It’s indisputable that electric buses can save local transit authorities substantial amounts on fuel and maintenance costs. However, a new analysis conducted by the Volvo Group and the audit and advisory firm KPMG finds that, taking into consideration such factors as noise, travel time and emissions, the total savings may be much higher. “Standard investment… Read more »
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Allied Market Research: Global market for electric motors to reach $129 billion by 2020
Electric motor sales are rapidly revving up. The global motor market will grow to $129 billion by 2020, an annual growth rate of 5.3%, according to a new report from Allied Market Research. Automotive applications account for nearly 52% of global revenue, thanks to the steadily increasing adoption of electrified vehicles. According to the report,… Read more »
California Energy Commission grants $10 million for electric buses and trucks
The California Energy Commission has approved more than $10 million in grants for four projects demonstrating medium- and heavy-duty vehicle technologies using battery-electric or fuel-cell powertrains. The Alternative and Renewable Fuel and Vehicle Technology Program projects include: $2.9 million to CALSTART, Inc. to buy four 33-foot BYD battery-electric buses, which will be built at BYD’s… Read more »
Proterra’s electric buses approach $1 billion in total pipeline sales opportunities
Will the transit vehicle market be the first to completely eliminate petroleum use? Proterra thinks so. During a recent interview for the latest issue of Charged, CEO Ryan Popple told us that the company is currently in contention for roughly 20% of the potential transit vehicle orders in the US over the next couple years,… Read more »
Indian electric scooter builder receives $12 million in funding
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 »
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 »