Honda Announces $15B Investment in Four Ontario EV Plants
Tokyo-based Honda Motor Co. will invest C$15 billion in four new electric vehicle assembly and battery manufacturing plants in Ontario, Prime Minister Justin Trudeau and Premier Doug Ford announced Thursday. Trudeau called the deal the “largest investment in Canada’s history,”…
Honda to Build $11 billion EV hub in Canada
Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a “comprehensive EV value chain,” the Japanese automaker announced Thursday. The company said the new North American electric vehicle epicenter will include new…
Wallbox Selected for $5.2 Million 48C Tax Credit by the U.S. DOE and IRS For Investments in Arlington Factory
Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging solutions, today announced that it has been allocated a $5.2 million tax credit under the highly competitive 48C Qualifying Advanced Energy Tax Credit Program by the U.S. Department of…
Carrar Raises $5.3 Million to Deliver Commercial Battery Modules for EVs that Triple Battery Lifetime
Carrar, a provider of battery modules and thermal management systems for electric vehicles (EVs), today announced the closing of its $5.3 million Series A funding round to deliver commercial automotive-grade battery modules for electric vehicles with novel internal thermal management…
EV Realty, GreenPoint Invest $200M in Truck Charging
EV Realty, a commercial vehicle charging provider, is forming a $200 million joint venture with private equity firm GreenPoint Partners to develop charging hubs for medium- and heavy-duty vehicles. They join a growing number of firms pouring cash into topping…
CMA CGM Joins Renault and Volvo in Flexis Electric Truck JV
CMA CGM has joined the Flexis electric light van manufacturing joint-venture, formed between carmakers Renault and Volvo last month. The French container shipping line announced this morning it had invested €120m in Flexis SAS to acquire a 10% stake in…
U.S. Electric Vehicle Investments Have Grown to $188 Billion, Almost 200,000 Jobs
A year and a half after the passage of the Inflation Reduction Act (IRA) accelerated the U.S. markets for electric vehicle and battery manufacturing, a new report by Environmental Defense Fund and WSP USA finds continued strong growth. The report,…
IM Motors Raises US$1.1 Billion in One of China EV Brands’ Biggest Recent Deals
IM MOTORS, a premium electric vehicle brand of state-owned Chinese automaker SAIC, said on Friday (Mar 1) it has raised more than US$1.1 billion to work on new smart car models and technologies. IM Motors’ Series B round of equity…
US Offers $710 Million in Loans for EV Technology Projects
The U.S. Energy Department said on Thursday it gave preliminary approval for nearly $710 million in loans to electric vehicle (EV) technology manufacturing ventures, although the Biden administration still has $221.8 billion in loan capacity to fund clean-energy projects. Jigar…
Europe Moves to End Reliance on China EVs With €4.4bn Factory Plans
Two of Europe’s largest car makers Stellantis and Mercedes-Benz have raised about €4.4 billion to set up three new electric vehicle (EV) gigafactories across the European Union (EU) in the coming years. The companies said in a press release on…
