Monthly EV update – October 2021

Monthly EV update – October 2021

monthly electric vehicle

New Product launches

India Launches- October 2021

Product

Vehicle type

Battery specs.

Other specifications

Price

Ampere Magnus EX

2-wheeler

· Battery- 60Ah, 38.25Ah Li-ion pack

· Range- 121 km

·   Top speed- 50 km/hr

·   Motor Output- 1200 Nm

·   Charging time- 4-5 hours

INR 68,999

Euler Motors HiLoad EV

3-wheeler cargo

· Battery- 12.4 kWh Li-ion pack

· Range- 151 km

·   Payload capacity- 688 kg

·   Peak power- 10.96 kW

·   Comes with IP67 certification, making it waterproof

INR 3,49,999

Mini Cooper SE

E-Car

· Battery- 32.6 kWh Li-ion pack

· Range- 270 km

·   Max power- 184 hp

·   0-100 kmph time- 7.3 secs

Pre-booking begins at INR 1 lakh, prices not revealed

Source: Industry news articles, JMK Research

Upcoming Launches

Product

Vehicle type

Known/ Revealed specs.

Expected Launch Date

Dao 703

2-wheeler

·   Range – 100 km

·   Top speed – 70 km/hr

·   Battery- 72V, 30 Ah LFP

Launch date: January 2022

Pre-booking start: 14 October 2021

Price: INR 86,000

Porsche Taycan

E-Car

·   Range – 500 km

·   Battery- 71/83.7 kWh Li-ion

·   0-100 kmph time- 3.5 secs

12 November 2021

Source: Industry news articles, JMK Research

Honda Motorcycle all set to foray into Indian EV segment next fiscal
Two-wheeler major Honda Motorcycle & Scooter India (HMSI) is gearing up to launch its first electric product in the country in the next financial year. The company, which sells popular models like Activa and Shine in the country, aims to start feasibility run of the electric scooter with its dealer partners at the end of the festive season this year.

Okaya EV onboards 165 dealerships to expand pan-India network
Okaya EV has onboarded 165 dealerships as part of its plans to expand its network pan-India. The group made its entry into the domestic EV space with the launch of two variants, AvionIQ series and ClassIQ series, of e-scooters in July this year. Moving ahead with the plan, Okaya EV has already appointed 165 dealers across 18 states in India, including setting up in India, including setting up of 20 dealerships in Haryana, Madhya Pradesh, UP, Rajasthan, among others, in a single day, the company said in a release. The 20 dealers were launched simultaneously in all the key cities including Bhopal, Jaipur, Faridabad, Bareilly, Bijnor, Alwar, Bharatpur, Hathras, Sagar, Shivpuri, Abohar, Patna, Tonk, Beawar, and Shujapur.

India’s Mahindra Group expects 50% of vehicles sold by 2030 to be electric
Indian automaker Mahindra & Mahindra expects half the vehicles it would sell by 2030 to be electric, as revealed by the company’s managing director and CEO, Anish Shah. Shah pointed out three factors that could accelerate the adoption of electric vehicles in India: lower cost of ownership, better infrastructure and improved range.

Maruti Suzuki to launch EVs only after 2025
Maruti Suzuki, India’s largest carmaker is not very keen on launching an electric car in India anytime soon said chairman RC Bhargava. Although Maruti Suzuki has been testing the electric Wagon R for some time now, Bhargava said Maruti will launch electric vehicles in the country only after 2025 as demand for such vehicles at the moment is less. He also mentioned that they are not looking to enter the Indian EV space by retailing a few thousand units only, but would like to sell around 10,000 units a month whenever it enters the electric mobility space.

Hero Gogoro product launch: Taiwan’s Gogoro, Hero MotoCorp likely to launch EV product in India in Q4 2022
The company Hero MotoCorp plans to work out its international expansion via SwapCos model for setting up a local joint venture, where the model will own, finance and operate the network. While Gogoro will receive upfront revenue from hardware and perpetual license fee through subscription revenue sharing, the OEMs will get new business opportunities. If everything goes according to the company’s plan, the joint venture entity will be established in 2021 or early 2022, wherein the JV funding is expected in 2022. While the company is working on finalizing the vehicle schedule, it has identified the cities for the initial roll-out, which will be Delhi and Bangalore with 7,000 customer touchpoints across India.

EV Sales Trends

The overall EV sales continue to grow with sales in October 2021 clocking 38,684 units, signifying a m-o-m increase of 12.7% and y-o-y jump of 255%.

Registered EV sales trend in India (Oct 2020–Oct 2021)

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,357 RTOs in 33 states/ UTs.

As depicted in the figure below, EV registrations in October 2021 were driven by electric two-wheeler and passenger-type electric three-wheeler, which together accounted for 92% of total registrations in the month. The shares of these categories are followed by cargo-type electric three-wheeler (4.3%), e-car (3.4%) and so on.

Category-wise EV sales in October 2021

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,357 RTOs in 33 states/ UTs; Others include adapted vehicles, fork lifts, goods carriers and trailer (agriculture) vehicles.

Among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with a 21% share in overall sales in India in October 2021. Karnataka has the 2nd highest sales at 11% share, followed by Maharashtra (11%), Delhi (8%), Bihar (8%), Rajasthan (8%), and Tamil Nadu (7%).

(State/ UT) Region-wise registered EV sales – October 2021

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent EVs registered across 1,357 RTOs in 33 states/ UTs.

High-Speed Electric Two-Wheeler (HS-E2W)

The overall HS-E2W sales in the country in October 2021 stood at 19,253 units, signifying a 16% m-o-m jump and a y-o-y leap in registrations of 603%. The Top 10 players, as shown below account for 95% of the total registrations recorded in the month of October 2021.

Player-wise High-Speed E2W sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent only high-range E2W (Top speed > 25 kmph) registered across 1,357 RTOs in 33 states/ UTs.

Electric Three-Wheeler (E3W)

The sales of registered E3Ws (both passenger and cargo-type) in October 2021 stood at 18,004 units, increasing m-o-m by 10.3%. Passenger E3W sales saw an increase of 13%, whereas the cargo E3W sales fell by 8% as compared to that of the previous month.

Sales trend of cargo E3W and passenger E3W

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent E3Ws registered across 1,357 RTOs in 33 states/ UTs; Passenger and Cargo E3W sales shown in the figure takes into account both e-rickshaw and three wheeler classes as categorized in the vahan dashboard.

The cumulative sales of top 7 electric 3-wheeler players across passenger and cargo segments in October 2021 occupied 36.1% share of the entire E3W market. YC Electric Vehicle has the highest share of 9.7%, which is followed by Mahindra Electric Mobility (6.7%), Saera Electric Auto (4.9%), Champion Poly Plast (4.5%), Dilli Electric (4.1%), Best Way Agencies (3.6%) and Vani Electric (2.7%).

Top E3W Players in October 2021

Source: Vahan Dashboard, JMK Research

Note: Others made up 63.9% of the E3W markets in October 2021; sales figures for players are inclusive of cargo and passenger offerings combined; Sales figures represent E3Ws registered across 1,357 RTOs in 33 states/ UTs; Passenger and Cargo E3W sales shown in the figure takes into account both e-rickshaw and three-wheeler classes as categorized in the Vahan dashboard.

Electric cars (E-cars)

The cumulative sales of e-cars in October 2021 stood at 1,299 units, a marginal m-o-m increase of 6% and a y-o-y increase of 188.67% in registrations. Tata Motors and MG Motors continue to drive e-car sales, accounting for 98% of registrations in October 2021, with Tata Motors’ share increasing to 80% from previous month’s 72% share.

Player-wise e-car sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent e-cars registered across 1,357 RTOs in 33 states/ UTs.

Electric buses (E-buses)

The cumulative sales of e-buses in October 2021 stood at 87 units, with a m-o-m increase of 10%. This month’s sales were driven by PMI Electro which accounted for 75% share of the total e-bus sales in October 2021, followed by Tata Motors (18%) and JBM Auto (6%).

Player-wise e-bus sales trend

Source: Vahan Dashboard, JMK Research

Note: Sales figures represent e-buses registered across 1,357 RTOs in 33 states/ UTs.

Policies & Regulations

Haryana releases its draft EV policy
The state of Haryana has released its draft EV policy, which focuses on providing incentives to manufacturers of EV components and for the setting up of public charging infrastructure. With this policy the state targets to:

  • Convert 100% of bus fleet owned by State Transport Undertakings in the state into electric buses (Battery Electric Vehicles or Fuel Cell Electric Vehicles) by 2029, with the first phase of 100% conversion of bus fleet in Gurugram and Faridabad by 2024.
  • Phase out all fossil fuel based commercial fleets and logistics vehicles in Gurugram and Faridabad by 2024 and all cities by 2030.
  • All forms of Government vehicles, including vehicles under Government Corporations, Boards and Government Ambulances etc. will be converted to electric vehicles by 2024.

Chandigarh revises its draft EV policy
The Chandigarh administration has in its draft e-vehicles policy has increased the upper limit of incentive for purchase of electric cars from Rs 75,000 to Rs 1,50,000. There will be incentives of

  • Rs 5,000 per kilowatt for buyers of electric two-wheelers subject to maximum of Rs 30,000;
  • Rs 10,000 per kilowatt for registered owners of electric cars subject to maximum of Rs 1,50,000, which was earlier Rs 75,000, according to the proposal.
  • For purchase of electric three-wheelers, including e-rickshaws, e-carts, e-autos, an incentive of Rs 30,000 will be given.

The UT has also removed limit on number of cars. Earlier, the UT had fixed a limit on number of cars, which will get incentive Besides, there will be waiver of road tax and registering fees up to March 31, 2024. The administration has already proposed 100% waiver on parking charges for electric vehicles at Chandigarh municipal corporation run parking facilities for five years.

Odisha government announces full tax exemption, registration fee waiver for Electric Vehicles
The Odisha government has announced full exemption of motor vehicles taxes and registration fees on electric vehicles (EVs) in the state, as per an official notification. The decision was taken to encourage faster adoption of EVs, it said. The exemption, granted under the Odisha Motor Vehicles Taxation Act, is applicable till 2025.

Odisha had released Its own EV policy on 28 August 2021, under which the government aims for an EV penetration of 20% by 2025. The policy focussed on demand-creation, with the inclusion of incentives on purchase of EVs in the state. On top of these, the state will provide 100% Interest free loans for state government employees for the purchase of EVs and 5% Interest subvention of e-buses and goods carriages during the policy period. The policy also lays down supply side Incentives, Incentive for charging Infrastructure and talks about the creation of a recycling eco-system for EV batteries

NHAI targets EV charging stations at every 40-60 km on national highways by 2023
In a big push to the usage of electric vehicles in the country, the National Highways Authority of India (NHAI) has set a target to install charging stations every 40 to 60 kilometres on national highways. The authority is planning to cover 35,000-40,000 km of national highways with charging stations by 2023. In all, 700 charging stations will come up over the next two years. 

Maharashtra government to buy only e-vehicles for its use from April 2022
Maharashtra’s Minister of Tourism and Environment Aditya Thackrey said that all vehicles purchased or hired for use by the government from April 2022 will strictly be electric. He further added that the government will encourage the installations of charging stations at the petrol pump and housing complexes to encourage the use of EVs.

Charging Infrastructure

Stakeholder(s)/ Player(s)

Subject/ Scope

Description

TVS Motors and Tata Power

Setting up E2W charging infrastructure

·        TVS Motor Company has signed up a strategic partnership with Tata Power for comprehensive implementation of electric vehicle charging infrastructure (EVCI) across India and deploy solar power technologies at TVS Motor locations.

·        The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India. The co-operation aims to create a regular AC charging network and a DC fast-charging network for electric two-wheelers.

Reliance and British Petroleum

Setting up charging stations

·        Reliance Industries Limited (RIL) and British Petroleum (BP) fuel and mobility joint venture, Reliance BP Mobility Limited (RBML) launched its first Jio-BP branded Mobility Station at Navde, in Maharashtra. The existing network of over 1400 fuel pumps will be rebranded as Jio-BP over the coming months.

·        Jio-BP will also set up a network of EV Charging Stations and Battery Swap Stations, at its Mobility Stations and other standalone locations – Mobility Points.

Kazam and BSES

Setting up charging stations in Delhi

·        Charging station start-up Kazam has joined hands with BSES to set up EV charging station network in Delhi.

·        For the first 30,000 charging stations, GNCTD (Government of NCTD) would provide a subsidy of up to 100 per cent of the cost of the slow chargers and up to Rs 6,000 per charging point.

·        The subsidy will be given to the first 30,000 charging stations sold under this scheme. It will be applicable to semi-public locations such as malls, workplaces, hospitals, and shops, as well as private property owners such as bungalows and apartments.

Raft Motors

Setting up charging stations in India

·        EV Maker Giant Raft Motors has announced its plans to install one lakh charging points by March 2022 across the Country. The charging point can charge an EV in just INR 25.

·        Raft Motors has developed an in-house compact charging hardware integrated with smart mobile application software, which is fully discoverable on map, completely automatic, available 24×7, needs no manual intervention, can charge any electric vehicle for just 25 through any payment mode or mobile wallet. It is available for only INR 4999

Log 9 Materials and Fortum

Setting charging up DC fast charging infrastructure

·        Advanced battery technology startup Log 9 Materials has partnered with Finnish energy company Fortum to expand its fast-charging tech for electric two- and three-wheelers using Fortum’s charging network.

·        Through this association Fortum will make available its EV charging ecosystem– Fortum Charge & Drive India –for two- and three-wheeler customers/fleets using Log 9 Material’s battery pack.

·        This will allow EV users to charge their vehicles within 15-30 minutes. The partnership will be for a duration of at least 24 months and can thereafter be mutually extended both in terms of period and scope. 

·        As an outcome of this collaboration, consumers charging Log 9 powered vehicles at Fortum’s EV charging stations will be incentivised in terms of a preferential tariff. At present, the tariff scheme is only applicable at charging stations located in Hyderabad city and Vijaywada Highway; however, it will be expanded to other tier 1, tier 2 and metro cities of our country in the near future.

Magenta, BSES Rajdhani Power and BSES Yamuna Power

EV Charging deployment across Delhi

·        Magenta, an Indian Charge Point Operator (CPO) company, has signed an MoU with BSES Rajdhani Power Limited and BSES Yamuna Power Limited, to deploy innovative EV charging solutions across Delhi.

·        The EV charging solutions that will be deployed under this MoU will be customized basis the requirements of various segments of customers.

Tata Power

Completion of installation of 1000 EV chargers across the country

·        This network of 1000 public EV charging stations provides innovative and seamless EV charging experiences for Tata Power’s customers across Offices, Malls, Hotels, Retail Outlets, and places of public access, enabling clean mobility and freedom from range-anxiety. In addition, there are close to 10,000 home EV charging points, which make EV charging super-convenient for the vehicle owners. 

·        Tata Power EZ Chargers ecosystem covers the entire value chain of Public chargers, Captive chargers, Bus/ Fleet chargers and Home chargers.

·        Starting with the first chargers being installed in Mumbai, Tata Power EV charging points are now present in nearly 180 cities and in multiple State and National highways under various business models and market segments.

·        The Company is planning to have a base of 10,000 Charging Stations as also to enable whole stretches of highways into e-highways across the length and breadth of the country. 

ATUM Charge

Installation of EV chargers with integrated rooftop solar units

·        ATUM Charge is a unique EV Charging Station, which is very different from other EV charging stations, as it uses ATUM, the world’s first Electricity Generating Integrated Solar Roof.

·        The company has launched 10 Universal EV Charging Station across the country. The EV Charging Stations were launched in Pune and Nagpur (Maharashtra), Vijayawada (Andhra Pradesh), Rae Bareilly (Uttar Pradesh), Jhajjar (Haryana), Sambalpur (Odisha), Tumkur (Karnataka), Midnapore (West Bengal), Paramathi (Tamil Nadu) and Miryalguda (Telangana).

Source: Industry news articles, JMK Research

EV start-up REVOS launches peer to peer charging point at Rs 1
EV infrastructure provider REVOS launched BOLT, peer-to-peer charging points which will be available at a launch price of Rs 1 each from October 29 till December end. In the next two years, REVOS aims to install more than 1 million BOLT charging points across 500 cities and other emerging markets. BOLT is available on the REVOS website for Rs 3,000 without the launch offer.

Indian EV start-up claims to charge EV batteries in under 15 minutes
Bengaluru-based Exponent Energy may have a solution to the challenges for setting up the charging infrastructure for electric vehicles (EVs) in India. The start-up claims its proprietary technology can charge a commercial EV battery from 0% to 100% in just 5-15 minutes, paving the way for faster EV adoption in the country.

BEST to procure 2,100 electric buses, set up 55 electric charging stations in Mumbai
Brihanmumbai Electric Supply and Transportation (BEST) will have only electric buses in its fleet by 2027, and plans to procure 2,100 electric buses, provide dedicated services to corporate houses and business hubs, and set up 55 electric vehicle charging stations in the city. The announcement was made in its annual budget for the year 2022-23. The 2,100 e-buses will be procured on a gross cost contract model and will include 200 air-conditioned (AC) double-decker buses, 100 mini-AC buses, 400 midi AC buses, and 1,400 single-decker AC buses. In line with the Electric Vehicle Policy announced by the Maharashtra government, BEST has planned that 50% of its fleet will be of electric buses by March 2023, and its entire fleet will be of electric buses by March 2027.

TotalEnergies Looking Into EV Charging Points In India, Says CEO
TotalEnergies is looking at investing in electric vehicle charging points in India as well as low-carbon hydrogen in India, Chief Executive Patrick Pouyanne said while speaking online at the India Energy Forum by CERAWeek.

Investments

Date

Company name

Company type

Deal type

Investor(s)

Deal value

(in US$ Mn)

Details

Oct-21

Tata Motors

EV Manufacturer

Equity

TPG Climate, ADQ

1000

Tata Motors to raise $1 BN in its Passenger Electric Vehicle business at a valuation of upto $9.1 BN from TPG Rise Climate

Oct-21

Log 9 Materials

Advanced battery manufacturer

Equity

Petronas Group

2

Log 9 Materials raises $2 mn in funding from Petronas Ventures

Oct-21

Revfin

Digital e-mobility consumer lending platform

Equity

Redcliffe’s Dheeraj Jain, Let’s Venture Angel Fund, Anuraag and Ruchirans Jaipuria, Rishi Kajaria, Rahul Seth, Amit Goel, Ranjit Yadav

4

Revfin raises USD 4 mn in pre-series A funding round

Oct-21

SUN Mobility

EV OEM

Equity

Vilot

50

SUN Mobility raises $50 million from energy giant Vitol

Oct-21

kWh Bikes

E2W Manufacturer

Equity

Let’s Venture, Vijay Shekhar Sharma (PayTM CEO)

2

kWh Bikes raises USD 2 mn in seed funding round

Oct-21

Ather Energy

E2W Manufacturer

Debt

Hero MotoCorp.

17.38

Ather Energy raises Rs 130 Cr from Hero Group

Oct-21

Ola Electric

EV Manufacturer

Equity

Existing investors

200

Ola Electric raises $200 mn at over $5 bn valuation: Sources

Source: Industry news articles, JMK Research

Niti Aayog, World Bank ready electric vehicles financing push
Niti Aayog and the World Bank are working together to facilitate a program for faster and easier financing of electric vehicles (EV). The two entities are setting up a $300-million ‘first loss risk sharing instrument’, with State Bank of India (SBI) as its program manager. This facility would seek to garner around $1.5 billion in financing for EVs. The instrument would act as a hedging mechanism, for banks to access in case of defaults of loans on purchase of EVs, and is expected to bring down the cost of financing for EVs by 10-12%. The risk sharing instrument of $300 million would be institutionalised with SBI, and the funds would be available for all financial institutions to access as a first-loss instrument.

PGCIL board okays Rs 14.23-cr EV charging station, creation of telecom, digital arm
The state-owned Power Grid Corporation of India Ltd’s (PGCIL) board has given the nod to set up an electric vehicle (EV) charging station in Navi Mumbai with an investment of Rs 14.23 crore, as well as creating an arm to take up telecom and digital technology businesses. As per a filing by the Bombay Stock Exchange (BSE), the board approved the investment approval for “setting up of electric vehicle charging station in Navi Mumbai under the FAME India Scheme Phase-II” for the cost mentioned above. A commissioning schedule of 12 months has been set for the charging station. A time frame of 24 months from the date of the agreement signed between PGCIL and the Navi Mumbai Municipal Transport (NMMT) is given for infrastructures like kiosks and toilets.

Bounce confirms acquisition of 22Motors; entry into EV space
Bengaluru-based EV ride-sharing startup Bounce has confirmed the acquisition of 22 Motors, marking its entry into the EV OEM space. Bounce has also announced the creation of its subsidiary, Zuinik, which will focus on converting existing IC vehicles to EVs.

FM Logistic India to deploy 500 EVs in 4 yrs for last-mile delivery
FM Logistic India, one of the youngest 3PL service providers in the country, is planning to deploy 500 electric vehicles (EVs) for last-mile delivery in the next 4 years. According to Alexandre Amine SOUFIANI, MD, FM Logistic India, the addition of EV fleet is an important part of its sustainable omnichannel services from where the company is eyeing to derive 50% of its turnover by 2026.

Maharashtra govt bags Rs 2,800 crore investment for EV manufacturing
The Maharashtra government signed a pact with Causis E-Mobility to set up an electric vehicle (EV) manufacturing facility in the state, making it the first big-ticket investment under the recently announced Maharashtra EV Policy 2021. The investment of Rs 2,800 cr is said to generate 1,250 employment opportunities in the state

Power Global to invest $25 million to set up battery infra facility in India over next 2-3 yrs
US-based clean energy and mobility products start-up Power Global plan to invest around $25 million (around Rs 185 crore) to set up a lithium-ion battery manufacturing unit and battery swapping infrastructure in India over the next two to three years. The company, which is setting up a one-gigawatt hour capacity battery plant at Greater Noida in Uttar Pradesh, is also targeting to retrofit around 8 lakh existing conventional three-wheelers in India for conversion into electric versions.

Investments

DateCompanies involvedPurpose of PartnershipDetails
Oct-21Omega Seiki and Exicom Tele-systemsOmega Seiki Mobility (OSM) has partnered Exicom Tele-systems for lithium-ion batteries for its range of electric L5 cargo vehicles. Under the partnership, Exicom will supply its recently launched 10.8 kW fixed batteries that will provide a range of 120km on full charge and added features of real-time battery analytics, long lifecycle, environment protection and rugged design.Omega Seiki partners Exicom for its li-ion batteries  
Oct-21Tata Motors and BluSmartBluSmart to purchase 3500 Tata XPres-T EV for its fleet in the Delhi-NCR region from Tata Motors Tata Motors to deliver 3500 EVs to BluSmart Mobility for Delhi-NCR  

Source: Industry news articles, JMK Research

Tenders

Tender Name

Tendering Authority

Bid Submission Date

Tender ID

Tender for Empanelment of Charge Point Operators (CPO) for Supply, Installation, Testing, Commissioning, Operation and Maintenance of Electric Vehicle Charging Stations in India on Build, Own and Operate, (BOO) Model

Convergence Energy Services Limited (CESL)

11 November 2021

CESL/06/2021-22/CPO/EVCI/BOO/212210063

Expression of Interest for Development of charging infrastructure in all government & private places in Andhra Pradesh state

New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP)

15 November 2021

NREDCAP/EV/EOI/17-91/2021-22

Procurement, Operation and Maintenance of 15 Midi AC fully Built Pure Electric Buses along with supply, installation and Commissioning of fast Charging Infrastructure on Outright Purchase Basis for Nagpur Urban Region

Nagpur Municipal Corporation Nagpur

22 November 2021

2021_NMCN_730423_1

Operation of Stage Carriage Services for Public Transport of 200 Double Decker AC Electric Buses (With Driver)

Brihanmumbai Electric Supply and Transport (BEST)

29 November 2021

2021_BEST_731449_1

Source: Tendering Authorities, JMK Research

Global Market Updates

Taiwan Battery Unicorn ProLogium Gets $326 Million as EV Race Heats Up
World-leading solid-state battery (SSB) maker ProLogium Technology announced the completion of a US$326 million financing round. The investment will strengthen and accelerate ProLogium’s focus on supplying OEMs for high-performing, safe and affordable EV batteries and accelerate the provision of SSB solutions for ProLogium’s EV strategic partners internationally. dGav Capital managed fund New Epoch Capital LP, Primavera managed fund Carna Investments Holding Limited, and SBCVC managed fund SBCVC Navitas Limited all participated in the round. The funding raised will be invested in the development of mass production facilities for ProLogium SSBs and to implement the company’s global plant expansion plans. The funds will be deployed to expand production capacity in Asia, Europe and the US between 2023 and 2025 to supply the local demands of the major OEMs with high-quality EV batteries. This will accelerate the provision of SSB solutions for ProLogium’s EV strategic partners.

DOE Announces $209 Million for Electric Vehicles Battery Research
The U.S. Department of Energy (DOE) announced $209 million in funding for 26 new laboratory projects focusing on electric vehicles, advanced batteries and connected vehicles. Advanced, lithium-based batteries play an integral role in 21st century technologies such as electric vehicles, stationary grid storage, and defense applications that will be critical to securing America’s clean energy future. Additionally, DOE’s Argonne National Laboratory announced the Li-Bridge, a new public-private partnership to bridge gaps in the domestic lithium battery supply chain.

Stellantis, TheF Charging team up for EV charging network in Europe
Global automaker Stellantis NV has agreed a partnership with Italian e-mobility startup TheF Charging to create a European public charging network accessible to all electric vehicles. Under the partnership, the companies will jointly develop quick charging points in over 15,000 locations with 2 million parking spaces across Europe until 2025. The network, which will reserve exclusive conditions for Stellantis customers, is expected to be operational in 2021, with the first charging stations to be built in Italy.

Amazon-backed EV maker Rivian discloses nearly $1 bln losses in IPO filing
Rivian Automotive, backed by Amazon.com Inc and Ford, disclosed losses of nearly $1 billion in the first half of the year. The company has been investing aggressively in ramping up production of its electric vehicles, including its upscale all-electric R1T pickup truck which was launched last month beating out competition from more established rivals, such as Tesla Inc, General Motors and Ford.

With help from Tesla, nearly 80% of Norway’s new car sales are electric
Demand for Tesla Inc’s mid-sized models helped push up electric car sales in Norway to nearly 80% of total car sales last month. The country has been a global leader in switching to electric vehicles and seeks to become the first to end the sale of petrol and diesel engines by 2025. Battery electric vehicles made up 77.5% of all new cars in September, the Norwegian Road Federation (OFV) said, up from 61.5% a year ago. Tesla Model Y, a compact sports utility vehicle, was the top selling vehicle with 19.8% of the car market followed by the company’s Model 3 sedan with 12.3%. Skoda’s Enyaq was a distant third at 4.4%. By exempting fully electric vehicles from taxes imposed on those relying on fossil fuels, oil-producing Norway has become a leader in ending the use of combustion engines, and in 2020 EVs outsold all other cars for the first time.

EV battery maker CATL plans $5- billion China recycling facility
Contemporary Amperex Technology Co Ltd plans to build a battery material recycling facility in the central Chinese province of Hubei with an investment of up to 32 billion yuan ($4.96 billion). The company’s announcement comes at a time when global demand for electric vehicles has surged, which makes securing battery materials a key task for the industry. China, the world’s biggest car market, has also set standards and policies to promote battery recycling and save materials. A CATL unit will form a joint venture with Hubei Yihua Chemical Industry Co Ltd to recycle used EV batteries for chemicals such as cobalt and lithium, the company said in a filing

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