The Electric: A Layoff Surge in EV Batteries
Traditional and next-generation electric vehicle battery companies have laid off hundreds of employees in the U.S. and Europe in the last couple of weeks, a symptom of a new industry malaise triggered by lower-than
The 25 battery tech startups that just got a piece of
The DOE also awarded venture-backed battery recycling startup Ascend Elements $125 million, alongside chemical manufacturing company Orbia, to build a recycled graphite production facility in
Rivian''s EV Layoffs: Q3 Shifts and Impact on Battery Team
Accompanied by significant shifts in the electric vehicle (EV) sector, a notable development has emerged. Rivian Automotive Inc. has reportedly laid off around 20 employees, including key members from its long-range battery cell
The Future of Energy Storage | MIT Energy Initiative
MITEI''s three-year Future of Energy Storage study explored the role that energy storage can play in fighting climate change and in the global adoption of clean energy grids. Replacing fossil fuel-based power generation with power
Wärtsilä maybe divesting energy storage ''driven by lower margins''
"The industry is generally moving to owning more of its own manufacturing whereas Wartsila currently uses contracted manufacturing. If down the line they say they need
Volta Energy Technologies raises over $90M of a
The new fund from Volta has already backed a number of new energy storage and enabling technologies, including: Natron, which develops high-power, fire-safe Sodium-ion batteries using Prussian
South Korean EV battery makers lay off workers and
Aided by tax credits under President Joe Biden''s flagship climate legislation, the South Korean battery companies have made themselves integral to EV manufacturing in the US, setting up joint
US Energy Storage Market
The United States Energy Storage Market is expected to reach USD 3.45 billion in 2024 and grow at a CAGR of 6.70% to reach USD 5.67 billion by 2029. Tesla Inc, BYD Co. Ltd, LG Energy Solution Ltd, Enphase Energy and Sungrow
Thousands of jobs to go as chemicals giants cut costs
The global chemicals sector is reacting to economic pressures by cutting thousands of jobs to save on costs. Dow''s plan to save $1 billion (£826 million) in 2023 includes laying off about
COVID-19 disrupts battery materials and manufacture supply chains
Economic uncertainty and mass layoffs have curtailed consumer spending and have driven down the demand for top-of-the-line mobile phones and tablets. These factors threaten the vitality of
Bay Area solar company Enphase Energy lays off hundreds as
E nphase Energy, a Fremont-based solar technology and electric vehicle charger company, is laying off about 500 workers. It''s a continuation of a bleak trend in the solar and battery
4 FAQs about [Energy storage battery industry layoffs]
Why are battery companies struggling?
Call it new industry growing pains: Companies are struggling to bridge the gap between early-stage products and the high-volume production that will be needed down the line, reports The Information. Battery makers also are looking to save cash as costs surge and investors move their funding to less risky prospects.
Is LG laying off 170 workers in Michigan?
LG Energy Solution, one of the world’s top three EV battery producers that has joint ventures with General Motors, Honda and Hyundai in the US, announced this month it was laying off 170 workers at its plant in Michigan.
Why is E nphase laying off 500 workers?
E nphase Energy, a Fremont-based solar technology and electric vehicle charger company, is laying off about 500 workers. It’s a continuation of a bleak trend in the solar and battery industries; large cuts and even full-scale shutdowns have plagued the Bay Area in 2024.
Does LG Energy Solution have a bright future in the automotive industry?
“LG Energy Solution continues to grow and has a bright future in the automotive industry,” the company said, adding that it planned to hire about 1,000 more workers once its plant expansion in Michigan is completed in the third quarter of next year.