BMW signed a deal with Northvolt for $2.3 billion of battery cells to power the automaker’s electric cars: Northvolt, a Swedish company started by two former Tesla executives, will manufacture the cells using renewable electricity at a new plant in northern Sweden, BMW said in a statement. Local access to batteries is becoming key for automakers trying to become less dependent on dominant suppliers in Asia. Northvolt will become BMW’s third major supplier for the technology, along with China’s CATL and South Korea’s Samsung. Northvolt raised $1 billion last year from Volkswagen Group, Goldman Sachs and BMW to build the battery-cell factory. Source: Automotive News Europe
DOE releases draft energy storage grand challenge roadmap: The U.S. Department of Energy (DOE) released the Energy Storage Grand Challenge Draft Roadmap and a Request for Information seeking stakeholder input on the Draft Roadmap. Announced in January 2020 by U.S. Secretary of Energy Dan Brouillette, the Energy Storage Grand Challenge is a comprehensive program to accelerate the development, commercialization, and utilization of next-generation energy storage. Over the Fiscal Years 2017-2019, DOE has invested over $1.2 billion into energy storage R&D. Source: DOE
A new E2 analysis finds that the U.S. could create 860,000 full-time jobs for at least five years and add $66 billion to the nation’s economy every year for five years if targeted clean energy investments were included in the next round of federal stimulus investments. The report modeled the economic benefits of $99.2 billion of federal stimulus invested in existing programs and funding vehicles in three specific areas: renewable energy, energy efficiency and grid modernization. Source: E2
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