Alternative Vehicles

Arrow Electronics and Infineon Collaborate to Accelerate Automotive Electrification

Retrieved on: 
Monday, February 26, 2024

Arrow Electronics, Inc. (NYSE:ARW) and its engineering services company, eInfochips, are working with Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) to help eInfochips’ customers accelerate the development of electric vehicle (EV) chargers.

Key Points: 
  • Arrow Electronics, Inc. (NYSE:ARW) and its engineering services company, eInfochips, are working with Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) to help eInfochips’ customers accelerate the development of electric vehicle (EV) chargers.
  • The collaboration between Arrow and Infineon aims to help innovators navigate these challenges while accelerating time-to-market.
  • As part of the collaboration, Arrow’s High Power Center of Excellence has developed a 30kW DC fast charger reference platform.
  • This includes Infineon’s 1200V CoolSiC™ Easy power modules and also hardware design, embedded firmware, bi-directional charging support and energy metering functionality.

Faraday Future Announces Reverse Stock Split and Authorized Share Reduction

Retrieved on: 
Monday, February 26, 2024

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that the Company intends to implement a reverse stock split of the issued and outstanding shares of the Company’s common stock, par value $0.0001 per share (the “common stock”), at a ratio of 1-for-3 (the “reverse stock split”), that is expected to become effective at 5:00 p.m.

Key Points: 
  • Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that the Company intends to implement a reverse stock split of the issued and outstanding shares of the Company’s common stock, par value $0.0001 per share (the “common stock”), at a ratio of 1-for-3 (the “reverse stock split”), that is expected to become effective at 5:00 p.m.
  • As a result of the reverse stock split, every three shares of the Company’s issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock.
  • The reverse stock split impacts all holders of the Company’s common stock proportionally and will not impact any stockholder’s percentage ownership of the Company common stock.
  • Faraday Future has chosen its transfer agent, Continental Stock Transfer & Trust Company, to act as exchange agent for the reverse stock split.

YANGWANG Launched the U9, Priced at 1.68 Million RMB

Retrieved on: 
Monday, February 26, 2024

BYD, the world’s leading manufacturer of new energy vehicles and power battery, proudly unveils the first pure electric supercar model U9 under its high-end sub-brand, YANGWANG, priced at 1.68 million RMB, and announced the delivery will start in this summer.

Key Points: 
  • BYD, the world’s leading manufacturer of new energy vehicles and power battery, proudly unveils the first pure electric supercar model U9 under its high-end sub-brand, YANGWANG, priced at 1.68 million RMB, and announced the delivery will start in this summer.
  • The YANGWANG U9 packs a whopping 1,300 horsepower and a maximum torque of 1680N·m.
  • Additionally, YANGWANG U9 is equipped with 12 sets of active and passive aerodynamic packages to reduce drag coefficient and enhance heat dissipation efficiency.
  • The YANGWANG U9 boasts the Super Carbon-fiber Cabin, a structure made of different materials, and the next-generation CTB technology.

Faraday Future Announces Updated Master Plan 1.1 to Strategically Position Itself for Growth in 2024

Retrieved on: 
Monday, February 26, 2024

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today released an open letter from Matthias Aydt, Global CEO of FF, to share an updated master plan 1.1 for the growth of Faraday Future in 2024.

Key Points: 
  • Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today released an open letter from Matthias Aydt, Global CEO of FF, to share an updated master plan 1.1 for the growth of Faraday Future in 2024.
  • View the full release here: https://www.businesswire.com/news/home/20240225201526/en/
    Faraday Future Announces Updated Master Plan 1.1 to Strategically Position Itself for Growth in 2024.
  • 10,000 capacity - future potential annual production capacity at FF's self-operated manufacturing facility in Hanford, California with $200+ million invested.
  • Phase Two of the Company's Three-Phase Delivery Plan for the Company’s FF 91 2.0 Futurist Alliance launched in the third quarter 2023.

Itron and The Mobility House to Address Grid Constraints with First-of-its-Kind EV Fleet Electrification Program

Retrieved on: 
Friday, February 23, 2024

The first-of-its-kind program is designed to help utilities and grid operators address interconnection delays and infrastructure challenges associated with EV fleet electrification.

Key Points: 
  • The first-of-its-kind program is designed to help utilities and grid operators address interconnection delays and infrastructure challenges associated with EV fleet electrification.
  • With FIX, transportation electrification goals are achieved more quickly and at lower costs than traditional methods of distribution load assessments and infrastructure upgrades.
  • “As a result of widespread EV fleet adoption, utilities and grid operators are facing greater complexity related to grid preparedness,” said Don Reeves, senior vice president of Outcomes at Itron.
  • For more information, visit Itron’s booth #2200 at DISTRIBUTECH International from Feb. 27-29, 2024, in Orlando, Florida, or visit Itron’s EV Charging Management solution page .

Sila Launches New Educational Programs in Moses Lake, Investing $2 Million in Local Workforce Development

Retrieved on: 
Thursday, February 22, 2024

Sila, a next-generation battery materials company, announced today its new plan for workforce development through a first-of-its-kind education program geared towards training the future battery workforce in Moses Lake, Washington.

Key Points: 
  • Sila, a next-generation battery materials company, announced today its new plan for workforce development through a first-of-its-kind education program geared towards training the future battery workforce in Moses Lake, Washington.
  • The program–focused on providing hands-on training for technical, mechanical, electrical, and software skills–will prepare students for new employment opportunities at its silicon anode manufacturing plant, Sila Moses Lake.
  • Sila will provide each school one million dollars to offset the cost of equipment and curriculum development.
  • At full capacity, Sila expects to have up to 500 full-time employees and produce enough material for 1 million cars a year at this location.

Fisker Announces Timing of Fourth Quarter and Full Year 2023 Results and Webcast

Retrieved on: 
Thursday, February 22, 2024

Fisker Inc. (NYSE: FSR) ("Fisker") – driven by a mission to create the world’s most emotional and sustainable electric vehicles – today announced that it will report its fourth quarter and full year 2023 financial results after market close on Thursday, February 29, 2024.

Key Points: 
  • Fisker Inc. (NYSE: FSR) ("Fisker") – driven by a mission to create the world’s most emotional and sustainable electric vehicles – today announced that it will report its fourth quarter and full year 2023 financial results after market close on Thursday, February 29, 2024.
  • Speakers on the call will be Henrik Fisker, Chairman and Chief Executive Officer; David King, Chief Technology Officer; and Dr. Geeta Gupta-Fisker, Chief Financial Officer of Fisker Inc.
  • The conference call can be accessed via a live webcast accessible on the Events and Presentations page of Fisker’s Investor Relations website: https://investors.fiskerinc.com /.
  • In addition, Fisker will once again provide shareholders the ability to submit and upvote questions to management through a shareholder Q&A platform.

Charge Enterprises Announces Decision of Nasdaq Hearings Panel To Delist Common Shares

Retrieved on: 
Thursday, February 22, 2024

The Company had applied for an additional 180-day compliance period to regain compliance with Nasdaq Listing Rule 5550(a)(2) (the “Extension Request”).

Key Points: 
  • The Company had applied for an additional 180-day compliance period to regain compliance with Nasdaq Listing Rule 5550(a)(2) (the “Extension Request”).
  • On February 20, 2024, the Company received written notice from Nasdaq that the staff of Nasdaq had denied the Extension Request.
  • Nasdaq determined that the Company was not eligible for the Extension Request and reached its decision to commence delisting proceedings of the Common Stock because the closing bid price of the Company’s common stock has closed below $0.10 and may soon trigger delisting under Nasdaq Listing Rule 5810(c)(3)(A)(iii).
  • The Company anticipates that after delisting, the Company’s common stock will be quoted on the OTC Pink Market under the symbol “CRGE”.

Cummins promotes five new leaders to vice president

Retrieved on: 
Thursday, February 22, 2024

Cummins Inc. (NYSE: CMI) announced today the appointment of four leaders to the role of vice president, effective March 1 – Ricardo Roman, Michelle Probst, Gbile Adewunmi and Matt McQueen – in addition to Ashwath Ram, who was appointed Vice President in January.

Key Points: 
  • Cummins Inc. (NYSE: CMI) announced today the appointment of four leaders to the role of vice president, effective March 1 – Ricardo Roman, Michelle Probst, Gbile Adewunmi and Matt McQueen – in addition to Ashwath Ram, who was appointed Vice President in January.
  • Ricardo Roman – Vice President, Components Finance
    Roman stepped into the role of Controller for the Components Business Unit in 2022 during a critical period of evolution for the business.
  • Michelle Probst – Vice President, Leadership and Talent Development
    Probst recently expanded her role from Leadership Development to now leading Cummins Talent Development programs and processes globally.
  • Ram oversees the performance of the company’s five business units, including Engine, Power Generation, Distribution, Components and Accelera by Cummins.

TurnOnGreen Partners with Foxen Vineyard and Winery to Provide Electric Vehicle Charging for Guests and Employees

Retrieved on: 
Thursday, February 22, 2024

TurnOnGreen, Inc. (“TurnOnGreen” or the “Company”), announced today it has completed the installation and activation of multiple high powered EVP1100WG Level 2 electric vehicle (“EV”) charging stations at Foxen Vineyard and Winery (“Foxen”) in Santa Maria, CA.

Key Points: 
  • TurnOnGreen, Inc. (“TurnOnGreen” or the “Company”), announced today it has completed the installation and activation of multiple high powered EVP1100WG Level 2 electric vehicle (“EV”) charging stations at Foxen Vineyard and Winery (“Foxen”) in Santa Maria, CA.
  • The Company partnered with Foxen to provide EV charging services to their employees and guests at their tasting room and winery in Santa Barbara County.
  • In accordance with a Site Licensing Agreement ("SLA") between TurnOnGreen and Foxen, TurnOnGreen will assume ownership, operation, and maintenance responsibilities for the EV chargers for a term of five (5) years.
  • Foxen has a deep-rooted history of sustainability and environmental preservation practices that date back to the establishment of the winery.