Fortum will expand its lithium-ion battery recycling capacity by building a new plant in Harjavalta, Finland. The new plant, which will cost Fortum about 24 million euros, will recycle rare metals and other materials from old EV batteries using hydrometallurgy.
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Volvo Group has invested in Israeli startup Driivz, a software specialist for charging solutions. The company developed a platform to manage large charging systems for electric vehicles, with Volvo looking into heavy-duty applications.
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Lime is investing $50 million in new e-bikes compatible with their incoming fourth scooter generation. The investment primarily aims to expand Lime’s ride-sharing fleets in Europe, with 15 cities poised to receive the e-bikes.
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In the course of its latest investment planning round for 2021 to 2025, Volkswagen intends to invest around 73 billion euros in the future-oriented topics including electrification, hybridisation and digitisation.
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FreeWire Technologies announced the successful closing of a $25 million Series B and venture debt financing round. The funding was led by existing investor BP Ventures, together with new investors ABB Technology Ventures and Energy Innovation Capital.
WeiterlesenDutch consultancy EVBoosters has released its latest funding report for 2019, with some of the trending developments reported here. Expect number-crunching covering Q4 in e-mobility funding and investment insights.
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The Dutch e-mobility consultancy EVBoosters crunched some numbers for e-mobility funding during Q3/2019. Using data from CrunchBase, a database for investments in tech start-ups primarily, the firm highlights trends and companies leading the chase for fresh capital.
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Technology group Softbank is investing the equivalent of 250 million US dollars in Ola Electric Mobility (OEM), the vehicle arm of India’s largest ride-hailing firm. This makes Ola Electric a “Unicorn”, which means that it is now valued at more than $1Bn.
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Volkswagen is investing 900 million euros in the Swedish battery manufacturer Northvolt. Part of the sum is earmarked for a planned joint venture between the two companies, another part goes directly to Northvolt.
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Volkswagen’s supervisory board has announced the automaker’s entry into battery cell production and is ready to invest one billion euros. Depending on the political circumstance, VW wants to set-up production in Germany at its Salzgitter site in Lower Saxony.
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The Chinese electric car startup Byton is about to complete a 500 million dollar financing round, which will be led by China’s state-owned car manufacturer FAW with approximately 100 million dollars.
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Tesla filed for an offering of common stock and convertible notes and indicated that it would raise to 2 billion dollars. $650 million are to come in the form of new equity and the other $1.35 billion in convertible notes. Also, Elon Musk will acquire $10 million in shares.
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The Irish Government has announced intentions to build a network of HPC chargers along Irish motorways and national roads. The government has set aside a €20 million pot to fund 50 high power charging hubs across the nation.
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FirstElement Fuel has managed to secure $24 million in funding in order to boost the expansion of their True Zero Hydrogen Network in California. The move will quadruple the company’s retail hydrogen sale capacities for individual FCEV customers.
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The Berlin-based streetlamp charging startup has confirmed our early report of Honda participating in their most recent funding round with a total pot of 20 million euros.
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Volvo is currently holding talks with Chinese and US investors to generate additional capital for its Polestar electric car brand. Meanwhile, the subsidiary has announced that the Polestar 2, the brand’s first all-electric model, will be officially presented on February 27.
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French gas company Air Liquide has purchased a “strategic investment” of 18.6% in the Canadian Hydrogenics Corporation, who develops electrolytic hydrogen production equipment and fuel cells. The $20.5 million investment also includes provisions for a cooperation on PEM electrolysis technology.
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Oracle founder Larry Ellison has acquired a $1 billion stake in Tesla, according to the U.S. Securities and Exchange Commission (SEC), making him the company’s second-largest individual shareholder. Just a few days ago, Tesla announced the appointment of Ellison as an independent director to its board of directors.
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Competing for the top of the battery value chain comes at a cost as the latest earnings of both CATL and Panasonic show. While China’s cell making powerhouse reports a plus 60% in revenue, their profit fell. Panasonic paints a similar picture and in both cases, investments are weighing heavy – for now.
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The California Air Resources Board (CARB) has approved a 483 million dollar budget for the 2018 to 2019 fiscal period. The budget will be used to fund clean vehicle rebates, zero emission public transport and logistics and other mobility pilot projects.
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Volvo has invested in FreeWire Technologies, who specialises in mobile rapid charging systems in California. Their charging stations initially use low voltage power, so operators can simply connect them to a standard power outlet.
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The crisis at Faraday Future continues after their fight with investor Evergrande Health remains unresolved. With funds running low, FF now had to lay off workers and cut the salaries of those who remain by 20 percent. This includes executives.
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It is confirmed, PIF, the sovereign wealth fund of Saudi Arabia, who Elon Musk had banked on to help him taking Tesla private, is investing in Lucid Motors. The sheiks are ready to spend over a billion dollars to launch the Air EV.
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Tesla will not be taken private, says Tesla CEO Elon Musk who had planned to privatise the company. Rather than removing it from the stock market, it will now remain listed. Powerful investors had managed to change the mind of the Tesla CEO.
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PIF, the sovereign wealth fund of Saudi Arabia, who Elon Musk had banked on to help him taking Tesla private, is thinking to invest in Lucid Motors. The electric car startup is holding talks with PIF over a $1BN investment, Reuters quotes sources close to the matter.
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Transport & Environment has analysed investments of European carmakers and found that they spend 7 times more on electric car production in China than they do at home. This is down to failed EU policies, T&E suggests.
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Porsche is taking a stake in Rimac Automobilii, Croatia’s supercar powerhouse as they buy a 10% minority share. The Germans hope for a development partnership as they are gearing up for the coming of the Mission E that will be sold as Taycan.
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Elon Musk has deepened his financial participation in Tesla. After Musk purchased 33,000 stocks in May, worth around 10 million dollars, he purchased another 72,500 stocks worth 25 million dollars on the 12 and 13 of June, according to the SEC.
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Electric car startup Byton has closed its latest round of financing. It collected half a billion dollars from investors, the latest being CATL that joins the likes of China’s FAW. Byton, led by former BMWi manager Breitfeld, is about to present their second concept EV.
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German battery maker Akasol is preparing for a stock market listing in Frankfurt likely in June. Their move is to raise money to invest in new capacity so Akasol may benefit from an expected surge in demand from EV makers.
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