Cars News

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.

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.

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

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.

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 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.

The company had said in September it planned to build a new battery factory in China with an initial investment of 1.2 trillion won ($1.01 billion).

Piech Automotive is due to release its 200,000 euro Piech GT model in 2024, with a production target of 10,000 cars a year.