The investment will fund the further development of Range Energy’s electric axle technology for semi-trailers, which can reduce fuel consumption in a diesel tractor-trailer combo or energy consumption in a fully-electric one.

Farizon plans to use the funds to strengthen its R&D and new product development operations, as it looks to consolidate its position as China’s leading manufacturer of new energy commercial vehicles.

VKTR raises IDR 875bn (USD59m) through the floatation of 20% of its equity on the country’s main IDX exchange.

Renault Trucks has stated that CampX Lyon will cater exclusively to start-ups with new ideas for decarbonisation, urban logistics, and vehicle uptime.

The American retrofit firm raised over USD20m in the first tranche of a funding round led by Texas-based Reynolds Capital, the investment arm of dealership software firm The Reynolds and Reynolds Company.

Entrepreneurs and representatives of start-ups are given access to engineers and mentors from Volvo who help them to bring their product and service concepts to market.

Waabi has developed an autonomous driving program which it taught using its own simulation software, which provides a set of driving scenarios to actively teach and assess AI drivers.

Scania has issued a green bond worth SEK3bn to support further investments into electrification, and it has launched a venture capital fund totalling SEK2bn to support fledgling tech firms in the vehicle industry. 

The manufacturer of electric terminal tractors has raised a total of USD35m in investments to support the company’s growth, following an institutional funding round led by venture capital firm S2G Ventures and private investment firm Henry Crown and Company.

An undisclosed sum has been invested in Optibus, a software developer specialising in public transportation management tools for planning workable routes, timetables and rotas.

The corporate venture capital fund of Scania has made an investment in logistics software company Parcelly Ltd for an undisclosed sum.

Allison Transmission Inc, headquartered in Indianapolis, Indiana, has invested in venture capital firm Autotech Ventures, based in Silicon Valley, California.