Lotus Technology Inc. is having trouble finding a partner in Europe to build electric-vehicle batteries that will help it localize production and navigate the region’s complex content rules, its chief executive officer said. Securing an agreement with a battery manufacturer would save the sports-car maker the “tremendous” cost of building its own cell factory in Europe, but the search is proving t...
Lotus Technology Inc. is having trouble finding a partner in Europe to build electric-vehicle batteries that will help it localize production and navigate the region’s complex content rules, its chief executive officer said. Securing an agreement with a battery manufacturer would save the sports-car maker the “tremendous” cost of building its own cell factory in Europe, but the search is proving tricky, Qingfeng Feng said in an interview in London. “In China, you may instantly find five to six right partners,” Feng said through a translator. “But in the EU it simply didn’t work as we expect.” Owned by China’s Zhejiang Geely Holding Group Co Ltd. , Lotus faces European Union tariffs on Chinese-made EVs, while looming regulations aimed at reviving European manufacturing threaten to add to the pressure. The company makes EVs like the Eletre sport utility vehicle in China, while its Emira combustion engine sports car is built at its historic Hethel plant in the UK. Chinese manufacturers have been trying to ramp up manufacturing in Europe to meet local-content criteria, with some like BYD Co. seeking to take on underutilized plants. Read More: Europe’s Big Battery Fail Tightens Chinese Grip on EV Industry Europe’s efforts to create its own EV supply chain have faltered in recent years following the collapse of battery-factory startups Northvolt AB and Britishvolt Ltd. Lotus had agreed a deal with Britishvolt. Lotus is seeking investment from the UK government for its Hethel factory near Norwich as it struggles with high costs there, but also to help it shift some production to the region, Feng said. He declined to say how much he’s seeking. The company could build the plug-in hybrid version of the Emira and a new hybrid supercar, dubbed Type 135, in the UK, but Feng hinted that government support would be key to any decision. “Our team is currently actively making feasibility studies and investigating the potential solutions,” he said. “However, we would also like to get...
jetcityimage Stellantis ( STLA ) and Dongfeng Group on Friday announced the signing of a strategic cooperation agreement to expand their 34-year partnership through shared production of Peugeot and Jeep vehicles in China for the Chinese market and for sales worldwide. Stellantis ( STLA ) and Dongfeng Group also signed a non-binding strategic MoU to further strengthen their cooperation by leveragin...
jetcityimage Stellantis ( STLA ) and Dongfeng Group on Friday announced the signing of a strategic cooperation agreement to expand their 34-year partnership through shared production of Peugeot and Jeep vehicles in China for the Chinese market and for sales worldwide. Stellantis ( STLA ) and Dongfeng Group also signed a non-binding strategic MoU to further strengthen their cooperation by leveraging the two parties’ scale, expertise, and R&D capabilities in the industry. Powered by the favorable automotive industrial policies of the Hubei province and the Wuhan municipality, the project corresponds to a combined investment of over 8 billion Chinese Yuan (approximately 1 billion euros), of which Stellantis ( STLA ) is expected to contribute approximately 130 million euros. Under today’s strategic cooperation agreement, the Dongfeng Peugeot Citroën Automobile Co., Ltd (“DPCA”) joint venture is expected to produce at its Wuhan plant initially two all-new Peugeot-branded new energy vehicles, from 2027. These products are intended for China and the export to global markets as part of Peugeot’s international growth plan. The plan also includes the production at DPCA’s Wuhan plant of initially two Jeep®-branded off-road new energy vehicles for global markets, starting in 2027. More on Stellantis Stellantis N.V. (STLA) Q1 2026 Earnings Call Transcript Stellantis N.V. 2026 Q1 - Results - Earnings Call Presentation Stellantis: Alliance With Chinese Automaker Leapmotor Points To A Long, Tough Climb FDIC approval clears path for Stellantis' banking ambitions Stellantis expands Leapmotor tie-up with new Spain production initiatives
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. The message China wants to send by hosting Trump at Temple of Heaven In Chinese diplomacy, historic venues are rarely just backdrops, ...
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. The message China wants to send by hosting Trump at Temple of Heaven In Chinese diplomacy, historic venues are rarely just backdrops, and are often interpreted as rich in symbolism, carrying messages about history and bilateral...
Ideal Power ( IPWR ) has entered into a definitive agreements with certain institutional investors for the purchase and sale of an aggregate of 5,291,005 shares of common stock priced at the market under Nasdaq rules. The offering is estimated to result in gross proceeds of ~$30M and is expected to occur on or about May 18, 2026. The company intends to use the net proceeds from these financings to...
Ideal Power ( IPWR ) has entered into a definitive agreements with certain institutional investors for the purchase and sale of an aggregate of 5,291,005 shares of common stock priced at the market under Nasdaq rules. The offering is estimated to result in gross proceeds of ~$30M and is expected to occur on or about May 18, 2026. The company intends to use the net proceeds from these financings to advance commercialization of B-TRAN, including customer design-ins, custom development programs, initial production ramp with strategic partners, and general corporate and working capital purposes. "This financing strengthens our balance sheet at a pivotal moment for Ideal Power," said CEO David Somo . "With the accelerating demand for data centers and power, hyperscalers have focused on more efficient power architectures." Ideal Power ( IPWR ) shares were down 2.3% in extended trading on Thursday. More on Ideal Power Ideal Power Inc. (IPWR) Q1 2026 Earnings Call Transcript Ideal Power Inc. (IPWR) Q4 2025 Earnings Call Transcript Ideal Power Inc. (IPWR) Discusses Leadership Changes, Capital Raise and Commercialization Strategy Update - Slideshow Ideal Power targets $10M-$10.5M 2026 cash burn while expanding sales funnel to over $300M Ideal Power files to sell 631,332 shares via pre-funded warrants