Author: Benedict Mcdaniel

Komatsu has unveiled its first-ever electric underground drilling and bolting rigs, marking a significant step forward for the Japanese construction giant’s hard rock mining portfolio. The new electric versions of Komatsu’s ZJ21 jumbo drill and ZB21 bolter are part of the second generation of the company’s Z2 line of small-class development drill and bolting equipment. These rigs feature an innovative resin-pumping system, optimized cabin ergonomics for operators, and advanced telematics. They are built on a common platform with a modular battery driveline designed to withstand the demanding duty cycles and challenges of hard rock mining. Johan Kempe, product director for…

Hazeltree’s April report has seen a significant shift, with Chevron surpassing Tesla as the most crowded short, a position Tesla had held for quite some time. This change reflects the evolving landscape of short interest in the market. Chevron, an oil company that has been consistently trailing Tesla in Hazeltree’s reports, saw short sellers’ interest rise from 7 percent in March to 9 percent in April. This increase represents a substantial shift, with approximately $500 million worth of the company’s stock now being used for shorting, according to the report. Tesla, on the other hand, experienced a strong performance in…

The Cross-E project, backed by the European Union, has kicked off with the aim of establishing high-power charging stations for electric vehicles (EVs) along key routes and ports across Europe. A total of 911 charging points are planned to be installed in eight countries. Of these, 838 charging points will deliver 150- and 350-kW charging capacities for cars and light commercial vehicles, while the remaining 73 points will offer 350 kW for heavy commercial vehicles and electric trucks. The cross-border project, subsidized by the EU with 34.45 million euros as part of the AFIF tender, is being executed by the…

The European auto industry could significantly reduce its carbon footprint by relocating battery manufacturing from China to Europe, according to new analysis by Transport & Environment. The study suggests that such a move could cut the emissions associated with battery production by 37 percent. Furthermore, if batteries were produced using mostly renewable energy, CO2 output could be reduced by as much as 62 percent. Julia Poliscanova, T&E’s senior director of e-mobility supply chains, highlighted the importance of this potential shift: “Batteries, and metals that go into them, are the new oil. European leaders will need laser-sharp focus and joined-up thinking…

Volvo Cars announced on Monday the completion of the distribution of 62.7 percent of its shares in Polestar Automotive Holding UK PLC to its shareholders in the form of Swedish Depositary Receipts (SDRs). Earlier this year, Volvo Cars announced its plan to discontinue funding its Polestar electric sports car brand. In early April, the automaker shared that it had finalized the terms and timetable for the distribution of its stake in Polestar to Volvo Cars’ shareholders. The SDRs represent Polestar Class A shares and can be converted into Polestar Class A ADSs, listed on Nasdaq New York. Shareholders have the…

Jaguar is poised to introduce a new era of electric vehicles (EVs) with a grand tourer set to debut later this year, marking the British automaker’s shift towards a bespoke electric platform. This new model is the first of three upcoming EVs that will utilize the Jaguar Electric Architecture (JEA), signaling the brand’s transition from a premium automaker to a luxury marque. According to JLR CEO Adrian Mardell, the upcoming grand tourer will be a unique design that will evoke strong reactions. “The first model will make people ‘salivate’ when they see it,” Mardell told Autonews. “Although it will be…

General Motors (GM) has announced a $390 million investment in Kansas to prepare for the production of the next-generation Chevy Bolt EV. This decision comes on the heels of GM’s recent announcement to discontinue Chevy Malibu production, one of the few remaining gas-powered sedans offered by Chevrolet in the United States. The Chevy Malibu, in production since the 1960s, will cease production by November 2024 as GM shifts its focus towards crossover SUVs and electric vehicles (EVs). In addition to the Chevy Bolt EV, GM plans to modify its Fairfax Assembly Plant in Kansas City for the production of the…

Tesla has reintroduced the Cyberhammer, a sledgehammer inspired by its Cybertruck, offering fans a chance to purchase the limited-edition item at a premium price. The Cyberhammer, described by Tesla as “ready or not, it’s hammer time,” is now available for a wider audience. The sledgehammer commemorates the Cybertruck unveiling, where Tesla’s design chief, Franz von Holzhausen, famously used a sledgehammer to showcase the toughness of the vehicle’s stainless-steel exoskeleton. The Cyberhammer, designed by Tesla’s Design Studio and made of steel, features a laser etching of Franz’s signature on the head, making it a true collectible. https://twitter.com/tesla_na/status/1770919613846417783 Initially, the Cyberhammer was…

India is contemplating offering incentives to encourage private companies to establish lithium processing facilities, as part of efforts to develop its budding lithium mining sector and enhance supplies of the EV battery metal, according to three government sources. Under a new critical minerals policy being developed by the mines ministry, the government would provide incentives to companies to set up lithium processing plants, the sources stated. “The critical minerals policy will be comprehensive and will cover all aspects from exploration to mining to value addition,” one source explained. “It will also cover incentives for beneficiation and refining within the country.”…

Hyundai Motor Group, alongside affiliate Kia, plans to utilize its existing investment in the United States to manufacture hybrid vehicles at its electric vehicle (EV) plant in Georgia. The automaker’s global Chief Operating Officer, Jose Munoz, announced this strategy at a business conference hosted by the Financial Times, stating, “I think we can handle (that) within the current investment more or less… It is already a lot.” The South Korean automaker is set to invest $12.6 billion in new dedicated EV and battery manufacturing facilities in Georgia, marking its largest investment outside South Korea. Munoz mentioned that the decision to…

The anticipated surge in electric vehicle (EV) adoption has hit a roadblock, leading automakers to reassess their strategies and reconsider their electric-only timelines. Volkswagen has joined this trend, highlighting the importance of plug-in hybrids as a transitional technology in the current automotive landscape. Volkswagen’s CEO, Thomas Schäfer, emphasized the significance of plug-in hybrids, stating, “we still need this transitional technology,” noting that the growth of battery-electric drive has slowed recently. Schäfer mentioned to Autocar that there has been a sudden surge in interest in hybrids, a technology once viewed as outdated. Schäfer expressed satisfaction with Volkswagen’s decision to continue offering…

Rimac’s CEO, Mate Rimac, revealed at the Financial Times Future of the Car conference in London that sales of the company’s $2 million Nevera hypercar have fallen short of expectations. Launched three years ago with plans to sell 150 of these 1,888 hp (1,914 PS / 1408 kW) quad-motor hypercars, only 50 have been sold to date. Rimac attributed part of the lackluster sales to the evolving landscape of the automotive industry. He noted that as electric vehicles (EVs) become more mainstream, there is a growing desire among consumers at the high end of the market to differentiate themselves. This…