Europe’s vision of building homegrown EV batteries to cut its reliance on China is dying. But China is more than ready to step in where other companies have failed.
The most high-profile example of Europe’s major battery setbacks comes from the much beleaguered Northvolt, the Swedish startup that was once one of Europe’s best-funded startups and recipient of the largest-ever green loan in the EU, with backing from Volkswagen and BMW. It has since filed for bankruptcy protection in the US after a rescue package failed to go through, with its cofounder and CEO, a former Tesla exec, quitting.
Fallout has been spreading through Europe – Bloomberg reports that 12 out of 16 planned European-led battery factories have been delayed or canceled.
Yet, China – already years ahead of the game in development – is ready to fill the gap, with 10 of 13 projects in Europe moving forward, all led by Asian manufacturers such as China’s Contemporary Amperex Technology Co. and South Korea’s Samsung SDI.
But that dream has come crashing down. “The failure to establish domestic battery manufacturing capabilities threatens the very existence of the automotive industry in Europe,” Andy Palmer, former chief executive officer of Aston Martin Global Lagonda Holdings Plc., told Bloomberg. With no EV supply chain in place, automakers “may relocate production to regions with established battery industries, leading to potential factory closures and substantial job losses.”
Besides Northvolt, Mercedes-Benz Group AG and Stellantis NV have stalled work on two battery plants in Germany and Italy, while Volkswagen has said its European cell factories should take longer to reach capacity. UK battery startup Britishvolt closed for business last year as well.
Electrek’s Take
Still, building a European battery industry was always a long shot at best, since China supplies about 80% of the world’s lithium-ion batteries and is home to six of the world’s largest EV battery makers, the report said. But it’s a clear case of missed opportunity. While European automakers have been rolling out new ICE models, China has been racing ahead, massively investing in its own domestic EV industry. By 2021, just as legacy automakers were leaning into EVs, CATL had become the world’s biggest battery maker, with BYD’s power growing into a major force in EV development. Meanwhile, European automakers are walking back their electrification strategies and canceling battery orders.
If you’re an electric vehicle owner, charge up your car at home with rooftop solar panels. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing on solar, 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 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.
FTC: We use income earning auto affiliate links.More.
From February 2025, US Mercedes-Benz EV drivers will be able to charge their cars at over 20,000 Tesla Superchargers in the US and Canada.
Drivers based in Canada will gain access to the Tesla Supercharger network later in 2025.
Authorized Mercedes-Benz dealerships will provide a free software update for compatible vehicles to ensure smooth and easy Plug & Charge operation at Tesla Superchargers. Customers with vehicles in scope will be contacted directly to schedule their software update.
The Mercedes me Charge service will integrate drivers into the Tesla Supercharger network, enabling easy Plug & Charge functionality when they charge at Superchargers. Mercedes me Charge also offers public charging at Mercedes-Benz High-Power Charging, IONNA, Electrify America, EVGo, ChargePoint, and more.
Mercedes me Charge gives drivers charger locations, real-time charger availability, status, and pricing for all in-network charging points through both the Mercedes-Benz app and the MBUX infotainment system. Charging can also be initiated via the Mercedes-Benz app or the MBUX infotainment system.
Tesla Superchargers will be integrated into Mercedes-Benz’s “Navigation with Electric Intelligence”. This feature automatically navigates drivers to the most efficient, time-saving route, including transparent charging stops and charging times.
“The fast-growing network of charging points available in Mercedes me Charge will now expand to over 110,000 public charging points across the United States and Canada, providing Mercedes-Benz drivers with an industry-leading charging experience whenever and wherever they choose to charge,” said Franz Reiner, chairman of the board of management at Mercedes-Benz Mobility AG.
Mercedes says a North American Charging Standard NACS to CCS1 adapter for current CCS1-compatible EVs will be available at authorized Mercedes-Benz dealerships for purchase in the US for $185 in Q1 2025. Customers will be notified when adapters are available to purchase. They’ll be available from Canadian dealerships in Q2 2025, with pricing to be confirmed closer to market introduction.
The German automaker says it will introduce NACS ports in its EV lineup beginning in 2025.
Now is a great time to begin your solar journey so your system is installed in time for those sunny spring days. If you want to make sure you 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 to 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 share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. –trusted affiliate partner
FTC: We use income earning auto affiliate links.More.
Tesla’s Model Y “Juniper” refresh has been spotted for the first time undergoing winter testing in China, in anticipation of an imminent reveal.
The refreshed Model Y has been expected for some time, and is expected to include many of the improvements of the 2023 Model 3 refresh. The headline features of that vehicle are a new front-end, more efficiency, and a quieter cabin. But there were a lot of other interior improvements as well (and one big de-provement, the deletion of steering column stalks).
And we know that it’s coming soon, because there have been plenty of sightings and leaks lately, though all have been camouflaged to hide front and rear end design changes.
And while Tesla said in 2024 that there’s no Model Y refresh coming “this year”, 2024 is over now, and there have been plenty of recent indications that the refresh is imminent.
Well, now that time has apparently come, and photos were posted today of the vehicle undergoing uncamouflaged winter testing in Northeast China.
As expected, the refresh gets rid of the “duck lips” of the previous Model Y, just as Tesla did with the Model 3 refresh, and as camouflaged photos have suggested. The rear end also matches previous leaks we’ve seen, with a sleeker rear end and use of the “TESLA” text badging rather than the Tesla logo (which is also not present on the rear of the Model 3 refresh).
The front end is a more dramatic redesign than the Model 3, though, which gained a lower nose but still retained traditional headlights. The Model Y goes further with a Cybertruck-like light bar across the whole front end, rather than the distinct headlights of the Model 3.
Social media rumors also suggested that an official unveil is imminent, so we may find out more within days. Stay tuned.
What do you think of the look of the Model Y Juniper?
Charge your electric vehicle at home using rooftop solar panels. Find a reliable and competitively priced solar installer near you on EnergySage, for free. They have pre-vetted installers competing for your business, ensuring high-quality solutions and 20-30% savings. It’s free, with no sales calls until you choose an installer. Compare personalized solar quotes online and receive guidance from unbiased Energy Advisers. Get started here. – ad*
FTC: We use income earning auto affiliate links.More.
A judge has officially approved a settlement in a case brought by Tesla shareholders against board members who will now have to return stock, cash, and give up on stock options worth a total of nearly $1 billion.
Let me start this article with a quote from Tesla CEO Elon Musk:
Tesla will never settle a case where we’re in the right, and never contest a case where we’re in the wrong.
Today, Chancellor Kathaleen McCormick approved a settlement agreement between Tesla and all its board members from 2017 to 2020 and the Police and Fire Retirement System of the City of Detroit on behalf of Tesla shareholders over what the shareholders believed to be excessive compensation.
The agreement was first reported in July 2023, but it is only now being officially approved and we learn a few more details.
Shareholders believed that members of Tesla’s board were compensating themselves excessively with hundreds of millions of dollars between 2017 and 2020 when the average compensation of a board member of a S&P500 company is just north of $300,000.
Under the settlement, the board members agree to return to Tesla $277 million in cash, $459 million in stock options and to forgo $184 million worth of stock options awarded for 2021-2023.
That adds up to nearly $1 billion.
The board members include Kimbal Musk, Elon’s brother, Brad Buss, Ira Ehrenpreis, Antonio Gracias, Stephen Jurvetson, all close friends of Elon Musk and people who have financial dealings with Musk outside of Tesla, Linda Johnson Rice, Kathleen Wilson-Thompson, Hiromichi Mizuno and Larry Ellison, the co-founder of Oracle Corp and also a close friend of Musk.
As part of the settlement, Tesla or the board does not admit to any wrongdoing.
Musk didn’t take compensation as part of the board, but he is embroiled in a similar case over his own $55 billion CEO compensation package, which was rescinded by the same judge after she found that it wasn’t negotiated or presented to shareholders in good faith.
The board members who received this “excessive compensation” also happened to be the one who “negotiated” Musk’s CEO compensation package.