Author: Shaun Williams

BYD Chairman and President Wang Chuanfu has doubled the proposed amount for the company’s share buyback on China’s A-share market, following an initial offer late last year that failed to halt a decline in the stock price. A new letter from Wang, received by BYD (SHE: 002594) on February 22, proposes increasing the share buyback to RMB 400 million ($55.6 million) from the previously announced RMB 200 million. The purpose is to reduce registered capital, according to the company’s exchange announcement. See also: BYD Unveils Updated Dolphin Electric Hatchback with Lower Starting Price Wang’s initial proposal on December 6, 2023, suggested…

Seattle is set to make transportation history as the first city in the United States to deploy double-decker electric buses equipped with inductive wireless charging technology. Sound Transit, Seattle’s public transit agency, has placed an order for 33 Alexander Dennis Enviro500EV double-decker electric buses and 15 60-foot articulated electric buses. These buses will be powered by 13 300 kW in-ground inductive chargers manufactured by InductEV, a wireless EV charging company based in King of Prussia, Pennsylvania. See also: Lothian Commits £24 Million Investment in 50 New Volvo Electric Double Decker Buses for Edinburgh Scheduled for delivery in 2026, the double-decker buses…

Aptera Motors, a pioneering electric vehicle manufacturer, has secured over $33 million in funding to propel the production of its innovative solar electric vehicle (EV). The company’s latest funding milestone comes as it prepares to launch its “first-of-its-kind solar electric vehicle,” designed to revolutionize sustainable transportation. The funding boost follows Aptera’s unveiling of the ‘Launch Edition’ of its three-wheeled solar electric car in January 2023. Despite the initial excitement, the company recognized the need for additional capital to commence production. In response, Aptera initiated a crowdfunding campaign, raising more than $2 million in just “the last few days.” Investors contributing…

BYD, a prominent Chinese automaker, announced its plans to launch a series of “high-end luxury” models starting this year, according to a filing with the Hong Kong stock market. The company, headquartered in Shenzhen, also stated its intention to develop a “reasonable and feasible” strategy for purchasing additional shares. In a filing made last Sunday, BYD revealed that Chairman Wang Chuanfu had proposed a buyback of 200 million yuan ($27.8 million) worth of its A-shares in December of the previous year. Following the Lunar New Year holidays, trading in BYD’s Shenzhen-listed shares resumed, closing up by 1.3% on Monday. However,…

Lacroix, the electronics specialist, has commenced manufacturing bidirectional chargers for the Renault Group, with the Mobilize PowerBox now in production at the company’s Beaupréau-en-Mauges plant southwest of Paris. “The Mobilize PowerBox is manufactured in four different versions: three function in the classic unidirectional way and one in a bidirectional way,” stated a spokesperson from Renault. “Renault wants to introduce bidirectional charging on the vehicle side with its announced electric 5 Series.” Initial production capacity for the Mobilize PowerBox stands at 65,000 units per year, with plans to introduce the charging station for all of the Renault Group’s electric vehicles, according…

DHL Freight has commenced a one-year pilot program utilizing a hydrogen truck developed by commercial vehicle manufacturer Paul Nutzfahrzeuge GmbH. The vehicle, known as the Paul Hydrogen Power-Truck and based on the Mercedes-Benz Atego, will undertake distribution and line haul operations at the Cologne location, marking DHL Group’s second deployment of a hydrogen truck in Germany. The company, along with its divisions, is actively exploring various sustainable drive solutions as part of its sustainability strategy, with an interim target of reducing emissions to less than 29 million tons by 2030. See also: DHL Express and Volkswagen Commercial Vehicles Collaborate on…

Electric bikes are gaining traction as the preferred mode of urban transportation, with the Husqvarna Grand Pather 6 emerging as the latest contender in this burgeoning market. Designed to cater to both city commuting and occasional off-road excursions, this bike stands out for its unique combination of urban practicality and mountain biking capabilities. In Europe, where e-bikes are increasingly popular, the Grand Pather 6 finds its niche seamlessly. Powered by a robust Yamaha motor delivering 85 Nm of torque, the bike boasts performance comparable to leading motors from Bosch and Shimano, ensuring reliability for both city streets and trails. See…

Tensions between the United States and China escalate as the Biden administration raises alarms over the potential national security risks posed by Chinese electric vehicles (EVs), citing concerns regarding data collection. US Commerce Secretary Gina Raimondo cautioned about the extensive data collected by electric and autonomous vehicles, emphasizing worries about the transmission of such data to Beijing. Raimondo’s remarks come amid preparations for a separate executive order aimed at safeguarding “highly sensitive” personal data from foreign adversaries. See also: Industry Coalition Urges U.S. Support for Autonomous Vehicles, Citing Competition from China The US has implemented additional tariffs on Chinese EVs…

Dutch transport operator HTM Personenvervoer NV is collaborating with Daimler Buses Solutions to equip its bus depot in The Hague with 41 charging stations, marking a significant step in the electrification of public transportation infrastructure. Under the agreement, Daimler Buses Solutions will oversee the implementation of the entire “e-system” for HTM’s bus depot, encompassing the installation of 41 charging stations with a total of 122 charging points, as well as providing charging management software and operational support. Construction has commenced, with plans to commission the charging system by the third quarter of this year. See also: Milence, Joint Venture of…

Shenzhen-based innovator in laser display technology, Appotronics, is positioning itself as a significant player in the electric vehicle (EV) sector through strategic partnerships with BYD, BMW, and Huawei Technologies. As a listed company on China’s Nasdaq-style Star Market, Appotronics is gearing up to expand its production capabilities to meet the growing demand for intelligent EVs. By the end of 2024, Appotronics is slated to open a state-of-the-art facility dedicated to automotive optics, a move expected to substantially boost the company’s revenue. With ambitions to have its car-related business represent half of its total revenue within the next two to three…

In a recent earnings call, Ford CEO Jim Farley disclosed that the automotive giant has been diligently working on a new, adaptable electric vehicle (EV) platform over the past two years. The platform, spearheaded by a specialized EV team operating independently within Ford, aims to streamline costs while enhancing the company’s competitiveness in the EV market. During the discussion of Ford’s Q4 2023 earnings, Farley emphasized the significant transformations observed within the EV sector in the latter part of 2023. These shifts, he noted, were fueled by a combination of EV manufacturers slashing prices by 20% and substantial investments in…

Honda, in response to the evolving automotive landscape leaning towards electric vehicles (EVs), is gearing up to bolster its competitive stance by introducing more affordable EVs, according to CEO Toshihiro Mibe. The Japanese automaker is set to diversify its lineup with an electric successor to the immensely popular Civic model. Revealed at the recent CES event, Honda introduced two new EV concepts under its “0 series” electric brand. Emphasizing a return to fundamentals, the company aimed for a “design for the new era,” presenting a distinctive and streamlined aesthetic for its EV series. See also: Honda Offers Sneak Peek of…

Chinese manufacturer Ehang has officially announced the launch of its autonomous electric two-seater passenger drone, EH216-S, set to be available for purchase from April 1, 2024, at a recommended retail price of 2.39 million yuan (approximately 300,000 euros). The EH216-S represents a significant leap in the realm of autonomous aerial vehicles, offering a competitive price point and full autonomy. This move aligns with China’s proactive approach towards the “low-altitude economy,” focusing on the economic potential within the airspace below 1,000 meters, extendable up to 4,000 meters based on landscape characteristics and needs. With the EH216-S capable of carrying passengers without…

A consortium comprising German and Czech partners has initiated the Hydrocycle project, aiming to develop a hydrogen fuel cell-powered motorbike. The project envisions creating a demonstrator by the end of 2025 that complies with European approval standards and certification regulations, serving as an inspirational model for future mobility solutions. The Hydrocycle project emphasizes the potential applicability of hydrogen-powered motorbikes for inner-city delivery services and parcel delivery companies, presenting an alternative to conventional electric motorcycles. The partnership involves WätaS Wärmetauscher Sachsen GmbH, based in Saxony, responsible for developing a new generation of fuel cell stacks to form the foundation of the…

The Volvo Group has successfully concluded the acquisition of the battery business from Proterra Inc. and Proterra Operating Company Inc. The transaction, valued at $210 million before adjustments for inventory levels at closing, encompasses a development center for battery modules and packs in California, along with an assembly factory in South Carolina. Volvo’s acquisition aims to operate Proterra as an ongoing entity, delivering products to selected customers, with no substantial impact anticipated on the Volvo Group’s financial performance. Notably, Proterra Inc. had filed for US bankruptcy protection in August 2023. See also: Volvo Trucks Introduces Electric Low-Entry Truck for Urban…

Archer Aviation, a player in the eVTOL (electric vertical takeoff and landing) sector, has successfully concluded the initial phase of flight testing for its Midnight EAV (electric aerial vehicles) and is now entering the speed testing phase, aiming to achieve full wing-borne transition capabilities. According to Archer’s founder and CEO, Adam Goldstein, “Midnight is progressing efficiently through our flight test program. Our team’s focus on safety and relentless execution has gotten us to where we are today and is what will allow us to achieve what no other company in the world has done to date–bring electric air taxis to…

Daimler Truck North America LLC’s (DTNA) Mexican division has successfully delivered the initial two battery electric Freightliner eCascadias, manufactured in Portland, Oregon, to Transportes Esteban, a prominent player in the cargo transportation sector with 22 years of industry expertise. The electric Class 8 truck is slated for regular operations within Daimler Truck Mexico’s truck manufacturing plant (TMP) in Santiago. Simultaneously, the Santiago truck manufacturing plant has been designated as the site for Mexico’s second commercial vehicle charging facility, specifically tailored for heavy-duty truck electric charging. Drawing insights from the pioneering “Electric Island” at DTNA headquarters in Portland, DTNA’s Mexican branch…

German automaker Volkswagen has announced plans to invest an additional 9 billion reais ($1.83 billion) in its Brazilian operations over the next five years. This substantial investment aims to boost the company’s presence in the Brazilian market and expand its product lineup. The new investment exceeds the initial 2022-2028 Brazil investment plan of 7 billion reais, bringing the total to 16 billion reais. As part of this increased investment, Volkswagen intends to introduce 16 new models in the Brazilian market. This expanded lineup includes hybrid and electric vehicles, marking a strategic move towards sustainable and eco-friendly mobility solutions. Among the…

Tesla CEO Elon Musk has announced intentions to initiate a shareholder vote to relocate the company’s state of incorporation from Delaware to Texas. This decision comes in the aftermath of a Delaware judge’s nullification of Musk’s $55 billion compensation package, deeming it an “unfathomable sum” and unfair to Tesla shareholders. The judge highlighted deficiencies in the approval process, particularly scrutinizing Musk’s close ties with board members. While the judge’s ruling doesn’t eliminate the possibility of Musk receiving the $55 billion, it necessitates a new shareholder vote on a compensation package that addresses the noted issues. Shortly after the court decision,…

South Korean automaker Kia is making strides in the US electric vehicle (EV) market, with its recently launched three-row electric SUV, the EV9, surpassing expectations. In January, Kia handed over more than 1,400 EV9 models, outperforming its own EV6 in US sales. Kia’s strong start to the year is attributed to a 57% year-on-year growth in EV sales, largely fueled by the success of the EV9, which was introduced in December. The 27% month-on-month increase, from 1,113 to 1,408 units delivered, underscores the positive market reception. Remarkably, the EV9 even outpaced Toyota’s bZ4X, the sole EV in Toyota’s lineup, in…