Magnax: Belgian startup Magnax gets 16 million to mass produce powerful new motors for electic vehicles

Belgian automotive startup Magnax has raised €16 million in Series A funding to fuel development of its electric motor technology. The round was led by Hirschvogel Automotive, a large manufacturer of automotive components, through its investment arm Hirschvogel Ventures. The Magnax team is preparing the technology for mass production at Hirschvogel's facility in Germany. The [...] The post Belgian startup Magnax gets €16 million to mass produce powerful new motors for electic vehicles appeared first on Tech.eu.