SK On Acquires Full Control of Tennessee Battery Plant in Joint Venture Split with Ford
South Korean EV battery maker SK On completed the restructuring of its BlueOval SK joint venture with Ford, taking full ownership of the Tennessee battery plant while Ford assumed the Kentucky sites. The split, announced on May 22, 2026, is expected to cut SK On’s debt by about KRW 5.4 trillion ($3.6 billion) and broaden its customer base to include energy storage.
Dongfeng and Stellantis Announce $1.1B Joint Investment in Wuhan Plant
Dongfeng Motor Group and Stellantis have announced a joint investment of 1 billion euros (≈$1.1 B) in their Wuhan plant to produce new Jeep and Peugeot models for local and global markets. Dongfeng will fund the bulk of the investment, with Stellantis...
Geely Acquires Ford Valencia Assembly Line to Produce EVs
Chinese automaker Geely has signed a deal to purchase an entire assembly line at Ford's Valencia plant in Spain, allowing it to build hybrid and all‑electric vehicles for the European market. The acquisition helps Geely avoid EU tariffs and includes...
Pirelli Acquires 30% Stake in Univrses to Integrate 3DAI Tech Into Cyber Tyre
Pirelli has acquired a 30% stake in Swedish AI startup Univrses, gaining access to its 3DAI technologies for integration into Pirelli’s Cyber Tyre system. The partnership aims to enhance road safety and infrastructure monitoring by combining tyre sensor data with...
Pod Point Acquires EO Charging to Become UK's Largest EV Charging Provider
UK EV charging provider Pod Point, an EDF subsidiary, announced the acquisition of EO Charging, which entered administration in April 2026. The deal expands Pod Point's commercial‑fleet and energy‑management capabilities, adding depot‑charging software and hardware expertise. EO Charging’s customers, including...
Zaihe Truck Secures 1bn Yuan ($140M) in New Funding Round
Chinese AI heavy-duty truck startup Zaihe Truck announced the close of a 1 billion yuan (≈$140 million) funding round. The round was led by venture firms BV Baidu Ventures, Su Ventures and Lushi Investment, with additional financing from state-owned banks...
Ola Electric Injects $241M Into Subsidiaries OET and OCT
Ola Electric's board approved a Rs 2,000 crore ($241M) capital infusion into its wholly‑owned subsidiaries Ola Electric Technologies (OET) and Ola Cell Technologies (OCT) via compulsory convertible preference shares. The investment, split into Rs 1,500 crore for OET and Rs 500 crore for OCT, aims to...
Ford and CATL Announce $3 Billion Joint Battery Plant Venture
Ford Motor Co. and Chinese battery maker CATL have announced a $3 billion joint venture to build a new battery plant at Ford’s BlueOval facility in Marshall, Michigan. The partnership marks a rare Chinese investment in a U.S. automotive factory and...
Traton Group Issues $935M Green Bond and Loan to Fund BEV Trucks and Buses
Traton Group, the parent of Scania and MAN, issued a $550 million green bond and a $385 million green loan, totaling $935 million, to fund battery‑electric commercial vehicle projects. The financing, the first under Traton’s Green Finance Framework, supports emission‑free mobility for trucks...
Luxshare Precision to Acquire 59.5% Stake in BWI International
Luxshare Precision has signed a conditional agreement to acquire a 59.5% stake in Hong Kong‑listed auto components maker BWI International from its controlling shareholder Jingxi Zhixing Group. The deal, announced on May 10, will make Luxshare the ultimate controlling shareholder...
Polestar Secures $700M Equity Raise From Banks and Corporate Investors
Polestar announced it has secured $700 million in new equity from Sumitomo Mitsui Banking Corporation, Standard Chartered Bank (Hong Kong), Crédit Agricole CIB and Vida France S.A., as part of its Q1 2026 financing activities. The funding will support its growth and...
Baidu‑backed EV Truck Maker DeepWay Files for Hong Kong IPO
DeepWay, the Baidu‑backed electric‑truck maker, has filed for a Hong Kong IPO, aiming to raise capital for global expansion and autonomous‑driving R&D. The company reported 2025 revenue of 3.96 billion yuan (≈ $582 million) and has previously raised over $310 million in pre‑IPO funding. CICC and...
Be-Mobile Group Acquires SocialDrive to Strengthen Its European Driver Community
Be-Mobile Group announced the acquisition of SocialDrive, a leading community-driven traffic and mobility app in Spain, to expand its European driver community. The terms of the transaction were not disclosed. The deal was reported in a weekly autonomous vehicle news...
Scottish H2 Truck Maker HVS Sold for $184k in Pre‑pack Acquisition
Hydrogen Vehicle Systems (HVS), a Scottish fuel‑cell truck developer, was sold in a pre‑pack insolvency deal to H2 Vehicle Systems Ltd for $184k, acquiring its tangible and intangible assets. The transaction, reported on May 6, 2026, aims to preserve ongoing...
Lucid Raises $1.05B, Backed by $550M From Saudi Public Investment Fund and $200M From Uber
Lucid Group completed a $1.05 billion capital raise, securing a $550 million investment from Saudi Arabia’s Public Investment Fund and a $200 million equity investment from Uber, boosting pro‑forma liquidity to $4.7 billion. The fundraising, announced during its Q1 2026 earnings call, strengthens the EV...