NEWSNOTES | November 16, 2023
News Notes

John O’Leary, the CEO of Daimler Truck notes that $52 billion of investment in charging infrastructure will be required to support the growth in electric commercial vehicles by 2032. Those investments are growing and Watt EV is a good example. As the operator of the largest heavy-duty public access electric charging site by capacity in the U.S. (at the Port of Long Beach) the company has recently received financing from the Apollo Funds and Vitol. The investment will support the development of near-term truck charging depots throughout California. There are more than 300,000 heavy-duty drayage trucks in the state. Innovators like Watt EV and Prologis are transforming trucking in California. As the largest owner of warehouses in the world, Prologis is building one of Southern California’s largest EV charging stations for trucks. Their charging facility is expected to service 120 trucks simultaneously. 

There’s more news this week related to the bankruptcy of EV and powertrain manufacturer Proterra. Swedish manufacturing giant Volvo Group will acquire the battery business. And this week Phoenix Motor was selected as the winning bidder to acquire Proterra’s transit business line. 

Kudos to electric terminal truck manufacturer Orange EV which has produced 1,000 of their trucks. The company delivered the 1,000^th truck to Lazer Logistics for deployment in California. The company has been around since 2015 and has accumulated 11.8 million miles with 230 fleets. For those seeking incentives in California, Pasadena Water and Power is offering several to encourage the purchase of both new and used EVs as well as the installation of charging stations. Those with homes or businesses in the area can take advantage of incentives for the purchase or lease of a new or used EV with an additional bonus if the vehicle is purchased or leased from a Pasadena auto dealer. 

Mullen Automotive has established a new high-energy facility in Fullerton, California, demonstrating their commitment to expand their manufacturing capability for next-generation American-made EV battery packs. Last year the company acquired a majority stake in Bollinger Motors, manufacturer of robust electric SUV trucks and commercial vehicles ranging from Class 4-6. Mullen expects to reach 50,000 EV units produced in 2023. 

If you or someone you know is seeking battery funding, the Department of Energy (DOE) has announced up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. DOE expects the demand for lithium batteries to increase up to 10 times by 2030. 

RESOURCES

Watt EV Announces Financing Partnership, Stock Titan | https://tinyurl.com/y5nrc5hh 

Electrifying Logistics, The Registry | https://tinyurl.com/5ftkh55s 

Proterra Finds Buyers for Its Business Units, Canary Media | https://tinyurl.com/3hdbr6jx 

Orange EV Builds 1000^th Electric Terminal Truck, Trucknews.com | https://tinyurl.com/2f2hcm3m

City of Pasadena EV Incentives, Pasadena Now | https://tinyurl.com/yum2rmu9 

Rivian Secures Georgia Land Deal for EV Plant, electrek | https://tinyurl.com/2mezhw84 

Mullen Automotive Unveils EV Battery Factory, Investing.com | https://tinyurl.com/32rz84s2 

Energy Department Announces $3.5 Billion in Battery Funding, Transport Topics | https://tinyurl.com/2dca2v69