Alliance Ventures, the venture capital arm of Renault-Nissan-Mitsubishi, has invested an undisclosed amount in PowerShare, an EV charging platform startup based in China. PowerShare, which received investment from BP Ventures just weeks before this latest investment, offers an online platform that connects EV drivers, charge point operators, and power suppliers. The startup’s cloud-based system enables… Read more »
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Tesla delivers first 4 of 100 Model 3s to German EV rental company
German EV rental company nextmove, Tesla’s largest customer in Germany, plans to add 100 Model 3s to its fleet this year. The company recently took delivery of the first four units of the new sedan (the Performance version) at Tesla’s facility in Berlin. nextmove’s mission is to make EVs accessible to as many people as… Read more »
Global automakers planning to invest over $300 billion in electrification
Global automakers are planning an unprecedented level of investment to develop electrified vehicles and procure batteries over the next five to 10 years, according to a Reuters analysis of public data. Carmakers have announced plans to spend at least $300 billion on electrification projects. The lion’s share – some $136 billion – will be directed… Read more »
TEPCO Ventures invests $2.5 million in V2G provider Fermata Energy
Fermata Energy, a provider of vehicle-to-grid (V2G) technology, has secured a $2.5-million strategic investment from TEPCO Ventures, the investment arm of Tokyo Electric Power. Fermata’s bi-directional chargers enable EV batteries to provide energy storage to the power grid, reducing power loads during peak times and consequently reducing electricity costs. Fermata Energy’s proprietary software system is… Read more »
Tesla cuts workforce by 7 percent, warns of “very difficult” road ahead
Tesla announced that it will cut around 3,000 jobs – some 7 percent of its workforce – as it struggles to bring Model 3 prices down to an affordable, mass-market level. Elon Musk said the company did manage to squeeze out a profit in the final quarter of 2018, but warned that the “road ahead… Read more »
PlugStar aims to break the EV dealership deadlock
As anyone who follows the EV scene has surely noticed, auto dealerships are widely considered to be a major bottleneck on the road to EV adoption. Sales staff tend to be poorly informed about plug-in vehicles, and many dealerships make little effort to present them to buyers as an option. In the worst cases, salespeople… Read more »
Formula E begins season 5 with a new car and more powerful battery pack
The fifth season of the FIA Formula E Championship electric racing series got under way last week in Ad Diriyah, Saudi Arabia. Antonio Felix da Costa, driving for BMW i Andretti Motorsport, took the checkered flag – his second Formula E win. This season will consist of 13 races in 12 cities on 5 continents,… Read more »
Keeping federal EV tax credit alive a tough sell for GM as it lays off workers and closes factories
General Motors is fighting to retain the $7,500 federal tax credit for plug-in vehicle purchases, but the company’s recently announced layoffs and plant closings may make it a tough sell in Washington. As GM nears the 200,000-vehicle cutoff point after which the tax credit will be phased out, the incentive’s very existence is uncertain. One… Read more »
Renault’s Alliance Ventures invests in California battery maker Enevate
Alliance Ventures, the venture capital arm of Renault-Nissan-Mitsubishi, has joined heavyweights LG Chem and Samsung in investing in Enevate, a battery technology company based in Irvine, California. Enevate licenses its HD-Energy technology, which is designed to offer fast charging times, superior low-temperature operation and low cost, to various battery and EV manufacturers and suppliers worldwide…. Read more »
Duke Energy pilot supports charging infrastructure in South Carolina
Duke Energy has proposed a three-year, $10.4-million pilot initiative to support the installation of charging stations in South Carolina. The pilot is comprised of four programs with the overarching goal of understanding the impact increased EV adoption will have on the electrical grid: Residential EV Charging Program – Provides rebates for up to 400 residential… Read more »
