Rimac, the Croatian EV upstart that ascended from a garage to become a supercar and technology powerhouse merged with Bugatti, has upgraded its Nevera hypercar. And along the way, Rimac managed to squeeze more power into it. Rimac revealed Friday during The Quail, a Motorsports Gathering at Monterey Car Week the Nevera R, an all-electric […]
Saudi Arabia is committing even more money to Lucid Motors as the EV startup struggles to erase its losses. Lucid announced Monday as part of its second-quarter earnings report that an affiliate of the Saudi sovereign wealth fund is committing another $1.5 billion, with half coming in the form of a private placement and the
In the lithium-ion battery world, the race to the bottom isn’t as ominous as it sounds. Battery manufacturers are under pressure from automakers to lower prices while maintaining or improving performance. They’ve largely delivered, with battery pack costs dropping from $780 to $139 per kilowatt-hour over the last decade, according to BNEF. That’s allowed electric
GM-backed Addionics aims to make lithium-ion batteries cheaper with wavy foil Read More »
Monarch Tractor was in a tricky spot late last year as the autonomous electric tractor startup juggled growth and an uncertain fundraising environment. Now, with $133 million in new funds, CEO Praveen Penmetsa tells TechCrunch that the startup is plowing ahead into greener pastures. The $133 million Series C funding round was co-led by agri-food
Monarch Tractor CEO says $133M raise will help it escape ‘quite a challenging time’ Read More »
Fisker has been given the green light by a bankruptcy judge to sell more than 3,000 of its Ocean SUVs to a vehicle leasing company, a deal that will net the defunct EV startup a maximum of $46.25 million. The approval of the sale clears the way for the rest of Fisker’s bankruptcy process to
Fisker cleared to sell North American EVs for $46.25 million Read More »
One major dissenter threatens to upend Fisker’s apparent best chance at offloading its unsold EVs, a deal that would keep the startup’s bankruptcy proceeding alive and pave the way for paying pack creditors some of what they’re owed. The objection to the sale comes from the office of the U.S. Trustee, an arm of the
Fisker has one major objector to its Ocean SUV firesale Read More »
Fisker Inc. co-founders Henrik Fisker and his wife, Geeta Gupta-Fisker, are lowering their salaries to $1 in order to keep their failed EV startup’s bankruptcy proceedings funded, as lawyers work to complete a sale of its remaining inventory. Fisker Inc.’s restructuring officer, John DiDonato, said in a Tuesday morning filing that the couple, who co-founded
Henrik Fisker drops salary to $1 to keep Fisker Inc. bankruptcy case alive Read More »
Lucid Motors delivered 2,394 EVs in the second quarter of 2024, a new record for the company and a positive sign amid its struggle to establish a foothold in the still-growing market for electric vehicles. That number easily clears Lucid’s prior record, which it set in the first quarter of the year when it shipped
Lucid Motors sets new record for EV deliveries as it seeks ‘escape velocity’ Read More »
Fisker has a willing buyer for its remaining inventory of all-electric Ocean SUVs, and has asked the Delaware Bankruptcy Court judge overseeing its Chapter 11 case to approve the sale. If approved by the judge, Fisker would be able to offload 3,321 finished EVs to a New York-based vehicle leasing company for $46.25 million. That
Fisker asks bankruptcy court to sell its EVs at average of $14,000 each Read More »
Fisker is just a few days into its Chapter 11 bankruptcy, and the fight over its assets is already charged, with one lawyer claiming the startup has been liquidating assets “outside the court’s supervision.” At issue is the relationship between Fisker and its largest secured lender, Heights Capital Management, an affiliate of financial services company
The fight over Fisker’s assets is already heating up Read More »
