The automotive giant will work with JVC Kenwood, a maker of portable power units, and Yokohama-based R Energy, which recycles Nissan batteries

The company's hyper-local business model will offer Statevolt "a significant advantage in producing lithium-ion batteries at scale", CEO Lars Carlstrom said

China's production of batteries for new energy vehicles (NEVs) ramped up by an impressive 206.9% in the first quarter from the same period in 2021, Xinhua has reported

The output of lithium-ion batteries used for power storage and for powering new energy vehicles stood at more than 9 GWh and 30 GWh, respectively

Congress last year approved $7.5 billion in government funding for EV charging stations but legislation has stalled for new tax incentives to purchase and build EVs

Companies face pressure from investors on environmental, social and corporate governance matters as automakers charge ahead on EV rollout and work to ensure battery minerals supply

World's biggest carmaker said on Tuesday it would invest 4 trillion yen ($35 billion) to build 30 battery electric vehicles by 2030 as it looks to tap the growing market of zero emission vehicles

Toyota and QunaSys will focus on EV batteries. Technique aims to speed up development as conventional supercomputers take months to do simulations.