The UK’s innovation agency, Innovate UK (formerly the Technology Strategy Board) has put up a pot of £15 million ($24 million) in grants for the development of vehicle technologies that can reduce CO2 emissions. Funding will be awarded on a competitive basis. Innovate UK is seeking proposals in these areas: Electric machines and power electronics… Read more »
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Daimler sells stake in Tesla for $780 million in cash
Daimler has reorganized its financial relationship with Tesla, selling its 4% stake in the California carmaker. The cooperation between the partners on the Mercedes-Benz B-Class Electric Drive is unaffected. “We are extremely satisfied with the development of our investment in Tesla, but it is not necessary for our partnership and cooperation,” said Daimler Board Member… Read more »
iPhone contract manufacturer Foxconn invests $811 million in EV factory
The rumors have been flying since the Foxconn Technology Group’s June announcement that it plans to build an EV with a price tag of less than $15,000. The Taiwanese company builds iPhones for Apple and the touchscreen for the Tesla Model S. [Correction 1:00pm EDT 9/26/14: Despite widespread internet reports that Foxconn produces the Model… Read more »
BYD chief: Electric buses and PHEV consumer cars will lead the Chinese boom
The head of Chinese automaker BYD sees a major plug-in boom on the horizon, but has some definite ideas about the proper roles of PHEVs vis a vis pure EVs. Some would say the party has already started – BYD’s share price has nearly doubled this year, as the company delivered 6,600 units of its… Read more »
Chicago orders 20 electric garbage trucks
The City of Chicago has placed a purchase order with Motiv Power Systems for up to $13.4 million to supply 20 electric garbage trucks. The ERV is a Class 8 truck with a Loadmaster Excel-S rear loader body and a Crane Carrier chassis. It has a gross weight of 60,000 lbs and a capacity of… Read more »
US plug-in sales break 250,000 as National Drive Electric Week kicks off
US plug-in vehicle sales have surpassed the quarter-million mark, just in time for National Drive Electric Week, September 15-21. Sales have increased by a healthy percentage every year since the Volt and LEAF went on the market at the end of 2010. 2014 sales total 76,799 so far, on track to handily beat 2013’s figure… Read more »
$55 million in new federal funding for vehicle R&D, 19 EV projects
The DOE has announced $55 million in new funding for 31 projects to accelerate R&D of vehicle technologies to improve fuel efficiency and reduce costs. 19 of the new projects are aimed at meeting the goals of the EV Everywhere Grand Challenge, which seeks to make the US auto industry the first to produce plug-in… Read more »
Prestolite to supply 250 electric powertrains to Chinese bus manufacturer
Prestolite E-Propulsion Systems (PEPS), a joint venture between Prestolite Electric Beijing and TM4 Inc, has received a multi-million-dollar order from Chinese bus manufacturer Foton for 250 SUMO HD electric powertrains. PEPS has been working with Foton to test its SUMO HD systems over the last 18 months. Prestolite’s TM4 SUMO system is designed for medium-… Read more »
Marine battery maker secures $5 million in funding, pursues aggressive growth
Marine battery systems maker Corvus Energy has finalized a $5-million financing deal with Green Marine Capital (GMC). The company plans to use the new funding to pursue a strategy of aggressive growth. According to Corvus, its lithium-ion Energy Store Systems (ESS) serve more than 90 percent of the marine market, including both hybrid and fully… Read more »
Ultracap maker Skeleton Technologies raises €3.9 million in round A funding
Skeleton Technologies, a European manufacturer of ultracapacitor technology, has completed Round A financing of €3.9 million ($5.4 million). The funds will be used to scale up production, for product development, and for sales and marketing efforts. Skeleton Technologies manufactures SkelCap ultracapacitor cells, which are available in ranges from 250 F to 3500 F, as well… Read more »
