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How long until we’re all driving electric cars?

How long until we’re all driving electric cars?
September 29, 2021

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Around the time -- September 2020 -- I was scouring the Internet for a used car, the first articles establishing the used car shortage were cropping up. Apparently, I wasn’t the only person bored with the ½ mile radius around my apartment. Once I’d decided to hand over my New Yorker ‘who needs a car in New York?’ card, the question then became: to electric car or not to electric car? I chose not, seeing the search for an EV charging station a bit too onerous at this stage in my life and, for that matter, this early in the transition to electric. While the federal government goal of being 50% electric vehicle sales by 2030 is laudable, the infrastructure to get there is still a ways off.

Still, the world is making progress. England just became the first country in the world to require that all new homes have EV chargers. This requirement comes ahead of England's 2030 ban of new fossil-fuel vehicles. The Paris Climate Agreement, which the U.S. rejoined at the start  Biden’s presidency, sets forth the carbon-reducing goals from which aggressive EV adoption stems.  
 

Volta Trucks from Sweden


Let’s take a look at some EV-industry companies making moves to ensure a departure from fossil fuels.  

Infrastructure

WeaveGrid is a software company figuring out how to manage the electric grid and charging stations. EV-users can join a waitlist now to gain access to the company's data of charging stations and benefits.

Commercial EVs

Electric Last Mile Solutions or ELMS is a Troy, Michigan-based, Indiana-made manufacturer of electric delivery vans. The company is hoping to become the next-gen of #vanlife vehicles and has secured a 1,000-van order before beginning manufacturing in 2020.

Volta Trucks is the Swedish counterpart in electric deliver trucks. The company has put a Swedish spin on things by implementing design features to rein in pedestrian and cyclist deaths in major cities caused by the increase in large trucks on narrow roads. Paris and London will be piloting the first fleet of vehicles.

Battery Manufacturer

Microvast is a battery manufacturer of commercial and consumer EV batteries as well as consumer products. The 2006 company reached a $3BN valuation this year in its SPAC merger with Tuscan Holding Corp.

Battery Resourcers is a closed-loop battery manufacturer, meaning the company uses old batteries for components to create new ones. The Worcester, MA company raised $70MM from investors including automaker Jaguar Land Rover.

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[Axios]
Since last week, PrivCo has added:

18.273 Companies | 18,374 Funding Activities | 43 M&A Deals

Funding & Deal Highlights:

Coalition raises $205MM from T. Rowe Price
Cyber Security • Round E • San Francisco, CA

Cardone Industries raises $33MM from Brookfield Asset Management
Auto Parts • Equity • Philadelphia, PA

Elligo Health raises $135MM from Morgan Stanley Expansion
Health • Round E • Austin, TX

Astera Labs raises $50MM from Fidelity 
Analytics • Round C • Santa Clara, CA

Battery Resourcers raises $70MM from Hitachi Ventures
EV Batteries • Round B-1 • Worcester, MA

Electrek raises $110MM from Cooperation DELA
Solar Electriv Vehicles • Equity • Fremont, CA

Hikma Pharmaceuticals acquired Custopharm for $425MM
Pharmaceuticals • Acquisition • Carlsbad, CA

Boston Scientific Corporation acquires DeVoro Medical for $336MM
Acquisition • Fremont, CA

Lindsay Goldberg acquires Summit Interconnect
Construction • Acquisition • Anaheim, CA

MFG Partners acquires Mellott Company
Industrial Services • Acquisition • Warfordsburg, PA

 
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