Auto Industry News

NXP Chief Executive Kurt Sievers said the company intended to focus on key areas where more chips are going into cars and where NXP believes it can hold a market position at least twice that of any competitor.

NXP Forecasts Sales Growth Driven By Connected Vehicles

Mar 31, 2022 12:32 AM

1 mins read

NXP Chief Executive Kurt Sievers said the company intended to focus on key areas where more chips are going into cars and where NXP believes it can hold a market position at least twice that of any competitor.

Foxconn Finalizes $50 Million Stock Deal With Lordstown Motors

By car&bike Team

Mar 31, 2022 12:30 AM

Foxconn has bought stock worth $50 million from the U.S. electric vehicle maker, finalizing an equity investment announced in September.

Battery Swap Startup Ample Hits Unicorn Status With New Funding Round

By car&bike Team

Mar 31, 2022 12:27 AM

The latest funding comes on the heels of a $160 million round in August that boosted the companys valuation to $890 million, according to investor website PitchBook.

Hertz In Talks With Tesla For EV Delivery Timeline

By car&bike Team

Mar 31, 2022 12:24 AM

Tesla boss Elon Musk took to Twitter on Monday to say that his company had not signed a contract with Hertz, spurring a brief halt in Tesla's stock rally.

EV Maker Bedeo Acquires Protean From Evergrande's Auto Unit

By car&bike Team

Mar 31, 2022 12:21 AM

Bedeo is buying Protean from National Electric Vehicle Sweden, a unit of Evergrande New Energy Vehicle Group.a

Startup Italvolt Signs Deal With Engie's Equans In Italy Battery Facility Plan

By car&bike Team

Mar 31, 2022 12:18 AM

Italvolt has pledged to invest 3.4 billion euros ($3.9 billion) to build a battery production facility in Scarmagno, near Turin, to meet growing demand for lithium-ion batteries from Europe's automotive industry.

Australia Bumps Up Investment In EV Chargers, Shuns Sales Targets

By car&bike Team

Mar 31, 2022 12:15 AM

The additional investment, which adds to an existing A$72 million commitment and will be spent by the end of June 2025, will also aid purchases of electric cars and buses for government and business fleets.

China Evergrande EV Unit To Raise $347 Million From Share Sale To Fund Production

By car&bike Team

Mar 31, 2022 12:11 AM

China Evergrande New Energy Vehicle Group Ltd will issue about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd, after striking a similar deal with it last week.