The EUR 75 million takeover of Eldor’s EHS segment, includes, on-board chargers (OBCs), DC/DC converters, and integrated high voltage boxes, all of which are expected to complement BorgWarner’s existing product portfolio.

The capital is to be invested in its factory in the North East of the UK, creating 40 new jobs over the next two years. According to AEM, the capital will enable the company to start producing copper-free EV motors for both passenger and commercial vehicles. 

The partners plan to initially invest a combined USD2.64bn to build a facility with a production capacity of 21 gigawatt hours (GWh) of batteries per year for commercial and industrial vehicle applications.

Around GBP600m has been committed by KKR & Co Inc, and a further GBP270m is being invested by one of Zenobē’s existing shareholders, Infracapital.

The significance of this investment for InoBat is that this will provide access to Gotion's research and development, its raw materials (lithium etc.) supply chain, cell production and recycling capabilities which will accelerate InoBat’s path to series and large-scale production of battery cells.

Altogether, the bus and coach group will raise gross proceeds of approximately USD444m through the refinancing plan.

KG Mobility (known previously as Ssangyong Motor Company), has bought electric commercial vehicle manufacturer, Edison Motors Company, and will change the name to KGM Commercial.

Now a joint venture called ‘Gaussin Macnica Mobility’ (GMM), Navya has received its first customer order since the liquidation of its assets.

The company halted production at its joint venture plant in the Russian city of Ulyanovsk in March 2022.

Hydrogenics’ fuel cell and electrolyser capabilities will be incorporated within Cummins’ new business unit for zero-emission technologies called ‘Accelera’.

Coliseum Capital Management already holds 12.4% of NFI’s issued and outstanding common shares; following the closure of the private placement on 30 June, the investment firm will own over a third of all NFI’s shares.

Iveco Group will acquire the joint-venture manufacturing facility in Ulm, which was opened in 2021 for the assembly of Nikola ‘Tre’ battery- and fuel cell-electric trucks for the European market.