Daily EV news · Global · 2 July 2026
EV Charging
Wallbox closes €11.8 million equity raise and €4 million investment to complete restructuring
Wallbox N.V. has completed a financial restructuring comprising an approximately €11.8 million equity raise and a separate €4 million investment by FOCUS ON NEXT FRONTIER, the investment vehicle of Rafael Ruiz. The equity raise includes €5 million from the Generalitat de Catalunya through IFEM, €10.65 million in previously announced equity financing, and approximately €1.1 million from capitalisation of original issue discount and paid in kind interest on a bridge loan. The transactions aim to strengthen Wallbox's balance sheet, reinforce liquidity, and support its long term business strategy.
Why it matters
The recapitalisation provides Wallbox with renewed financial stability to continue supplying EV charging hardware and energy management platforms to the global market. Procurement teams and charge point operators relying on Wallbox products gain assurance of supplier continuity and ongoing product development.
Electric Vehicles
TRUNNANO launches battery materials division for sodium ion layered oxide cathodes
TRUNNANO has announced the launch of a dedicated battery materials division focused on sodium ion layered oxide cathode materials. The move, reported by Charged EVs, signals the company's entry into the growing sodium ion battery supply chain. No specific production capacity figures or timelines were disclosed in the announcement.
Why it matters
Sodium ion batteries are emerging as a lower cost alternative for stationary storage and some EV applications, and new cathode material suppliers entering the market could diversify procurement options and reduce dependency on lithium supply chains for charging infrastructure operators.
Kia to launch replacement for discontinued affordable EV model
Kia has discontinued an affordable electric vehicle from its lineup but plans to introduce a replacement model in the near future. The move comes as the South Korean manufacturer adjusts its EV portfolio amid evolving market conditions. Specific pricing, specifications and launch timing for the replacement vehicle have not been disclosed.
Why it matters
The introduction of a new affordable EV model could influence fleet procurement decisions and expand charging infrastructure requirements in markets where Kia maintains significant presence. CPOs serving retail and workplace charging locations may see demand shifts as the replacement vehicle enters the market.
Toyota to compensate suppliers tens of billions of yen after scrapping flagship Lexus LF-ZC electric vehicle
Toyota has confirmed it will at least partially compensate suppliers following the cancellation of its flagship Lexus LF-ZC electric vehicle, with payments potentially reaching tens of billions of yen, according to Nikkei. Executive vice president Hiroki Nakajima announced the decision last week, noting that suppliers had already invested in specialised equipment for the model, which was intended to showcase battery advancements, Gigacasting and other cost cutting EV technologies. Toyota plans to deploy the developed technologies, including Gigacast, new electrical and electronic platforms for ADAS, and miniaturisation techniques, on a successor vehicle.
Why it matters
The cancellation and compensation highlight the financial risks suppliers face when OEMs pivot EV strategies, particularly for flagship programmes requiring bespoke manufacturing investments. For charging infrastructure players, Toyota's technology transfer to a successor model signals continued, albeit redirected, commitment to electrification that will eventually require supporting charging networks.
Grid & Energy
Moment Energy opens 1 GWh second-life EV battery factory in six weeks
Moment Energy has opened Megafactory 1 in Vancouver, BC, which it claims is the world's largest second-life EV battery factory, just six weeks after announcing the project. The facility repurposes retired EV batteries into commercial-scale battery energy storage systems for data centres, hospitals, factories and microgrids. The company expects the factory to produce 1 gigawatt hour of battery energy storage systems annually by 2030 and create more than 100 direct jobs plus over 1,000 indirect jobs across British Columbia.
Why it matters
The rapid deployment demonstrates a scalable model for meeting surging energy storage demand while creating a new supply chain for repurposed EV batteries, offering procurement teams an alternative to new battery systems for stationary applications. The 1 GWh annual capacity target by 2030 signals growing availability of second-life battery storage solutions for critical infrastructure projects.