General Motors (GM) to lead $50M funding round for lithium extraction startup EnergyX

Brazilian Government offer fresh perks for a BYD plant as Ford talks stall

April 13, 2023 1:41 PM EDT

In February, the Brazilian government opened negotiations with electric automaker BYD in the hopes of reopening a factory that belonged to Ford (NYSE: F) in Camacari. Ford ended activities at the Camacari industrial complex in January 2021 following 20 years of operations.

However, as talks have stalled, a story from Reuters, citing unnamed sources, reports Thursday that... More

Mizuho sees GM as a front-runner among its global peers; initiates coverage at Neutral

April 13, 2023 7:56 AM EDT

Mizuho initiated coverage of General Motors (NYSE: GM) with a Neutral rating and $39.00 price target on the stock.

Analyst Vijay Rakesh wrote in a note, ~98% of GMs automotive revenue comes from legacy ICE vehicles; however, GM is aggressively transitioning to electric vehicles (EV) and developing autonomous technologies, moving away from its legacy positioning. We see GM as a front-runner among its global peers in this transition, with a leading EV and AV/ADAS roadmap comprised of its Ultium EV battery platform, Super/UltraCruise for consumer ADAS, and Cruise Automation for AV, while acknowledging the... More

Waymo self-driving vehicles pull over in California due to fog

April 12, 2023 12:44 PM EDT

Waymo, the self-driving technology segment of Alphabet Inc (NASDAQ: GOOGL), said Wednesday that some of their vehicles in San Francisco encountered dense fog and briefly pulled over to the side of the road.

The incident occurred around 6AM Pacific time on... More

General Motors (GM) Leads $50 Million Funding Round in EnergyX to Unlock U.S.-Based Lithium Supply for Rapidly Scaling EV Production

April 11, 2023 11:31 AM EDT

Energy Exploration Technologies Inc.

("EnergyX") and General Motors Co. (NYSE: GM) today announced that GM Ventures is leading a $50 million Series B financing round in EnergyX, and has entered into a strategic agreement to develop EnergyX's lithium extraction and refinery technology. The collaboration is focused on unlocking the North American supply of lithium, a critical material for EV batteries, by using EnergyX's innovative process to maximize efficiency while improving sustainability for GM's rapidly scaling EV production.

EnergyX's direct lithium extraction (DLE)... More

General Motors moves deeper into mining with EnergyX lithium investment

April 11, 2023 8:07 AM EDT

By Ernest Scheyder

(Reuters) -General Motors Co on Tuesday said it will invest in lithium technology startup EnergyX as it expands further into the mining industry, the latest deal by the car maker to ensure long-term supplies of the metal used to make electric vehicle batteries.

The global push by automakers to electrify their fleets has sparked a rush for stable supplies of lithium, copper, nickel and other critical minerals. Demand is expected to exceed supply by the end of the decade, fueling interest in novel production methods.

Privately-held EnergyX is one of several companies developing so-far... More

General Motors To Invest In Mining Startup Energyx To Help Commercialize Lithium Extraction Technology - Reuters

April 11, 2023 8:02 AM EDT

General Motors To Invest In Mining Startup Energyx To Help Commercialize Lithium Extraction Technology - Reuters

... More