Author: Alexander Reed

In a significant development on Friday, two U.S. House of Representatives committees jointly announced their investigation into Ford Motor’s recent collaboration with the Chinese battery giant, CATL. The partnership, which was revealed in February, involves an investment of $3.5 billion by Ford to establish a battery plant in Michigan, employing CATL’s cutting-edge battery technology. The House Ways and Means Committee and the Select Committee on China, led by Republican chairs Jason Smith and Mike Gallagher, have raised concerns about the implications of this deal. In a letter addressed to Ford, they demanded answers to critical questions about the partnership and…

As automakers delve deeper into the realm of electric vehicles (EVs), a new challenge arises: How can these futuristic cars effectively communicate with drivers without the familiar sounds and sensations of traditional gasoline engines and gearboxes? For high-performance EVs destined for the race track, this issue becomes even more critical. BMW M, known for its performance-oriented models, is acutely aware of this challenge as it ventures into the development of its inaugural electric model. To bridge this communication gap, the automaker is exploring groundbreaking solutions utilizing software. BMW’s CEO, Frank van Meel, recently revealed the company’s efforts to address this…

Jaguar’s Mitch Evans and Avalanche Andretti’s Jake Dennis emerged victorious in both Formula E races held in Rome over the weekend, setting the stage for an intense battle in the world championship. Sunday’s race, in particular, could prove decisive as Porsche’s Pascal Wehrlein now has only a slim chance of clinching the title. During Saturday’s 13th race of the season, Mitch Evans, a Jaguar factory driver from New Zealand, achieved an impressive feat by securing a hat-trick of wins in Rome. Having triumphed in both races last year, Evans extended his winning streak to three consecutive victories in the Eternal…

Despite the widespread media coverage and hype surrounding electric vehicles (EVs), the reality is quite different from the perception that every driver is rushing to buy an EV. New figures indicate that Ford, in particular, is encountering difficulties as it produces more Mustang Mach-Es than it can sell, leading to a mounting pile of unsold inventory. According to data from analytics firm Cloud Theory, Ford dealers experienced a significant decline in the “turn rate” of their Mach-E inventory. During the second quarter of 2022, they managed to sell 86.4 percent of their stock within 30 days. However, this figure dropped…

In a significant strategic move, Toyota, the Japanese automotive giant, has announced a shift in its hydrogen strategy, with a newfound focus on capturing market share in Europe and China instead of North America. The company has set an ambitious target of selling 200,000 fuel cell vehicles (FCVs) by 2030, primarily consisting of trucks but also including passenger cars. This decision marks a turning point for Toyota, as its previous emphasis had been on passenger cars and the North American market, a strategy that had experienced limited success. Despite launching the Mirai fuel cell electric vehicle (FCEV) about ten years…

In a remarkable turn of events, Rivian Automotive, the electric vehicle (EV) manufacturer, has witnessed a significant rebound in its stock prices following a challenging period marked by production and supply obstacles. The company’s stock, listed as RIVN, had experienced a downward spiral since its record-breaking $11.9 billion initial public offering (IPO) in November 2021, plunging to a low of $12.04 on April 26, 2023. However, recent developments have rekindled investor optimism for the EV manufacturer. Rivian’s resurgence began with an announcement in early July, revealing that the second quarter of 2023 had been the most successful in the company’s…

Luxury automaker Rolls-Royce is set to make a grand entrance at this year’s Goodwood Festival of Speed by bringing its entire lineup to the highly anticipated event. Among the highlights is the debut of the electric Spectre coupe, ready to conquer the festival’s renowned hill climb course. Alongside the Spectre, the Cullinan, Ghost, and Phantom models will also be on display, shining a spotlight on Rolls-Royce’s extensive customization options. The Spectre, boasting an eye-catching two-tone Chartreuse and Black Diamond finish, is equipped with impressive 23-inch wheels—a noteworthy feat as it marks the first time in nearly a century that such…

As the commencement of initial production draws near, sightings of the Tesla Cybertruck have been on the rise, building excitement for the upcoming handover event scheduled for the end of Q3 2023. Over the weekend, a Cybertruck prototype was spotted cruising through Austin, Texas, and to everyone’s surprise, Tesla CEO Elon Musk was seen behind the wheel at one point. Musk himself shared the excitement by posting a photo of an undisguised Cybertruck prototype on his Twitter account last Saturday. Accompanied by the caption, “Just drove Cybertruck around Austin!”, the tweet stirred curiosity among enthusiasts. Although Musk did not divulge…

The BMW Group has reported a significant increase in the delivery of fully electric vehicles (BEVs) during the second quarter, with a total of 88,289 units sold under the BMW and Mini brands. This remarkable figure signifies a remarkable achievement, as the company has more than doubled its BEV sales compared to the same period last year, representing a growth of 117.5 percent. However, while one brand thrives, another appears to be falling behind. In a recent statement by the BMW Group, it was revealed that the BMW brand accounted for 77,948 of the total BEVs delivered from April to…

Nissan is making significant strides in preparing its Canton plant in Mississippi for the electric vehicle (EV) era. With a pledge of $500 million, the company aims to remodel the facility into its primary hub for EV production in North America. Since its establishment in 2003, the Canton plant has successfully manufactured over 5 million conventional gasoline-powered trucks, crossovers, and vans. Now, after two decades, the sprawling 4.7 million-square-foot site is being revamped to cater to the production of electric vehicles. By the middle of this decade, the Canton plant will commence production of the first in a series of…

Electric vehicle (EV) startup Rivian (RIVN) experienced a significant boost in its share price, surging more than 14% on Friday following an upgrade in its price target by Wedbush analyst Dan Ives. Ives highlighted the company’s “major turning point” in executing its strategy, resulting in an upward revision of Rivian’s stock price target from $25 to $30 per share. This upward momentum in Rivian’s stock has been ongoing for over a week, with share prices witnessing a remarkable increase of over 80% since June 27, 2023. The recent surge in Rivian’s stock can be attributed to its impressive performance, surpassing…

General Motors (GM) has made a significant move by acquiring the majority of ALGOLiON Ltd’s assets, a battery software startup based in Israel. The acquisition, announced on Friday, aims to utilize ALGOLiON’s cutting-edge technology to identify irregularities in cell performance and ensure optimal battery health in GM’s electric vehicles (EVs). ALGOLiON, founded in 2014 by renowned battery experts Dr. Niles Fleischer and Dr. Alex Nimberger, has successfully developed AlgoShield, an innovative battery hazard detection and prevention software. Using proprietary quantitative algorithms, AlgoShield can detect even the most minute changes in EV battery health weeks in advance, without the need for…

Lucid Motors, the prominent electric car manufacturer from the United States, has commenced the delivery of its highly anticipated luxury sedan, Lucid Air, in Switzerland. Coinciding with the launch of Swiss deliveries, Lucid Motors has also unveiled the pricing details for two additional variants of the remarkable electric vehicle. The momentous occasion was marked by a special event held in Zurich, where the first Lucid Air EVs in the Dream Edition were ceremoniously handed over to customers. Notably, the prestigious five-star hotel, The Dolder Grand, served as the backdrop for this significant event, deviating from the customary location of Lucid’s…

In a recent announcement on Twitter, Tesla CEO Elon Musk revealed that the upcoming Full Self-Driving (FSD) Version 12 will no longer carry the beta status, indicating a significant milestone for the company’s autonomous driving software. The statement came as a response to a comment made by the Tesla-centric account While Mars Catalog, which speculated that FSD Beta 12 might be released later this year. Musk succinctly replied, “Version 12 won’t be beta.” This development signifies more than just the removal of a single word—it represents a notable shift in Tesla’s approach to its autonomous driving technology. https://twitter.com/elonmusk/status/1673584536167301122 Although Tesla…

Factorial Energy, a solid-state battery developer, has announced a strategic collaboration with Young Poong, a South Korean metal refining company, to explore and implement lithium-metal recycling in its production processes. By harnessing the potential of recycling excess metal materials, Factorial aims to contribute to the establishment of a more sustainable and circular economy. Headquartered in Massachusetts, Factorial Energy has been at the forefront of developing cutting-edge technology to support electric vehicle (EV) applications. The company has formed significant joint ventures with renowned automotive leaders, including Mercedes-Benz, Hyundai Motor Group, and Stellantis. The flagship product of Factorial Energy is its Factorial…

Renault’s CEO, Luca De Meo, revealed in an interview that a considerable portion of the planned electric vehicle spinoff from the company could be available in the free float on the stock market. While declining to comment on additional strategic investors beyond Qualcomm and Nissan, De Meo emphasized the importance of retaining a majority stake. In an interview with the business daily La Tribune, De Meo stated, “We need to leave some free float because we still want to retain a significant majority ourselves.” He further highlighted that their goal was to establish a higher percentage of free float, ensuring…

GAC Group, a prominent player in the automotive industry, has entered the realm of electric vertical takeoff and landing vehicles (eVTOL) with its latest creation. During a recent Tech Day event, GAC introduced the world to “Gove,” an eVTOL aircraft that has successfully completed its inaugural flight. The name Gove is a clever amalgamation of the initials of GAC, On the Go, Vertical, and EV, signifying its role as a potential component of GAC’s integrated mobility solutions in the future. Gove boasts a unique design that allows for the separation of its vehicle and chassis. When operating on land, the…

The Hague’s transport company, HTM, has announced an ambitious plan to introduce 95 electric buses into its fleet, marking a significant step towards sustainable urban transport. The procurement deal was struck with EvoBus, a subsidiary of Daimler, and is set to be officially awarded on July 7th, pending the final approval of all parties involved. The agreement includes the delivery of 95 eCitaro buses, with a combination of solo and articulated models, along with the necessary charging infrastructure. Additionally, the contract features an option for further electric bus acquisitions in the future. By mid-2024, the new electric buses will replace…

Automaker General Motors (GM) has inked a deal with Element 25 to procure manganese sulphate, a crucial battery mineral, for its North American electric vehicle (EV) production. This move comes as part of GM’s strategy to secure a stable supply chain for its EV manufacturing. The announcement caused Element 25’s shares to surge by over 20%. GM’s agreement with Element 25 marks its second endeavor to source Australian battery minerals, reflecting the global scramble among automakers to secure vital resources. Last October, the company revealed its plan to acquire an equity stake in Queensland Pacific Metals to secure nickel and cobalt…

Ford Motor is reportedly making preparations for another wave of layoffs targeting its salaried workforce in the United States. The Wall Street Journal, citing sources familiar with the matter, revealed this development on Thursday. Last year in March, the company had disclosed its plans to reduce structural costs by up to $3 billion within its gas-powered vehicle division. Subsequently, in August, Ford had announced a total of 3,000 job cuts for salaried and contract positions, primarily in North America and India. The latest report from the Wall Street Journal indicates that the impending round of layoffs will impact employees in…