Secures

Autonomous and EV freight technology company Einride announced its future has been hardened by $500 million in financing. The mobility company intends to use the fresh funds that also includes a Series C equity raise to support all-electric truck production and expand the development of its autonomous and digital fleet management technology. Einride is a Swedish freight technology company founded in 2016 that develops electrified commercial trucks and fully autonomous Class 8 trucks in addition…

A plan to build the first fibre-optic cable across the Arctic has secured its first investment, the consortium behind the 1.1 billion euro ($1.15 billion) scheme said on Friday. A plan to build the first fibre-optic cable across the Arctic has secured its first investment, the consortium behind the 1.1 billion euro ($1.15 billion) scheme said on Friday. The subsea cable, which the developers say will be the first to be laid on the Arctic seabed, will connect Europe and Japan via North America as part of the global…

A Toyota logo displayed on a vehicle in Poland. The Japanese automotive giant started working on the development of fuel cell vehicles back in 1992.Artur Widak | Nurphoto | Getty ImagesLONDON — A consortium led by automotive giant Toyota will receive millions in funding to develop a hydrogen fuel cell pickup truck in the U.K.In a statement Friday, Toyota said the fuel cell-powered prototype of its Hilux pickup would be developed at its plant in Burnaston, in the East Midlands of England.Toyota Motor Manufacturing UK is…

<!----> Dane Hardware, a Ford design and release engineer, tests the state of charge (SOC) of the battery chamber and cell temperatures on a running battery at Ford’s Battery Benchmarking and Test Laboratory in Allen Park, Michigan. SK On has announced two large battery making JVs with the automaker in the last year…

Tesla has secured a large fleet order from the California Department of Transportation (Caltrans), who is trying to electrify its vehicle fleet. Caltrans, like other government agencies in California, is trying to electrify its entire vehicle fleet of about 1,200 vehicles by 2030. They already have 54 Toyota RAV4 Primes (PHEV), 15 Chevy Bolts, 11 Nissan Leafs and one Ford F-150 Lightning electric pickup, but now they have placed their largest EV order yet. The agency told Drive Tesla…

LONDON—Gieves & Hawkes, tailor to royalty and world leaders for centuries, is back in British hands after five ill-fated years of Chinese ownership that threatened its survival. Frasers Group FRAS 0.91% PLC, whose stable of brands include a department store chain and discount sportswear retailer, said Friday it had acquired the Savile Row suit maker in a deal overseen by administrators appointed to sell the assets of its failed former owner. The deal would secure “a…

Overall market sentiment has been more or less negative due to the recent news that have caused serious issues for centralized exchanges like FTX and Crypto.com. As investors scramble to secure their holdings across these platforms, a DeFi project with an exceptional protocol called Oryen provides its native token (ORY) holders unmatched automated staking opportunities and stability within its ecosystem to earn the highest returns in crypto. The project is currently in its fourth presale phase and has already generated…

GM and Vale announced that they have come to an agreement for the former to get a significant part of the nickel sulfate that Vale plans to produce at its upcoming new Quebec Battery Valley factory. There’s a region in Québec around Bécancour, just outside of the city of Trois-Rivières, that people are starting to call “Québec’s Battery Valley.” The name comes from several different investments made by companies over the last few years to build an entire supply chain of battery materials in…

Redwood Materials, a company founded by Tesla co-founder JB Straubel, announced that it will supply high-nickel cathode material for battery cell production in Panasonic’s new Kansas plant. The company believes that this will be the first time cathode material will be produced in North America at “Gigafactory scale”. Redwood Materials has been best known as a Nevada-based company developing new processes to recycle materials with a focus on electric car batteries, but the company recently…

Following initial contracts with European suppliers, the BMW Group now says it has concluded further agreements for the supply of CO2-reduced steel in the US and China. In the medium-term, the BMW Group will increase CO2 savings through agreements with additional steel suppliers. Around 20 percent of supply chain CO2 emissions for a mid-sized fully-electric vehicle are attributable to steel – which comes in third, after…