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Nikola announces $200M convertible senior notes investment; approx. $1B cash and liquidity position

Green Car Congress

Nikola Corporation announced that an institutional investor has agreed to make a $200-million investment in Nikola through the purchase of Convertible Senior Notes. Funds advised by Antara Capital LP have agreed to purchase $200 million aggregate amount of 8.00% / 11.00% Convertible Senior Notes due 2026.

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Adamas: China rare earth consumption for catalytic converters down on weak passenger vehicle production

Green Car Congress

Adamas Intelligence reports that according to the Association of China Rare Earth Industry (ACREI), China’s domestic manufacturers produced approximately 7.6 Rare earth consumption by oil refining industry up just 2% on back of slowing vehicle sales and ongoing electrification of transportation.

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US Steel and CarbonFree sign MoU to capture CO2 at Gary Works

Green Car Congress

United States Steel Corporation and CarbonFree Chemicals Holdings, LLC (CarbonFree) recently signed a non-binding Memorandum of Understanding (MoU) jointly to pursue the capture of CO 2 emissions generated from US Steel’s Gary Works manufacturing plant using CarbonFree’s SkyCycle technology.

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Valeo to form transmission JV with S. Korean partner Pyeong Hwa Group; torque converters and CVTs; boosting sales to Hyundai-Kia

Green Car Congress

The partners intend for Valeo-Kapec to become the world leader in torque converters and CVTs. It is contemplated that the Joint-Venture will generate around €1 billion sales on an annual basis and will be accretive to Valeo’s operating margin for its first fiscal year.

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Volkswagen Virtus Convertible unveiled in Brazil as a one-off model

Baua Electric

Read more The one-off Volkswagen Virtus Convertible was built to mark Brazilian President Luiz Inacio Lula da Silva’s visit to the Sao Bernardo do Campo (SP) manufacturing facility The Volkswagen Virtus Cabrio has been revealed in Brazil as a special one-off project by Volkswagen Brazil. The model draws power from the 1.4-litre

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Indonesia converted 10 motorcycles to electric under pilot project

Electric Vehicles India

Indonesia converted 10 motorcycles to electric under pilot project . Indonesia has launched a pilot project to convert combustion engine motorcycles into electric vehicles as part of its national drive to make the transportation more eco-friendly said the energy ministry. million electric cars on the roads by 2030.

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Inflation Reduction Act mandates escalating battery critical mineral requirements to qualify for EV tax credit

Green Car Congress

Among the changes are an extension of the tax credit through 2032, the removal of the unit-sales cap of 200,000 per OEM, and a new mandate for qualified cars being assembled in North America. Beryllium which is converted to copper-beryllium master alloy, or purified to a minimum purity of 99% beryllium by mass. cobalt by mass.