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    Major revision for global light vehicle production forecast – what it means for OEMs’ technology deployment
    The IHS Markit light vehicle production forecast has been cut by 6.2% or 5.02 million units in 2021, and by 9.3% or 8.45 million units in 2022, to stand at 75.8 million units and 82.6 million units, respectively. For 2023, we have reduced the forecast by 1.05 million units or 1.1% to 92 million unit...
    What Fit for 55 means for all member nations in the European Union
    Unveiling a roadmap to make Europe the world’s first climate neutral continent by 2050, the European Commission rolled out the ‘Fit for 55’ package on 14 July 2021, proposing that the suggestions made by the governing body be made legally binding for all members of the European Union (EU). ...
    19-Aug-2021 Insights Policy & Regulation Pinned
    Mainland Chinese firm Qihoo 360 Technology to invest USD451 million in Hozon Auto
    Mainland Chinese internet security company Qihoo 360 Technology has announced plans to invest CNY2.9 billion (USD451 million) in Hozon Auto, Pandaily reported on 19 October. This will make Qihoo 360 making it the second-largest shareholder (around 16%) in NETO Auto, a brand under Hozon. Qihoo’s in...
    20-Oct-2021 News Investments
    Honda to spend USD2 million on initiatives promoting young driver safety
    According to a press release published on PR Newswire on 18 October, Honda is expanding its "Safety For Everyone" approach with several new initiatives aimed at young driver safety. The multi-pronged effort includes more than USD2 million in safety-related financial assistance, driver safety educ...
    20-Oct-2021 News Investments
    Toyota to invest USD3.4 billion in localizing EV battery production in the U.S. through 2030
    Toyota announced on 18 October that it plans to invest about USD3.4 billion in developing and manufacturing automotive batteries in the U.S. through 2030. The company said that proposed investments on battery production in the U.S. is part of its larger strategy wherein it has earmarked about USD13....
    19-Oct-2021 News Investments
    Ford Motor to invest around USD316 million to produce EV parts at UK plant
    Ford Motor Company plans to invest USD316 million to produce EV components at its Halewood factory in northern England, Reuters reported on 18 October, citing a company announcement. It said that the Ford factory will be retooled to start manufacturing around 2,50,000 power units a year from mid-...
    19-Oct-2021 News Investments
    Tata Motors plan to invest over USD2 billion in electric vehicles
    India’s leading automaker Tata Motors plans to invest more than USD2 billion in its electric vehicle (EV) business over the next five years, Reuters reported on 13 October, citing a senior company executive. The news comes after the vehicle manufacturer had announced that it has raised USD1 billio...
    15-Oct-2021 News Investments
    Hyundai Mobis to invest USD1.1 billion in two new hydrogen fuel cell system plants in South Korea
    Hyundai Mobis plans to build two new fuel cell plants in South Korea to accelerate the development of hydrogen fuel cell systems, the company said in a press release on 7 October. The company had organized a groundbreaking ceremony for the new plant that is slated to produce hydrogen fuel cell stack...
    11-Oct-2021 News Investments
    Stellantis to invest USD229 million in Kokomo, Indiana operations to accelerate EV plans
    Stellantis plans to invest a total of USD229 million in three of its Kokomo, Indiana, plants in an effort to reach its goal of achieving 40% low-emission vehicle sales in the US by 2030, the automaker said in a press release on 7 October. The company said that its head of powertrain operations Br...
    11-Oct-2021 News Investments
    BMW Group invests in US based lithium extraction technology startup Lilac Solutions
    To promote environment-friendly, resource-efficient extraction of lithium required for its large-scale electric vehicle (EV) plans, the BMW Group, through its venture capital fund BMW i Ventures, is investing in an innovative process developed by the US-based lithium extraction technology startup, L...
    07-Oct-2021 News Investments
    Causis E-Mobility plans to set up EV plant, Gigafactory in India
    UK-based electric vehicle startup Causis E-Mobility will invest INR28 billion (USD377 million) to set up a zero-emission electric vehicle (EV) manufacturing facility in Talegaon, near Pune, India, according to a report filed by the newspaper Business Standard on 1 October. The report mentioned th...
    05-Oct-2021 News Investments
    Ford Motor, SK Innovation plan to invest USD11.4 billion to set up EV, battery plants in the US
    Announcing its largest ever investment in the US in electric vehicles (EVs) on 27 September, Ford Motor Company and its South Korean battery partner SK Innovation plans to invest USD11.4 billion in setting up production sites at Tennessee and Kentucky, creating nearly 11,000 new jobs. The plan in...
    28-Sep-2021 News Investments
    Polestar opens first independent R&D center in UK
    Swedish premium electric performance vehicle manufacturer Polestar announced via press release on 14 September that it will be opening a new R&D center at the MIRA Technology Park in the UK’s Midlands. According to the press release, the 250-strong team at the UK facility will be worki...
    24-Sep-2021 News Investments
    Ford to invest another USD250 million at Rouge EV Center to add capacity of F-150 Lightning
    Ford Motor Company plans to invest an additional USD250 million and add another 450 direct jobs across its facilities located in Michigan, including the Rouge Electric Vehicle Center, Van Dyke Electric Powertrain Center and Rawsonville components plant, the company said in a press release on 16 Sept...
    23-Sep-2021 News Investments
    Foxconn and PTT sign JV agreement to make EVs in Thailand
    Taiwan-based electronics manufacturer Hon Hai Technology Group, also known as Foxconn, and Thailand’s energy company PTT Public Company Limited (PTT) have signed a joint venture (JV) agreement to develop and manufacture electric vehicles (EVs) in Thailand, Foxconn said in a press release on 14 Sep...
    21-Sep-2021 News Investments
    Toyota unveils EV battery strategy, plans to invest nearly USD14 billion by 2030
    Unveiling its electric vehicle (EV) battery strategy to the media and investors in a press conference on 7 September, Japanese carmaker Toyota Motor Corporation said that it plans to invest nearly JPY1.5 trillion (USD14 billion) on developing the battery supply chain and research and developmen...
    08-Sep-2021 News Investments
    Porsche to expand engineering and assembly operations in Asia
    Germany-based sportscar manufacturer, Porsche, has announced that it is expanding its presence and operations in the Asian region. According to a press release issued by Porsche on 30 August, the company is establishing a new permanent research and development satellite in Shanghai, China, and a sma...
    31-Aug-2021 News Investments
    EV startup Nuro to invest USD40 million in Nevada, US to manufacture AVs
    EV manufacturing startup, Nuro, has announced a USD40 million investment to develop two new facilities, an end-of-line manufacturing facility and a closed-course test track, in southern Nevada, US. According to a press release issued by Nuro on 26 August, the company will commercialize and scale pro...
    31-Aug-2021 News Investments
    Need to develop alternate, localized supply chain to mitigate risks, says Hyundai India CEO
    There is a need to develop an alternate and localized supply chain to mitigate the impact of disruption and push localization in the domestic automotive sector, SS Kim, managing director and CEO at Hyundai Motor India said, according to a report filed by the news agency PTI on 27 August. Kim said...
    27-Aug-2021 News Investments
    Ford to redesign Niehl assembly plant in Germany to establish the Cologne Electrification Center
    Ford has commenced the initial construction work to transform its Niehl assembly plant in Cologne, Germany, into the new Cologne Electrification Center. According to a press release issued by Ford on 18 August, the company stated that this new facility will be used for the preparation of vehicle bod...
    19-Aug-2021 News Investments
    GM Ventures invests in emergency response company RapidDeploy
    GM Ventures has participated in the USD40 million in Series B funding round for public safety technology company RapidDeploy, it said in a press release on 10 August. The investment will help RapidDeploy improve situational awareness with a cloud-native, data-driven solution and enable next-generati...
    11-Aug-2021 News Investments
    Nissan, AESC plan to set up USD456 million gigafactory in Japan
    Nissan Motor Company and its battery partner Envision plan to invest an initial investment of JPY50 billion (USD456 million) to set up a battery factory with an annual production capacity of 6 GWh in 2023, Bloomberg said a report, citing a confidential document. It said that the proposed Gigafact...
    05-Aug-2021 News Investments
    Ashok Leyland to invest USD200 million in Switch Mobility to develop EVs
    Indian commercial vehicle manufacturer Ashok Leyland, which plans to shift its entire electric vehicle (EV) business to its 100% subsidiary Switch Mobility over years, said it will invest about USD200 million in electrification and associated technologies via its EV subsidiary, news publication ET A...
    29-Jul-2021 News Investments
    Ford Motor to set up USD100 million global battery R&D lab in Michigan
    Ford Motor Company plans to set up a new global battery center of excellence called Ford Ion Park with the intent to accelerate the company’s research and development of battery and battery cell technologies, it said in a press release on 27 July. Anand Sankaran, Ford Ion Park director said, ...
    29-Jul-2021 News Investments
    EV startup Rivian plans to invest USD5 billion in its second US plant
    Electric vehicle (EV) startup Rivian plans to invest USD5 billion in its second assembly plant in the US, Reuters reported, citing a company document shared with the state economic development officials. According to a revised economic development document seen by the news agency, Rivian’s seco...
    28-Jul-2021 News Investments
    REE Automotive to open US Headquarters and Integration Center in Austin, Texas
    REE Automotive announced that it will open its US headquarters in Austin, Texas, to address the growing market demand for electric vehicles (EVs) from delivery and logistics companies, Mobility-as-a-Service (MaaS) and new technology players. REE intends to tap into a global network of tier-1 partner...
    27-Jul-2021 News Investments
    Mercedes-Benz plans to invest USD47 billion by 2030 to become fully-electric OEM
    Mercedes-Benz plans to invest EUR40 billion  (USD47 billion) between 2022 and 2030 in developing battery electric vehicles (BEVs) as it plans to go all electric by 2030, the German luxury carmaker said in a press announcement on 22 July. The company said that while it will roll out BEVs in e...
    EV startup Rivian confirms second manufacturing plant in the US
    Electric vehicle (EV) manufacturing startup Rivian has announced that it intends to establish a second manufacturing facility in the United States. According to a report filed by business news agency Reuters on 22 July, the Amazon- and Ford-backed company’s new plant will also have the c...
    23-Jul-2021 News Investments
    Why the Nissan-Envision AESC gigafactory is strategic for UK’s EV battery supply chain
    Unveiling its strategy to put the UK at the center of its electric vehicle (EV) game plan for Europe, Nissan, along with its battery partner Envision AESC, made a crucial announcement on 1 July to jointly invest GBP1 billion (USD1.37 billion) in the northeastern region to set up the country’s firs...
    Volkswagen Group commissions 45,000 high-power EV charging stations by 2025
    German vehicle manufacturer Volkswagen Group plans to set up a wide network of electric vehicle (EV) charging stations across Europe, North America, Canada, and mainland China by 2025 as part of its overall transition to become a full-scale EV ecosystem company through this decade, it said whil...
    16-Jul-2021 News Investments
    General Motors invests over USD71 million in new advanced design center in California
    American car maker General Motors (GM) has announced an investment of over USD71 million to establish a new campus in Pasadena, California, for GM’s Advanced Design Center operations. According to a press release issued by GM on 13 July, the company stated that this new eight-acre facili...
    16-Jul-2021 News Investments
    Electrify America to more than double EV charging network under ‘Boost Plan’
    Electric vehicle (EV) charging network provider Electrify America plans to more than double its current EV charging infrastructure in the United States and Canada, with plans to have more than 1,800 fast-charging stations and 10,000 individual chargers installed by the end of 2025, the com...
    15-Jul-2021 News Investments
    MG Motor, Fortum set up 50 kW public EV charging station in India’s Pune city
    British car maker MG Motor has announced that it has collaborated with Fortum Charge & Drive India to establish a 50 kilowatt (kW) fast charging station for electric vehicles (EVs) in the Indian city of Pune. According to a report filed by news agency ET Auto on 10 July, this facility is in...
    13-Jul-2021 News Investments
    EV maker Nio reveals midterm charging infrastructure deployment plan
    Shanghai-based electric vehicle (EV) maker Nio revealed its midterm battery charging infrastructure deployment plan at its first Nio Power Day held on 9 July. Raising its 2021 target to installing over 700 battery swap stations instead of 500 earlier, the EV maker now plans to set up another 600 ...
    12-Jul-2021 News Investments
    German EV startup Next e.Go Mobile to build production plant in Bulgaria
    Germany-based electric vehicle (EV) startup e.GO Mobile has announced plans to set up a new vehicle manufacturing facility in Bulgaria. According to a report filed by business news agency Reuters on 10 July, e.GO Mobile will be investing EUR140 million to build this new plant. ...
    12-Jul-2021 News Investments
    Stellantis pledges over USD35.6 billion for its electrification strategy
    Amsterdam-based global automobile manufacturer Stellantis N.V. has pledged investments of more than 30 billion euro (USD35.6 billion) over the next five years for its vehicle electrification strategy that will be implemented through this decade across all 14 brands it owns, the company said in a hig...
    10-Jul-2021 News Investments
    Stellantis to invest USD118 million in UK factory to make electric vans and cars
    Stellantis has announced that it will invest EUR100 million (approximately USD118 million) in its manufacturing facility in northwestern England to produce electric cars and vans. According to a press release issued by Stellantis on 6 July, the investment will be made at Vauxhall’s Ellesmere Port ...
    07-Jul-2021 News Investments
    GM expands China design studio to focus on EVs, smart cars
    US carmaker General Motors has expanded its design studio in China, which will focus only on developing electric and connected cars, the company’s Chinese arm said in a press release on 5 July. “As a leading vehicle design facility and an important part of the GM global design network, i...
    06-Jul-2021 News Investments
    Hyundai buys stake in lithium metal battery startup SolidEnergy Systems
    South Korean carmaker Hyundai Motor Company has invested about USD100 million to acquire an undisclosed stake in US-based lithium metal battery startup SolidEnergy Systems (SES), Reuters reported on 5 July, citing Korean news publication Yonhap. "As we have been investing in various companies rel...
    06-Jul-2021 News Investments
    BMW i Ventures earmarks additional USD300 million to invest in startups
    German premium carmaker BMW AG has set up a second corporate venture fund, BMW i Ventures Fund II, earmarking USD300 million to finance new and upcoming startups that are focused on futuristic technologies around sustainability, advanced manufacturing and future transportation, the company announced...
    02-Jul-2021 News Investments
    Nissan, Envision AESC announce USD1.37 billion plan to create EV ecosystem in UK
    Japanese carmaker Nissan has unveiled ‘Nissan EV36Zero’, which is its GBP1 billion (USD1.37 billion) plan to set up its flagship electric vehicle (EV) manufacturing ecosystem in the United Kingdom. The ecosystem would be centered around its existing plant in Sunderland, UK, the company said in a...
    02-Jul-2021 News Investments
    Volvo to boost electrified vehicle production at South Carolina plant
    Swedish luxury car maker Volvo Cars has announced that it will invest an additional USD118 million into its Ridgeville plant located in South Carolina, United States, to manufacture the new-generation Polestar 3 electric sport utility vehicle (SUV). According to a press release issued by V...
    02-Jul-2021 News Investments
    Tesla unveils 3,100-mile supercharger network along China’s Silk Road
    Electric car company Tesla Inc has unveiled a 3,100-mile supercharger network across the breadth of China, the company said on 19 June. The stretch connecting China’s western coastal city Zhoushan with the eastern city of Horgos, which borders Kazakhstan, covers nine cities and is laid out with 27...
    24-Jun-2021 News Investments
    GM looking at longer-term supply contracts and partnerships for chips
    As per press release on Reuters dated 16 June, General Motors is looking at signing longer-term supply contracts or partnering with chip and wafer suppliers in the future to mitigate the impact it has seen from the global semiconductor shortage, according to the automaker's CFO Paul Jacobson. ...
    22-Jun-2021 News Investments
    Porsche Engineering opens second R&D location in Timișoara, Romania
    Technology service provider and wholly owned subsidiary of Porsche, Porsche Engineering, has inaugurated a new research and development site in Timișoara, Romania. According to a press release issued by Porsche on 15 June, the company is planning to employ primarily software development and testing...
    21-Jun-2021 News Investments
    GM to raise EV, AV investments through 2025 to USD35 billion
    General Motors announced it will increase its EV and autonomous vehicle investments from 2020 through 2025 to USD35 billion, representing a 75% increase from its initial commitment of USD20 billion announced prior to the pandemic in March 2020. In November 2020, GM increased its planned investment o...
    17-Jun-2021 News Investments
    GM-backed Cruise secures USD5 billion line of credit to commercialize autonomous robo-taxis
    General Motors-owned self-driving vehicle unit Cruise has secured a multi-year USD5 billion line of credit to fund the purchase of Origin vehicles from 2023, Reuters reported on 15 June. The American automaker has been assembling the first of about 100 pre-production Cruise Origin all-electric vehic...
    16-Jun-2021 News Investments
    US Government announces supply chain disruptions task force
    The US Government will establish a new Supply Chain Disruptions Task Force that will address the near-term supply chain challenges to ensure faster economic recovery, it said in a statement on 8 June 2021. According to the statement, the Biden-Harris administration’s task force will be led by t...
    09-Jun-2021 News Investments
    General Motors to establish new technical center in Charlotte, US in 2022
    General Motors broke ground on the new Charlotte Technical Center in North Carolina US. According to a press release issued by GM on 3 June, the company stated that this new 130,000-square-foot facility located in Concord, NC, will accelerate strategic knowledge transfer between motorsport and ...
    08-Jun-2021 News Investments
    Russia to invest USD10.5 billion in BEVs, hydrogen FCEVs by 2030
    The Government of Russia plans to invest RUB777 billion (approximately USD10.5 billion) into the development of electric and hydrogen vehicles by 2030. According to a report filed by The Moscow Times news agency on 1 June, the government plan estimates that there could be 1.5 million electric v...
    07-Jun-2021 News Investments
    Tesla plans to spend over USD1 billion a year to source battery raw materials from Australia
    Tesla expects to spend more than USD1 billion annually on battery raw materials from Australia, reports Reuters. The electric vehicle (EV) maker has made this decision basis Australia’s robust mining industry and responsible production practices. Significance: The Reuters report quoted Robyn De...
    04-Jun-2021 News Investments
    BMW plans to build 360,000 EV charging stations in mainland China
    BMW plans to add 360,000 electric vehicle (EV) charging stations across mainland China this year, reports Nikkei Asia. Significance: Based on its plans around improving charging infrastructure across mainland China, BMW said that it will collaborate with local players, including EV charging infra...
    04-Jun-2021 News Investments
    SK Holding partners with US autonomous driving companies to target Asia-pacific market
    According to autoeconomictimes, a report on May 27 by Reuters and other foreign media reported that SK Group is partnering with an American autonomous driving company Kodiak to target the Asia-Pacific autonomous driving market worth KRW1,677 trillion, including Korea, Japan, mainland ...
    01-Jun-2021 News Investments
    Ford expects 40% of its global vehicle volume to be all-electric by 2030
    Ford anticipates that 40% of its global vehicle volume will be fully electric by 2030, according to a company press release on 26 May 2021. This electric vehicle (EV) model lineup will include Mustang Mach-E, the all-electric version of F-150 Lightning pickup truck, and E-Transit commercial vans to ...
    Vingroup JSC boosts production of EVs
    Vingroup JSC is increasing its production of electric vehicles (EVs) and shutting down its electronics devices’ unit VinSmart, the Bloomberg Quint reported on 9 May. The company believes the closure of VinSmart will allow Vingroup to “mobilize all resources” in the development of its car makin...
    25-May-2021 News Investments
    GM investing USD40 million at Pontiac Stamping Plant for flexible fabrication technology
    General Motors (GM) has announced plans to invest USD40 million at its Pontiac Stamping Plant. The OEM will use the investment to renovate the existing facility, and install new, “highly flexible” sheet metal fabrication machinery called “Flex Fab” and presses to back future electric vehicle...
    18-May-2021 News Investments
    Hyundai to invest USD7.4 billion in the US for EVs, hydrogen ecosystem
    The Hyundai Motor Group (HMG), which includes the Hyundai Motor Company and the Kia Corporation, announced its plan to invest USD7.4 billion in the US by 2025 to produce future electric vehicles (EVs), enhance production facilities, and further its investments in smart mobility solutions. Hyundai...
    17-May-2021 News Investments
    Volkswagen, QuantumScape to select location for solid-state battery JV plant this year
    QuantumScape Corporation and Volkswagen Group of America have entered into an agreement to select the location of their joint-venture solid-state battery pilot-line facility by the end of 2021, according to a company press release on 14 May. The companies are currently considering Salzgitter, German...
    17-May-2021 News Investments
    Porsche plans to establish EV battery cells plant in Tübingen, Germany
    German premium sportscar manufacturer, Porsche, is planning to set up a new electric vehicle (EV) battery cells plant in Germany. According to a report filed by news agency Reuters on 24 April, the Volkswagen-owned carmaker intends to locate this new manufacturing facility in the German town of Tüb...
    11-May-2021 News Investments
    Ford, thyssenkrupp join consortium to develop new production processes for e-motors
    Ford, thyssenkrupp, RWTH University Aachen, and Engiro, as part of an industry consortium have kicked-off a research project to develop “flexible and sustainable production-processes for future generation e-motors,” according to a company press release on 6 May. The companies will create a test ...
    10-May-2021 News Investments
    Volkswagen to invest USD88 million for press shop expansion in Zwickau, Germany
    Volkswagen has inaugurated the press shop expansion in its electric vehicle (EV) plant in Zwickau, Germany with an investment of EUR74 million (USD88 million), according to a company press on 5 May. A major part of the expansion is the new XL press, which weighs 180 tons, with a press force of ...
    06-May-2021 News Investments
    EV startup Aiways unveils new U6, secures investment from CATL
    Aiways unveiled new images of its next electric vehicle (EV), the Aiways U6, on company website dated 29 April. The Aiways U6 will become the second vehicle to be mass-produced on the company’s exclusive More Adaptable Structure (MAS) platform. It will sit alongside the Aiways U5 in the line-up...
    05-May-2021 News Investments
    BMW, Ford invest in solid-state battery startup Solid Power
    Solid-state battery supplier, Solid Power has announced a USD130 million Series B investment round led by the BMW Group, Ford Motor Company, and Volta Energy Technologies, according to a company press release by Solid Power on May 3. Ford and the BMW have also expanded their existing agreements with...
    04-May-2021 News Investments
    Audi launches initiative for digital factory transformation in Heilbronn, Germany
    Audi is launching the ‘Automotive Initiative 2025’ to establish a world-leading competence network for digital factory transformation and innovation as per a press release on company’s website dated 30 May. In Neckarsulm, Germany, the Audi site will assume a central role as a pilot fac...
    04-May-2021 News Investments
    General Motors invests over USD1 billion in its Ramos Arizpe facility in Mexico
    General Motors (GM) has announced that it is investing more than USD1 billion in the Ramos Arizpe Manufacturing Complex to inaugurate a new painting plant that is scheduled to start operations in June 2021. GM Ramos Arizpe has begun construction work on its new facilities within the complex, where G...
    03-May-2021 News Investments
    EV charging startup Virta raises EUR30 million in funding round
    Virta announced that it has drawn “significant funding from major technology investors in Europe and Asia,” according to a company press release on 20 April. The company has raised EUR30 million in a funding round, to further push electric mobility on a global level. The investment round was com...
    Toyota to invest USD803 million in Princeton plant in Indiana, US
    Toyota Motor Manufacturing Indiana (TMMI) has announced a USD803 million investment for the Princeton, Indiana, US, manufacturing plant in preparation to introduce two new sports utility vehicles (SUVs), one of which will officially introduce the Lexus line to Toyota Indiana. According to a press...
    29-Apr-2021 News Investments
    Ford to build new electric light commercial vehicle in Romania in 2024, invests USD300 million
    American car maker, Ford, has confirmed that it will invest USD300 million to build a new light commercial vehicle in 2023 at its Craiova assembly plant in Romania, including a pure-electric version scheduled to debut in 2024. The start date for production of the new vehicle will be confirmed closer...
    28-Apr-2021 News Investments
    Volkswagen to set up new MEB electric car manufacturing plant in mainland China
    Volkswagen Group China has begun construction of its all-new MEB plant (Modularer E-Antriebs-Baukasten; modular electric-drive toolkit) at Volkswagen Anhui in mainland China, according to a company press release. This is the Group’s third pure electric vehicle (PEV) in mainland China apart from th...
    28-Apr-2021 News Investments
    Ford Ion Park global battery center of excellence established in Michigan, US
    Ford has announced a new global battery center of excellence, called Ford Ion Park, to accelerate research and development of battery and battery cell technology, including future battery manufacturing. According to a press release issued by Ford on 27 April, an additional USD185 million will be inv...
    28-Apr-2021 News Investments
    GM, LG Energy to invest USD2.3 billion in Ultium Cells production plant in Spring Hill, US
    Ultium Cells LLC, a joint venture (JV) of LG Energy Solution and General Motors (GM), have announced a more than USD2.3 billion investment to build its second battery cell manufacturing plant in the United States. The facility will be located in Spring Hill, Tennessee. According to a press releas...
    27-Apr-2021 News Investments
    DuPont to build USD30-million plant for vehicle adhesives in Jiangsu, China
    DuPont has announced that it is investing roughly USD30 million to build a new production facility in mainland China in Zhangjiagang, Jiangsu Province. According to a company press release on 20 April, the new facility will produce adhesives for the transportation industry, to cater to demands for v...
    22-Apr-2021 News Investments
    Polestar raises USD550 million to fuel product expansion
    Sweden-based electric performance carmaker, Polestar, has announced that it has raised USD550 million from its long-term financial investors. According to a press release issued by Polestar on 15 April, this private placement of newly issued shares marks the first time external investors have backed...
    16-Apr-2021 News Investments
    Mahindra to invest USD400 million in EV business over 3 years
    Indian carmaker Mahindra & Mahindra (M&M) has announced that it will be making fresh investments of INR3,000 crores (approximately USD400 million) in its electric vehicle (EV) business line over the next three years. According to a report filed by news publication Busines...
    15-Apr-2021 News Investments
    Rimac to open new headquarters in Zagreb, Croatia
    Croatian high-performance EV manufacturer, Rimac Automobili, has announced that it will be establishing its new headquarters on the outskirts of Zagreb, Croatia. According to a press release issued by Rimac on 12 April, this new facility will include an on-site test track, accommodation, and museum,...
    14-Apr-2021 News Investments
    Xpeng to establish new EV production plant in Wuhan, China
    Chinese EV maker, Xpeng Inc., has announced that it has entered into a cooperation agreement with the city of Wuhan in China to build a new XPeng Motors Wuhan smart EV manufacturing base. According to a press release issued by Xpeng on 8 April, XPeng will commence the construction of the new manufac...
    09-Apr-2021 News Investments
    Hercules Electric Vehicles opens USD20 million Series A funding round
    Detroit-based Hercules Electric Vehicles, which is developing an all-electric luxury pickup truck, has announced opening a USD20 million Series A funding period to help bring the vehicle to market in late 2022. The company is developing an all-electric sport pickup truck named Hercules Alpha with mo...
    06-Apr-2021 News Investments
    Genesis enters Chinese market, unveils G80 and GV80 models
    Global luxury automotive brand Genesis marked its official entry into China at Shanghai's International Cruise Terminal. The distinctive Genesis design philosophy was showcased with an unveiling of the Genesis G80, its mid-sized luxury sedan, and Genesis GV80, the first SUV in the lineup. Jaehoon...
    06-Apr-2021 News Investments
    Volkswagen invests additional USD100 million in QuantumScape for solid-state battery tech
    QuantumScape has announced it has successfully met the technical milestone that was a condition to close the investment of an additional USD100 million by Volkswagen Group of America Investments, LLC into the company, according to an Securities and Exchange Commission (SEC) filing on 31 March. This ...
    06-Apr-2021 News Investments
    Toyota Motor Corporation invests in e-Mobility Power Inc.
    e-Mobility Power, Inc., the equity holders of which are Tokyo Electric Power Company Holdings (TEPCO HD) and Chubu Electric Power Co., Inc. entered into an absorption-type corporate division agreement with Nippon Charge Service, LLC on 5 February. According to a press release issued by Toyota on 5 A...
    06-Apr-2021 News Investments
    UK Government to invest over GBP30 million for battery technology, hydrogen vehicles
    On March 30, the UK Government announced a GBP30 million funding in research of battery technology, the electric vehicle (EV) supply chain and hydrogen vehicles. Around GBP9.4 million will be spent on 22 studies to develop innovative automotive technology, including hydrogen...
    05-Apr-2021 News Investments
    Toyota Woven Capital invests in AV startup Nuro’s Series C funding round
    Woven Capital, L.P., a USD800 million global investment fund that supports growth-stage companies in mobility, made an equity investment in Nuro, a robotics company providing autonomous delivery. This marks the first investment from Woven Capital, which was established in January 2021 as the investm...
    29-Mar-2021 News Investments
    Faraday Future raises USD100 million following SPAC merger agreement
    Faraday Future, a California-headquartered global shared intelligent mobility ecosystem company, announced that it has raised approximately USD100 million in debt financing commitments led by Ares, along with existing lender Birch Lake and other lenders joining the debt financing round. According...
    29-Mar-2021 News Investments
    MAHLE to invest USD14.19 million in five new testing and development facilities worldwide
    Automotive powertrain and electromobility components supplier, MAHLE Powertrain, has announced that it is investing EUR12 million (approximately USD14.19 million) in the construction of five new testing and development facilities. According to a press release issued by MAHLE on 24 March, the company...
    25-Mar-2021 News Investments
    Porsche to begin trials of synthetic fuels in 2022
    Porsche sports car head Frank Walliser has said that the automaker is looking to begin trials of its own synthetic fuel in 2022, that will be compatible with unmodified combustion engines, according to a report by Autocar on 16 March. Speaking ahead of the unveiling of the new 911 GT3, Walliser a...
    23-Mar-2021 News Investments
    Volkswagen to deliver over 450,000 electric vehicles to customers in 2021
    Volkswagen (VW) has announced that it will deliver over 450,000 electric vehicles (EVs) to customers in 2021, more than double the 2020 figure. With its new ACCELERATE strategy, VW will be piloting a subscription model for the ID.3 in six German cities, to test the acceptance of use-based billi...
    19-Mar-2021 News Investments
    UK government further slashes subsidies on electrified vehicles
    The UK government has updated the grant scheme for electric cars, vans, and trucks to target less expensive models, according to a press release on 18 March. From 18 March 2021, the government will provide grants of up to USD3,486 (GBP2,500) for electric vehicles (EVs) priced under USD49,505 (G...
    Porsche to produce high-performance batteries with silicon anodes
    Porsche is looking into high-performance batteries with silicon instead of graphite anodes to achieve higher energy density and better fast-charging capability, according to a company press release on 16 March. The new batteries will be produced in limited volumes in Europe for high-performance vehi...
    19-Mar-2021 News Investments
    Volvo invests in Israeli EV charging software company, Driivz
    Swedish automaker Volvo Group Venture Capital AB has invested in Israel-based EV charging software company, Driivz Ltd. According to a press release issued by Volvo on 16 March, a joint pilot project between Volvo Trucks, the Volvo Group and Driivz is ongoing with the aim of developing and testing n...
    18-Mar-2021 News Investments
    EV startup Arrival to build second US Microfactory in Charlotte, NC
    US-based commercial EV maker Arrival has announced that it will be building its second US Microfactory in Charlotte, North Carolina, US, according to a company press release on 17 March. This Microfactory will produce electric delivery vans for UPS and is expected to create over 250 new jobs in Char...
    18-Mar-2021 News Investments
    Geely to invest USD4.6 billion in new EV battery plant in mainland China
    Mainland Chinese vehicle manufacturer, Geely, has said that it will be setting up an electric vehicle (EV) battery factory with a planned annual manufacturing capacity of 42 GWh in mainland China. According to a report filed by business news agency Reuters on 15 March, this facility will be located ...
    16-Mar-2021 News Investments
    VinFast plans to set up EV manufacturing plant in US
    Vietnam-based electric vehicle startup, VinFast, has announced plans to open a factory in the United States. According to a report published by news agency Bloomberg on 2 March, the company has set up a research office in San Francisco employing 50 staff members. VinFast is preparing to commence ele...
    15-Mar-2021 News Investments
    Porsche increases stake in high-performance EV startup Rimac to 24%
    The Supervisory Board of Germany-based sportscar manufacturer, Porsche AG, has agreed to increase its stake in Rimac Automobili from 15% to 24%. According to a press release issued by Porsche on 8 March, the company joined Rimac as an investor in 2018 and raised its stake to 15% in September 2019. T...
    09-Mar-2021 News Investments
    Mercedes-Benz to upgrade Germany’s Untertürkheim plant for electric drives and battery technology
    German luxury car manufacturer, Mercedes-Benz, has announced that it is transforming its Mercedes-Benz Drive Systems unit and its Stuttgart-Untertürkheim site for an “Electric First” future in the context of Ambition 2039–the company’s strategy toward carbon neutrality. According to a pr...
    08-Mar-2021 News Investments
    Mercedes-Benz AMG breaks ground for new technology center in Affalterbach, Germany
    Mercedes-Benz AMG broke ground on new technology center in Affalterbach, Germany for the development of electrified high-performance powertrains and electrical components, the automaker announced in a press release on 4 March. The new Technikum tech center spanning over an area of 5000 square meters...
    General Motors, LG explore setting up second battery plant in US
    General Motors (GM) and LG Energy Solutions, through their joint venture (JV) Ultium Cells LLC, are exploring plans setting up a second battery plant in the United States, Reuters reported on 4 March, citing a confirmation from GM. According to the report, the companies are in talks with Tennes...
    05-Mar-2021 News Investments
    Mercedes-Benz investing double-digit million amount to upgrade Berlin-Marienfelde plant in Germany
    Mercedes-Benz is investing a double-digit million amount to transform its Berlin-Marienfelde plant in Germany into a campus for developing, testing, and implementing pioneering software applications for its global production network. According to a press release issued by Mercedes-Benz on 3 March, t...
    04-Mar-2021 News Investments
    Hyundai breaks ground on fuel cell system plant in mainland China
    Hyundai has broken ground on a new fuel cell system in Guangzhou, mainland China, the company announced in a press release on 2 March. The construction of the HTWO Guangzhou plant is expected to be completed in the second half of 2022 and will have an annual production target of 6,500 units initiall...
    02-Mar-2021 News Investments
    Fisker plans building EV battery cell plant in US or Europe
    Fisker is mulling setting up an electric vehicle (EV) battery cell manufacturing plant in either Europe or the United States, Reuters reported on 26 February citing Fisker Inc CEO Henrik Fisker. Fisker is planning to set up in partnership with a yet unknown major battery supplier. “We did not...
    26-Feb-2021 News Investments
    Spanish startup Lupa to set up EV plant in Uruguay
    Spanish electric vehicle (EV) startup Lupa is planning to set up an EV manufacturing plant in Uruguay, the company announced in a press release on 23 February. The factory will start producing and delivering the first models in 2024 and will have a capacity of 20,000 vehicles per year. “We are ver...
    25-Feb-2021 News Investments
    Magna begins construction of new battery enclosure production plant in Michigan, US
    Canadian automotive components and systems supplier, Magna International, announced that it has broken ground on a new manufacturing facility in St. Clair, Michigan, US. According to a press release issued by Magna on 23 February, the company stated that this new facility will build complex battery ...
    24-Feb-2021 News Investments
    Toyota to invest USD210 million to upgrade West Virginia plant in US
    Toyota Motor Manufacturing West Virginia, US, has announced that it will invest USD210 million to upgrade its existing engine production line. According to a press release issued Toyota Motor USA on 18 February, the company stated that the objective of this is to help meet customer demand, and to th...
    19-Feb-2021 News Investments
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