Author: Christopher Harrison

LG Energy Solution (LGES) has announced a major supply agreement with U.S.-based electric vehicle (EV) manufacturer Rivian to deliver 4695 cylindrical batteries, set for production at LGES’s new Arizona facility. The batteries will power Rivian’s forthcoming R2 electric vehicles, with the agreement covering a total energy capacity of 67 GWh over the next five years. LGES, a spinoff from LG Chem specializing in battery production, has grown rapidly through partnerships with global automakers, and its latest agreement with Rivian follows several strategic investments influenced by the Biden administration’s Inflation Reduction Act, which incentivizes U.S.-produced BEV components. LGES has previously partnered…

Jaguar Land Rover (JLR) announced its upcoming Range Rover Electric has attracted substantial pre-order interest, with over 48,000 clients joining the waitlist ahead of its expected unveiling later this year. The all-electric SUV is set to become the first of JLR’s next-generation zero-emission vehicles. JLR disclosed the high demand while announcing its financial results for the first half of fiscal 2025. According to the automaker, demand for its plug-in hybrid vehicles (PHEVs) contributed to a 29% year-over-year sales increase, with PHEV sales rising 47% globally. The company sees this trend as indicative of customer interest in transitioning to battery electric…

Tesla  saw a decline in its China-made vehicle sales in October, breaking a three-month streak of sequential gains, according to data released by the China Passenger Car Association (CPCA) on Monday. Tesla’s Shanghai factory produced and sold 68,280 vehicles last month, including those for local markets and exports, marking the lowest monthly figure since April. The October sales reflect a 22.7% drop from the 88,321 units sold in September and a 5.3% decline year-over-year from 72,115 units sold in October 2023. In total, Tesla China has sold 744,038 vehicles in the first ten months of 2024, down 3.5% compared to…

Mitsubishi Motors and Nissan Motor are planning to form a joint venture aimed at developing autonomous driving technology, according to a report from the Yomiuri newspaper. The new company is expected to be established in March 2025, with both automakers holding equal stakes in the venture. This strategic partnership is designed to combine resources and expertise in order to enhance services related to autonomous driving, a rapidly advancing field within the automotive sector. In addition to focusing on the development of autonomous driving systems, the collaboration will also investigate the potential for electric vehicle (EV) batteries to serve as energy…

The European Union could see its annual energy costs reduced by up to 8.6% by 2040 through the implementation of bidirectional electric vehicle (EV) charging, a study by Fraunhofer Institutes, commissioned by Transport & Environment (T&E), reveals. The approach, known as vehicle-to-grid (V2G), enables EVs to store excess energy and return it to the grid, thereby stabilizing supply and potentially saving up to €22.2 billion each year. “Electric vehicles have put road transport on the path to decarbonisation, but they have more economic benefits yet to be realised,” said Fabian Sperka, vehicles policy manager at T&E. “Bidirectional charging will offer…

Just days after Scout Motors reintroduced itself to the market with the highly anticipated Traveler SUV and Terra pickup, the brand has reported strong early interest, particularly for its optional “Harvester” range-extender model. According to initial feedback from the company, around two-thirds of reservations are for the SUV model, while the remaining third are for the Terra pickup, marking a promising start for the Volkswagen-backed venture. Although Scout has not disclosed total reservation numbers, spokespersons shared that consumer response has been “extremely positive” and reservations have exceeded expectations. “This has resulted in a high volume of reservations that has surpassed…

The U.S. Interior Department has approved ioneer’s Rhyolite Ridge lithium mine in Nevada, the first lithium project to be permitted under President Joe Biden’s administration. The mine, operated by Australia-based ioneer (INR.AX), will supply lithium for EV batteries to manufacturers, including Ford Motor Co., in a bid to reduce reliance on foreign minerals. “This is a science-based decision,” said Laura Daniel-Davis, the Interior Department’s acting deputy secretary, underscoring the administration’s focus on climate change efforts. The project has been under review for over six years, during which ioneer worked with conservationists and regulators to address concerns about the endangered Tiehm’s…

Shares of Horizon Robotics ended 2.8% higher during their debut on the Hong Kong Stock Exchange on Thursday, following a successful initial public offering (IPO) that raised $696 million—the largest in Hong Kong this year. The company sold 1.355 billion shares at HK$3.99 each, as detailed in its filings. During the trading day, the stock reached a high of HK$5.50, representing a 37.8% increase from the IPO price. However, it retraced most of those gains, ultimately closing at HK$4.10. The first day of trading saw 493.2 million shares exchanged, amounting to HK$2.38 billion ($306.32 million). In contrast, the benchmark Hang…

BasiGo, a Kenyan-based electric vehicle (EV) company, has raised $24 million in Series A equity funding, along with an additional $17.5 million in debt financing, to further its mission of electrifying public transportation in Sub-Saharan Africa. This marks the largest investment in the region’s EV industry, according to the company. The equity round was led by Africa50 and included support from co-investors such as Novastar Ventures, CFAO Kenya, Mobility54, and others. In addition to the equity funding, BasiGo secured a $10 million loan from the U.S. Development Finance Corporation (DFC) for its Kenyan operations and a $7.5 million debt facility…

Airbus and Toshiba have announced a new partnership to develop superconducting technologies aimed at enhancing the performance of hydrogen-powered aircraft. The collaboration will focus on creating a superconducting motor with two megawatts of power, utilizing liquid hydrogen as both fuel and a cooling mechanism. The partnership will see Airbus UpNext, a wholly-owned subsidiary of Airbus, join forces with Toshiba Energy Systems & Solutions Corporation, the energy division of Toshiba Group. The goal is to leverage superconducting technologies, which allow electricity to flow with minimal resistance at extremely low temperatures, improving the energy efficiency of electric systems in hydrogen-powered planes. This…

Tesla has received approval from the local environment ministry to commence the first stage of its expansion at Gigafactory Berlin, which is expected to significantly enhance the plant’s production capacity. According to Reuters, the ministry has greenlit the initial three phases of the expansion, which will include new logistics facilities, a battery cell testing and recycling lab, and additional storage infrastructure. The expansion will utilize land that Tesla already owns and follows recent efforts by the company to clear trees in preparation for the project. Tesla’s application for the expansion, submitted in July 2023, has faced notable opposition from environmental…

Tesla has begun rolling out its Supervised Full Self-Driving (FSD) software to a limited number of Cybertruck owners, marking a significant development for the vehicle almost a year after its launch in November 2023. According to a post on cybertruckownersclub forum, access to the FSD feature has been enabled with the 2024.32.20 software update, labeled as “early access.” This rollout follows Tesla’s initial delivery of the Cybertruck, which notably lacked the FSD capability upon release, unlike previous models such as the Model 3 and Model Y. The Cybertruck, being substantially different in design and technology from other Tesla vehicles, required more…