lars Moravy, Tesla’s head of vehicle engineering, made a rare new comment about the next-generation Roadster during an interview at the X Takeover event, an annual gathering of Elon Musk cultists, last weekend.
He referred to Tesla’s next-gen Roadster as the “last best driver’s car” and said that the automaker did “some cool demos” for Musk last week:
We spent a lot of time in the last few years rethinking what we did, and why we did it, and what would make an awesome and exciting last best driver’s car. We’ve been making it better and better, and it is even a little bit more than a car. We showed Elon some cool demos last week and tech we’ve been working on, and he got a little excited.
We suspected that the comment might be about the Tesla Roadster, as the CEO made the exact same comment about Roadster demos in 2019 and 2024. You will not be shocked to hear that these demos never happen.
Electrek’s Take
The “last best driver’s car” before computers are going to drive us everywhere. It’s a self-fulfilling prophecy if you continue to delay the car. It might literally be the last car ever made that way. How would we ever know?
The truth is that the Roadster was cool when it was unveiled in 2017, but that was a long time ago. Tesla would need to update the car quite a bit to make it cool in 2025, and I don’t know that cold air clusters are it. You will have extreme limitations using those.
The Roadster is almost entirely in the “put up or shut up” category for me at Tesla. They need to stop talking about it and make it happen; otherwise, I can’t believe a word.
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The PV5 is already available in several markets, but will Kia launch it in the US? After Kia’s electric van was spotted testing in the US again, a US debut could be in the works.
Is Kia’s electric van coming to the US?
Kia launched the PV5, the first dedicated electric van from its new Platform Beyond vehicle (PBV) business, in South Korea and Europe earlier this year, promising it will roll out in “other global markets” in 2026.
Will that include the US? Earlier this year, Kia’s electric van was caught charging at a station in Indiana. Photos and a video sent to Electrek by Alex Nguyen confirmed it was, in fact, the PV5.
Kia has yet to say if it will sell the PV5 in the US, likely due to the Trump Administration’s new auto tariffs. All electric vans, or PBVs, including the PV5, will be built at Kia’s Hwaseong plant in South Korea, which means they will face a stiff 25% tariff as imports.
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Following another sighting, a US debut cannot be ruled out. The PV5 Passenger model was spotted by Automotive Validation Engineer Chris Higa (@Chrisediting) while testing in Arizona.
There’s no denying that’s Kia’s electric van, but it doesn’t necessarily confirm it will launch in the US. But it could make sense.
Despite record first-half sales in the US, Kia’s EV sales have fallen significantly. Sales of the EV9 and EV6 are nearly 50% less than in the first half of 2024.
To be fair, part of it is due to the new model year changeover, but Kia is also doubling down on the US market by boosting local production. Earlier this year, Kia said the EV6 and EV9 are now in full-scale production at its West Point, GA, facility.
The PV5 Passenger (shown above) is available in Europe with two battery pack options: 51.5 kWh or 71.2 kWh, rated with WLTP ranges of 179 miles and 249 miles, respectively. The Cargo variant has the same battery options but offers a WLTP range of either 181 miles or 247 miles.
During its PV5 Tech Day event last week, Kia revealed plans for seven PV5 body types, including an Open Bed (similar to a pickup), a Light Camper, and even a luxury “Prime” passenger model.
Kia PV5 tech day (Source: Kia)
Kia is set to begin deliveries of the PV5 Passenger and Cargo Long variants in South Korea next month, followed by Europe and other global markets, starting in Q4 2025. As for a US launch, we will have to wait for the official word from Kia.
Do you want Kia to bring its electric van to the US? Drop us a comment below and let us know your thoughts.