Auto Industry News

BEVs have grown in popularity globally, but some consumers have been put off by EV battery-related fire risks and rapid degradation.

Russian forces invaded Ukraine last week, marking the biggest attack by one state against another in Europe since World War Two. Many firms have idled operations in Russia following Western sanctions against Russia.

Papers filed in August with India's markets regulator seeking approval for its listing show the dealer plans to raise $20 million by issuing new shares.

The automated system allows the driver to focus on other activities while a car equipped with the technology is in heavy traffic or on congested highways, Mercedes-Benz said in a statement.

The new plant, at a site in Liberty that will begin production in 2025, will initially be capable of supplying lithium-ion batteries for 800,000 vehicles annually, and will "pave the way" for Toyota's U.S. production of electric vehicles.

The fundraising round also included an investment from Luminar Technologies, which makes lidar sensors used in self-driving cars.

Vay raised $95 million from investors such as Kinnevik, Coatue and Eurazeo, as it planned to launch its first car-rental service in Hamburg next year.

The new venture, called DiPi Intelligent Mobility Co and located in Shenzhen, combines BYD's capabilities as an automaker with Momenta's experience in intelligent driving.