McGill’s Group has announced plans for a new £25m bus and coach depot in Glasgow, marking a significant step in its expansion strategy. This depot will be built on a newly acquired 6.55-acre brownfield site in the Tradeston area, just 1.5 miles from the city centre. The location offers excellent transport connectivity, including access to major motorways, a nearby subway station, and existing staff facilities. The investment is expected to create up to 850 jobs and will support McGill’s growing operations, including its coach fleet expansion to 300 vehicles. The depot will also play a strategic role if bus franchising is introduced in Strathclyde. The company emphasised that the depot fits within its 3-year growth plan and reflects its commitment to public transport in Scotland. Over the past 5 years, McGill’s has expanded into multiple cities, including Dundee, Stirling, Falkirk, Edinburgh, Livingston, Aberdeen, and Inverness. The new Glasgow depot will not impact operations at existing sites and is part of a broader strategy involving further acquisitions and property investments. The project is positioned as both a business growth initiative and a catalyst for urban regeneration in Tradeston.
Sherbet has announced it has secured (up to) £40m in growth capital from Hoplon Investment Partners. This marks one of the largest single investments in the history of the licensed London taxi trade. Sherbet operates a fast-growing fleet of electric black cabs and aims to expand from 550 to 3,000 vehicles over the next 3 years. The funding will support fleet expansion, technological upgrades, and the development of a comprehensive driver platform offering bookings, data insights, advertising opportunities, and analytics to boost driver earnings and job security. Furthermore, Sherbet also plans to launch a Knowledge School to train new drivers and improve accessibility for disabled passengers, particularly wheelchair users. Sherbet described the investment as a pivotal moment for modernising the iconic black cab industry, blending heritage with innovation. Hoplon’s support will also help Sherbet explore international expansion opportunities.
Atome has announced it has signed a landmark 10-year offtake agreement with global fertiliser giant Yara for green hydrogen-based fertilisers produced at its 145MW Villeta project in Paraguay. Under the binding deal, Yara will purchase 100% of the green calcium ammonium nitrate output from the facility, marking the final commercial milestone before Atome proceeds with its final investment decision. This agreement positions Atome (potentially) as a key player in the green hydrogen economy, with Yara’s commitment validating the project's market potential and premium value proposition. The Villeta plant will use renewable hydropower from the Itaipu Dam to produce green hydrogen, which will then be converted into fertiliser, offering a low-carbon alternative to conventional products. Atome and Yara plan to collaborate closely to maximise the reach and impact of the green fertiliser, aligning with global sustainability goals. The deal also signals growing momentum in green hydrogen adoption across industrial sectors, particularly agriculture.
Toyota has announced it has launched its next-generation e-Palette, a versatile battery electric vehicle designed to redefine urban mobility. Engineered for multi-use applications, the e-Palette can function as a shuttle bus during peak hours and transform into a mobile store or service space while charging during off-peak times. Its spacious interior, large windows, and modular design make it adaptable for various services, including entertainment and retail. Accessibility is a key focus, with features such as a low floor, wide sliding doors, and an electric ramp that adjusts height, allowing wheelchair users to board independently. The vehicle supports Level 2 automated driving and is designed to accommodate Level 4 autonomy by 2027. It includes a Steer-by-Wire system for enhanced driving comfort and safety features such as cabin monitoring and safe-exit assistance. The e-Palette will be deployed in Toyota Woven City and Toyota Arena Tokyo, serving as both a transport solution and mobile retail unit. Toyota envisions the e-Palette as a cornerstone of its mobility strategy, aiming to create a society where movement, both physical and emotional, is universally accessible.
Magna has announced it has partnered with XPENG to assemble 2 new EV models for the European market. This collaboration marks the 1st time a Chinese automaker will utilise Magna’s complete vehicle assembly operations in Graz, Austria, for localised production. Serial production is scheduled to begin in Q3 25. The partnership reflects a growing trend among Chinese carmakers to expand into Europe and meet the increasing demand for local manufacturing solutions. It also establishes a long-term collaboration between the two companies, with potential for future model development. Magna brings over 125 years of automotive expertise, having engineered more than 40 complete vehicles and produced over 4 million units. This alliance positions XPENG to accelerate its market entry into Europe, leveraging Magna’s advanced facilities and experience to deliver smart, locally produced EVs tailored to European consumers.
The Scottish Government has announced it has allocated £20m for FY25/26 through its newly established Bus Infrastructure Fund, replacing the previously suspended Bus Partnership Fund. This initiative aims to enhance bus services across Scotland by improving infrastructure, accessibility, and reliability. The fund operates on a two-tier model: Tier 1 prioritises areas affected by transport poverty, particularly rural and deprived communities, while Tier 2 supports voluntary bus partnerships that were active under the former (aforementioned) scheme. The funding will assist local authorities and regional transport partnerships in collaborating with bus operators to deliver projects such as bus lanes, signal priority systems, and accessible transport hubs. A key focus is on reducing journey times and improving integration with other transport modes. Glasgow is among the beneficiaries, with plans to develop 2 new bus corridors and upgrade passenger facilities on Hope Street. Additionally, a pilot project will explore the use of AI to optimise traffic signals and enhance bus reliability. Industry stakeholders, including the Confederation of Passenger Transport Scotland and First Bus Scotland, have welcomed the fund, highlighting its potential to improve service efficiency materially. The new fund aims to ensure equitable regional development and continuous stakeholder engagement to maximise community benefits.
Deals
Lucid Group has announced it has officially closed a $300m strategic investment from Uber Technologies to develop a next-generation autonomous robotaxi program. This partnership combines Lucid’s advanced EV platform with Uber’s global ride-hailing network, aiming to launch a premium autonomous mobility service. The robotaxi will be built on Lucid’s Gravity platform, known for its long-range capabilities and redundant control systems, and will integrate the Nuro Driver Level 4 autonomy system. Manufacturing will take place at Lucid’s Arizona facility, with the vehicles operating exclusively on Uber’s platform. Uber plans to deploy over 20,000 of these robotaxis within 6 years, starting in a (not yet announced) major USA city by late next year. The initiative is designed to deliver scalable, safe, and comfortable autonomous ride-sharing experiences. Lucid highlighted the investment as a strong validation of Lucid’s technological leadership in the EV space. The company emphasised the potential for further collaboration with Uber and other partners to expand into new markets and applications. The deal marks a significant milestone in the evolution of autonomous transport.
PeakAmp, a Gurgaon-based battery recycling startup, has secured c.$1.37m in seed funding led by Caret Capital, with participation from IIM Ahmedabad Ventures and angel investor Basant Sharma. PeakAmp aims to build India’s first full-stack lithium-ion battery recycling platform. The company offers services including battery collection, segregation, second-life repurposing, and material recovery, achieving over 99% efficiency in extracting lithium, nickel, and copper. This funding will support PeakAmp’s expansion as it addresses the growing gap between India’s current battery recycling capacity and future demand, driven by the rapid growth of the EV market. India’s EV sector is projected to grow from $35bn in 2024 to $111bn by 2029, with over 80 million EVs expected on the roads. PeakAmp has built partnerships across the battery supply chain and operates a reverse-logistics network for transporting end-of-life batteries. It also uses diagnostic technology to assess battery health for reuse. The startup envisions becoming the benchmark for responsible, data-driven battery recycling in India.
SnapE Cabs, an Indian electric mobility startup, has raised $2.5m in a bridge funding round led by Inflection Point Ventures, with participation from Ah Ventures and angel investors. The funds will support expansion in Delhi, leasing of EVs, and product enhancements. SnapE operates over 1,100 EVs and has completed more than 3.2 million rides, with recent growth driven by a partnership with Rapido that deployed 200 EVs in Delhi. SnapE’s supply-led model focuses on fleet expansion rather than demand generation, addressing a significant supply-demand gap in India’s ride-hailing market. The company fulfils only 2,500–3,000 of 12,000–15,000 daily ride requests, highlighting unmet demand. This approach has enabled SnapE to achieve profitability from day one in Delhi. With operating costs 60–70% lower than traditional cabs and a 90% rider retention rate, SnapE reached EBITDA-positive status in January 2025. As India targets 30% EV adoption by 2030, SnapE is well-positioned to benefit from regulatory support and cost advantages, making it a strong contender in the evolving ride-hailing landscape.
LeydenJar, a Dutch battery startup, has raised €13m alongside a €10m commitment from a USA consumer electronics company to scale production of its silicon anode battery technology. The funding will support the construction of PlantOne, its first manufacturing facility in Eindhoven, pencilled in to open in 2027. This potentially could disrupt China’s dominance in lithium-ion battery production, which currently relies heavily on graphite anodes. LeydenJar’s pure silicon anodes promise a 50% energy density boost over traditional graphite, thus enabling faster charging and a lower carbon footprint. The company uses plasma vapour deposition to grow spongy silicon columns on copper sheets, thus allowing the material to expand and contract without degrading. While the technology can endure over 450 charge cycles before dropping below 80% capacity, it still falls short of the 1,000 cycles required for EVs. Initially targeting consumer electronics, LeydenJar plans to enter the EV market later. If successful, LeydenJar’s technology could reshape the global battery supply chain and offer a viable alternative to Chinese-made components.