The round was led by America venture capital firm, Ecosystem Integrity Fund (EIF) of Sacramento, California, with participation from Blume Ventures of Mumbai, India and British International Investment Plc of London, UK (BII).

While the exact financial details of this investment have not been publicly disclosed, it is part of HVS's ongoing efforts to attract outside investment after the company announced last year it was desperately seeking Series B funding as it slimmed down operations of its attribute prototype (AP) build.

T&BB spoke to Vanessa Kelly, Head of Corporate Relations of HVS at Cenex 2024 to learn that HVS is entering another funding (Series B) round in October this year as the engineers continue to forge ahead with its attribute prototype (AP) build.

The Series B investments bring the Canadian startup’s total invested capital to USD280m.

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.