Author: Alexander Reed

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…

The European Investment Bank (EIB) has pledged approximately 40 million euros to support Eldrive, a charging infrastructure operator, in constructing a total of 10,574 new charging stations for electric vehicles. The funding will be utilized for projects in Bulgaria, Romania, Lithuania, and Latvia. The overall cost of the initiative is estimated at around 174 million euros, with no specific timeline provided by the EIB. Eldrive, headquartered in Bulgaria but with offices in all three aforementioned countries, currently operates over 700 charging points in Bulgaria, Romania, and Lithuania. The company was previously mentioned in relation to OMV Petrom’s plans to expand…