Europe Gets Competitive

Updates from Flexis, Northvolt, and more.

👋 Watts up? The European Commission recently released its Competitive Compass, outlining its strategy for the next five years. This publication comes ahead of the anticipated Clean Industrial Deal. SolarPower Europe has welcomed the initiative, expressing the need for the deployment of fossil fuel alternatives. Also, Northvolt has agreed to sell its stake in Novo Energy to Volvo, following recent financial struggles, including its bankruptcy filing in November last year. Learn more on these stories, and others, in todays issue.

We hope you have a great day!

Company

Share Price

Change

STMicroelectronics (STMPA)

21.59

-9.23%

Tata Motors (TATAMOTORS)

699.95

-6.98%

NVIDIA (NVDA)

118.77

-3.98%

ChargePoint (CHPT)

1.01

+3.73%

Xiaomi (1810)

38.30

+3.23%

Infineon (IFX)

31.52

-3.06%

Data provided by Google Finance*

Flexis unveils a fleet of electric logistics vehicles

Image Credits: Flexis

🚗 Flexis, a joint venture between Renault Group, Volvo Group, and CMA CGM, has announced a range of urban logistics vehicles set for commercial release next year. Its goal is to develop fully electric, connected, and highly adaptable vehicles, fit for city logistics.

The range currently consists of three models:

  • Step-in van

  • Cargo van

  • Panel van

Very creative names, I know. Built on a platform developed by Renault Group’s Ampere, the vehicles feature real-time data transmission for fleet management and over-the-air updates. Plus, their high-capacity batteries enable both fast-charging and 450 kilometres of range.

Flexis has already invested around €350 million into product development, with pre-production scheduled for 2025 and full-scale production set to begin in 2026.

Flexis’ CEO, Philippe Divry, noted: “Our mission at Flexis is to support and accelerate the electrification of the urban logistics industry, which is looking to operate more sustainably, improve profitability and improve the operations security and safety for drivers in a sector that continues to grow.“

Also, Genesis Motor Europe has confirmed that it will become a fully electrified brand in 2025, releasing electric versions of its GV60, GV70, and G80 models later this year.

Northvolt to sell its stake in Novo Energy to Volvo

Image Credits: Northvolt

🔋 Swedish battery manufacturer, Northvolt, has agreed sell its stake in Novo Energy to Volvo. While the financial details remain undisclosed, the purchase will require approval from a U.S. bankruptcy court.

Novo Energy is a joint venture between Volvo Cars and Northvolt, which was formed in 2021. Following Northvolt’s bankruptcy filing last November, the company ceased its funding for Novo to prioritise its battery cell production business. As a result, Volvo Cars found Northvolt in breach of contract, so decided to acquire Northvolt’s stake.

Northvolt has faced many significant production challenges recently, including quality issues that led BMW to cancel a €2 billion contract last year. That being said, both companies have agreed to explore supply opportunities in North America, with a spokesperson from Northvolt stating: “The framework agreement with Volvo Cars shows that market interest in Northvolt remains strong.“

Also, EV charging software startup, WeaveGrid, has announced backing from two major auto companies, Hyundai and Kia. This news follows an earlier investment from Toyota.

The European Commission has published its Competitiveness Compass

Image Credits: European Commission

☀️ The European Commission has published the EU Competitive Compass, outlining its strategy for the next five years and incorporating findings from the Draghi report on Competitiveness. This publication comes ahead of the anticipated Clean Industrial Deal, expected next month.

In response, SolarPower Europe has welcomed the initiative, highlighting the Commission’s recognition of the EU’s structural reliance on fossil fuels and the need for the accelerated deployment of renewable energy. The company’s CEO, Walburga Hemetsberger, noted: “The European Commission’s commitment to competitiveness begins in earnest with this new publication. The Competitiveness Compass points to the right problem: our structural fossil fuel dependency. It also points to the right solutions: more renewables, faster electrification, and stronger system flexibility.“

Hemetsberger also pointed out that solar energy has been crucial for EU competitiveness, saving €59 billion on fossil fuel import costs in 2024. However, despite being the fastest-growing energy technology over the past five years, solar is now facing a potential slowdown. She urged policymakers to remove remaining barriers and support the expansion of clean, affordable, and locally produced energy.

In a recent report, DATAportl estimates that Europe in total added around 80 GW of solar capacity in 2024, representing a 15% increase compared to 2023.

If you’d like to read statements from other members of SolarPower Europe, you can view the press release here.

Also, Encore has received a $379 million investment from Brookfield, the investment is expected to support 25 projects across Vermont, New Hampshire, Maine, Illinois, and New York.

Embotech, Outsight, and Hesai collaborate to develop Automated Vehicle Marshalling

Image Credits: BMW Group

📱 Embotech, Outsight, and Hesai Technology have announced a strategic collaboration to integrate advanced lidar technology into BMW’s Automated Driving In-Plant (AFW) system. This initiative is a part of BMW’s Automated Vehicle Marshalling (AVM) technology, which aims to enhance efficiency and automation within its production facilities.

Embotech serves as the system provider for BMW’s global rollout of the AFW series operation. Within this framework, Outsight contributes an advanced lidar software platform that tracks vehicles and surrounding obstacles, while Hesai provides high-precision lidar sensors, which function as the "eyes" of the AVM system.

Currently, at BMW’s Dingolfing plant, newly manufactured vehicles are autonomously driven over distances exceeding one kilometre, moving from assembly halls to the finishing area without human intervention.

Alexander Domahidi, CTO of Embotech, praised the collaboration, stating: “The combination of Outsight’s sophisticated lidar software platform and Hesai’s reliable lidar sensors perfectly complements Embotech’s autonomous driving expertise.“

Also, SES AI has signed an MOU with AISPEX, worth upwards of $45 million. SES is expected to provide its proprietary AI for monitoring battery health and safety at AISPEX’s crypto mining site in Texas.

🙏 Thank you for taking the time to read our newsletter!

Feel free to share us around and check us out on social media, all support is greatly appreciated.

*As of 11:00am EST, on the same business day. Includes top movers from a curated list of companies we cover.

Reply

or to participate.