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Hyundai Motor and Kia revamp R&D organization to make it more agile, flexible and independent like startups

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Hyundai Motor Company and Kia Corporation are reorganizing their joint research and development (R&D) organization to be able to respond flexibly to the rapidly changing global automotive industry, advance the transition to electrification and accelerate the development of Software Defined Vehicles (SDVs).

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NYK Line invests in waste-to-biofuel company

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which has developed its own integrated subcritical-water organic-waste power-generation system (ISOP) system, which decomposes organic substances using subcritical-water-treating technology and ultimately produces green energy products such as biofuels. NYK Line has invested in Japan-based Sustainable Energy Co.

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Direct lithium extraction company EnergyX secures $20M in funding commitments

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Direct lithium extraction (DLE) technology company Energy Exploration Technologies Inc. The company said that the funding makes it the highest-valued direct lithium extraction technology company on the market. EnergyX) has secured commitments of $20 million in financing. Source: EnergyX.

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Ford, LG Energy Solution, Koç Holding to form JV to build battery gigafactory in Turkey

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Ford Motor Company, LG Energy Solution and Koç Holding signed a non-binding memorandum of understanding (MoU) to form a new joint venture subject to final agreement by all the parties to create one of Europe’s largest commercial electric vehicle battery cell facilities near Ankara, Turkey. Earlier post.)

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Volvo Penta, TICO complete build of prototype electric terminal tractor

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Volvo Penta and TICO have completed the build of the first terminal tractor prototypes powered by Volvo Penta’s electric driveline. The Volvo Group recently announced its ambition to be a net-zero emissions company by 2050, at the latest. TICO will build a series of prototypes in close collaboration with Volvo Penta. Next steps.

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NTT DATA and DENSO building industry-wide dataspace for EV batteries

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NTT DATA Corporation and DENSO Corporation have started to build an industry-wide ecosystem for electric vehicle (EV) batteries to create a global trusted dataspaces where only necessary data can be shared, while also protecting private data. The two companies were officially approved as business operators in September 2022.

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Haldor Topsoe establishes focused green hydrogen organization to accelerate electrolysis business

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Haldor Topsoe is determined to take a leading position in the green hydrogen space, and has established a focused green hydrogen organization to accelerate its business. The new organization will leverage Topsoe’s insights into solid oxide electrolysis. —Roeland Baan, CEO at Topsoe.