Weekly Roundup: 10th-16th May
- Toyota launches first BEV
- Volkswagen pledges to make 800,000 EVs this year
- Buses arrive for Orange Line BRT in Karachi
An Electrified Future
Pakistan’s ezBike raises $1M in its first pre-seed round
ezBike, Pakistan’s first electric bike-sharing service has generated $1 million in its first ever pre-seed round through an electric mobility startup. The company announced that the pre-seed capital will be used to accelerate the EV transition in the country and build a comprehensive ecosystem for electric bikes. The investors included i2i ventures, walled city, GroundUp and a leading angels in the US. Read the full story here.
Toyota rolls out first battery electric car a little too late
Toyota Motor has rolled out its first battery electric car in Japan for lease only. Toyota will lease the BZ4X sport utility vehicle (SUV) at the equivalent of $39,000 for the first four years. Pre-orders have now started in some European countries as well. Check out the full story here.
Volkswagen pledges to build 800,000 EVs by the end of this year
Volkswagen has pledged to build 800,000 electric vehicles (EVs) by the end of the year to continue its mission of sustainable transport. The company plans to make half its global output electric by 2030. If VW manages to achieve the EV goal this year, it will place the company second only to Tesla in terms of EV production. You can read the full story here.
Of Mass Transit
Buses for Orange Line BRT arrive at Karachi port
Orange Line Bus Rapid Transport (BRT) service has received buses at Karachi port. Sindh Minister for Information, Transport and Mass Transit Sharjeel Memon said the construction and civil work on the Orange Line project is 98% completed. He further added that the remaining buses will arrive in Karachi within a month. Check out the full story.
EV Trouble
Mercedes-Benz recalls 292,000 vehicles urgently
Mercedes-Benz has issued an urgent recall in the US impacting 292,000 vehicles over a braking issue. NHTSA has issued a “do not drive” notice for the affected models until the brakes can be inspected and replaced, if necessary. The recall was issued because of corroded brake boosters that impact the braking capability and increase risk of crash. Here is the full story.
Ford unloads shares of EV maker Rivian for $188M
Ford Motor Co. has unloaded 7 million shares of electric-vehicle startup Rivian. Ford’s stake reduces from 12% to 10% at Rivian. The EV maker earlier slashed its production to half as it struggles to keep up with the competition in the market. Here are the complete details of the story.
About Us
This week in Transport is a weekly round-up of everything happening in the transportation world; from sustainable transport initiatives to expansion plans, and implementation of an intelligent transport system. Watch this space for more sector news!