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      <p>
        The EU has approved a new regulation mandating that by 2040, most new heavy-duty vehicles must be emissions-free, aiming for a 90% reduction in CO2 emissions from trucks. This will necessitate a significant increase in the production and sale of electric and hydrogen fuel trucks.
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      <p>
        Currently, most trucks in Europe are diesel-powered, contributing to a quarter of the continent&rsquo;s road transport emissions and various health issues from air pollution.
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      <p>
        The law sets progressive targets for truck manufacturers to reduce CO2 emissions by 45% by 2030 (up from the previous 30% target) and 65% by 2035. Additionally, starting in 2030, 90% of new urban buses sold must be zero-emission, with the requirement increasing to 100% by 2035.
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        Although the European Automobile Manufacturers' Association (ACEA) calls this the world's most stringent emissions policy, its success hinges on sufficient government investment in electric charging infrastructure, aiming for 50,000 truck-compatible charging points by 2030.
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  <p>
    <a href="https://www.euronews.com/green/2024/05/13/trucks-and-buses-to-slash-co2-emissions-by-90-by-2040">
      Euro News
    </a>
  </p>
  <p>
    <a href="https://www.insurancejournal.com/news/international/2024/05/14/774085.htm">
      Insurance Journal
    </a>
  </p>
</div>


EV Economy

<div>
 <p>The European Union (EU) has passed a regulation requiring most new heavy-duty vehicles to be emissions-free by 2040. The aim is to achieve a 90% reduction in CO2 emissions from trucks, which will necessitate a significant increase in the production and sales of electric and hydrogen fuel trucks.</p>
 <p>At present, a majority of the trucks in Europe run on diesel, accounting for a quarter of the continent’s road transport emissions and contributing to various health issues linked to air pollution.</p>
 <p>The legislation sets progressive targets for truck manufacturers to reduce CO2 emissions. These goals are a 45% reduction by the year 2030, which is an increase from the previous target of 30%, and a further increase to a 65% reduction by 2035. Moreover, from 2030, 90% of new urban buses sold must be zero-emission, with the requirement ramping up to 100% by 2035.</p>
 <p>The European Automobile Manufacturers' Association (ACEA) deems this the most stringent emissions policy globally. However, the successful implementation of this policy depends on adequate government investment in electric charging infrastructure. The target is to have 50,000 truck-compatible charging points by 2030.</p>
 
</div>

EU approves regulations for heavy-duty vehicles to slash emissions by 90% by 2040

ANALYST_QUICK_TAKE

<div>
 <p>Mitra Future Technologies Inc., also known as Mitra Chem, a producer of materials for lithium-ion batteries, has secured an undisclosed amount of investment from Alpha Wave Ventures in its Series B funding round. The firm recently achieved successful synthesis of multi-ton Lithium Iron Phosphate (LFP) cathode powder samples matching industry standards for electric vehicles. Mitra Chem is planning to commence mass production of its cathodes by 2026.</p> 
</div> <p><b>Analyst QuickTake:<br>
 </b> This investment follows Mitra raising USD 40 million in a Series B funding round in <a href="https:<br>
//sp-edge.com/updates/21104"> August 2023 </a> . The company intended to use the funds to scale up its R&amp;D and pilot operations and move toward commercializing its cathodes. Furthermore, Mitra partnered with GM, the lead investor, to develop CAM such as lithium manganese iron phosphate (LMFP) for the latter’s EV propulsion architecture, the Ultium Platform.</p>

Mitra Chem secures funding from Alpha Wave Ventures

PROMINENT_CATEGORY

<div>
 <p>Addionics, a British Battery Tech company, has partnered with IL Science, formalised by a Memorandum of Understanding (MoU), to enhance battery capabilities. They aim to improve lithium metal rechargeable batteries by amalgamating high-stability lithium metal and next-gen copper current collectors. The collaboration will utilise the combined benefits of Addionics' 3D current collectors and IL Science's lithium coating capabilities.</p>
 <p>Moreover, the high-stability 3D lithium anode developed as a result of this partnership will aid in commercializing next-generation lithium rechargeable batteries.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/27236"> February 2024 </a> , Addionics intended to invest USD 400 million into its US manufacturing facilities. The new facilities will produce 3D copper foils to support a year of 90 GWh battery capacity with the first factory set to begin production in 2027.</p>

Addionics partners with IL Science to develop advanced lithium metal batteries

INCUMBENTS_PRESENT

<div>
 <p>Chinese electric vehicle manufacturer NIO, listed on the NYSE, has partnered with the Guangzhou Automobile Group Group, a global provider of logistics services. They will work together on EV charging, battery swapping, and the development of a new, unified battery standard.</p>
 <p>NIO's vision is to collaborate with other car companies to create EV battery standards, not only in China, but worldwide.</p>
 <p>The strategic agreement between these two companies includes multiple objectives. These are 1) creating a unified battery standard, 2) jointly developing passenger vehicles with battery swap capabilities, 3) building battery swap stations compatible with EV models from both brands, 4) launching vehicles with swappable batteries designed under the standards established by both companies, 5) promoting the implementation of the battery swap stations for NIO and GAC EVs, 6) starting a unified interconnection of battery-swapping networks that operates on a shared operational and management system, and 7) creating a larger, standardized power infrastructure network to create economies of scale.</p>
 </div> <p><b>Analyst QuickTake:<br>
</b> This partnership follows NIO's collaboration with Wuhan Lotus Technology in <a href="https:<br>
//sp-edge.com/updates/29226"> April 2024 </a> for battery swapping and EV charging. In <a href="https:<br>
//sp-edge.com/updates/27851"> March 2024 </a> , the company partnered with CATL to develop long-lasting EV batteries that can last up to 15 years, twice the current national warranty standard. The partnership aimed to expand battery technology to maintain 80% of the capacity after 12 years of usage.</p>

NIO partners with GAC Group on EV charging, battery swapping, and more

<div>
 
 <p>The American EV manufacturer, Rivian, has been given a USD 827 million incentive package from the State of Illinois. This amount will be used for the expansion of operations at its manufacturing plant located in Normal, Illinois.</p>
 <p>Rivian's aim is to increase their annual production from 150,000 vehicles to 250,000 units. In addition to this, they plan to use the incentive amount for enhancing infrastructure and implementation of job training programs for its workforce. The R2 model of Rivian will be produced at this expanded unit.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This news <a href="https:<br>
//sp-edge.com/updates/27520"> follows </a> Rivian's reported plans to stop constructing a USD 5 billion EV production plant, as it looks to cut costs after the round of layoffs that took place in <a href="https:<br>
//sp-edge.com/updates/26915"> February 2024 </a> . The company initially intended to produce its R2 and R3 EVs in Georgia from 2026 onwards.</p>

Rivian receives USD 827 million incentive package from State of Illinois

<div>
 
 <p>Chinese EV manufacturer NIO, listed on NYSE, has entered into a partnership with Wuhan Lotus Technology, a Geely-controlled EV developer. The collaboration involves battery swapping and EV charging.</p>
 <p>Moreover, the partnership aims at cooperation in fields such as charging and swapping technologies, battery asset management, service network construction, vehicle R&amp;D and customization, and the development of a unified battery standard system.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Similarly, in March 2024, NIO partnered with CATL to develop long-lasting EV batteries lasting up to 15 years. The partnership aimed to expand battery technology to maintain 80% of the capacity after 12 years of usage.</p>

NIO partners with Wuhan Lotus Technology on EV battery-swapping technology

<div>
 
 <p>CATL has introduced the "Shenxing PLUS," the world's first lithium iron phosphate battery boasting a remarkable 1,000 km range. One of its notable features is its 4C superfast charging capability.</p>
 <p>The cathode of this innovative battery uses granular gradation technology. This places every nanometer particle in the best possible position to achieve an ultra-high compact density.</p>
 <p>In an industry-first move, the battery employs a single-piece casing which optimizes internal space utilization. This unique design allows the batteries in the Shenxing PLUS cells to reach an unmatched level of energy density. </p>
 
</div>

CATL unveils lithium iron phosphate battery with 1,000 km range

<div>

 <p>Honda Motors has announced an investment of CAD 15 billion (~USD 11 billion), supported by joint venture partners, aimed at establishing an electric vehicle (EV) value chain in Ontario, Canada. </p>
 <p>The company's plans include the creation of an EV plant and a dedicated Honda EV battery plant in the region. The value chain will also incorporate a plant for cathode active material and precursor (CAM/pCAM) processing, in a joint venture with POSCO Future, and a separator plant, in a joint venture with Asahi Kasei Corporation.</p>
 <p>These developments are slated to start production in 2028. The capacities of these facilities will be as follows: the EV plant will be capable of producing 240,000 units annually, and the battery plant will have a capacity of 36 GWh.</p>

</div>

Honda plans to invest CAD 15 billion to create EV value chain in Canada

<div>

 <p>Toyota has announced an investment of USD 1.4 billion in its Indiana plant, aiming to assemble a new battery electric SUV in the US. The allocated funds will be utilized to acquire plant infrastructure required to construct the Battery Electric Vehicle (BEV), and to introduce a new battery pack assembly line at the facility.</p>

</div>

Toyota to invest USD 1.4 billion in EV plant to assemble electric SUV

<div>
 
 <p>Nasdaq-listed EV charging station developer, Blink Charging has collaborated with the UK's parcel delivery company, Evri. They intend to install one of the first EV charging hubs at Evri's sorting center located in Rugby, UK.</p>
 <p>This installation is a subset of a broader initiative to install EV chargers over various Evri locations across the UK. The planned installations align with Evri's goal of achieving net-zero emissions by 2035.</p>
 
</div>

All Updates

EU approves regulations for heavy-duty vehicles to slash emissions by 90% by 2040

Mitra Chem secures funding from Alpha Wave Ventures

Addionics partners with IL Science to develop advanced lithium metal batteries

NIO partners with GAC Group on EV charging, battery swapping, and more

Rivian receives USD 827 million incentive package from State of Illinois

NIO partners with Wuhan Lotus Technology on EV battery-swapping technology

CATL unveils lithium iron phosphate battery with 1,000 km range

Honda plans to invest CAD 15 billion to create EV value chain in Canada

Toyota to invest USD 1.4 billion in EV plant to assemble electric SUV

Blink Charging UK partners with Evri to install charging hubs across multiple locations in UK

EV Economy

EU approves regulations for heavy-duty vehicles to slash emissions by 90% by 2040

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