<div>
  <ul>
    <li>
      <p>
        Blink Charging, a Nasdaq-listed EV charging station developer, has signed a Strategic Alliance with AES El Salvador, the subsidiary of the US utility and power generation company AES Corporation. Under the agreement Blink Charging will deploy 50 IQ 200 fast Level 2 chargers in various regions of El Salvador over the next few years.
      </p>
    </li>
    <li>
      <p>
        Blink chargers will be connected to the Blink Network platform which would allow drivers in El Salvador to locate networked charging stations and use the company&rsquo;s mobile app. Currently, AES El Salvador has 12 charging stations with 4 in places of public access.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake: </b>
    This partnership is the newest in a series of moves Blink Charging has made to expand its geographic presence. The company, which has deployed over 51,000 charging ports across 25 countries, acquired British 
    <a href="https://sp-edge.com/updates/10020">
      EB Charging
    </a>
     and American 
    <a href="https://sp-edge.com/updates/11084">
      SemaConnect
    </a>
     earlier this year thereby increasing the number of charging ports it owns by over 14,000. With the number of EVs in Latin America (25,000 EVs sold in 2021) estimated to double each year over the next eight years, Blink Charging would look to establish an early foothold in a growing market.&lt;/ul&gt;
  </p>
  <p>
  </p>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://ir.blinkcharging.com/news-events/press-releases/detail/2387/blink-charging-establishes-a-strategic-alliance-with-aes-el">
      Press release
    </a>
  </p>
  <p>
    <a href="https://about.bnef.com/blog/electric-vehicles-start-gaining-traction-in-latin-america/">
      Bloomberg - Latin American EV sales
    </a>
  </p>
  <p>
  </p>
</div>


EV Economy

Blink Charging partners with AES El Salvador

<div>
 
 <p>Lucid Group, a Nasdaq-listed manufacturer of electric vehicles (EVs), has raised $1 billion through a series of convertible preferred stock. The private placement was secured by the company's majority shareholder, Ayar Third Investment, which is an affiliate of Saudi Arabia's Public Investment Fund. As a result, the Kingdom of Saudi Arabia now holds approximately 60% of Lucid's shares.</p>
 <p>Lucid has stated its intent to use the money raised from the public offering and private investment for several general corporate purposes. This includes funding for capital expenditures and supplying working capital.</p>
 <p>In addition, the company has plans to begin manufacturing its electric Gravity SUV within the year. In an effort to increase sales, Lucid has also cut prices on its luxury Air sedan model.</p>
 
</div>

Lucid raises USD 1 billion through stock offering and private investment

Fisker delisted from NYSE; loses deal to secure emergency funding

PROMINENT_CATEGORY

<div>
 
 <p>A European EV battery and energy storage producer, Northvolt, has started the construction of its newest battery gigafactory, Northvolt Drei, in Germany. The gigafactory is expected to have a maximum annual production capacity of 60 GWh and Northvolt plans to begin operations at the facility in 2026.</p>
 
</div>

Northvolt initiates construction of Northvolt Drei

<div>
 
 <p>NYSE-listed EV manufacturer, Fisker, has received a financial commitment of USD 150 million from an existing investor.</p>
 <p>The funding will be arranged in four parts and given by the company's 2025-dated convertible notes holder. The deal is contingent on specific conditions including Fisker's 2023 Form 10-K filing.</p>
 <p>Furthermore, Fisker is in discussions with a major automaker for a possible deal to develop and manufacture EV platforms within the US.</p>
 <p>From March 18, 2024, Fisker will halt production for six weeks to realign inventory and progress strategic and financial endeavors.</p>
 
</div>

Fisker secures USD 150 million and pauses production

ANALYST_QUICK_TAKE

<div>

<p>A Norwegian company called Vianode, which develops anode materials using synthetic graphite, has received a grant of EUR 30 million (~USD 32.6 million) from Innovation Norway under the Important Projects of Common European Interest (IPCEI) program.</p>

<p>The company plans to utilize this financial support to develop its customer qualification plant situated in Heroya, Norway. </p>

<p>Through their proprietary technology, the aim of this plant at Heroya is to set a new standard in the environmentally friendly production of anode graphite solutions. </p>

</div> <p><b>Analyst QuickTake:<br>
</b> In July 2023, the company was selected for a EUR 90 million (~USD 100.8 million) grant from the European Commission through the EU Innovation Fund. This was part of a EUR 3.6 billion (~USD 4 billion) award for 41 clean tech projects.</p>

Vianode awarded EUR 30 million grant from Innovation Norway

INCUMBENTS_PRESENT

<div>
 
 <p>Panasonic Energy has entered into a long-term contract with H&amp;T Recharge to provide lithium-ion battery cans for Electric Vehicles (EVs) in North America.</p>
 <p>Starting their collaboration in 2017, H&amp;T was responsible for supplying Panasonic Energy's Nevada facility with an annual battery capacity of 40 GWh.</p>
 <p>The goal of this expanded partnership is to broaden H&amp;T’s supply to Panasonic Energy’s new Kansas facility, anticipated to commence operations by March 2025. H&amp;T plans to provide battery cans of an estimated annual capacity of about 30 GWh to this facility.</p>
 
</div>

Panasonic partners with H&T Recharge to expand EV battery production in North America

<div>

 <p>NIO, a Chinese EV manufacturer listed on the NYSE, has joined forces with CATL, a Chinese battery manufacturer, to create EV batteries that can withstand up to 15 years of use, a duration that doubles the present national warranty standard.</p>

 <p>In their collaboration, the companies strive to enhance battery technology that can maintain 80% of its capacity after 12 years of use. This is made possible by CATL's innovation of a self-healing Solid Electrolyte Interphase film and lithium supplements, both of which have the potential to prolong the lifespan of EV batteries. </p>

 <p>In addition, the two firms are working on making battery swap services extensively available to lessen the hefty costs associated with battery replacements.</p>

</div>

NIO partners with CATL to develop long-lasting EV batteries

<div>

<p>Blink Charging, a company listed on Nasdaq, has set up its global headquarters in a 15,000 sq ft facility in Maryland. The EV charging station developer is also planning to expand its manufacturing capabilities with the construction of a new 30,000 sq ft production facility in the same state. This new facility will serve as the main center for the company's manufacturing and production activities in North America and will come with an additional production line. Currently, Blink’s existing manufacturing facility has the capacity to produce about 15,000 EV charging units every year.</p>

</div>

Blink Charging establishes new HQ and expands manufacturing footprint in Maryland

<div>

 <p>Israeli fast charging battery developer, StoreDot, has signed a strategic manufacturing agreement with EVE Energy, a current partner, to secure EVE's manufacturing capabilities for StoreDot's XFC batteries. Under this agreement, EVE will produce and deliver StoreDot’s batteries to its clientele of EV manufacturers. Moreover, StoreDot will also license its technology to EVE.</p>

</div> <p><b>Analyst QuickTake:<br>
</b> Similarly, in <a href="https:<br>
//sp-edge.com/updates/23987"> October 2023 </a> , StoreDot signed a strategic partnership agreement with Flex|N|Gate to sample and scale up the commercialization of its batteries. Under the agreement, Flex|N|Gate agreed to produce StoreDot’s 100in5 battery cell batteries at its lithium-ion cell pilot factory in 2024.</p>

StoreDot partners with EVE Energy to scale up battery production

<div>

<p>Rivian, an American electric vehicle (EV) manufacturer, has announced the indefinite pause of a planned $5 billion EV production plant to save costs following layoffs that occurred in <a href="https://sp-edge.com/updates/26915"> February 2024. </a></p>
<p>The company was set to produce its R2 and R3 electric vehicles in Georgia starting from 2026, but has now decided that production will be moved to Rivian's already existing factory based in Illinois.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> Rivian’s Georgia plant was slated to have a production capacity of ~400,000 units per year once operational and was planned to be opened later in 2024. Earlier in the <a href="https:<br>
//sp-edge.com/updates/27394"> month </a> , the company launched three new EVs:<br>
 R2, a midsize electric SUV, and R3, a midsize crossover, and R3X, a performance model.</p>

All Updates