The Electric by Steve LeVine — The Information

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The Electric

By Steve LeVine

The Electric is a publication from Steve LeVine and The Information focused on crucial industries for the energy transition, including next-generation batteries, electric vehicles and autonomous driving. The newsletter is only for subscribers of The Information.

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Recent Editions

Digit, Agility Robotics' humanoid. Photo: Getty

The Electric: Humanoid Robots Are Cool—but How Will Their Battery Problem Be Solved?

By Steve LeVine · Jan 27, 2025 4:30am PST · 3 comments

Adam Jonas made his name as one of the biggest Tesla bulls. These days, people are flooding the Morgan Stanley analyst with questions about humanoid robots. The volume of calls has exceeded “the entirety of our [automaker], dealer and supplier coverage combined,” he said in a note Friday. Adam Jonas made his name as one of the biggest Tesla bulls. These days, people are flooding the...

With an executive order this week. Photo: Getty

The Electric: Battery Makers Scramble to Save Their Federal Grants and Loans

By Steve LeVine · Jan 23, 2025 4:30am PST

U.S. auto and battery makers are scrambling to safeguard more than$100 billion in loans, grants and tax credits that President Donald Trump froze this week in a crackdown against what he called the “green new deal. U.S. auto and battery makers are scrambling to safeguard more than$100 billion in loans, grants...

Jigar Shah, head of the Energy Department's Loan Programs Office. Photo by Getty

The Electric: The Biden Team Awards Battery Loans to the Last Minute

By Steve LeVine · Jan 16, 2025 4:30am PST

In the final days of a four-year campaign to reindustrialize the U.S., the Biden administration on Wednesday announced a conditional $1.3 billion loan to a lithium extraction project at the Salton Sea in California.The loan to California-based EnergySource Minerals was the 39th made by the Department of Energy’s Loan Programs Office under... In the final days of a four-year campaign to reindustrialize the U.S., the Biden administration...

Archer Aviation's future commercial air taxi, Midnight. Photo: Getty

The Electric: A Bet on Hybrid Fighter Aircraft and a Friendship With Trump

By Steve LeVine · Jan 13, 2025 4:30am PST

Archer Aviation's future commercial air taxi, Midnight. Photo: Getty

The Electric: A Bet on Hybrid Fighter Aircraft and a Friendship With Trump

By Steve LeVine · Jan 13, 2025 4:30am PST

Electric air-taxi startups, with their billions of dollars of development costs, have seemed like a long shot: In the next year or two, regulators will likely certify one or more of the startups to carry passengers, but no one knows how many people will want to fly in them, or whether they will be willing to pay enough and use them often enough... Electric air-taxi startups, with their billions of dollars of development costs, have seemed like...

Photos: Getty

The Electric: China Wants to Block the West From Catching Up in Batteries

By Steve LeVine · Jan 9, 2025 4:30am PST

Less than two weeks before the inauguration of President-elect Donald Trump, the U.S. and China have escalated their tit-for-tat battery war, part of their rivalry to dominate the next generation of strategic technologies. Less than two weeks before the inauguration of President-elect Donald Trump, the U.S. and China...

SES AI CEO Qichao Hu. Photo: Courtesy SES AI

Exclusive From The Electric: After a Topsy-Turvy Year, SES AI Surprises With a Silicon-Based Battery

By Steve LeVine · Jan 6, 2025 4:30am PST

Last year was tough for Western makers of electric vehicles and batteries. Industry leader Tesla sold fewer cars than in 2023. Upstart battery makers declared bankruptcy and shifted their attention to solar panels or smartphones. Last year was tough for Western makers of electric vehicles and batteries. Industry leader Tesla...

Photo: Brandon Bell/Getty

The Electric: Tesla Struggled to Sell Cars in 2024, and That May Continue in 2025

By Steve LeVine · Jan 2, 2025 4:30am PST · 4 comments

Two of Tesla CEO Elon Musk’s big bets in 2024 paid off in spades: Investors pushed up Tesla shares 63% on Musk’s claim that the company was no longer a mere carmaker, but a developer of artificial intelligence applications like driverless cars and humanoid robots. And, on the back of some $250 million in campaign donations, Musk became the most... Two of Tesla CEO Elon Musk’s big bets in 2024 paid off in spades: Investors pushed up Tesla...

Photo: Getty

The Electric: While Musk Rides High With Trump, His Empire Faces a Multifront Challenge

By Steve LeVine · Dec 16, 2024 4:30am PST

Photo: Getty

The Electric: While Musk Rides High With Trump, His Empire Faces a Multifront Challenge

By Steve LeVine · Dec 16, 2024 4:30am PST

Tesla is always out to sell cars, but this month it’s really out to sell cars: In both the U.S. and China, customers can take a five-year, Tesla-financed loan on one of its electric vehicles at 0% interest. They can get three months of free charging at its Supercharger stations and three months of free use of its autonomous driving software, not... Tesla is always out to sell cars, but this month it’s really out to sell cars: In both the U.S....

Photo by Gary Hershorn via Getty

The Electric: Low-Cost Batteries Have Made Some EVs as Cheap as Gas Cars

By Steve LeVine · Dec 12, 2024 4:30am PST

The price of lithium-ion batteries fell below a long-sought threshold this year—but prices need to fall still further to make most electric vehicles competitive with similar gas-powered cars, according to BloombergNEF, a renewable energy research firm.BNEF said in its annual price survey that the average global price for EV battery packs fell... The price of lithium-ion batteries fell below a long-sought threshold this year—but prices need...

Group14's coming silicon anode production plant in Moses Lake, Wash. Photo: Courtesy Group14

The Electric: AI Mania Provides Welcome Demand for Struggling Next-Gen EV Battery Developers

By Steve LeVine · Dec 9, 2024 4:30am PST

The slowdown in sales of electric vehicles has led to smaller and postponed orders for next-generation batteries. But some next-gen battery makers are eyeing a lifeline from an unexpected source: artificial intelligence. The slowdown in sales of electric vehicles has led to smaller and postponed orders for...

The 2024 Chevrolet Blazer, displayed in March at the New York International Auto Show. Photo: Bing Guan/Bloomberg/Getty

The Electric: U.S. Auto and Battery Makers Are Poised to Fight Trump’s Anti-EV Plans

By Steve LeVine · Dec 5, 2024 4:30am PST

U.S. auto and battery makers are challenging President-elect Donald Trump’s plans to eliminate or curtail federal subsidies on electric vehicles and battery materials. If Trump proceeds with his plans, they say, he would cost consumers thousands of dollars per vehicle and hurt their efforts to compete with Chinese rivals. U.S. auto and battery makers are challenging President-elect Donald Trump’s plans to eliminate or...

Byd introduces its electric Shark pickup in Mexico City in May. Photo: Photo: Mariceu Erthal/Bloomberg/Getty

The Electric: How Trump Set the Stage for a Grand EV Bargain With China

By Steve LeVine · Dec 2, 2024 4:30am PST

Byd introduces its electric Shark pickup in Mexico City in May. Photo: Photo: Mariceu Erthal/Bloomberg/Getty

The Electric: How Trump Set the Stage for a Grand EV Bargain With China

By Steve LeVine · Dec 2, 2024 4:30am PST

Last March, President-elect Donald Trump, addressing a campaign rally in Dayton, Ohio, dove into a recurring theme: Chinese automakers were planning to build plants in Mexico and export their electric cars into the U.S. tariff free, exploiting a loophole in the U.S.-Mexico-Canada free trade treaty. Trump said that if elected, he would stop them... Last March, President-elect Donald Trump, addressing a campaign rally in Dayton, Ohio, dove into...

Northvolt CEO Peter Carlsson announces his resignation last week. Photo: Getty

The Electric: Northvolt’s Blunt Message to Fellow Battery Startups—Don’t Expect a Bailout

By Steve LeVine · Nov 25, 2024 4:30am PST · 2 comments

Around a year ago, Swedish batterymaker Northvolt was feted in Europe and North America as the West’s answer to China’s dominance of lithium-ion battery production. The Quebec and Canadian governments committed $1.9 billion in subsidies toward a Northvolt battery plant near Montreal, and the EU provided a $5 billion loan toward a Northvolt... Around a year ago, Swedish batterymaker Northvolt was feted in Europe and North America as the...

Photo: Getty

The Electric: Does Tesla Really Stand to Prosper From the Trump Presidency?

By Steve LeVine · Nov 21, 2024 4:30am PST · 4 comments

Since Donald Trump won reelection as president, many investors have assumed that the chief beneficiaries would include businesses run by Elon Musk, his biggest financial backer and recently his frequent companion. Investors have pushed up the share price of Musk’s one listed business—Tesla—36% since the Nov. 5 election. Since Donald Trump won reelection as president, many investors have assumed that the chief...

Lucid CEO Peter Rawlinson. Photo: Andrey Rudakov/Getty

The Electric: Lucid, Rivian Cut Licensing Deals to Save Themselves—and Struggling Rivals

By Steve LeVine · Nov 18, 2024 4:30am PST

Lucid Motors CEO Peter Rawlinson is hoping to license the technology behind the electric vehicles he is developing as an additional source of revenue beyond the sale of the company’s premium EVs.In interviews I conducted with Rawlinson for a Big Read profile, he said Lucid was developing a drivetrain to power a mainstream $25,000 EV. But he said... Lucid Motors CEO Peter Rawlinson is hoping to license the technology behind the electric vehicles...

Novonix's new graphite factory in Chattanooga, Tenn. Photo: Courtesy Novonix.

The Electric: A Stellantis Contract With a Startup Shows Rare Confidence in EVs

By Steve LeVine · Nov 14, 2024 4:30am PST

Novonix's new graphite factory in Chattanooga, Tenn. Photo: Courtesy Novonix.

The Electric: A Stellantis Contract With a Startup Shows Rare Confidence in EVs

By Steve LeVine · Nov 14, 2024 4:30am PST

In a rare sign of confidence in the future of electric vehicles under President-elect Donald Trump, Stellantis has agreed to buy a six-year supply of battery-grade graphite from a new Chattanooga, Tenn., plant, enough to make roughly 300,000 EVs. In a rare sign of confidence in the future of electric vehicles under President-elect Donald...

Trump in Detroit. Photo: Getty

The Electric: Trump Invited China’s EV Makers to Build in the U.S. Will He Follow Through?

By Steve LeVine · Nov 11, 2024 4:30am PST · 2 comments

Campaigning for a second term as president, Donald Trump vowed repeatedly to kill laws and regulations promoted by President Joe Biden to build a U.S. electric vehicle and battery industry. Campaigning for a second term as president, Donald Trump vowed repeatedly to kill laws and...

Former President Donald Trump with Tesla CEO Elon Musk. Photo by The Washington Post via Getty

The Electric: Elon Musk May Be an Ace in China’s Pocket in Its Dealings With Trump

By Steve LeVine · Nov 7, 2024 5:15am PST

Donald Trump’s election could put Tesla CEO Elon Musk in a tough spot, caught between his support for the president-elect and Trump’s tough stance toward China, Tesla’s second-biggest market. But Musk could instead thrive by proving a valuable bridge between Trump and Chinese leader Xi Jinping, I write today in a piece with my colleagues Rachel... Donald Trump’s election could put Tesla CEO Elon Musk in a tough spot, caught between his support...

Rept's booth at a recent industry conference. Photo: Courtesy Rept

The Electric: How One Chinese Battery Company Views the U.S. Election

By Steve LeVine · Nov 4, 2024 4:30am PST

Chinese metals giant Tsingshan Holding Group has roiled the world of nickel, selling enormous volumes of the metal at cheap prices that have prompted several rivals to shut mines in Australia. Now it is seeking a share of the U.S. battery market, selling iron-based batteries for energy storage and electric vehicles through its Irvine, Calif.,... Chinese metals giant Tsingshan Holding Group has roiled the world of nickel, selling enormous...

The Byd Qin L, a plug-in hybrid that the company claims delivers 780 miles of driving range. Photo: VCG/Getty

The Electric: Automakers Are Turning to ‘Good Enough’ EVs

By Steve LeVine · Oct 28, 2024 4:30am PDT

The Byd Qin L, a plug-in hybrid that the company claims delivers 780 miles of driving range. Photo: VCG/Getty

The Electric: Automakers Are Turning to ‘Good Enough’ EVs

By Steve LeVine · Oct 28, 2024 4:30am PDT

For 13 years—from 2010 until 2022—General Motors sold more vehicles in China than anywhere else in the world. The ace in GM’s pocket was its premium Buicks, which Chinese consumers snapped up year after year, with sales peaking at 1.3 million cars in 2016. For 13 years—from 2010 until 2022—General Motors sold more vehicles in China than anywhere else...