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Volkswagen Group, Siemens invests $450M in Electrify America

Green Car Congress

The Volkswagen Group and Siemens are investing $450 million in Electrify America, with a post-money valuation of $2.45 Through its financing arm Siemens Financial Services (SFS), Siemens becomes a minority shareholder in Electrify America with a low triple-digit million USD investment and will hold a seat on the board.

America 397
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Volkswagen Group investing $700M in XPENG for 5% stake, VW EV development; Audi jointly developing EVs with SAIC

Green Car Congress

The Volkswagen Group is strengthening its position on the Chinese automotive market with cooperations between the VW brand and XPENG and between Audi and SAIC. The China-specific vehicles will supplement the MEB product portfolio and are to be rolled out in 2026 in China. This is subject to the conclusion of final agreements.

Audi 282
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NIO launches Battery as a Service (BaaS) in China; battery swap system

Green Car Congress

Premium EV manufacturer NIO has launched Battery as a Service (BaaS) for customers in China. With the battery price not included in the vehicle sales price, nor in the finance payments, the costs are significantly lower to switch to an EV. Limited, Hubei Science Technology Investment Group Co., NIO battery swap station.

China 508
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BMW Group to build future MINI E vehicles in China with Great Wall Motor

Green Car Congress

The BMW Group and Great Wall Motor have launched a new joint venture—Spotlight Automotive Limited—and are building a joint plant in China, where the BMW Group will produce future fully-electric models of its MINI brand. Jiangsu is also one of the leading provinces for finance, education and technology.

Mini E 259
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Hyundai Motor partners with regional firms to establish H2 fuel cell commercial vehicle ecosystem in China

Green Car Congress

Hyundai Motor Company is spearheading the development of a hydrogen fuel cell commercial vehicle ecosystem in China with regional partners. Hyundai believes China has a massive potential for hydrogen powered commercial vehicles. Hyundai believes China has a massive potential for hydrogen powered commercial vehicles.

Hyundai 356
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Baker Institute report: China has positioned itself as a gatekeeper to the energy transition; nickel case study

Green Car Congress

Widely ignored, although gaining attention, is China’s strategic positioning as a crucial gatekeeper to several key “green” technologies, including battery energy storage to support electric vehicles (EVs)—specifically, battery electric vehicles (BEVs)—along with stationary storage for power grids.

China 416
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Pinnacle Engines appoints Asian Business Advisory Board; closes Series C financing

Green Car Congress

Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Before Geely, Freeman was CEO of Fiat Powertrain China and President of China operations at BorgWarner Inc. Phil is also a member of Pinnacle’s Board of Directors.

Financing 291