Stellantis has announced it is partnering with Texas-based Zeta Energy to develop lithium-sulphur batteries, intending to halve the cost of EV batteries by 2030. This collaboration seeks to address the high costs and weight of current lithium-ion batteries, offering a more affordable and efficient alternative. Lithium-sulphur batteries promise comparable energy density to lithium-ion cells but at a significantly lower price per kilowatt-hour, driven by inexpensive sulphur. The new batteries are expected to enhance charging speeds by up to 50% and reduce the overall weight of battery packs, making EVs more efficient and cost-effective. Stellantis plans to use existing battery factories for production, ensuring a localised supply chain within Europe or North America. This initiative builds on Stellantis' previous investments in lithium-sulphur technology, including a partnership with Lyten. The development of lithium-sulphur batteries is seen as a crucial step towards making EVs more accessible and sustainable, aligning with Stellantis' broader strategy to advance electric mobility. The partnership with Zeta Energy underscores the potential of lithium-sulphur technology to boost the EV market by the end of the decade.
UCLA, in collaboration with Electreon, has secured $19.8m from the California State Transportation Agency’s Transit and Intercity Rail Capital Program to develop California's first wireless charging road. This project will enable UCLA's BruinBus fleet to charge while driving, significantly enhancing the efficiency and sustainability of campus transportation. The grant will support the installation of inductive charging coils beneath the road surface along key routes on UCLA's campus. These coils will wirelessly transfer energy to the buses as they pass over them, allowing continuous charging without the need for traditional plug-in stations. This technology aims to reduce downtime for charging and increase the operational range of electric buses. In addition to the in-road charging system, the project includes the expansion of UCLA's electric bus fleet, adding 8 new electric buses to the existing 5. The initiative is part of UCLA's broader efforts to transition to a fully electric transit system in time for LA's 2028 Olympic and Paralympic Games. This project represents a significant step towards sustainable urban mobility, reducing greenhouse gas emissions and promoting cleaner, more efficient public transportation.
The US Department of Energy has committed to a $7.54bn loan for a joint venture (StarPlus Energy LLC) between Stellantis and Samsung SDI to build 2 EV battery plants in Indiana. This initiative, led by StarPlus Energy LLC, aims to significantly boost EV battery production in North America, reducing reliance on foreign sources like China. The project is expected to create at least c.6,000 jobs at the plants and additional employment opportunities at nearby part suppliers. The plants will produce enough batteries to power approximately 670,000 vehicles annually. The first plant is scheduled to open in early 2025, with the second following in 2027. To secure the loan, StarPlus Energy must develop a Community Benefits Plan, engaging with community and labour leaders to create well-paying jobs. The loan's finalisation is pending, with the DOE emphasizing the importance of supporting private sector partners and communities benefiting from lower energy costs and new economic opportunities. This strategic move underscores the Biden administration's commitment to advancing EV production and fostering economic growth through sustainable energy initiatives.
Splend, Australia's largest ride-share operator, has announced it has secured $300m in senior debt financing to expand its EV fleet. This funding, primarily from Macquarie's asset finance arm and an additional $15m from MA Financial, brings Splend's total debt financing to over $500m. The company is aiming to grow its fleet to more than 10,000 vehicles by 2025 and 20,000 by the end of 2026, with a significant portion being electric. Splend, founded in 2015, provides leasing and financing packages for ride-share drivers. The company has been working towards increasing its EV fleet, with over 50% of its current vehicles in Australia and the UK already electric. Splend plans to stop renting ICE vehicles by 2029 and has added models like the Polestar 2 and Tesla Model 3 to its fleet. The new funding will also support Splend's expansion into the UK market.
Moove has announced a groundbreaking partnership with Waymo, the autonomous driving technology company. This collaboration marks the first commercial partnership of its kind on the Waymo One app. Under the agreement, Moove will manage and dispatch Waymo's fully autonomous fleet, starting in Phoenix in 2025 and expanding to Miami in 2026. Moove will handle fleet operations, facilities, and charging infrastructure, ensuring the seamless operation of Waymo's all-electric autonomous vehicle fleet. Waymo will continue to offer its service through the Waymo One app and remain responsible for the validation and operation of its autonomous driving technology. This partnership aims to provide safe, reliable, and sustainable urban mobility solutions. Moove's expertise in fleet management will enable Waymo to focus on advancing its Waymo Driver technology. The collaboration is expected to reduce urban congestion, enhance safety, and transform cities into more sustainable environments. Moove remains committed to serving its existing customers in emerging markets and will continue to provide its flagship Drive-to-Own product, which democratises access to vehicle ownership for underserved mobility entrepreneurs.
Deals
Accenture has announced its acquisition of AOX, a German company specialising in embedded software for the automotive industry. This move aims to enhance Accenture's capabilities in developing software-defined vehicles, a critical shift for carmakers and suppliers to remain competitive. AOX is known for its expertise in high-performance computing, real-time operating systems, and the entire software development process, making it a valuable addition to Accenture's Industry X engineering team. The acquisition will enable Accenture to offer comprehensive solutions from architecture design to maintenance, covering the complete lifecycle of automotive software. This integration is expected to accelerate the go-to-market strategy for automotive clients, improving software features and reducing faults. AOX's team of over 50 professionals will join Accenture, bringing their deep software architecture expertise to support transformation projects. The terms of the transaction were not disclosed, and the completion of the acquisition is subject to customary closing conditions.
Zitara, a San Francisco-based advanced battery controls software startup, has secured $17m in Series AA funding led by Salesforce Ventures. Investors such as Emerson Ventures, Chevron Technology Ventures, Energy Impact Partners, and Climate Capital also participated. This funding will accelerate Zitara's mission to enhance battery performance, reliability, and sustainability, which are crucial for energy storage systems and decarbonisation efforts. Zitara plans to use the funds to deepen relationships with independent power producers and investor-owned utilities, strengthen partnerships with battery manufacturers, and expand its engineering capabilities. The company aims to improve its AI and ML technologies to optimise battery performance and extend battery life. The investment reflects the broad applicability of Zitara's technology across various sectors, including grid-scale energy storage and EVs. This strategic funding will help Zitara bring its solutions to more customers, contributing to a more sustainable and electrified future.
EvenFlow AI, an Atlanta-based startup specialising in AI-powered solutions for automotive dealership service departments, has raised $1.5m in a Seed funding round. The funding round was led by Automotive Ventures and FM Capital. EvenFlow AI's platform leverages advanced algorithms to optimise service scheduling, increase lane utilisation, and enhance customer satisfaction, ultimately boosting profitability for dealership partners. The company plans to use the funds to expand its operations and development efforts. This includes enhancing its AI and ML capabilities to further improve service lane capacity management and revenue optimisation. EvenFlow AI aims to address inefficiencies in fixed operations within the automotive industry. The investment will help EvenFlow AI deepen its market presence and strengthen its partnerships with automotive dealerships across North America. By providing data-driven solutions, the company seeks to transform how service departments operate, ensuring better resource utilisation and higher customer satisfaction.
Enakl, a Moroccan-based urban mobility startup, has raised $1.4m in a pre-seed funding round led by Catalyst Fund. Investors such as Renew Capital, Digital Africa, Station F, and 15 business angels also participated. Enakl aims to provide sustainable, collective transport solutions tailored for emerging markets. The funding will help Enakl deepen its impact in Casablanca, expand its reach, and accelerate its technology development, which leverages AI to optimise routes. Enakl's platform focuses on the daily home-to-work commute, collaborating with corporations and local transport operators to ensure affordability and accessibility. This model not only simplifies commutes for workers but also supports employers in reducing their carbon footprint and enhancing employee satisfaction. With its pilot phase already managing over 15,000 bookings per month and a 20% monthly growth rate, Enakl plans to expand to other cities across Africa. The company sets a new standard for safe, affordable, and eco-friendly commute options, benefiting corporations, communities, and governments.
Vooma has secured $16.6m in funding to develop an AI-powered agent for the $1tn trucking industry. The funding includes $3.6m in seed funding led by Index Ventures and a $13 million Series A round led by Craft Ventures. Vooma's AI platform aims to enhance productivity in the logistics sector by automating repetitive tasks such as quote building, email responses, and data entry. Vooma has seen significant growth since its launch in 2023, with revenue increasing 12.5x and transaction volume rising over 32x. Top brokers and carriers, including Echo, MODE, Arrive Logistics, and NFI already use the platform. Vooma's products, such as Vooma Quote, Build, and Voice, streamline various aspects of logistics workflows, allowing professionals to focus on high-value tasks and customer relationships. The new funding will support Vooma's expansion in engineering, sales, customer success, and support to meet growing demand. This investment underscores the potential of AI to transform the logistics industry by improving efficiency and reducing administrative burdens.