Rev Startups News Today

Beijing Auto Show: Electric vehicles accounted for about a quarter of all auto sales in China last year. Hybrids, which have trailed EVs, are expected to be a growing segment going forward.

EU and India launch a matchmaking event for startups in EV Battery Recycling Technologies to enhance circularity and carbon-neutrality. The event promotes sustainable innovation and economic relations, fostering collaborations for a green and circular economy.

KWh Bikes raises $2 million in seed funding from LetsVenture, others Bengaluru: Electric scooters startup kWh Bikes has raised $2 million in a seed round led by LetsVenture, and participation from Better Capital and Cloud Capital. The round also saw participation from Renu Satti (ex-CEO, Paytm Payments Bank), Vijay Shekhar Sharma (CEO, Paytm), Rajiv Nazareth

Lucid and Rivian are more exposed to cooling demand than their legacy rivals, which can lean on gas-powered vehicles to support electric investments.

Gujarats EV ecosystem is expanding owing to investments in manufacturing, charging infrastructure, and battery technology. MG Motors, Maruti Suzuki, and Tata Motors has set up their plants in the state. Besides, public charging stations have also increased to over 600. Many startups are also contributing to the EV ecosystem of the state.

Arkam marked its first investment in the manufacturing space on Tuesday, jointly leading a $6.3 million Series A funding round in custom manufacturing platform Karkhana.io

Rivian: The company handed over 13,972 vehicles in the last three months of 2023, 10% lower than the previous quarter, and below estimates of 14,430, per 13 analysts polled by Visible Alpha. High interest rates in the United States have raised monthly payments for electric vehicles, making them less affordable and prompting a price war by market leader Tesla.

A year ago, electric vehicles looked ready to take over the market. Carmakers left and right were preparing to launch dozens of new models while the pric...

EV Strategies: As the year closes, legacy automakers as well as Tesla, Rivian and other EV startups are throttling back investments and reworking product strategies. Legacy automakers are appealing to policymakers for more help to offset the high costs of the EV transition, on top of billions of dollars already pumped into EV subsidies. Consumer demand for EVs is growing worldwide. But EV adoption is not happening as fast or as profitably as industry executives anticipated, especially in the Uni...

Tevva, which has so far raised about USD 140 million from investors, said it had provided "full and open access" to ElectraMeccanica and "will be seeking recourse through due legal process."