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ExxonMobil and LG Chem just announced a big move that could strengthen the US critical mineral supply chain and be a game-changer for EV manufacturers.

ExxonMobil is planning a big lithium extraction project in Arkansas, and they’ve signed a non-binding memorandum of understanding to supply up to 100,000 metric tons of lithium carbonate to LG Chem. This lithium will go to LG Chem’s massive cathode plant in Tennessee – a facility that’s set to become the largest of its kind in the country.

Right now, the US heavily relies on imports for lithium. ExxonMobil’s project aims to change that by providing a domestic supply, which could be a huge boost for US-based EV battery production. Plus, the planned project will use Direct Lithium Extraction (DLE) technology, which ExxonMobil says will cut carbon emissions by about two-thirds compared to traditional hard rock mining.

The LG Chem plant, which broke ground in December 2023, is expected to produce 60,000 tons of cathode material annually – enough to support a lot of EVs. Its location in Tennessee is also ideal for quick deliveries to US manufacturers and easy import of raw materials, streamlining the entire supply chain for domestic EV production.

The final go-ahead for ExxonMobil’s lithium project will depend on regulatory approvals and other factors. But if everything falls into place, this partnership could help secure a more stable, lower-emission lithium supply for US EV makers, which could be a big win for the industry.

In February, LG Chem made a 10-year deal with General Motors to supply 500,000 tons of cathode material, enough for around 5 million EVs. The contract will commence in 2026 – when the factory is expected to come online – and run until 2035.

Read more: LG Chem is building a $3B EV battery cathode factory – the largest in the US


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Honda unveils all-solid-state EV battery production line for the first time

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Honda unveils all-solid-state EV battery production line for the first time

Honda has been promising to unlock the power of all-solid-state EV batteries for several years. Today, we are getting our first look at the progress. Honda unveiled a demonstration production line as it continues to advance promising new battery technology.

By 2050, Honda wants all its products and corporate activities to be carbon neutral. Although electric vehicles are essential to this mission, Honda believes improvements are needed.

Since the battery is such a critical component for EVs, the company aims to unlock more driving range at a lower cost with new chemistries.

Honda is developing all-solid-state EV batteries in-house to power up its next-gen vehicles. It’s not “merely trying to establish a lab-level technology,” Honda is eyeing mass production in the coming years.

On Wednesday, Honda unveiled its demonstration production line for all-solid-state EV batteries, giving us our first look at the progress.

The line is located at Honda’s R&D facility in Sakura City, Tochigi Prefecture, Japan. Honda will use the demo line as a preface for mass production while determining the basic specifications of the battery cells.

Honda-all-solid-state-EV-batteries
Honda’s new facility where the all-solid-state EV battery demo production line is located (Source: Honda)

Honda is launching EVs with all-solid-state batteries

Honda plans to launch electric models with the new all-solid-state battery tech in the “second half of the 2020s.”

The new demo line replicates the processes required for mass production. It covers around 295,000 ft2 (27,400 m2) and is already equipped with the tools to verify each production process, including weighing and mixing electrode materials, coating, and roll pressing electrode assemblies. The line also supports the formation of cells and the assembly of the module.

After the new facility was completed this spring, all the equipment needed for verification is now in place.

Honda plans to begin production on the new demo line in January 2025. With a highly efficient production process and a wide range of use cases, including automobiles, motorcycles, and aircraft, Honda aims to slash battery costs.

To speed up development, Honda is conducting “speedy research” in two main areas: material specifications and manufacturing methods.

The company plans to start mass producing all-solid-state EV batteries in the second half of the 2020s.

Ahead of its 2050 carbon neutrality target, Honda aims for 100% of global vehicle sales to be EV or FCEV by 2040. Honda believes the new battery tech will be its differentiator.

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AUSOM’s 41mph scooter: Faster than you’d need yet stable enough to go faster

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AUSOM’s 41mph scooter: Faster than you’d need yet stable enough to go faster

There are typically a few common factors that make it hard to enjoy a bit of speed, but unlike most electric scooters on the market, Ausom managed to get just right with their new Leopard DT1 pro scooter. 

Of course, given that you’re in a safe area where it’s legal to get some speed going. Going fast on an electric scooter typically means you start worrying about things like how expensive it’s going to be, braking power, handling, suspension, and battery life. Fortunately in this case Ausom created a powerful 2*1000w motor scooter that’s both fast and feels stable enough to make you want to go faster than 41 mph. 

For a limited time, get an extra $50 off with promo code Electrek50 for Black Friday.

Even if you’re not planning to go the top speed, 2000 watts of motor in the scooter’s race mode setting is enough torque to have plenty of fun. On top of the fun aspect of having that much power instantly, if you ever need to go up a steep hill or need to accelerate quickly in order to get out of a potentially dangerous spot in traffic, the Ausom dt1 pro will do it without hesitation. 

Now if you’re going to flip on that dual motor function you’ll be rest assured when it comes to braking because Ausom included E-ABS front and rear hydraulic brakes that can give you some serious braking power. On top of that for even more safety they included some stylish turn signals which are beautifully integrated into the natural shape of the scooter rather than having some protruding signals. There’s also a headlight and rear light for further visibility. 

Another factor to consider for high speeds is battery life and range, but thankfully aside from coming with a 52v 18.2 ah battery and 47 miles of range the scooter also comes with easy-to-use controls to switch from different modes. If you need to get the most distance out of the battery, being able to quickly and easily switch to a single motor and also go to eco-mode makes a huge difference. To navigate the control, the company uses a big LCD screen that can quickly give you a reading on speed, mode, battery life, and more. For charging, Ausom knows how to deliver with the use of Dual-port charging for quicker and safer power-ups in around 4-5 hours. 

For security, Ausom included an NFC security lock, which, unlike a traditional metal key, takes just a tap to unlock. In terms of overall features, Ausom includes some pretty convenient and smart features. For those who live in an urban area, you’re probably not a stranger to using an air tag on things like motorcycles or bikes for tracking purposes. Ausom had that thought out and included a special slot to hold an air tag. They also include a USB-A and USB-C charging port in order to charge your phone. 

At just $1,099 (with promo code Electrek50) Ausom is packing a ton of value here with the Leopard dt1pro. Balancing out price, speed, and good handling is not easy but Ausom’s thick tires and swing arm suspension make it comfortable even when rolling down something like a steep curb or getting over some thick obstacles on the road. 

Normally electric scooters might feel scarier to ride compared to bikes but the size and construction of the dt1pro was designed to be comfortable and easily maneuverable even at high speeds. For an even better deal, you can use promo code Electrek50 for $50 off the Leopard DT1, DT Pro, or the Gallop SR1 E-scooters from Ausom. If you’re looking for a bigger discount feel free to use code Electrek110 for $110 off the GX1 E-Scooter. 

You can find Ausom’s full lineup through their website here

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Billionaire Gautam Adani charged in New York with massive fraud, bribery scheme

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Billionaire Gautam Adani charged in New York with massive fraud, bribery scheme

Gautam Adani, chair of Indian conglomerate Adani Group, addresses a gathering during the Vibrant Gujarat Global Summit 2024 in Gandhinagar, Gujarat, India, on Jan. 10, 2024.

Punit Paranjpe | AFP | Getty Images

Gautam Adani, chair of India’s Adani Group and one of the world’s richest people, was indicted with others in New York federal court on charges related to a massive bribery and fraud scheme, authorities said Wednesday.

Adani and other defendants are accused in the indictment of having paid Indian government officials more than $250 million in bribes to obtain solar energy supply contracts worth more than $2 billion in profits.

The 62-year-old billionaire and two executives in Adani Green Energy Limited, his nephew Sagar Adani and Vneet Jaain, are charged with misleading U.S. and international investors about their company’s compliance with antibribery and anticorruption practices as they raised more than $3 billion in capital to fund those energy contracts.

Both Adanis and Jaain are charged with securities fraud conspiracy, wire fraud conspiracy and securities fraud.

The five-count indictment in U.S. District Court in Brooklyn also charged Ranjit Gupta and Rupesh Agarwal, who were former executives in the renewable energy company Azure Power Global, as well as three former employees of the Canadian institutional investor Caisse de Depot et Placement du Quebec: Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra.

A worker walks past rows of solar panels at the Adani Group-owned Khavda Renewable Energy Park in Khavda, India, on Jan. 12, 2024.

Punit Paranjpe | Afp | Getty Images

Those defendants are accused of conspiracy to violate the Foreign Corrupt Practices Act in connection to the bribery scheme by Adani and the others at the energy company.

Cabanes, Saurabh Agarwal, Malhotra and Rupesh Agarwal are also accused of conspiring to obstruct U.S. federal criminal and Securities and Exchange Commission investigations into the bribery scheme.

Although the alleged criminal activity at the center of the indictment occurred in India, the defendants are charged in Brooklyn federal court because of alleged actions that occurred in the Eastern District of New York in connection with the bribery scheme and capital-raise effort.

Those actions included alleged false statements of material facts or omissions from statements related to a bond issuance that raised capital for the solar energy contracts.

The SEC filed civil complaints Wednesday against Gautam Adani and Sagar Adani, as well as against Cabanes, who is an executive at Azure Power Global, in connection with alleged bribery that enabled Adani Green Energy and Azure to capitalize on solar energy contracts awarded by India’s government.

The SEC’s complaints note that during the alleged scheme, Adani Green raised more than $175 million from U.S. investors, and Azure’s stock traded on the New York Stock Exchange.

“Gautam and Sagar Adani orchestrated a bribery scheme that involved paying or promising to pay the equivalent of hundreds of millions of dollars in bribes to Indian government officials to secure their commitment to purchase energy at above-market rates that would benefit Adani Green and Azure Power,” the SEC said.

“Cabanes allegedly facilitated the authorization of bribes in furtherance of the scheme while in the United States and abroad,” the agency said.

Gautam Adani is the second-richest person in Asia, with a reported net worth of $85 billion.

He lost tens of billions of dollars in personal wealth in early 2023 when the short-selling firm Hindenburg Research published a report accusing the Adani Group of engaging “in a brazen stock manipulation and accounting fraud scheme over the course of decades.”

Hindenburg’s report called it “the largest con in corporate history.”

Adani issued a 413-page response to Hindenburg, calling the allegations baseless.

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