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Many news outlets are saying we're in an EV winter, but the data tells a different story. In reality: - Global EV sales growth is still positive, driven by China , where June sales are up 13% YoY 📈 - Sales in the US are flat, largely due to tightening eligibility requirements for the $7,500 EV tax credit📜 - Sales in Europe have fallen slightly, but only in countries which have slashed EV subsidies: Germany, Finland, Sweden, and Ireland. The growth trend will re-emerge once China's EV purchases kick into high gear in December. The world's largest automotive market is highly seasonal, with many purchases happening right before Lunar New Year. In the West, consumers still want EVs, but cannot afford the high-cost models being produced by local automakers without subsidies. 💰💰💰 Affordability is the key to electromobility. It's high time the West moves beyond expensive ternary battery technologies and embraces LFP, LMFP, and sodium-ion for mobility.
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…is somebody going to tell them that the most American made car is actually an EV? https://lnkd.in/gpJHpNBR
SENATOR VANCE UNVEILS LEGISLATION TO ELIMINATE BIDEN EV CREDITS & PROMOTE DOMESTIC AUTO MANUFACTURING - J.D. Vance
https://www.vance.senate.gov
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If you are a fund manager with a diversity strategy, the single most important move you can make is to open an office in Chicago ✶ ✶ ✶ ✶ Research from P33 Chicago shows that the third-largest economy in America has more underrepresented founders per capita than any other metro area, including: - Eight times as many as San Francisco 🌉 - Three times as many as the runner-up, Atlanta 🏣 The city is on track to be the first to reach parity by a wide margin. Founders at places like mHUB , 1871 , and Polsky Center at the University of Chicago are building incredible things across hardware, climate tech, healthcare, biotech, and enterprise software. Experienced founders - consider setting up your next venture here and bringing your network with. Being surrounded by founders who don't look like me is awesome 🌈 Midwest work ethic💪+ Midwest cost 💵= 🚀
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Amazing to see more EV manufacturing moving to Illinois!
Another huge win for Illinois with today's announcement from the U.S. Department of Energy (DOE) that the Stellantis plant in Belvidere will receive $334 million in federal dollars from the Domestic Manufacturing Conversion Grant Program. As Governor JB Pritzker noted, this is a major milestone in the mission to re-open the Belvidere Assembly Plant. Illinois Department of Commerce and Economic Opportunity Director Kristin Richards and her team along with the Governor's team of Andy Manar and Claire L. have been leading the charge. The Illinois Manufacturers' Association has been working for many years with the Governor, lawmakers and local officials to create a strong ecosystem for EVs, batteries and supply chains. We've worked to pass and improve REV-EDGE, MICRO Act, closing fund, manufacturing academies, and other workforce training programs. As I noted in John Pletz's article, “Illinois has created a strong ecosystem for EVs and their supply chains with new incentive packages and workforce efforts that have been led by Gov. Pritzker. Today’s announcement that Stellantis will receive a domestic manufacturing auto conversion grant to rebuild and strengthen their facility while strengthening supply chains is a huge win for northern Illinois and will hasten the creation of thousands of good-paying jobs and community investment.” #manufacturing #MadeinIllinois #TeamIllinois #auto
Stellantis scores major federal grant for Belvidere
chicagobusiness.com
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Great progress from another Chicago battery success story!
NanoGraf has reached a huge milestone: our first large-volume production run of M38 18650 cells for the U.S. military. ⚙️ Thanks to the DIU's FAStBat initiative, American soldiers will soon have access to more versatile lithium-ion batteries that last up to 15% longer in the field. Check out the full press release for more info: https://lnkd.in/g7XFScwj
NanoGraf Begins Production at Scale to Provide Military with More Powerful, Resilient Batteries
globenewswire.com
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Zal Bilimoria is an absolute machine of a solo GP. He's able to move fast and hustles hard for portfolio companies. Huge congrats to Refactor on closing a new fund! If you're in the market for seed funding, happy to help coordinate an intro. #BetterCallZal
Happy to share Refactor's $50M Fund 4 is online! 🙌 I’m grateful to our existing investors who contributed 90% of the capital 💰. With this fund - entirely raised from US 🇺🇸 investors, I plan to continue writing lead pre-seed and seed checks into bio 💊 , climate 🌲 , and other hard tech 🏗 startups. Being a solo GP allows me to move fast, build trust quickly, and work closely with founders reshaping industries. I enjoy being super responsive, whether it’s minor questions or major fire drills. As some have amusingly said, #BetterCallZal ☎ #VC #SeedInvestment #SoloGP #Startup Thank you TechCrunch and Christine Hall for covering our news:
Zal Bilimoria just raised a $50M fourth Refactor Capital fund, and still relishes his solo GP status | TechCrunch
https://techcrunch.com
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Love this!
President & CEO of ComEd - an Exelon company. We are powering the lives of more than 9 million northern Illinoisians.
It’s official! #Bronzeville is now home to one of the nation’s first neighborhood-scale #microgrids. That means this historic #Chicago South Side community will be a showcase for energy resiliency, sustainability and equity. As we transition to a cleaner energy system, we are also transitioning to a more just energy system, where everyone enjoys the benefits and opportunities that come with it. Thank you to Illinois Senior Senator Richard Durbin for joining yesterday’s festivities and to the many partners who helped ComEd write a new chapter in Bronzeville’s inspiring history. (Cool alert! The Bronzeville Neighborhood #Microgrid is seamlessly operating with an adjacent Illinois Institute of Technology Campus Microgrid. Their combined operation is optimized by a first of its kind Siemens microgrid cluster controller or “brain” co-developed with ComEd engineers and funded by USDOE.) Read about it here 👉 https://lnkd.in/g5y6y_yP Bronzeville Community Microgrid Chicago Housing Authority U.S. Department of Energy (DOE) Tracey Scott Gene Rodrigues Siemens Illinois Institute of Technology Mohammad Shahidehpour City of Chicago John Roberson Pat Dowell Bruce Montgomery Illinois Commerce Commission Stacey Paradis Christian Mukania, P.E., PMP, MBA Enchanted Rock
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Thank you World Business Chicago! ✶ ✶ ✶ ✶
Pioneering battery tech startup Bedrock Materials has selected #Chicago for its R&D HQ. Bedrock chose to #BeinIllinois because of the state’s access to talent, #EV tech and #manufacturing ecosystems, quality of life, and tremendous R&D community. "The choice to come to Chicago was an easy one. There is arguably one active laboratory in America that has produced a successful automotive battery chemistry, and it’s here,” said Bedrock CEO Spencer Gore. Read the press release here: https://bit.ly/4bkFzGC Argonne National Laboratory, Illinois Department of Commerce and Economic Opportunity, World Business Chicago, mHUB
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