Author: Tyne Rodriquez

Sono Motors, a German electric vehicle (EV) maker, has extended its #savesion campaign, which aims to raise €105m for the development of its solar-powered EV, the Sion. The campaign, which began on 8 December 2022, was set to end on 28 February 2023, but has now been extended to give more people the opportunity to invest. Since the start of the campaign, over 8,600 community members and other sources have committed over €47m to the effort. Prior to the campaign, Sono Motors had already received 21,000 private reservations with advance payments. However, during the campaign, the company received an additional…

Vietnamese electric vehicle (EV) manufacturer VinFast has announced the merger of its Canadian and US operations to form VinFast North America. The move aims to increase efficiency and follows the company’s rapid expansion in recent years. The new entity, VinFast North America, will be headquartered in Los Angeles, California, and will be responsible for key strategic business and management operations. VinFast Canada will become a member company under VinFast North America, responsible for sales, service, and distribution in the Canadian market. The consolidation is designed to provide greater focus, responsiveness, and accountability, streamlining operations, and enhancing the delivery of its…

Ferrari is developing a unique and authentic soundtrack for its future electric supercars that will directly correspond to the vehicle’s powertrain performance. This will allow drivers to experience the sensation of driving by sound, similar to the experience of driving a traditional Ferrari model like the SF90 Stradale. Unlike other manufacturers who use simulated audio through speakers, Ferrari’s approach will utilize the actual sound of the car’s powertrain. The company has been focusing on fine-tuning the dynamics of its future EVs to handle like mid-engined supercars, but recognizes that the sound of EVs has been a weak point. To address…

Forum Mobility, a joint venture between CBRE and Homecoming Capital, has announced plans to invest $400 million in the development of electric truck charging depots in California. The company aims to take advantage of the state’s efforts to transition the trucking industry to zero-emission vehicles. Investors, including Amazon, have already committed to the project. The venture will focus on ten sites in Northern and Southern California, primarily in the ports of Long Beach and Oakland. The depots will be capable of simultaneously charging medium- and heavy-duty trucks. The company expects to break ground in 2023 and is working with CBRE…

Volkswagen is reportedly considering a public listing for its energy and charging division, including its battery business PowerCo, following the successful initial public offering (IPO) of Porsche last year. The move is said to be part of a training program led by CEO Oliver Blume and the results of the potential listings will be presented to investors at a capital markets day later in the year. The CEO of Volkswagen’s energy and charging division, Elke Temme, stated in an interview with Reuters that electric vehicles (EVs) have the potential to smooth out fluctuations in electricity prices by serving as temporary…

Just two weeks after introducing significant price reductions for its entire S3XY lineup, Tesla has made a small adjustment by increasing the starting price of its Model Y Dual Motor AWD by $500. The vehicle now has a starting price of $53,490. Despite this increase, the Model Y Dual Motor AWD remains more budget-friendly than it was in the past. Before Tesla’s recent price cuts, which lowered the cost of the crossover SUV by $13,000 to $52,990 before incentives, the variant was listed at $65,990 on the company’s website. The Tesla Model Y Dual Motor AWD is priced at $53,490…

Honda Motor Co announced the creation of a new division as part of an organizational overhaul aimed at strengthening and accelerating its electrification business. The move is part of the automaker’s efforts to catch up in the rapidly growing market for full electric vehicles, which is currently led by Tesla Inc and China’s BYD. Japanese automakers have been at risk of falling behind their European and American rivals in the EV market. Effective April 1, the new division will consolidate Honda’s electrification strategy and the development of automobiles, motorcycles, and power products such as generators. Additionally, the company will combine…

Summit Nanotech Corporation, a company developing direct lithium extraction technology, has raised $50 million in its Series A2 funding round. The round was led by Evok Innovations and BDC Capital’s Climate Tech Fund, with participation from previous investors such as Xora Innovation and Capricorn Investment Group. The funds will be used to expand the global resource base and scale Canadian manufacturing capabilities. Additionally, the company has welcomed a consortium of new climate-focused funds: Volta Energy Technologies, NGP, Helios Climate Ventures, and The Grantham Foundation. With the Series A2 round, Summit Nanotech has now raised a total of $72 million in…