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EV manufacturers and tech companies pledge to exclude ocean minerals from their supply chains

By Henry Neondo A partnership that brings together leading corporates and a conservation organization have today announced a commitment to not use minerals mined from the ocean in their electric vehicle batteries. BMW, joined by Samsung SDI, Google, and Volvo Group are partnering with the World Wildlife Fund (WWF) to make clear that the electric vehicle

mar 31 2021 6:52pm
mixed News : News
Visa moves to allow payment settlements using cryptocurrency stable coins

Visa has announced it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry according to Reuters. The pilot program with payment and crypto platform Crypto.com and plans to offer the option to more partners later this year, it said. Visa's use of the Ethereum blockchain removes the need to convert digital coins into traditional money before the transaction can take placeremoving pre-existing complexities for businesses in this new era of Decentralised Finance (DeFi). The USD Coin (USDC) is a stablecoin cryptocurrency whose value is pegged directly to the U.S. dollar. Tesla Inc boss Elon Musk said last week that customers can buy its electric vehicles with bitcoin, marking a significant step forward for the cryptocurrencys use in commerce. We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and were seeing demand from our clients to be able to build products that provide that access for consumers, Cuy Sheffield, head of crypto at Visa, said. Among the most immediate use cases noted by Sheffield: a growing number of crypto wallet firms have been coming to Visa in the hopes of issuing cards. But that issuance differs from traditional card issuance because these crypto firms have built everything on the foundation of digital currencies. [Crypto wallet firms] source consumer dollars in digital currencies, and they operate their corporate treasury in digital currency, so its sometimes been difficult for them to have to manage converting digital currencies back into traditional fiat that is deposited into banks just to settle their obligations with Visa through existing bank wires, he said. Traditionally, if a customer chooses to use a Crypto.com Visa card to pay for a coffee, the digital currency held in a cryptocurrency wallet needs to be converted into traditional money. The cryptocurrency wallet will deposit traditional fiat currency in a bank account, to be wired to Visa at the end of the day to settle any transactions, adding cost and complexity for businesses. Visas latest step, which will use the ethereum blockchain, strips out the need to convert digital coin into traditional money in order for the transaction to be settled. Visa said it has partnered with digital asset bank Anchorage and completed the first transaction this month with Crypto.com sending USDC to Visas Ethereum address at Anchorage. Africa Money and DeFi Summit The Africa Money DeFi Summit will connect Africa fintech leaders, global platforms and thought leaders on the new opportunities in Decentralized Finance (DeFi) at the fourth Africa Tech Summit in Nairobi . An array of keynotes, panels and breakout sessions will deliver key insights and offer opportunities to connect, network and do business across the African fintech and DeFi landscapes.

mar 31 2021 6:52pm
newsarticle News : Mixed
electric vehicles to dominate Lexus line-up by 2025

Lexus, a luxury car brand owned by Toyota Motor Corp, said on Tuesday it plans to introduce 20 new or improved models by 2025, of which more than 10 will be electric

mar 30 2021 9:19pm
mixed News : Mixed
Jaguar Land Rover teaches the AA how to deal with electric vehicles

Jaguar Land Rover (JLR) has partnered with the Automobile Association (AA) to prepare for a future of electric mobility in SA by training a group of line managers on EV-specific roadside assistance and vehicle recovery

mar 30 2021 9:06am
mixed News : Mixed
Mercedes to unveil electric sedan with 700 km range

Mercedes-Benz is about to unveil a new flagship model it expects to boast market-leading battery range, following through on its pledge to compete in the luxury electric-vehicle segment with top technology.

mar 26 2021 6:40pm
NN News : Mixed
Kona EV owners say Hyundai mishandling recall for battery fires

Some owners of Hyundai Motor's Kona electric vehicles say the South Korean automaker is bungling a major recall with delays and poor communication, and risks losing buyers as it targets the No.3 spot in the fast-growing sector

mar 25 2021 6:33pm
mixed News : Mixed
Local car tech startup launches SAs first electric bakkie

Vereeniging-based car tech startup Mazibuko Motors has created the country's first electric battery bakkie, the M1B Pick Up. The latest innovation is currently in the concept stages and plans to launch. In an interview with Ventureburn, Nhlanhla Mazibuko, CEO and founder of the innovative startup provides insight into what makes the electric bakkie unique. "We see the electric bakkie as unique because it mixes a tough rugged exterior with features of the vehicles of tomorrow such connectivity, self-driving capabilities, and over-the-air updates. Our focus on the car and in our company is a technology first and finding innovative ways to push that forward." Mazibuko Motors Founded in July 2020 by innovative entrepreneur Nhlanhla Mazibuko, the car tech startup aims to fast track the transition from fossil fuel-based transportation to a tailpipe-free one through the introduction of battery electric vehicles. "We are currently the only startup (that we know of) developing full passage battery electric vehicles from the ground up, we are also technology based and focused. Broken down, Mazibuko Motor Company is a host of mini-start-ups, solar installations, and battery storage,self-driving technology, charging stations and battery electric vehicles, " explains Mazibuko. The M1B Pick Up is a dual-motor all-wheel-drive battery electric bakkie. As a fully-self funded startup from inception, Mazibuko Motors is reportedly planning to enter a seed round of funding to increase investment into the startup. Mazibuko provides insight into the technology used to create the sustainable-first bakkie. "As a self funded start-up we had to be creative with our development and what we did was use a computer Model-Based Design approach. We make use of software to design, simulate and develop our vehicles, this approach yields almost 60% reduction in normal vehicle development costs." Plans that are on the cards for the Gauteng-based startup is to create more models in electric vehicles and will be released alongside the bakkie. In addition, the startup aims to push to market its other services offered such as solar and battery storage.

mar 23 2021 5:23pm
newsarticle News : Startups
To the future and beyond: The EV6 embodies Kia's new design philosophy

Kia has revealed the first images of the exterior and interior design of EV6, its first dedicated battery electric vehicle (BEV), ahead of the car's world premiere later in March.

mar 17 2021 5:38pm
sports News : Motoring
Volvo will start taking orders for the XC40 Recharge in April

The Volvo XC40 Recharge Pure electric - the first all-electric vehicle from the Swedish automaker - will be launched in SA during the second half of 2021. Equipped with twin electric motors delivering 304kW and 660Nm worth of torque this striking SUV offers surprisingly sprightly performance with a claimed 0-100kmh time of just 4.9 seconds

mar 11 2021 9:08pm
mixed News : Mixed
electric vehicles could make car dealerships a thing of the past

There's auto news out of Sweden: Volvo Cars says that it will be fully electric by 2030. No more internal combustion, no more hybrids. It's batteries or bust.

mar 5 2021 2:03pm
NN News : Mixed