Mitra Chem’s Post

"General Motors has hired battery expert and ex-Tesla executive Kurt Kelty to be the automaker’s new vice president of batteries — a brand new role for the company. His first day will be February 19. Kelty will join GM at a time when the company has struggled to increase the output of the battery packs for its new Ultium platform, which is supposed to power its next-generation electric vehicles. 'The foundation that GM has established coupled with Kurt’s exceptional battery expertise in leading battery chemistry development, establishing partnerships, building out supply chains and partnering closely with teams that have developed leading battery systems will help us achieve our electrification goals and position GM as a leader in EV technology,' GM president Mark Reuss said in a statement. Kelty’s role will likely affect the Ultium program, although his job is designed to be far broader. GM has had teams dedicated to different pieces of the battery process. However, there has never been one role that strings together every step, including sourcing raw materials and identifying and testing out new technologies." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #automotive #batteries #evs #gm #tesla https://lnkd.in/e7e6MsFv

What happened in the mobility market today ? Read this 1-minute recap to stay informed. 1. BYD 🇨🇳 announced that the company will consider building a second assembly plant in Europe in 2025. 2. BP 🇬🇧, British multinational oil and gas company, wants to buy Tesla Supercharger sites sites across the US. BP plans to spend $1 billion by 2030, half of it within the next three years to install +3,000 charging points across the US. 3. Ford 🇺🇸 is considering offering gas-powered vehicles and hybrids beyond 2030 in Europe. This marks a change from Ford’s initial plan for an all-electric lineup in 🇪🇺. #ElectricVehicles 🔷🔷🔷 That’s a daily recap that I post every single day. I hope you enjoyed reading.

Electric vehicles scoop (big for lithium) Ford Motor Co. has begun cutting orders from battery suppliers to stem growing electric-vehicle losses, according to people familiar with the matter, as it throttles back ambitions in a rapidly decelerating market for plug-in models. Ford continues to maintain partnerships with its battery suppliers, which include South Korea’s SK On Co. and LG Energy Solution Ltd., as well as China’s Contemporary Amperex Technology Co. Ltd., said the people, who asked not to be identified revealing internal decisions. The move is part a retrenchment of Ford’s EV strategy, which includes reducing spending by $12 billion on battery-powered models, delaying new EVs, cutting prices, and postponingand shrinking planned battery plants. Ford has forecast EV losses of up to $5.5 billion this year and Chief Executive Officer Jim Farley recently said its EV unit, Model e, “is the main drag on the whole company right now.” With Keith Naughton & Heejin Kim https://lnkd.in/eMbBdzYK

Electric vehicle (EV) adoption is well underway, but are suppliers prepared for the transition? We surveyed 205 executives from tier 1 automotive suppliers to find out. Here’s what they had to say. #EV #automotiveindustry

Electric vehicle (EV) adoption is well underway, but are suppliers prepared for the transition? We surveyed 205 executives from tier 1 automotive suppliers to find out. Here’s what they had to say. #EV #automotiveindustry

This electric vehicle story is a case study on truly knowing your customer. The EV adoption slow-down is being impacted by total cost of ownership, infrastructure, and even education dynamics. Hybrids are gaining steam due to advantages in flexibility, familiarity, cost and so on. The winners here will be the companies who can best understand and adapt to customer needs.

"BMW’s commitment to an electric future is not merely symbolic—it’s backed by substantial investment. A whopping $400 million is earmarked for the conversion of the Munich plant into a state-of-the-art facility dedicated to electric vehicle production. This investment reflects the company’s confidence in the growing demand for EVs." "The Munich plant’s conversion is set to create 1,200 new jobs, injecting vitality into the local economy. Moreover, recognizing the need for transition, BMW is offering retraining programs for employees who were previously engaged in combustion engine production. This forward-thinking approach ensures that the workforce is prepared for the electric era." "BMW is not merely stopping at the conversion of one plant; it’s aiming for grandeur in the electric realm. The company’s vision includes producing a staggering 2 million electric vehicles by 2025, signaling a steadfast commitment to shaping the future of transportation." Exciting! #ev #electric #electrification #electricvehicle #electricvehicles #evcharging #charging #chargingstations #renewableenergy #solar #photovoltaics #pv #wind #climatecrisis https://lnkd.in/g-AMe4ce

I'm thrilled to share that the case study, "General Motors' EV Dilemma: Navigating to Emissions-Free Vehicles," which I co-authored with Prutha Bhide and Jefry Situmorang, has been published! This study explores General Motors's ambitious goal to sell only zero-emission cars and light trucks by 2035, as part of its broader initiative to achieve carbon neutrality by 2040. It analyzes the challenges faced by the traditional automaker in transitioning to electric vehicles and proposes strategies for maintaining a sustainable business. Special thanks to Professor Stuart L. Hart and Nick Rojas for all the support and guidance, Sandra Draheim for helping us get published, and to the William Davidson Institute and Harvard Business Publishing for publishing the case study. For those interested in diving deeper, you can access the case study here: Harvard Business Publishing: https://lnkd.in/gzcATUkT William Davidson Institute: https://lnkd.in/gATkTyed #Sustainability #ElectricVehicles #GeneralMotors #CaseStudy #WilliamDavidsonInstitute #HarvardBusinessPublishing

The transition to electrification requires more than product innovations and new factories. At the heart of this revolution is the workforce that will dedicate itself educating consumers on the benefits & costs and calming their "range anxiety" fears. “When it comes to EV sales, the market is likely heading into its Trough of Disillusionment ... where collaboration across many parties will be necessary to push through,” Cox Automotive said in a release. “Building EVs is one thing, and many in the industry are proving excellent at that skill. Selling EVs is something different altogether.” Productions Plus #ElectricVehicles #EVs #ElectricCars #CleanEnergy #SustainableMobility #GreenTransport #ZeroEmissions #EVTechnology #FutureOfTransportation