The global auto industry’s shift to electric vehicles (EVs) has spurred an expansion race among battery makers, and caused a growing a skills shortage. Global sales of EVs, estimated at 2.5 million vehicles in 2020, is forecast to grow more than 12-fold to 31.1 million by 2030 and account for nearly a third of new […]
Ford announces $11.4 billion investment for electric vehicle production – EQ Mag Pro
This investment supports the company’s longer-term goal to create a sustainable American manufacturing ecosystem, and to accelerate its progress towards achieving carbon neutrality WASHINGTON : US car manufacturer Ford said Monday it plans to invest $11.4 billion in electric vehicle production, building four new plants that will create 11,000 new jobs by 2025. Together with […]
ARAI develops electric vehicle charger with indigenous technology – EQ Mag Pro
ARAI has recently signed MoU with Bharat Electronics Limited where ARAI will provide the know-how of the charges and Bharat Electronics will manufacture the chargers. The cost of the ARAI developed EV charger is expected to be in the range of ₹50,000-60,000. The Automotive Research Association of India (ARAI) has indigenously developed a charger for […]
Ford invests in electric vehicle battery recycling company – EQ Mag Pro
The Dearborn, Michigan, automaker will invest in Redwood Materials, a Nevada-based company founded by former Tesla executive JB Straubel. DEARBORN, Mich. : Ford Motor Co. is investing $50 million in an upstart electric vehicle battery recycling company as the automaker moves to shore up its U.S. battery supply chain. The Dearborn, Michigan, automaker will invest […]
Electric vehicle maker WardWizard to invest Rs 150 crore in next 6 months – EQ Mag Pro
Electric vehicle maker WardWizard Innovations & Mobility plans to invest Rs 150 crore in the business in the next six months as it looks to ramp up technology and infrastructure, among others, to meet the increased demand, a top company official has said. The Vadodra-based manufacturer sells its e-scooters and bikes under the ‘Joy e-bike’ […]
Surge in electric vehicle sales power lithium prices as shortages loom – EQ Mag Pro
More investment in lithium production is needed to meet future needs of the electric vehicle supply chain, analysts say LONDON: Lithium prices have jumped to their highest in more than three years thanks to an upsurge in electric vehicle sales, depleting stocks of the battery material in top consumer China. Targets to cut carbon emissions […]
Toyota to spend $13.5 bln to develop electric vehicle battery tech by 2030 – EQ Mag Pro
The world’s largest automaker by volume, which pioneered hybrid gasoline-electric vehicles with the popular Prius, is moving rapidly to deliver its first all-electric line-up next year TOKYO : Toyota Motor Corp said on Tuesday it expected to spend more than $13.5 billion by 2030 to develop batteries and its battery supply system, in a bid […]
China’s Xiaomi Completes Business Registration of Electric Vehicle Unit – EQ Mag Pro
The new unit, to be called Xiaomi EV Inc, opened with registered capital of 10 billion yuan ($1.55 billion) and Xiaomi CEO Lei Jun as its legal representative, Xiaomi said in a statement. Chinese smartphone giant Xiaomi Corp said on Wednesday it has completed the official business registration of its electric vehicle unit, marking the […]
In Electric Vehicle Push, Onsemi to Buy GT Advanced Technologies For $415 Mn – EQ Mag Pro
Phoenix-based Onsemi sells a range of silicon carbide chips that go into electric vehicles, but until the GTAT deal, it had sourced most of the raw wafers for those chips from outside suppliers. Onsemi said on Wednesday it would buy GT Advanced Technologies, a manufacturer of a key material used in chips for electric vehicles […]
PE-VC Funds in Electric Vehicle Sector Up 3X This Year
CHENNAI: The Indian electric vehicle (EV) sector has caught the eye of local and global investors. The surge in interest comes on the back of supportive government policies, increasing awareness of the importance of sustainability, and rising petrol prices. The year 2021 has already recorded 11 investment deals worth $519 million in the sector compared […]