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    Analysis of software R&D growth in the automotive industry
    R&D spending by the automotive industry is growing again after a steep decline in 2020. April data from the IHS Markit global automotive R&D survey show automotive companies are increasing their R&D spending by 6.5% compared with 2020. Greater China and Chinese automotive companies are l...
    Magnesium shortage in context: A real threat or just a price spike?
    As the automotive sector struggles to sustain production in light of semiconductor shortages, new concerns emerge around the stability of the supply for magnesium, which is key to aluminum production, and is heavily sourced from Mainland China. The price of the raw material has recorded a three-fold...
    Cybersecurity startup Karamba raises USD10 million in extension to Series B round
    Karamba Security has raised USD10 million in new funding in an extension to its Series B financing round, the Israel-based startup said in a press release on 2 December. VinFast led the investment with participation from SVIC, and existing investors like YL ventures, Fontinalis Partners, Liberty Mut...
    03-Dec-2021 News Investments
    Lanxess inaugurates Chinese production line for automotive water-based compounds
    Lanxess announced a new production facility for the manufacturing of water-based compounds in Nantong, China, it said in a press release on 30 November. The new entity belongs and operates under the company’ Urethane Systems (URE) business unit. There is a global trend toward water-based and th...
    02-Dec-2021 News Investments
    PPG launches automotive OEM clearcoat production in Germany
    PPG will invest EUR3 million (USD3.39 million) to expand automotive OEM clearcoat production at its facility in Erlenbach, Germany, the company said in a press release on 1 December. The investment will help PPG expand its portfolio in the OEM clearcoat production. “This is an important in...
    02-Dec-2021 News Investments
    Koch Strategic Platforms to invest USD100 million in Standard Lithium
    Lithium extraction company Standard Lithium Ltd. announced in a press release on 24 November that Koch Strategic Platforms (KSP), which is a subsidiary of Koch Investments Group, plans to invest USD100 million in it through a direct private placement to support lithium developer’s strategic develo...
    01-Dec-2021 News Investments
    Startup actnano raises USD21.75 million in Series B round
    Actnano has closed USD21.75 million Series B funding, it said in a press release on 30 November. The round was led by BMW i Ventures with new investment from HELLA Ventures and TDK Ventures. All Series A investors, including Emerald Technology Ventures, GC Ventures America, Henkel Tech Ventures, Ire...
    01-Dec-2021 News Investments
    TDK Ventures invests in nanomaterials company actnano
    TDK Corporation has invested in the Series B financing of actnano, a nanomaterials technology company, the company announced in a press release on 30 November. The company is exploring new standards for electronics protection through water and environmental-resistant smart coating solutions that pro...
    01-Dec-2021 News Investments
    BorgWarner sets up new facility in Suzhou to enhance R&D and production capabilities
    BorgWarner’s announcement accelerates second phase of its research and development (R&D) facility in the Suzhou Industrial Park, China, it said in a press release on 24 November. The new facility will help BorgWarner expand its footprint and increase production capacity. “As part of our C...
    30-Nov-2021 News Investments
    Kurabe invests USD35 million in new plant in Aguascalientes expanding its global footprint
    Japanese manufacturer of heated seats and steering, Kurabe will invest USD35 million in the San Francisco IV Industrial Park located in Aguascalientes Mexico, it said in a press release on 29 November. The plant will be the first manufacturing setup in the area and help generate 1,500 jobs in w...
    30-Nov-2021 News Investments
    India's Tata Group plans USD300 million unit to assemble semiconductors
    According to an Economic Times press release dated 26 November, India's Tata group is in talks with three states to invest up to USD300 million in establishing a semiconductor assembly and test unit, according to two sources familiar with the matter, as part of the conglomerate's push into high-tech...
    30-Nov-2021 News Investments
    Hanon Systems inaugurates new manufacturing facility in Gyeongju, Korea
    Hanon inaugurates its latest manufacturing site located in Naengcheon-ri, Oedong-eup, Gyeongju-si, Korea, it said in a press release on 26 November. The new plant will be the company’ first fully dedicated location to supply parts to carbon neutral vehicles in Korea. Significance: The new facil...
    29-Nov-2021 News Investments
    Samsung Electronics announces new advanced semiconductor Fab Site in Taylor, Texas
    Samsung Electronics announced the construction of a new semiconductor manufacturing facility in Taylor, Texas, in an official press release dated 24 November 24th. The estimated USD 17 billion investment in the US will aid in the production of advanced logic semiconductor solutions that power next-g...
    26-Nov-2021 News Investments
    Ionity to invest USD785 million on expansion of EV charging network across Europe
    Ionity, one of the leading electric vehicle (EV) charging networks in Europe, has announced a combined investment of EUR700 million (USD785 million) from its current shareholders and new partner the BlackRock Global Renewable Power platform to drive its network expansion in Europe, the company said ...
    25-Nov-2021 News Investments
    Foxconn Interconnect Technology invests USD10 million in Autotalks for V2X rollout
    Foxconn unit Foxconn Interconnect Technology (FIT) has invested USD10 million in Autotalks, CTech reported on 23 November. The companies will work to accelerate vehicle-to-everything (V2X) penetration across automotive and micro-mobility segments, using Autotalks' automotive V2X technology and the Z...
    24-Nov-2021 News Investments
    Volvo Cars Tech Fund invests in start-up Spectralics
    Volvo has invested in optical and imaging technology start-up Spectralics, it said in a press release on 23 November. Volvo made the investment through its venture capital investment arm, Volvo Cars Tech Fund. The startup focuses on next generation in-vehicle user experience. “Spectralics is an...
    24-Nov-2021 News Investments
    German research institute ZSW scales up battery material manufacturing with new plant
    Center for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW) through the project “Powder-Up!” will set up a new pilot plant that can produce high-performance cathode materials in batches of up to 100 kg to meet present and future generations of lithium-ion (Li-ion) batteries, the compa...
    24-Nov-2021 News Investments
    Schaeffler India signs MoU to expand production for transmission components and systems
    Schaeffler India Limited signed a Memorandum of Understanding (MoU) with Guidance, the nodal agency for the Government of Tamil Nadu (GoTN) for an investment to expand its production footprint in the state of Tamil Nadu, India, the company said in a press release on 23 November. Schaeffler will inve...
    24-Nov-2021 News Investments
    Battery materials startup Mangrove Lithium closes Series A funding led by Breakthrough Energy Ventures
    Vancouver based Mangrove Lithium closed Series A with an investment of USD10 million led by Breakthrough Energy Ventures (BEV) along with participation from existing investor BDC Capital’s Cleantech Practice (BDC), the company announced in a press release on 17 November. Mangrove, CEO, Saad Dar...
    23-Nov-2021 News Investments
    BorgWarner awarded with grant to launch e-Product in Cadillac plant
    BorgWarner Thermal Systems was awarded a grant to increase its electric vehicle (EV) business and is set to establish a new high-voltage coolant heater (HVCH) at its existing manufacturing plant in Cadillac, Michigan, the company announced in a press release on 18 November. “Congratulations to ...
    22-Nov-2021 News Investments
    ZF inaugurates engineering technical center in West Midlands, UK
    ZF officially opens its new purpose-built technical and office facility at Blythe Valley Business Park Solihull, according to an official press release dated 18 November. The site showcases cutting-edge technology and infrastructure for developing advanced solutions for a future of autonomous, elect...
    22-Nov-2021 News Investments
    IONITY inaugurates new e-mobility technology test center in Germany
    IONITY has opened its new innovative technology test center in Unterschleissheim, Bavaria providing full end-to-end testing, including testing on functional technologies such as Plug and Charge, the company said in a press release on 18 November. "Every company interprets interface standards slig...
    22-Nov-2021 News Investments
    Texas Instruments to build on new 300-mm semiconductor wafer fabrication plants in US
    Texas Instruments Incorporated announced plans to begin construction on its new 300-millimeter semiconductor wafer fabrication plants (or "fabs") in Sherman, Texas (United States), according to an official press release dated 17 November. As semiconductor growth in electronics, particularly in th...
    18-Nov-2021 News Investments
    Canoo to set up new R&D, software development centers in Oklahoma, US
    Canoo has announced that it will set up a new research and development (R&D), software development, and customer support and financing centers in Oklahoma, according to a 15 November press release. The investments are expected to bring at least 700 additional jobs to the state. The R&D an...
    16-Nov-2021 News Investments
    Autoliv invests in Japan to expand global footprint
    Autoliv will invest in setting up a new facility to optimize operations, the company said in a press release on 12 November. The optimization plan is said to reflect its commitment to the Japanese market. "Autoliv Japan has been successful for over 30 years through a strong local sales, engi...
    15-Nov-2021 News Investments
    Foxconn signs definitive asset purchase agreement with EV startup Lordstown to acquire Ohio plant
    Taiwanese electronics manufacturer Hon Hai Technology Group, popularly knows as Foxconn, has signed a definitive asset purchase agreement with US-based electric vehicle (EV) startup Lordstown Motors Corp. (LMC) to acquire the latter’s Ohio-based plant, the company updated on 11 November. LMC has a...
    12-Nov-2021 News Investments
    VinFast to invest USD200 million in capital investments in California
    Vietnamese carmaker VinFast plans to make capital investments of more than USD200 million and establish its US headquarters in California as part of its expansion in the North American market, Reuters reported on 5 November, citing a company announcement. VinFast aims to debut in the United ...
    12-Nov-2021 News Investments
    Toyota invests USD6 million at American Center for Mobility
    Toyota is looking to make an additional USD6-million investment on the American Center for Mobility (ACM), the company said in a press release on 10 November. The investment will be broken down as USD3.5 million in a five-year lease for exclusive on-campus facilities, plus an additional estimated US...
    12-Nov-2021 News Investments
    Startup TriEye raises USD74 million for autonomous and driver-assistance systems
    According to an official press release dated 10 November, Israeli startup TriEye has raised USD74 million to commercialize a type of sensing technology that can help autonomous and driver-assistance systems see better in poor lighting conditions. According to CEO Avi Bakal, SWIR brings an additio...
    11-Nov-2021 News Investments
    Toyota makes USD30-million investment over five years at Collaborative Safety Research Center
    Toyota has committed an investment of USD30 million over the next five years for Collaborative Safety Research Center (CSRC), it said in a press release on 9 November. This will keep its plans on track for its next phase of automotive safety projects. “Humans are at the center of Toyota’s tec...
    10-Nov-2021 News Investments
    Knorr-Bremse invests USD25 million in Israeli start-up Autobrains
    Knorr-Bremse has invested approximately USD25 million in Israeli start-up Autobrains in exchange for a minority stake of approximately 5% in the company, according to an official press release dated 2 November. The partnership supplements Knorr-Bremse and Continental's existing collaboration on r...
    09-Nov-2021 News Investments
    Volkswagen and EIT InnoEnergy partner to pursue carbon-neutral mobility projects
    EIT InnoEnergy and Volkswagen has formed a strategic partnership to develop and plan joint innovation and investment activities designed to innovative technologies and business models to achieve economic breakthroughs to build a greener mobility space, it said in a press release on 3 November. Throu...
    08-Nov-2021 News Investments
    GM to Invest USD46 million in its metal stamping plant in Parma to make it future-ready
    General Motors (GM) will invest USD46 million in its Parma, Ohio, metal stamping operation plant, it said in a press release on 4 November. The investment is directed toward upgrading equipment and preparing the facility to provide support for future product platforms. “Our Parma oper...
    05-Nov-2021 News Investments
    BASF inaugurates new R&D facility in South Korea
    BASF opens a new Research & Development (R&D) facility at Ansan, Korea’s Engineering Plastics Innovation Center (EPIC), it said in a press release on 2 November. The R&D facility houses recent acquisition of Solvay’ polyamide business and other competencies like Consumer Electronics ...
    02-Nov-2021 News Investments
    Automated driving supplier aiMotive expands into Germany by setting up Munich office
    aiMotive opens new setup in Munich, Germany to expand and cater to European market and partners, it said in a press release on 28 October. The new facility is said to support technical aspirations of the company apart from business operations.    "Munich is an important center of the Eu...
    02-Nov-2021 News Investments
    Zouk Capital invests USD41 million in EV charging startup Zest Eco Ltd
    London-based investment firm Zouk Capital has committed an initial investment of GBP30 million (USD41 million) to launch a new public electric vehicle (EV) charging startup called Zest Eco Ltd, supported by the Charging Infrastructure Investment Fund (CIIF), it said on 11 October. “Zest intends...
    02-Nov-2021 News Investments
    Faurecia to expand operations in Tennessee, US
    Faurecia will expand its operations at its Spring Hill plant in Tennessee, according to an official release on 27 October. Faurecia is set to invest USD18 million to expand its existing facility by nearly 100,000 square feet to increase manufacturing capabilities, specifically the production of door...
    01-Nov-2021 News Investments
    Bosch to invest more than EUR400 million in its semiconductor fabs
    According to an official press release, German technology company Robert Bosch has set aside more than EUR400 million (USD467 million) for investments in microchip production in Germany and Malaysia next year in order to alleviate a global shortage. The majority of Bosch's budget will be spe...
    29-Oct-2021 News Investments
    CATL invests in battery recycling project to secure material supply
    Chinese EV battery maker Contemporary Amperex Technology Co. Ltd. or CATL’s subsidiary Guangdong Brunp Recycling Technology Co., Ltd. and its arm Ningbo Brunp Contemporary Amperex Co., Ltd. (Brunp Contemporary) have signed cooperation agreements with the Yichang municipal government, the Yichang h...
    28-Oct-2021 News Investments
    Porsche Ventures invests in China-based digital content startup iMaker
    Porsche Ventures has invested in the technology company iMaker, it said in a press release on 18 October. Porsche, through its investments into technology focused companies such as iMaker, is looking to transform and further expand its portfolio for digital products and services, thereby acceleratin...
    27-Oct-2021 News Investments
    ArcelorMittal to reduce CO2 emissions with new DRI plant and electric furnaces
    Steelmaker ArcelorMittal Belgium announced via press release on 28 September that the governments of Belgium and Flanders had agreed to support its USD1.28 billion project to build a 2.5 million-tonne direct reduced iron (DRI) plant and install two new electric furnaces at its site in Ghen...
    27-Oct-2021 News Investments
    Italy plans to engage Intel for a multibillion-euro chip plant
    According to a press release published on ET Auto on 24 October, Rome is preparing an offer to persuade Intel to invest billions of euros in an advanced chipmaking plant in Italy, as Germany emerges as the front-runner to land an even larger megafactory planned by the US company, according to three ...
    26-Oct-2021 News Investments
    Daimler opens a new USD172 million R&D Tech Center in Beijing, China
    German vehicle manufacturer Daimler AG announced on 20 October that it has opened a new research and development (R&D) Tech Center in Beijing, China with an investment of CNY1.1 billion (USD172 million). The all-new R&D Tech Center China is set up in an attempt to further strengthen its (R&a...
    25-Oct-2021 News Investments
    West Midlands Gigafactory to set up 60-GWh production unit in Coventry, UK
    West Midlands Gigafactory, a public private joint venture (JV) between Coventry City Council and Coventry Airport Ltd, plans to build an EV battery plant with an annual production capacity of 60GWh in Coventry, UK, the company said in a press release on 20 October. According to the company, it pl...
    25-Oct-2021 News Investments
    EIB grants ArcelorMittal USD326 million loan for decarbonization R&D
    Luxembourg-based steelmaker ArcelorMittal announced via press release on 27 September that the European Investment Bank (EIB) backed by the Investment Plan for Europe had agreed to provide the company a USD326 million (EUR280 million) loan to fund the group’s European research and development prog...
    25-Oct-2021 News Investments
    Stellantis and Samsung SDI to form lithium-ion battery production JV in North America
    Stellantis and Samsung SDI have signed a memorandum of understanding (MOU) to form a joint venture (JV) for production of battery cells and modules for North America, the former said in a press release on 22 October. The new plant, which is expected to start operations in 2025, will have an initial ...
    22-Oct-2021 News Investments
    HELLA doubles production capacity of Shanghai plant
    HELLA, a lighting and electronics specialist, has doubled its production capacity at its Shanghai location, according to an official press release dated 22 October. In this case, a new building was added to the nearby electronics plant, and the existing space was completely remodeled. This is now...
    22-Oct-2021 News Investments
    Pöppelmann to invest USD19.2 million in North Carolina facility
    The North Carolina Department of Commerce announced via press release on 15 October that German plastics fabricator Pöppelmann Plastics had agreed to invest more than USD19.2 million to expand its Claremont manufacturing campus to accommodate an automotive production line. According to the ...
    22-Oct-2021 News Investments
    Magna expands in Eastern Europe by setting up new seating plant in Serbia
    Magna has expanded its European footprint by setting up new seating plant in Serbia, it said in a press release on 20 October. The facility is expected to increase workforce from approximately 780 currently to 1,000 employees by end of 2022. “Making this investment reflects the growth in demand fo...
    21-Oct-2021 News Investments
    Micron to expand chip production with USD150 billion in capital spending over coming decade
    According to a Bloomberg press release dated 20 October, Micron Technology Inc., the only remaining major US maker of memory semiconductors, said it will spend USD150 billion over the next decade and wants government assistance to ensure the investment is made in the United States. The budge...
    21-Oct-2021 News Investments
    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
    DENSO invests in dellfer to help bring automotive cybersecurity software to market
    According to official press release dated 19 October, Dellfer, an automotive and internet of things (IoT) cybersecurity software company, announced that DENSO, a leading mobility supplier, and Option3, a specialist cybersecurity private equity firm, have made an USD 8M joint investment into the comp...
    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
    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
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