Hello and welcome back to The Station, a weekly newsletter dedicated to all the ways people and packages move (today and in the future) from Point A to Point B.
What a week! It’s too much to cover everything that happened in the world of transportation, so here are some of the highlights. Oh, and yes, I know that the big story this weekend was Elon Musk’s appearance on SNL. As there’s no shortage of hot and tepid takes on Twitter and the rest of the interwebs, I think I’ll pass on any commentary.
Instead, it’s worth noting that what Musk says publicly about Tesla Autopilot and the company’s progress on a fully autonomous driving system directly contradicts with reality and what his own employees are telling regulators.
The Station: Einride preps for a US expansion, Argo AI reveals its lidar specs and a Tesla Autopilot reality check
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BMW, Ford invest RM536m in solid-state battery firm
6 May 2021 1:31 pm / 0 comments
BMW Group, Ford and venture capital firm Volta Energy Technologies are leading a USD$130 million (RM536 million) funding round in a solid-state battery startup, Solid Power. The move comes shortly after the Bavarian automaker said it will demonstrate the exciting new battery technology by 2025, as revealed during its
The cash injection will put Solid Power in a position to produce full-scale automotive batteries, increase associated material output and expand in-house production capabilities for future vehicle integration. Operations are expected to begin in early 2022.
Solid Power CEO Doug Campbell said: “BMW and Ford now share leading positions in the race for solid-state battery-powered electric vehicles. Solid Power now plans to begin producing automotive-scale batteries on the company’s pilot production line in early 2022 as a result of our partners’ continued commitment to Solid P
By Reuters - 06 May 2021 Ford and the BMW have expanded existing joint development agreements with Solid Power to secure all solid-state batteries for future electric vehicles. Image: BMW PRESS GLOBAL
Ford Motor Co and BMW AG are leading a $130m (roughly R1,879,469,800) funding round in a solid-state battery startup, Solid Power, as car makers push to lower the cost of electric vehicles by investing in the development of affordable but powerful rechargeable batteries, the companies said on Monday.
The Series B investment round, which includes venture capital firm Volta Energy Technologies, allows Solid Power to expand in-house manufacturing capabilities and positions the battery maker to eventually supply future EVs, possibly by the end of the decade, according to BMW battery cell technology chief Peter Lamp. Solid Power declined to say at what level the funding round values the company.
Solid Power raises $130 million in second funding round from Ford and BMW PUBLISHED BY
$130 million in Series B funding led by
Volta Energy Technologies, the venture capital firm spun out of
the U.S. Department of Energy’s Argonne National Laboratory, as an investor.
Under the investment, Ford and BMW are equal equity owners, and company representatives will join Solid Power’s board.
Solid-state battery technology is seen as a breakthrough technology and many startups have entered the space in a bid to commercialize it. The technology has attracted automakers’ interest as it helps their EV efforts and the batteries help increase mileage and speed.
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