Toyota reveals plans for its contribution to the EV market: Japan’s car manufacturing giant Toyota Motor has unveiled plans to introduce new technologies to improve the range, performance, and cost of EVs it plans to launch in the second half of the decade, Reuters reports. The company’s technology roadmap — which includes plans for battery development, factory redesigns, the streamlining of aerodynamics, and part replacements — is the automaker's “fullest disclosure” of its plan to compete in the EV market, where it has lagged behind competitors, according to the newswire. The roadmap was released a day before an annual shareholders meeting where governance and strategy — including the slow transition to battery EVs under former CEO Akio Toyoda — is expected to be evaluated.

Anything to land EV metals: Russia’s leading metal industry Artem Volynets’ blank check firm has agreed to acquire two Brazilian mines for USD 1 bn to secure precious metals for EV manufacturing, Bloomberg reported this week. London-listed ACG Acquisition is set to acquire the assets from private Appian Capital Advisory, with Volkswagen’s battery arm to back the acquisition with a USD 100 mn prepayment in return for future nickel deliveries. Other investors include Chrysler owner Stellantis, La Mancha Resource Capital and commodities trader Glencore which have all agreed to buy USD 100 mn of ACG stock. The transaction by ACG includes a nickel sulfide mine in Brazil’s Santa Rita and the Mineraçao Vale Verde copper mine in Serrote.

REMEMBER- Copper, cobalt, nickel, and lithium — critical minerals for EV and battery storage production — are expected to see a massive jump in demand in the coming years as countries roll out their plans for energy transition.

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Anchor funding for Africa’s climate adaptation: African Finance Corporation (AFC) Capital Partners — the AFC asset management subsidiary — has secured USD 300 mn in anchor funding led by the UN-backed Green Climate Fund, AFC Capital’s CEO Ayaan Zeinab Adam told Bloomberg in an interview this week. The outfit is currently in talks with other investors with fundraising expected later to scale up to between USD 450 mn and USD 500 mn, Adam said. The South Korea-based Green Climate Fund is committing USD 240 mn in funds while AFC will pour in USD 60 mn, she revealed. When the initial target is met, fundraising would continue to reach a target between USD 750 mn and USD 1 bn.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Several US EV charging equipment makers, including Blink and ChargePoint, say they plan to launch chargers with Tesla’s charging connector. (Reuters)
• DHL Global Forwarding — the air and ocean freight forwarding arm of Germany’s DHL — signed an agreement with the UK’s IAG Cargo to source 11.5 mn tons of sustainable aviation fuels from the UK company this year. (Statement)