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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
    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
    DAG Tech to invest USD10 million in Michigan to manufacture decorative wheel trims
    The Office of the Governor of the State of Michigan, United States, announced via a press release on 12th October that auto supplier DAG Technology will be investing USD10 million to establish a new manufacturing facility in the Grand Blanc Township. According to the press release, DAG plans to b...
    15-Oct-2021 News Investments
    CATL plans to build battery material recycling facility in China
    Leading electric vehicle (EV) battery maker Contemporary Amperex Technology Co Ltd (CATL) plans to build a battery material recycling facility in the central Chinese province of Hubei with an investment of up to USD4.96 billion, Reuters reported on 12 October. Citing CATL’s regulatory filing on...
    14-Oct-2021 News Investments
    BorgWarner to invest USD116 million in a new EV components plant in Portugal
    Michigan-based global supplier of powertrain technologies BorgWarner broke ground for a new plant in Viana do Castelo, Portugal, where it plans to manufacture EV powertrain parts such as electric motors, inverters and battery management systems (BMS) for a wide range of global automakers in Europe, ...
    14-Oct-2021 News Investments
    Startup SigmaSense raises USD24 million Series B funding
    According to a press release published on the 11 October by electronics weekly, SigmaSense LLC, an Austin, Texas-based global leader in touch sensing performance, has closed a USD24 million Series B funding round. The funds will be used to expand the company's presence in the touch and Human Mach...
    12-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
    Startup Sheeva.AI inks deals to expand its connected vehicle technology, open API platform
    Sheeva.AI has closed an investment round led by Hagiwara Electronics and the Aggarwal Family of the Sterling Group, it said in a press release on 5 October. The investment will help increase the adoption of its connected vehicle technology and Open API platform for automation of location-based servi...
    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
    Autonomous driving startup Wayve raises USD 13.6 million from Ocado
    According to a press release on Reuters dated 6 October, British online grocer Ocado is investing GBP10 million (USD13.6 million) in autonomous driving technology startup Wayve and a partnership to develop autonomous grocery deliveries that can handle tough traffic on busy city streets. ...
    08-Oct-2021 News Investments
    Chipmaker Infineon plans 50% investment boost
    According to a Reuters press release dated 6 October, German chipmaker Infineon Technologies plans a 50% increase in investments next year, boosting its shares as it looks to benefit from soaring demand and a global semiconductor shortage. Infineon stated that it will invest approximately EU...
    08-Oct-2021 News Investments
    ZF invests in Oxbotica to deploy autonomous passenger shuttles in major cities
    According to Reuters, ZF Friedrichshafen AG, a German automotive supplier, will invest in Oxbotica, a British autonomous vehicle software startup, to collaborate on developing driving systems for pod-like shuttles capable of transporting people and goods. ZF is acquiring a 5% stake in Oxford-based O...
    08-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
    KPIT to boost investments toward software-defined vehicle solutions with a specific focus on middleware
    KPIT Technologies Ltd, an independent software development and integration partner to the automotive and mobility industries, said in a press release on 4 October that it will make significant investments with a specific focus on 'middleware solutions'—a type of vehicle operating system. According...
    05-Oct-2021 News Investments
    Koch Strategic Platforms invests USD100 million in Canadian battery recycler Li-Cycle
    Koch Strategic Platforms (KSP) is investing USD100 million in Toronto-based lithium-ion (Li-ion) battery recycler, Li-Cycle to help meet the rapidly growing global demand to source and recycle critical and scarce battery-grade materials, the company said in a press release on 29 September. Accord...
    04-Oct-2021 News Investments
    Nissan Technical Center North America expands with USD40 million Safety Advancement Lab
    Nissan has expanded its Michigan-based engineering centre, Nissan Technical Center North America (NTCNA), with a more than USD40 million Safety Advancement Lab for vehicle safety testing, according to a press release on Business Wire dated 29 September. The new lab improves vehicle development ...
    01-Oct-2021 News Investments
    Xiaomi invests in Chinese self-driving chip startup Black Sesame
    According to an AsiaTechDaily press release dated 23 September, Black Sesame Technologies, a Chinese company that develops processors for self-driving systems based on artificial intelligence (AI), announced that its valuation had approached USD2 billion after attracting "hundreds of millions of dol...
    28-Sep-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
    Bharat Petroleum Corporation plans to set up 1,000 EV charging stations across India
    Indian government-backed oil and gas company, Bharat Petroleum Corporation Ltd (BPCL) plans to add 1,000 electric vehicle (EV) charging stations in the ‘short-term’ to tap new business opportunities and as a ‘hedge against displacement of auto fuels’, BPCL chairman Arun Kumar Singh told news...
    28-Sep-2021 News Investments
    R&D company AVL opens new Battery Innovation Center in Graz, Austria
    Expanding its portfolio of offerings to the automotive industry, research and development company AVL has opened a new Battery Innovation Center (BIC), which will support all of its expertise in innovative battery concepts globally, it said in a press release on 23 September. Spread across 1,600 ...
    27-Sep-2021 News Investments
    Blackstone Resources’ subsidiary commissions battery cell research laboratory in Germany
    Blackstone Resources AG announced on 23 September that its wholly owned subsidiary, Blackstone Technology GmbH is commissioning a state-of-the-art development laboratory for battery cell research at its new production site in Döbeln (Saxony, Germany). According to the company, since the new rese...
    27-Sep-2021 News Investments
    Huawei invests over USD1 billion in automobile investment
    According to a press release on Huawei Central dated 17 September, Huawei Smart Car Solution BG Chief Wang Jun gave a keynote speech at the 2021 World New Energy Vehicle Conference. He discusses the company's current position in the automotive industry as well as its long-term strategy. Furt...
    27-Sep-2021 News Investments
    BMWi to fund LSP GmbH's innovative braking systems project
    German electromechanical systems specialist LSP GmbH announced via its website in August that the German Federal Ministry for Economic Affairs and Energy (BMWi) had agreed to fund its IBS braking systems project with a six-figure sum over a 21-month duration. According to the announcement, the IB...
    27-Sep-2021 News Investments
    General Motors to invest USD300 million in Chinese self-driving start-up Momenta
    General Motors announced a USD300 million investment in Momenta on 23 September to accelerate the development of next-generation self-driving technologies for future GM vehicles in China. “Customers in China are embracing electrification and advanced self-driving technology faster than anywhere...
    24-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
    EV battery startup Morrow signs agreement to begin construction of its innovation center soon
    Oslo-based electric vehicle (EV) battery startup Morrow Batteries has signed a binding agreement with the Norwegian real estate developer, J.B. Ugland, that ensures the construction and establishment of Morrow Battery Innovation Centre (BIC) in Grimstad in Southern Norway, the company said in a pres...
    20-Sep-2021 News Investments
    Schaeffler opens a new plant to make EV powertrain systems in Hungary
    German automotive and industrial component supplier Schaeffler AG has opened an all-new production plant at Szombathely location in the west of Hungary, the company said in a press release on 17 September. Schaeffler said that that the new facility is its first production plant fully dedicated to...
    20-Sep-2021 News Investments
    GlobalFoundries expands manufacturing features for automotive and others
    GlobalFoundries announced a portfolio of new features that extend its solutions roadmap and accelerate the next wave of innovation in chip design for smart mobile devices, data center, internet of things (IoT), and automotive in an official press release dated 15 September. "This past 18 months h...
    20-Sep-2021 News Investments
    Axalta Mobility breaks ground on new coatings facility in Northern China
    Liquid and powder coatings supplier Axalta broke ground for construction of a coatings facility in Jilin City, Jilin Province, North China, the company announced in a press release on 16 September. The 46,000-square-meter plant is scheduled to open in 2023 and will mainly produce basecoats, prime...
    17-Sep-2021 News Investments
    EV battery startup Italvolt moves closer to setting up 45 GWh Gigafactory in Italy
    Moving a step closer to its plan of building one of the largest gigafactories in Europe, electric vehicle (EV) battery startup Italvolt Spa has signed an agreement with Prelios Sgr, manager of Fondo Monteverdi, for the purchase of an area of 1-million-square-meters in Piedmont, the company said in a...
    14-Sep-2021 News Investments
    Toyoda Gosei invests USD40 million to boost manufacturing capacity in the US
    Japan-based supplier, Toyoda Gosei Co., Ltd., has announced that it is expanding the production capacity at TG Missouri Corporation, one of its US production subsidiaries, to further develop its production network in the key North American market. The total investment for this purpose will be approx...
    14-Sep-2021 News Investments
    General Motors invests in startup Oculii
    General Motors has made a multimillion dollar investment in startup Oculii, TechCrunch reported on 13 September. The investment could boost GM’s hands-free advanced driver assistance system known as Super Cruise. Oculii provides advanced artificial intelligence (AI) software for radar perception. ...
    14-Sep-2021 News Investments
    Li-Cycle to establish new Li-ion battery recycling facility in Alabama, US
    Canadian lithium-ion (Li-ion) battery resource recovery and recycler, Li-Cycle Holdings, has announced that it will be setting up its fourth commercial Li-ion battery recycling facility. According to a press release issued by Li-Cycle on 8 September, the new plant will be located in Tuscaloosa, Alab...
    13-Sep-2021 News Investments
    Intel to spend USD90 billion on chip plants in Europe over next 10 years
    According to press release on TechRadar dated 7 September, Intel has revealed plans to build new chip-making facilities in Europe with an USD95 billion funding plan over the next decade to boost the region's chip capacity. The commitment, announced by company CEO Pat...
    13-Sep-2021 News Investments
    Startup ryd gets USD11.9 million investment from bp Ventures
    bp Ventures has announced that it will invest EUR10 million (USD11.9 million) in ryd, according to a company press release on 7 September.  The investment will help the startup venture into new international markets and enhance its offerings. “In-car digital payments are an integral part o...
    10-Sep-2021 News Investments
    Geely Auto invests in leading automotive intelligence technology solutions provider ECARX
    Geely Automobile Holdings Limited announced on 7 September that it has signed a strategic investment agreement with ECARX Technology to acquire approximately 1.51% of the company in exchange for a USD50 million investment. The investment is Geely Auto's most recent foray into the field of automotive...
    10-Sep-2021 News Investments
    EV battery startup Solid Power expands production capacity with a new plant
    Expanding its production capacity, the Colorado-based solid-state battery startup Solid Power, Inc. is setting up a second plant in the Denver-area in Thronton city, the company said in a press announcement on 7 September. According to Solid Power, the new facility will greatly expand its capacit...
    09-Sep-2021 News Investments
    PPG starts up automotive sealant manufacturing plant in Morocco
    US supplier of paints, coatings, and specialty materials PPG announced via a press release on 12 August the startup of a new automotive sealants manufacturing plant in Tangier, Morocco. The production facility, PPG’s first in Africa, will initially supply materials for Renault Group’s Dacia...
    09-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
    Construction work begins at startup Britishvolt’s upcoming Gigafactory site in Northumberland, UK
    EV battery startup Britishvolt has instructed the London-based construction company ISG to commence construction work at the former’s upcoming Gigafactory site in Cambois, Northumberland, UK, the company said in a press release on 6 September. Referring to the beginning of the construction work...
    07-Sep-2021 News Investments
    Startup Wallbox to establish first US-based EV charging systems manufacturing facility in Arlington, Texas
    Wallbox, a provider of electric vehicle (EV) charging solutions, has announced the selection of Arlington, Texas as the location of its first US manufacturing facility. According to a press release issued by Wallbox on 1 September, the company stated that the 130,000-square-foot plant will have...
    06-Sep-2021 News Investments
    Lucas TVS, EV battery startup 24M Technologies sign agreement to set up a Gigafactory in Chennai
    Indian automotive electrical components manufacturer Lucas TVS Ltd. has signed a license and services agreement with US-based battery startup 24M Technologies, Inc., to set up the country’s first Gigafactory using the latter’s innovative and disruptive SemiSolid lithium-ion (Li-ion) technology, ...
    03-Sep-2021 News Investments
    Shell plans to significantly expand EV charging network in the U.K.
    Oil and gas company Royal Dutch Shell plans to significantly expand its network of electric vehicle (EV) charging stations in the UK, Reuters reported on 1 September. According to the report, the energy company aims to install 50,000 on-street posts by 2025 and will implement its plans through Ub...
    01-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
    Indian auto component supplier Sona Comstar to invest USD82 million on capex
    Indian auto component manufacturer Sona BLW Precision Forgings (Sona Comstar) has earmarked a capex of around INR6 billion (USD82 million) for the ongoing financial year (FY 2021–22) as the company is upbeat about sustaining growth, ET Auto reported on 30 August. "A large share of this capex wi...
    30-Aug-2021 News Investments
    Posco commences high-purity nickel production for EV batteries
    South Korean materials supplier, Posco, has announced that it has commenced production of high-purity nickel required for secondary batteries used in electric vehicles (EVs). According to a press release issued by Posco on 19 August, the company stated that a new production facility has been set up ...
    30-Aug-2021 News Investments
    Blink Charging deploys new EV charging stations in Michigan
    Blink Charging, in partnership with Traverse City Light & Power (TCL&P), a community-owned municipal utility, has deployed 27 charging ports at 6 locations across Traverse City, Michigan, US, the company announced on 27 August. The TCL&P-owned chargers include 3 DC fast...
    30-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
    EV startup Next.e.GO Mobile raises USD57 million in Series C equity funding
    Germany-based EV manufacturing startup, Next.e.GO Mobile SE, has announced that it has closed a series C equity financing round of USD57 million. According to a press release issued by Next.e.GO Mobile on 26 August, the company stated that the new funds will enable the company to enhance the product...
    27-Aug-2021 News Investments
    Yanfeng completes construction of new seating plant in Serbia
    Global automotive interior component supplier Yanfeng has completed construction on a new manufacturing site in Kragujevac, Serbia, the company announced in a press release on 26 August. The plant will launch production by summer 2022. The company plans to create about 500 new jobs over the next few...
    26-Aug-2021 News Investments
    Goodyear Ventures invests in EV charging startup AmpUp
    American automotive tire supplier, Goodyear, has announced that its venture capital arm, Goodyear Ventures, has added AmpUp, a California-based EV charging and software solutions startup, to its investment portfolio. According to a press release issued by Goodyear on 16 August, AmpUp has operations ...
    26-Aug-2021 News Investments
    REE Automotive receives USD17 million funding from the UK Government
    REE Automotive Ltd. announced that its REEcorner™ technology was awarded USD17 million funding from the UK government as part of a USD57 million investment, coordinated through the Advanced Propulsion Centre (APC). According to a press release issued by REE Auto on 19 August, the company stated...
    26-Aug-2021 News Investments
    Siemens to bolster EV charging infrastructure manufacturing in the US
    Germany-based electrical components and systems supplier, Siemens, has announced that it will invest and expand the company’s US manufacturing operations to support electric vehicle (EV) infrastructure in the United States. According to a press release issued by Siemens on 24 August, the...
    25-Aug-2021 News Investments
    EV battery startup Ample raises USD160 million in Series C financing
    Electric vehicle (EV) battery swapping startup, Ample, has announced that it has raised USD160 million in funding during its Series C financing round. According to a post published by Ample on 19 August, the modular battery swap network operator stated that the funding round was led by Moore St...
    20-Aug-2021 News Investments
    AKASOL AG inaugurates Gigafactory 1 in Germany, invests USD117 million
    German battery maker AKASOL AG has inaugurated its Gigafactory 1 in a ceremony attended by more than 160 guests, the company said in a press release on 16 August. According to the company, the state-of-the-art facility will have a production capacity of up to 1 GWh in the first phase of its expansio...
    19-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
    Indian Oil plans to install EV charging stations across 100 outlets in Maharashtra
    State-owned oil and gas company Indian Oil Corporation Ltd (IOCL) is planning to set up electric vehicle charging points at 100 of its existing fuel disbursement outlets across Maharashtra, according to a report filed by news agency PTI on 14 August. According to the report, IOCL is open to upgra...
    17-Aug-2021 News Investments
    India-based Amara Raja Batteries plans USD1 billion capital expenditure
    Amara Raja Batteries plans to invest about USD1 billion over the next 5-7 years on new-age energy storage systems such as lithium-ion technology, Indian news agency PTI quoted S Vijayanand, President, New Energy wing of Amara Raja, as saying on 10 August. "So we are talking about a close to USD1 bil...
    13-Aug-2021 News Investments
    Plug Power breaks ground on its USD84-million green hydrogen plant in Georgia, US
    A leading provider of turnkey hydrogen solutions, Plug Power broke ground on a site in Camden County, Georgia, US, where it plans to build a green hydrogen production plant, the company said in a press release on 10 August. Plug Power aims to produce 15 tons of liquid hydrogen per day at the...
    11-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
    Gotion plans to build two lithium carbonate factories in mainland China
    Electric vehicle (EV) battery maker Gotion High-Tech Company plans to build two factories in the southern province of Jiangxi in mainland China to produce a combined 100,000 metric tons per year of lithium carbonate, according to a report filed by Reuters on 5 August. The report sa...
    06-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
    WMU receives USD2.5 million to study infrastructure for autonomous vehicles
    Engineers at Western Michigan University have received a USD2.5 million grant from the federal government to research ways that upgrading infrastructure could improve autonomous vehicles, according to an official press release dated 30 July. The funds will be directed to the WMU College of Engine...
    05-Aug-2021 News Investments
    Lidar startup AEye opens Japan office to meet growing demand for its adaptive lidar
    According to a press release published on 3 August by Business Wire, AEye, the global leader in adaptive, high-performance lidar solutions, today announced the opening of its Tokyo office to support and grow AEye's existing base of automotive, mobility, and industrial partners, suppliers, customers,...
    04-Aug-2021 News Investments
    Posco to invest USD200 million to produce nickel, a critical EV battery material
    Korean steelmaker Posco plans to invest USD200 million (KRW230 billion) in building a nickel sulfate refining facility with an annual production capacity of 20,000 tons to cater to the fast-growing secondary electric vehicle (EV) battery materials market, Korean news publication Pulse News said in a...
    KORE Power to build 12-GWh Li-ion battery plant in Arizona
    US-based battery cell technology company, KORE Power Inc plans to set up a lithium-ion (Li-ion) battery manufacturing facility in Maricopa county in Arizona, the company said in a press announcement on 29 July. According to KORE Power, the planned lithium-ion battery production plant will be a first...
    03-Aug-2021 News Investments
    EV Startup Bolt raises USD712 million in financing
    Bolt has closed a EUR600 million (USD712 million) round of funding, it said in a blog post on 2 August. Investors in this round included Sequoia, Tekne, and Ghisallo, G Squared, D1 Capital, and Naya. The latest round takes the company’s valuation to over EUR4 billion. The funds will be used to acc...
    03-Aug-2021 News Investments
    Autonomous driving startup G-PAL raises USD61.4 million
    G-PAL, a Shanghai-based autonomous driving startup, raised USD61.4 million from investors including Matrix Partners China, Baidu Ventures, Xiaomi's Yangtze River Industry Fund, and PwC, according to a press release on KrAsia dated 3 August. The funds will be used to increase the scale of production ...
    03-Aug-2021 News Investments
    Optimus Ride to receive USD4.3 million from US DoE to deploy AV fleet at Clemson University
    According to an official press release dated 29 July, Optimus Ride, a leading autonomous shuttle company, announced that it will receive up to USD4.3 million from the United States Department of Energy (DOE) to launch the first autonomous vehicle system at Clemson University, marking one of the larg...
    02-Aug-2021 News Investments
    Webasto receives over USD7 million grant to develop innovative mobility technologies
    Webasto, a global supplier of thermal management and electromobility solutions, is receiving a grant of more than EUR6 million (USD7 million) from the Free State of Bavaria, a state in Germany, to develop innovative solutions, the company said in a press announcement on 29 July. “The funding ap...
    02-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 battery startup Redwood Materials raises USD700 million in financing
    EV battery materials startup, Redwood Materials, has announced an external investment of over USD700 million. According to a press release issued by Redwood Materials on 28 July, the financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. and includes Goldman Sachs Asset Ma...
    29-Jul-2021 News Investments
    Czech government, CEZ sign agreement to build EV battery gigafactory
    The Ministry of Industry and Trade of Czechia has entered into an agreement with Czech power company, CEZ, to set up a gigafactory for electric car batteries to the country. According to a report filed by S&P Global Platts on 27 July, the Czech government is prepared to support this endeavor by ...
    28-Jul-2021 News Investments
    AI computing startup Blaize raises USD71 million in series D round
    Blaize has raised USD71 million in Series D funding round, it said in a press release on 27 July. The round was led by Franklin Templeton and Temasek with participation from DENSO and other new and existing investors. “We are pleased with the participation of new and existing premier investors ...
    28-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
    Holographic display startup VividQ raises USD15.2 million
    VividQ has raised GBP11 million (USD15.2 million) in funding, the Holographic display startup announced via an official press release on 1 July. The round is led by Innovation Platform from the University of Tokyo, along with Foresight Williams Technology, Miyako Capital, APEX Ventures, and R42 Grou...
    27-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
    UVeye raises USD60 million Series C funding to support global expansion
    According to a press release published on AITHORITY on 22 July, Israel-based UVeye, a supplier of high-speed vehicle inspection systems for the automotive industry, has received an additional USD60 million in funding to support its global expansion plans. UVeye's Series C funding round includes C...
    26-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
    Beep opens new headquarters in Lake Nona, US
    According to a press release published on PR Newswire on July 21, Beep announced the grand opening of its headquarters in Lake Nona, Florida, US. The 10,000-square-foot facility now houses the Beep Command Center, a cutting-edge, centralized command center used to actively monitor all autonomous pro...
    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...
    Automotive software startup Sonatus raises USD35 million in series A funding
    Sonatus has announced a fund raising of USD35 million in Series A round, according to its press release on 21 July. The round was led by Translink Capital, with participation from Kia, SAIC Capital, LG Electronics, Marvell, UMC Capital, and Wanxiang Group Company. Sonatus said that the funds will...
    22-Jul-2021 News Investments
    PTT unit GPSC opens a factory to produce semi-solid battery in Rayong
    Thailand-based National oil and gas conglomerate PTT Group’s subsidiary Global Power Synergy Plc (GPSC) has opened a battery production unit in Rayong, which also is the first semi-solid battery production facility in Southeast Asia, news publication Bangkok Post reported on 20 July. It said th...
    21-Jul-2021 News Investments
    Startup EasyCharger raises USD29.5 million in funding
    Spain-based EV charging solutions startup, EasyCharger, has announced that it has closed a funding round of EUR25 million (approximately USD29.5 million). According to a press release issued by EasyCharger on 20 July, the company stated that these new funds will be used to deploy 1,000 chargers befo...
    21-Jul-2021 News Investments
    Brembo to establish center of excellence in California’s Silicon Valley
    Italy-based manufacturer of brake components and systems, Brembo, has announced the opening of its first center of excellence in the Silicon Valley region of California, US. According to a press release issued by Brembo on 19 July, the company stated that the Brembo Inspiration Lab will be an innova...
    21-Jul-2021 News Investments
    Bosch plans to invest USD172 million at its Hungary facilities
    Bosch Automotive Steering plans to invest a total of USD172 million (HUF52.5 billion) to expand its research and development and manufacturing facilities in Maklár, northern Hungary, a local news publication Hungary Today reported on 16 July. According to the report, the Hungary government is su...
    20-Jul-2021 News Investments
    FREYR Battery to build Customer Qualification Plant and cell production line in Norway
    Norwegian developer of next-generation clean battery cells, FREYR Battery, has announced that its Board of Directors has reached a final investment decision to proceed with the construction of the Customer Qualification Plant (CQP) and first battery cell production line in Mo i Rana, Norway. The pla...
    20-Jul-2021 News Investments
    Fleet solutions startup Netradyne raises USD150 million from Softbank Vision Fund
    Netradyne, an artificial intelligence (AI) startup focused on driver and fleet safety, has raised USD150 million in series C funding led by SoftBank Vision Fund 2, with participation from existing investors Point72 Ventures and M12, the company said in a press release on 15 July. This financing, ...
    19-Jul-2021 News Investments
    Prime Minister Boris Johnson inaugurates UK Battery Industrialisation Centre in Coventry
    Prime Minister Boris Johnson formally opened the 18,500 square metre UK Battery Industrialisation Centre (UKBIC) on 15 July during a visit to the UK City of Culture, Coventry, according to a press release. The GBP130-million (about USD179 million) national battery manufacturing development facility ...
    19-Jul-2021 News Investments
    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
    India-based G G Engineering launches EV charging station
    G G Engineering Ltd. has announced that it has launched a new line of electric vehicle (EV) charging stations. According to a report filed by ET Auto on 8 July, the company’s new charging station ranges in power output from 3 kW to 22 kW. The production and distribution of these new charging st...
    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
    LG Chem to invest around USD8.7 billion in eco-friendly materials, battery materials by 2025
    LG Chem has said that it will invest KRW10 trillion (USD8.71 billion) by 2025 on new avenues including eco-friendly materials and battery materials for electric vehicles (EVs), according to a 14 July press release. The company plans to invest KRW6 trillion to enhance its product portfolio of anod...
    15-Jul-2021 News Investments
    Volvo Cars’ autonomous driving unit Zenseact receives investment from mainland China’s ECARX
    According to an official press release issued on 14 July, Volvo Cars' autonomous driving (AD) software development subsidiary Zenseact has received a strategic investment from ECARX, a privately held mainland Chinese provider of cutting-edge connected car technology founded in 2016 by Eric Li, chair...
    15-Jul-2021 News Investments
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