Chinese carmaker BAIC Group and US-owned Chinese battery firm Funeng Technology (Ganzhou) are to invest a total of CNY10 billion ($1.2bn) to launch a batteries plant for new energy vehicles in Shunyi, Bejing.
Israeli start-up StoreDot has raised a further $60 million to support the scaling-up of its electric vehicle (EV) fast-charge FlashBattery technology in a third round of funding led by the truck division of Germany’s Daimler.
South Korea is backing plans by the country’s battery giants to inject a total of KRW2.3 trillion ($2.3 billion) into the sector over the next three years, to expand production and challenge China’s increasing dominance of the market.
The US arm of Germany-based power group E.ON has started building two additional lithium-ion battery storage facilities in the US— co-located at the company’s Pyron and Inadale wind farms in West Texas.
Swiss watchmaker Swatch expects to get the green light for its newly-developed car batteries to be used in electric vehicles made by Chinese automaker and joint-venture partner Geely next year, according to a report.
Maritime energy storage firm Corvus Energy is to supply its lithium-ion battery storage products to Norwegian maritime electronics firm, Elmarin AS, for three new fishing vessels with battery-based hybrid propulsion.