Electric Cars News

Northvolt said its new gigafactory in northern Sweden has assembled its first battery cell, making it the first European company to design and manufacture a battery on the continent.

Mass production for its inaugural Hengchi 5 sport-utility vehicles at its Tianjin production facilities came 12 days ahead of schedule, the people said, and the firm plans to hold an official ceremony in the next two weeks.

The fundraising exercise comes as VinFast, Vingroup's automobile arm, is betting big on the U.S. market, where it hopes that its electric SUVs and a battery leasing model will be enough to woo consumers away from the likes of Tesla and General Motors.

The proposed Transportation Ministry's law that was presented to parliament's Economic Affairs Committee would arrange, supervise and develop the autonomous sector in Israel, initially limited to just taxis.

Haomo will use the funds raised from investors to build its talent pool and enhance its R&D capability, the company said in a statement on Wednesday.

Unveiled by Panasonic in October, the 4680 format (46 millimetres wide and 80 millimetres tall) battery is around five times bigger than those currently supplied to Tesla.

Four more plants will follow by the end of the decade, most likely in Spain, eastern Europe and two additional locations that have so far not been disclosed. Costs will be 1 billion to 2 billion euros per plant while capacity will range from 40 up to a maximum of 80 gigawatt hours (GWh)

Canoo said starting production in Oklahoma remains on track for late 2023, but it also now expects to begin building electric vehicles in Arkansas next year, instead of using the VDL Nedcar plant.