Author: Benedict Mcdaniel

Tesla has officially confirmed a 50% reduction in the $7,500 federal tax credit on two Model 3 trims starting next year. Since the 2023 reform of the electric vehicle incentive program, buyers of all Model 3 vehicles have had access to the tax credit, contingent on individual eligibility based on income. However, changes in eligibility criteria for electric vehicles, including factors such as price and source of components, are now in effect. Tesla has indicated that the evolving criteria, particularly related to battery materials, are becoming more stringent each year, with an emphasis on incorporating batteries and materials produced in…

Toyota’s upcoming 2024 bZ4X electric SUV is set to see a price increase of up to $1,070 compared to the previous model, according to recent order guide data. The base model, 2024 bZ4X XLE, will have an MSRP of $43,070, while the AWD variant starts at $45,150, both reflecting a modest price hike. In tandem with the pricing adjustments, Toyota is offering a special financing rate to maintain competitiveness in the electric vehicle market. Despite the higher pricing, Toyota aims to entice buyers with a 1.99% APR financing offer, valid until December 5, for up to 72 months. This special…

General Motors (GM) CEO Mary Barra voiced disappointment in the company’s electric vehicle (EV) production for 2023, attributing challenges to constraints. However, optimism prevails as GM unveils a $10 billion buyback plan, a 33% increase in dividends, and reduced spending on Cruise. Barra acknowledged disappointment but remained confident, stating, “Although I am disappointed with our Ultium-based EV production in 2023, we have made substantial improvements.” The setback was clarified as a manufacturing hurdle related to automation in building modules, not an Ultium issue. Barra highlighted ongoing improvements and expressed expectations to overcome challenges by mid-next year. Despite the setback, GM’s…

German luxury automakers BMW and Mercedes-Benz are set to establish a joint venture in China to build a comprehensive charging network. The agreement, signed by BMW Brilliance, BMW’s joint venture in China, and Mercedes-Benz, outlines a 50:50 shareholding collaboration. The joint venture aims to deploy a minimum of 1,000 supercharging stations across China by the end of 2026, providing approximately 7,000 supercharging piles. According to a press release, the charging stations will initially commence operations in key new energy vehicle (NEV) cities in China starting in 2024, with plans for expansion to cover more cities and regions in subsequent phases.…

UK-based battery materials and recycling company Altilium Metals has secured over £700,000 in innovation funding from the UK government for two collaborative research initiatives focused on recovering copper and rare earth elements from mine waste. The projects, conducted in partnership with CPI and Camborne School of Mines, aim to develop environmentally friendly processes for recycling battery metals and rare earth elements from mine tailings. Altilium intends to leverage mine waste, or tailings, controlled by the company in Europe for both projects, aligning with the goal of transitioning to a circular economy. The focus is on mitigating waste, reducing the need…

The highly anticipated Tesla Cybertruck is set to make its official debut on November 30th, and as the delivery event approaches, some new details and accessories have surfaced through the Tesla app. While key specifications are still awaited, the leaks provide insights into additional features and options that could accompany the groundbreaking electric pickup. One notable addition is the introduction of a new mode called “Beast Mode,” hinted at by Elon Musk in a recent podcast with Joe Rogan. The leaked image suggests that Beast Mode will be visually represented on the vehicle’s large infotainment screen, similar to the Plaid…

Lucid Motors has decided against adopting Tesla’s controversial yoke steering in its upcoming Gravity SUV. The move comes as Tesla faces a divided response from its fanbase regarding the unconventional rectangular steering apparatus. Derek Jenkins, Senior Vice President of Design and Brand at Lucid Motors, revealed the company’s considerations during an event previewing the Gravity model. Despite exploring the possibility of incorporating a yoke, Lucid ultimately deemed it a compromise they were unwilling to make due to concerns about operability. “We just felt it was a compromise we weren’t willing to make,” Jenkins stated. In contrast to Tesla’s approach, Lucid…

In a letter dated November 28th, 2023, a consortium of 3,882 U.S. car dealers reached out to President Biden, expressing their concerns regarding the stringent requirements for electric vehicle (EV) sales mandated by his administration. While the dealers acknowledged the appeal of battery electric vehicles (BEVs) for many consumers, they asserted that the current demand does not align with the influx of BEVs arriving at their dealerships. The primary concerns outlined in the letter revolved around charging infrastructure limitations, particularly for customers without home charging options who rely on public networks. The dealers argued that these regulations are unrealistic given…

The UK government has revealed its Battery Strategy, a significant roadmap aimed at fortifying domestic supply chains for electric vehicles (EVs) and reducing dependence on Chinese-manufactured batteries. With an allocation of £2 billion for capital and research and development funding until 2030, the strategy places a central focus on supporting zero-emission vehicles, batteries, and their associated supply chains. Key investments outlined in the strategy include £38 million for the UK Battery Industrialisation Centre, £12 million for the Advanced Materials Battery Industrialisation Centre, and £11 million earmarked for 20 technology innovators across the battery value chain. Highlighting the importance of international…

Swedish electric transport service provider, Einride, has inaugurated its initial ‘Smartcharger Station’ for electric trucks in Rosersberg, Sweden, signaling a collaborative effort with infrastructure developer and investor Polar Structure to establish a global charging infrastructure for heavy goods vehicles. The Rosersberg charging park, equipped with a total of nine charging points, features five ‘Charge & Go’ points for fast charging and an additional four ‘Charge & Park’ stations for overnight slow charging. The facility is designed with a load management system, allowing simultaneous charging for up to eight electric trucks. While Einride did not specify the reason behind the limitation…

French automotive portal L’Argus previously reported in September about the forthcoming Smart #2, slated to hit the market in 2025 as the successor to the Smart Fortwo. The report suggested that Renault and Smart would collaborate on producing the upcoming electric Twingo, aiming to offer it for less than 20,000 euros. This partnership was seen as essential for Renault to achieve its targeted price point. Renault CEO Luca de Meo acknowledged ongoing discussions with potential partner manufacturers to share costs. According to L’Argus, both the new electric Renault Twingo and the Smart #2 would utilize the AmpR Small platform (formerly…

Swedish company Northvolt is exploring the Canadian province of Quebec as a potential site to industrialize its Cuberg lithium metal battery system designed for electric planes, according to statements made by Paolo Cerruti, the head of Northvolt’s North American division. Cerruti shared the information during an event at the Chamber of Commerce of Metropolitan Montreal, emphasizing that a final decision is still years away. “We are looking at it. It is very early on, we are a few years away. Probably second half of this decade,” mentioned Cerruti during discussions with reporters. The aviation industry, aiming for more fuel-efficient designs,…

US semiconductor giant Nvidia is bolstering its autonomous driving division in China with the recent addition of industry veteran Wu Xinzhou. Having posted a job advertisement on November 28, the company is actively recruiting talent for its autonomous driving team in China, headed by Wu, who previously served as the smart driving chief at Xpeng. The job listings encompass roles in Product Engineering, Data Curation, and Auto Labeling, with office locations spanning Beijing, Shanghai, and Shenzhen, as outlined in the recruitment announcement. Nvidia’s Drive ecosystem boasts collaboration with numerous entities, including automakers, truck manufacturers, shuttle companies, Tier 1 suppliers, sensor…

Tesla experienced a temporary adjustment to the deposit amount for its highly anticipated Cybertruck, raising questions about potential signals related to the vehicle’s impending launch. Since its unveiling in 2019, the Cybertruck has been a focal point for Tesla, garnering significant attention despite initial challenges, notably the unbreakable window demonstration mishap. Tesla CEO Elon Musk proudly announced over 250,000 reservations within a week of the vehicle’s debut. Typically, reservation numbers for new Tesla models follow a pattern of an initial surge followed by a tapering off. However, the Cybertruck has been an exception to this trend, sustaining strong reservation numbers…

The chief executive of Stellantis, Carlos Tavares, has indicated that the multinational automotive company is open to adjusting its electric vehicle (EV) strategy based on the outcomes of key elections in the U.S. and Europe next year. During discussions with the press at Stellantis’ Mirafiori plant in Turin, Italy, Tavares underscored the company’s attentiveness to the results of the European Parliament elections in June and the U.S. presidential election in November. He acknowledged the possibility of adapting Stellantis’ approach “if political and public opinion tends toward fewer EVs.” Tavares emphasized the company’s readiness to respond to evolving political landscapes, stating,…

A manager at a Tesla showroom in San Diego has confirmed that the Cybertruck on display in the facility is equipped with a 123 kWh battery, contrary to the initially touted 500-mile range. Previous reports suggested a range of approximately 267 miles, prompting a reevaluation of Tesla’s ambitious mileage claims for its electric pickup truck. Tesla CEO Elon Musk had announced the Cybertruck with a promised range of 500 miles (805 km) when the electric pickup was initially unveiled four years ago. However, with the disclosure of the 123 kWh battery capacity, the practicality of achieving this range appears to…

Lithium-ion battery pack prices have witnessed a notable 14% reduction to $139 per kWh compared to the previous year, according to BloombergNEF’s (BNEF) annual battery survey. BNEF’s survey findings project a volume-weighted average cost of $128/kWh for lithium-ion battery packs in electric vehicles (EVs) in 2023. The survey indicates that the average price for cells within EV battery packs stands at $89 per kWh, with cells comprising 78% of the total pack cost. This marks an increase in the cell-to-pack cost ratio compared to the traditional 70:30 split. China emerges with the lowest lithium-ion battery pack prices, recording $126/kWh. Notably,…

In the realm of electric vehicles (EVs), the lithium-ion battery stands out as a key cost factor that has undergone a notable transformation in the past decade. According to the Bloomberg New Energy Foundation (BNEF), the average price of a lithium-ion battery in 2013 was $780 per kilowatt-hour (kWh). Fast forward to the present, and the average cost has plummeted to $139/kWh, marking a record low that is 12 percent lower than 2022 prices. This decline is attributed to increased production capacity and diminishing costs of raw materials and components. Evelina Stoikou, Senior Associate in Energy Storage at BNEF, noted…

Zero-emissions aviation firm ZeroAvia has wrapped up its Series C funding round, securing a total of $116 million. The UK Infrastructure Bank has joined the investor lineup, alongside major contributors Airbus, Barclays Sustainable Impact Capital, and the NEOM Investment Fund (NIF). This financing round, known as Series C, is earmarked to propel research and development efforts aimed at scaling up clean propulsion technology for larger aircraft. ZeroAvia’s mission centers on integrating hydrogen-electric engines into every aircraft, presenting an environmentally sustainable solution to mitigate the aviation industry’s climate impact. With an eye on the future, ZeroAvia seeks to achieve the significant…

The CEO of Mazda, Masahiro Moro, has offered a pragmatic perspective on the electric vehicle (EV) landscape, emphasizing the ongoing challenges and consumer preferences in an interview with Fortune. Moro, while acknowledging the significance of EV technology, presented a nuanced viewpoint, suggesting that the EV market is not evolving as rapidly as anticipated. Moro’s interview highlighted the growing presence of Tesla in the EV sector, noting that, in the U.S., Tesla accounted for 57% of the 8% EV market share this year. Expressing concerns, Moro stated that non-Tesla EVs are struggling to gain traction, leading to inventory accumulation. Mazda, known…