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EV startups believe that the transition to EVs will happen across multiple segments and that electric trucks will play a key role in reducing emissions. Recycling and sustainable sourcing of lithium-ion batteries are also important considerations. The industry calls for accessible financing options and swappable batteries for last-mile deliveries.
Canoo's loss narrowed to USD 70.9 million in the second quarter from USD 164.4 million a year earlier. On an adjusted basis, the company lost 14 cents per share, compared with estimates of a loss of 19 cents, according to Refinitiv data.
According to Exponent, its energy stack addresses two key problems that, for decades, prevented rapid charging on LFP cells – Lithium plating and Extreme heat.
In a statement, the company said the MoU was signed by its chief executive Siddhartha Bagri and Mansour Alsanooni, CEO of Saudi India Venture Studio, on the concluding day of the G20 YEA India Summit 2023 last week.
Nikola, which went public in 2020, produced 33 trucks during the second quarter, compared with 63 trucks in the preceding quarter.