This week's briefing highlights growth in the UK's battery supply chain, expanding EV charging infrastructure across freight and retail, and fresh funding activity in automotive safety and fintech.
Market developments
New AutoMotive highlights growth in the UK battery supply chain
The UK battery supply chain generates an estimated £4.2bn in annual turnover and supports more than 10,000 jobs, according to new research from New AutoMotive. More than £7bn has been committed across 14+ commercial battery projects, reflecting rapid growth in domestic EV manufacturing. The report highlights a developing ecosystem spanning lithium extraction, chemical processing, gigafactories, advanced materials and battery recycling. Recycling is identified as a strategic advantage, providing lower-carbon access to materials such as lithium, nickel and cobalt. Looking ahead, the UK is expected to require around 115GWh of battery capacity by 2035, with existing projects covering roughly half of anticipated demand.
Purpose Energy plans heavy vehicle charging network in Western Australia
Purpose Energy has unveiled a A$137m plan to develop charging infrastructure for electric freight vehicles along Western Australia's Perth-Bunbury corridor. The first phase includes three 12-bay charging hubs at Forrestfield, Rockingham and Picton, supported by two battery-swapping stations. Through its new Purpose Charging division, the company aims to address infrastructure constraints that continue to slow heavy-duty fleet electrification. Logistics provider Centurion will help assess fleet demand and charging requirements, while equipment manufacturer SANY will explore deployment of electric trucks and swapping technology. The project reflects increasing momentum behind freight decarbonisation and battery-electric trucking across Australia.
Horse Powertrain expands North American presence with Michigan office
Horse Powertrain has opened a new office in the Detroit area as part of its strategy to strengthen relationships with North American automakers. The facility will create 32 jobs and serve as a regional hub supporting customers across hybrid, plug-in hybrid, range-extended and combustion vehicle programmes. The company supplies integrated propulsion systems combining engines, transmissions, electric motors and power electronics, helping manufacturers reduce development complexity and investment requirements. Already active across Europe, China and South America, Horse Powertrain employs more than 19,000 people globally and serves over 25 customers, positioning North America as a key growth market.
Infrastructure & policy
HSBC-backed expansion links Starbucks drive-thrus with EV charging
A £21m funding package from HSBC will support the development of 75 new Starbucks drive-thru locations across the UK over the next five years. The rollout is being led by The Magic Bean Co, Starbucks' national growth partner, which currently operates 47 drive-thru sites. Every new location will include EV charging infrastructure, combining charging facilities with food and beverage services at roadside destinations. The programme is expected to create around 1,000 jobs, with each site supporting approximately 20 positions. Several locations have already opened, with further launches planned this year as the company expands its national footprint.
Deals
IVEX raises €5m to automate vehicle safety validation and ADAS testing
Belgian automotive technology company IVEX has secured €5m in Series A funding to accelerate development of its AI-powered vehicle safety testing platform. A spin-out from KU Leuven, the company helps automakers and suppliers validate ADAS and autonomous driving systems using automated analysis of vehicle camera and sensor data. The software supports compliance with increasingly complex safety standards, including Euro NCAP protocols, while reducing the cost and time associated with traditional testing methods. The funding will support product development, engineering expansion and international growth, particularly across North America and Asia.
Carputty expands automotive finance platform following Series B funding
Atlanta-based fintech company Carputty has completed a Series B funding round, taking total capital raised to more than $40m. The company plans to expand its embedded finance platform, increasing loan origination and servicing capabilities while deepening integration with automotive technology ecosystems. Its Flexloan and Flexline products use vehicle valuation data, AI-powered underwriting and digital workflows to streamline automotive lending. The platform also supports click-to-buy purchasing, warranty products and aftermarket services, helping dealers improve conversion rates, reduce operational friction and create additional revenue opportunities throughout the vehicle ownership journey.
See you next week!