Electra Aero, a maker of hybrid electric short takeoff and landing aircraft, says it has received some 2,200 preorders, worth about $9 billion for its new EL9 Ultra Short hybrid electric aircraft. The aircraft manufacturer’s mission statement reads that the company was founded to “provide affordable air travel without airports, emissions or noise.” The Ultra… Read more »
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NYSERDA awards $2.9 million for shared electric transportation projects in New York
The New York State Energy Research and Development Authority (NYSERDA) has awarded $2.9 million to 29 community-led projects to enhance planning for shared electric transportation solutions in New York, through the state’s $32-million Clean Mobility Program. Each of the awarded project teams will receive $100,000 to conduct feasibility studies on local transportation options including shared… Read more »
Industrial electric robot startup Ati Motors raises $20 million in Series B funding
Ati Motors, a Bangalore, India-based artificial intelligence (AI) and autonomous robotics company, recently raised $20 million in a Series B funding round. The round was led by Walden Catalyst Ventures and NGP Capital and included participation from numerous current investors including True Ventures. The company will use the new funding to boost product development and… Read more »
Global electric off-highway equipment market projected to reach over $53 billion by 2032
The value of the global electric off-highway equipment market is expected to surpass $53.8 billion by 2032, according to a new report published by Research and Markets. The research company’s report, entitled “Electric Off-Highway Equipment Market Forecast 2024-2032,” valued the market at $13.2 billion for calendar year 2023, and forecast that it will increase to… Read more »
Mining firm Fortescue orders $400 million worth of electric mining equipment from China’s XCMG
Australian mining company Fortescue has placed a $400-million order with Chinese heavy equipment maker XCMG (Xuzhou Construction Machinery Group). The sale, which includes over 100 pieces of electric equipment, is the largest single export deal in XCMG’s history. The massive contract includes a wide range of battery-electric heavy equipment, including electric wheel loaders, dozers, semi-trucks… Read more »
Toyota invests $500 million in electric air taxi company Joby
Toyota Motor will invest an additional $500 million in Joby Aviation, a producer of electric vertical landing and takeoff (eVTOL) aircraft. The investment is intended to support certification and commercial production of Joby’s new electric air taxis, which the two companies view as “the future of air travel.” Toyota views the investment as a continuation… Read more »
Unipart joins £11-million power electronics and electric motor initiative
Unipart Manufacturing is participating in Project PULSE (Power electronics Upscale for Localization and Sustainable Electrification), an £11-million ($14.5-million) initiative funded by the UK government through the Advanced Propulsion Centre (APC). The project, led by Protean Electric, brings together five industrial partners and two leading universities—Coventry University and Warwick Manufacturing Group (WMG) —to industrialize the assembly… Read more »
Wright Electric receives $3.34-million grant from FAA for ultra-lightweight aircraft batteries
Wright Electric, a US developer of ultra-lightweight motors, generators and batteries for the aerospace and military sectors, along with its partners, which include NASA, DOE and DOD, has been awarded a $3.34-million grant from the FAA’s Fueling Aviation’s Sustainable Transition (FAST) program. The funding will be used to develop a new class of batteries for… Read more »
Colorado announces $31.7 million in grants for electric buses
Governor Jared Polis and the Colorado Department of Transportation recently announced $31.7 million in grant funding to local governments, transit agencies and nonprofits for the purchase of 28 new electric transit vehicles. The Colorado Clean Transit Enterprise (CTE) will provide $15 million for the initiative, and the remaining $16.7 million will come from the Volkswagen… Read more »
Monarch Tractor raises $133 million in Series C funding for electric tractor
Monarch Tractor, creator of the MK-V electric tractor, has raised $133 million in a Series C funding round co-led by Astanor and HH-CTBC Partnership, with additional support from At One Ventures, PMV and The Welvaartsfonds. Monarch will use the new funds to further develop its AI product offering and expand its operational footprint domestically and… Read more »
