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MagREEsource secures €5M in financing; opening first pilot magnet recycling facility in Grenoble

Green Car Congress

MagREEsource, a 2020 spin-off of the CNRS-Institut Néel that is commercializing processes for recycling rare-earth magnets and then remanufacturing new magnets from the recycled powders, has secured €5 million in financing and has opened its first pilot facility in Grenoble, with a capacity of 50 tons by 2023.

Financing 243
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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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Die some other year: Hengchi 5 resumed manufacturing within the Tianjin plant

Baua Electric

On Would possibly 30, native media reported that Hengchi Automotive resumed manufacturing of its best style – the electrical SUV Hengchi 5 within the Tianjin manufacturing unit. Hengchi 5 manufacturing used to be suspended extreme hour on April 25. Hengchi 5 had a folk debut at Shanghai Auto Display in 2020.

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

Green Car Congress

The construction phase is planned for 2020 to 2022. In summer 2018, the 50:50 joint venture agreement was signed in Berlin in the presence of Chinese Premier Li Keqiang and German Chancellor Angela Merkel. Jiangsu is also one of the leading provinces for finance, education and technology.

Mini E 259
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Financially troubled Enovate reportedly close to getting life-saving money

CN EV Post

Image from Enovate's Weibo) Enovate Motors, the Chinese new energy vehicle (NEV) startup that announced late last year that it would build a production base in Saudi Arabia, is actually facing financial woes in its home market. In September 2020, the company's first model, the all-electric SUV Enovate ME7, was launched.

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China publishes plan to boost fuel-efficient and new energy vehicles and domestic auto industry; targeting 500K PHEVs and EVs in 2015, rising to 2M by 2020

Green Car Congress

The central government’s plan, posted on its website, is targeting the production of 500,000 plug-in hybrid and electric vehicles by 2015, with output to grow to 2 million units of those types by 2020. 2012 Chinese Auto Industry Development Report. By 2020, average passenger car fuel consumption is to drop to 5.0 L/100km (52.3

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Volkswagen Group to invest ~€60B in hybridization, electric mobility and digitalization over next 5 years; ~€33B on electromobility

Green Car Congress

Planned investments and development costs for future areas such as hybridization, electric mobility and digitalization will total roughly EUR 60 billion between 2020 and 2024 Share of planned spend for future topics increased in Planning Round 68 to approximately 40 percent from approximately 30 percent in the previous Planning Round.

Hybrid 191