Lightning eMotors (NYSE: ZEV), a provider of specialty commercial EVs for fleets, and Forest River, a Berkshire Hathaway company, have formed a strategic partnership to deploy up to 7,500 zero-emission shuttle buses. The $850-million deal calls for Lightning to build fully electric powertrains and provide charging products and services for Forest River over the next… Read more »
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Nuvve and Blue Bird use Fleet-as-a-Service leasing model for V2G-equipped electric school buses
Nuvve Holding (Nasdaq: NVVE), the developer of a proprietary vehicle-to-grid (V2G) platform, and iconic school bus manufacturer Blue Bird (Nasdaq: BLBD) plan to use the financing resources of Levo Mobility to allow customers to lease V2G-enabled electric school buses, charging infrastructure and energy management for a flat monthly fee. Levo Mobility is a joint venture… Read more »
Niron Magnetics raises $21 million to commercialize rare earth-free magnets
Niron Magnetics has raised $21.3 million in new financing from the Volvo Cars Tech Fund and Volta Energy Technologies. Existing investors include Anzu Partners and the University of Minnesota. Niron will use the funding to build a pilot production facility in Minnesota. Niron’s Clean Earth Magnet technology eliminates the need for rare earth minerals in… Read more »
Lilium secures order from Brazilian airline for 220 electric jets
Azul, a Brazilian airline that serves 110 destinations and operates a fleet of more than 160 aircraft, has ordered 220 electric aircraft from Lilium in a $1-billion commercial deal and strategic alliance. The companies aim to establish a co-branded network in Brazil. Azul will operate and maintain the Lilium Jet fleet, and Lilium will provide… Read more »
Nissan to build a 35 GWh battery plant and produce a new electric crossover in Sunderland, UK
Many in the media have been asking two questions about Nissan. As its aging Leaf becomes a byword for EV obsolescence, will the company rejuvenate its once cutting-edge electrical efforts? And, amid the uncertainty following Brexit, will the automaker remain committed to its Nissan Motor Manufacturing plant in Sunderland, England, which employs some 7,500 workers?… Read more »
DOE awards $60 million to 24 emission-reduction R&D projects
The DOE has awarded $60 million in funding to 24 R&D projects aimed at reducing CO2 emissions from passenger cars and light- and heavy-duty trucks. The projects, funded through the DOE’s Office of Energy Efficiency and Renewable Energy (EERE) Vehicles Technology Office (VTO), address the two largest contributors to transportation-sector emissions. Passenger cars and light-duty… Read more »
Switched reluctance motor-maker Enedym secures $15 million in new financing round
Enedym, a developer of electrified powertrains, has secured $15 million in new financing from an international group of investors. The company will use the new investment to accelerate its motor development and increase its footprint in the electric motor market, focusing on OEMs in the automotive, micromobility, wind farm and industrial markets. Enedym builds switched… Read more »
XL Fleet partners with eNow on electric transport refrigeration units
XL Fleet has formed a development agreement with eNow, a provider of solar and battery power systems for electric transport refrigeration units (eTRUs). XL Fleet has also invested $3 million in eNow’s convertible notes, and has the right to acquire the company at a predetermined valuation. XL Fleet will supply battery and power electronics systems… Read more »
Tesla Q2 earnings report: record billion-dollar income, delays for Semi and Cybertruck
The headline figure of Tesla’s second-quarter 2021 earnings report was a blockbuster: $1.1 billion in GAAP net income, a new record for the company and an astounding success for a young automaker. The milestone was reached thanks to the soaring sales of Models 3 and Y—the former is now outselling many gas burners in several… Read more »
Turntide Technologies acquires AVID Technology, raises $225 million in financing
Turntide Technologies has acquired UK-based AVID Technology, a cleantech engineering firm that manufactures electrified powertrain components for EVs and hybrids. Turntide’s Smart Motor System may reduce energy consumption by nearly 64%, and is free of the rare earth minerals that most higher-efficiency permanent magnet motors require. The company has been on an expansion spree lately,… Read more »
