BYD secures license deal with Ford and GM supplier to use its LFP battery packs for EVs
Leading global EV maker BYD is making big moves to stay on top of the market. Its latest deal gives Ford and GM supplier BorgWarner rights to its BYD Blade battery packs.
BYD signs deal with Ford, GM supplier for battery packs
BorgWarner announced the strategic agreement with BYD’s battery unit, FinDreams. Under the deal, the auto supply giant will be “the only non-OEM localized manufacturer with rights to localize BYD’s Blade LFP battery packs for commercial vehicles.”
The supplier will be the preferred manufacturer of LFP battery packs using FinDream’s Blade battery cells in the Americas, Europe, and other regions in Asia Pacific. The deal is for eight years.
In addition to receiving BYD’s Blade cells to build battery packs, BorgWarner will also gain rights to FinDreams battery’s IP, including the design and manufacturing process.
BorgWarner’s CEO, Frédéric Lissalde, said LFP batteries are “an exciting technology” that’s becoming increasingly important due to its lower prices.
“We believe FinDreams Battery is right for BorgWarner in this area, with its 20-plus years of experience and success in LFP batteries for the mobility sector across China and Europe,” Lissalde explained.
BYD dominated the LFP battery market with a 41% share through last November, according to data from the China Automotive Battery Industry Alliance. Chinese rival CATL was second with 33.9%.
The company’s Blade Battery is powering EVs that are already being sold globally. BYD’s Seal, which launched in Mexico in December, has claimed range of up to 435 miles (700 km). And it starts at under $45,000 (778,800 pesos).
BYD’s LFP batteries played a key role in the automaker surpassing Tesla to become the largest EV maker globally in the last three months of 2023.
Meanwhile, BorgWarner, which supplies auto parts to Ford, GM, and Stellantis, to name a few, has recently doubled down on the Chinese market.
The BYD deal comes on the same day it secured a contract with a major Chinese OEM for dual inverters. BorgWarner also began building eMotor rotors and Stators for XPeng last week. Xpeng will use the parts on its X9 MPV, which will begin production in Q3.
Electrek’s Take
Although many automakers, including Tesla, Kia, Hyundai, and Toyota, already use BYD’s Blade batteries overseas, the move shows how far ahead BYD is.
Ford’s chief operating officer for its EV unit, Marin Gjaja, said at a panel Wednesday in Detroit that cheaper Chinese EVs are a “colossal strategic threat” that will enter the US.
Gjaja said Ford better “get going on EVs, or we don’t have a future as a company,” adding, “They are ahead of us in this technology.”
BYD Mexico CEO Zhou Sou told Nikkei this week the company is considering building a plant in the nation. It will serve as an export hub to the US.
“If I was sitting in China right now running a Chinese OEM, I’d be looking for land in Mexico,” Gjaja said Wednesday. In Mexico, you have “a supplier base, low cost of construction, low cost of labor, and the USMCA trade agreement,” giving you access to the US.
Gjaja said Cheaper Chinese EVs are “going to come here, just as the Japanese ended up here, the Koreans ended up here and the Germans ended up here. It’s a big market.”
Meanwhile, BYD is launching its cheapest EV not too far from the US in Brazil. The BYD Dolphin Mini (Seagull) will start at $20,100 (99,800 reals) as BYD looks to expand overseas.
FTC: We use income earning auto affiliate links. More.
Environment
Communication is now even more important to getting renewable projects off the ground, experts say
(From left) CNBC’s Steve Sedgwick moderates an IoT panel with Cenk Alper, CEO of Sabanci Holding, Christina Shim, chief sustainability officer of IBM, and Mitesh Patel, interim CEO and COO of SunCable International, at CONVERGE LIVE on March 13, 2025.
Renewable energy companies can shorten the long approval process needed for their projects by communicating better with stakeholders, according to experts.
Christina Shim, IBM’s chief sustainability officer, said sponsors need to focus on the business value — in addition to the environmental benefits — when discussing their projects.
“That being said … there are some triggering words now, depending on where you sit around the world, and I think the more that you can quantify business value for what you’re doing and tie it to, again, the business operations and business decision making, it’s only going to be more and more important,” Shim said Thursday.
“As long as the outcomes are the same, you just need to make sure that you’re communicating in an appropriate way with the right stakeholders.”
She compared it to how one might talk to a CFO, versus an investor, versus someone in procurement. “You kind of have to talk about things a little bit differently.”
Mitesh Patel, interim CEO and COO at SunCable International, agrees that adjusting communication for the right audience is crucial.
“For politicians, the voters are their constituency, not your project or not your company. You have to help them translate what benefits your project will bring to the constituents,” said Patel, whose company is developing a project to deliver solar energy from Australia to Singapore via undersea cables.
The project, called Australia-Asia PowerLink, is valued around $24 billion and expected to supply Singapore with 1.75 gigawatts of electricity — or around 15% of its electricity needs, according to the company.
The comments by Shim and Patel, who were speaking to CNBC’s Steve Sedgwick on a panel in Singapore, come as renewable energy projects often take many years to get off the ground.
A report from the Global Infrastructure hub, which is part of the World Bank’s Public-Private Infrastructure Advisory Facility, noted the complex nature of preparation needed before an infrastructure project gets underway. It put the average project preparation time at 6 years but said it can take up to 14 years if the project is not planned properly.
Cenk Alper, CEO of Sabanci Holding, a Turkish conglomerate, said the biggest obstacle to getting renewable energy projects off the ground is often regulatory.
“The biggest problem is still government — the permits. Because from licensing to making a project ready, the total time is longer than the construction time,” he said.
The situation in Europe is worse, he added, citing a project where connecting to the grid took two years.
Alper said Western countries need to streamline the approval process for renewable energy projects, noting China has embarked on more projects in the last five years than the rest of the world combined.
A new study from the REPEAT Project led by Princeton University’s ZERO Lab warns that the repeal of Inflation Reduction Act (IRA) tax credits could decimate the growing EV manufacturing sector.
The report “Potential Impacts of Electric Vehicle Tax Credit Repeal on US Vehicle Market and Manufacturing” clearly outlines the risks. The Princeton study states that repealing the IRA federal tax credits and the EPA’s clean vehicle regulations would sharply reduce EV demand.
Specifically, EV sales could drop around 30% by 2027 and nearly 40% by 2030 compared to sticking with the policies implemented by the Biden administration. That means the share of EVs among new cars sold would shrink dramatically – from about 18% to 13% by 2026 and from 40% to just 24% by 2030.
“While no one has a perfect crystal ball, this is our best attempt to survey available quantitative forecasts and develop an outlook on US EV sales,” explained the study’s project leader, Jesse D. Jenkins, assistant professor at Princeton’s Department of Mechanical & Aerospace Engineering and Andlinger Center for Energy & Environment in an email. “The report is also the only analysis I’m aware of to date that draws the connection to US manufacturing as well.”
Here’s why this matters: The report points out that repealing these policies wouldn’t just slow down EV adoption – it could seriously derail the US manufacturing renaissance now underway. Up to 100% of planned expansions for EV assembly plants could be canceled or shuttered. Battery manufacturing would also take a huge hit, with between 29% and 72% of battery cell production capacity becoming redundant by 2025. That means factories under construction or those just coming online would be at risk.
To put that into perspective, an Environmental Defense Fund report released in January found that $197.6 billion worth of investments in EV and battery manufacturing have been announced at 208 facilities around the US, with two-thirds announced since the passage of the Inflation Reduction Act in August 2022.
It’s probably a good time to point out that, in order to qualify for IRA federal tax credits, EVs must be domestically assembled, use battery components that have been substantially domestically produced, and use critical minerals produced, processed, or recycled in North America or free trade agreement countries.
Why, then, is the Trump administration torpedoing an industry that’s achieving the very thing it says it wants to achieve, which is to boost domestic manufacturing and jobs?
And let’s not forget the broader EV supply chain – materials, parts, and component suppliers across the country would also suffer, though these effects haven’t even been fully quantified yet.
Bottom line: Repealing the tax credits and regulations wouldn’t just slow down EV sales – it would threaten the jobs, investments, and communities counting on America’s EV manufacturing boom.
Read more: Republican districts lose billions as clean energy cancellations surge
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
FTC: We use income earning auto affiliate links. More.
The Optiq, Cadillac’s most affordable EV, just got a price cut. Despite being on the market for less than two months, GM cut lease prices by nearly $100 a month. Here’s how you can snag the deal.
GM cuts lease prices on Cadillac’s most affordable EV
Compared to Cadillac’s other electric vehicles, like the Escalade IQL, which starts at over $130,000, and the Vistiq, which has a price tag of over $77,000, the Optiq already looks like a steal at about $55,000.
Cadillac’s electric SUV arrived in January with lease prices starting at $489 per month. Although this was already its cheapest SUV (gas or EV), GM is making it even more affordable this month.
The 2025 Cadillac Lyriq is now listed at just $399 for 24 months with $4,929 due at signing. In less than two months, the OPTIQ’s lease prices have fallen by $90, or almost 20%. The deal is for the 2025 Cadillac Optiq AWD Luxury 1 with an MSRP of $54,390.
Cadillac’s lease deal runs through March 31. However, there are a few limitations you should know about. The deal includes a $2,000 loyalty or conquest offer.
The fine print states you must be a lessee of a 2020 model year or newer non-GM vehicle for at least 30 days. According to online car research firm CarsDirect, this extends to 2011 and newer electric vehicles from a competitor brands such as Tesla, Rivian, Porsche, BMW, Ford, and Honda, among several others.
At 190″ long, 75″ wide, and 65″ tall, the Cadillac Optiq is about the same size as the Tesla Model Y (187″ long x 76″ wide x 64″ tall).
Powered by an 85 kWh battery pack, the electric SUV has a driving range of up to 302 miles. With 150 kW DC fast charging, the Optiq can gain up to 79 miles of range in about 10 minutes.
| 2025 Cadillac Optiq trim | Starting Price (including destination) |
Driving Range (EPA-estimated) |
| Luxury 1 | $54,390 | 302 miles |
| Luxury 2 | $56,590 | 302 miles |
| Sport 1 | $54,990 | 302 miles |
| Sport 2 | $57,090 | 302 miles |
Inside, the Optiq features a massive 33″ infotainment and “segment-leading” cargo (57 cubic feet) and second-row space.
GM has been introducing new deals on new EV models all year. Chevy’s new Equinox, Blazer, and Silverado EVs are all available with 0% APR with leases starting as low as $299 per month.
Ready to take advantage of the savings? We can help you get started. Check out our links below to find deals on GM’s most popular EVs in your area.
FTC: We use income earning auto affiliate links. More.
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports11 months agoStory injured on diving stop, exits Red Sox game
-
Sports1 year agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports3 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business2 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway