Ford drops nearly all of their Rivian shares
Ford has sold off a large part of its Rivian shares. According to a notification from Rivian to the US Securities and Exchange Commission (SEC), Ford’s stake in Rivian is now only 1.15 per cent.
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Lucid opens new retail centre in the Netherlands
The US-American electric car manufacturer Lucid Motors has opened its third European retail location and its first service, delivery and distribution centre in Europe in Hilversum, the Netherlands, just outside Amsterdam.
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Zeekr seeks over $1 billion via IPO in the USA
Zeekr has confidentially filed for a US public offering to raise over $1 billion in capital, according to inside sources. Zeekr lodged its filings with US regulators last week and is planning to go public in New York as early as the second quarter of 2023.
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Einride collects half a billion in funding
Swedish electric transport specialist Einride has secured $500 million in funding, which includes both a $200 million Series C equity raise and a $300 million credit facility.
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SVOLT to hit the Chinese stock exchange
The battery cell manufacturer SVOLT, which emerged from the Chinese carmaker Great Wall, has applied for its IPO in China. The listing on the Star Market technology exchange is expected to bring SVOLT 15 billion yuan (around 2 billion euros).
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ABB e-mobility closes funding round with over €200 million
Swiss technology group ABB has raised CHF 200 million for its E-Mobility division. Shares to raise said capital are being issued as part of a pre-IPO private placement.
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Lucid doubles turnover in Q3 of 2022
The US electric car manufacturer Lucid Motors achieved a turnover of $195.5 million in the third quarter of this year. That is about twice as much as in the second quarter. There is also news about the timetable for the Gravity electric SUV.
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Volkswagen to invest €10 billion in e-mobility projects in Spain
The Volkswagen Group and Seat have given the green light to invest ten billion euros in e-mobility in Spain. The investments announced in May were previously dependent on the Spanish government’s funding under the PERTE eMobility funding programme, which was recently released.
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WeLion collects €200 million in funding
The Chinese battery manufacturer WeLion has closed a series D financing round of 1.5 billion yuan (206 million euros). WeLion intends to invest the capital in expanding its production and research and development activities.
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Musk sells almost $4 billion in Tesla stocks
Elon Musk has dumped another 19.5 million Tesla shares worth $3.95 billion. Musk now still holds around 14 per cent of Tesla. The value of Tesla shares has fallen to its lowest level in almost a year and a half.
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Foxconn increases investment in Lordstown Motors
The Taiwanese contract manufacturer Foxconn is investing a total of up to 170 million US dollars in the US electric car start-up through the purchase of ordinary shares and newly created preference shares. This brings Foxconn’s stake in Lordstown Motors to almost 20 per cent.
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Renault moves ahead with restructuring e-mobility business
Renault has presented the third phase of its strategic plan “Renaulution”. In it, the car company not only specifies the electric roadmap for its brands, but also its plans for the future independent electric car division.
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Verkor secures €250 million in financing
French battery specialist and Renault partner Verkor has secured more than €250 million in financing. The fresh capital, which comes from the European Investment Bank among others, will flow into the company’s technology and innovation centre in Grenoble called Verkor Innovation Center (VIC).
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The Mobility House closes €50 million funding round
The Mobility House has secured an investment amount of around 50 million euros for its technology development and expansion in Europe, North America and Asia. The now-completed internal financing round is supported by all existing investors.
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Zeekr presents electric van 009 with Qilin battery
Geely’s premium electric subsidiary Zeekr has unveiled its second model and is now accepting reservations for the Zeekr 009 in China. Separately, Geely plans to spin off Zeekr and list it on the Hong Kong Stock Exchange.
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Fastned raises €75 million strategic investment
Fastned has received a strategic investment of €75 million in a private placement from Schroders Capital to expand its European fast-charging network further.
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Zunder gets fresh capital to advance ultra-rapid charging in Iberia
Zunder, a charging infrastructure company from Spain, announces a €100 million capital injection from French sustainability investor Mirova. Zunder aims to own and operate over 4,000 ultra-fast charging points in Southern Europe by 2025. The money is the first charge to accelerate development.
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Geely joins Aston Martin
Chinese company Geely has taken a stake in Aston Martin. Their investment is part of a £654 million capital raise for the British premium car brand. According to a terse statement from Aston Martin, Geely joins existing investors such as Mercedes-Benz in the Public Investment Fund.
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LiveWire hits the New York stock exchange
Harley-Davidson has completed the announced IPO of its electric motorbike brand LiveWire via a SPAC merger with the exchange shell AEA-Bridges Impact Corporation (ABIC). In addition, the second series model Del Mar can be reserved again.
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Solar EV startup Lightyear raises €81 million in funding
Lightyear has raised €81Mn in funding to secure the production of the first series model, Lightyear 0. The Dutch start-up also hopes to push ahead with developing its second solar car, the Lightyear 2. The new EV will target the mass market at a price of €30,000 once production begins in 2024 or 2025.
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WiTricity raises $63m; Siemens leading this latest round
Wireless charging specialist WiTricity says it completed a new funding round of $63 million (€60.9m). Anchored by a $25 million investment from Siemens. WiTricity wants to bring its patents into products, including launching a new V2G solution.
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Nexeon raises over $200m for silicon-anode production
British battery developer Nexeon secured over 200 million dollars to fund battery materials manufacturing. The company speaks of soon making “tens of thousands of metric tonnes” of its silicon-based anode materials and mentions supplying Tier 1 OEMs.
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Webasto seeks investor for EV charging division
German automotive supplier Webasto is looking for a partner and investor in its business with charging equipment for electric cars. Still, according to local media, Webasto does not want to sell its complete charging division.
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ZeroAvia: Investors zoom in on hydrogen-electric jets
ZeroAvia has announced another $30 million in funding at the Farnborough International Airshow with new investors Barclays Sustainable Impact Capital, NEOM, and AENU coming on board. The capital increase brings the Series B round to $68 million (€66.7Mn).
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British battery maker Nyobolt raises £50 million in funding
British fast-charging battery startup Nyobolt, a University of Cambridge spinout, has raised 50 million pounds in Series B funding led by H.C. Starck Tungsten Powders which will enable the company to begin manufacturing at scale.
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Northvolt confirms plans for IPO in next two years
The Swedish battery wunderkind Northvolt has confirmed plans to go public within the next two years. The battery cell company backed by Volkswagen or BMW was “well-positioned” for an initial public offering, Chairman Carl-Erik Lagercrantz said in an interview.
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Electrify America: Siemens now investor and “strategic technology partner”
Siemens joins Electrify America to expand the company’s ultra-rapid charging advance in North America. They have jointly invested 450 million dollars in VW’s subsidiary. Electrify America plans to use the money – Siemens is the first external investor – to advance said expansion but also expects technology advances.
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CATL looking to gain billions by floating new shares
China’s battery giant CATL is looking to collect billions on the stock market. According to Bloomberg News, the company has kicked off a private placement that could raise about 45 billion yuan ($6.7Bn; €6.4Bn). The fresh capital is to finance expansion and R&D.
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ION Storage announces $30Mn funding round
US solid-state lithium-ion battery developer ION Storage Systems has announced the initial closing of its $30m series A fund-raising round. The company welcomed investments from Toyota Ventures, Tenaska, Bangchak Corporation and others.
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Rio Tinto invests in battery developer Nano One
Canadian battery developer Nano One and mining group Rio Tinto have signed a strategic partnership to supply iron and lithium products, collaboration and a US$10 million investment in Nano One.
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