Electric Cars News

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).

The company said trial runs would start in the coming weeks, where big rigs equipped with its fifth-generation Waymo Driver technology will deliver for UPS' North American Air Freight unit between facilities in Dallas-Fort Worth and Houston, Texas.

The motor, known as an axial-flux motor and designed by the British startup YASA which Daimler acquired earlier this year, weighs a fraction of its diesel equivalent and can boost the range of an EV by up to 7%.

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.

Germany aims to have at least 15 million electric cars on the roads by 2030 in its shift towards climate neutrality, up from a previous goal of 14 million.

The three governments want to take advantage of a new trade deal known as the United States-Mexico-Canada Agreement (USMCA) to deepen supply chains, but that push has been clouded by months of wrangling over disputes in the auto industry.

The first prototypes of the Rolls-Royce Spectre EV are completed winter testing in temperatures under -26 degrees centigrade and further cooled to -40 degrees centigrade, about 55 km from the Arctic circle.