Governor Jared Polis of Colorado has signed SB 193 into law, providing $65 million for an electric school bus grant program. The state will award funding to school districts to help finance, purchase and maintain electric school buses, and to install charging infrastructure. New federal funding for electric school buses is available from the EPA’s… Read more »
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Infinitum Electric raises $80 million in funding for its air-core PCB-based motors
Infinitum Electric, creator of an innovative air-core motor, has secured $80 million in a Series D funding round led by Riverstone Holdings, bringing the company’s total funding to $135 million. Infinitum will use the new funds to scale up production—it plans to vertically integrate and automate production of its motors for the commercial and industrial… Read more »
EPA announces $500 million in funding for electric school buses
The EPA has announced $500 million in new funding for school districts and other eligible bus operators to begin replacing the nation’s fleet of school buses with American-made zero-emission buses. This 500 big ones represents the first round of funding from the $5-billion investment authorized by the Bipartisan Infrastructure Law. Portions of the rebates can… Read more »
Flux Marine raises $15 million in Series A funding, will manufacture electric outboards in US
Flux Marine, a developer of electric outboard motors and battery systems for watercraft, has raised $15.5 million in an oversubscribed Series A funding round led by Ocean Zero. The company will use the new funding to expand manufacturing, recruit additional talent, and continue to develop its technologies. Flux Marine says its outboard motors “reflect years… Read more »
St Petersburg, Florida’s PSTA receives $18 million federal grant for electric buses
The DOT’s Federal Transit Administration (FTA) has awarded $409.3 million in grants to 70 projects in 39 states to modernize and electrify America’s bus systems. One of these grants will go to the Pinellas Suncoast Transit Authority, which serves Charged’s home city of St Petersburg, Florida. The PSTA grant is for $18,399,000, the second-largest amount… Read more »
GM to invest $7 billion in Michigan plants, mostly for battery cells and electric trucks
GM has announced new investment of more than $7 billion in four Michigan manufacturing sites, calling it “the single largest investment announcement in GM history.” Most of the new investment, which is expected to create 4,000 new jobs, is aimed at increasing battery cell and electric truck manufacturing capacity. Projects include the construction of a… Read more »
Allison Transmission to invest $42 million in Jing-Jin Electric’s IPO
Allison Transmission will participate in the initial public offering of electric motor, inverter and propulsion system supplier Jing-Jin Electric (JJE), making a strategic investment of approximately $42 million. FAW Group will also participate as a strategic investor in the IPO. Allison’s investment in JJE follows a recently announced strategic partnership between the two companies, and… Read more »
Ford to invest £230 million to equip Halewood, UK facility to build electric power units
Ford plans to transform its Halewood vehicle transmission facility in the UK, in order to build electric power units—complete all-electric powertrains—for future EVs for the European market. The company will invest up to £230 million at Halewood (including support from the UK government). Production of the e-powertrains is expected to begin in mid-2024, and initial… Read more »
Road test indicates existing electric trucks could replace millions of diesels on short-haul routes
When it comes to long-haul trucking, battery-electric trucks face a number of challenges, including weight restrictions and the need for an ultra-high-power charging solution. However, despite what you may read in those “anything but EVs” articles, the jury’s still out on when, or whether, battery and charging specs will improve to meet these challenges, or… Read more »
Heart Aerospace secures $35 million for electric planes, purchase order from United Airlines
Gothenburg, Sweden-based Heart Aerospace has raised $35 million in a Series A financing round led by Breakthrough Energy Ventures, United Airlines Ventures and Mesa Air Group. Heart Aerospace’s first aircraft will be the ES-19, a battery-electric 19-passenger regional airplane. Heart expects to begin deliveries for commercial use by 2026. The first-generation aircraft will have a… Read more »