Costing EUR40m, the production area has grown from 7,000 to 18,000 square metres to fulfil EUR2 billion worth of new contracts from vehicle manufacturers.

A new one million sq. ft. site will house some 6,500 employees and will predominantly be responsible for automotive research and development (R&D) housing hi-tech hardware, software and vehicle testing facilities.

DICV will partner with IITMIC to identify, mentor, and provide opportunities to Indian technology start-up companies which will work towards finding new solutions for the Indian mobility space, in the years ahead.

Atlis says it has raised USD10 million (up to USD9 million net after expenses) in funds through the sale of a financial instrument called a Promissory Note to a private investment company, Maxim Group LLC.

The company announced a USD4m investment in a new powertrain test facility located at its engineering centre in Michigan, as well as a GBP15m total investment in two test facilities in Northampton, UK.

The grant, which Microvast received following a joint application with automotive corporation General Motors Company, was awarded from a USD2.8bn fund which came out of the U.S. government’s Bipartisan Infrastructure Law.

Farizon Auto, the new energy commercial vehicle brand name of Zhejiang Geely New Energy Commercial Vehicle Group (a subsidiary of Zhejiang Geely Holding Group of Hangzhou), has raised USD300m in a pre-A round of fundraising, which it said will be used to strengthen its range of low- and zero-emission vehicles.

The brake manufacturer has recommitted itself to its decarbonisation effort by issuing a EUR 700 million Sustainability-Linked Bond (SLB) at the European debt capital markets day in September this year.

In October, Volkswagen published an updated ‘Green Finance Framework’, an outline for issuing green bonds which incorporates up-to-date EU taxonomy for sustainable activities.

EnergyAustralia has outlined plans to support heavy vehicle electrification by working with heavy-duty truck and bus operators to plan and build the infrastructure to charge their fleets.

Brembo’s new division, Brembo Ventures, will invest in technology start-ups in artificial intelligence, big data, sensors, mechatronics, energy efficiency and sustainability to find new solutions applicable for the automotive industry.

The company has amalgamated two locations responsible for the design, assembly, testing and installation of its products under one roof.