Filters
Your Selections
    [clear all]
    Asset
    Published
    Vehicle Domain
    Topical Categories
    Supplier
    OEM
    Region / Country/Territory
    Power politics over ICE ban – Will OEMs get their way?
    In October 2022, EU lawmakers agreed on a new carbon dioxide (CO2) fleet regulation for passenger cars and light commercial vehicles, adopting the target of zero CO2 emissions by 2035. As CO2 emissions are measured exclusively at the tailpipe, this decision is effectively a ban on vehicles with internal combustion engines (ICEs). Although a final rubber-stamp vote by EU member states was scheduled for earlier this March, a coalition of EU countries (led by Germany) is now looking to oppose th...
    Insights
    Talking Heads: Software defined vehicles
    Software-defined vehicles (SDVs) have been everywhere these past few months, with the noise reaching a crescendo after the recent CES in Las Vegas. Trouble is, it’s not exactly new. It’s just that the auto industry loves a mega trend or a concept that helps explain everything. And to be fair, SDV does knit together a whole gamut of developments in the industry rather neatly.  Click the link above to download the whole article.
    Insights
    Toyoda Gosei to increase airbag and steering wheel production capacity in Brazil
    Toyoda Gosei is working on enhancing the production capacity at its Group company in Brazil, to cater to the increasing sales of airbags and other safety systems in South America. Toyoda Gosei will expand the GDBR plant building and install airbag and steering wheel production equipment to raise production capacity, while also seeking to improve productivity by optimizing the layout of the entire manufacturing facility, according to a press release from BusinessWire, dated March 27. Significa...
    News
    Conigital, WMG receive UK government funding for self-driving research project
    WMG at the University of Warwick (Coventry, UK) and Conigital, have been awarded a share of £81 million in joint UK government and industry support to develop a self-driving transport technology, according to a press release on March 23. The National Exhibition Centre (NEC) Birmingham, Direct Line Group, Coventry City Council, Solihull Metropolitan Borough Council, Coventry University, dRisk, IPG Automotive and West Midlands Combined Authority are also members of the partnersh...
    News
    Hesai plans to open new software R&D headquarters in Chongqing, China
    China-based lidar maker Hesai Group has signed an investment agreement with Chongqing Economic Development Zone to build a software global research and development headquarters in the southwestern Chinese city, according to a report in Chongqing Daily on March 27. According to the report, which cited Chongqing's mayor, Hu Henghua, Hesai is a world leader in lidars for autonomous driving and advanced assisted driving, and the city wants to reinforce its partnership with local automakers. ...
    News
    LG Energy to invest US$5.5 billion to build a new battery plant in Arizona
    LG Energy Solution announced an investment of approximately 7.2 trillion South Korean won (about US$5.5 billion) to build a battery manufacturing complex in Queen Creek, Arizona. It will consist of two manufacturing facilities — one for cylindrical batteries for electric vehicles (EV) and another for lithium iron phosphate (LFP) pouch-type batteries for energy storage systems (ESS). It marks the largest single investment ever for a stand-alone battery manufacturing facil...
    News
    Nokian Tyres expands Dayton factory with new 350,000 square-foot warehouse in US
    Nokian Tyres and its design-build construction firm, BC Construction Group (Brighton, MI), broke ground in early March on a 350,000 square-foot warehouse, designed by Pieper O'Brien Herr Architects, according to a press release on March 23. Nokian Tyres is continuing its long-term partnership with Faithful+Gould to provide project management services for the facility. The new storage facility will be close to the Nokian Tyres factory in Dayton, Ohio, which is presently doubling output...
    News
    BMW i Ventures invests in EV-propulsion startup DeepDrive
    BMW i Ventures announced that it has colead a Series A investment round of $16.1 million in startup DeepDrive, in a company press release on March 21. Other investors include UVC Partners, Bayern Kapital with Wachstumsfonds Bayern and Continental’s Corporate Venture Capital Unit. DeepDrive has developed a cost effective dual-rotor motor, extending the range of electric vehicles (EVs). “With its patented and unique e-motor architecture, DeepDrive could set new standards for e-mobility...
    News
    Stellantis invests €130 million in German plant to manufacture EVs
    Stellantis announced an investment of €130 million in the Eisenach Assembly Plant in Germany where it produces the Opel Grandland compact sport utility vehicle (SUV). The new investment is aimed at manufacturing a battery-electric vehicle (BEV) of the model based on the all-new STLA Medium platform, said the company in a press release dated March 22. Adding a BEV to Eisenach’s output supports Opel’s bold commitment to a fully electric product lineup by 2028 in Europe. The Opel Gran...
    News
    BYD plans to invest in chipmaking startup Kunlunxin
    According to a report published by Pandaily on March 21, BYD has invested in Kunlunxin, a chip company in China to expand into global markets and enhance its technological capabilities. Kunlunxin’s registered capital recently rose from 17.68 million Chinese yuan (about US$2.57 million) to 17.85 million Chinese yuan, with BYD now owning 0.33% of the company’s shares. Kunlunxin, founded in June 2011, was formerly known as the Smart Chip and Architecture Department of Baidu. Baidu is st...
    News
    EV-charging startup Charge Zone raises US$54 million in Series A1 funding round
    Charge Zone has raised US$54 million in equity and debt in a Series A1 funding round, Mint reported on March 20. The round was led by global impact investment manager BlueOrchard Finance, which made a debt funding of US$8 million. The startup did not disclose the names of the other investors. Additionally, the company plans to raise US$5 million-US$100 million in equity as part of Series A2 during 2023–24. The funds will help the company immediately roll out 286 charging stations,...
    News
    Covestro increases capacity to produce polycarbonate films in Thailand
    Covestro announced plans to increase its global production capacity for polycarbonate (PC) specialty films by building new extrusion lines at Map Ta Phut Industrial Park in Rayong, Thailand, according to a company press release dated March 9. The films are used in automotive displays. Covestro will invest higher double-digit million euros for increasing the production capacity with completion expected in 2025. Around 50 new jobs will be created. “We want to drive growth in the polycarbonate...
    News
    BYD starts construction of plant in Thailand with an annual capacity of 150,000 units
    Chinese electric vehicle (EV) maker BYD has started building its all-new factory to produce its range of EVs in Thailand, reported CnEVPost on March 11. The factory is located at WHA Rayong 36 Industrial Estate, Rayong, Thailand, and covers an area of nearly 960,000 square meters. The plant is expected to start production in 2024 with an annual capacity of about 150,000 vehicles. The establishment of a passenger-car production base in Thailand is one of BYD's key initiatives to acce...
    News
    Mercedes-Benz plans to invest billions in modernizing EV plants
    Mercedes-Benz plans to invest billions of dollars to modernize its plants in China, Germany and Hungary over the coming years, the magazine Automobilwoche reported, as the carmaker prepares to switch to electric vehicles (EVs) and cut emissions, according to Reuters on March 19. Mercedes-Benz said it will be ready to go electric by the end of this decade, where market conditions allow. "We are investing a three-digit million amount per plant for the run up," production manager ...
    News
    Volkswagen plans to invest in mines to emerge as a global battery supplier
    Volkswagen (VW) plans to invest in mines to bring down the cost of battery cells, meet half of its own demand, and sell to third-party customers, the carmaker's board member in charge of technology said, according to a Reuters report dated 17 March. Europe's biggest carmaker wants its battery unit PowerCo to become a global battery supplier, as well as meet half its own demand with plants mostly in Europe and North America, Thomas Schmall told Reuters in an interview. Significance: VW...
    News
    Mcity gets USD15 million grant to develop connected and autonomous solutions
    Mcity, under the University of Michigan, has been granted a USD15 million, five-year grant from the US Department of Transportation, according to a press release on 15 March. The grant renewed and expanded the Center for Connected and Automated Transportation based in Ann Arbor, Michigan, US. The grant will lead to a partnership of nine colleges and universities to focus on advancing the US transportation system with emerging safety technologies. “Our university trans...
    News
    Mitsubishi Electric to build new plant in Japan to expand semiconductor production
    Mitsubishi Electric Corporation announced that it will double a previously-announced investment plan to approximately 260 billion yen (USD2.6 billion) in the five years to March 2026 mainly for constructing a new wafer plant to increase production of Silicon Carbide (SiC) power semiconductors, according to a company press release dated 14 March. Under the plan, Mitsubishi Electric expects to respond to rapidly increasing demand for SiC-power semiconductors for electric vehicles (EVs) as ...
    News
    Aptera gets USD21 million grant from CEC for solar mobility manufacturing
    Aptera Motors is set to receive a USD21 million grant from the California Energy Commission (CEC) to accelerate manufacturing of solar electric vehicles (EVs), it said in a press release dated 13 March. Aptera uses embedded solar panel power for up to 40 miles of driving, with the additional capacity for plug-in charging and a range of up to 1,000 miles. “Working with the CEC enables us to produce grid-free, carbon-neutral solar mobility while creating new jobs for all Californians (targeti...
    News
    Neta Auto starts construction of a new plant in Thailand to manufacture EVs
    Mainland China electric vehicle (EV) maker, Neta Auto, ventured into Thailand with a new manufacturing facility that is likely to become a major manufacturing base for Neta Auto to produce and export right-hand-drive (RHD) EVs to ASEAN markets, according to PR Newswire on 12 March. The carmaker also signed a cooperation agreement with Thailand's Bangchan General Assembly Co. (BGAC), under which both sides will jointly build a modern EV-assembly base. Th...
    News
    Volkswagen to set up battery cell plant in Canada
    To bolster its presence in North America, the Volkswagen Group announced plans to set up a brand-new battery cell manufacturing unit in St. Thomas, Ontario, Canada. Notably, this is Volkswagen’s first overseas gigafactory for battery cell manufacturing, which will produce sustainable unified cells. The start of production is planned for 2027, according to a company press release dated 13 March. PowerCo is set to become a key player in the development of the battery value stre...
    News
    EV charging company Indra raises USD23.9 million
    Indra has received over GBP20 million (USD23.9 million) of fresh investment following its oversubscribed Series B funding round, it said in a press release dated 8 March. Gulf Oil International led the Series B round, increasing its equity stake in the company. The additional investment will help Indra develop its groundbreaking technology in the bidirectional electric vehicle (EV) charging space. “Indra is all about innovating our way to Net Zero; bidirectional charging technology is ...
    News
    Indian government asks automotive component industry to increase investment on R&D
    The Indian government has urged the automotive components sector to invest more on research and development (R&D), in a press release dated 6 March. Union minister of Commerce and Industry, Piyush Goyal, has asked the automotive components industry to reflect on the level of investments, time, and effort that they have been putting in to develop new technology, new designs, and new products. “It would also help us provide solutions to other countries instead of being dependent on t...
    News
    Stellantis plans to build its first plant in South Africa
    Stellantis has signed a memorandum of understanding (MOU) with the Industrial Development Corporation (IDC) and the Department of Trade, Industry, and Competition (DTIC) to develop a manufacturing facility in South Africa, a company press release dated 8 March said.   The signing ceremony took place at the office of Ebrahim Patel, minister of Trade, Industry, and Competition, and was attended by TP Nchocho, CEO of the IDC; Samir Cherfan, Stellantis Middle East and Afr...
    News
    American Battery Technology Company expands Li-ion battery recycling operations
    American Battery Technology Company (ABTC) entered into agreements for the purchase of a move-in-ready, commercial-scale battery recycling facility located in the Tahoe-Reno Industrial Center, Nevada, US, a company press release dated 8 March said. The company is a critical battery materials firm that is commercializing both its primary minerals manufacturing and secondary minerals lithium ion (Li-ion) battery recycling technologies. The demand for domestically produced and sustainably s...
    News
    Envisics secures over USD500 million in funding led by Hyundai Mobis
    Envisics, a supplier of dynamic holographic technology, announced that it received over USD50 million as part of its Series C strategic funding round, according to a press release on 9 March 2023. The round was led by Hyundai Mobis—a strategic investor from the Series B round in 2020—with additional investments from new strategic shareholders InMotion Ventures (the investment arm of Jaguar Land Rover) and Stellantis. Envisics’ holographic technology enables augmented r...
    News
    Amprius Technologies to set up GWh scale factory in Colorado, US
    Amprius Technologies has signed a letter of intent to establish a gigawatt-hour scale factory in Colorado, US, it said in a press release dated 9 March. The 775,000-square-foot facility is expected to be operational in 2025. The factory will be built in phases starting with an initial 500 megawatt-hours (MWh), with the potential of up to 5 gigawatt-hours (GWh) within the initial footprint. “The selection of Colorado for our gigawatt-scale factory marks an important milestone for Amprius. We...
    News
    Hankook Tire announces Series A investment in CARMERCE
    Hankook Tire & Technology, an affiliate of Hankook & Company Group, announced its participation as a KRW3 billion (USD2.29 million) pre-Series A investor of used car e-commerce platform 'CARMERCE', according to a press release on 2 March 2023. The investment contract was signed at Hankook & Company’s headquarters, 'Technoplex' in Pangyo, Korea, on 28 February. Established by HANDLE, a mobile vehicle distribution company, CARMERCE is Korea's first ecommerce platform for...
    News
    EV charging startup itselectric raises USD2.2 million in preseed funding round
    itselectric has announced a fundraising worth USD2.2 million in the preseed round, according to a company press release on 7 March. The round was led by Brooklyn Bridge Ventures and included participation from The Helm, XFactor, Graham & Walker, Clean Energy Venture Group, and Pericles. The startup will use the funds to focus on the deployment of pilot programs for curbside electric vehicle (EV) charging in major cities across the US in 2023. “Cities are not ready for ...
    News
    OTICS to invest USD147 million to expand manufacturing operations in Tennessee, US
    OTICS USA will invest USD147 million to expand its manufacturing operations in Morristown, Tennessee, the state government announced in a press release on 2 March. OTICS USA will create 70 new jobs with the expansion. It will also see new business growth and increased fuel pipe production due to the construction of an additional 55,000 square feet of space at OTICS USA’s facility on Morristown. “We are very proud of the fourth expansion of our Morristown facility and excite...
    News
    Infineon starts construction of new Fab in Dresden, Germany; Completion planned for 2026
    Infineon has announced that it is starting the construction of its new plant for analog/mixed signal technologies and power semiconductors, according to a press release on 16 February 2023. After extensive analysis, the Infineon Management Board and supervisory bodies gave the green light for the Dresden site. The German Federal Ministry for Economic Affairs and Climate Action (BMWK) has approved an early project launch, meaning that construction can begin before the completion of the in...
    News
    UL Solutions plans to develop battery testing laboratory in Auburn Hills, Michigan
    UL Solutions has announced that it plans to open a new battery testing laboratory in Auburn Hills, Michigan, in mid 2024, according to a press release on 1 March 2023. UL Solutions' expert battery engineers and laboratory staff will test electric vehicle (EV) and industrial battery products for compliance with safety and performance requirements for US and global markets. The new laboratory will be located in the Auburn Hills Oakland Technology Park complex, near the world's automot...
    News
    BYD Auto starts building a new battery plant in China
    According to a report by Just Auto dated 1 March, Chinese electric vehicle maker (EV) BYD Auto has started work on a new EV battery plant in Wenzhou, Zhejiang province. The company is eyeing higher growth globally in the zero-emission vehicle markets. The country’s largest EV manufacturer said it would invest CNY6.5 billion (USD941 million) in the first phase of the plant for an initial production capacity of 20-GWh of batteries, enough to power 200,000 EVs. BYD expects th...
    News
    BorgWarner completes acquisition of Surpass Sun Electric’s charging business
    US component major BorgWarner Inc. announces the completion of its acquisition of Hubei Surpass Sun Electric’s (SSE’s) Electric Vehicle Charging Solution, Smart Grid, and Smart Energy businesses. The company made the announcement through a press release on 1 March 2023. The acquisition of SSE is a strategic fit, bolstering BorgWarner’s charging expertise and footprint, capitalizing on the profound industry shift toward electrification. Announcing the acquisition in September 2022, ...
    News
    Stellantis to invest USD155 million in three Indiana plants to produce new electric drive modules
    Stellantis is set to invest a USD155 million in three Indiana plants to produce new electric drive modules (EDM), it said in a press release dated 28 February. The EDMs will be integrated into vehicles designed on the STLA Large and STLA Frame platforms. The EDM consists of the electric motor, power electronics, and transmission, which are combined into a single module to improve performance and range. The new EDMs will help each platform achieve driving range up to 800 km. “While w...
    News
    Tesla to build new plant in Mexico
    In a major announcement, electric vehicle (EV) giant Tesla is heading toward Mexico for its next overseas manufacturing footprint after establishing one in China and Germany.  According to a report by Reuters dated 28 February, the greenfield plant is expected to come in the northern part of the country. Mexican-made electric cars shipped to the United States qualify for subsidies provided by the Biden administration to boost EV adoption, according to industry officials. A tota...
    News
    Innoviz Technologies opens new office in Munich, Germany
    Innoviz Technologies, a lidar sensors and perception software, announced it has officially opened a new office in Munich, Germany, according to a press release on 27 February 2023. The new office offers proximity to key customers and partners for greater collaboration and execution, as well as for new business opportunities. The new Munich office houses sales and engineering personnel and has space for meetings and product demonstrations. As its project portfolio is anticipated to expand, Inn...
    News
    Volvo Cars plans to open new Tech Hub in Krakow, Poland
    Volvo Cars has announced its plan to open a brand-new Tech Hub in Krakow, Poland’s second-largest city, according to a press release on 27 February 2023. According to a press release it will be a key software development center and play a crucial role in our strategic ambitions to be a fully electric brand by 2030 and a leader in new technology, not least through in-house software development. The Tech hub will carry full responsibility for developing complete and key features on the compan...
    News
    Tokai Rika Minda sets up new facility in India for smart systems and seat belt segment
    Tokai Rika Minda India (TRMN), a joint venture (JV) between UNO Minda and Tokai Rika, is setting up a manufacturing facility in the western Indian state of Rajasthan, Financial Express reported on 23 February. The companies recently held a groundbreaking ceremony. The production facility will be spread across 20 acres and will be the second TRMN plant in the country. The construction of the new facility is expected to be completed by the middle of 2025 and will require a capital expenditure o...
    News
    Ecobat to open new battery recycling plant in US
    Ecobat has announced the setting up of a new recycling plant in  Casa Grande, Arizona, United States, according to a company press release on 20 February. The new plant will initially produce 10,000 estimated tons of recycled material per year, with plans to expand capacity to satisfy the increasing need to recycle lithium-ion batteries. The plant is expected to start operations in the third quarter of this year. "We are thrilled to grow our global lithium-ion battery recycling footprint...
    News
    GM to manufacture EV drives in Canada plant
    General Motors (GM) is planning to manufacture new Ultium electric drive units at its St. Catharines Propulsion Plant in Ontario, Canada, the company announced in a press release on 20 February. The new investment into the plant would be expected to support around 500 jobs at the St. Catharines facility and enable the production of more than 400,000 EV drive units a year. “This is a time of historic transformation for our industry and with this significant investment, St. Catharines will pl...
    News
    Battery startup Addionics unveils 3D electrode manufacturing pilot line
    Israel-based battery technology startup Addionics has inaugurated a new state-of-the-art pilot line for the manufacturing of its advanced ‘Smart 3D Electrodes’ for electric vehicle (EV) batteries, the company announced on 14 February 2023. The pilot production line is installed at a new site, which is spread across 1,500 square feet. The site, which will also serve as the startup’s headquarter, along with its existing footprint in the US, UK, and Germany, accommodates office space for o...
    News
    NIO to add 1,000 more battery swapping stations in China in 2023
    Mainland-Chinese electric vehicle (EV) startup NIO is planning to set up 1,000 more battery swapping stations in mainland China in 2023, CnEVPost reported on 21 February. Nearly 600 of these battery swapping stations will be located within the urban areas, and the remaining 400 stations will be located in highway service areas or near highway entrances and exits. "We have set a new goal of adding 1,000 battery swap stations in 2023, for a cumulative total of more than 2,300 stations by the en...
    News
    Webasto opens new EV charger plant in Mexico
    Germany-based Webasto has opened a new EV charger plant in Guanajuato, Mexico for manufacturing EV chargers, the company announced in a press release on 20 February. The Guanajuato plant currently runs three lines that produce charging solutions, with plans to expand to eight lines by the end of the year with an output of over 20,000 units per week. "As we continue to accelerate our e-mobility product offerings worldwide, North America presents Webasto big potential. The opening of a Charging...
    News
    Evonik invests in graphene company SuperC
    In a press release dated 20 February, Evonik announced its investment in graphene specialist company SuperC. The investment is made by the Sustainability Tech Fund launched in 2022, which has a total investment volume of EUR150 million (USD160 million). However, Evonik did not disclose the amount of the investment in SuperC. "By investing in SuperC, we are supporting cutting-edge technology with a promising future. High-performance batteries are a crucial factor in accelerating the elect...
    News
    Microchip to invest USD880 million to expand SiC and silicon capacity in Colorado
    Microchip Technology has announced plans to invest USD880 million to expand its silicon carbide (SiC) and silicon (Si) production capacity at its Colorado Springs, manufacturing facility, according to a company press release dated 17 February. The expansion will take place over the next several years. The expansion will result in the development and upgradation of the company’s 50-acre, 580,000-square-foot Colorado Springs campus for increased SiC manufacturing for use in automotive/E-Mobil...
    News
    Bentley Motors breaks ground on technical centre for BEVs
    British luxury carmaker Bentley Motors has commenced construction of an Engineering Technical Centre and Launch Quality Centre at its headquarters in Crewe, marking another milestone in the brand’s preparations for battery-powered electric vehicles (BEVs). The new Launch Quality Centre will occupy two floors, each covering 4,000 square meters, the automaker said in a press release on 16 February. The company’s in-house Metrology team will be responsible for measuring every part of a Bentl...
    News
    Ola to invest USD920 million in India to develop EVs and batteries
    Ola Electric is set to invest INR76.14 billion (USD920 million) in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), Reuters reported on 18 February, citing a statement from the state government. The Softbank-backed company will invest via its subsidiaries Ola Electric Technologies and Ola Cell Technologies. According to the article, Ola intends to use the funds to ramp up production to annually make 140,000 cars and hire 3,111 wor...
    News
    bp to invest USD1 billion by 2030 into EV charge points across US
    bp has announced plans to invest USD1 billion by 2030 into electric vehicle (EV) charge points across the United States, according to a company press release dated 15 February. Hertz and bp are also set to bring fast charging infrastructure to Hertz locations in cities including Atlanta, Austin, Boston, Chicago, Denver, Houston, Miami, New York City, Orlando, Phoenix, San Francisco, and Washington, DC. “We are excited to be working with bp to build out charging at Hertz locations across the...
    News
    Texas Instruments to build 300-mm semiconductor wafer fab in Lehi, Utah
    Texas Instruments (TI) has announced plans to build a 300-millimeter semiconductor wafer fabrication plant in Lehi, Utah, according to a company press release on 15 February. The new fab will be located next to the company’s existing 300-mm semiconductor wafer fab in Lehi, LFAB. Once completed, TI’s two Lehi fabs will operate as a single fab. “This new fab is part of our long-term, 300-mm manufacturing roadmap to build the capacity our customers will need for decades to come. Our decisi...
    News
    Magna plans to invest USD470 million to expand operations in Ontario, Canada
    Magna has announced that it is investing more than USD470 million to expand its operations across Ontario, Canada, according to a press release on 15 February 2023. The growth includes a new battery enclosures facility in Brampton to support the Ford F-150 Lightning and future OEM programs. Details of the new and expanding facilities include: Brampton: A new 490,000 square-foot leased facility to manufacture battery enclosures for electric vehicles. Operations to begin in second quarter...
    News
    EV startup Magenta Mobility raises USD40 million in Series B funding 
    Magenta Mobility has raised USD40 million in its Series B funding, Deal Street Asia reported on 10 February. The fund raising involved a mix of equity and debt. The India-based electric vehicle (EV) startup closed USD20 million in equity funding led by two global marquee investors and the remaining USD20 million in debt. Magenta’s Series A, worth around USD16 million, was backed by HPCL and investors such as JITO Angel Network, LetsVenture, and Indian-American philanthropist, Kiran Patel. ...
    News
    ADAS technology startup Ottometric secures USD4.9 million in seed funding round
    Ottometric has secured a total of USD4.9 million in its seed funding round, according to a press release on 14 February 2023. The round was led by Rally Ventures, with participation from leading mobility funds including Goodyear Ventures, Proeza Ventures, Automotive Ventures, Trucks VC, Reinforced Ventures, and Investor Collaborative. Ottometric was founded in 2019 by a group of automotive industry veterans from companies such as General Motors, Autoliv, NVIDIA, and Optimus Ride who have been...
    News
    Chinese EV startup Zeekr secures USD750 million round A financing
    Geely’s subsidiary smart electric vehicle (EV) brand Zeekr has announced the completion of round A financing of USD750 million, setting its valuation at USD13 billion, according to a report published by Pandaily on 13 February 2023. This round of financing was led by Amnon Shashua, CEO and founder of the autonomous driving technology company Mobileye, together with Chinese battery giant CATL, Yuexiu Capital, Tongshang Capital, and an undisclosed Quzhou, Zhejiang Province investmen...
    News
    Ford plans to establish USD3.5 billion LFP battery plant in Michigan, US
    Ford has announced that it is investing USD3.5 billion to build the country’s first automaker-backed LFP battery plant, offering customers a second battery technology within Ford’s EV lineup, according to a press release on 13 February 2023. This facility, named BlueOval Battery Park Michigan, will initially employ 2,500 individuals when LFP battery production begins in 2026. Ford will have the option to expand battery production at its factory in Marshall, Michigan, which will be a wholl...
    News
    Automated driving tech startup Kopernikus Automotive raises USD3.20 million
    Kopernikus Automotive GmbH, a startup specializing in automated valet parking and Level 4 autonomous driving a EUR3 million (USD3.2 million) follow-up investment from Continental and Saxony’s TGFS Technologiegruenderfonds Sachsen, according to a press release on 2 February 2023. Volkswagen's CARIAD software company granted Kopernikus Automotive a contract in 2022 to equip its new automated valet parking Type 2 testing facility in Wolfsburg, Germany. Additionally, the business was given cont...
    News
    In-car payment startup Car IQ adds an extra USD15 million in Series B round
    Car IQ has announced that it exceeded its fundraising target with a USD15 million addition to its Series B round, in a press release dated 7 February. The round was led by Forte Ventures with participation from existing investors including State Farm Ventures, TELUS Ventures, and Avanta Ventures. New strategic investors Visa, Bridgestone, Navistar, and Circle K also joined the round. Total funds raised to date is USD42 million. The new funds will be used to accelerate the expansion of the Car...
    News
    Li-ion battery startup Ionblox closes Series B funding at USD32 million
    Ionblox has announced a second close of its Series B round at an increased USD32 million, according to a company press release on 8 February. Strategic partners include Lilium and Applied Ventures who were joined by Temasek and Catalus Capital. The company will use funding to scale its technology, develop advanced high-power cells for electric aviation, and prototype fast-charge cells for electric vehicles (EVs). “Here at Ionblox, we are commercializing next-generation lithium-ion batter...
    News
    Yokohama Rubber opens indoor ice testing facility at Tire Test Center in Hokkaido, Japan
    The Yokohama Rubber has announced that it began operating a new indoor ice circle test facility at its Tire Test Center of Hokkaido (TTCH). The new facility is dedicated to testing winter tires’ turning performance on an icy surface and is Japan’s largest indoor facility for testing tire turning performance on the ice, according to a press release on 7 February 2023. Profile of TTCH’s Indoor Ice Circle Test Facility Building size: 56 meters long, 56 meters wide, 12.3 meters high (...
    News
    EV charging startup VOOL raises EUR1.7 million in seed investment
    VOOL has raised EUR1.7 million (USD1.85 million) in a seed funding round, EU Startups reported on 2 February. The round was led by Specialist VC with participation from former President of Estonia, Kersti Kaljulaid, as an angel investor. Additional backers include Elar Nellis, Taavi Kotka, Justin Jenk, Toomas Kõuhkna, as well as Opus 11 VC and Startup Wise Guys. The total amount raised by the startup is EUR4.7 million, including an EUR3 million EU grant. “Our solution uses the existing gri...
    News
    Bridgestone to invest over INR6 billion in India
    Bridgestone has earmarked an INR6 billion (USD72.7 million) investment in India to meet the increasing demand for quality passenger tires in the country, Financial Express reported on 6 February. Spread over three years, the funds will be used to upgrade technology and increase capacity at its Chakan plant in Pune. “Bridgestone India is bringing in its global technologies and manufacturing for the Indian market so as to suit the needs of aspiring Indian consumers that want more fuel-ef...
    News
    Startup Liminal raises USD17.5 million in Series A2 funding
    Liminal, a battery manufacturing intelligence company has announced a USD17.5 million Series A2 funding round. The round was led by climate tech fund ArcTern Ventures, joined by new investors Northvolt and Ecosystem Integrity Fund, and with continued support from Chrysalix Venture Capital, Good Growth Capital, University of Tokyo Edge Capital Partners, Volta Energy Technologies, Impact Science Ventures, and Helios Climate Ventures, according to a press release on 6 February 2023. ArcTern...
    News
    Autonomous mobility startup Freetech raises hundreds of millions of yuan in B+ funding round
    Mainland Chinese intelligent driving solution provider Freetech completed its Series B+ financing round worth hundreds of millions of yuan, it said in a press release on 31 January. Investors for the round include CCCC Blue Fund, Qingyan Capital, and Yunxiang Wuzhen Strategic Investment. Added with the overall, Freetech has raised nearly RMB1 billion in its entire Series B funding rounds. Significance: Freetech Intelligent System raised nearly USD100 million in a Series B funding round led by...
    News
    BMW plans to invest USD864 million for NEUE KLASSE, battery assembly in Plant San Luis Potosí, Mexico
    According to a press release on 3 February 2023, BMW has planned to invest EUR800 million in a Mexican production site for the integration of fully electric models of NEUE KLASSE and the construction of local high-voltage battery assembly. The BMW Group has ramped up on e-mobility and poised to gain even more momentum with its next vehicle generation, the NEUE KLASSE. The share of 50% of the company's worldwide sales of fully electric vehicles could be reached earlier than 2030, the company s...
    News
    EV battery startup Our Next Energy raises USD300 million in Series B round
    Our Next Energy has closed a USD300 million Series B funding round, it said in a press release on 1 February. The fund raising takes the startup’s post-money valuation at USD1.2 billion. The round was led by Fifth Wall and Franklin Templeton, with participation from Series A investors and new investors Temasek, Riverstone Holdings and Coatue. Two undisclosed strategic investors also participated in this round, including a manufacturer of electric vehicle (EV) technology solutions and a renewab...
    News
    Porsche invests in ABB E-mobility Holding
    Porsche Automobil Holding SE has invested a double-digit million-euro amount in ABB E-mobility Holding in a private placement, it said in a press release on 1 February. ABB stated that it divested 12% of its shares to a total of four minority investors for CHF325 million (USD357 million) in funds. The total volume of the private placement completed amounts to about CHF525 million. The proceeds will be used to accelerate the organic growth of the company as well as for acquisitions. “With...
    News
    Autonomous vehicle technology startup Phantom AI raises USD36.5 million in series C funding
    In a press release on 1 February 2023, Phantom AI has announced that it has secured USD36.5 million in its Series C funding round. Existing investors include KT Investment and Renaissance Asset Management with new investors InterVest, Shinhan GIB, and Samsung Ventures participating in this round. “This is a very exciting time for Phantom AI as customers are recognizing the critical role driver-assisted technology plays in making automobiles safer for everyone,” said Jay Jinhwan Jeon of In...
    News
    Gentex to open new production facility in Grand Rapids, US
    Gentex Corporation has announced that it plans to open a satellite production facility that will bring 50 new jobs to the Madison Square neighborhood of Grand Rapids, Michigan, US, according to a press release on 1 February 2023. As it continues to adopt effective solutions to solve the current labor crisis, the firm intends to increase its employee base and give more access to well-paying employment by extending its manufacturing presence. “Rising transportation costs make commuting inc...
    News
    Startup Spartan raises USD17 million series B funding round
    Spartan, a sensor software company has announced that it closed an initial B round of USD17 million, led by 8VC, and joined by Microsoft, Prime Movers Lab, MaC VC, Gaingels, and others, according to a press release on 1 February 2023. Spartan's objective is to improve safety, reliability, and autonomy by installing their software on every manufactured car. Ago, the company's flagship product, is a software solution that improves the effectiveness of driver assistance systems by increasing res...
    News
    Toyota selects Turkey plant to produce PHEVs, batteries in Europe
    Japanese automaker Toyota’s European arm said on 30 January 2023 that the company plans to produce the second-generation Toyota C-HR at Toyota Motor Manufacturing Turkey (TMMT) in Sakarya, Turkey. In addition, TMMT will be Toyota’s first European plant to start producing plug-in hybrid vehicles (PHEVs), and the first to be equipped with a battery production line. TMMT is slated to produce the Toyota C-HR in hybrid as well as PHEV versions, which will make the model first PHEV passeng...
    News
    General Motors to invest USD918 million on V-8 engine production, EV components
    US automaker General Motors Company plans to invest USD918 million in four of its US-based manufacturing facilities, including USD854 million to prepare these facilities to produce its sixth-generation small block V-8 engine and an additional USD64 million in Rochester, New York, and Defiance, Ohio for castings and components to support electric vehicle (EV) production, the company announced on 20 January 2023. According to the company, with the fresh plant investment, GM’s cumulative manuf...
    News
    Luminar plans to establish new production plant for lidar sensors in Asia
    Luminar Technologies has commenced commercial manufacturing of its lidar sensors after five years of research and development in "stealth mode", according to a report published by Nikkei Asia on 27 January 2023. Luminar Technologies intends to develop a new facility in Asia and reduce the price of each sensor to USD100. Luminar founder and CEO Austin Russell said “This is the first commercial production car with high-performance lidar to enable proactive safety and highway autonomous c...
    News
    TÜV Rheinland plans to open laboratory center for autonomous vehicle testing in Taicang, China
    TÜV Rheinland, a testing, inspection, and certification service provider has opened a new laboratory center in Taicang, China, according to a press release on 25 January 2023. The global testing services provider has invested around EUR11 million in the first construction phase of the "Yangtze River Delta Operation Hub" with a second construction phase adding a further EUR11 million in investment. “For TÜV Rheinland, the Yangtze River Delta Operation Hub is one of the largest single inves...
    News
    Elinor Batteries to set up gigafactory in Orkland, Norway
    Elinor Batteries, a newly established battery startup backed by the green investment company Valinor, plans to set up a battery cell gigafactory in Orkland, Mid-Norway, the company said on 11 January 2023. According to the official note, the planned battery plant will be the first industrial initiative to be hosted by the green industrial site Eiktyr, which will be the largest of its kind in Norway, with an area of 6 square kilometers. Construction of the first phase of Elinor’s gigafact...
    News
    CATL plans to build new integrated intelligent chassis plant in Yichun, China
    According to a press release on 25 January 2023, Contemporary Amperex Intelligence Technology, a wholly-owned subsidiary of CATL, and the Yichun Economic and Technological Development Zone Management Committee have entered into a partnership for the CATL Integrated Intelligent Chassis (CIIC) production base project in the city of Yichun, Southeast China's Jiangxi Province. CAIT-SH is dedicated to the development, manufacture, sales, and provision of CIIC's services. In accordance with the agr...
    News
    Leoni expands automotive cable production in Cuauhtémoc, Mexico
    Leoni has announced the expansion of its automotive cables location in Cuauhtémoc, Mexico, according to a press release on 24 January 2023. Many guests attended the celebration, including the Governor of Chihuahua Maria Eugenia Campos, the Secretary of State for Economic Affairs Maria Angelica Granados, the Local Deputy Saul Mireles and the Deputy Mayor of Cuauhtémoc, Elias Humberto Perez. In 2020, Phase I of the EMOMEX (E-Mobility Mexico) project was completed. It comprised a USD27 mill...
    News
    Ganfeng Lithium Group to build two new lithium battery plants in China
    Ganfeng Lithium, one of the largest producers of lithium compounds globally, plans to build two lithium battery manufacturing facilities with an investment of CNY15 billion (USD2.2 billion) in mainland China, according to a news report published by Yicai Global on 19 January 2023. The news report, which cited the company announcement, added that the two new planned gigafactories in China will raise Ganfeng’s annual production capacity by 34 GWh. The total earmarked investments of CNY15 b...
    News
    US-based battery startup Nanotech Energy plans to set up a gigafactory in the UK
    Los Angeles based battery technology startup Nanotech Energy, Inc. plans to set up a gigafactory in the UK and the company is in the process of evaluating seven potential sites in the country for the same, it said in a media announcement on 19 January 2023. Nanotech Energy plans to invest GBP1 billion (USD1.23 billion) in building the planned gigafactory at the chosen site in the UK. The company said that site selection will be based on a combination of technical aspects and strategic alignme...
    News
    Sono Motors secures funding from EU to develop proprietary solar technology
    Sono Motors has secured EUR1.46 million (USD1.58 billion) in funding from the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the development of its proprietary solar technology, it said in a press release dated 23 January. Sono Motors has also announced that it has been granted or filed for 50 patents, 42 of which are for the proprietary solar technology. The patents partly relate to the same invention being filed in different jurisdictions. Significance: The...
    News
    BASF, Eramet team up to process nickel for EV batteries
    Germany's BASF and French mining company Eramet plan to sign a USD2.6 billion partnership deal to jointly invest in a nickel processing plant in Indonesia, according to a news report published by the news agency Reuters on 18 January 2023. The processed nickel will be used in electric vehicle (EV) batteries, the report stated. Citing BASF chief executive Martin Brudermüller, the news report said that the project investment would be worth around EUR2.4 billion (USD2.59 billion). The two ...
    News
    Chinese battery maker Eve Energy to build two new battery plants in China
    Eve Energy, leading Chinese battery maker, plans to invest CNY15.5 billion (USD2.3 billion) in building two new lithium-ion battery manufacturing facilities in China, according to a news report published by Yicai Global on 19 January 2023. Citing Eve Energy, the report stated that the battery maker’s investments are aimed at expanding its production as well as research and development (R&D) capabilities to accelerate growth in the world’s largest electric vehicle (EV) market. ...
    News
    Startup Cepton closes USD100 million investment from Koito Manufacturing
    Cepton, a high performance lidar solutions provider has announced the completion of its previously announced USD100 million investment from its long-term automotive tier-1 partner and current shareholder, Koito Manufacturing, according to a press release on 19 January 2023. The Investment, in the form of convertible preferred stock, was approved at a special meeting of Cepton stockholders, and is convertible, beginning on the first anniversary of the issue date, into shares of Cepton’s comm...
    News
    Volvo plans to invest in autonomous vehicle technology startup Waabi
    In a press release announcement on 18 January 2023, Volvo Group Venture Capital AB said that it has invested in the Canadian-founded company Waabi Innovation Inc, developing the next generation of autonomous trucking technology. The investment highlights the companies' shared commitment to redefine the way they move goods and accelerate the deployment of future transport solutions. “The company Waabi is using advanced artificial intelligence technology to test, assess skills, and ultimat...
    News
    Autonomous technology startup Ottopia raises USD14.5 million in Series A funding round
    Ottopia has raised USD14.5 million in its Series A funding round, it said in a press release dated 10 January. Investors included ComfortDelGro, AI Alliance Fund, and existing investors such as MizMaa Ventures, IN Venture and Next Gear Ventures. Ottopia intends to use the funds to accelerate the roll-out of its teleoperation software to enable autonomy in all industries. “We've always believed in the potential of Ottopia. The team's unwavering dedication and drive have consistently impresse...
    News
    Bosch to set up R&D, manufacturing plants for EV components in China
    Bosch Automotive Products (Suzhou) Co., Ltd, a wholly owned subsidiary of Bosch Group, plans to build research and development (R&D) and manufacturing facilities to design and produce core components for electric vehicles (EVs) and automated driving technologies, the company announced on 12 January 2023. The company said it has signed an investment agreement with Suzhou Industrial Park Administrative Committee, mainland China, in this regard. According to the agreement, the establish...
    News
    Autonomous driving technology startup VSORA secures USD4.2 million in financing
    VSORA, a startup offering silicon intellectual property (IP) solutions and autonomous driving/advanced driver assistance systems (AD/ADAS) compute platform chips for Level 2+ through Level 5 AD, has announced that it has closed a round of financing totaling USD4.2 million, according to a press release on 11 January 2023. Khaled Maalej, VSORA’s CEO noted, “Tyr has the ability to provide up to two PetaFlops processing power with superior implementation efficiency reaching more than 80%, com...
    News
    Chinese EV maker BYD to set up auto component manufacturing plant in Vietnam
    Chinese electric vehicle (EV) maker BYD Auto Co plans to set up an automotive component manufacturing facility in Vietnam, according to a news report published by the news agency Reuters on 13 January 2023. The news report cited three people aware of the company plans. The report said that BYD’s plan of setting up an auto parts manufacturing plant in Vietnam is part of its larger strategy to diversify from China and deepen its supply chain footprints in the emerging Southeast Asian markets ...
    News
    Lidar startup PreAct Technologies raises USD14 million in Series B round
    PreAct Technologies has announced fund raising of USD14 million in its Series B round led by I Squared Capital, according to a company press release on 5 January. Additional participation in this round included State Farm Ventures, Luminate, and Traylor Capital, among other new and existing investors. “PreAct has experienced significant growth over the past year, as more industries are discovering the power of high-quality 3D data that can be tailored to users’ needs via software and back...
    News
    Startup Oxbotica raises USD140 million in Series C round
    Oxbotica has announced that it has raised USD140 million in Series C funding round, it said in a press release dated 11 January. The investment round includes new investors like Aioi Nissay Dowa Insurance and ENEOS Innovation Partners. Current shareholders including bp ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science, and ZF have also participated in the round. To date, Oxbotica has raised about USD225 million. “This landmark investment from wo...
    News
    Lidar technology startup Lumotive raises USD13 million in new funding round
    Lumotive has announced that it has secured additional funding from new investors USAA and Uniquest in a USD13 million round of strategic funding led by Samsung Ventures, bringing the total amount raised to date to more than USD56 million. “Disruptive approaches to enabling next generation lidar capabilities are imperative for important applications such as automotive safety,” said Michael Smith, assistant VP, Corporate Development, USAA. “Lumotive's all-silicon LCM solutions make lidar ...
    News
    Baraja secures investment from Veoneer to advance lidar development
    Baraja and Veoneer partnership has been extended with an investment by Veoneer in Baraja, according to a press release on 3 January 2023. This follows the recent announcement of an advanced development agreement with a major automotive OEM. Baraja is making significant progress with ongoing validation of its next-generation Spectrum HD25 lidar product developed specifically for automotive integration. Spectrum HD25 is a step forward in vehicle lidar technology. Built on Baraja's patented Spec...
    News
    EVE Energy opens a battery R&D center in Guangdong, China
    China-based battery maker EVE Energy has recently opened a state-of-the-art battery research and development (R&D) center in Huizhou, Guangdong province, the company said on 29 December 2022. The R&D facility was built from scratch in 16 months with an investment of CNY2 billion (USD290 million). According to the company, the battery research facility is spread across an area of 145,000-square-meters and houses EVE Energy’s Power Battery Research Institute and the Battery System Res...
    News
    Autonomous driving technology startup Freetech raises around USD100 million in Series B funding
    According to a report published by Nikkei Asia on 28 December 2022, China-based autonomous driving startup Freetech Intelligent System has raised nearly USD100 million in a Series B funding round led by Chaos Investment. Hengxu Capital, a division of SAIC Motor; BAIC Capital; and TCL Industries Holdings are three other investors that took part in the most recent investment round. The funding will be used by Freetech to expand its core technology, carry out research for the creati...
    News
    CATL breaks ground on Shandong battery manufacturing plant in Yanzhou, China
    Contemporary Amperex Technology Co., Limited. (CATL), one of the leading EV battery manufacturers globally, had organized a groundbreaking ceremony for its upcoming Shandong battery production facility located in the Jining city of East China's Shandong Province on 24 December 2022. The planned battery manufacturing site, referred as CATL-SD, is spread across an area of more than 133 hectares and will house production lines for electric vehicle (EV) batteries, as well as for energy storage sy...
    News
    CATL’s German plant begins serial production of lithium-ion battery cells
    China’s largest battery maker Contemporary Amperex Technology Co., Limited.'s (CATL’s) German arm Contemporary Amperex Technology Thuringia GmbH (CATT) has commenced serial production of lithium-ion battery cells in December as scheduled, marking a major milestone in CATL's global expansion strategy, CATL said on 21 December 2022. The battery manufacturing plant in Thuringia, Germany, is CATL’s first production facility outside of China. It can be recalled that the company had rece...
    News
    Autonomous driving technology startup Helm.ai raises USD31 million in funding
    Helm.ai has announced that it has closed a USD31 million funding round in a Series C round led by Freeman Group, according to Helm.ai’s medium blog post on 19 December 2022. The round was also led by investments from venture capital firms ACVC Partners and Amplo as well as strategic investments from Honda Motor Co., Goodyear Ventures, and Sungwoo Hitech. This funding raises the total amount Helm.ai has raised to USD78 million. Helm.ai will utilize the funding for research and development, t...
    News
    Toshiba plans to build new production facility for power semiconductors in Japan
    Toshiba Electronic Devices & Storage Corporation has announced that it will construct a new back-end production facility for power semiconductors at its Himeji Operations, Semiconductor, in Hyogo Prefecture in western Japan, according to a press release on 18 December 2022. The Construction will start in June 2024, with production scheduled to start in spring 2025. The project will more than double Toshiba’s automotive power semiconductor production capacity at Himeji, against fiscal 20...
    News
    GAC Aion to invest USD1.5 billion on building battery plant in Guangzhou, China
    GAC Aion, the new energy vehicle (NEV) brand positioned under the umbrella of the state-owned automobile manufacturer Guangzhou Automobile Corporation (GAC Group) in China, plans to invest USD1.57 billion in building a battery manufacturing plant, a news report published by CnEVPost on 12 December 2022 said. The report cited a company press release. GAC Aion officially broke ground at the site of the battery plant, which will be located in Guangzhou, China— the parent company’s headq...
    News
    Ford stays on track with Construction work of BlueOval SK Battery Park
    US automaker Ford Motor Company and its South Korean battery partner SK On have broken ground at BlueOval SK Battery Park in Kentucky, US, and the construction work is on schedule at the two massive battery manufacturing facilities, which are jointly expected to have an annual production capacity of more than 80GWh, once fully operational, the carmaker said on 5 December 2022. The Ford – SK On battery JV company—BlueOval SK—is investing a total of USD 5.8 billion on developing the two s...
    News
    Siemens to build its second EV charger manufacturing facility in the US
    Siemens eMobility, a global electric vehicle (EV) technology and infrastructure provider, plans to set up its second US manufacturing plant for EV chargers in Carrollton, Texas, the company announced on 13 December 2022. The company said it will retrofit the 80,000-square-foot brownfield plant in Carrollton as part of its continued investment plan in the US. The planned production unit will allow the company to significantly ramp up its annual manufacturing capacity in the US to cater to the ...
    News
    Redwood Materials to invest USD3.5 billion to build battery materials plant in South Carolina, US
    Battery recycling company Redwood Materials plans to invest USD3.5 billion on building a battery material recycling facility near Charleston, South Carolina, US, the company announced on 14 December 2022. The factory, which will be spread across an area of more than 600 acres, is termed by Redwood as its next ‘Battery Materials Campus’ that will be located in the heart of the ‘US Battery Belt’. According to Redwood, a new electric vehicle (EV) manufacturing corridor from Michigan to G...
    News
    Mahindra & Mahindra to invest USD1.2 billion on setting up an EV plant in Pune, India
    India’s leading sport utility vehicle (SUV) manufacturer Mahindra & Mahindra Ltd. (M&M) plans to invest INR100 billion (USD1.2 billion) on setting up an electric vehicle (EV) production facility in Pune, India, the company announced on 14 December 2022. The investment plan has also been approved under the Maharashtra Government’s industrial promotion scheme for EVs, M&M said in its official statement Wednesday. The planned investments will be made through M&M’s...
    News
    Lidar startup Phlux Technology secures USD4.89 million in seed funding
    Lidar technology startup has announced that it has raised GBP4 million (USD4.89 million) in seed round funding from leading deep tech investors, according to a press release on 7 December 2022. In addition to financing from Innovate UK, the round was led by Octopus Ventures and includes Northern Gritstone, the Foresight Williams Technology Funds, and the Innovation Fund. As a spin-off of Sheffield University, it has utilized its extensive research on antimony, a semi-metal, to develop a ...
    News
    loading
    Trending News
    Latest Podcasts
    Latest Reports
    Latest Insights
    Latest Profiles
    Latest Startups
    preload preload preload preload preload preload