The site houses the battery R&D centre (InnoLab Battery) and the manufacturing component, which is currently producing battery cells and packs on a prototype line in order to acquire the necessary knowledge before series production in the second half of the decade can commence.

The company has raised USD 483 million by creating an additional 134,166,667 shares of its Class A common stock at USD 3.60 per share. These funds will help the company continually develop and bring to market its level 4 autonomous truck driving software (Aurora Driver).

This deal will create significant revenues for Ceres through licensing fees, royalty payments, engineering services and hardware over multiple years. The majority of the revenue generated will come through royalty payments on any hydrogen delivered to the end customers.

Already based in Seville, the company, over the next twelve months, will move into a new 36,000 square-metre facility, of which 14,000 square-metres is warehouse space with a 2,500 square-metre office.

The sale is still pending regulatory approval and is expected to close by Q1 2025. This is part of Goodyear’s plan to cut costs by streamlining its business operations.

The company will use the funds to add automation capabilities to the production lines by introducing robots. This will increase the production capacity of its Zielona Góra factory, in order to meet the growing demand for EV chargers in Europe.

Two battery packs were introduced under the new CATL Tianxing brand name.

This will create a network of green hydrogen production facilities for various purposes (international shipping, trucking etc). This aligns with California’s plans to cut CO2 emissions by two million tonnes annually and reach carbon neutrality by 2045.

Now, in an attempt to plug the hole in the budget sheet by producing more buses and therefore fulfilling orders, the company is re-introducing the use of contract manufacturing through assembly partners in China to aid the main factory in Deurne.

The company was previously occupying a shared facility with Mercedes-Benz Passenger Cars. The new premises was already home to Daimler Truck UK’s parts logistics centre with a 140,000-square-foot warehouse. 

Volvo states that this offering is tailored specifically for the Brazilian market and aligns it with its commitment to reducing carbon emissions in the transportation sector.

2023 saw the company planned to invest USD 530 million in the development of hydrogen technologies to create a complete hydrogen value chain from the production, distribution (storage tanks), consumption (hydrogen engines) and management (telematics) of green hydrogen at scale.