5 min read

Newsletter | $11m in fossil subsidies every minute – LG takes the $1.9B Bolt blame

Make sure you open next week's newsletter when it drops next Thursday. I'm aiming for 11 am ET / 3 pm GMT.

That's when I'm launching the next leap in the EV Universe evolution.

There will be some perks if you're early. I think you'll like it.

- Jaan


Your input needed

Who's awesome? You are!

What would you find valuable here in the future? What should I build into the EV Universe ecosystem? Your wildest dreams are welcome.
Drop me a note in the Google form here: (link). Anonymity optional.


⚡ The Znippets

  • You can find the analysis on why I think General Motors is full of it in their "we'll become the EV sales leader in the US in 2030" prediction on our last week's EV Industry² newsletter. I also covered Tesla's Annual Shareholder Meeting there. Spoiler - Tesla moves its HQ to Austin, Texas.
Don't Mess with Texla
  • Bada bing, bada boom, LG will pay for Bolt's doom. GM's Bolt battery recalls which we've covered way too much already, will be reimbursed by LG Electronics. That's $1.9B. (link)
  • EVENT: e_mob in Milano, Italy from 16-19th Oct. (link) I think every  mobility event in Italy should shorten the word mobility exactly like that.
  • GRAPH: Visual Capitalist compared 2020 SEC filings to see how much automakers spend on R&D and ads. Tesla is lowest on ads and way highest on R&D. Here's the rundown (link):
Visual Capitalist graph
  • Giga-fest, the crazy Tesla Giga Berlin factory opening party I decided not to go to (khm, didn't manage to get invited), also gave a bunch of sneak peeks into the production:
  • Giga Berlin's first goal is to produce one Model Y body every 45 seconds. Elon says with an uptime of 75% avg, they'll produce 10k per week (link).
  • Tesla showed the Model Y with new 4680 structural pack (link), pic below. AND the front and rear single-piece mega castings, which I think will be another 'gamechanger' (link). Also, looks like the seats will be mounted directly on the structural battery (link).
  • Looks like the Tesla Tequila equivalent of Europe is Gigabier, in a Cybertruck-themed bottle (link)
  • The 4680 cells will be mass produced in Germany late 2022.
  • Here's a proper gallery (photos), Elon's speech including him trying to speak German (video) and Tesla Welt's insights of the event (video).
Structural pack
  • More on Tesla: its CCS adapter is finally coming, for the Model 3 and Y, per its Korean release (link). This, if also launched in the US, would allow the M3 and MY owners finally use the rest of the chargers.
  • If you happen to be one of our Estonian readers, you can hear me chat, together with ABB's Danel Türk, about EVs on the Äripäeva Raadio here (link).
  • Prices of lithium carbonate, assessed by Benchmark, have reached new all-time highs on the back of limited supply and sustained battery demand in China. (link)
  • Remember the curious case of a Tesla owner from China claiming brake failure and unintended acceleration in a 2020 accident, then taking it to court but losing, then got countersued by Tesla? The owner is now ordered by the court to issue an apology on the same social media it used to (wrongly) blame the company after losing the case (link).
  • STOCKS: Pod Point, the EV charger provider and operator, plans to IPO on the London Stock Exchange (link).
    Connection: Pod Point was acquired by the European energy company EDF early 2020. That was an exit for a bunch of investors from previous crowdfunding campaigns.

    Btw, as Pod Point has a partnership with Nissan, we've had a bunch of these pods up (exactly like the one pictured below) for our e-taxi fleet for at least 6 years and they've been working well. And I'm talking heavy usage here. Great to see them IPO.
PodPoint
  • CATL announced a $5B battery recycling facility in a joint venture with Hubei Yihua Chemical Industry Co, in the Hubei province. (link)
  • If you're a Lego fan: MEGA x Cybetruck, a 3,000 piece building set drops in less than 23 hours.
Mattel

🗯️ Watch This:

Bjørn Nyland is testing the BMW i4 M50:

Jay Leno drives the Aptera Alpha on public roads:

An interview with JB Straubel of Redwood Materials. My favourite part is his take on all carmakers and countries saying they'll go 100% EV: "I don’t think that they have done the math fully when it comes to what it entails in the supply chain and tracing it all the way back to the mines."

Well worth the watch. I'd say he's one of my role models in the EV industry.


📚 THE RESOURCE CENTER:

🗺️ Map of the EV Universe with 678 mapped connections and changelog,
📈 EV Stock Tracker with 118 EV stocks. So many SPACs have grown up...
🗯️ EV Universe Twitter with 1,613 I-make-myself-chuckle EV tweets,
📚 EV industry² newsletter OPT-IN for the extra-detailed EV juice.
📗 EV Universe Blog with 100+ past articles & newsletters.
🎙️ The EV Universe Pod with 2 podcast episodes.
📹 EV Universe Youtube channel with 7 videos.


A reminder of what we're up against:

IMF found that in 2020, fossil fuel subsidies were $5.9 trillion globally. That's about 6.8% of the global GDP.

Yeah, this is what we're up against. About $11M is dropped as fossil fuel subsidies every minute.

Yes, we can't remove it all, instantly. But just imagine the EV industry and renewables fighting against that. These are subsidized too, but not remotely in the same ballpark. If you'd remove these, which way would the world really turn?

If you're looking at renewables and EVs, you're already looking at the obvious future. It just makes sense now.

Here's where you can get the IMF's full 42-page working paper, free (link to pdf).


This letter went out to 1,404 subscribers.

You can ☕ buy me a coffee to add zap to my writing to keep me going. ⚡

Enjoying these posts? Subscribe for more