The 2024 Paris Motor Show kicked off on Monday and the central theme for this year's show is price! This should not be a surprise however it does symbolise the changing tide of macroeconomic conditions and how the impact of Chinese EVs has shifted the (European) EV competitor landscape. For example, Renault, VW, and BMW are planning on showcasing new affordable EVs in an attempt to help broaden their market appeal. Renault is pushing its R4 and R5 affordable models, with the latter being a modern take on its classic model. These launches reflect the automakers’ strategies to compete with Tesla and Chinese manufacturers, who are rapidly gaining market share in Europe. The focus on affordability is crucial as the EU pushes for stricter emissions regulations and consumers seek cost-effective, eco-friendly alternatives.
Lithios has announced it has secured $12m in funding to expand its lithium extraction and processing capabilities. Clean Energy Ventures led this funding round. Much of the capital will be used to expand its Advanced Lithium Extraction (ALE) platform. Furthermore, it will enable Lithios to enhance its production capacity and meet the growing demand for lithium, which is a critical component in EV batteries. Its ALE technology aims to address this by providing a scalable solution for extracting lithium from deposits that have been difficult to process with existing methods. By utilising an electrochemical process, the ALE platform reduces energy consumption by 10x compared to conventional direct lithium extraction methods, making it a more sustainable option.
The Go-Ahead Group has announced it has committed a £500m investment to acquire up to 1,200 zero-emission buses from Wrightbus over the next 3 years. This significant deal will help support c.500 manufacturing jobs in the UK. The fleet will include 43 hydrogen fuel cell-electric buses for Metrobus, with the remainder being battery-electric buses distributed across various locations. Deliveries will be evenly spread over the 3 years, with Wrightbus establishing a dedicated production line for these vehicles in its Ballymena plant. The 1st year will see c.201 buses delivered, part-funded by the ZEBRA scheme. This will benefit areas like East Yorkshire, Gloucestershire, the Isle of Wight, and Plymouth. The 2nd and 3rd years will focus on buses being delivered predominately to London. Rather fittingly, for every bus built, Go-Ahead and Wrightbus will plant 10 trees in the towns and cities where the buses are deployed. Mr Jean-Marc Gales, Wrightbus CEO, highlighted the deal’s significance for the UK economy and its role in decarbonising the transport sector.
Blackburn College has launched the UK’s first Level 2 Hydrogen Qualification, awarded by the Institute of the Motor Industry (IMI). This qualification aims to prepare students for careers in the hydrogen sector by providing essential knowledge and skills related to hydrogen technologies. The college is also developing safety standards for training personnel in EV qualifications, reflecting its commitment to future automotive technologies. This initiative positions Blackburn College at the forefront of hydrogen education in the UK, supporting the growing demand for skilled professionals in the hydrogen economy. We support and champion this!
InductEV has announced that Tesla will incorporate wireless charging technology in its upcoming Robotaxi. This is a significant event as it highlights the growing recognition that wireless charging is instrumental to the future of electric mobility. This company’s on-route wireless charging solution achieves efficiency levels that wired depot charging often struggles to match. Thus, this approach could result in a 25% reduction in total ownership costs compared to traditional wired chargers. The Tesla Robotaxi’s with this wireless charging is scheduled to be released in 2027.
Germany’s Social Democrats (SPD) are considering (new) EV subsidies as part of their 2025 strategy to boost EV adoption and support the automotive industry. This move comes amid increasing competition from Chinese EV manufacturers and the EU implementing tariffs on Chinese-made EVs. Some of the initial murmurs centre on re-introducing a purchase premium for battery-powered cars, providing tax rebates for electric corporate cars and putting EV quotas in place for leasing providers. The SPD’s proposal is also flirting with the notion of investing in charging infrastructure to make EVs more accessible and appealing to consumers. The party is aiming to address the challenges faced by the German automotive sector, which is undergoing a significant transformation towards electrification. By enhancing subsidies, the SPD hopes to accelerate the transition to electric mobility, reduce carbon emissions, and maintain Germany’s position as a leading automotive hub. The strategy also aligns with broader EU goals to achieve climate neutrality by 2050. These initiatives are part of a comprehensive plan to strengthen Germany’s competitiveness in the global EV market and ensure a sustainable future for the automotive industry
ProLogium Technology, at the 2024 Paris Motor Show, unveiled a groundbreaking 100% silicon anode battery, marking a significant advancement in battery technology. This is the world’s first 100% silicon composite anode battery. This new battery offers a substantial increase in energy density, thus enabling EVs to achieve longer ranges on a single charge. The silicon anode technology also supports faster charging times, addressing one of the major concerns for EV users. ProLogium’s approach replaces traditional graphite anodes with silicon, which can store more lithium ions, therefore enhancing the battery’s overall capacity. This development will help accelerate the adoption of EVs by providing more efficient and reliable battery solutions. ProLogium plans to integrate this technology into its existing production lines, aiming for mass production soon.
GAC, a Chinese automaker, is considering manufacturing EVs in Europe to mitigate the impact of potential tariffs on Chinese-made EVs. This move comes as the EU has voted to impose tariffs of up to 45% on EVs imported from China, which will take effect from next month. This decision follows an investigation into Chinese subsidies for EVs, which the EU claims are unfair and harm European manufacturers. GAC’s decision to look into local production is driven by the need to diversify its revenue streams, as the Chinese domestic market is heavily competitive and oversaturated. GAC has identified Europe as a growth region in the long term as demand for EVs continues. Although it does not yet sell EVs in Europe, it is planning to launch an electric SUV tailored to the European market at the Paris Auto Show this week.
Deals
BizzyCar, an American-based autotech solution startup, has secured $15m in growth funding, led by Dealer Tire. The platform aims to increase service revenue by automating recalls and streamlining operations, which helps enhance customer experience and ultimately customer satisfaction. BizzyCar plans to use the funds to accelerate the growth and scaling of its AI-driven platform, which automates service operations for dealerships across America and Canada. Mr Maher (CEO) highlighted that the partnership with Dealer Tire, which has a vast network of nearly 9,000 dealership customers and over 20 OEM relationships, will help BizzyCar scale effectively.
Brembo, the Italian premium brake manufacturer, has agreed to acquire Ohlins Racing, a Swedish suspension technology company, for $405m. This acquisition, Brembo’s largest to date, will be funded through available cash. Ohlins Racing, previously owned by (Apollo Global Management-backed) Tenneco, specialises in advanced suspension systems for both road and track, including products such as shock absorbers and steering dampers. The acquisition aligns with Brembo’s strategy to offer integrated intelligent solutions and expand its automotive market offerings. The deal, pencilled in to close in early 2025, will enhance Brembo’s capabilities in mechatronic suspension technology.