Southfield-based EV Project to Receive $60M Federal Grant
A Southfield-based electric vehicle project is receiving a $60 million grant from the U.S. Department of Energy. The project — by the U.S. Advanced Battery Consortium — will use the funds primarily for research and development of electric vehicle batteries,…
MOBILITY STARTUP OTO RAISES $10M FROM GMO VENTURE PARTNERS
Mobility startup OTO Capital has raised $10 million in a funding round led by Japanese VC firm, GMO Venture Partners, as well as other investors including Turbostart and Indian cricketer KL Rahul. A few family offices and existing investors of…
EV Startup River Bags $40 Mn in Series B Led by Yamaha
Electric vehicle manufacturer River has raised $40 million in a Series B funding round led by Yamaha. The round also saw participation from existing investors Al Futtaim Group, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility. With this funding, the company…
Germany Set for 14% Drop in Electric-vehicle Sales as Carmakers Scale Back Ambitions And Demand ‘does not look good’
Standing at the front of the room at an auto industry association’s new year reception in Berlin this week, BMW CEO Oliver Zipse had reason to feel vindicated. Onstage, Transport Minister Volker Wissing was preaching to the crowd of policymakers…
Eicher E-trucks to Provide Sustainable Logistics at ITC Locations
Eicher Trucks and Buses, a division of VE Commercial Vehicles (VECV) Limited, has joined hands with ITC Limited to promote sustainable and environment-friendly mid-mile logistics solutions across various ITC locations in India. As part of this collaboration, ITC, through its…
Evergrande EV Unit Suspends Talks with Dubai’s NWTN on Redrafting Deal
China Evergrande New Energy Vehicle (0708.HK), opens new tab (NEV) said on Friday it has suspended negotiations on amendments to the terms of a HK$3.89-billion ($497.42 million) share subscription agreement with Dubai-based mobility firm NWTN (NWTN.O), opens new tab. In…
EV Leasing Firm Electrifi Secures ₹250 Million Funding from ADB
Commercial electric vehicle (EV) leasing and asset management company Electrifi Mobility secured ₹250 million (~$3.02 million) in seed-stage funding led by Asian Development Bank (ADB) Ventures, AdvantEdge Founders and others. The funding will help Electrifi scale up asset deployment, expand…
Government Announces an Ambitious Plan to Bolster the EV ecosystem
In a transformative move towards sustainable transportation, Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman announced an ambitious plan to bolster the electric vehicle (EV) ecosystem while presenting the Interim Budget 2024-25 in Parliament today. This strategic initiative…
Attron Automotive to Revolutionize the EV Industry with Their Cutting-Edge Motors
Attron Automotive, a dynamic startup poised to revolutionize the electric vehicle (EV) industry, today announced the launch of its cutting-edge electric motors and controllers at the Bharat Mobility Expo 2024. The unveiling was done by Shri Arvind Kumar, Director General,…
Kaixin Auto Holdings Announces Partnership with DeepBlue AI Technology to Develop AI EVs
Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN), a leading new energy vehicle manufacturer and sales platform in China, today announced that it has reached strategic cooperation intention with DeepBlue Artificial Intelligence Technology Company (“DeepBlue AI Technology”). Both have…
