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XL Fleet going public via merger with SPAC Pivotal Investment Corporation II; expanding fleet portfolio to all-electric solutions

Green Car Congress

XL Fleet and Pivotal Investment Corporation II, a publicly traded special purpose acquisition company (SPAC), have recently entered into a definitive merger agreement. SPACs, which raise money through an IPO for the purpose of acquiring an existing company, have existed for decades, but have surged recently.

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Major companies with large fleets release new EV roadmap for car & truck manufacturers

Green Car Congress

Members of the Corporate Electric Vehicle Alliance presented top vehicle manufacturers, including Volvo, GM, Daimler and Toyota, with a roadmap for developing the types of electric vehicles that companies plan to acquire in the US over the next five years. —Sara Forni, director of clean vehicles at Ceres. Source: Ceres.

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Volvo Cars and Geely Auto to deepen collaboration; new combined powertrain company

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Companies to retain independent corporate structures. The collaboration will be overseen by a new governance model, supported by Geely Holding, the lead shareholder in both companies. Volvo Cars and Geely Auto confirmed the combination of their existing powertrain operations into a new standalone company.

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JR East, Hitachi and Toyota to develop hybrid hydrogen fuel cell railway vehicles; HYBARI

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East Japan Railway Company (JR East), Hitachi, Ltd., and Toyota Motor Corporation have entered into an agreement to collaborate on development of test railway vehicles equipped with hybrid systems that use hydrogen powered fuel cells and storage batteries as their source of electricity. Workings of the fuel cell hybrid system.

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Canadian company AK Motor International introduces new EV brand: Maple Majestic

Green Car Congress

Canada-based AK Motor International Corporation, an automotive intellectual property management company, is launching a new electric vehicle brand: Maple Majestic. Climate Friendly driving does not necessarily mean an SUV, says the company. AK Motor has also considered provisions for a hybrid version of the Maple Majestic EV.

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High-power battery company MOBIUS.energy secures $50M investment commitment from GEM

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MOBIUS.energy Corporation secured a $50-million investment commitment from GEM Global Yield LLC SCS, a $3.4-billion, MOBIUS has issued warrants to GEM, exercisable upon public listing, to purchase up to 3% of the common stock of the company. billion, Luxembourg-based private alternative investment group. —Eugene Choi, MOBIUS CEO.

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Rheinmetall books order for more than 500,000 hybrid vehicle engine blocks from SAIC

Green Car Congress

The Materials and Trade division of the tech enterprise Rheinmetall has booked a new order to produce engine blocks for a hybrid vehicle. The customer is Shanghai Automotive Industry Corporation (SAIC), China’s largest maker of automobiles, motorcycles and car parts. HASCO), a subsidiary of China’s SAIC group. KPSNC) in China.

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