Author: Christopher Harrison

Hyundai Motor Group and LG Energy Solution have officially announced their plans to establish a 50/50 joint venture in the United States, dedicated to producing electric vehicle (EV) batteries. The South Korean companies have signed a memorandum of understanding, with the intention of constructing a 30-gigawatt-hour (GWh) battery factory in Bryan County, Savannah, Georgia, with an investment exceeding $4.3 billion (KRW 5.7 trillion). Construction of the battery plant is scheduled to commence in the second half of this year, at a location adjacent to the Hyundai Motor Group Metaplant America site, which is currently under construction. This strategic positioning will…

Northern Ireland-based bus manufacturer Wrightbus has received a financial boost for its export strategy with a £50 million guarantee from UK Export Finance (UKEF). This guarantee ensures that 80 percent of the loan provided by Barclays Bank will be backed by the UK’s export credit agency. The financing will enable Wrightbus to fulfill orders in new markets, including Germany and North America, as well as expand its presence in existing markets such as Singapore and Hong Kong. The Minister for Investment, Lord Johnson, recently paid a visit to Wrightbus’ facility in Ballymena, County Antrim, where he engaged with investors and…

The construction of KORE Power’s electric vehicle (EV) battery factory in Buckeye, Arizona, has been fast-tracked thanks to an $850 million loan from the US Department of Energy (DOE). The funds will be allocated to the development of KOREPlex, the company’s battery cell manufacturing facility. While private financing, including an initial $75 million investment from Siemens Financial Services and Quanta Services, had already been secured for the factory, the injection from the DOE will accelerate the buildout process. KOREPlex, spanning an impressive 1.33 million square feet, will house multiple production lines dedicated to manufacturing batteries for EVs and battery storage…

India is set to offer incentives totaling 37.6 billion rupees ($455.2 million) to companies embarking on battery storage projects, with a combined capacity of 4,000 megawatt hours (MWh), according to government sources familiar with the matter. The scheme, which was revealed recently, aims to support battery storage initiatives that are crucial to India’s ambitious plan of expanding its renewable energy capacity to 500 gigawatts (GW) by 2030. Additionally, it seeks to reduce the current cost of battery energy storage, which ranges between 5.5 and 6.5 rupees per unit. Battery storage technology plays a vital role in stabilizing the power grid…

In a significant shift for the automaker, Kia America has experienced a remarkable transformation over the past five years, resulting in a surge of affluent buyers and a substantial increase in its average transaction price. Sean Yoon, the chief executive of Kia America, revealed in a recent interview with Auto News that the company’s revamped long-term brand strategy, initiated with the introduction of the Telluride in March 2019, has propelled Kia beyond its reputation as a value brand. Yoon proudly stated, “In terms of retail sales volume since 2018, excluding fleet, we grew by 31 percent, and our average transaction…

Chinese startup, Greater Bay Technology, has recently made bold claims about its groundbreaking thermal management technology for automotive batteries. The company asserts that its innovative “Phoenix” battery cell can efficiently operate at both high and low temperatures, enabling electric vehicles (EVs) equipped with these batteries to achieve an impressive range of up to 621 miles (1,000 km). According to reports from Bloomberg, the Phoenix battery cell incorporates superconducting materials that facilitate the implementation of advanced thermal management technology. This breakthrough allows for rapid heating of the battery cell from -4 °F to 77 °F (-20 °C to 25 °C) in…

Stellantis, a global automaker, has recently announced a new joint venture with metal recycling specialist Galloo, aimed at fostering a more circular economy and achieving greener practices across its entire business by 2030. The partnership between Stellantis and Galloo will focus on implementing a service to recycle end-of-life vehicles (ELVs) from Stellantis brands and potentially other automakers. While Stellantis took some time to embrace electrification, the company is now fully committed to adopting cleaner and more efficient strategies in its vehicle production. In addition to various projects related to electric vehicle (EV) batteries, Stellantis has set its sights on the…

Ferrari’s CEO, Benedetto Vigna, said that the company’s new electric vehicle (EV) manufacturing facility, known as the e-building, will be operational by next summer. Although Ferrari’s first EV is not set to hit the market for another two years, Vigna expressed confidence that the company’s profit margins will not be affected. Vigna made these remarks during an interview at Bloomberg’s Italy Capital Markets Forum, where he stated, “We will be ready in June 2024” regarding the completion of the new electric supercar factory in Maranello, Italy. The facility is designed to produce electric motors, inverters, batteries, and will house an…

In Australia, there has been a remarkable surge in the adoption of electric vehicles (EVs), and the Tesla Model Y has emerged as the frontrunner. According to the data released by the Federated Chamber of Automotive Industries, the Model Y has achieved impressive sales figures, with 3,178 units sold in May. This accomplishment has propelled the Model Y to become the best-selling SUV and the third best-selling vehicle overall in Australia, trailing only the Toyota Hi-Lux (5,772) and the Ford Ranger (4,110). The strong sales of the Model Y have not only bolstered Tesla’s position but have also resulted in…

Daimler Buses, a bus manufacturer, has unveiled its plans to establish a subsidiary dedicated to designing and constructing infrastructure tailored for electric buses. Known as Daimler Buses Solutions GmbH, the new subsidiary aims to provide comprehensive infrastructure solutions to customers across Europe in a streamlined manner. Daimler Buses already offers charging solutions, digital fleet tools, and various ecosystem components to electric bus customers. By creating this wholly-owned subsidiary, the company seeks to consolidate its existing expertise and expand its portfolio further. The independent nature of the new subsidiary is expected to foster entrepreneurial freedom, facilitating rapid growth and efficient decision-making…

German energy group E.On has unveiled a new product called Evercharge, a predictive maintenance tool designed to optimize the operations of charging points. E.On claims that Evercharge is the first software of its kind, offering charging station operators the opportunity to enhance network availability, reduce costs, and ensure steady revenues. Evercharge utilizes artificial intelligence to predict and prevent potential failures before they happen. The software is compatible with a wide range of charging station manufacturers and IT backend providers, adhering to standards like OCPP. Initially developed for internal use at E.On, the company has now made its predictive maintenance software…

Daimler Buses has introduced its groundbreaking eCitaro fuel cell bus, featuring a fuel cell as a range extender, at the prestigious Global Public Transport Summit. The launch of the eCitaro fuel cell coincides with the start of series production, marking a significant milestone for the company. In late May, Daimler Buses provided initial details about the new eCitaro variant, revealing that it combines Mercedes-Benz’s cutting-edge third-generation lithium-ion batteries with a fuel cell to extend its range. The solo bus model is equipped with three battery packs boasting a combined capacity of 294 kWh, while the articulated bus version can accommodate…