Author: Benedict Mcdaniel

Tesla has communicated to its suppliers its intention to commence production of a new mass-market electric vehicle (EV) known as “Redwood” by mid-2025, according to sources familiar with the matter as reported by Reuters. Described by two of the sources as a compact crossover model, the EV aims to contribute to Tesla’s goal of making electric vehicles more accessible to a broader market. CEO Elon Musk had initially pledged to produce a $25,000 car in 2020, a plan that underwent shelving and subsequent revival, as highlighted in the report. Last year, Tesla sent out a “request for quotes” to suppliers…

Tesla disclosed its financial results and shareholders’ letter for the fourth quarter and full-year 2023 after the market closed today, revealing earnings of $0.71 per share (non-GAAP) and revenue of $25.167 billion in the last quarter. This figure missed expectations, prompting an update on the company’s performance. The GAAP earnings, however, stood significantly higher at $2.27 per share, with Tesla attributing the difference to a one-time non-cash tax benefit of $5.9 billion recorded in Q4. This benefit was associated with the release of a valuation allowance on certain deferred tax assets. Despite the higher GAAP earnings, Tesla’s gross margin on…

Cadillac’s high-end electric vehicle, the Celestiq, has officially entered production, as confirmed by the company’s Vice President, John Roth. General Motors, Cadillac’s parent company, unveiled the Celestiq in 2022, positioning it as the brand’s premier electric vehicle (EV). The vehicle boasts an anticipated 300 miles of range, a swift 0-60 MPH acceleration rate of 3.8 seconds, and a suite of luxurious features. Previously disclosed by Cadillac’s Chief Marketing Officer Melissa Grady Dias, the entry-level configuration of the Celestiq is priced at approximately $340,000. Roth shared in a media briefing that the production process is already underway, noting, “We have already…

Tesla has unveiled its new Adaptive Headlights feature for the European version of the Model 3 Highland through a recent software update, version 2024.2. The Adaptive Headlights, aimed at enhancing nighttime driving, will adjust to minimize glare for fellow motorists and cyclists. Initially introduced with the rollout of the new Model 3 Highland, labeled “Highland,” Tesla has now extended the functionality to European vehicles. The Adaptive Headlights, designed to improve visibility in low-light conditions, selectively dim certain pixels of the headlights. See also: Tesla Model 3 Highland Faces Rigorous Nürburgring Test as YouTubers Push Its Limits According to release notes,…

Ford is exploring the off-road potential of electric trucks with the F-150 Lightning Switchgear concept, a collaboration between Ford Performance and RTR. Drawing inspiration from the F-150 RTR Ultimate Fun-Haver, the concept features a distinctive exterior design with custom carbon composite bodywork, including a widebody kit with bulging fenders and prominent vents. Beyond the visual enhancements, the concept incorporates functional upgrades such as front and rear bumpers to enhance approach and departure angles, a front skid plate, steel rock rails, and a substantial spoiler. Notable additions include 18-inch wheels paired with 37-inch Nitto Ridge Grappler tires, as well as a…

Researchers at Harvard University’s John A. Paulson School of Engineering and Applied Sciences (SEAS) have introduced a novel solid-state lithium metal battery with the capability to recharge in a mere 10 minutes. The research, outlined in a publication in Nature Materials, outlines a pioneering method for developing solid-state batteries featuring a lithium metal anode. Lithium metal anode batteries are hailed as a breakthrough in battery technology due to their remarkable tenfold increase in capacity compared to commercial graphite anodes, potentially revolutionizing the range of electric vehicles. Xin Li, Associate Professor of Materials Science at SEAS and the senior author of…

TuSimple Holdings has announced its voluntary decision to delist from the Nasdaq and terminate registration with the U.S. securities regulator, resulting in a 40% drop in premarket trading for the autonomous driving technology company. Having gone public in 2021, TuSimple cited a decline in valuation and liquidity since its IPO, coupled with increased stock price volatility. See also: TuSimple Advances Autonomous Trucking Testing in Japan and China Amidst Company Restructuring In a statement on Wednesday, the company attributed the downturn in its fortunes to a rise in interest rates and heightened market caution prompted by macroeconomic uncertainties. TuSimple anticipates its…

On Tuesday, Ram, a subsidiary of Stellantis, introduced its inaugural electric vehicle (EV) for the US market—the Ram ProMaster electric van. With a city driving range of up to 162 miles and a range of innovative features, Ram views this EV as a significant advancement in zero-emission performance, commercial capabilities, and technology. According to Tim Kuniskis, CEO of Ram, the ProMaster EV is a “game-changer” for the brand, aligning with the evolving automotive landscape as the market increasingly shifts towards electric vehicles. Last year, the US witnessed the delivery of a record 1.2 million EVs, prompting Ram to join the…

Blue Bird Corporation (Nasdaq: BLBD) has clinched a milestone order for electric school buses from the Los Angeles Unified School District, marking the largest single order of its kind from the second-largest public school system in the United States. The order, totaling 180 electric school buses, supplements the 26 Blue Bird electric school buses already part of the school district’s fleet. This substantial acquisition is a pivotal step for the school district’s initiative to transition its Sun Valley Bus Yard to 100% electric by 2026. The Los Angeles Unified School District anticipates significant annual savings with this electric school bus…

Japanese automaker Mazda has disclosed plans to embrace Tesla’s North American Charging Standard (NACS) for its forthcoming lineup of battery electric vehicles (BEVs) in North America, set for release starting in 2025. The decision aims to offer Mazda EV owners a broader array of charging options, leveraging Tesla’s extensive network of over 15,000 Superchargers across North America, as outlined in a press release by the company. Mazda’s previous foray into the U.S. electric vehicle market faced challenges, notably with the MX-30, which achieved modest sales of 181 units in 2021 and 324 units in 2022. In July 2023, Mazda withdrew…

Ride-hailing giant Uber is teaming up with electric vehicle (EV) manufacturer Tesla to accelerate the adoption of electric cars among its drivers in the United States. The collaboration aims to support Uber’s ambitious goal of achieving emission-free operations in U.S. and Canadian cities by the year 2030. In an exclusive statement to Reuters on Tuesday, Uber revealed its strategy to address the primary concerns voiced by its drivers—ownership costs and convenient charging infrastructure. As part of this initiative, Uber is offering drivers special incentives of up to $2,000 for the purchase of Tesla’s popular electric models, the Model 3 and…

American regulators are scrutinizing the safety of the 2023 Fisker Ocean, following a series of alarming complaints from vehicle owners who report hazardous declines in braking performance. The National Highway Traffic Safety Administration (NHTSA) has confirmed the reception of nine complaints related to the 2023 Ocean, including one incident that resulted in a fire. As a response, the NHTSA has initiated a preliminary evaluation, focusing on approximately 4,000 units of the electric vehicle. See also: Fisker Initiates Final 2023 Over-the-Air Software Update for Ocean Electric SUV Complaints lodged by owners encompass a range of issues, all centered around braking concerns.…