Norwegian Battery Maker Morrow Nets €100m Equity Funding Updated On Wed, Sep 27th, 2023 by Saurenergy Norwegian battery start-up Morrow Batteries has scooped up €100m in an investment round led by Siemens Financial Services and ABB. Other investors in the round were Nysnø Climate Investments and Arendals Fossekompani, as well as the company’s existing shareholders PKA, NOAH and Agder Energi Invest. Morrow, starting with its first battery cell factory opening in […] Read more
CNGR, Al Mada Partner For $2 Billion EV Battery Plant in Morocco Updated On Fri, Sep 22nd, 2023 by Saurenergy Chinese battery components manufacturer CNGR Advanced Material and the African private investment firm Al Mada have unveiled plans to establish an industrial hub in Jorf Lasfar, Morocco. This project will entail an investment of $2 billion. This collaborative endeavor was officially disclosed through a joint statement by the two firms. The two entities are currently […] Read more
Battery Swapping Can Reduce EV Costs Drastically: Kavinder Khurana, MD, TeslaPower Updated On Mon, Sep 11th, 2023 by Saurenergy Why Tesla Power USA invested in India. How much potential do you see here? Tesla Power USA is a United States (US)-based entity. It has invested heavily in battery rejuvenation technology. The company was launched in India in September 2021. Globally, it operates in 18 countries. It includes four countries in Latin America, seven in […] Read more
China’s Capacity Glut Likely To Keep Lithium Battery Prices Down-Trendforce Research Updated On Fri, Sep 8th, 2023 by Saurenergy Insufficient downstream demand has put a damper on both supply and demand in the EV battery market. TrendForce reveals that the ASP of EV cells in China fell below CNY 0.6/Wh in August. The average price drops of EV square ternary cells, LFP cells, and pouch ternary power cells reached 10%, with respective prices of CNY 0.65/Wh, […] Read more
Cabinet Approves Rs 3,760cr For VGF Scheme On Battery Storage Updated On Wed, Sep 6th, 2023 by Saurenergy Union Minister Anurag Thakur said that the Union Cabinet today approved a special scheme of Viability Gap Funding (VGF) for the battery energy storage system manufacturers in India. After the Cabinet meeting, he briefed the media on the issue today in New Delhi. Prime Minister Narendra Modi chaired the meeting. The announcement came days before […] Read more
Minda Corporation Bags INR 750 Cr Contract for Battery Chargers for EVs Updated On Wed, Jul 12th, 2023 by Saurenergy The flagship firm of Spark Minda, a maker of auto parts, Minda Corporation Ltd, has won a contract worth INR 750 crore from a leading OEM. The contract will require it to produce battery chargers for the electric vehicles for the OEM, the name of which has not been disclosed. The Executive Director of Minda […] Read more
POSCO Supercharges Green Innovation with Massive Hydrogen & Battery Production Investment Updated On Fri, Jul 7th, 2023 by Saurenergy POSCO Holdings Inc. has announced its plan to invest 121 trillion won (US$92 billion) by 2030, claiming to strengthen its competitiveness in the steelmaking industry and foster new growth opportunities. POSCO’s investment strategy encompasses not only its core steelmaking business but also the development of rechargeable battery production and the “hydrogen business,” which will play […] Read more
Battery Smart Raises $33 Million In Pre-Series B Funding Updated On Thu, Jul 6th, 2023 by Saurenergy EV Battery swapping network builder Battery Smart has announced a $33 million fund raise in its Pre-Series B funding. The firm plans to use the funds to expand its geographic footprint and acquire more users. The latest funding round saw Battery Smart’s existing investors, Tiger Global and Blume Ventures, as well as new investors participate. […] Read more
Jinko Solar Pitches Storage Solutions With G2 Battery Launch At Intersolar Updated On Thu, Jun 15th, 2023 by Saurenergy JinkoSolar Holding Co., Ltd., one of the largest module manufacturers in the world, today officially launched its Second Generation of the High Voltage Energy Storage Battery into the European market. The upgraded product, JKR-B1250~2750-A (high voltage G2 battery) is a high-performance energy storage system designed for residential and small commercial applications. It features a self-developed […] Read more
