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Category: transportation – Page 272

Nikola And Corcentric Fleet Funding Solutions Sign Agreement to Facilitate Zero-Emission Vehicle Sales Financing

Agreement will finance sales of Class 8 battery-electric and hydrogen fuel cell electric vehicles to customers

PHOENIX 0, Jan. 20, 2022 /PRNewswire/ — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, and Corcentric Fleet Funding Solutions, a leading provider of leasing and financing solutions, today announced a signed agreement to facilitate sales of Class 8 Nikola Tre battery-electric vehicles (BEVs) and Nikola Tre hydrogen fuel cell electric vehicles (FCEVs). Pursuant to the agreement, Corcentric will purchase vehicles and related assets (e.g., charging assets) directly from Nikola to offer Nikola customers a bundled lease that provides Nikola trucks and related equipment, as well as fuel and maintenance, in a single agreement.

“We believe this partnership will allow Nikola to reach more customers by offering solutions to those who otherwise may not have access to financing options,” said Nikola Chief Financial Officer, Kim Brady. “The agreement will provide Corcentric a launching point to expand its offerings into the electric vehicle space. Together we expect to provide funding resources, multiple options to tailor leases to customer needs, and best-in-class customer care for fleet customers and owner/operators.”

Three Former SpaceX Engineers Are Designing New, Ultra-Efficient Autonomous Trains

And they can detach while still in motion.

Three former SpaceX engineers launched a company to develop autonomous battery-electric trains that they believe can help to improve the efficiency and emissions of railroads, a press statement reveals.

The firm, Parallel Systems, recently raised $49.55 million in Series A funds to build autonomous freight trains. The funding will go, in part, towards advanced tests for its self-driving machines.

Decarbonizing cargo transportation Railroads are a great testbed for self-driving technologies as the constrained movement of trains means there is less possibility for something to go wrong. On top of that, the transportation sector in the U.S. is the country’s largest source of greenhouse emissions, though rail is only responsible for 2 percent of total transportation emissions. Estimates by the Association of American Railroads suggest that a shift to rail and away from road transportation could reduce emissions by up to 75 percent.

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Mercedes Signs On To Use Luminar Lidar In Its Luxury Cars, Invests In Laser Sensor Maker

Luminar, a laser lidar startup led by one of the youngest U.S. billionaires, has a new partnership with Mercedes-Benz that includes supplying sensors for its luxury vehicles and gathering on-road data from them to improve automated driving. The German carmaker also bought a small stake in the tech company.

Luminar’s Iris lidar will be integrated into future Mercedes planned for its next-generation platform to improve safety and help them operate autonomously during highway driving, the companies said. Details including specific models that will use the sensor and when they’ll be available for sale to customers aren’t being disclosed. Mercedes also acquired 1.5 million Luminar shares as part of the partnership, founder and CEO Austin Russell, 26, tells Forbes.

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The luxury automaker is buying 1.5 million shares of the laser lidar startup that’s led by one of the youngest U.S. billionaires.

SpaceX Veterans Aim To Shake Up Freight Rail With Electric, Robotic Trains

Mile-long, slow-moving diesel trains loaded with cargo chugging slowly across the U.S. could be a thing of the past one day if stealth startup Parallel Systems has its way. The Los Angeles company thinks the future of freight lies in autonomous battery-powered trains that squeeze far more capacity out of existing rail lines.

Founded by a trio of former SpaceX engineers, including CEO Matt Soule, Parallel’s idea for smaller, flexible zero-emission trains pulling no more than 50 cars and operating with greater frequency than traditional behemoths that haul over 150 boxcars at a time caught the attention of tech-oriented venture firms, including Anthos Capital, Congruent Ventures, Riot Ventures and Embark Ventures. With their backing and from other investors, Parallel just raised $49.6 million to refine prototypes and software for its futuristic trains and, eventually, shift more freight hauling from trucks.

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L.A.-based Parallel Systems, which just raised $50 million, thinks it can squeeze far more capacity out of existing rail lines.

The Forever Battery That Promises to Change the EV Industry

Circa 2021

DETROIT – The EV Revolution is in full-swing right now. Tesla just passed the trillion-dollar valuation mark. Lucid Group just rolled out its first cars with 500+ miles of driving range. Rivian just had the biggest initial public offering since Facebook.

Every legacy automaker — from Ford to GM to Volkswagen — is investing tens of billions of dollars iino electrifying their fleets. The EV Revolution has arrived.

But here’s the thing: The EV Revolution won’t go mainstream until we make better batteries.

3D printing’s next act: big metal objects

A new metal 3D printing technology could revolutionize the way large industrial products like planes and cars are made, reducing the cost and carbon footprint of mass manufacturing.

Why it matters: 3D printing — also called additive manufacturing — has been used since the 1980s to make small plastic parts and prototypes. Metal printing is newer, and the challenge has been figuring out how to make things like large car parts faster and cheaper than traditional methods.

Tesla Giga Nevada to start using Redwood’s recycled battery components

On Tuesday, January 4, Panasonic announced that Redwood Materials would start supplying copper foil to its battery production facility in Giga Nevada. The Japanese tech giant announced the news during the 2022 CES tech trade show.

“Our work together to establish a domestic circular supply chain for batteries is an important step in realizing the full opportunity that EVs have to shape a much more sustainable world,” said Allan Swan, the President of Panasonic Energy of North America, at the latest CES tech trade show.

Redwood Materials, which former Tesla CTO JB Straubel founded, will be supplying Panasonic with copper foil made from recycled materials. The company recycles scripts from discarded electronics like cell phone batteries, laptops, power tools, and even scooters and electric bicycles. Redwood extracts materials like cobalt, nickel, and lithium, which are usually mined, from discarded electronics.

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