Technology 

Factbox: Corporate investments in EV startups

(Reuters) – Corporations across a variety of industries – auto, energy, electronics, aerospace, telecom – have invested in startup companies engaged in various aspects of automotive electrification, including batteries, charging devices and complete vehicles. FILE PHOTO: An electric car is seen while being charged during the opening of a PTT Pcl energy firm’s commercial EV (Electric Vehicle) charging station, in Bangkok, Thailand, August 15, 2016. REUTERS/Jorge Silva Here is a short list of prominent non-automotive corporate investors and the electrification startups they have funded: Intel Corp (technology): Prieto, Qnovo, Enovix,…

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Exclusive: GM’s Cadillac will introduce EV in fight against Tesla – sources

WASHINGTON (Reuters) – Cadillac is expected to become General Motors Co’s (GM.N) lead electric vehicle brand as the largest U.S. automaker gears up to introduce a new model under that luxury marquee to challenge Tesla Inc (TSLA.O), two people briefed on the matter said Thursday. The Cadillac booth displays the company logo at the North American International Auto Show in Detroit, Michigan, U.S., January 16, 2018. REUTERS/Jonathan Ernst GM is set to announce Friday as part of an investor update that a Cadillac will be the first vehicle based on…

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Construction on $4 billion Indonesia EV battery project begins Jan 2019: minister

JAKARTA (Reuters) – Developers will begin building a lithium battery project in Morowali, on the Indonesian island of Sulawesi, on Jan. 11, Coordinating Maritime Minister Luhut Pandjaitan said on Friday. The $4 billion project involves investors from South Korea, Japan and China, Pandjaitan told reporters, without naming the companies involved or providing further details on the project. “Looking at its resources, Indonesia will become the main player in lithium batteries,” Pandjaitan told reporters, referring to forecasts for surging demand for batteries for electric vehicles. Major nickel producers have already been…

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Technology 

U.S. chipmaker Nvidia to provide AI platform for Chinese EV start-ups

FILE PHOTO: Jensen Huang, CEO of Nvidia, reacts to a video at his keynote address at CES in Las Vegas, Nevada, U.S. January 7, 2018. REUTERS/Rick Wilking BEIJING (Reuters) – U.S. chipmaker Nvidia Corp (NVDA.O) has signed separate deals with Chinese electric vehicle startups XPeng Motors, Singulato Motors and SF Motors to develop autonomous driving technology, Chief Executive Jensen Huang said on Wednesday. Huang, speaking at an event in the eastern Chinese city of Suzhou, said XPeng and Singulato will use Nvidia’s artificial intelligence (AI) driving chip Xavier and its…

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Chinese EV startup WM Motor raising at least $288 million from Baidu, others: sources

HONG KONG (Reuters) – Chinese electric vehicle (EV) startup WM Motor Technology Co Ltd aims to raise at least 2 billion yuan ($288.33 million) in its latest funding round to finance growth, valuing the nearly four-year-old firm at over 20 billion yuan, two people told Reuters. FILE PHOTO: WM Motor’s founder and CEO Freeman Shen and Vice President of Strategic Planning, Lobo Lu attend the WM Motor brand launch event in Shanghai, China, December 11, 2017. REUTERS/Aly Song/File Photo The fundraising comes as China’s government promotes new energy vehicles (NEVs),…

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BASF and Nornickel join forces in European EV battery push

FRANKFURT/MOSCOW (Reuters) – Germany’s BASF (BASFn.DE) and Russian miner Norilsk Nickel (Nornickel)(GMKN.MM) have struck a nickel and cobalt supply deal to meet growing demand for electric vehicle (EV) batteries. FILE PHOTO: Flags of the German chemical company BASF are pictured in Monheim, Germany April 20, 2012. REUTERS/Ina Fassbender/File Photo Underpinned by a new BASF cathode plant in Finland, the agreement could provide fresh impetus to European efforts to create battery cell manufacturing capacity in a market dominated Chinese and Korean producers. Chemicals giant BASF will build a plant to produce…

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ChargePoint to grow global EV charging network to 2.5 million

FRANKFURT (Reuters) – ChargePoint, operator of one of the world’s largest charging station networks for electric vehicles (EV), is targeting a near fifty-fold increase in its global network of loading spots by the middle of next decade, it said on Friday. A ChargePoint station on display at the Frankfurt Motor Show (IAA) in Frankfurt, Germany, September 12, 2017. REUTERS/Christoph Steitz The group, in which German companies BMW, Daimler and Siemens hold stakes, aims to operate 2.5 million charging points by 2025, up from a network of around 53,000 currently, it…

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Suzuki to start testing EV prototype in India from October: chairman

NEW DELHI (Reuters) – Japans’s Suzuki Motor Corp will start testing prototypes of electric vehicles in India by October, its chairman said on Friday. FILE PHOTO The logo of Suzuki Motor Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. REUTERS/Toru Hanai/File Photo “We will start road-running tests using a fleet of 50 EV prototype vehicles in India from next month in order to develop safe and easy-to-use EVs for Indian customers,” Osamu Suzuki said at the Global Mobility Summit at New Delhi. The…

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VW’s Electrify America taps Flintstones, Jetsons for EV campaign

DETROIT (Reuters) – Volkswagen AG <VOWG_p,DE> unit Electrify America said on Monday it is launching a national advertising campaign using cultural U.S. cartoon icons the Flintstones and Jetsons in a bid to broaden consumer awareness of electric vehicles. The campaign here is part of $45 million public education program and includes a television commercial called “JetStones,” which features General Motors Co’s fully-electric Chevy Bolt model and includes existing models from five other automakers. The aim of the “brand neutral” campaign is to raise awareness of existing EV models, emphasize their…

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Two Chinese EV sharing platforms in $730 million push to fuel growth: sources

HONG KONG (Reuters) – Two electric vehicle-sharing platforms backed by powerful Chinese carmakers plan to seek external funding totaling almost $730 million to fuel their growth, people with direct knowledge of the plans said. Men look at an electric vehicle of Caocao Zhuanche, a chauffeur ride-hailing platform backed by Zhejiang Geely Holding Group, at a new energy vehicle (NEV) trade fair in Zhengzhou, Henan province, China September 23, 2016. REUTERS/Stringer The moves come as Beijing continues its push into the new energy vehicle (NEV) sector as part of efforts to…

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