Author: Casper Benedict

Volvo Cars’ sales declined by 3% year-on-year in December, reaching 73,804 units, as the demand for hybrid vehicles experienced a downturn. Despite the overall sales decline, the automaker saw a notable increase in the sale of electrified cars, including fully electric and plug-in hybrid vehicles, which rose by 20% compared to the same period last year. While fully electric vehicles (EVs) saw a boost, sales of mild hybrids, which rely solely on internal combustion engines, fell by 16%. The Swedish automaker, which is majority-owned by China’s Geely Holding, reported that its total sales for 2024 rose by 8% compared to…

Maextro, a new automotive brand established through a collaboration between Chinese tech giant Huawei and Anhui Jianghuai Automobile Group (JAC), is set to debut its first luxury model, the Maextro S800, on November 26. The unveiling will coincide with the launch of Huawei’s Mate 70 smartphone series, the company announced on Sunday. The Maextro S800, positioned as a high-end executive sedan, aims to compete with established luxury models, including the Mercedes-Benz S-Class, BMW 7 Series, Audi A8, and Nio ET9. At approximately 5.5 meters in length, the S800 stands as a prominent contender in its segment. Richard Yu, Huawei’s managing…

Chinese electric vehicle manufacturer BYD plans to proceed with the fourth phase of its industrial park in the Shenzhen-Shanwei Cooperation Zone, aiming to enhance its production capabilities, the Shenzhen municipal government announced on Tuesday. Once fully operational, the third and fourth phases of the facility are projected to generate an annual output exceeding 200 billion yuan ($27.63 billion), the Shenzhen government stated in a post on its official WeChat account. The announcement follows a significant milestone for BYD earlier this week, as the company celebrated the production of its 10 millionth new energy vehicle (NEV). “This marks a historic moment…

Electric vehicle (EV) sales in Australia fell by 25% in the third quarter, as car buyers increasingly shifted to hybrid models, according to data from the Australian Automobile Association (AAA). EV registrations declined from 25,353 units in the second quarter to 18,990 in the third, reducing their market share from 8.1% to 6.6%, the lowest level in two years. By comparison, the broader car market saw a less pronounced decline of 7.6% over the same period, the AAA said. Petrol-powered vehicle sales also fell, dropping 9.2%, but hybrid and plug-in hybrid electric vehicles (PHEVs) gained momentum. Hybrid sales increased by…

Tesla plans to equip all its best-selling U.S. vehicles with customized 4680 battery cells manufactured domestically, aiming to produce the cheapest EV batteries in the United States, according to recent company statements. The automaker anticipates reaching full-scale production of the 4680 battery by 2025, including four distinct battery types. These versions are tailored for different vehicles, with one variant designed for the high-demand Cybertruck and others intended for a 40 kWh pack expected to power a future Robotaxi, as well as the widely popular Model 3 and Model Y. Tesla’s 4680 cell production, initially plagued by delays and leadership changes…

U.S. Energy Secretary Jennifer Granholm announced on Tuesday that the Department of Energy (DOE) is working swiftly to finalize $1.7 billion in grants aimed at converting factories to produce electric vehicles (EVs) and related components. Speaking on the sidelines of the Reuters Next conference, Granholm emphasized the urgency of the department’s efforts, saying, “We are working as fast as we can to finalize as much as we can — to get the commitments in contract with all of those who have been selected.” In July, the DOE revealed plans to allocate funds to major automakers. General Motors is set to…

Mini, a subsidiary of BMW, has introduced two new models under its John Cooper Works (JCW) performance sub-brand at the Paris Motor Show. The new three-door Mini John Cooper Works Electric and five-door John Cooper Works Aceman bring racing-inspired technology to the electric vehicle (EV) segment, offering high performance and enhanced standard features. Both models are powered by a 190 kW electric motor, delivering 350 Nm of torque and a top speed of 200 kph. The three-door Mini John Cooper Works Electric accelerates from 0 to 100 kph in 5.9 seconds, while the five-door Aceman achieves the same in 6.4…

Lucid Motors has officially surpassed its total electric vehicle sales from 2023, marking a significant milestone with three months remaining in 2024. The company announced on Monday that it delivered 2,781 vehicles in the third quarter of 2024, setting a new record for the third consecutive quarter. However, Lucid’s sales figures still fall short of the ambitious projections it had set during its $4 billion reverse merger in 2021. The increase in sales comes at a critical time for Lucid, which continues to rely on financial support from its majority owner, Saudi Arabia’s Public Investment Fund, as it prepares to…

Luminar Technologies, a leader in lidar sensors for autonomous vehicles, has expanded its workforce reduction efforts, cutting approximately 30% of its employees since early 2024. This marks a significant increase from the previously announced 20% reduction as part of the company’s broader restructuring plan. The latest staff cuts are expected to result in an additional $4 million to $6 million in cash charges, primarily impacting Luminar’s financial results in the third and fourth quarters of 2024, the company disclosed in a recent filing. Earlier in the year, Luminar outlined plans to reduce its global footprint by sub-leasing portions of its…

Xpeng reported a significant rebound in vehicle deliveries for August, with 14,036 units sold, marking its sixth consecutive month of sequential growth. This represents a 26% increase from July’s 11,145 units and a 2.53% rise from the 13,690 vehicles delivered in the same month last year. For the January-August period, Xpeng’s total deliveries reached 77,209 vehicles, reflecting a 16.75% year-on-year growth. As of the end of August, the company’s cumulative deliveries since inception stood at 477,520 units. Xpeng officially launched the Mona array’s first model, the M03, on August 27. The electric sedan, offered in three variants with starting prices…

Tesla has begun accepting direct orders for its Cybertruck “Foundation Series” on its website, allowing buyers to purchase the launch edition of the electric truck without the need for a prior reservation. This limited-edition model will only be available for a few more months, with estimated deliveries scheduled for September and December for the dual-motor AWD and tri-motor Cyberbeast versions, respectively. The Foundation Series is described by Tesla as a “limited edition Cybertruck, only available for the first year,” according to a pop-up notification on the Cybertruck order configurator. Following this announcement, some reservation holders have noted the option to…

Lucid Motors’ upcoming Gravity electric SUV will reportedly include two separate charging ports, accommodating both Tesla’s North American Charging Standard (NACS) and the Combined Charging System (CCS) plugs. The news, first shared by X user BLKMDL3, or Zack, suggests that Gravity owners will be able to charge their vehicles at Tesla Superchargers and other networks utilizing CCS, without the need for adapters. “We were just told the Lucid Gravity will have 2 charge ports as shown here—1 with NACS and 1 with CCS,” Zack posted on X. https://twitter.com/BLKMDL3/status/1822719886864552176 While the exact placement of these ports remains unconfirmed, it is speculated…