FREMONT, CA—Tesla Motors, which has been moving quickly to keep up with demand for its Model S, is getting a $34.7 million tax break that will help it expand production.
HOLLAND, MI—LG Chem Michigan shipped out the first set of electric vehicle batteries from its assembly plant here. The batteries will be installed in Chevy Volts.
STOCKHOLM—Volvo has developed a new concept for lightweight structural energy storage components, in a bid to enhance the use of energy for future electrified vehicles. The new component includes carbon fibers, nano structured batteries and super capacitors.
SMYRNA, TN—A good, old-fashioned price war may be just what’s needed to give a jolt to the electric vehicle market in North America. Nissan, Ford and GM have each lowered the price of their electric vehicles by thousands of dollars, spurring increases in production.
GRAND BLANC TOWNSHIP, MI—Magna E-Car Systems’ creation of a new assembly plant here helped Michigan add 14,600 manufacturing jobs in 2012, according to Manufacturers’ News Inc.
WASHINGTON—The U.S. Department of Energy has seized $21 million from troubled automaker Fisker Automotive Inc. just weeks after the company laid off three-fourths of its workers amid continuing financial and production problems. Fisker had received $192 million in federal loans before a series of problems led U.S. officials to freeze the loan in 2011.
DETROIT—Sales of lithium ion batteries are expected to grow from $1.6 billion in 2012 to $22 billion by 2020, according to a report from Pike Research.