1.Faraday Future Raises $2 Billion To Bring Its EVs To Market
US-based electric vehicle startup Faraday Future has announced that it closed a $2 Bn financing from Evergrande Health, a Hong Kong-based holding company, to bring its electric vehicles to the market.
The startup plans to utilise the funds to expand its product pipeline, develop cutting-edge technologies, and grow the business rapidly in the global marketplace, including its manufacturing facilities in Hanford, California and in Guangzhou Nansha, Guangdong Province, China. With a 130kWh battery pack configuration, Faraday Future claims that the FF91 will have 1050 horsepower.
2. In England, councils take on the task of more EV Stations
The Hampshire County Council in England has released undisclosed funding for district, borough, and town councils to fit EV charging stations across the county as it aims to cut carbon from 40-50% by 2025.
“Our electric vehicle programme remains focused on investing in facilities so that Hampshire residents can access environmentally friendly travel. This gives value for money both for motorists and the public purse,” economic development chief councillor Mel Kendal said. According to him, 25 public sector organisations have discussed options with the council. So far, eight charging points have been installed across the county for use by council staff, with 20 further installations planned.
3. XC40 To Be Volvo’s First Full Electric Vehicle
Swedish automaker Volvo has confirmed that the brand’s first fully electric vehicle will be a version of the XC40, with the next-generation XC90 also gaining an EV version. This version of the EV will come after the company’s electric sub-brand Polestar launches its second car and will be followed by an electric version of the XC90. Volvo has set a target for 50% of its sales volume to include fully electric cars by 2025. The Swedish car-maker, which is owned by Chinese giant Geely, has pledged to launch an electrified version of every model in its line-up from 2019. Besides this, the company has also pledged to cut down on its wastage and using recycled products in manufacturing. Click here to read that report.
“It’s not a secret any more than the first full electric Volvo is on its way with the XC40 coming, it will arrive very soon after the Polestar 2, that is the first to come that’s not exotic,” Volvo design chief Thomas Ingenlath said.