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WiTricity Extends Recent Funding For A Total Of $52M

Wireless power transfer leader WiTricity announced an additional $18 million to its previously announced October fund raise of $34 million for a total of $52 million. The extension included investments from Tony Fadell’s Future Shape and other private investors. Fadell…

Xos To Go Public And Expand Battery-Electric Vehicle Production

Xos Inc., a 5-year-old truck maker focused on delivering battery-electric commercial vehicles in Classes 5-8, announced a definitive agreement to go public through a business combination with NextGen Acquisition Corp., a publicly traded special purpose acquisition company based in Boca…

US Postal Service Awards 10-Year Contract To Oshkosh Defense For New Generation Of Delivery Vehicles; BEV And ICE

The US Postal Service awarded a 10-year contract to Oshkosh Defense to manufacture a new generation of US-built postal delivery vehicles that will drive the most significant modernization of the USPS fleet in three decades. Under the contract’s initial $482-million…

Lucid Motors Strikes SPAC Deal To Go Public With $24 Billion Valuation

Lucid Motors reached an agreement to become a publicly traded company through a merger with special-purpose acquisition company Churchill Capital IV Corp., in the largest deal yet between a blank-check company and an electric vehicle startup. The combined company, in…

Eaton’s Vehicle Group Launches Electric Vehicle E-Drive Gearing Design, Development, And Manufacturing

Power management company Eaton today announced its Vehicle Group is developing gearing solutions for electrified vehicles (EVs). Leveraging its expertise in producing transmissions and contract manufactured gear-sets for passenger and commercial vehicles, the Vehicle Group aims to be a leader…

EV-Battery Startup QuantumScape Soars On Technical Breakthrough

QuantumScape Corp., an electric-vehicle-battery startup, soared as much as 12% in late trading after saying it cleared a key hurdle in the development of its technology. The company, which is attempting to pioneer solid-state lithium-metal batteries for electric vehicles, said…

Ford Boosts Investment In Electric And Autonomous Vehicles To $29 Billion Through 2025

Ford Motor plans to invest $29 billion in electric and autonomous vehicles through 2025, the company announced when it reported better-than-expected fourth-quarter earnings. Wall Street was waiting to see Ford pour more money into the emerging technologies after General Motors…

Faraday Future Finds Fusion Partner For IPO

Faraday Future has found a partner for its IPO. After merging with investment company Property Solutions Acquisition, the new Faraday Future Inc. is to be traded on Nasdaq under the ticker symbol “FFIE”. The company has also signed a framework…

China And The United States Are Battling For EV Dominance

Electric vehicles were the story of the year throughout 2020, but a battle in the EV industry could bust the market wide open in 2021. While Tesla was the one grabbing headlines in the United States, with over 700% gains…

Competition Intensifies For Commercial Vehicle Battery Makers

Moving beyond electric vehicles themselves, blank-check companies are targeting battery developers critical to the growing demand for zero-emission commercial vehicles. The most attractive battery-making companies have track records and significant revenue, reducing the risk to investors. The special purpose acquisition…