Electric Vehicles

Brazil Seeks $2.7 Billion Investment for Lithium Production

Brazil’s Ministry of Mines and Energy said on Thursday that it hopes to attract over $2.7 billion in foreign investments to develop its lithium industry by the end of this decade. Lithium is a vital component for batteries, including those employed by electric vehicles.

From left, electric cars from Nissan, Tesla, and Toyota are presented at a news conference in Los Angeles on Dec. 13, 2013. Worldwide demand for lithium was about 350,000 tons (317,517 metric tons) in 2020, but industry estimates project demand will be up to six times greater by 2030. (Nick …

Ford CEO Jim Farley: A ‘Huge Price War’ Is Coming to Electric Car Market

Ford CEO Jim Farley recently stated that he believes that the electric car market will soon enter a price war with upcoming models costing as little as $25,000. Farley seems thrilled with the prospects of manufacturing electric vehicles, which may impact manufacturing employment. He describes EVs as “Half the fixtures, half the work stations, half the welds, 20% less fasteners. We designed it, because it’s such a simple product, to radically change the manufacturability.”

James Farley, president and chief executive officer of Ford Motor Co., speaks during a launch event for the 2022 Ford F-150 Lightning all-electric truck at the Rouge Electric Vehicle Center in Dearborn, Michigan, U.S., on Tuesday, April 26, 2022. Ford has 200,000 reservations for the F-150 Lightning and is expanding …