The UK government has awarded £23 million ($29 million USD) to numerous companies for investments in EV battery research, as part of a push to help keep the country at the forefront of EV tech development. The awards are part of the Faraday Battery Challenge, a £274 million government investment bringing together academia and businesses… Read more »
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Proterra CEO: Electric buses are close to inevitable
The economic case for electric transit buses has become a no-brainer, Proterra CEO Ryan Popple told Bloomberg in a recent interview. The energy cost of a typical e-bus is about 20 cents per mile, compared to about 75 cents per mile for diesel. The up-front costs for e-buses are substantially higher, but Proterra recently introduced… Read more »
Hyundai Motor Group will invest $85.6 million in Rimac
Hyundai Motor Group announced it will partner with Croatian car manufacturer Rimac to develop a prototype of an electrified Hyundai N-brand concept car and high-performance EV. The partnership will entail a combined $85.6 million investment from Hyundai and Kia. Euisun Chung, Hyundai Executive Vice Chairman, said, “Rimac is an innovative company with outstanding capabilities in… Read more »
NASA awards researchers $6 million to develop fuel cell aircraft
NASA has awarded a team from the University of Illinois, Urbana-Champaign $6 million to support research into an electric aircraft. The team will research the use of liquid hydrogen in fuel cells to power an aircraft propulsion system. They also intend to develop a design concept integrating superconducting electrical components into an aircraft that is… Read more »
Plug-in vehicles displaced 323 million gallons of gas in 2018, up 42% from 2017
According to the DOE, plug-in vehicles on US roads displaced 323 million gallons of gasoline in 2018, or about 0.25% of all gasoline used in the US that year. Gasoline displacement from plug-in vehicles in 2018 was about 42% higher than in 2017 and about twice as much as 2016. Displacement from all-electric vehicles is… Read more »
Cree to invest $1 billion to expand silicon carbide capacity
LED and semiconductor manufacturer Cree will invest up to $1 billion to expand its silicon carbide materials capability and wafer fabrication capacity. Slated for completion in 2024, the expansion will entail the development of an automated 200 mm silicon carbide fabrication facility and a materials factory in Durham, North Carolina. The plan includes the buildout… Read more »
Meritor to acquire AxleTech for $175 million
Automobile component manufacturer Meritor will acquire drivetrain company AxleTech for $175 million in an effort to expand its off-highway, defense, and aftermarket segments. AxelTech’s offerings include a line of independent suspensions, axles, braking solutions, and drivetrain components. The company recently launched a new line of electric powertrain systems for off-highway applications. Jay Craig, Meritor’s CEO… Read more »
Is Workhorse’s deal to buy Lordstown plant from GM to build electric pickup too good to be true?
News travels by strange paths these days. The world first learned of a tentative deal for electric truck maker Workhorse to buy GM’s idled Lordstown, Ohio plant via a self-congratulatory tweet by the President of the US. If the deal goes through, it could be a win-win-win-win: Workhorse might receive a windfall like the one… Read more »
BYD launches next-generation electric yard truck
Chinese automobile manufacturer BYD has launched a new generation of its 8Y-battery electric yard trucks. The company’s first delivery will include 14 second-generation electric yard trucks to two facilities operated by BNSF Railway in Southern California, where a demonstration project began with six of BYD’s first-generation electric yard trucks in 2018. The demonstration project is… Read more »
Tesla closes on $2.7 billion in new debt and stock offerings
Tesla has a plethora of projects in the pipeline – the Tesla Semi, Model Y, the Tesla Pickup – and making these real will require vast sums of cash – as much as $2.5 billion in capital expenditures this year, according to Bloomberg. So it wasn’t much of a surprise when the company announced last… Read more »
