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Hyundai Motor and LG Energy Solution to establish 50:50 $4.3B battery cell manufacturing JV in US

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Hyundai Motor Group and LG Energy Solution (LGES) announced an EV battery cell manufacturing joint venture in the US. Hyundai Motor Group and LGES signed a memorandum of understanding to produce EV batteries in the US. Hyundai and LGES will each hold a 50% stake in the JV, which will involve an investment of more than US$4.3

Hyundai 304
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Hyundai Motor targeting 7% of global EV market by 2030; 1.87M BEVs

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In Seoul, Hyundai Motor Company unveiled a strategic roadmap to accelerate its electrification ambition as it pursues sustainable progress for the company. The company also unveiled targets for sales and financial performance to be achieved by 2030. The company earmarked KRW 95.5

Hyundai 370
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Electric motor company YASA enters innovation agreement with global automotive manufacturer for hybrids and EVs

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YASA, a leading manufacturer of axial-flux electric motors and controllers, signed a long-term joint innovation agreement with a global automotive OEM. The partnership will focus on developing custom electric motor and controller solutions for the OEM’s high-performance hybrid and pure electric vehicles. Earlier post.).

Motor 324
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EVR Motors partners with EKA Mobility to provide advanced lightweight electric motors for e-buses and Light Commercial Vehicles in India

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Israeli startup EVR Motors has partnered with India’s EKA Mobility, an electric vehicles and technology company, a subsidiary of Pinnacle Industries Limited, to design small, lightweight electric motors for their e-buses and Light Commercial Vehicles (LCVs) in India. EVR will support the setup of EKA’s assembly line.

India 417
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Renault Group takes 21% stake in axial flux e-motor company Whylot

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Renault Group has acquired a 21% minority stake in Whylot , a company based in the Lot region of France that has developed an innovative axial flux automotive e-motor. This acquisition of a stake in the French start-up reinforces the existing strategic partnership between the two companies. Whylot axial flux motor.

Motor 243
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IDTechEx: motors with oil cooling became the dominant form in the electric car market in 1H 2022

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In the first half of 2022, motors with oil cooling became the dominant form in the electric car market, taking 50% market share, according to a report from IDTechEx. IDTechEx is predicting oil to gain an even greater market share with purely water jacket-cooled motors remaining in a significant way.

Oil 273
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Aisin developing ultrahigh-efficiency EV motor with Tohoku Magnet Institute

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Aisin Corporation is developing an ultrahigh-efficiency motor using NANOMET jointly with Tohoku Magnet Institute (TMI), in which Aisin invested in June last year. TMI’s strengths lie in research and development of optimal compositions for motors and technological development of optimal foil manufacturing.

Motor 397