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Global EV battery developer Gotion High-Tech has announced a major investment in the state of Illinois to the tune of $2 billion to erect a new gigafactory in Manteno – about 50 miles south of Chicago. With logistic and financial support from the state, Gotion’s new plant becomes the largest investment in EV battery technology in Illinois history.

Gotion High-Tech Co., Ltd. is a battery R&D and energy solutions provider that is headquartered in China, but has footprints on continents all over the world, including Fremont, CA – home to Tesla’s original gigafactory. Most recently, Gotion has been expanding to Vietnam via a joint venture with VinES, the energy division of VinFast.

The company specializes in several different types of battery chemistries, particularly in support of the automotive segment. This includes new lithium-iron-manganese-phosphate (LMFP) batteries (seen below) promising 1,000 km (621 miles) of range on a single charge, as well as lithium-iron-phosphate (LFP) batteries that we’ve reported on in the past, as Tesla was at one point rumored to be helping bring a factory to the US.

While we have no confirmation that Tesla is involved in any way, Gotion High-Tech has found a home for its US EV battery manufacturing plant – Illinois. Beginning next year, the company intends to begin producing batteries for automakers based all around North America.

LMFP battery
Credit: Gotion High-Tech

Gotion’s plant the largest EV battery investment in Illinois

Gotion High-Tech and Illinois Governor JB Pritzker joined local state leaders in the city Manteno – the future home of the EV battery manufacturing facility announced today. Gotion shared that the roughly 150-acre site will focus on the production of lithium-ion cells, battery packs, and energy storage system integration.

When complete, the state-of-the-art facility is expected to produce 10 gigawatt-hours (GWh) of lithium-ion packs and 40 GWh of li-ion cells – all in support of the local US EV supply chain. Gotion cited plans to manufacture batteries for its current partners as well as “additional EV manufacturers across North America.” During today’s press event in Manteno, Governor Pritzker spoke:

Today, we take another leap forward, announcing the largest electric vehicle battery production investment in Illinois to date. It’s my pleasure to welcome a world-leading battery manufacturer – Gotion – to Illinois. This announcement is a testament to Illinois status as a leading destination for companies and investors who want the most talented workers, the best transportation systems, and a collaborative economic growth mindset from their partners in government at all levels. With 2,600 new jobs, a $2 billion gigafactory, and the most significant new manufacturing investment in Illinois in decades – it’s the most recent proof that we are in a new paradigm. Illinois is on the rise, and we’re open for business.

Gotion’s decision to call The Land of Lincoln its new home was hardened by Pritzker and the state’s REV (Reimagining Energy and Vehicles) Illinois incentive package, plus a new fun called “Invest in Illinois.” Pritzker has been publicly courting prospective OEMs in the EV sector to come to Illinois and Gotion is now the first to take advantage of Invest in Illinois – which will provide the EV battery developer with $125 million in capital.

The state shared that Gotion’s entire incentive package is valued at $536 million and includes eligibility to receive $213 million in tax benefits over the next 30 years through REV. To qualify, Gotion must invest a minimum of $1.9 million and create at least 2,600 full-time jobs that pay at least 120% of the average wage for similar positions in Manteno’s Kankakee County.

The REV agreement has been fully executed, meaning the central Illinois city can expect to see thousands of job openings over the course of the next year. Lastly, Gotion will also receive 30 years of property tax abatement which has already been approved by local authorities. Gotion chairman Li Zhen spoke to the company’s new EV battery plant’s potential in a state like Illinois:

Energy and environmental protection are our common challenges. To address them, solar power, wind, and energy storage systems are becoming the backbone of a new energy system and accelerate the revolution in the global energy landscape. All that we see here [in Illinois] are of enormous value to us: an enabling business environment, a supportive state government for the new energy industry and their highly efficient work, as well as the prospects of the State of Illinois in the coming years. When we come to Illinois, we are not building a new factory but are planning to reuse an existing one and bring it back to life again as our way of cherishing and conserving resources. We believe that Gotion’s battery technology will help to boost e-mobility in North America and the economic and trade exchanges between China and the US.

Gotion says the new facility is expected to begin EV battery production in 2024. Illinois will also fund a manufacturing training academy nearby to prepare regional employees for jobs in the next-generation battery segment.

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Oil prices bounce back as investors hope U.S. inventory data will point to stronger summer fuel demand

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Oil prices bounce back as investors hope U.S. inventory data will point to stronger summer fuel demand

Energy stocks are only real hedge in an oil shock crisis: DataTrek Research's Nick Colas

Crude oil futures rose Wednesday as investors wait for the latest U.S. inventory data for indications of how gasoline demand is holding up as summer.

Oil prices pulled back Tuesday as the recent rally paused, but West Texas Intermediate and Brent are ahead 5.9% and 4.9% for the month as analysts expect summer fuel demand to pick up after a soft start to the season.

Here are today’s energy prices:

  • West Texas Intermediate August contract: $81.53 per barrel, up 70 cents, or 0.87%. Year to date, U.S. oil has gained 13.8%.
  • Brent August contract: $85.66 per barrel, up 65 cents, or 0.76%. Year to date, the global benchmark is ahead 11.2%.
  • RBOB Gasoline July contract: $2.53 per gallon, up 0.76%. Year to date, gasoline has gained 20.5%.
  • Natural Gas July contract: $2.71 per gallon, down 1.74%. Year to date, gas is ahead 7.7%.

Traders are waiting for confirmation that demand is firming from the latest U.S. oil and gasoline inventory data, which the Department of Energy will release at 10:30 am.

“The ubiquitous view is that demand will increase during the summer and with OPEC+ cuts fully in place until October global and OECD stocks ought to deplete,” John Evans, analyst at oil broker PVM, said in a Wednesday note.

“Thus, convincing stock draws in the US would go a long way to bolster this optimism,” Evans said.

Analysts are expecting that U.S .oil and gas inventories fell by 2.9 million barrels and 1 million barrels, respectively, last week.

Traders are also monitoring the situation on the Israel-Lebanon border. Israel and the Iran-backed militia group Hezbollah have threatened war recently, after trading fire across the border for months.

There are fears an Israeli offensive in Lebanon could trigger a direct confrontation with OPEC member Iran, potentially jeopardizing crude oil supplies.

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Electrogenic brings the DeLorean DMC-12 Back to the Future with a ‘drop-in’ EV conversion kit

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Electrogenic brings the DeLorean DMC-12 Back to the Future with a 'drop-in' EV conversion kit

Where BEV conversions are going, we don’t need roads… Actually, we still very much need roads, but we no longer need to look at the original DeLorean DMC-12, considered by many as a design far ahead of its time, as a dated combustion classic. The EV conversion experts at Electrogenic have introduced a new “plug and play” kit that can bring any sample of the original DeLorean into the future of electric mobility. It still can’t actually travel through time, though…

If you haven’t heard of UK-based EV conversion specialist Electrogenic yet, its latest addition to the portfolio will help you remember the name. Since being founded in 2018, the company has not only made it possible to electrify several classic cars but continues to do so using clever designs that maintain the integrity of the original vehicles with subtle touches to support their new all-electric powertrains.

The company uses specialized “drop-in” kits that present a “plug and play” solution for a growing lineup of notable models, including Land Rovers, classic Porsche 911s, and a 1960s Jaguar E-Type. Last summer, we covered Electrogenic’s most complex EV conversion to date – a 1929 Rolls-Royce Phantom II commissioned by Aquaman himself, Jason Mamoa.

For its EV conversion next project, Electrogenic has once again tied itself to Hollywood and has gone (slightly) younger in the classic DeLorean it has chosen to electrify. The DMC-12 was the flagship model of DeLorean Motor Company that held a brief moment in the sun during the 1980s thanks to its gull-wing doors and stainless steel exterior (you’re welcome, Cybertruck).

The original rear-engine vehicle served as a lesson in design by Giorgetto Giugiaro… and a lesson in how not to run an automotive company by John DeLorean. Still, the DMC-12 remains a cult classic in pop culture thanks to its starring role in the Back to the Future franchise.

The original iteration of DeLorean Motor Company only lasted seven years, but it was revived as an all-electric brand in 2022. However, DeLorean 2.0 also shuttered its headquarters a year later. While we aren’t likely to see a new DeLorean EV model on roads any time soon, Electrogenic has introduced an EV conversion kit to electrify the original.

The famed DeLorean gains an EV conversion kit

Great Scott! The DeLorean DMC-12 can now be retrofitted with an EV conversion kit announced by Electrogenic, bringing it into the 21st Century without any risk of going back in time and getting hit on by your mom. Phew.

The Electrogenic team said it exhaustively developed this new “drop-in” EV conversion package for the 1980s DeLorean, complete with its own proprietary EV powertrain technology that is “future-proof” and entirely reversible.

The conversion features 43 kWh of OEM-grade batteries positioned in place of the fuel tank beneath the front luggage compartment and above the rear motor. Thanks to its clever battery packaging, Electrogenic can keep the original structure intact without cutting anything.

It may not leave a trail of flames when it accelerates like it did on the big screen, but future drivers of the “plug and play” DeLoreans can take advantage of 160 kW of power and 310 Nm (~229 lb-ft) of torque. Despite the EV conversion weighing about 40 kg (88 lbs) more than the original V6 DeLorean, its all-electric powertrain halves its 0-60 mph acceleration from over ten seconds to less than five.

Other features include regenerative braking, range-saving Eco mode, and a Sport Mode for maximum power. Inside, you can add several other new features, such as Apple Car Play (thank you), enhanced air conditioning, and a bespoke virtual dashboard. The DeLorean DMC-12 is also the first Electrogenic EV conversion to feature “Launch Control” for sprints off the line at a red light… or if you want to try to bend space and time.

As with all Electrogenic EV conversion kits, the DeLorean offers CCS fast charging that can replenish in one hour, as well as vehicle-to-load (V2L) capabilities – 3kW of 240V power in case you want to set up a public screening of Back to the Future in a JCPenney parking lot somewhere.

Due to the limits in battery storage within the vehicle’s existing chassis, Electrogenic’s EV conversion of the DeLorean only offers 150+ miles of all-electric range, but that’s more than enough to cruise around and show it off. The DMC-12 has always been a head-turner, and BEV capabilities only add to its lore. Electrogenic CEO Steve Drummond shared a similar sentiment:

We’re delighted with the results of our ‘plug and play’ DeLorean EV conversion package; it transforms the DMC-12 from an American cruiser into a true sports car, with performance that perfectly matches its timeless space-age visuals. When John DeLorean set out to make the DMC-12 over forty years ago, he was determined to create a sports car that was sustainable and would stand the test of time. An EV conversion therefore makes total sense and feels in keeping with the ethos of the original project. I can also attest that the car’s original, Lotus-engineered, suspension is more than up to the task of handling the new-found torque; the car is fabulous to drive.

During the DeLorean’s road testing and calibration program for over the past few months, our engineering team has been blown away by the response it gets from the public; it generates interest and excitement like nothing else. You’re constantly being stopped by DeLorean fans asking for pictures or wanting to take a closer look at the car.

The DeLorean DMC-12 EV conversion kit is now available for sale through Electrogenic’s vetted global installer network, which includes numerous partners in the United States. 

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Tern’s new Quick Haul Long electric cargo bike shows it’s not the size that matters

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Tern's new Quick Haul Long electric cargo bike shows it's not the size that matters

Tern, one of the leading innovators in cargo electric bike design, has just announced its newest model. Get ready to stretch, because here comes the Quick Haul Long.

Tern’s electric cargo bikes have always been known for two things: high-quality heavy-hauling designs and relatively smaller footprints, at least as far as cargo e-bikes go. Years ago, the company basically invented the compact cargo e-bike category.

Tern’s engineers have long been offering just as much — or more — cargo hauling abilities in e-bikes that don’t take up as much space in riders’ garages or living rooms. Look no further than the vertical parking feature built into their rear racks that allows the bikes to take up the same amount of floor space as a coat rack.

Now, with the new Tern Quick Haul Long, the company is finally filling out in the length department with its lower cost model, while still incorporating more of the size and capabilities of its longer GSD model.

The GSD has long been Tern’s flagship longer cargo e-bike, but it also comes with a flagship price, starting at around $4,500 and increasing quickly from there for the even higher-end components. The Quick Haul, on the other hand, is the brand’s smaller and more budget-friendly cargo offering. Now Tern is combining the two, bringing GSD features to the Quick Haul, but leaving the higher price in the dust.

Starting at US $3,799, The Quick Haul Long is still compact by modern cargo e-bike standards, but incorporates more of the GSD’s DNA for even more capability. It’s also now one of the most affordable premium cargo e-bikes on the market available from the higher-tier brands.

“The compact cargo bike category came about when we launched the GSD in 2018,” explained Josh Hon, Tern Team Captain. “Customers loved how such a small little bike could handle so many tasks typically done by car. Since then, we’ve learned a lot about how to make cargo bikes even better, and we applied those insights to the Quick Haul Long. The bike retains the GSD’s core features but it comes at a more accessible price, without compromising safety or reliability.”

The Quick Haul Long sticks with Tern’s typical 20″ wheels, keeping it the same length as a typical larger wheel city bike. However, its long rack and 190 kg (419 lb) weight rating means it can handle significantly more utility tasks. Just that rear rack alone is rated for 90 kg (200 lb), and also has a built-in tow mount for pulling trailers or towing other bikes. Carrying two kids on the rear rack is a breeze, and the bike’s lower center of gravity and stiff frame are optimized for stable, smooth riding.

Even the front cargo mount, which supports an optional front rack or basket, is rated for 20 kg (44 lb). Anyone who has ever loaded up the front of their bike in addition to the rear will know that’s a serious amount of weight, helping to balance out a load and provide more mounting options.

The bike is said to fit riders from 5’1″ to 6’1″, or 155 to 185 cm. The low step-through frame is designed to be easy to mount, as well as easy to hop forward on, especially when you’ve got a couple of wiggling kids on the rear rack and need some extra stability at a red light. For more stability when parked, the bike features one of the strongest dual kickstands I’ve ever seen, and I’ve seen a lot of kickstands. I’ve had a motorcycle or two that I wish Tern had built the kickstand for.

Powering the bike is Bosch’s Cargo Line mid-drive motor, meaning you get the backing of the leading German drive maker as well as all of the warranty and service/support that comes with it.

The bike also features Bosch’s batteries with multiple size options, letting riders dial in the capacity and range they need (and that fits their budget).

And while Tern’s heritage comes from the bike experts of Taiwan, you’d almost think they were a German company based on how much emphasis they put into the engineering and safety certifications on their bikes, including testing to the new DIN79010 standard at the bike’s max capacity of 190 kg (419 lb).

As Hon continued, “The cargo bike segment has exploded in popularity in recent years, with just about every brand introducing their version of a ‘cargo bike.’ But unfortunately, testing and safety standards haven’t kept pace. Germany has recently published the first national testing standard for cargo bikes – DIN79010. We believe that any cargo bike claiming a MGVW over 120 kg should be tested to the DIN 79010 standard—but very few have been so far.”

Electrek’s Take

This definitely feels like Tern’s shot across the bow of budget brands with their popular low-cost cargo e-bike models. There’s no way Tern can compete directly with a $1,500 cargo e-bike, but it can offer significantly better quality components for a compelling price, at least compared to all the $6,000 cargo e-bikes out there.

For those who are trying to decide whether to save money on a budget brand or upgrade to a premium model, this is about the best price you’ll find for a premium electric cargo bike.

I still believe that budget cargo e-bikes have their place, and to be fair, I got my sister one for her family. But we can’t kid ourselves and pretend like there isn’t a quality difference. For someone actually replacing a car and relying on their e-bike daily, that quality difference translates into everyday reliability and the peace of mind of knowing that the bike is designed to last for years, not for a year.

Of course, the fact that the bike runs a Bosch motor is always going to be a double-edged sword in the US. Bosch systems are famously pedal-assist only, meaning no throttles. The Bosch name carries a lot of weight in Europe, but Americans seem to opt for throttle-enable electric bikes nine times out of ten, so it’s an uphill pedal to try and sell non-throttle e-bikes in the States. In Europe though, I can see this thing crushing the pricier alternatives from German and British e-bike brands.

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