Contemporary Amperex Technology Co. Ltd. (CATL) has announced plans to raise approximately $4bn through an IPO in Hong Kong. The funds will be used to expand CATL's production capacity and invest in R&D to maintain its competitive edge in the global battery market. CATL is a major supplier of batteries for EVs and energy storage systems, serving prominent clients such as Tesla, BMW, and Volkswagen. The company aims to leverage the IPO proceeds to enhance its technological capabilities and meet the growing demand for high-performance batteries. The IPO is part of CATL's broader strategy to diversify its funding sources and strengthen its financial position amid increasing competition in the battery industry. The company has been proactively expanding its global footprint, with new production facilities in Europe and North America. This move underscores CATL's commitment to driving innovation in the clean energy sector and supporting the transition to sustainable transportation solutions.
Rivian has announced it is investing $120m to establish a new supplier park near its existing plant in Normal, Illinois. This strategic move aims to enhance production capabilities for Rivian's EVs, including the R1S SUV, R1T truck, Amazon Electric Delivery Van, and Rivian Commercial Van. The supplier park will bring key suppliers closer to the main plant, improving supply chain efficiency and reducing shipping, logistics, and warehousing costs. The knock-on impact of this project is expected to create several hundred supplier jobs and c.100 direct Rivian jobs. An underground tunnel will connect the supplier park to the main plant, streamlining part transfers and minimising local traffic impact. The 1.2 million square foot facility is already under construction, with completion pencilled in for 2026. Furthermore, Rivian is expanding its main plant by 1.1 million square feet to prepare for R2 model production starting in 2026. The state of Illinois is supporting the project with incentives and tax credits, while the town of Normal is contributing through road upgrades and utility cost assistance. This expansion is set to bolster Rivian's role in the clean energy economy and drive economic growth in Central Illinois.
AESC has announced it has secured $1.3bn in funding to build a new EV battery plant in Sunderland. With support from the UK government, the Japanese-headquartered company, which has partial Chinese ownership, will be able to set up tooling and begin battery production at the facility. This new gigafactory is expected to create over 1,000 jobs and power 100,000 EVs annually, significantly boosting the UK's current capacity. The investment includes financial guarantees from the National Wealth Fund and UK Export Finance, unlocking £680m, with an additional £320m in debt funding from private financing and new equity. The new plant will have a capacity of up to 15.8 GWh once fully operational. This project aligns with the UK’s goals for sustainable transport and economic growth, providing high-quality jobs and supporting the transition to a low-carbon economy. AESC emphasised the importance of this investment in accelerating the move to more sustainable transport and creating a resilient supply chain. The gigafactory will play a crucial role in retooling the UK car industry for net-zero emissions.
Wrightbus announced it has secured a £150m funding package from HSBC UK to boost production at its facilities in Northern Ireland and Malaysia. This significant investment will enable Wrightbus to increase the manufacturing capacity of its zero-emission buses, supporting the company's growth and commitment to sustainable transportation. The funding will be used to enhance production capabilities, streamline operations, and expand the workforce. Wrightbus aims to meet the rising demand for electric and hydrogen-powered buses, which are crucial for reducing carbon emissions in public transport. The company has already achieved a milestone of 50 million zero-emission miles, demonstrating its leadership in the green mobility sector. This financial boost from HSBC UK will also support Wrightbus's ongoing net-zero efforts, ensuring the development of advanced, eco-friendly bus technologies. The investment aligns with global trends towards cleaner, more efficient public transportation solutions and positions Wrightbus as a key player in the transition to zero-emission vehicles.
US Transportation Secretary Sean P. Duffy has announced more than $3.2bn in infrastructure grants for 180 projects across the country. These grants aim to improve transportation systems, enhance safety, and support economic growth. The funding will be allocated to various initiatives, including road and bridge repairs, public transit enhancements, and the development of bike and pedestrian pathways. Key projects include the modernisation of ageing infrastructure, expansion of transit services in underserved areas, and the implementation of advanced technologies to improve traffic management. Furthermore, the grants will also support efforts to reduce carbon emissions and promote sustainable transportation solutions. Secretary Duffy emphasised the importance of these investments in creating jobs, boosting local economies, and ensuring safer, more efficient transportation networks. The funding is part of a broader strategy to address the nation's infrastructure needs and transition to greener, more resilient systems. This announcement marks a significant step towards revitalising America's transportation infrastructure and fostering long-term economic development.
Pando Electric has secured a $5.4m grant from the California Energy Commission to expand its EV charging infrastructure. The funding will enable the deployment of over 1,600 smart EV charging stations across California, focusing on multifamily housing. This initiative aims to address the critical need for accessible and affordable EV charging solutions in those communities. Pando Electric's approach offers high-power, smart Level 2 charging outlets that reduce installation and maintenance costs, thus making EV charging more affordable and reliable. The project is supported by partnerships with Prospect Silicon Valley, Redwood Energy, Community Boss, and the International Brotherhood of Electrical Workers, ensuring high-quality installations and integration with property management solutions. The deployment of these charging stations is set to begin later this year, with installations planned in both urban and rural communities across the state. This expansion will help future-proof properties, meet rising tenant expectations, and support California's transition to zero-emission vehicles. Pando Electric emphasised the importance of making EV infrastructure scalable and accessible for all Californians.
Deals
Routematic, an Indian-based corporate solutions provider, has secured $40m in a Series C funding round, led by Fullerton Carbon Action Fund and Shift4Good. The company plans to use this new capital to scale its operations across India's top 5 cities, aiming for a fleet size of 10,000 vehicles by March 2026. Additionally, Routematic intends to convert 30% of its fleet to EVs. The company has established city-level command centres in Bengaluru, Pune, and Hyderabad, with plans to expand to Delhi-NCR. These centres will enhance operational oversight and cost efficiency for enterprise clients. Routematic's hybrid model combines AI-powered SaaS-based transport management software with Transport-as-a-Service, enabling organisations to manage logistics using Routematic’s fleet or through managed transport operations. Currently, Routematic serves over 300 enterprises across 23 Indian cities, facilitating about 5 million trips per month for more than 300,000 employees. This latest funding round will help Routematic strengthen its leadership in sustainable corporate mobility.
Breathe Battery Technologies, a London-based battery performance startup, has raised $21m in a Series B funding round led by Kinnevik Online AB. The funding will support the company's mission to enhance battery performance and lifespan through its proprietary software solutions. Breathe's technology optimises battery management systems, making them more efficient and reliable for applications in EVs, consumer electronics, and energy storage systems. The company plans to use the new capital to expand its team, accelerate product development, and scale its operations globally. Breathe aims to address the growing demand for high-performance batteries, driven by the increasing adoption of EVs and renewable energy solutions. The company aims to improve energy density, safety, and overall performance.
Nawgati, an Indian fuel aggregator startup, has raised $2.5m in a pre-Series A funding round led by angel investor Ajay Upadhyaya. Investors such as Vivek Mathur, Aamara Capital and MeitY Startup Hub also participated. The funds will be used to expand Nawgati's operations and enhance its technology platform, which aims to streamline fuel delivery and management for businesses across India. Nawgati provides a digital solution for fuel procurement, helping companies reduce costs and improve efficiency. The startup plans to use the new capital to scale its services to more cities and develop new features for its platform. The startup’s approach has already attracted a significant customer base, and this funding will support its growth and further development in the competitive fuel management market.
Busup, a Barcelona-based corporate and school shared mobility platform, has raised €2.84m in funding to expand its corporate shuttle services. True Global Ventures invested through its Opportunity Fund (TGV5), further demonstrating its ongoing commitment after an initial €1.1m investment via TGV4. Busup plans to use the funds to enhance its technology platform and scale its operations in Europe and Latin America. BusUp currently offers a flexible and cost-effective shuttle service for companies, helping them reduce transportation costs and improve employee satisfaction. The company uses a data-driven approach to optimise routes and schedules, ensuring efficient and reliable service. With this new funding, BusUp aims to strengthen its market position and continue developing solutions in the corporate mobility sector.