The European Investment Bank (EIB) has granted a €125-million loan to Umicore, the Belgian-based global materials technology and recycling group, to finance part of a greenfield production facility for cathode materials in Poland. The cathode materials will be supplied to battery manufacturers of lithium-ion batteries that are primarily used in EVs. The EIB loan will… Read more »
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New study: EV fuel cost savings vary widely across the US
EV drivers can save as much as $14,500 on fuel costs over 15 years compared to driving a legacy vehicle. That’s the conclusion of a new analysis conducted by researchers at the DOE’s National Renewable Energy Laboratory (NREL) and Idaho National Laboratory (INL). The new report, Levelized Cost of Charging Electric Vehicles in the United… Read more »
Formula E to resume live racing in August with six-race championship series
Formula E, which was forced to suspend its season due to the corona crisis, will resume racing in August, at Berlin’s Tempelhof Airport. A series of six races in nine days will decide the winner of the 2019/20 ABB FIA Formula E Championship. Each pair of races will use a different track configuration. Strict safety… Read more »
Watch out Europe, the Chinese are coming—and they’re driving EVs
China’s formidable auto industry has so far failed to find a foothold in the North American or European markets. Many industry observers believe that the country’s prominent push for electrification has little to do with concern about climate change, and much to do with the country’s quest for a seat at the top table of… Read more »
German stimulus plan supports EVs, ICEs out fossil vehicles
Following the French government’s announcement of an auto industry bailout that included some pro-EV measures, the German government has unveiled a stimulus package that advances vehicle electrification. Chancellor Angela Merkel’s Christian Democratic Union, along with its two governing partner parties, hashed out the agreement in a marathon 21-hour negotiating session. The package, which is expected… Read more »
Next EV hotspot: Alabama?
You may not think of Alabama as a center of the auto industry, but in fact, Mercedes-Benz opened an assembly plant in Tuscaloosa County back in 1993, and today Hyundai, Honda, Toyota and Mazda, as well as several Tier 1 and Tier 2 suppliers, have operations in the Yellowhammer State. You may also think a… Read more »
Electric powertrain provider IRP Systems raises $17 million in Series B funding
IRP Systems, a provider of electric powertrain products, has raised $17 million in Series B funding. The round was led by Chinese venture capital firm Fosun RZ Capital. Other investors include JAL ventures, Entrée Capital, Tal Capital, Union Tech Ventures, Cendana Capital and Champion Motors. IRP Systems was originally founded as an aerospace powertrain company,… Read more »
COVID-19 vs EVs: What happens?
EVs may experience minor hiccups, but they shouldn’t suffer much more than the rest of the auto industry. It’s the question everyone has to ask: How will the Covid-19 pandemic affect my business? For those in the electric-car world, the question is more pointed: Will the pandemic hurt the growth of electric vehicles over the… Read more »
VisIC partners with ZF to develop next-gen EV inverters
ZF Friedrichshafen and VisIC Technologies have announced a partnership to create a new generation of EV drivelines. The focus of the joint effort will be on 400-volt driveline applications, covering the largest segment of the EV market. ZF specializes in wide-band-gap semiconductor technology, such as silicon carbide and gallium nitride. Gallium nitride semiconductors are thought… Read more »
In-Charge Energy is preparing for the coming tsunami of commercial electric trucks
Widespread adoption of electric commercial vehicles has seemed to be just around the corner for several years now. This has been a puzzling and frustrating situation for EV advocates (and even more so for electric truck builders), because the economic case for electrification is strong. Several industry experts have told Charged that the slow progress… Read more »