Bangalore-based startup Ather Energy has received $12 million in funding from the private equity fund Tiger Global. The company will use the new capital for development, testing, production and launch of the Ather S340, an electric two-wheeler. “Ather Energy aims to build smart, connected electric vehicles of the future,” said CEO Tarun Mehta. “We want… Read more »
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Proterra wins $3 million grant for California electric bus manufacturing line
The California Energy Commission has awarded a $3 million grant to Proterra to fund the design, development and construction of a new electric bus manufacturing line. The project will also receive $5.4 million in private investment. The proposed facility, to be located in the San Gabriel Valley, is expected to be operational by the fourth… Read more »
$30 million in Federal grants to pay for Proterra electric buses
The Federal Transit Administration FTA recently distributed $55 million in grants to 10 transit agencies as part of a program to deploy US-made electric transit buses. More than half of that money will be going to South Carolina-based Proterra, the Greenville News reported. Six transit agencies in five states will buy a total of 28… Read more »
Motiv Power Systems raises $7.3 million to produce electric truck powertrains
California-based Motiv Power Systems has raised $7.3 million in growth capital from investors led by Colorado’s Magness Investment Group. The funding comes as the second Motiv-equipped all-electric school bus is delivered to Kings Canyon Unified School District. Motiv’s electric Powertrain Control System (ePCS) is designed to electrify any truck or bus chassis with a variety… Read more »
Electric bus maker Proterra raises $40 million in additional funding
Electric bus manufacturer Proterra has raised more than $30 million in additional funding, and expects to close on another $10 million within the coming weeks. Kleiner Perkins and GM Ventures led the financing, with another ten or so venture capital firms participating. Proterra electric vehicles have logged over 400,000 zero-emission miles in 11 US cities…. Read more »
Smith Electric secures $42 million investment, hints at IPO
Commercial EV builder Smith Electric Vehicles has secured a $42 million investment commitment from Sinopoly Battery Limited, a multinational producer of lithium-ion batteries and related EV products. The first $2 million has been delivered, and the remainder will be invested in two tranches pending milestones to be achieved in the coming months. Sinopoly will become… Read more »
15 million for Massachusetts alt fuel programs, including electric school bus pilot
Massachusetts has announced $15.5 million of new funding to support alternative fuel vehicles and related infrastructure. The investment, which includes $11.7 million in Congestion Mitigation and Air Quality funds from the US DOT, will be split among several programs, including an electric school bus pilot. The first phase of the Massachusetts Electric Vehicle Incentive Program… Read more »
New York to offer $19 million in vouchers for electric trucks
New York Governor Andrew Cuomo has announced the $19-million New York Truck Voucher Incentive Program, which will subsidize the purchase of electric, hybrid and alternate-fuel commercial trucks. The New York State Energy Research and Development Authority (NYSERDA), together with the non-profit organization CALSTART, will be managing the program. The program will include two voucher funds…. Read more »
Smith Electric reaches a milestone: 700 vehicles, five million miles
According to Smith, its fleet customers save an estimated 70% annually on fuel and maintenance during the life of the vehicle.
Protean Electric will use $84 million to build a new manufacturing facility In China
Protean plans to begin producing prototype in-wheel electric motors in Liyang early next year and to ramp up to volume production in 2014.