article thumbnail

SoftBank to invest $2.25B in GM Cruise; GM to add $1.1B; driving large-scale AV deployment

Green Car Congress

We are very impressed by the advances made by the Cruise and GM teams, and are thrilled to help them lead a historic transformation of the automobile industry. equity stake in GM Cruise and will afford GM increased flexibility with respect to capital allocation. The SoftBank Vision Fund investment will be made in two tranches.

GM 210
article thumbnail

Tesla and Toyota to revisit old partnership for new EV development: report

Teslarati

Citing an official from the Japanese automobile industry, the Chosun Ilbo , one of South Korea’s largest newspapers, stated that the upcoming partnership between Tesla and Toyota would likely result in the development of a small electric SUV. The partnership has reportedly been under review since last year. .

Toyota 145
article thumbnail

Feature: Top 6 Reasons Why an EV Is the Right Choice

Clean Fleet Report

One of the reasons behind the drastic increase in sales was the more affordable price range of the Tesla Model 3, a best-seller in the U.S., Tesla’s Model 3 paved the way to powerful, affordable EVs. Electric Vehicles are Affordable. In 2019, the sales of electric vehicles totaled 1.1 Europe and China.

article thumbnail

Infineon and Hella develop new compact, lower-cost 24 GHz blind spot radar sensor

Green Car Congress

Hella’s radar system thereby becomes smaller, more affordable and it consumes less power. The HELLA Group develops and manufactures components and systems in lighting technology and electronic products for the automobile industry and has one of the largest retail organizations for vehicle parts, accessories and diagnostics in Europe.

article thumbnail

Dutch companies form European Thermoplastic Automotive Composites consortium

Green Car Congress

These companies, each in their own area of expertise, play a leading role in the production and processing of fiber-reinforced thermoplastic composites, and have established a track record in the aerospace industry. The automotive industry is showing greatly increased interest in the industrial applications of light materials.

Companies 225
article thumbnail

EIA: China promoting both fuel efficiency and alternative-fuel vehicles to curb growing oil use

Green Car Congress

In its 12 th , and current, Five-Year Plan, the Chinese government also launched a new strategy to promote new energy vehicles (NEV; vehicles that are partially or fully powered by electricity) and to support its domestic automobile industry to mass-produce NEVs. China Electric (Battery) Fuel Efficiency Oil Policy'

article thumbnail

EU reaches compromise on 2035 new ICE vehicle ban

Teslarati

This fund is dedicated to helping households afford many carbon-reducing products, including new efficient heating and cooling systems, personal renewable energy systems, reduced emission mobility products (including electric vehicles), and more. Lawmakers also hope this will limit market speculation.