“This investment demonstrates confidence in our team, products, technology and strategy – we are extremely excited to have the support from such strong shareholders,” said Rivian Founder and CEO RJ Scaringe. The investment announcement is Rivian’s fourth of 2019. In February, Rivian announced a $700 million funding round led by Amazon. In April, Rivian announced… Continue reading Rivian announces $1.3 billion funding round led by T. Rowe Price
Tag: Manufacturing
EMBARGOED-Electric vehicle startup Rivian scores $1.3 bln investment from T.Rowe Price, others
Dec 23 (Reuters) – Electric vehicle startup Rivian said on Monday it closed a $1.3 billion investment round, led by fund manager T. Rowe Price but also including existing investors online retailer Amazon.com Inc and No. 2 U.S. automaker Ford Motor Co. The investment round, which also included BlackRock Inc, is the fourth this year… Continue reading EMBARGOED-Electric vehicle startup Rivian scores $1.3 bln investment from T.Rowe Price, others
NIO Inc. to Report Third Quarter 2019 Financial Results on Monday, December 30, 2019
SHANGHAI, China, Dec. 23, 2019 (GLOBE NEWSWIRE) — NIO Inc. (“NIO” or the “Company”) (NIO), a pioneer in China’s premium electric vehicle market, today announced that it will report its third quarter 2019 unaudited financial results on Monday, December 30, 2019, before the open of the U.S. markets. The Company’s management will host an earnings… Continue reading NIO Inc. to Report Third Quarter 2019 Financial Results on Monday, December 30, 2019
Gigafactory: Tesla and Brandenburg agree to sell property
Monika Skolimowska / dpa-Zentralbild / DPA Brandenburg, Freienbrink: The electric car manufacturer Tesla wants to build the new factory for electric cars on this piece of forest After the agreement to sell the property to the US electric car manufacturer Tesla, further important steps are pending. In January the purchase contract is to be discussed… Continue reading Gigafactory: Tesla and Brandenburg agree to sell property
Exclusive: Tesla to take new $1.4 billion loan from Chinese banks for Shanghai factory – sources
FILE PHOTO: China-made Tesla Model 3 electric vehicles are seen at the Gigafactory of electric car maker Tesla Inc in Shanghai, China December 2, 2019. REUTERS/Aly Song BEIJING/SHANGHAI (Reuters) – U.S. electric vehicle maker Tesla Inc (TSLA.O) and a group of China banks have agreed a new 10 billion yuan ($1.4 billion), five-year loan facility… Continue reading Exclusive: Tesla to take new $1.4 billion loan from Chinese banks for Shanghai factory – sources
‘Toyota Inside’ strategy kicks off in China with fuel cells
BEIJING — Toyota Motor has begun supplying key components for fuel cell vehicles to other companies in China, seeking to emulate the way Intel came to dominate the microprocessor business as Taiwanese players built personal computers using its chips. Components being provided by the Japanese automaker include fuel cell stacks, which generate electricity through the… Continue reading ‘Toyota Inside’ strategy kicks off in China with fuel cells
Mazda shifts Thai SUV production to Japan as baht soars
TOKYO — Mazda Motor will review its production footprint in Thailand, Southeast Asia’s top automotive hub, and move the assembly of some models to Japan, as the automaker combats the continued appreciation of the baht against key currencies. Mazda will relocate the production of CX-3 sport utility vehicles meant for the Australia market to a factory in the western… Continue reading Mazda shifts Thai SUV production to Japan as baht soars
Tesla nears land deal for German gigafactory outside of Berlin
Tesla is making progress on its plan to build its European gigafactory in Berlin, Bloomberg reports. The Elon Musk-run automaker is working with state officials in Brandenburg on the contract to secure around 740 acres of land just outside Berlin in Gruenheide, and the government has agreed to the contract as currently written and is… Continue reading Tesla nears land deal for German gigafactory outside of Berlin
3.2 billion euros in aid for European batteries
The European battery production sector is gaining momentum. The European Commission has just authorized seven member states to devote 3.2 billion euros in public aid to the development and production of these precious automotive components. This amount, resulting from the cumulative contributions from Germany (1.25 billion euros), France (960 million), Italy (570 […]Read the article… Continue reading 3.2 billion euros in aid for European batteries
Nissan LEAF Gets A Price Cut In The UK
Just in time for Christmas, too. Struggling with what to get your loved ones for Christmas? Well Nissan may have an answer, because it’s cutting the price of its best-selling Leaf electric car over the festive period. The Sunderland-built car, the world’s best-selling EV, has been dropped in price by £1,650 across the entire range, meaning… Continue reading Nissan LEAF Gets A Price Cut In The UK