Volvo Cars raises €500M for electrification through second green bond issue

Volvo Cars successfully placed its second green bond to raise €500 million from a diverse set of global investors. The bond was oversubscribed three-times, despite challenging global market conditions. All proceeds are earmarked for funding and accelerating the company’s transformation towards becoming a fully electric carmaker by 2030 and becoming... Read more →


The BMW Group will open its Cell Manufacturing Competence Center (CCMC) in the fall. With the emmission control approval procedure now completed, the necessary conditions are in place for commissioning of near-standard production of lithium-ion battery cells at the competence center in Parsdorf, outside of Munich. In an area spanning... Read more →


Daimler Truck acquires ~10% stake in machinery manufacturer Manz; pilot line for battery cells and battery assembly

Daimler Truck AG will become a major anchor shareholder in German high-tech engineering company Manz AG through a capital increase of around 10%, subject to approval by the relevant antitrust authorities. In addition, in a first step both companies have signed a cooperation agreement on a strategic partnership to establish... Read more →


Hyundai Motor Group to invest more than $10B in US by 2025

Hyundai Motor Group (HMG) reaffirmed its commitment to expand investment in the US to further its goal to provide sustainable and smart mobility solutions to its US. The Group’s plans, which involve an investment of more than US$10 billion, are designed to accelerate innovation and mobility electrification. Last week, Hyundai... Read more →


Volkswagen is expanding its global production network for electric vehicles by now starting to make the all-electric ID.4 in Emden. Emden is now the second site for electric vehicles in Germany following Zwickau and also joins the Chinese plants in Anting and Foshan. Chattanooga (ID.4) and Hanover will also commence... Read more →


Hyundai Motor Group (HMG) entered into an agreement with the State of Georgia to build its first dedicated full electric vehicle and battery manufacturing facilities in the US. The new EV plant and battery manufacturing facilities represent an investment of approximately US$5.54 billion. Non-affiliated Hyundai Motor Group suppliers will invest... Read more →


Indian SUV major Mahindra intends to equip its new EV platform with MEB components from Volkswagen

Volkswagen and Mahindra & Mahindra Ltd. (M&M) are exploring the use of MEB electric components for Mahindra’s new “Born Electric Platform”. Both signed a Partnering Agreement on 18 May to evaluate the scope of collaboration. Mahindra intends to equip its “Born Electric Platform” with MEB electric components such as electric... Read more →


ŠKODA AUTO has started manufacturing battery systems for all-electric vehicles based on the Volkswagen Group’s Modular Electrification Toolkit (MEB) in Mladá Boleslav. This makes the car manufacturer’s main plant the only production facility for MEB battery systems in Europe outside Germany. Around 250 employees will soon be assembling more than... Read more →


Mercedes-Benz to incorporate Sila’s Si anode chemistry in batteries for the electric G-Class; > 800 Wh/l on cell level

Mercedes-Benz will work with Sila, a next-generation battery materials company (earlier post), to incorporate Sila's silicon anode chemistry in batteries which are optionally available for the first time in the upcoming electric Mercedes-Benz G-Class. This will add another innovative cell chemistry to the Mercedes-Benz battery portfolio. The innovative high-silicon anode... Read more →


Renault Group signs agreements to sell Renault Russia and its controlling interest in AVTOVAZ; option to buy back in future

The Board of Directors of Renault Group unanimously approved the signing of agreements to sell 100% of Renault Group’s shares in Renault Russia to Moscow City entity and its 67.69% interest in AVTOVAZ to NAMI (the Central Research and Development Automobile and Engine Institute). The closing of these transactions is... Read more →


Urban Production is an international architecture competition organized by the BMW Group in close cooperation with the City of Munich. The aim is to realize outstanding, future-ready production in the urban setting of the company’s home plant in Munich. The competition has now finished successfully, with the two winning architects’... Read more →


Volkswagen Group will launch an all-electric pick-up and rugged SUV (“R-SUV”) in the United States. The decision of the Board of Management was confirmed by the Supervisory Board of the Volkswagen Group earlier this week. The vehicles will be designed, engineered, and manufactured in the US for American customers. To... Read more →


Daimler Buses aims to offer locally CO2-neutral vehicles based on batteries and hydrogen in every segment by 2030. The initial focus will be on the core markets of Europe and Latin America. By 2039, only locally CO2-neutral new vehicles are to be sold in the core market of Europe. In... Read more →


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

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. The Notes will bear... Read more →


BMW’s iFACTORY production strategy defines the future orientation of plants and production technologies at the BMW Group and meets the challenges of the transformation to e-mobility. Automotive manufacturing of the future requires a new, holistic way of thinking. With our BMW iFACTORY, we are leading the way and setting new... Read more →


Toyota’s Collaborative Safety Research Center (CSRC) introduced nine new projects being launched as part of the next phase of its automotive safety research, backed by the new five-year, $30-million commitment announced last year. The new research projects, announced during a virtual CSRC media event showcasing safer mobility, will examine the... Read more →


Kia revealed the Niro Plus, its first purpose-built vehicle (PBV). Kia is exploring diverse ways to help people and businesses move beyond traditional automotive, and the company expects its PBV models to be an important part of future mobility. The Kia Niro Plus will be deployed as a general model... Read more →


Ford has begun full production of F-150 Lightning electric pickup at the ultra-modern Rouge Electric Vehicle Center within Ford’s historic Rouge Complex. Ford has 200,000 reservations for the Lightning and is expanding the Rouge Electric Vehicle Center to ramp up production to a planned annual run rate of 150,000 in... Read more →


Toyota’s overall European electrified mix increased to 69% in Q1; market share climbs to high of 7.6%$

Toyota Motor Europe’s (TME) first quarter sales volume of 284,506 vehicles showed a marginal change of -1% year-on-year while outperforming the total market, which declined by -14%. Across the same period, TME achieved its best first-quarter market share of 7.6%, an increase of +1% point year-on-year. The strong demand for... Read more →


Faulty car windows often go in the recycling bin when the cracked part cannot be fixed. A closed material circuit does not yet exist for damaged car glass. This is where Audi and its partner companies Reiling Glas Recycling, Saint-Gobain Glass, and Saint-Gobain Sekurit are now doing pioneering work as... Read more →


Subaru of America, Inc. announced pricing on its first all-electric SUV, the 2023 Subaru Solterra (earlier post). The 2023 Solterra is offered in three trim levels, Premium, Limited, and Touring, and will begin arriving in limited numbers at Subaru retailers this summer. Pricing for the 2023 Solterra starts at $44,995... Read more →


Nissan announced a new driver-assistance technology, which is currently in-development, that utilizes highly accurate, real-time information about the vehicle’s surrounding environment to enhance collision avoidance significantly. At a Nissan facility in Yokohama, a test vehicle demonstrated how this technology can automatically perform collision-avoidance maneuvers. ProPILOT Concept Zero test vehicle Nissan’s... Read more →


Four key Hyundai Motor Group affiliates join Climate Group’s RE100, aim to expand renewables usage

Four key Hyundai Motor Group affiliate companies—Hyundai Motor Company (Hyundai Motor), Kia Corporation (Kia), Hyundai Mobis, and Hyundai Wia—are now members of Climate Group’s RE100, a global initiative committed to large corporates moving toward 100% renewable electricity. All four affiliates join more than 350 other global firms in the initiative,... Read more →


DOE, GM, Mathworks launch EcoCAR Electric Vehicle Challenge; 15 universities selected

The US Department of Energy (DOE), in coordination with General Motors (GM) and MathWorks, announced the launch of the EcoCAR Electric Vehicle (EV) Challenge, a collegiate research and experimental learning competition that challenges hundreds of students to engineer novel technologies for battery electric vehicles through a combined $6-million investment. GM... Read more →


Aston Martin announces Racing.Green. sustainability strategy

Aston Martin announced its new sustainability strategy, Racing.Green. Launched on Earth Day, Racing.Green. formalizes core principles, aligned with the UN Sustainable Development Goals, that reflect Aston Martin’s established approach to sustainability and sets new targets across all aspects of the business. The company is joining a list of companies committing... Read more →


Audi has unveiled plans for the Audi urbansphere concept car. Designers and engineers initially created the Audi urbansphere for use in traffic-dense Chinese megacities, although the concept is also suitable for any other metropolitan center in the world. In these urban areas, where personal space is in particularly short supply,... Read more →


The Lincoln Star Concept made its global debut, hinting at the brand’s design language for its future electric vehicles. By mid-decade, Lincoln plans to deliver three new fully electric vehicles, meaning that more than half of its global volume will be zero emissions vehicles, and it will add a fourth... Read more →


BMW unveiled the seventh generation of its 7 Series, including the first all-electric i7 XDrive60. (Earlier post.) Three models are available at launch, including the i7 EV. The 2023 BMW 740i is powered by a thoroughly upgraded version of the iconic B58 3-liter TwinPower Turbo inline six-cylinder engine. Now dubbed... Read more →


Lexus unveiled details of the all-new 2023 RZ 450e, the brand’s first global Battery EV (BEV). The 2023 Lexus RZ 450e is expected to go on sale towards the end of 2022. As Lexus’ first global BEV model, the all-new RZ marks Lexus’ transition into a BEV-centered brand (targeting 100%... Read more →


Toyota will invest $383 million in four of its US manufacturing plants—in Alabama, Kentucky, Missouri and Tennessee—to support the production of four-cylinder engines, including options for hybrid electric vehicles. Toyota customers want vehicles that are fuel-efficient and electrified. These investments allow us to meet customer needs and quickly respond to... Read more →


Australia-based Lithium developer Lake Resources has signed a non-binding Memorandum of Understanding (MoU) with Ford Motor Company for the offtake of approximately 25,000 tonnes per annum (tpa) of lithium from the Kachi Project. Kachi comprises 705 sq km of leases and lease applications over a brine-bearing basin 20km long, 15km... Read more →


Honda to focus on increasing hybrid volume with core models: CR-V, Accord and in the future, Civic; Insight production ends in June

As the next step in Honda’s electrification strategy in North America, the company will focus on increasing hybrid volume of core models: CR-V, Accord and, in the future, Civic. To make room for these moves, Honda will conclude Insight production in June. Honda will introduce all-new models of the CR-V... Read more →


Independent research into electric vehicle (EV) development has found that most automotive companies are more focused on improving electric car range and reducing costs than improving the vehicles’ carbon footprint, despite mounting scrutiny of their hidden environmental impacts. The research has been published by the Manufacturing Intelligence division of global... Read more →


VinFast and Electrify America announce charging agreement and mobile app integration for electric vehicles

At the New York International Auto Show (NYIAS 2022), VinFast and Electrify America announced an agreement to provide owners of VinFast electric vehicles with two complimentary charging sessions along with access to Electrify America’s coast-to-coast network in the VinFast mobile app. This cooperation further affirms VinFast’s determination to enter the... Read more →


Glencore and General Motors announced a multi-year sourcing agreement in which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia. Cobalt is an important metal in the production of EV batteries, and the cobalt processed from Australia will be used in GM’s Ultium battery cathodes, which... Read more →


In a press briefing held in Tokyo on its initiatives in automobile electrification, Honda announced that it will spend approximately ¥5 trillion (US$40 billion) in the area of electrification and software technologies to further accelerate its electrification over the next 10 years, including both R&D expenses (¥3.5 trillion / US$28... Read more →


Mercedes-Benz Cars aims to cut vehicle CO2 emissions by 50% over lifecycle by end of this decade

At its first digital ESG (Environment, Social and Governance) Conference for investors and analysts, Mercedes-Benz announced aims to at least halve CO2 emissions per passenger car over the lifecycle by the end of this decade compared to 2020 levels. To achieve this goal, the key factors include: electrifying the vehicle... Read more →


Mercedes-Benz has invested more than €200 million in the Electric Software Hub at the Mercedes Technology Centre (MTC) in Sindelfingen. Numerous software, hardware, system integration and testing functions are brought together under one roof. With this step, Mercedes-Benz is intensifying its approach of cross-functional collaboration. The Electric Software Hub accelerates... Read more →


The BMW Group will use cast aluminum wheels produced with 100% green power for its BMW and MINI brands from 2024 onwards. For the BMW Group, this is another step towards its goal of creating the most sustainable supply chain in the automotive industry. The transition applies, in particular, to... Read more →


Nissan unveiled its prototype production facility for laminated all-solid-state battery (ASSB) cells, which the company aims to bring to market in 2028. This prototype facility, within the Nissan Research Center in Kanagawa Prefecture, is aimed to further promote the development of all-solid-state-batteries. Nissan ASSB creation process in Oppama Research Center... Read more →


HT-PEM fuel cell company Advent Technologies, Hyundai enter technology assessment, sales & development agreement

Advent Technologies Holdings, a developer of highly efficient high-temperature PEM fuel cells, and Hyundai Motor Company have signed a technology assessment, sales, and development agreement. Advent and Hyundai aim to deliver green energy solutions to current high carbon applications, using fuel cell technology. Under the agreement, Hyundai will provide catalysts... Read more →


Torc Robotics, an independent subsidiary of Daimler Truck, is opening a technology and software development center in Stuttgart, Germany. Torc is a leader in SAE Level 4 self-driving vehicle software for heavy-duty vehicles. Torc Europe GmbH will tap into the available talent pool in one of Germany’s prime automotive regions.... Read more →


Porsche is investing US$75 million in HIF Global LLC, a holding company of internationally active project developers of eFuel production facilities. Among other projects, the Santiago de Chile-based company is building the Haru Oni eFuel pilot plant in Punta Arenas (Chile). (Earlier post.) Punta Arenas pilot plant under construction Initiated... Read more →


Mercedes-Benz Vans has to date produced more than 25,000 all-electric vans. The top seller for electric vans is the eVito, followed by the eSprinter and EQV. We have a clear goal, we want to be the leading manufacturer in the field of electric vans in the long term. And for... Read more →


GM and Honda expanding partnership to codevelop series of affordable EVs in most popular vehicle segments; on sale in 2027

General Motors and Honda plan to expand the two companies’ relationship by codeveloping a series of affordable electric vehicles based on a new global architecture using next-generation Ultium battery technology. The companies are working together to enable global production of millions of EVs starting in 2027, including compact crossover vehicles,... Read more →


Volvo Cars reports sales of 58,667 cars worldwide in March, down 22.1%; electrified share increased to 36%

Volvo Cars reported sales of 58,677 cars worldwide in March, a decline by 22.1% compared with the same month last year. During the first quarter, the number of cars sold increased gradually to a total of 148,295 cars as the supply chain constraints affecting Volvo Cars and the auto industry... Read more →


Volkswagen of America reports Q1 2022 sales; ID.4 accounted for 4.2%

Volkswagen of America reported Q1 2022 sales of 64,993 units (down 28.5% from 2021). SUVs accounted for 76% of total sales in Q1; the battery-electric ID.4 sales totaled 2,755 units in Q1 (4.2%). Tiguan, the top seller in Q1 2021 dropped 33% to 18,233 units in Q1 2022, while retaining... Read more →


Tesla delivered 310k EVs in Q1 2022

Tesla reported that it produced more than 305,000 vehicles and delivered more than 310,000 vehicles in the first quarter of 2022, despite ongoing supply chain challenges and factory shutdowns. Production Deliveries Subject to operating lease accounting Model S/X 14,218 14,724 17% Model 3/Y 291,189 295,324 3% Total 305,407 310,048 4%... Read more →


Aggressive emission and carbon neutrality targets set by regulators worldwide entails a faster transition from traditional automakers to next-gen electric vehicle (EV) manufacturers. Therefore, automakers are committing operational investments of nearly US$600 billion to secure their position in the future automotive market, according to GlobalData, a leading data and analytics... Read more →


Lotus has unveiled the electric Lotus Eletre (formerly codenamed Type 132), the first of a new breed of pure electric SUVs. The Eletre delivers a significant number of firsts for Lotus: the first five-door production car, the first model outside sports car segments, the first lifestyle EV, the most ‘connected’... Read more →