Electric Mobility News

Investors exchanged $33.8 billion worth of Tesla shares on Wednesday, more than any other company on Wall Street and more than double the turnover of Apple, the second most traded company, according to Refinitiv.

The CEC said the plan, approved on Monday, will support California Governor Gavin Newsom's executive order phasing out the sale of new gasoline-powered passenger vehicles by 2035.

The latest funding comes on the heels of a $160 million round in August that boosted the companys valuation to $890 million, according to investor website PitchBook.

Italvolt has pledged to invest 3.4 billion euros ($3.9 billion) to build a battery production facility in Scarmagno, near Turin, to meet growing demand for lithium-ion batteries from Europe's automotive industry.

The additional investment, which adds to an existing A$72 million commitment and will be spent by the end of June 2025, will also aid purchases of electric cars and buses for government and business fleets.

China Evergrande New Energy Vehicle Group Ltd will issue about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd, after striking a similar deal with it last week.

The company had said in September it planned to build a new battery factory in China with an initial investment of 1.2 trillion won ($1.01 billion).

The motor, known as an axial-flux motor and designed by the British startup YASA which Daimler acquired earlier this year, weighs a fraction of its diesel equivalent and can boost the range of an EV by up to 7%.