EV charging firm Myenergi ‘mulling £500m London listing’ August 5, 2021 Energy tech firm Myenergi is reportedly making plans for a London float that could value the company at up to £500m amid a surge in interest in “green” solutions. The company, which is best known for its Zappi electric car home charging system, is backed by Sir Terry Leahy, the former Tesco boss. A spokesman [...]
Toyota drives operating profit up to record $9.2bn as sales make strong recovery August 4, 2021 Toyota posted a record Q1 operating profit of 997.49bn yen, or $9.15bn (£6.5bn), on Wednesday but did not alter its annual forecast, as sales recovered from pandemic lows but the carmaker cited “uncertainties” ahead. The Japanese carmaker weathered the global chip supply shortage better than many rivals, and sprinted past analysts’ average expectations of a [...]
Plans for Coventry electric ‘gigafactory’ put forward July 15, 2021 Coventry City Council together with Coventry Airport Ltd. have submitted blueprints for a 5.7 square feet ‘gigafactory’ that could transform the UK’s electric car industry. The “mission critical” plant would make the batteries vital for the future of car manufacturing. The project’s proposals were put forward in February and will be decided if the project [...]
David Beckham scores stake in UK electric vehicle firm Lunaz June 3, 2021 David Beckham may be known for his impressive collection of classic cars, but the former England footballer is now swapping gas-guzzlers for electric vehicles. The maverick midfielder has taken a 10 per cent stake in Lunaz, a Silverstone-based company that electrifies classic cars such as Bentleys, Rolls-Royces and Jaguars. He joins a star-studded teamsheet of [...]
Tesla to spend north of $1bn for Australian electric car battery materials annually June 2, 2021 Raw battery materials from Australia alone are expected to cost Tesla north of $1bn every year, the chair of the US carmaker has said today. Australia, which is rich in natural resource, is a business go-to for its bustling mining industry and responsible production practices. Tesla is keen for minerals like lithium and nickel, which [...]
Ofgem invests £300m into EV charge points, with £40bn more to come May 24, 2021 The Office of Gas and Electricity Markets, also known as Ofgem, has invested £300m into expanding the UK’s electric vehicle (EV) charging network today, to push the pedal on the country’s low carbon future. In the bid for net zero, the non-ministerial government department has put money behind the electric vehicle sector, to instal [...]
2035 zero emission car target a ‘mountain to climb’ for government, MPs say May 19, 2021 The government is facing a “mountain to climb” to deliver on its ambition to make all cars sold in the UK zero-emissions by 2035, MPs have said today. Ministers must address the twin challenges of up-front prices for electric cars, which remain notably higher than petrol and diesel cars, and providing enough charging infrastructure to [...]
Biden charges up $174bn electric vehicle plan in Michigan speech May 18, 2021 US President Joe Biden today called for government grants for new battery production facilities as he made the case for his $174bn (£123bn) electric vehicle plan today. During a speech at a Ford electric vehicle plant in Michigan, Biden vowed to “set a new pace” for the technology and reverse what he described as the [...]
Electric scooter startup Bird to go public in £1.6bn SPAC deal May 12, 2021 Bird Rides announced a merger with Switchback II Corp, a blank-cheque company, to go public in a deal that values the electric scooter company at £1.6bn. SPACs are listed companies that use the proceeds from an IPO to buy a private firm and take it public. The scooter rental company said the deal will be [...]
German e-car boom will hit 178,000 workers unless companies focus on re-skilling May 6, 2021 The electric cars boom will hit 178,000 workers in Germany unless companies gear up efforts to re-skill their employees, a report has shown today. The country’s auto industry will suffer more employees retiring than the labour market can keep up within the coming years, the Ifo institute said. With battery-driven cars requiring less assembly work [...]