Electric Vehicle

Magna acquires Veoneer for $3.8 billion in cash. The combination of the two businesses and the addition of relevant engineering and software expertise, reinforce its portfolio and industry position. [more]

The EV market is experiencing high activity as more EV-focused companies list publicly, expand product offerings, and create partnerships. However, EV sales growth has significantly declined in the past year. [more]

Lordstown Motors, an EV start-up based in the U.S., listed publicly on the NASDAQ through a merger with DiamondPeak. Lordstown’s stock has increased by 39% since it started trading publicly last month. [more]

Last month, XL Fleet, a provider of vehicle electrification solutions, announced plans to go public through a merger with Pivotal Investment Corporation II, a special purpose acquisition company. [more]

eResearch spoke with CEO William Trainer and VP of Corporate Development & Director John LaGourgue about the Company’s upcoming growth initiatives, including the launch of its new electric Vicinity model, and its plans to expand its presence in the U.S. market. [more]

Rumors of a revamped nickel-manganese-cobalt (“NMC”) battery with more nickel & manganese could fuel demand for nickel and manganese. Join Tesla’s battery day webcast on September 22 to hear all of the latest developments. [more]

According to a report by Bloomberg News on Monday, Nikola is currently under investigation by the SEC for false claims brought to light by Hindenburg Research, an activist short-seller research firm, who accused Trevor Milton, founder of Nikola, of fraud related to misinformation on Nikola’s technological capabilities and product offerings. [more]

Xpeng Motors, a China-based EV manufacturer, increased its U.S. IPO by more than 33% to $1.5 billion, providing a valuation of approximately $11 billion. This IPO is the third major U.S. listing made by a Chinese EV company in the past two years. [more]