Posts By: Charles Morris

Tesla raises $1.2 billion in new capital: good news or bad?

As expected, Tesla recently raised about $1.2 billion in fresh capital by selling stock and issuing new debt. The company sold stock at $262 per share, bringing in about $350 million, and issued convertible notes worth another $850 million, according to a document filed with the SEC. CEO Elon Musk personally bought $25 million in… Read more »

Maxwell Technologies acquires Nesscap Energy

Maxwell Technologies has agreed to acquire Nesscap Energy for $23.175 million, or about 1.1 times Nesscap’s annualized revenue. The purchase price will be paid by the issuance of approximately 4.6 million Maxwell shares. Nesscap has operations in Korea, Germany, and China. As a specialist in small cell format ultracapacitor products, Nesscap provides R&D and manufacturing… Read more »

New VW subsidiary to manage $2 billion investment in EV infrastructure

Volkswagen has formed a new subsidiary to manage its $2 billion penance for the dirty diesel scandal. The new company, Electrify America, will be based in Reston, Virginia, and Volkswagen Group of America Chief Operating Officer Mark McNabb will serve as its CEO. Electrify America will build and maintain a “high-speed, cross-country” network of over… Read more »

FDK and Fujitsu develop novel cathode material for solid-state batteries

FDK and Fujitsu Laboratories have jointly developed lithium cobalt pyrophosphate (Li2CoP2O7) as a cathode material for solid-state lithium-ion batteries. The new material can operate at charge/discharge voltages of more than 5 V, which is beyond the limits of current lithium batteries. The energy of a battery is a function of its voltage and capacity, so an… Read more »

EV Connect to install 200 new charging ports in New York State

EV Connect offers a cloud-based software platform for managing EV charging. The company recently won a $1.4-million contract funded by the New York State Energy Research and Development Authority (NYSERDA) to install and manage 200new charging ports at 50 locations. EV Connect will manage the charging stations, host locations, electric utility interaction and the driver… Read more »

27 BYD electric trucks go into service at LA-area freight facilities

Southern California’s ports and freight facilities, which contribute to some of the worst air quality in the nation, are steadily replacing legacy diesel trucks with zero-emission vehicles. The latest project, supported by the California Air Resources Board and San Bernardino Council of Governments, will deploy 27 BYD electric yard and service trucks in disadvantaged communities… Read more »

Utility ENGIE to acquire charging provider EV-Box

EV-Box, a charging solution provider with over 40,000 stations in service, has agreed to be acquired by the French multinational electric utility ENGIE. Netherlands-based EV-Box sells charging stations, charging management software and services to business, public sector and residential customers. It has grown rapidly since 2014, expanding into Belgium, France, Scandinavia, Germany, the UK and… Read more »

Detroit Electric signs deal to manufacture electric SUVs in China

Detroit Electric, maker of the the SP:01 limited-edition electric two-seater, has formed a three-way joint venture with China Smarter Energy Group (CSE) and the China Yixing Environmental Technology Industrial Park Development Corporation (ES&TP) to manufacture electric SUVs in China. The new company, Emperor Electric Car, has a total investment of around $1.8 billion, and will… Read more »