The Race is on for Better
#EV #Batteries for #Automakers; (NYSE: $KULR) NASDAQ: $NKLA) (NYSE: $F) (NYSE:
$GM) @KULRTech @nikolamotor @Ford @GM
They can’t do it
alone
Vancouver,
Kelowna, Delta, BC – August 21, 2023 - Investorideas.com, a
leading investor news resource covering clean energy and battery stocks
releases a special news report on automakers and the need for better and safer EV
batteries, featuring KULR
Technology Group, Inc. (NYSE:KULR), a
leading energy management platform company accelerating the global transition
to a sustainable electrification economy.
Read this article,
featuring KULR in full at https://www.investorideas.com/news/2023/renewable-energy/08211Automakers-EV-Batteries.asp
Recent
research shows
estimates that the USD 49.0 billion electric vehicle battery market will reach
USD 421.1 billion by 2032. Globally renowned automakers such as General Motors (NYSE: GM), BMW, Volkswagen and Ford Motor Company (NYSE: F) are
increasing their focus on introducing various types of electric vehicles to the
market.
With
the big push for electric vehicles, the battery story is still evolving, especially
when it comes to safety.
With a mission of batter safety, KULR
Technology Group, Inc. (NYSE: KULR) recently announced it received a contract from one of the world’s top-selling automakers for testing and analysis of high-energy
battery cells for its next generation electric vehicles. The Company will
implement its KULR ONE Design Solutions (“K1-DS”) platform to accelerate design
readiness for the Automaker's advanced EV roadmap.
From
the news: KULR’s rigorous testing protocols
incorporate its extensive spaceflight expertise and proprietary KULR ONE Design
Solutions to deliver what KULR believes to be the world’s most rigorous testing
platform for battery safety. These tests include Fractional Thermal Runaway Calorimetry, bomb
calorimetry, and impingement zone mapping. By providing a uniquely thorough
cell-level characterization of the customer’s cells, KULR is able to provide
its customers what it believes to be globally unique insight into how to
optimize battery safety.
From
the news: Recently, EV automakers have been
looking to high-performance, silicon-anode
batteries and other technologies to improve
the driving range and cut costs of future electric vehicles. Batteries
utilizing silicon as an alternative to graphite - anodes commonly employed in
present-day batteries - have demonstrated the capability to achieve
substantially greater energy density and accelerated charging rates making
KULR’s industry standard setting rigorous testing and safety solutions even more
essential and mission critical.
"Understanding high power and high-energy cell
safety, whether it's lithium-ion, solid state, or silicon-anode, is absolutely
essential if automakers want to develop a best in breed battery cell,"
commented KULR CEO Michael Mo. "KULR utilizes a superior testing protocol
for analyzing battery characteristics regardless of cell chemistry. K1-DS
accounts for all testing variability -- including the continuous swelling and
shrinking during charging and discharging in silicon anodes. Ultimately,
through our in-development AI applications learning from this testing data, we
believe that KULR is strategically positioned to continue delivering
best-in-class solutions for end-to-end battery safety across all applications
and all cell chemistries."
From
the news: According to a projection by
the International Energy Agency in April
2023, electric
vehicles, encompassing both fully electric and plug-in hybrid models, are
anticipated to account for 35 percent of new vehicle sales worldwide by 2030.
KULR also just announced
second quarter 2023 financial results and full-year revenue guidance.
From
the news: Revenues: In the second quarter ended
June 30, 2023, revenue increased to $2.7 million from $0.6 million reported in
the same period last year for an approximately 360% increase. Contract Services
revenue increased over 2300%, with second quarter 2023 contract services
revenue of approximately $0.7 million versus $0.03 million in the prior year
period. Product revenue for the quarter ending June 30, 2023, was approximately
$2.0 million from approximately $0.6 million the same period last year for an
increase of over 250%.
From
the news: KULR Chief Financial Officer Shawn
Canter affirmed: “KULR posted a strong second quarter with over 350% revenue
growth over the same quarter last year. KULR recorded more revenue in the first
half of 2023 than all of 2022. These impressive growth figures demonstrate our
team, technology, and standard setting solutions, continue to address mission
critical needs across industries. Management is increasingly excited by this
trend in growth, pipeline, and prospects. Given what our team is seeing today,
management estimates 2023 full year revenue between $10 million and $14
million.”
Just how much of an issue is battery safety? Ask Nikola Corporation (NASDAQ: NKLA)
when it’s stock was punished following news
on August 11th.
“The safety of customers, dealers and team members are
Nikola’s top priority. Nikola Corporation, a global leader in zero-emissions
transportation and energy supply and infrastructure solutions, via the HYLA
brand, today provides the preliminary results of its battery pack
investigations and as a precautionary measure, announces a voluntary recall of
approximately 209 Class 8 Tre battery-electric vehicles (BEVs). Nikola is
currently in the process of filing this voluntary recall with the National
Highway Traffic Safety Administration (NHTSA) and is placing a temporary hold
on new BEV sales until a resolution is in place.”
From
the news: These actions do not affect the
hydrogen fuel cell electric vehicle (FCEV) currently in production as the
truck’s battery pack has a different design.
From
the news: Following an August 10 presentation
of preliminary findings from Exponent, a reputable third-party investigator, a
coolant leak inside a single battery pack was found to be the probable cause of
the truck fire at the company’s headquarters in Phoenix, Ariz. on June 23,
2023. The findings were further corroborated by a minor thermal incident that
impacted one pack on an engineering validation truck parked at the company’s
Coolidge, Ariz. plant on Aug. 10. No one was injured in either incident.
From
the news: Internal investigations from Nikola’s
safety and engineering teams indicate a single supplier component within the
battery pack as the likely source of the coolant leak and efforts are underway
to provide a field remedy in the coming weeks.
Ford Motor Company (NYSE: F) also had its share of EV battery safety issues earlier
this year.
Fordauthority.com reported on the issue: “The Ford F-150 Lightning has faced its
fair share of production woes in recent weeks, all of which started when a
single pickup caught fire in a holding lot. The cause of that problem stemmed
from its battery – which is supplied by SK On – and has since been identified
and corrected, according to that company and The Blue Oval. 2023 Ford F-150
Lightning production is expected to restart at the Rouge Electric Vehicle
Center today, March 13th, while employees at that facility and the Rawsonville
Components Plant – where the Lightning’s battery packs are assembled – will
soon be back at work. Now, however, a total of 18 Ford F-150 Lightning models
are bering recalled over this same battery issue, according to CNBC.”
Back on track, Ford Motor Company reported
early this month it has resumed production of the F-150 Lightning following a
six-week shutdown to expand and retool the Rouge Electric Vehicle Center plant
to triple manufacturing capacity of the award-winning electric truck.
From
the news: With the expansion, Ford will have
ability to produce the F-150 Lightning at an annualized rate of 150,000 units
by this fall.
Betting on improved battery safety, General Motors Co. (NYSE: GM) announced
in late June that it acquired substantially all the assets of Israel-based
battery software startup ALGOLiON Ltd. for an undisclosed sum.
From
the news: The acquisition was led by the newly
formed Technology Acceleration and Commercialization (TAC) organization, a group
within GM that works to identify emerging technology that can support GM’s
leadership position in battery development through investments, acquisitions or
partnerships.
From
the news: ALGOLiON, which received early
support from the Israeli Innovation Authority, was founded in 2014 by Niles
Fleischer, Ph.D., and Alex Nimberger, Ph.D. The company has developed
sophisticated software that uses data streams from EV battery management
systems to help identify anomalies in cell performance to ensure proper vehicle
health management and provide early detection of battery hazards including
thermal runaway propagation events. Dr. Fleischer has more than 40 years of
experience in the battery industry and more than 80 patents in the field, while
Dr. Nimberger has deep military and civilian experience in all aspects of
lithium-ion battery operating modes and effects analysis.
From
the news: ALGOLiON’s software, coupled with
GM’s internal capabilities and vast experience in delivering best-in-class
products at scale, can greatly accelerate time-to-market of a cost-effective
early hazard detection system for the benefit of millions of GM’s customers
worldwide.
“ALGOLiON has developed cutting edge battery analytics and
prediction software that will help General Motors deliver great performing EVs
for our customers,” said Gil Golan, Vice President, TAC.
Looking
at the need for better and safer EV batteries, The Financial Post points
out a very valid point as we experience global heat domes, “Consider it ironic, or at least a little
poetic: Electric vehicles, great for combating climate change, don’t do well in extreme heat. It’s a paradox being
thrown into relief as multiple US states bake under heat waves that are
becoming more frequent and more intense.”
The
EV and battery markets continue to evolve as new safety, range and
infrastructure issues arise. For consumers and investors in the sector, the
best battery is still to come.
Visit
the clean energy and battery stocks free directory at Investorideas.com
https://www.investorideas.com/Enviro_Stocks/Stock_List.asp
About Investorideas.com -
Big Investing Ideas
Investorideas.com is a platform for investing ideas. We
publish breaking stock news, stock research, guest posts and create original
top rated investing podcasts, plus sector tag articles featuring up and coming
companies and industry leaders. Investor
Idea’s original branded content includes the Crypto
Corner Podcast , Play by Play Sports Podcast , Cannabis
News and Stocks on the Move Podcast , Cleantech and Climate Change Podcast, Exploring Mining Podcast , Betting on Gaming Stocks Podcast
and the AI Eye Podcast. We
also create free investor stock directories for AI and tech, biotech, cannabis,
cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas,
sports and water.Public
companies within the sectors we cover can use our news publishing and content
creation services to help tell their story to interested
investors.
Disclaimer/Disclosure: Our
site does not make recommendations for purchases or sale of stocks, services or
products. This is not investment
opinion: Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Contact management and IR of
each company directly regarding specific questions. Disclosure: this
news article featuring KULR is a paid for news release on Investorideas.com - More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other
news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country.
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Contact
Investorideas.com
800-665-0411
RenewableEnergyStocks.com:
investing ideas in renewable energy stocks
Like
Renewable Energy Stocks? View our Renewable
Energy Stocks Directory
Get News
Alerts on Renewable Energy Stocks
Get
more Automotive Stocks
Investor Ideas – news, articles and stock
directories
Posts
No comments:
Post a Comment