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Nikola Corporation to Acquire Battery Pack Company Romeo Power

Electric Cars Report

Nikola Corporation and Romeo Power have entered into a definitive agreement in which Nikola will acquire the battery supplier in an all-stock transaction. The proposed exchange ratio implies a consideration of $0.74 The proposed exchange ratio implies a consideration of $0.74

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Northvolt gets $400 million from Investment Management Corporation of Ontario

Electric Cars Report

The Investment Management Corporation of Ontario (“IMCO”) is investing US$400 million in Swedish battery cell manufacturer Northvolt. The funds will enable Northvolt’s planned expansion, aligned with IMCO and the Company’s commitment to a deeply sustainable battery supply chain.

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Hyundai, Kia partner with Exide Energy Solutions for EV Battery Localization in India

Electric Cars Report

Hyundai Motor Company and Kia Corporation signed a Memorandum of Understanding (MOU) for strategic cooperation with Exide Energy Solutions, a leading Indian battery company, as part of their electric vehicle expansion plans.

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Toyota Strengthens Battery Production Capabilities

Electric Cars Report

Toyota Motor Corporation (TMC) has agreed with Panasonic Holdings Corporation (Panasonic HD) to make Primearth EV Energy Co., PEVE) a wholly owned subsidiary in order to strengthen its capabilities in mass-producing automotive batteries. The acquisition is scheduled to take place in late March.

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Stellantis Ventures Invests in Tiamat and Affordable Sodium-Ion Battery Technology

Electric Cars Report

Stellantis Ventures, the corporate venture fund of Stellantis N.V., announced its participation as a strategic investor in Tiamat, a France-based company that is developing and commercializing sodium-ion battery technology. Sodium-ion technology offers a lower cost per kilowatt-hour and is free of lithium and cobalt.

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Panasonic explores EV battery partnership with Mazda

Electric Cars Report

Panasonic Energy and Mazda Motor Corporation announced that they have agreed to enter into discussions on establishing a medium- to long-term partnership to meet demand for battery EVs and automotive batteries in a rapidly expanding market.

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Toshiba Develops New Li-Ion Battery with Cobalt-Free 5V Class High-Potential Cathode

Electric Cars Report

Toshiba Corporation has developed a new lithium-ion battery using a cobalt-free 5V-class high-potential cathode material that significantly suppresses performance-degrading gases produced as side reactions. This battery can operate at a wide range of applications, from power tools to electric vehicles.

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