Polish EV charger manufacturer Ekoenergetyka has signed a $182-million loan agreement with Bank Pekao to finance increased production capacity to meet growing European demand. The company, which has launched a new production line for improved efficiency and product quality, plans to further automate the line by introducing industrial robots for some elements of production. Ekoenergetyka… Read more »
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Engineering AI platform Neural Concept raises $27 million in Series B funding
Switzerland-based Neural Concept, which is developing an engineering intelligence using 3D deep learning for product design, has raised $27 million in a Series B funding round. The round was led by Forestay Capital. Investment and technology development firm D. E. Shaw and existing investors Alven, CNB Capital, HTGF and Aster Group also participated. The round follows… Read more »
Volkswagen to invest up to $5 billion in Rivian over the next 2 years, companies will share software
The Volkswagen Group will invest up to $5 billion in US EV maker Rivian in a complex deal under which the two companies will form an equally-owned joint venture to share EV architecture and software. As reported by Reuters, Volkswagen will immediately invest $1 billion in Rivian through a convertible note, and also pledges to… Read more »
Oakland school district now has a 100% electric, V2G-capable school bus fleet
The transition to electric school buses is well underway in California—school districts in the state had ordered over 2,000 electric buses as of late 2023. In May, the Oakland Unified school district announced the conversion of its entire school bus fleet to EVs. (And none too soon—the American Lung Association recently reported that the Bay… Read more »
First Student receives $200 million in third EPA school bus funding round
US-based school transportation provider First Student has received $200 million in rebates from the third round of funding of the EPA’s Clean School Bus Program. The new funding brings First Student’s total program awards to $401 million across the three funding rounds. This round will enable the company to deploy up to an additional 670… Read more »
APM Terminals to pilot electric terminal tractors with inductive charging at New Jersey port
APM Terminals Elizabeth, a division of shipping giant A.P. Moller-Maersk, is dipping its corporate toe into electrification. The company will invest $5 million in its Electrification Pilot Project, including a $1.4 million Diesel Emissions Reduction Act (DERA) grant from the EPA. The DERA grant has facilitated the replacement of seven diesel terminal tractors with new… Read more »
Volvo CE invests $42 million in EV production facilities in Korea and Sweden
Volvo Construction Equipment has announced the opening of new facilities at its plants in Changwon, South Korea and Braås, Sweden. The two facilities were built at a cost of 440 million Swedish kronor ($42 million). In Changwon, Volvo invested 80 million kronor to build a battery pack production facility for electric excavators. “With the completion… Read more »
Motiv delivers 55 electric trucks to Purolator
California-headquartered Motiv, a manufacturer of Class 4 to 6 electric trucks, has completed delivery of 55 trucks to Canadian shipping company Purolator. The new trucks were ordered following Purolator’s successful pilot of five Motiv trucks in 2021. They will be used on daily routes in Richmond and Vancouver, British Columbia, and in Quebec City and… Read more »
Hexagon Purus teams with Hino to launch Tern electric truck
Norway-based EV systems supplier Hexagon Purus and Japanese vehicle manufacturer Hino Trucks, a Toyota subsidiary, have launched their electric truck brand, Tern, and its first model, the RC8 Class 8 tractor tailored for the US market. A product of a long-term agreement between the two companies valued at up to $2 billion, the Tern will… Read more »
Daimler Truck continues to choose Proterra battery technology for electric school buses and delivery vehicles
Proterra’s August bankruptcy filing sent a shock wave through the EV industry, partly because several EV builders depend on Proterra’s well-respected battery technology. Fortunately, the Volvo Group quickly snapped up the company’s battery business, and it appears that business as usual will continue. Daimler Truck North America (DTNA) has announced plans to use Proterra’s battery… Read more »