Filters
Your Selections
    [clear all]
    Asset
    Published
    Vehicle Domain
    Topical Categories
    Supplier
    OEM
    Region / Country/Territory
    Unable to find investors, Britishvolt files for insolvency
    Battery startup Britishvolt filed a notice to appoint an administrator in the insolvency courts in the UK on January 17, 2023, after failing to raise funds from new and existing investors to keep the business afloat. While a majority of 300 existing employees have lost their jobs as an immediate consequence of Britishvolt’s liquidation, the development is also being seen as a blow to the UK government’s efforts of establishing a flourishing ecosystem for electric vehicle (EV) and battery man...
    Talking Heads: CES – the wrap
    In 2023, some 300 exhibitors showcased their vehicle technology. Its increasing importance – usurping the traditional auto shows like NAIAS, Paris, IAA and Geneva along the way – is demonstrated if we wind back the clock to 2014. Then, there were just nine OEMs present and some 125 automotive technology exhibitors. With this growth has also come maturity. The 2023 CES was less about fanciful concepts and more about tangible. Click the link above to download the full article.
    EV battery startup Our Next Energy raises USD300 million in Series B round
    Our Next Energy has closed a USD300 million Series B funding round, it said in a press release on 1 February. The fund raising takes the startup’s post-money valuation at USD1.2 billion. The round was led by Fifth Wall and Franklin Templeton, with participation from Series A investors and new investors Temasek, Riverstone Holdings and Coatue. Two undisclosed strategic investors also participated in this round, including a manufacturer of electric vehicle (EV) technology solutions and a renewab...
    Porsche invests in ABB E-mobility Holding
    Porsche Automobil Holding SE has invested a double-digit million-euro amount in ABB E-mobility Holding in a private placement, it said in a press release on 1 February. ABB stated that it divested 12% of its shares to a total of four minority investors for CHF325 million (USD357 million) in funds. The total volume of the private placement completed amounts to about CHF525 million. The proceeds will be used to accelerate the organic growth of the company as well as for acquisitions. “With...
    Autonomous vehicle technology startup Phantom AI raises USD36.5 million in series C funding
    In a press release on 1 February 2023, Phantom AI has announced that it has secured USD36.5 million in its Series C funding round. Existing investors include KT Investment and Renaissance Asset Management with new investors InterVest, Shinhan GIB, and Samsung Ventures participating in this round. “This is a very exciting time for Phantom AI as customers are recognizing the critical role driver-assisted technology plays in making automobiles safer for everyone,” said Jay Jinhwan Jeon of In...
    Gentex to open new production facility in Grand Rapids, US
    Gentex Corporation has announced that it plans to open a satellite production facility that will bring 50 new jobs to the Madison Square neighborhood of Grand Rapids, Michigan, US, according to a press release on 1 February 2023. As it continues to adopt effective solutions to solve the current labor crisis, the firm intends to increase its employee base and give more access to well-paying employment by extending its manufacturing presence. “Rising transportation costs make commuting inc...
    Startup Spartan raises USD17 million series B funding round
    Spartan, a sensor software company has announced that it closed an initial B round of USD17 million, led by 8VC, and joined by Microsoft, Prime Movers Lab, MaC VC, Gaingels, and others, according to a press release on 1 February 2023. Spartan's objective is to improve safety, reliability, and autonomy by installing their software on every manufactured car. Ago, the company's flagship product, is a software solution that improves the effectiveness of driver assistance systems by increasing res...
    Toyota selects Turkey plant to produce PHEVs, batteries in Europe
    Japanese automaker Toyota’s European arm said on 30 January 2023 that the company plans to produce the second-generation Toyota C-HR at Toyota Motor Manufacturing Turkey (TMMT) in Sakarya, Turkey. In addition, TMMT will be Toyota’s first European plant to start producing plug-in hybrid vehicles (PHEVs), and the first to be equipped with a battery production line. TMMT is slated to produce the Toyota C-HR in hybrid as well as PHEV versions, which will make the model first PHEV passeng...
    General Motors to invest USD918 million on V-8 engine production, EV components
    US automaker General Motors Company plans to invest USD918 million in four of its US-based manufacturing facilities, including USD854 million to prepare these facilities to produce its sixth-generation small block V-8 engine and an additional USD64 million in Rochester, New York, and Defiance, Ohio for castings and components to support electric vehicle (EV) production, the company announced on 20 January 2023. According to the company, with the fresh plant investment, GM’s cumulative manuf...
    Luminar plans to establish new production plant for lidar sensors in Asia
    Luminar Technologies has commenced commercial manufacturing of its lidar sensors after five years of research and development in "stealth mode", according to a report published by Nikkei Asia on 27 January 2023. Luminar Technologies intends to develop a new facility in Asia and reduce the price of each sensor to USD100. Luminar founder and CEO Austin Russell said “This is the first commercial production car with high-performance lidar to enable proactive safety and highway autonomous c...
    TÜV Rheinland plans to open laboratory center for autonomous vehicle testing in Taicang, China
    TÜV Rheinland, a testing, inspection, and certification service provider has opened a new laboratory center in Taicang, China, according to a press release on 25 January 2023. The global testing services provider has invested around EUR11 million in the first construction phase of the "Yangtze River Delta Operation Hub" with a second construction phase adding a further EUR11 million in investment. “For TÜV Rheinland, the Yangtze River Delta Operation Hub is one of the largest single inves...
    Elinor Batteries to set up gigafactory in Orkland, Norway
    Elinor Batteries, a newly established battery startup backed by the green investment company Valinor, plans to set up a battery cell gigafactory in Orkland, Mid-Norway, the company said on 11 January 2023. According to the official note, the planned battery plant will be the first industrial initiative to be hosted by the green industrial site Eiktyr, which will be the largest of its kind in Norway, with an area of 6 square kilometers. Construction of the first phase of Elinor’s gigafact...
    CATL plans to build new integrated intelligent chassis plant in Yichun, China
    According to a press release on 25 January 2023, Contemporary Amperex Intelligence Technology, a wholly-owned subsidiary of CATL, and the Yichun Economic and Technological Development Zone Management Committee have entered into a partnership for the CATL Integrated Intelligent Chassis (CIIC) production base project in the city of Yichun, Southeast China's Jiangxi Province. CAIT-SH is dedicated to the development, manufacture, sales, and provision of CIIC's services. In accordance with the agr...
    Leoni expands automotive cable production in Cuauhtémoc, Mexico
    Leoni has announced the expansion of its automotive cables location in Cuauhtémoc, Mexico, according to a press release on 24 January 2023. Many guests attended the celebration, including the Governor of Chihuahua Maria Eugenia Campos, the Secretary of State for Economic Affairs Maria Angelica Granados, the Local Deputy Saul Mireles and the Deputy Mayor of Cuauhtémoc, Elias Humberto Perez. In 2020, Phase I of the EMOMEX (E-Mobility Mexico) project was completed. It comprised a USD27 mill...
    Ganfeng Lithium Group to build two new lithium battery plants in China
    Ganfeng Lithium, one of the largest producers of lithium compounds globally, plans to build two lithium battery manufacturing facilities with an investment of CNY15 billion (USD2.2 billion) in mainland China, according to a news report published by Yicai Global on 19 January 2023. The news report, which cited the company announcement, added that the two new planned gigafactories in China will raise Ganfeng’s annual production capacity by 34 GWh. The total earmarked investments of CNY15 b...
    US-based battery startup Nanotech Energy plans to set up a gigafactory in the UK
    Los Angeles based battery technology startup Nanotech Energy, Inc. plans to set up a gigafactory in the UK and the company is in the process of evaluating seven potential sites in the country for the same, it said in a media announcement on 19 January 2023. Nanotech Energy plans to invest GBP1 billion (USD1.23 billion) in building the planned gigafactory at the chosen site in the UK. The company said that site selection will be based on a combination of technical aspects and strategic alignme...
    Sono Motors secures funding from EU to develop proprietary solar technology
    Sono Motors has secured EUR1.46 million (USD1.58 billion) in funding from the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the development of its proprietary solar technology, it said in a press release dated 23 January. Sono Motors has also announced that it has been granted or filed for 50 patents, 42 of which are for the proprietary solar technology. The patents partly relate to the same invention being filed in different jurisdictions. Significance: The...
    BASF, Eramet team up to process nickel for EV batteries
    Germany's BASF and French mining company Eramet plan to sign a USD2.6 billion partnership deal to jointly invest in a nickel processing plant in Indonesia, according to a news report published by the news agency Reuters on 18 January 2023. The processed nickel will be used in electric vehicle (EV) batteries, the report stated. Citing BASF chief executive Martin Brudermüller, the news report said that the project investment would be worth around EUR2.4 billion (USD2.59 billion). The two ...
    Chinese battery maker Eve Energy to build two new battery plants in China
    Eve Energy, leading Chinese battery maker, plans to invest CNY15.5 billion (USD2.3 billion) in building two new lithium-ion battery manufacturing facilities in China, according to a news report published by Yicai Global on 19 January 2023. Citing Eve Energy, the report stated that the battery maker’s investments are aimed at expanding its production as well as research and development (R&D) capabilities to accelerate growth in the world’s largest electric vehicle (EV) market. ...
    Startup Cepton closes USD100 million investment from Koito Manufacturing
    Cepton, a high performance lidar solutions provider has announced the completion of its previously announced USD100 million investment from its long-term automotive tier-1 partner and current shareholder, Koito Manufacturing, according to a press release on 19 January 2023. The Investment, in the form of convertible preferred stock, was approved at a special meeting of Cepton stockholders, and is convertible, beginning on the first anniversary of the issue date, into shares of Cepton’s comm...
    Volvo plans to invest in autonomous vehicle technology startup Waabi
    In a press release announcement on 18 January 2023, Volvo Group Venture Capital AB said that it has invested in the Canadian-founded company Waabi Innovation Inc, developing the next generation of autonomous trucking technology. The investment highlights the companies' shared commitment to redefine the way they move goods and accelerate the deployment of future transport solutions. “The company Waabi is using advanced artificial intelligence technology to test, assess skills, and ultimat...
    Autonomous technology startup Ottopia raises USD14.5 million in Series A funding round
    Ottopia has raised USD14.5 million in its Series A funding round, it said in a press release dated 10 January. Investors included ComfortDelGro, AI Alliance Fund, and existing investors such as MizMaa Ventures, IN Venture and Next Gear Ventures. Ottopia intends to use the funds to accelerate the roll-out of its teleoperation software to enable autonomy in all industries. “We've always believed in the potential of Ottopia. The team's unwavering dedication and drive have consistently impresse...
    Bosch to set up R&D, manufacturing plants for EV components in China
    Bosch Automotive Products (Suzhou) Co., Ltd, a wholly owned subsidiary of Bosch Group, plans to build research and development (R&D) and manufacturing facilities to design and produce core components for electric vehicles (EVs) and automated driving technologies, the company announced on 12 January 2023. The company said it has signed an investment agreement with Suzhou Industrial Park Administrative Committee, mainland China, in this regard. According to the agreement, the establish...
    Autonomous driving technology startup VSORA secures USD4.2 million in financing
    VSORA, a startup offering silicon intellectual property (IP) solutions and autonomous driving/advanced driver assistance systems (AD/ADAS) compute platform chips for Level 2+ through Level 5 AD, has announced that it has closed a round of financing totaling USD4.2 million, according to a press release on 11 January 2023. Khaled Maalej, VSORA’s CEO noted, “Tyr has the ability to provide up to two PetaFlops processing power with superior implementation efficiency reaching more than 80%, com...
    Chinese EV maker BYD to set up auto component manufacturing plant in Vietnam
    Chinese electric vehicle (EV) maker BYD Auto Co plans to set up an automotive component manufacturing facility in Vietnam, according to a news report published by the news agency Reuters on 13 January 2023. The news report cited three people aware of the company plans. The report said that BYD’s plan of setting up an auto parts manufacturing plant in Vietnam is part of its larger strategy to diversify from China and deepen its supply chain footprints in the emerging Southeast Asian markets ...
    Lidar startup PreAct Technologies raises USD14 million in Series B round
    PreAct Technologies has announced fund raising of USD14 million in its Series B round led by I Squared Capital, according to a company press release on 5 January. Additional participation in this round included State Farm Ventures, Luminate, and Traylor Capital, among other new and existing investors. “PreAct has experienced significant growth over the past year, as more industries are discovering the power of high-quality 3D data that can be tailored to users’ needs via software and back...
    Startup Oxbotica raises USD140 million in Series C round
    Oxbotica has announced that it has raised USD140 million in Series C funding round, it said in a press release dated 11 January. The investment round includes new investors like Aioi Nissay Dowa Insurance and ENEOS Innovation Partners. Current shareholders including bp ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science, and ZF have also participated in the round. To date, Oxbotica has raised about USD225 million. “This landmark investment from wo...
    Lidar technology startup Lumotive raises USD13 million in new funding round
    Lumotive has announced that it has secured additional funding from new investors USAA and Uniquest in a USD13 million round of strategic funding led by Samsung Ventures, bringing the total amount raised to date to more than USD56 million. “Disruptive approaches to enabling next generation lidar capabilities are imperative for important applications such as automotive safety,” said Michael Smith, assistant VP, Corporate Development, USAA. “Lumotive's all-silicon LCM solutions make lidar ...
    Baraja secures investment from Veoneer to advance lidar development
    Baraja and Veoneer partnership has been extended with an investment by Veoneer in Baraja, according to a press release on 3 January 2023. This follows the recent announcement of an advanced development agreement with a major automotive OEM. Baraja is making significant progress with ongoing validation of its next-generation Spectrum HD25 lidar product developed specifically for automotive integration. Spectrum HD25 is a step forward in vehicle lidar technology. Built on Baraja's patented Spec...
    EVE Energy opens a battery R&D center in Guangdong, China
    China-based battery maker EVE Energy has recently opened a state-of-the-art battery research and development (R&D) center in Huizhou, Guangdong province, the company said on 29 December 2022. The R&D facility was built from scratch in 16 months with an investment of CNY2 billion (USD290 million). According to the company, the battery research facility is spread across an area of 145,000-square-meters and houses EVE Energy’s Power Battery Research Institute and the Battery System Res...
    Autonomous driving technology startup Freetech raises around USD100 million in Series B funding
    According to a report published by Nikkei Asia on 28 December 2022, China-based autonomous driving startup Freetech Intelligent System has raised nearly USD100 million in a Series B funding round led by Chaos Investment. Hengxu Capital, a division of SAIC Motor; BAIC Capital; and TCL Industries Holdings are three other investors that took part in the most recent investment round. The funding will be used by Freetech to expand its core technology, carry out research for the creati...
    CATL breaks ground on Shandong battery manufacturing plant in Yanzhou, China
    Contemporary Amperex Technology Co., Limited. (CATL), one of the leading EV battery manufacturers globally, had organized a groundbreaking ceremony for its upcoming Shandong battery production facility located in the Jining city of East China's Shandong Province on 24 December 2022. The planned battery manufacturing site, referred as CATL-SD, is spread across an area of more than 133 hectares and will house production lines for electric vehicle (EV) batteries, as well as for energy storage sy...
    CATL’s German plant begins serial production of lithium-ion battery cells
    China’s largest battery maker Contemporary Amperex Technology Co., Limited.'s (CATL’s) German arm Contemporary Amperex Technology Thuringia GmbH (CATT) has commenced serial production of lithium-ion battery cells in December as scheduled, marking a major milestone in CATL's global expansion strategy, CATL said on 21 December 2022. The battery manufacturing plant in Thuringia, Germany, is CATL’s first production facility outside of China. It can be recalled that the company had rece...
    Autonomous driving technology startup Helm.ai raises USD31 million in funding
    Helm.ai has announced that it has closed a USD31 million funding round in a Series C round led by Freeman Group, according to Helm.ai’s medium blog post on 19 December 2022. The round was also led by investments from venture capital firms ACVC Partners and Amplo as well as strategic investments from Honda Motor Co., Goodyear Ventures, and Sungwoo Hitech. This funding raises the total amount Helm.ai has raised to USD78 million. Helm.ai will utilize the funding for research and development, t...
    Toshiba plans to build new production facility for power semiconductors in Japan
    Toshiba Electronic Devices & Storage Corporation has announced that it will construct a new back-end production facility for power semiconductors at its Himeji Operations, Semiconductor, in Hyogo Prefecture in western Japan, according to a press release on 18 December 2022. The Construction will start in June 2024, with production scheduled to start in spring 2025. The project will more than double Toshiba’s automotive power semiconductor production capacity at Himeji, against fiscal 20...
    GAC Aion to invest USD1.5 billion on building battery plant in Guangzhou, China
    GAC Aion, the new energy vehicle (NEV) brand positioned under the umbrella of the state-owned automobile manufacturer Guangzhou Automobile Corporation (GAC Group) in China, plans to invest USD1.57 billion in building a battery manufacturing plant, a news report published by CnEVPost on 12 December 2022 said. The report cited a company press release. GAC Aion officially broke ground at the site of the battery plant, which will be located in Guangzhou, China— the parent company’s headq...
    Ford stays on track with Construction work of BlueOval SK Battery Park
    US automaker Ford Motor Company and its South Korean battery partner SK On have broken ground at BlueOval SK Battery Park in Kentucky, US, and the construction work is on schedule at the two massive battery manufacturing facilities, which are jointly expected to have an annual production capacity of more than 80GWh, once fully operational, the carmaker said on 5 December 2022. The Ford – SK On battery JV company—BlueOval SK—is investing a total of USD 5.8 billion on developing the two s...
    Siemens to build its second EV charger manufacturing facility in the US
    Siemens eMobility, a global electric vehicle (EV) technology and infrastructure provider, plans to set up its second US manufacturing plant for EV chargers in Carrollton, Texas, the company announced on 13 December 2022. The company said it will retrofit the 80,000-square-foot brownfield plant in Carrollton as part of its continued investment plan in the US. The planned production unit will allow the company to significantly ramp up its annual manufacturing capacity in the US to cater to the ...
    Redwood Materials to invest USD3.5 billion to build battery materials plant in South Carolina, US
    Battery recycling company Redwood Materials plans to invest USD3.5 billion on building a battery material recycling facility near Charleston, South Carolina, US, the company announced on 14 December 2022. The factory, which will be spread across an area of more than 600 acres, is termed by Redwood as its next ‘Battery Materials Campus’ that will be located in the heart of the ‘US Battery Belt’. According to Redwood, a new electric vehicle (EV) manufacturing corridor from Michigan to G...
    Mahindra & Mahindra to invest USD1.2 billion on setting up an EV plant in Pune, India
    India’s leading sport utility vehicle (SUV) manufacturer Mahindra & Mahindra Ltd. (M&M) plans to invest INR100 billion (USD1.2 billion) on setting up an electric vehicle (EV) production facility in Pune, India, the company announced on 14 December 2022. The investment plan has also been approved under the Maharashtra Government’s industrial promotion scheme for EVs, M&M said in its official statement Wednesday. The planned investments will be made through M&M’s...
    Lidar startup Phlux Technology secures USD4.89 million in seed funding
    Lidar technology startup has announced that it has raised GBP4 million (USD4.89 million) in seed round funding from leading deep tech investors, according to a press release on 7 December 2022. In addition to financing from Innovate UK, the round was led by Octopus Ventures and includes Northern Gritstone, the Foresight Williams Technology Funds, and the Innovation Fund. As a spin-off of Sheffield University, it has utilized its extensive research on antimony, a semi-metal, to develop a ...
    Auto chip startup Indiemicro raises USD43 million in Series B round
    Wuxi Indychip Microelectronics Technology (Indiemicro) has completed its Series B financing round of CNY300 million (USD43 million). The round was jointly led by Chang'an Anhe, Dongfeng Bank of Communications, Xingyu shares and old shareholder Linxin Investment, and Guolian Tongyi, Keyu Shengda, Qianhai Pengchen, and Zhenghai Capital participated in the follow-up investment. “We have been committed to the development of automotive and medical analog-digital hybrid chips and their solutions ...
    Envision AESC commences construction work of its second Gigafactory in Sunderland, UK
    Leading electric vehicle (EV) battery maker Envision AESC has commenced construction work at the site of its second gigafactory in Sunderland, UK, according to a news report published by North East Automotive Alliance on 9 December 2022. The report mentioned that the said Gigafactory is slated to have an annual production capacity of 12GWh and will employ more than 1,000 people at peak capacity in 2025, The upcoming facility will be powered by renewable energy, the report said, adding that th...
    EV startup Enovate Motors to set up manufacturing plant Saudi Arabia
    Enovate Motors, the mainland China-based electric vehicle (EV) startup, is planning to set up a new EV manufacturing plant in Saudi Arabia, South China Morning Post reported on 13 December. According to the report, the plant will be built under a joint venture (JV) with Sumou. Enovate has reportedly already signed an agreement with Saudi Arabia authorities for the plant. The new plant is expected to have an annual manufacturing capacity of 100,000 units and will cost USD500 million to build. ...
    SVOLT signs lease for new battery module and pack plant in Germany
    Chinese battery maker SVOLT has signed the lease for the new module and high-voltage battery pack production facility in Saarland, Germany, the company announced in a press release on 9 December. The facility is being built on the site of the former “Laminate Park” in Heusweiler-Eiweiler. The 15-year lease emphasizes SVOLT’s long-term plans in the German state of Saarland and secures a possible right of first refusal as well. The first part of the building (Production 1) is scheduled to...
    Ultium Cells to invest additional USD275 million to expand output by over 40%
    Ultium Cells LLC, the battery cell manufacturing joint venture (JV) of LG Energy Solution and General Motors (GM), plans to invest an additional USD275 million in its Ultium Cells Spring Hill plant in the United States to further expand the production output by more than 40%, the company announced on 2 December 2022. The planned capacity expansion will increase the plant’s current capacity from 35 gigawatt-hours (GWh) to 50 GWh once the facility becomes fully operational. The newl...
    Autonomous mobility technology startup Einride secures USD500 million in fresh funding
    Freight mobility technology company Einride announced it has secured USD500 million in financing, including both a Series C equity raise and a debt facility, according to a press release on 9 December 2022. Einride enables a robust, cost-effective future for freight by constructing freight mobility grids driven by a first-of-its-kind ecosystem that includes the intelligence platform Einride Saga, electric and autonomous trucking fleets, charging infrastructure, and communication networks...
    Nippon, JFE to expand electrical steel capacity with combined USD1.3 billion investment
    News agency Bloomberg reported on 5 December that Japanese steelmakers Nippon Steel and JFE Steel will be spending a combined USD1.3 billion (JPY172 billion) to increase their production capacity of electrical steel. According to the press report, while Nippon is due to a complete a 50% increase in electrical steel production capacity by 2024, JFE Holdings will double its capacity by the same period. The two companies are reportedly planning to further increase capacity beyond the mentioned t...
    Envision AESC to invest USD810 million in building battery gigafactory in Florence, South Carolina, US
    Leading electric vehicle (EV) battery manufacturer Envision AESC plans to invest USD810 million in building a new, state-of-the-art gigafactory in Florence, South Carolina, US, according to a news report published by the Automotive World on 6 December 2022. The facility, which is slated to have an annual production capacity of 30GWh, will create 1,170 new jobs in the region in its first phase of operations. The plant will produce high performance batteries to power the next generation EVs fro...
    Volkswagen to invest USD483 million to ramp up EV production capacity at Wolfsburg plant
    Europe’s largest carmaker Volkswagen plans to make an initial investment of about EUR460 million (USD482 million) to ramp up the electric vehicle (EV) manufacturing capacity at its Wolfsburg plant by 2025, the company said on 7 December 2022. The plan was announced by the CEO Thomas Schäfer on Wednesday at an event in Wolfsburg. “The investment is primarily earmarked for preparations to produce the new ID.3,” VW said in a statement Wednesday, adding that the compact elec...
    American Battery Factory to set up its first US battery cell gigafactory in Tucson, Arizona
    American Battery Factory (ABF) has selected Tucson, Arizona as the suitable site for its first battery cell gigafactory in the US, the company announced on 6 December 2022. It said that the chosen site will serve as the first gigafactory in a series of US-based gigafactories that the company aims to build. Additionally, the site will also serve as ABF's official headquarters and will be US’ largest gigafactory for the production of lithium iron phosphate (LFP) battery cells at approximately...
    Apollo to test EV and autonomous vehicle tires at new Indian R&D facility
    Indian tire manufacturer Apollo Tyres inaugurated on 7 December an Advanced Tyre Testing facility at its global research and development (R&D) Centre in Chennai, India. According to the press release, the new testing facility features a custom-designed Flat-trac machine and High-Speed Uniformity machine combined with an Anechoic Chamber: The Anechoic Chamber will simulate and help optimize the Noise, Vibration, and Harshness (NVH) characteristics of the tires on different road ...
    Circularise secures investment from Asahi Kasei in Series A funding round
    Japanese chemical company Asahi Kasei announced via press release on 6 December that it had decided to invest in digital product passports and mass balance bookkeeping software provider Circularise. According to the press release, the company expects its investment in the startup to accelerate the development of a digital platform that can ensure reliability and transparency in carbon emission reporting for global supply chains. Significance: Circularise recently developed a reliable suppl...
    Great Wall Motor to almost double EV investments in Thailand
    Chinese carmaker Great Wall Motor plans to double its electric vehicle (EV) investments in Thailand as the company looks to expand its operations in the country, according to a news report published by Nikkei Asia on 15 November 2022. Great Wall Motor, which entered the Thai market about two years ago, had invested THB12 billion (over USD 344 million) to set up a plant to produce EVs. The said facility employs more than 3,000 people. Citing Narong Sritalayon, managing director of Great Wal...
    BMW Group to invest USD1.05 billion to prepare Steyr plant to produce electric drives
    German luxury carmaker BMW Group plans to prepare its component manufacturing unit in Steyr to produce electric drives in addition to diesel and petrol engines from 2025, the company announced on 2 December 2022. To this end, BMW plans to invest around EUR1 billion (USD1 billion) on its Steyr facility by 2030, it said. “Preparations are already in full swing,” BMW said in an official statement last week. Notably, BMW’s Steyr plant is the Group’s largest engine plant worldwide. The ...
    KOSTAL opens new power semiconductor plant in Querétaro, Mexico
    KOSTAL has announced the expansion of its power electronics production into North America to meet the growing electric vehicle (EV) market with the construction of a new 262,000-square-foot (21,000-square-meter) plant in Querétaro, Mexico, according to a press release on 5 December 2022. Production will begin in late 2023, resulting in 750 employees in Mexico and several positions in the United States to support research, engineering, and manufacturing. KOSTAL's expansion is planned in tw...
    Chinese EV startup Aiways to set up EV assembly plant in Thailand
    Shanghai-based EV startup Aiways plans to set up a strategic EV assembly plant in Thailand with an investment of EUR40 million (USD42.16 million), the company announced on 2 December 2022. The said plant will be built by Aiways and its Thai partner Phoenix EV and the facility will be located at the Bio Hub Asia, which is an industrial zone situated in the Chachoengsao Province in Thailand. Aiways plans to locally produce the U5 and the U6 SUV models at the upcoming facility. According to the ...
    Klean, City Circle to set up new 40,000-ton tire recycling plant in Australia
    Canadian industrial energy solutions company Klean Industries announced via press release on 28 November that it had partnered with Australian construction company City Circle Group to set up a USD100 million fully integrated, continuous tire pyrolysis plant in Melbourne Australia. According to the press release, the pyrolysis plant will be centrally located 45 km northwest of Melbourne, Victoria and will include Klean’s commercial scale, environmentally friendly scrap tire carbonization te...
    Self-driving technology startup QCraft secures round-b1 financing
    China-based self-driving technology startup QCraft has announced the completion of a B1 round of financing worth several hundred million yuan, according to a report published by Pandaily on 2 December 2022. A fund managed by CICC Capital, the local electronics company TCL, and a major semiconductor company are among the investors in this round. Genesis Capital, an already-existing investor in QCraft, followed the fundraising. The money generated will be put to use to expedite the mass manufac...
    BMW acquires stake in Jetti Resources
    BMW has made an investment in Jetti Resources, Reuters reported on 1 December. Jetti has technology to extract more copper from low-grade resources and produce metal with a low carbon footprint. The investment does not include an offtake agreement, but there is potential for supplying BMW in future, according to a BMW spokesperson cited in the report. “This new process has the potential to improve the environmental footprint and integrity of our supply chain, even with growing demand for re...
    Ford invests over USD182 million at Halewood factory to support EV transition in Europe
    Ford Motor Company plans to invest a total of GBP150 million (over USD182 million) at its Halewood plant in the UK to support its electrification strategy in Europe, the carmaker said on 1 December 2022. The fresh investment entails a further GBP125 million in its Halewood facility, on Merseyside increasing capacity by 70%, and another GBP24 million on supporting E:PRiME product development center, the company said. According to the company, the new commitment takes the total investment in en...
    Foxconn JV buys land for EV manufacturing facility in Saudi Arabia
    Ceer, a joint venture between Taiwan’s Hon Hai Precision Industry Co. (Foxconn) and Saudi Arabia’s Public Investment Fund (PIF), has signed a land purchase agreement for USD 95.6 million with Emaar, the Economic City, the company announced on 29 November 2022. The purchased land parcel, which is located at King Abdullah Economic City (KAEC), will be used to develop Ceer’s manufacturing facility for electric vehicles (EVs). The site, located in Industrial Valley (IV) in close proximity t...
    Schaeffler opens new technology center in Pune to develop solutions for electric mobility
    German auto component major Schaeffler has inaugurated a new center of competence in software and electronics development in Pune, India, the company announced on 28 November 2022. The new technology center will help the company expand its capabilities in the areas of developing software and electronic solutions for electric mobility and chassis applications. Schaeffler said that the newly opened competence center in Pune will be a strategically important part of its strong international rese...
    BMW Group to construct a high-voltage battery facility at its Debrecen plant in Hungary
    German luxury carmaker BMW Group plans to build a high-voltage battery assembly facility in Debrecen, Hungary, BMW announced on 25 November 2022. The planned battery assembly unit will be located on the site of the Debrecen vehicle plant, which started construction about six months ago, the company said, adding that the new facility is expected to will create more than 500 additional jobs and invest over EUR2 billion (USD2.07 billion) in the construction and launch of the entire plant by the ...
    Autonomous driving technology startup Hyperview secures round B financing
    China-based autonomous driving startup Hyperview has announced that it had completed the B round of financing worth several hundred million yuan, according to a report published by Pandaily on 28 November 2022. The investment round was led by Goldstone Investment, followed by Bojiang Capital, CCB Capital, TEDA Venture Capital, Chunxin Hongtu Investment, Decent Investment, and Guolian Securities. The financing, which is also the largest to date for the business, is the second that Hyperview...
    Lidar startup Scantinel Photonics raises USD10.4 million in extended Series A round
    Scantinel Photonics has raised EUR10 million (USD10.4 million) in an extended Series A funding round, it said in a press release on 24 November. The round was backed by PhotonDelta and current investors Scania Growth Capital and ZEISS Ventures. The startup will use the funding to roll out its Frequency Modulated Continuous Wave (FMCW) LiDAR devices. “We see a great value having PhotonDelta as an additional investor and we are looking forward to maximizing the collaborations and benefits fro...
    Mazda announces midterm management policy, to invest USD10.6 billion on EVs
    Announcing its midterm management policy on 22 November 2022, Japanese vehicle manufacturer Mazda Motor Corporation disclosed that it plans to invest USD10.6 billion in developing electric vehicles (EVs). The company said it is also considering investing in battery production. Mazda’s midterm policy entails the vehicle manufacturer’s goals and milestones spread until 2030. One of these goals include Mazda raising its EV sales target to achieve up to 40% of its total global sales by 2030. ...
    Apollo, CEAT, JK, and MRF to expand Indian natural rubber capacity with joint USD135 million investment
    The Economic Times reported on 4 November that tire manufacturers Apollo Tyres, CEAT, JK Tyre, and MRF will jointly invest USD135 million (INR11 billion) over the next five years to increase rubber plantation capacity in India as part of a project being implemented by the Automotive Tyre Manufacturers' Association. According to the report, the plantation project will involve setting up 200,000 hectares of rubber plantations in the states of Assam, Arunachal Pradesh, Manipur, Me...
    Connected car data startup Sibros Technologies receives investment from Global Brain Corporation
    Sibros has announced that the Global Brain Corporation has invested in in the connected car data startup, in a press release dated 18 November. The investment was made through its GB-VIII Growth Fund Investment Limited Partnership (GB-VIII). The funds are set to be used to strengthen Sibros’ presence in the Indian market as well as expand to Japan. “We are excited by the quality of the team at Sibros and the traction of its product with customers. They have an incredible vision of powerin...
    France’s Advenir Program partners Hubject to offer roaming facilities to EV drivers
    Hubject has joined the French government’s Advenir Program, which funds and promotes the expansion of electric vehicle (EV) charging infrastructure across France, to provide its eRoaming services, the company announced on 22 November 2022. Notably, Hubject is known as the facilitator of the largest international EV charging eRoaming network. According to the official note, the French government has made EV charging eRoaming services a priority in its national strategy to promote zero-emissi...
    LG Chem to invest over USD3 billion to build cathode manufacturing facility in Tennessee, US
    South Korean battery maker LG Chem has signed a memorandum of understanding (MoU) with the state of Tennessee, US, to set up a new cathode manufacturing facility in Clarksville, the company announced on 22 November 2022. The MoU signing ceremony was attended by Tennessee Governor Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and LG Chem CEO Shin Hak-Cheol, among others. LG Chem said construction of the plant will begin in the first quarter of 2023 wi...
    Automated driving startup HoloMatic secures C2 round of financing
    HoloMatic, China-based autonomous driving technology startup has announced that it had completed a C2 round of financing, led by GAC Capital and followed by Zhidu Investment and Chaos Investment, according to a report published by Pandaily on 11 November 2022. The total amount of this C round of financing for HoloMatic has totaled USD100 million. In 2018, HoloMatic released two prototypes of its intelligent parking and autonomous highway driving features, and in 2019, it began large-scale tes...
    Bridgestone to expand Cost Rica plant capacity with USD250 million investment
    Japanese tire manufacturer Bridgestone announced via press release on 18 November that it planned to invest USD250 million over a five-year period from 2022–26 to expand the tire manufacturing capacity of its plant in Belén de Heredia, Costa Rica. According to the press release, the company plans to increase the capacity of the plant by up to 36% with the capital investment. Manufacturing director of Bridgestone Costa Rica, Bridgestone Americas, Pablo Jiménez, discussed the strategic n...
    Nidec Corporation plans USD715 million electric motor manufacturing plant in Mexico
    Japanese electric motor manufacturer Nidec Corporation is planning to invest about JPY100 billion (USD715 million) to build a production facility in Mexico, according to a news report published by Nikkei Asia on 18 November 2022. It said that Nidec’s planned facility in Mexico will produce propulsion systems for electric vehicles (EVs). The Kyoto-based company is currently producing e-axles in China and Europe but now plans to begin manufacturing drivetrain components in North America ahead...
    VinES, Gotion High-Tech JV break ground at 5GWh LFP battery cell factory in Ha Tinh, Vietnam
    VinES Energy Solutions, a Vingroup company, and China-based electric vehicle (EV) battery maker Gotion High-Tech broke ground of their joint venture’s battery manufacturing facility in Vung Ang Economic Zone in Ha Tinh city in Vietnam, VinES said in an official media note on 18 November 2022. The company said that the planned facility will produce rechargeable Lithium Iron Phosphate (LFP) battery cells, mainly used for EV batteries and energy storage systems (ESS). The JV is setting up LFP ...
    Bridgestone receives USD35 million grant for US-based sustainable natural rubber project
    Japanese tire manufacturer Bridgestone announced via press release on 17 November that it had been awarded a USD35 million from the US Department of Agriculture to invest in its desert shrub guayule-based natural rubber project. According to the press release, the company plans to use the grant funds to attract additional growers of the guayule desert shrub crop among local farmers and Native American tribes in the Southwestern US as well as provide growers with education regarding ...
    Toyo to open new 5-million-unit tire plant in Serbia
    Japanese tire manufacturer Toyo announced via its quarterly financial results statement on 14 November that it will be holding the opening ceremony for its Serbian tire manufacturing facility in December 2022. According to the release, the facility will have an annual production capacity of 5 million tires when its starts operating at full capacity from the third quarter of 2023. The plant is expected to preferentially supply the US market this year in response to a significant rise in dem...
    HAI to set up new 60 MN aluminum extrusion line at Austrian site
    Austrian premium aluminium parts manufacturer Hammerer Aluminum Industries (HAI) announced via press release on 11 October that it will be setting up a new automated 60 meganewton (MN) extrusion line at its Ranshofen site in Austria as part of its EUR100 million (USD103.6 million) investment package initiative. According to the press release, the new line with all upstream and downstream production facilities will be used to manufacture highly complex aluminum profiles with outstanding c...
    Novelis to set up new 100,000-ton aluminum recycling site in South Korea
    American aluminum company Novelis announced via press release on 6 November that it had broken ground on a new USD50 million Ulsan aluminum recycling center in South Korea. According to the press release, the new site will have an annual casting capacity of 100,000 tons of low-carbon sheet ingot and will reduce the company’s carbon emissions by more than 420,000 tons each year. Sachin Satpute, president of Novelis Asia, discussed the investment strategy, stating, "As the world leader in ...
    BMW plans to invest USD1.4 billion to expand its battery output in Shenyang, China
    BMW Brilliance, BMW’s joint venture in China, plans to invest about CNY10 billion (USD1.4 billion) in expanding the production capacity at its battery manufacturing plant in Shenyang, Liaoning province, in northeast China, according to a news report published by CnEVPost on 14 November 2022. Citing a company press release, the report said that the carmaker signed a contract with the local government on 11 November. The project is seen as another major investment by BMW Brilliance after...
    Foxconn, JV partner begin construction of EV manufacturing plant in Thailand
    Horizon Plus Company Limited, a joint venture between Thailand’s Arun Plus Company Limited and and Hon Hai Precision Industry Co., Ltd (Foxconn), had organized groundbreaking ceremony for the electric vehicle (EV) manufacturing plant at the Rojana Nhongyai Industrial Park, Chonburi Province in Thailand, according to a media release issued by Foxconn on 12 November 2022. The planned facility is located on a plot of land area of over 500,000 square meters in the eastern part of Thailand. Hori...
    Salzgitter to produce high-strength body steels with new EUR200 million galvanizing line
    German steel manufacturer Salzgitter announced via press release on 10 November that it had invested EUR200 million (USD206 million) to set up a third galvanizing line to strengthen its position as a leading manufacturer of automotive premium segment products. According to the press release, the new 500,000-ton line will produce high- and ultra-high-strength steels for vehicle body and chassis applications. The steels will have thicknesses between 0.7 and 2.5 mm, widths between 900 and 1,700 ...
    FREYR Battery plans to build battery manufacturing plant in Georgia, US
    Norwegian battery maker FREYR Battery has selected and purchased a site in Coweta County, Georgia, US to set up its planned gigafactory, Giga America, the company said on 11 November 2022. FREYR said that the initial phase of Giga America entails setting up cell production capacity of about 34GWh at an initial projected capital cost of USD1.7 billion. The battery maker is slated to produce cells based on 24M’s next-generation semi-solid production platform. In addition to that, FREYR said t...
    SCG Chem, Denka to manufacture acetylene black in Thailand
    Bangkok Post reported on 2 November that Asian petrochemical company SCG Chemicals Plc will be partnering with Japanese chemical company Denka to set up a 11,000-ton acetylene black production line in Thailand. According to the press release, the line will be set up at SCGC’s existing petrochemical factory in Rayong and will annually produce 11,000 tons of acetylene black, sufficient for application in 11–12 million electric vehicles (EVs). According to the report, the new line will su...
    Baowu Masteel equips Changjiang mill with EAF for green steel production
    Italian industrial equipment supplier Danieli announced via press release on 8 November that Chinese steel manufacturer Baowu Masteel had equip its Changjiang, China steel mill with a new electric arc furnace (EAF) as part of its industrial decarbonization initiative. According to the press release, the new 140-ton ultra-high-power (UHP) EAF equipped features An Endless Charging System for continuous scrap-charging and preheating A dedicated pouring system to charge 85% of hot metal ...
    Aiways Automobile opens new technical center in Munich, Germany
    Aiways Automobile has announced the expansion of a new technical center in Munich, Germany, according to a press release on 10 November 2022. The team will be headed under the direction of engineer Zeeshan Shaikh in order to be able to best adapt the cars to the appropriate market, the company said. “We are proud to have Zeeshan Shaikh leading our Technical Center and driving its expansion. With his highly specialized education in India and France and over ten years of experience in the aut...
    Porsche increases investment in cybersecurity solutions
    Porsche has announced company is expanding its investment activities to include a focus on cybersecurity, in a press release on 9 November. It will also expand its team in Tel Aviv, Israel. Porsche invested in Valence Security, the sixth Israeli startup it has invested in. The company develops and markets data security solutions in conjunction with the use of software. “Tel Aviv is one of the most exciting technology centers in the world—particularly in smart mobility, artificial intellig...
    Draslovka to expand low-rolling-resistance tire additive capacity
    Czech chemical company Draslovka announced via press release on 2 November that it will be expanding production capacity of diphenyl guanidine (DPG) in new markets in response to increased demand for the chemical from the green tire industry. According to the press release, the capacity expansion will likely be conducted at the company’s existing factory in Memphis, Tennessee as well as new plants in Gujarat, India. Draslovka CEO Pavel Brůžek discussed the strategic importance of the c...
    NVIDIA establishes new autonomous driving R&D units in Israel
    According to a report published by The Times of Israel on 8 November 2022, NVIDIA has been expanding its R&D operations in Israel and recently established two engineering units to develop software and hardware solutions for NVIDIA’s autonomous driving programs. NVIDIA established a hardware development team, SoC Group, to work on a system-on-chip for autonomous cars and a software development team, SW AV Group, to develop software for the Drive platform for autonomous vehicles. Future a...
    Startup Electra EV raises USD25 million
    Electra EV has raised about USD25 million from GEF Capital Partners, BusinessInsider reported on 4 November. He startup will use the proceeds to expand its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications, and other EV segments for both domestic and international manufacturers. Electra EV is looking to enhance its design, testing, and prototyping capabilities and expand the production capacity. “This fund raise provides us with both financial wherewithal and a li...
    Vale to set up green steel feedstock plants in Saudi Arabia, UAE, and Oman
    Brazilian mining company Vale announced via press release on 1 November that it had signed agreements with local authorities and clients in in the Kingdom of Saudi Arabia, the United Arab Emirates, and the Sultanate of Oman to study the development of hot briquetted iron (HBI) production sites in the three regions. According to the press release, the three agreements involve the future development of HBI facilities at the Ras Al Khair Industrial City in Saudi Arabia, at the Khalifa Economic Z...
    Solvay, Orbia to set up USD850 million battery binder material facility in the US
    Belgian chemical company Solvay announced via press release on 3 November that it will be partnering with American utilities company Orbia to set up a suspension-grade polyvinylidene fluoride (PVDF) manufacturing joint venture (JV) in North America. According to the press release, the new JV will source raw materials hydrofluoric acid, vinyl chloride monomer (VCM) and chlorine required for the production activities from Orbia’s Fluorinated Solutions and Polymer Solutions businesses respecti...
    EV charging startup Mobility House raises USD50 million in Series C round
    The Mobility House has raised USD50 million in its Series C funding round, it said in a press release on 3 November. The round was led by Mercuria and co-led by Ventura Capital and Green Gateway Fund. Other investors included Mercedes-Benz, Alliance Venture, Mitsui, and SP Group. The funds will be used to expand the company’s market position in the field of electric vehicle (EV) smart charging and vehicle-to-grid (V2G) integration across Europe, North America, and Asia. “We are delighted ...
    BYD plans to invest over USD584 million in setting up EV manufacturing plant in Brazil
    Chinese electric vehicle (EV) maker BYD has signed a letter of intent (LoI) with the Government of the State of Bahia in Brazil to set up an EV manufacturing plant, according to a report published by the Brazilian news portal Automotive Business on 28 October 2022. The report stated that BYD plans to install three new assembly lines at a brownfield facility, which was earlier operated by Ford in Camacari. The Chinese automaker plans to invest BRL3 billion (over USD584 million) at the site, wh...
    Continental Carbon to set up new USD83 million carbon black plant in Gujarat, India
    The Times of India reported on 18 October that Taiwan-based carbon black manufacturer Continental Carbon will be setting up a new USD83 million carbon black manufacturing plant in Dahej, Gujarat, India. According to the report, the new plant will have a capacity of 150,000 tons with four production lines. Continental Carbon India President T.M. Chen discussed the importance of the investment, stating, “The second manufacturing unit based in the state of Gujarat will not only give us acce...
    Nokian to set up new EUR650 million tire plant in Romania
    Finnish tire manufacturer Nokian announced via press release on 1 November that its Board of Directors had made the decision to invest EUR650 million (USD643.5 million) to set up a new greenfield passenger car tire factory in Oradea, north-west Romania. According to the press release, the new plant will have a capacity of 6 million tires and is expected to start commercial production in early 2025. The large-rim size passenger and sport utility vehicle (SUV) tires produced at the facility wil...
    Sentury to set up new EUR477 million wind energy-powered tire plant in Spain
    Invest in Spain announced via press release on 25 October that Chinese tire manufacturing company Qingdao Sentury Tire Co. will be setting up an EUR477 million (USD472.7 million) tire manufacturing facility in Galicia, northwest Spain. The new tire manufacturing site will reportedly be set up at the location of an existing thermal power plant operated by Endesa that is set to be dismantled in line with the region’s energy transition strategy. Endesa will reportedly also partner with Italian...
    GAC opens new ‘R&D Center Europe’ in Milan, Italy
    GAC Group has announced the opening of GAC Research and Development Center Europe (R&D Center Europe) in Milan, Italy, according to a press release on 31 October 2022. As part of GAC's ongoing mission to go global, the launch of R&D Center Europe marks another milestone in the company's expansion strategy, the company said. The hub pools together the industry resources including leading suppliers and R&D institutions, forming an ecosystem of global excellence to strengthen overall...
    Pirelli to expand high-value tire capacity at Mexican plant with EUR114 million investment
    Italian tire manufacturer Pirelli announced via press release on 29 October that it will investing EUR114 million (USD113.5 million) to expand production capacity of high-value tires at its plant in Silao, Mexico. According to the press release, the investment, involving an expansion of the production area of 16,000 square meters, will increase the tire capacity at the plant from 7.2 million tires currently to 8.5 million tires by 2025. Significance: The Silao plant’s production is curre...
    Gotion High-Tech to invest USD1.6 billion in two new battery plants in China
    China-based battery maker Gotion High-Tech plans to invest a total of CNY11.5 billion (USD1.6 billion) in setting up two new battery plants in an attempt to expand its manufacturing capacity in China, according to a news report published by CNEVPOST on 26 October 2022. The planned investment includes a CNY6.7 billion (USD928 million) project in Xinzhan High-Tech Industrial Development Zone in Hefei, Anhui province, and another CNY4.8 billion (USD665 million) project that is slated t...
    Magna plans to invest USD500 million to expand manufacturing footprint across Michigan
    Canadian automotive supplier Magna International plans to invest more than USD500 million in expanding its operations across Michigan, the company announced on 25 October 2022. The company said that it plans to expand its existing facility in St. Clair and also open two new plants, in Shelby Township and in Detroit. Notably, Magna’s existing plant in St. Clair is being expanded for ramping up production of battery enclosures. Meanwhile, the new facilities in Shelby Township and De...
    Battery recycler Ascend Elements raises USD200 million in Series C funding
    Battery recycling company Ascend Elements announced via press release on 26 October that it had raised USD200 million in Series C equity investments from a range of international financial investors. According to the press release, the investment round was led by Los Angeles-based private fund Fifth Wall Climate and Korean construction engineering company SK ecoplant. New investors in the round reportedly included Oman Investment Authority, Lithium Americas Corporation, GLy Capital Management...
    loading
    preload preload preload preload preload preload