The MoU outlines an investment over a span of five years, with the potential to generate up to 5,000 jobs, both directly and indirectly.

The plant is to have the capacity to produce 2,500 buses annually, but has been designed with the opportunity to double this, when required.

The facility is fully digitally controlled and is equipped with advanced storage systems, including gravity spiral and vertical reciprocating conveyors.

ULEMCo plans to put the money towards its existing R&D into new fuel cell electric and hydrogen combustion projects, as well as its proven dual fuel technology.

The company has invested GBP 700,000 in a new automated curtain strapping machine for producing max height curtains. The company said the investment offers improved efficiency and vastly increased throughput with the machine able to produce 32 pairs of curtains per day.

The company’s four other Re.Wi.Re registered vehicle scrapping facilities are in Jaipur, Bhubaneshwar, Surat and Chandigarh.

A year ago in 2023, Blue Energy Motors raised USD10m for investing in gas truck manufacture.

With Thermo King’s expertise in electrifying transport refrigeration, the partners aim to achieve reduced fuel consumption in diesel truck-trailers and increased range in electric combinations.

Allison has invested USD 10 million in fellow American VC firm, EnerTech Capital, which focus on helping develop companies that specialise in mobility technologies. A strategic move by Allison, which aims to leverage these technologies (electrification, connectivity, autonomy and digitalisation) and integrate them into its own business.

The EUR3m investment into Zepp has come from an “energy transition” fund provided by the City of Rotterdam and an unnamed private investor who is “deeply embedded in the Rotterdam tech scene”.

In order to execute its long term strategy, the business has relocated its head office to Birmingham, MI.

Customers (workshops and fleet operators) in Continental Europe can now purchase more than 300 branded truck parts, covering over 80 percent of common wear parts on trucks, through the Krone website.