Commodities boom drives up the price of EV batteries March 3, 2022 Total battery costs for electric vehicles have more than doubled since the start of the year, according to Rystad Energy.
Exclusive: Electric vehicle fundraiser looks to put some spark into raise efforts February 28, 2022 Electric vehicle (EV) finance business WeFlex has brought in EY to drive its £60m funding effort. A mixture of debt and equity, the funding will be used to help hailing driving companies such as Uber to switch to EV, providing insurance, vehicle servicing and PCO licensing. WeFlex has already raised £2m in equity from investors [...]
EV charging provider EO extends deadline for US SPAC merger February 25, 2022 Electric vehicle (EV) charging provider EO Charging has extended the deadline to complete a $675m merger with US special purpose acquisition company (SPAC) First Reserve Sustainable Growth. Sources said that, while the agreement is required to be finalised by 11 March, doubts on whether the company will meet the deadline have emerged, Sky News has [...]
EV high power chargers will reach 100,000 in Europe by 2030 February 24, 2022 Over 100,000 electric vehicle (EV) high power chargers will be installed across Europe by 2030, leading to a 24 fold increase on the current roll out. According to new energy research and consulting company Delta-EE, the UK will become Europe’s second-largest high power charging market, with 28,000 charging points installed by 2030. High power chargers [...]
Why 2021 was such a favourable year for electric cars February 19, 2022 In the words of Erik Fairbairn, chief executive of LSE listed electric vehicle (EV) Pod Point, 2021 was the year electric cars became a mass market. Not only did his company post record profits in the first results since its IPO but, overall, the industry has boomed in the last 12 months. EV output emerged [...]
Pod Point’s profit skyrockets as EV market soars February 18, 2022 Electric vehicle (EV) charging firm Pod Point has reported skyrocketing profits as a result of strong consumer demand. In the year ended 31 December, the company registered an 86 per cent increase in year-on-year revenue, going up to £61.4m, while gross profit surged 99 per cent. Gross margins went up two per cent, while home [...]
Which? calls on government to deliver EV charge points upgrade February 17, 2022 Consumer group Which? is lobbying with the UK national and devolved governments to deliver an upgrade to electric vehicle (EV) charging infrastructure. The customer champion’s annual car survey revealed that EV drivers rely on the public network to charge their vehicles only 13 per cent of the time, while charging related fears constitute the biggest [...]
Eurocell builds £600m European gigafactory to produce batteries in a year February 16, 2022 Anglo-Korean battery producer Eurocell announced today it will build its first European gigafactory and start delivering batteries by next year. With an initial £600m investment, Eurocell’s gigafactory will mass produce and export its batteries from one of the main markets – the UK, Spain or the Netherlands. The company has said that the factory’s location [...]
Automotive industry calls for new regulator to govern EV charge point mandate February 16, 2022 The UK automotive industry is lobbying for an independent regulator called Ofcharge to govern the mandate of electric vehicle (EV) charge points. The sector released today a seven-point plan to ensure UK drivers benefit from an affordable and available EV charging network, working alongside the government and other stakeholders to establish mandated targets for infrastructure [...]
Swedish EV maker Polestar to open research base in the Midlands February 15, 2022 Swedish electric vehicle (EV) manufacturer Polestar announced today it will open a new research facility in the Midlands, creating employment opportunities for more than 800 people. The firm, which has already a facility in the Midlands town of Nuneaton, has chosen the area once again because of the presence of both Formula 1 engineers and [...]