article thumbnail

EC approves second major battery innovation project; €2.9B (US$3.5B) from 12 member states

Green Car Congress

The European Commission has approved , under EU State aid rules, a second Important Project of Common European Interest (IPCEI) to support research and innovation in the battery value chain. The project complements the first IPCEI in the battery value chain that the Commission approved in December 2019 with €3.2 billion (US$3.5

Batteries 482
article thumbnail

BMW, Croatia’s Rimac partner on high-voltage EV battery technology – ET Auto

Baua Electric

BMW and Croatia’s Rimac have agreed to partner on high-voltage electric vehicle battery technology , they said on Tuesday, a European tie-up aimed at challenging Asian dominance in the field. The German carmaker hit an all-electric sales share of 15% last year and has said it expects that figure to reach 50% well before 2030.

BMW 40
article thumbnail

Europe’s auto suppliers reach the end of the road – ET Auto

Baua Electric

Production of the car component at the town of Gifhorn will end in 2027 and move to Croatia, the Czech Republic and Wales to keep the costs “competitive”, according to Continental, which will cut about 7,000 jobs worldwide. Another 100 could find a home at a nearby Siemens mobility plant that supplies rail companies.

Auto 52
article thumbnail

Rimac secures $537m in new investment round with Goldman Sachs, Softbank

Teslarati

According to Mate Rimac, the company will make everything from EV battery systems and PHEV systems to rolling chassis. What do you think of the article? Ultimately, Mate has stated the goal of producing these parts in the thousands, unlike the more limited-run production work done in the other subsidiaries of Rimac Group.

article thumbnail

Rimac Nevera all-electric hypercar revealed

Electric Vehicles India

It is designed, engineered and handcrafted in-house at Rimac’s headquarters in Croatia (Europe). According to Rimac, the name is derived from a Mediterranean storm that can appear suddenly off the coast of Croatia. It has an H shaped battery pack that helps to keep the centre of gravity low.