Savic Motorcycles has raised $2 million in a convertible note amid a changing of the guard at the decade-old Melbourne startup. Founder Denis Savic has moved to a strategic role, with Marc Alexander, a 25-year veteran of EV systems, autonomous platforms, IoT, consumer and automotive tech taking on the CEO role. The raise, finalised in… Read more »
As the electrification of transport and heating accelerates, many worry the increased demand could overload national power grids. In Australia, electricity consumption is expected to double by 2050. If everyone charges their car and heats water using electric systems at the same time, peak demand could rise sharply, forcing costly grid upgrades. But this would… Read more »
Renewable energy retailer Amber has raised another $45 million in venture capital as it ramps up global ambitions for its battery and EV automation technology. The round was led by UK/Europe-based impact investor ETF (Environmental Technologies Fund) Partners and supported by existing backers including Square Peg, Gentrack, Rubio Impact Ventures, and Breakthrough Victoria. Amber previously raised $29… Read more »
Sales of new battery electric vehicles (BEVs) in the first quarter of 2025 have fallen to 2023 levels, while demand for hybrid cars as nearly doubled over the past two years. New figures from the peak motoring body Australia Automobile Association’s (AAA) quarterly EV Index reveal 17,914 BEVs were sold in the three months to… Read more »
Battery materials startup Sicona Battery Technologies has raised AU$15 million from an existing investor, India’s Himadri Speciality Chemical, as part of a deal to commercialise its technology. The Wollongong startup previously raised $22 million in a Series A led by Himadri two years ago, adding to a $3.7 million in a pre-Series A in August… Read more »
While the Tesla CEO is busy rage-tweeting, Roman saluting, dialling into far-right German political rallies, cutting aid funding and sacking US government workers, sales of his car brand in Australia, as well as the rest of the world have gone over a cliff, with January’s poor results continuing in February. The plunge for Nasdaq-listed EV… Read more »
With government subsidies, tax incentives and potential cost savings, plus the ability to lower business vehicles’ tailpipe emissions, small businesses are finding more reasons to transition to electric vehicles (EVs). Whether your motivator is financial, environmental or both, here’s a step-by-step guide if you’re considering making the switch for your business. 1. Evaluate your current business… Read more »
Just before the end of FY2024, my wife and I went for test drives in electric vehicles to replace the 10-year-old SUV we’d used to ferry two kids to schools, sports and holidays, often with friends and/or dog in the back. We planned to downsize and go electric. Three Volvos on over 20 years, we… Read more »
Up until now, electric car manufacturer Polestar has typically displayed the mannered sensibilities of its Volvo heritage, right up to the SUV coupe Polestar 4. But as the company moves out of its Swedish home (Chinese-owned Volvo is keeping an 18% stake while dad, Geely, takes majority control) Polestar is looking to swap sensible for… Read more »
Electric vehicles are an increasingly common sight on Australian roads. Each one cuts carbon emissions by half compared to fossil fuel vehicles, but increases household electricity use by 50%. This extra electricity demand could be a major strain on the grid unless the charging of vehicles is coordinated. But the large batteries in electric vehicles… Read more »
Brisbane startup EVOS has raised $4 million as the first tranche of plans to raise $10m in a Series B. The fresh capital once again came from existing investors, 12 months after the electric vehicle (EV) raised $5 million in a Series A. EVOS was founded in 2020, by Marcelo Salgado, Seshan Weeratunga and Chris… Read more »
As Victorian premier Daniel Andrews heads to the exit door this afternoon after nine years, one mess his successor will need to clean up is the government’s road-user charge for electric and hybrid vehicles, which has been branded unreasonable by state’s Ombudsman Deborah Glass. The government introduced the Zero and Low Emission Vehicles (ZLEV) Act… Read more »
A Brisbane startup focused on fleet energy management and AC charging for electric vehicles (EVs) has raised $5 million in a Series A from existing investors. EVOS was cofounded by three former employees of the Nasdaq-listed Queensland fast charging company Tritium. It previously raised $1.7 million in a Seed round two years ago and since… Read more »
New car sales fell in March, down 3.9% on 12 months ago to 97,251, but the shift to electric vehicles is well and truly underway in Australia The monthly figures from the Federal Chamber of Automotive Industries (FCAI) reveal that battery electric vehicle sales grew by 19.5% on March 2022 figures along with plug-in-hybrid sales… Read more »
Electric car-sharing startup evee is raising capital via crowdfunding, as it looks to expand into the UK and EU markets. Evee launched in 2016 and is now hoping to raise $1.6 million in an equity crowdfunding campaign on Birchal. The company hit three million kilometres of electric vehicle (EV) sharing just days before kicking off… Read more »
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