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DOE announces $15.5B package primarily focused on retooling existing factories for EVs

Green Car Congress

This includes making available $2 billion in grants and up to $10 billion in loans to support automotive manufacturing conversion projects that retain high-quality jobs in communities that currently host these manufacturing facilities. Converting and Retrofitting America’s Manufacturing Plants.

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FreeWire Technologies raises $125M in Series D; battery-integrated ultrafast EV charging stations

Green Car Congress

FreeWire Technologies, a developer of ultrafast electric vehicle (EV) charging and energy management solutions, raised $125 million in new capital. The financing consists of a Senior Convertible Note provided exclusively by funds and accounts managed by BlackRock Financial Management, Inc.

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Lishen and ZAP in strategic alliance; funding for several thousand EV conversions in US

Green Car Congress

After undergoing multiple iterations, the latest version released for trial will undergo extreme weather conditions, using Lishen’s battery pack with improved energy efficiency and reliability. ZAP will begin financing discussions with fleet operators pending successful completion of the trial which is likely to run through the winter season.

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A123 Systems and Wanxiang execute definitive agreements for investment of up to $465M in A123

Green Car Congress

A123 Systems expects the full investment from Wanxiang will provide it with the capital necessary to strengthen its competitive position in the global vehicle electrification and grid energy storage markets. Further, Wanxiang has demonstrated its commitment to partnering with and investing in U.S. — David Vieau, CEO of A123.

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A123 Systems in non-binding MoU with Wanxiang for strategic investment of up to $450M; Wanxiang would own up to 80% of A123 common stock

Green Car Congress

Wanxiang’s proposed investment in A123 is intended to create the capital structure necessary for the company to continue growing its core businesses, and alignment with Wanxiang is also expected to substantially strengthen A123’s access to the growing vehicle electrification and grid-scale energy storage markets in China.

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Tata AutoComp’s ‘Make in India’ push for EVs | Autocar Professional

Baua Electric

In less than seven years, Tata AutoComp now produces battery packs and BMS, battery thermal management systems, electric compressors, integrated motors, controllers and reducers, on board and off board chargers, vehicle and power electronics like DC-DC converters, bus bars, PDUs and many more components for EVs.

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European Automotive Industry Outlines RD Priorities for EU Green Car Initiative

Green Car Congress

Under the Energy and Environment category, CLEPA and EUCAR call for a major focus on the electrification of the vehicle, including work on hybrid, plug-in, electric drive, hydrogen and fuel cell vehicles. Among the specified research needs in this particular area are: Energy storage systems.