BYD is reportedly opening a car production plant in Pakistan and intends to sell 3 models via a partnership with Mega Motors. This new plant is rumoured to be in Qasim and is pencilled in to be operational in 2026. Qasim is an industrial area with car factories from Kia, Suzuki and Toyota. This is an interesting play by BYD, as it is the first major EV entrant into Pakistan however the country has a real lack of charging infrastructure. However, BYD clearly sees a growth opportunity in the country, as it is strategically positioned in Asia and has skilled labour. BYD also intends to open 3 flagship stores in Karachi, Lahore and Islamabad, selling 2 SUV models and a sedan from Q4 24 onwards.
Coventry City Council has announced it is selling a derelict site, for £1m, to West Midlands Combined Authority (WMCA) for an EV charging station to be built. Currently, this site is being used as a parking site for match day and special events. This EV charging station project is aiming to provide high-speed charging for at least 20 EVs. This may be a small step however it is a step in the right direction and one we champion!
Data released by Dataforce shows that Chinese EV OEMs are starting to feel the effects of the EU tariffs, in July. Chinese EV registrations, in Europe, fell by 45% compared to June, however, it is important to highlight that Chinese OEMs aggressively pushed their inventory in June due to the EU tariffs coming into full effect in July. Thus, this fall of 45% is slightly skewed, we do not doubt that these tariffs will impact Chinese EV OEMs going forward however the impact will not be as drastic as this headline drop. What is interesting to see is that BYD, for example, has not changed its pricing strategy in Europe and compared to July 23 the OEM still sold x3 more of its EVs in July 24, albeit from a smaller base.
The Los Angeles County Metropolitan Transportation Authority (LA Metro) has been awarded $77.5m to help introduce hydrogen-powered buses to its fleet before the 2028 Olympic and Paralympic Games. The awarded money stems from the Low or No Emission grant which has to be used for zero-emission buses, new chargers and an expanded workforce. This aligns with CARB’s and ICT’s regulation goals that all transit agencies in the state must operate all zero-emission fleets by 2040. From 2023 up to 25% of bus purchases must be zero-emissions, this increases to 50% by 2026 and 100% by 2029.
FlixBus has announced it is launching the first electric coach service between Cambridge and London, in conjunction with Whippet and Zenobe. This c124-mile route will be trialled for 6 weeks on FlixBus’ long-distance coach network. The bus model picked for this trial is the Yutong GTe14 demonstrator which is being provided by Pelican Bus & Coach. The EV charging will take place at Whippet’s Swavesey depot using infrastructure provided by Zenobe. Additionally, Zenobe will install its telematics onto the coach so it can capture performance and battery data.
GM has announced it has signed a 15-year renewable energy purchase agreement with NorthStar Clean Energy. NorthStar’s Newport Solar project will provide renewable electricity for 3 of GM’s assembly plants. To recap, this is the largest power purchase agreement by GM, and it helps the company strive to achieve its 2040 carbon neutrality goal.
CASE Construction Equipment (CASE), an Italian manufacturer of construction machinery, has introduced the industry’s first electric backhoe loader, called the 580EV. CASE’s 580EV electric backhoe loader delivers the same power and capabilities as its ICE counterpart but has lower operational costs and emissions. The company intends to expand its EV portfolio in the coming months and years so it can help facilitate the electrification that the construction sector needs to help lower its carbon footprint.
Deals
Fresh Bus, an Indian all-electric intercity bus startup, has announced it has raised $10.5m in a Series A round led by Maniv. It currently has a fleet of 20 electric buses and operates on the Bengaluru-Tirupati and Hyderabad-Vijayawada routes. The startup intends to use the funding to expand its routes and to add up to 150 new electric buses.
Flower, a Swedish grid startup, has announced it has raised €25m in a Series A funding round led by Northzone. This startup integrates battery energy storage systems into the grid, serving EV fleets, home battery owners, data centres, and solar parks. This capital raised will be used to help the startup’s efforts to enhance grid predictability and flexibility while generating new revenue streams for renewable energy assets.
Intramotev, an American-based battery-electric railcar start-up, has raised $14.4m in a Series A round led by Flybridge Capital Partners and Alpaca VC. This startup is trying to help the freight sector shift to clean(er) energy by developing autonomous, zero-emission rail vehicles. Its technology uses self-propelled battery-electric railcars that can be used on their own for point-to-point transport. The startup will use the capital raised to continue developing its technology and to help penetrate new markets.
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