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Better Place, a developer and provider of electric car networks—including battery switch stations, batteries and public/personal charge spots ( earlier post )—worldwide, has secured $200 million through a Series C equity financing from a consortium of top-tier investors and partners, nearly doubling the company’s valuation to $2.25
In response to critiques of the first version of its financing program introduced early in April ( earlier post ), Tesla Motors has raised the Model S resale value guarantee to be the highest of any premium sedan brand made in volume (excludes rare, low volume or limited edition vehicles). —Tesla Co-founder & CEO Elon Musk.
and Saab Automobile AB (Saab Automobile) have signed an agreement with Hawtai Motor Group Company Limited (Hawtai). —Victor Muller, CEO of Spyker and Chairman of Saab Automobile. Spyker Cars N.V. This agreement, which follows Spyker’s securing €59.1 —Richard Zhang, Vice President of Hawtai.
American Suzuki Motor Corporation (ASMC) has received court approval for Debtor-In-Possession (DIP) financing. As previously announced, ASMC is continuing to market and sell its remaining US automobile inventory through its national network of automotive dealers. Earlier post.)
Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. Catalytic Conversion: Cool Planet has developed a number of proprietary catalytic conversion processes to convert these useful hydrocarbon components into different types of fuels.
a federal mileage fee—as a way to reform financing of the US transportation infrastructure. The recommendation is part of the final report issued by the National Surface Transportation Infrastructure Financing Commission, “ Paying Our Way: A New Framework for Transportation Finance ”. The nation faces a crisis. Paying our Way”.
IFC, a member of the World Bank Group, and the largest global development institution focused exclusively on the private sector, together with the Westly Group, a venture capital firm based in Menlo Park, California, led the financing.
However, generally speaking, the government continued, China has not achieved a breakthrough with new energy automobiles and core components of the key technologies. Energy-saving and new energy vehicles have become the development direction of the international automobile industry. 2012 Chinese Auto Industry Development Report.
Via , a company that provides digital infrastructure to power public mobility in cities around the world ( earlier post ), has raised a Series E financing led by EXOR. The financing values the company at $2.25 billion and will enable Via to advance its vision of efficient, accessible, and equitable public mobility.
Fuel produced from the pilot plant has been fleet-tested in a blend formulation in several standard configuration automobiles. USDA’s loan commitment to Cool Planet is being financed from the remainder of the Biorefinery Assistance Program funds authorized in the 2008 Farm Bill. Earlier post.).
Public transport should also be the top priority for use of new energy automobiles in China, he said. While extolling new energy cars, Wan said promotion of public transportation would also help to ease the problems caused by expanding car ownership in China.
Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky. As the lead investor in Joby’s $590-million Series C financing, Toyota is continuing to leverage emerging technologies to provide "Mobility for All.". Joby’s eVTOL.
(BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. Koenigsegg Group will own 100% of SAAB Automobile AB. This is an important step on the road to a new SAAB Automobile. The intention is to conclude an agreement later this year. Earlier post.).
and Hawtai Motor Group Company Limited terminated the agreement by and between Hawtai, Spyker and Saab Automobile AB (Saab Automobile) with respect to funding and strategic partnership. Spyker and Saab Automobile continue to work on securing short- and medium-term funding. Spyker Cars N.V. Earlier post.)
GM and Koenigsegg had signed a stock purchase agreement regarding the sale of 100% of the shares of Saab Automobile AB in August. BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. —Fritz Henderson. Earlier post.) Earlier post.). Earlier post.).
Specifics on the finances are to be discussed by the German cabinet in the next legislature period in the fall. million units, according to the European Automobile Manufacturers’s Association. At present, around 500 million euros ($704 million) have been earmarked for research and development.
Smaller shares are held by the automobile groups Daimler AG and Volkswagen AG. The insolvency was brought about as the result of financing difficulties associated with the commissioning of the synthetic-gas demonstration plant. (A A hat tip to John!).
At the same time, Audi is pushing forward with the digitalization of its automobiles and plants, and is expanding its business model with new digital services such as “functions on demand”. In order to finance its course for the future from its own resources, the company is systematically rolling out the Audi Transformation Plan.
Tata Motors, India’s leading automobile manufacturer, launched the newest member of its EV family this past week: the Tiago.ev. Tata is offering special introductory prices starting INR 8.49 Equipped with a permanent magnet synchronous motor, Tiago.ev delivers a peak output of 55 kW and full torque delivery of 114 N·m.
In view of the dynamic development of the Chinese automobile market, Volkswagen has added €1.6 Growth in the Chinese automobile market has exceeded everyone's expectations”. billion (US$2.1 billion) to its current investment program for China. Among other things, the additional funds are to be used for facilities at two new locations.
There was a $1-billion initial public offering by NIO, a $585-million Series C venture capital round by Guangzhou Xiaopeng Motors and a $294-million pre-IPO round by Zhejiang Dianka Automobile. Looking at the third-quarter global investment figures by type, asset finance of utility-scale renewable energy projects came to $49.3
Japan currently has laws for mandatory recycling of large appliances and automobiles; however, there are no rules for recycling mobile phones and other such devices, which contain relatively large amounts of rare metals. Lithium, indium, manganese and platinum are among the 13 rare metals that the government hopes to recover.
Bugatti Automobiles S.A.S. —Lutz Meschke, Member of the Executive Board for Finance. Oliver Blume and Lutz Meschke (Deputy Chairman and Member of the Executive Board for Finance and IT at Porsche AG) will become members of the Supervisory Board at Bugatti-Rimac. will continue to exist in the new joint venture.
The new station and the large number of FCEVs (Fuel Cell Electric Vehicles) result from the largest EU-financed demonstration program for hydrogen and fuel cell cars. But since alternative drives require alternative infrastructures, we work closely together with partners from governments, energy providers and several automobile manufacturers.
Toyota Research Institute (TRI) is investing an initial $100 million to launch Toyota AI Ventures , a new corporate venture capital subsidiary designed to provide early-stage financing to startup technology companies. TRI participated in Nauto’s $12M Series A financing in August 2016.
and Finnish automobile engineering and manufacturing concern Valmet Automotive, Inc. Ener1 and Valmet were the senior secured creditors of Think when the company filed for bankruptcy after failing to raise adequate capital to continue financing operations. Earlier post.). to cooperate in relaunching Think.
Under the terms of the MassCEC financing, A123 will double its Massachusetts employment to more than 500 by 2014. The company anticipates making $80 million in capital expenditures in Massachusetts to build up its manufacturing and R&D capabilities there by the end of 2014.
The Financial Times reports that a US-led consortium, fronted by Michael Dingman, a former Ford director and Shamel Rushwin, a former executive at Ford and Chrysler, is challenging China’s Geely Automobile to buy Volvo Cars from Ford.
million automobiles were sold in the United States in 2019, of which only about 245,000 were battery-powered electric vehicles, researchers said. With the major automakers promising new EV models, Bloomberg New Energy Finance predicts that 500 different EV models will be available globally by 2022. billion developing the Chevy Volt.
The company designs, engineers, manufactures and sells electric power steering, hydraulic power steering, steering columns and driveline halfshafts for more than 60 automobile manufacturers and tier one suppliers. Nexteer Automotive is a global provider of advanced steering and related technology. Headquartered in Saginaw, Mich.,
Standard automobile and small engines can run on biobutanol blended into gasoline at any ratio, according to Gevo. Gevo Development, LLC will be managed by Mike Slaney and David Black who have significant experience in the financing, acquisition and operation of ethanol facilities.
Establishing a new program to finance planning, design, and construction of high-speed rail. The existing transportation reauthorization act, which is financed by the Highway Trust Fund, expires on 30 September 2009. The current user fees generate only enough revenue to finance a $35.1 Highway account balance. Source: DOT.
—Bodo Uebber, Member of the Board of Management of Daimler AG for Finance & Controlling and Financial Services. In 2014, Mercedes-Benz sold more automobiles with hybrid drive than all other German manufacturers combined, although far less than Toyota, which currently has about 80% hybrid share in Europe.
Francois joins the Company from Fiat Group Automobiles where he serves as head of the Lancia Brand, a position he retains. He will continue to lead these functions within Fiat Group Automobiles. His career has included positions in product planning, marketing, business strategy, and finance. Francois joined Fiat in 2005.
The station is large enough to simultaneously serve 12 automobiles. The Hexie charging station is equipped with 3 express chargers and can accommodate 6 automobiles. The station, with an investment of 10.52 million yuan [US$41.5
Guangzhou Automobile Group Co., —a partnership between Chery Automobile, China’s largest independent car manufacturer, and Israel Corporation—is bringing its Cross Hybrid Concept to the Geneva Motor Show in March. Guangzhou Automobile Group. Qoros Auto Co. Power consumption in electric mode is 11.8 Qoros Auto Co.
The technology will be especially effective in vehicles, where physical damage can occur in automobile accidents and other mechanical events. Soteria BIG is dedicated to eliminating lithium-ion battery fires.
Thermoelectric material developer GMZ Energy ( earlier post ) has secured $14 million in Series C financing. The new investment was led by Mitsui Ventures and includes I2BF Global Ventures, Energy Technology Ventures (a joint venture of GE, NRG Energy and ConocoPhillips), Kleiner Perkins Caufield & Byers and BP Alternative Energy.
per cent, Porsche continues to be among the most profitable automobile manufacturers in the world. —Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT. With a profit margin of 17.6
Gas flaring emits 400 million metric tons of CO 2 annually, the same as 77 million automobiles, without producing useful heat or electricity. Expand access to financing. This is an amount equivalent to 30% of consumption in the European Union and 23% in the United States. GE Energy Flare Gas Reduction Study.
DiDi’s autonomous driving business is working with Xiaoju Automobile Solutions, DiDi’s one-stop auto solutions platform, and DiDi Finance to explore next-generation integrated mobility solutions, including smart charging networks, fleet maintenance service, as well as insurance programs for autonomous fleets.
The uptick in New Jersey sales is over twice as robust as already strong national sales: For the first half of 2017, US consumers bought 38% more plug-in electric vehicles than in the same period in 2016, even though automobile sales are down overall.
The Philippine Bio-fuel Act, enacted in February 2009, requires that gasoline produced for automobile fuel contain a minimum 5% ethanol by volume, today, and 10% starting in 2011. Start of ethanol production and electricity supply is slated for February 2012. However, the locally-produced volume falls far short of demand.
Spirit Avert AG is seeking to raise CHF166 million (US$152 million) in financing to serve as the capital for mindset AG and its planned production of the E-Motion extended range electric vehicle for the European market. The initial production target is 10,000 units per year. The Mindset E-Motion. Click to enlarge.
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