XPeng raises eXPengctations!

Altilium has announced that its recycled cathode active materials (CAM) now match the performance of commercially available materials. This breakthrough is part of Altilium's efforts to create a sustainable supply chain for EV batteries in the UK. Altilium's proprietary EcoCathode process recovers over 95% of critical metals such as lithium from spent batteries. The recycled CAM has demonstrated a comparable rate and cycle performance to commercial CAM, which was confirmed through electrochemical testing and X-ray diffraction analysis. This achievement addresses the lack of domestic CAM production, in the UK, and reduces greenhouse gas emissions by up to 74% compared to traditional methods. The company is also constructing the UK's first industrial-scale recycling plant in Teesside, aiming to meet 20% of the UK's EV battery material needs by 2030. This facility will play a crucial role in alleviating raw material shortages and reducing the environmental impact of battery production.

Wrightbus has partnered with King Long to launch a new range of light battery-electric buses under the Rightech brand. The partnership has produced 2 buses, the 6-meter RB6 and the 9-meter RB9, which have undergone extensive fine-tuning. The RB6, equipped with an 89kWh battery, offers a range of 112 miles and can be charged from 20-80% in 37 minutes. The larger RB9, with a 282kWh battery, provides a range of 187 miles and charges in 1 hour and 24 minutes. Both models promise significant cost savings over diesel buses and come with comprehensive warranties. Additionally, Wrightbus has announced plans to introduce a hydrogen coach by 2026. This move is part of Wrightbus' broader strategy to expedite decarbonisation and offer flexible, customisable products with shorter lead times. The new vehicles will be supported by Wrightbus' AllServiceOne network and telematics software, ensuring aftersales support.

Vauxhall has partnered with Jolt to offer free EV charging in North West London. This initiative allows drivers of Vauxhall electric and plug-in hybrid vehicles to access free public charging at Jolt’s 25kW DC charging units until March 2nd, 2025. To utilise this offer Vauxhall owners, need to download the Jolt app and register their vehicle. Jolt, which has over 40 chargers in the area, integrates charging units with digital advertising screens to fund the free charging through ad revenue. This partnership supports Vauxhall’s Electric Streets of Britain initiative, aimed at increasing on-street charging solutions across the UK. The initiative addresses the lack of residential on-street charging, which is a barrier for many potential EV buyers. By making charging more accessible and cost-effective, Vauxhall and Jolt aim to encourage the adoption of EVs and support local communities.

Honda has unveiled its EV Hub in Ohio, a reimagined manufacturing environment designed to produce ICE, hybrid-electric, and battery-electric vehicles on the same production lines. This $1bn investment involves retooling the Marysville Auto Plant, East Liberty Auto Plant, and Anna Engine Plant to create a more human-friendly and environmentally responsible work environment. The Honda EV Hub will begin EV production in late 2025, starting with the all-new Acura RSX EV, followed by models based on the Honda 0 SUV and Honda 0 Saloon prototypes. Honda's flexible manufacturing approach allows the company to quickly respond to shifting customer needs and market conditions. Additionally, Honda and LG Energy Solution are investing $3.5 bn in a joint venture battery facility, L-H Battery Company, with an annual capacity of approximately 40GWh. This facility will support the production of the new Honda 0 Series EVs and contribute to Honda's goal of making zero-emission vehicles 100% of its sales by 2040.

XPeng has announced it is expanding its footprint and operations into Ireland and Finland as part of its European growth strategy. The company will introduce its P7 sedan and G9 SUV models in these new markets, aiming to capitalise on the increasing demand for EVs in Europe. XPeng's expansion includes establishing sales and service networks to support its growing customer base. This strategic move follows successful launches in Norway, Sweden, Denmark, and the Netherlands, and aligns with XPeng's mission to accelerate the transition to sustainable mobility by providing high-quality EVs to a global audience. The company is also investing in charging infrastructure and aftersales support to ensure a seamless ownership experience for its customers. In addition to expanding its market presence, XPeng is committed to enhancing its technological offerings. The company is focusing on developing advanced autonomous driving systems and improving battery technology to meet the ever-evolving needs of EV users. This comprehensive approach aims to position XPeng as a leader in the European EV market and contribute to the broader adoption of sustainable transportation solutions.

Australia has launched its longest connected EV highway network, spanning 7,000km across Western Australia. This extensive network includes 110 charging points distributed across 49 locations, providing comprehensive coverage for EV drivers. The project was delivered by state-owned electricity company Horizon Power and energy provider Synergy, with funding from the Western Australian government. The EV highway stretches from Mundra Billa, located 1,317km east of Perth, to Kununurra, 3,135km northeast of Perth. Charging stations are strategically placed approximately 200km apart, ensuring accessibility for long-distance travel. Some isolated chargers are supported by standalone power systems that utilise solar energy and small-scale battery storage. Western Australia's Premier, Roger Cook, emphasised that this initiative aims to reduce barriers to EV adoption and promote the use of EVs across the state. The Electric Vehicle Council highlighted that the completion of this highway will boost confidence in EVs and address range anxiety, a significant concern for potential EV buyers. The EV highway is part of Western Australia's broader strategy to increase EV uptake and achieve net zero carbon emissions by 2050. The initiative is expected to benefit regional communities by encouraging EV drivers to visit and spend time in these areas, thus supporting local economies.

Li-Cycle has expanded its operations in the EU through a new partnership with an OEM. This exclusive agreement will channel feedstock from an EU-based EV production facility to Li-Cycle's Germany Spoke. The partnership aims to enhance Li-Cycle's commercial footprint in the EU and provide a sustainable secondary supply of critical battery materials. Li-Cycle's Germany Spoke will recycle lithium-ion batteries and manufacture scrap sourced from across the EU. The company's Spoke & Hub Technologies enable the recovery of over 95% of critical metals, including lithium, nickel, and cobalt. This process supports the creation of a closed-loop battery supply chain, contributing to a clean energy future. Li-Cycle emphasised the importance of this partnership in expanding the company's commercial reach and delivering services to global EV OEM partners. The collaboration is expected to play a vital role in meeting the growing demand for sustainable battery materials in the EV industry.

Deals

Athenic AI, a company specialising in data analysis and business intelligence (BI), has raised $4.3m in a funding round, led by BMW i Ventures. Investors such as TenVC, Scrum Ventures, Stage 2 Capital, Beat Ventures, SpaceCadet, Boost VC, and Abstraction Capital also participated. Athenic AI aims to democratise data analysis by making advanced BI tools accessible to a broader range of users, enhancing decision-making processes across various industries.

VoltUp, an Indian mobility-as-a-service startup, has raised $8m in a Seed funding round led by EM Impact Capital. The funds will be used to expand VoltUp's battery-swapping network and mobility solutions. Over the next 2 years, the company plans to invest $85m to establish 1,000 new battery-swapping stations in 20 urban centres across India, supporting the growing demand for electric two- and three-wheelers. VoltUp also manufactures lithium-ion batteries. The startup previously raised $10m in a pre-seed round with investors including HDFC Bank, cKers, Grip Invest, and GetVantage.

UVeye, an AI-driven vehicle inspection startup, has raised $191m in equity and debt to expand its operations in North America and Europe. The $41m equity round was led by Woven Capital, Toyota's investment arm, while Trinity Capital structured the $150m debt facility. UVeye's technology, described as an MRI for vehicles uses external scanners to inspect vehicles, record engine sounds, and run diagnostics in seconds. This system detects 96% of vehicle issues, significantly outperforming manual inspections. The company plans to install its scanners at Amazon distribution centres in America and expand into Japan by 2026.