Ritchies Transport and Zenobe have announced they are partnering up to deploy 172 new electric buses across Auckland over 9 months, starting in November 2025. This expansion will more than quintuple Ritchies’ electric fleet, marking a significant push toward sustainable public transport. Zenobe will take charge of designing, building, and managing 6 new electric bus depots in West and South Auckland, with the first depot already operational and the completion of the remaining 5 is pencilled in to be by August 2026. A key element of the rollout is Zenobe’s Battery as a Service model, which finances and oversees the battery lifecycle for the entire fleet, ensuring longevity and operational efficiency. The initiative aligns with Auckland Transport’s electrification timeline, supporting network modernisation and reducing carbon emissions. Zenobe described the rollout as a defining moment for New Zealand’s clean transport transition, highlighting the project’s role in establishing local infrastructure and expertise. Overall, this collaboration will boost New Zealand’s zero-emission bus fleet, strengthen sustainable transit infrastructure and set a new benchmark for urban mobility.
PowerCo Canada (a Volkswagen Group subsidiary) has announced it has commenced construction on Canada’s largest EV battery plant in Ontario. This will be a $7bn gigafactory covering 850,000 sq ft, with the first production expected in 2027. The foundational phase, managed by Magil Construction Canada, involves pouring 32,000 cubic meters of concrete, installing 4,850 tonnes of rebar, and preparing for steel erection led by Steelcon. This facility marks PowerCo’s 3rd and largest global gigafactory, aiming to produce the advanced Unified Cell battery technology for Volkswagen’s EVs. It represents a strategic effort to enhance North America’s EV battery manufacturing ecosystem, reinforced by significant federal and provincial support as part of Canada’s clean-energy strategy. Local and national officials have hailed the project’s economic and environmental impact. The plant is projected to create thousands of skilled jobs, with hundreds already under recruitment, while fostering resilient supply chains and reinforcing Canada’s status in EV battery production. Area representatives emphasised the gigafactory’s role in driving regional prosperity, clean tech innovation, and positioning Ontario as a global manufacturing leader.
New data released has shown that Wales has witnessed a material surge in EV charging infrastructure, with a 25.7% increase in public charging points over the past year, bringing the total to 3,813 chargers. This growth outpaces the UK-wide increase of 23%, where over 15,000 new devices have been added across the country, including more than 17,356 rapid or ultra-rapid chargers. A new charging point is now installed approximately every 33 minutes, reflecting the ongoing expansion. This progression is supported by the UK government’s £650m Electric Car Grant, which provides discounts of up to £3,750 on 39 eligible EV models, helping over 25,000 drivers transition to EVs. Efforts are also underway to ease access to home charging for renters and those without driveways by reducing planning hurdles, including saving drivers £250 on planning fees. ChargeUK praised the surge in private investment in high‑quality charging infrastructure as essential to the government’s Plan for Change. Further investment plans include a £25m scheme to support cross‑pavement charging and a £381 million initiative to roll out 100,000 additional charge points across England.
Geely and Renault Group have announced they have entered into a strategic partnership in Brazil. Geely has acquired a 26.4% stake in Renault Brazil, with Renault retaining majority control and consolidating the entity financially. This collaboration grants Geely access to Renault’s Ayrton Senna industrial complex in São José dos Pinhais, Paraná, facilitating local manufacturing of both Renault and Geely models to boost production efficiency and plant competitiveness. The partnership introduces the Geely EX5 electric SUV to the Brazilian market, which will be sold through Renault-branded dealers. Renault will also integrate Geely’s GEA new-energy vehicle (NEV) platform, broadening its electric and low-emission lineup for Brazil. Renault Brazil will distribute Geely’s NEV portfolio, leveraging its existing sales, finance, and after-sales channels to enhance market reach. Renault Group hailed the move as a decisive step in the company’s international strategy. Geely described it as a continuation of global synergies, following ventures in Korea and powertrain integration, aimed at optimising products, costs, and services.
The UK government has announced it has allocated £10m to support technologies that will enable EV chargers to operate off-grid. Thus, aiming to accelerate the rollout of ultra‑rapid charge points along motorways and major A‑roads, particularly in grid‑constrained and rural areas. Private operators can apply through Innovate UK by the 25th of March 2026, with projects required to support charging at least 12 EVs simultaneously, delivering around 120–145 miles in 15 minutes. This funding aims to break through existing grid limitations by promoting a mixture of renewables (e.g., solar) and battery storage, thus reducing the need for costly grid upgrades at challenging locations. The UK currently boasts (a record) 86,021 EV chargers, marking a 23% YoY increase, with rural regions, such as Yorkshire, the North West, Scotland, and Wales, experiencing the strongest growth.
Deals
Vammo, a Brazilian battery swapping startup, has raised $45m in Series B funding, led by Ecosystem Integrity Fund, to expand its operations across major cities. It offers a subscription service that includes electric motorcycles, financing, maintenance, and access to over 150 swap stations. Serving platforms like Uber, Rappi, and iFood, Vammo’s fleet of 5,000 e-motorcycles has completed over one million battery swaps, offering users a 30% cost reduction compared to ICEs. Vammo designs and manufactures its own batteries, swap hardware, and IoT software tailored to regional needs. With plans to invest R$500m in a new production and R&D facility in Manaus, the company is also exploring hybrid ethanol-electric models. Operating in Brazil, where electricity is 90% renewable, Vammo achieves 80% lower energy costs and 50% lower maintenance costs per kilometre.
Hydgen, a Mangalore‑based deep‑tech startup, has secured $5m in a pre‑Series A funding round, comprised of equity and debt, led by Transition Venture Capital. Investors such as Cloudberry Pioneer Investments, Moringa Ventures, and various family offices from India and Singapore also participated. Hydgen focuses on green hydrogen production through its proprietary Anion Exchange Membrane electrolyser technology in a cost‑effective and decentralised manner. The injection of capital is earmarked for R&D, certification, and the creation of semi‑automated production lines, enhancing manufacturing capacity in Mangalore and enabling global expansion into Europe and the Middle East. Target industries include chemicals, refining, mobility, and steel/manufacturing, sectors with high hydrogen demand. By addressing an estimated >$100bn green hydrogen market, Hydgen is positioned to help industries meet net‑zero targets while alleviating supply chain bottlenecks and decreasing hydrogen costs.
Ridepanda, an e-bikes-as-an-employee-benefit platform, has secured $12.6m in combined growth equity and strategic debt financing, led by the Bikeleasing Group. Investors such as Blackhorn Ventures, Yamaha Motor Ventures, Proeza Ventures, Somersault Ventures, Oyster Ventures, CSC Leasing, and Camber Road also participated. Currently, Ridepanda serves companies such as Amazon, Google, Goodwin Law, and the County of San Mateo. It will use the raised funds to expand its enterprise team, accelerate product development, and scale nationwide. Furthermore, the investment reflects a validation of Europe’s already established e‑bike benefit model, where Bikeleasing operates across 80,000+ employers and manages over 2.1 million leases annually in Germany.
EPIC, a Dallas-based auto-industry fintech, has secured $10m in Series A funding, led by FM Capital. EPIC operates as a digital clearinghouse for automotive loan payoff and title release processes, transforming slow, manual workflows into secure, automated operations and enabling dealers, lenders, and insurers to close payoffs in a more streamlined, efficient manner. The startup has processed over $23bn in loan payoffs and managed upwards of 1 million vehicles, showcasing its strong market traction. EPIC states the funding will support nationwide expansion and platform enhancements, targeting new markets such as powersports and RVs. Investors emphasise EPIC’s role in solving major industry bottlenecks, reducing errors, accelerating transactions, and lowering carrying costs for automotive stakeholders.
Seres Group Co., a Chinese EV manufacturer, has raised c.$1.8bn through its IPO on the Hong Kong Stock Exchange, pricing at the top of its range and exercising an extra allotment of 8.4 million shares, totalling 108.6 million shares sold at HK$131.50 each. The IPO price reflected a 22% discount to its Shanghai closing price of ¥155.19. Interestingly, the offering marks Hong Kong’s 8th financing round over $1bn this year, pushing total listing proceeds beyond Bloomberg's forecast of $26bn.