Siemens has acquired a minority stake in wireless charging specialist WiTricity for 25 million dollars (€23.3Mn). The companies will work together to drive the adoption of open, interoperable standards, while Siemens also becomes Witricity’s licensee.
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Pure Battery Technologies (PBT), an Australian specialist in cathode materials for use in electric car batteries, has received an investment from WIT InnoEnergy. The money will be used to finance the establishment of industrial mass production in Germany.
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Porsche has participated in another financing round of the Croatian electric car manufacturer Rimac. Porsche is investing a double-digit million euro sum in Rimac as part of the 500 million euro Series D round.
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Manz has acquired a 40 per cent stake in Customcells Tübingen GmbH. One focus of the cooperation between the engineering company and the battery cell manufacturer is the development of production capacities for lithium-ion battery cells for customers in the aviation sector.
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Swedish electric car manufacturer Polestar has become a shareholder in Israeli battery developer StoreDot. In addition to the financial investment, both companies want to explore the use of StoreDot’s fast-charging silicon-dominated batteries for future Polestar vehicles.
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Daimler Truck will take a stake of around ten per cent in the German engineering company Manz as part of a capital increase. Both companies are also planning a pilot line for the production of battery cells and battery assembly at the Daimler Truck site in Mannheim.
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The US electric car start-up Rivian has presented its business figures for the first quarter of 2022. The net loss in the first three months of the year was 1.59 billion US dollars, compared to 414 million US dollars in the same quarter of the previous year. Compared to Q4 2021, however, the loss fell.
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Porsche has participated as the lead investor in the Series C financing round of Group14 Technologies. In the round, the manufacturer of silicon-carbon technology for lithium-ion batteries raised a total of 400 million dollars.
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Hyundai Motor is ending projects with Rimac Group after the Croatian automaker deepened its ties to Porsche, insiders told automotive media. It remains to be seen what will happen to Hyundai-Kia’s stake in the Rimac Group, especially since the move already affects joint projects.
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The Chinese electric car manufacturer Xpeng receives a credit line of up to 7.5 billion yuan from the Agricultural Bank of China for the further expansion of its business activities.
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The battery analytics company Twaice has secured additional Series B funding of 30 million US dollars from investor Coatue and existing investors. The Munich-based company plans to use the money to further develop its platform and open new locations.
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Electric retrofitter Pepper Motion has closed its Series A financing round of nearly EUR 30 million with Lennertz & Co. as lead investor and Würth as a strategic investor.
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Renault is rumoured to be considering a partial sale of its roughly 43 per cent stake in Nissan as part of the possible spin-off and IPO of its electric car business. What impact this would have on the alliance and the joint electric platforms is an open question.
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Croatia’s EV powerhouse Rimac has received another 120 million euros from Investindustrial. The Italian investment fund first took a stake in Rimac in 2021. The renewed investment could be about more than “just” profit since Investindustrial also holds a stake in British sports carmaker Morgan.
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US electric aerial vehicle developer Beta Technologies has raised US$375 million from investors in its latest Series B funding round. Beta intends to use the funds to further develop its electric aerial system.
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Glasgow-based electric 4X4 manufacturer Munro Vehicles has received £750,000 in seed investment from Elbow Beach Capital, a private investment company focused on sustainable energy, transition technology and social impact businesses.
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The Swedish electric boat manufacturer X Shore has raised 50 million US dollars in its new financing round. Among the new investors is Peter Carlsson, founder and CEO of the Swedish battery manufacturer Northvolt.
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The Norwegian metal producer Elkem has announced external investors for its battery materials subsidiary Vianode, which was founded last year. Norwegian aluminium producer Hydro and investor Altor will each take a 30 per cent stake in Vianode.
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Tesla has confirmed that it is planning another stock split. According to the electric car manufacturer, it will ask its shareholders for approval for this at the next annual general meeting.
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The Israeli company Chakratec, which specialises in energy storage for ultra fast-charging stations, has successfully completed a capital raising round of ILS 96 million (approx. USD 30 million).
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The charging infrastructure provider GreenWay, which has so far been active primarily in Poland and Slovakia, has secured investments totalling 85 million euros. The money is to be used, among other things, for the further expansion of GreenWay’s charging station network.
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Soros Fund Management, the investment fund of billionaire George Soros, acquired nearly 20 million shares in electric car start-up Rivian in the fourth quarter of 2021, securities documents show.
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Jaguar Land Rover has received a £625-million-loan from twelve commercial banks, secured by the UK government with half a billion pounds, for the research, development and export of battery electric vehicles.
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Estonian ultracapacitor manufacturer Skeleton Technologies has raised a further €37.6 million from investors in its D3 funding round. The D3 round brings total investment in Skeleton to over 200 million euros.
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Swiss technology group ABB has acquired a majority stake in US company InCharge Energy. ABB had held a ten per cent stake in InCharge Energy since 2020 and is now increasing its share to 60 per cent. The acquisition is intended to strengthen ABB’s e-mobility division in the North American market.
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The Israeli battery technology company Addionics has closed a series A financing round of 27 million US dollars. The backers include automotive supplier Magna International and aluminium recycler Novelis. The startup plans to use the funds to advance its technology, among other things.
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The Indian electric vehicle manufacturer Ola Electric has closed another financing round of 200 million US dollars and is now valued at a total of 5 billion US dollars.
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Volkswagen and the US battery start-up 24M Technologies have concluded their announced strategic partnership. The German carmaker is taking a stake in 24M and will have access to 24M’s SemiSolid technology for the next generation of its lithium-ion batteries.
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Electric scooter company Voi Technology has raised another $115 million in an oversubscribed funding round. With the new funding package, the total volume for 2021 amounts to 160 million dollars.
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The US agricultural machinery manufacturer John Deere has acquired a majority stake in the Austrian eMobility specialist Kreisel Electric. Kreisel will continue to operate under its own name, but John Deere has secured access to the Austrian company’s battery and charging technology.
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