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Porsche and UP.Labs to build startups tailored for Porsche’s business

Green Car Congress

Porsche is expanding its venturing network by collaborating with UP.Labs, a new model for fostering innovative startups. The startups’ focus will revolve around Porsche’s core activities. Porsche is investing a sum in the double-digit millions for this purpose. Porsche then has the option to integrate them into the organization.

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Porsche increases stake in electric sports car company Rimac to 15.5%

Green Car Congress

Porsche has increased its stake in technology and sports car company Rimac Automobili to 15.5%. In June 2018, the Stuttgart-based sports car manufacturer purchased a 10% stake in Rimac. Porsche is now strengthening the established partnership. Porsche has been supporting Rimac and its positive development for a year now.

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EV charging network builder Volta announces $125M in Series D funding

Green Car Congress

Volta, a builder of commerce-centric electric vehicle (EV) charging networks, announced an oversubscribed Series D financing of $125 million. Goldman Sachs acted as exclusive placement agent to the company in connection with the financing. It will also allow Volta to begin its international expansion.

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Malaysia wants EVs to be tax-free, duty-free to encourage consumers to buy

Teslarati

During his address to Parliament earlier this week, Malaysian finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz cited the reduction of pollutants and better air quality as the main indicators of why electric cars are a good idea. Electric vehicle initiative programs have been discussed before now.

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A mini industry spawns under the hood of a booming car market – ET Auto

Baua Electric

As per the company’s internal report, the market is poised to grow at a 15% CAGR in the said period. From Porsche to Mercedes-Benz in the luxury segment and from Maruti to Mahindra and numerous startups, all want a share of this growing market. With the used-car market still largely untapped, even the luxury carmakers are driving in.

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The tipping point is upon us

Electric Auto Association

Winners of the2021 EV Cannonball with their Porsche Taycan. hours in an Internal Combustion Engine (ICE) vehicle. The current “king” is the Porsche Taycan with a Drivability Factor of ~9. Admittedly, the Porsche is an aspirational vehicle that is out of reach for many. I became a grandfather today.

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Volkswagen Group and ride-hailing provider Gett to expand on-demand mobility solutions & activities in Europe

Green Car Congress

Volkswagen intends for its global presence to help accelerate the pace and strength of Gett’s international business. Special package offers will conveniently pool various costs such as purchase or finance as well as the necessary insurance and servicing.

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