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NIO launches Battery as a Service (BaaS) in China; battery swap system

Green Car Congress

NIO BaaS users can purchase a car without the battery, making EVs more price competitive against existing powertrains, while also providing the flexibility to change battery capacity depending on their needs and pay accordingly. and Guotai Junan International Holdings Ltd., Weineng Wuhan Battery Asset Co.,

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Electrovaya completes C$5M financing; new Office of Chairman

Green Car Congress

completed a financing for C$5 million (US$4.96 note in the aggregate principal amount of C$5 million and 500,000 common share purchase warrants. Each share purchase warrant is convertible into one common share of the corporation. Each share purchase warrant is convertible into one common share of the corporation.

Financing 218
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Workhorse receives purchase order from Pride Group Enterprises for 6,320 C-Series electric delivery vehicles

Green Car Congress

Workhorse Group has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. Inventory financing for that deal is also being provided by Hitachi Capital America. 75 MPH (Limited).

Purchase 243
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NRG invests additional $35M in FuelCell Energy for 6% of company; establishes $40M financing facility

Green Car Congress

FuelCell Energy intends to use the net proceeds from the offering for project development, project finance, working capital support and general corporate purposes. The terms of the equity transaction include a warrant giving NRG the right to purchase an additional 2.0 per annum for construction-period financing and 8.0%

Financing 244
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Opposed-piston engine company Achates Power raises $35.2M in Series C Financing; new industry advisory board

Green Car Congress

million in Series C financing. The Series C financing follows a $19-million Series B round in 2009 and brings the total raised by Achates Power to nearly $90 million since its 2004 founding. overseeing all powertrain technologies, as well as the 2014 Society of Automotive Engineers (SAE International) presidential nominee.

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Argonne study finds BEVs can have lowest scheduled maintenance costs, but highest cost of driving

Green Car Congress

The study considers five different powertrains (internal combustion engine, hybrid-electric, plug-in hybrid-electric, fuel-cell-electric, and battery-electric) and 12 cost components (purchase cost, depreciation, financing, fuel, insurance, maintenance, repair, taxes, registration fees, tolls and parking, payload capacity and labor).

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Koenigsegg Group AB Terminates Agreement For Purchase of Saab

Green Car Congress

Koenigsegg Group AB has terminated the agreement for its proposed purchase of GM’s Saab. We’re obviously very disappointed with the decision to pull out of the Saab purchase. GM and Koenigsegg had signed a stock purchase agreement regarding the sale of 100% of the shares of Saab Automobile AB in August. Earlier post.)

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