Ford Forecasts 2023 EV Division Loss of $3BN: In It For The Long Haul

GE Hitachi, TVA, OPG, and Synthos Green Energy join to advance progress on GE/Hitachi SMR for global deployment; Ford Motor Company expects 2023 EV division loss of $3 billion; China auto OEM JAC shows off EV w/sodium ion battery; LGES w/$5.6 billion investment for AZ battery factory; Albemarle Corp will build $1.3 bn SC lithium processing plant – enough to supply 2.4 mn EVs; Convenience store 7-11 developing network of level 3 fast-charging stations in U.S. & Canada; Level Ten Energy and Google Cloud announce new platform to accelerate PPA contracting; IRENA reports that 83 % of new 2022 global generating capacity came from renewables. 

1) GE Hitachi Nuclear Energy, Tennessee Valley Authority, Ontario Power Generation, and Synthos Green Energy teaming up w/up to $400 mn of support to advance progress on GE/Hitachi 300 small modular reactor and promote global deployment. 

2) Ford Motor Company projects 2023 EV division loss of $3 billion, as it gears up for the future, anticipating 8% EV margins by 2026.

3) Chinese automaker JAC unveils test version of EV equipped w/sodium-ion batteries (no lithium or cobalt).

4) LG Energy Solution plans on $5.6 billion investment for a battery factory in AZ, to produce EV and energy storage batteries on separate lines.

5) Albemarle Corp will build $1.3 bn S. Carolina lithium processing plant – enough for 2.4 mn EVs annually. Inputs to come from ore mined in NC and used batteries.

6) Convenience store chain 7-11 plans a network of level 3 fast-charging stations in the US and Canada addressing CCS, ChadeMo, and Tesla.

7) Level Ten Energy and Google Cloud collaborate on new platform to accelerate power purchase agreement contracting process from a year to as little as 2-3 mos.

8) International Renewable Energy Agency reports that 83 % of new generating capacity last year came from renewables, warns numbers need to triple by 2030 to meet climate goals.