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Li-ion battery-maker Farasis Energy raises $1B+ to accelerate global automotive battery manufacturing expansion

Green Car Congress

Farasis Energy, a global developer and manufacturer of lithium-ion cells, modules and large battery systems, recently completed C-round financing exceeding 1 Billion US dollars. The compay will use the capital raised to accelerate the expansion of its global automotive battery manufacturing infrastructure.

Li-ion 239
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POSCO begins construction of S Korea’s first lithium hydroxide plant

Green Car Congress

We will enhance our global competitiveness in lithium and other mineral resources and contribute to the development of domestic industries, including the secondary battery sector, by leading the localization of materials. The subsequent production of lithium hydroxide will take place in South Korea.

Argentina 369
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Porsche participates in Rimac’s €500M Series D round

Green Car Congress

The Stuttgart-based sports car manufacturer is participating in a Series D funding round by the Croatian automotive technology group Rimac Group. Porsche made its first investment in Rimac in 2018 and has successively increased its interest. The total volume of the round is €500 million, with Porsche investing an eight-figure sum.

Porsche 186
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Roskill: record cobalt deals in Q1 2018 show raw material procurement for Li-ion batteries revving up

Green Car Congress

At least 12 recorded lithium and six cobalt transactions have been closed between downstream manufacturers and mining companies since 2016, signalling a changing trend in procurement strategy. The year 2017 saw deals between Great Wall and Pilbara Minerals, and Ganfeng Lithium’s US$172-million financing of Lithium Americas.

Li-ion 150
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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

Green Car Congress

IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 These forecasts are informed by the latest IHS Markit global economic forecast updates, which reflect a 3.0% decline in global real GDP in 2020.

2020 191
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Rio Tinto launches START: the first sustainability label for aluminum using blockchain technology

Green Car Congress

The START sustainability label is now available for aluminum purchased from Rio Tinto’s managed operations globally. It has helped to pioneer responsible production standards for the global industry as a founding member of the Aluminum Stewardship Initiative (ASI), becoming the first producer to offer ASI Aluminum in 2018.

Purchase 365
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Electric Vehicle Spotlight: Financing Rivian R1S

EV Life

American EV manufacturer Rivian Automotive initially unveiled a prototype of its futuristic all-electric SUV—the R1S—at the Los Angeles Auto Show in November 2018. After battling supply chain issues due to the global pandemic, Rivian finally began fulfilling orders for the R1S in August 2022.