Carrington Asset Management Limited – EV Supercar Maker Raises $537 Million to Build High-Performance Sports EVs
Hong Kong July 5, 2022 / — EV supercar maker Rimac Group has just raised a whopping $536.6 million to scale up to meet the demand for batteries and other systems to help the automotive industry go electric. Rimac Group, which oversees the manufacture of multimillion-dollar supercars like the Bugatti Chiron and the upcoming $2.4 million Nevera hypercar, plans to use the capital to build out the engineering and manufacturing capabilities of its subsidiary, Rimac Technology. Rimac Technology will produce tens of thousands of components annually, with products ranging from hybrid and full-electric battery systems to full rolling chassis. The company has already attracted several big-name automaker clients like Ferrari, Jaguar, Mercedes-Benz, Porsche, Hyundai, and Renault. The company’s planned expansion comes at a time when electric vehicle sales are experiencing substantial growth, signalling good things to come for companies like Livent Corpo.
Livent Corporation (NYSE: LTHM) and the developer of the first all-electric vertical take-off and landing jet, Lilium, announced a research and development (R&D) collaboration agreement to advance lithium metal technology for use in high-performance battery cells. Collaborating with Livent is an important step toward securing Lilium’s future access to the high-performance battery cell technology that will power Lilium’s jets. Livent supplies lithium to many of the world’s leading electric vehicle brands and battery manufacturers. As a fully-integrated lithium producer, Livent Corporation uses its differentiated technology processes to source raw lithium and manufacture a range of specialty lithium products in an environmentally-responsible, safe, and sustainable manner.
“Given these factors, it shouldn’t be surprising that LTHM is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you’re looking for a fresh pick that’s set to soar in the near-term, make sure to keep Livent on your short list”, said Peter Cohen Institutional Trading Director at Carrington Asset Management Limited Hong Kong.
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