Author: Casper Benedict

In a recent blog post by moomoo Technologies Inc., an estimate suggesting a mere 2% take rate for Tesla’s Full Self-Driving (FSD) was highlighted, based on data from YipitData tracking nearly 3,500 Tesla owners. This figure quickly garnered attention on social media, with industry watchers noting its potential accuracy in the absence of a response from Elon Musk or Tesla. However, Elon Musk, CEO of Tesla, disputed this claim, stating in a post on X that “The take rate is much higher than 2%. Please.” Musk’s assertion challenges the notion of a low adoption rate for FSD, a key component…

Porsche has initiated production of the Macan EV at its facility in Saxony, Germany, following an investment of nearly $1 billion (600 million euros) to upgrade the site. The upgrades include a new body assembly line, with Porsche currently in the process of ramping up production of the new Macan. CEO Oliver Blume emphasized Porsche’s commitment to electromobility, stating, “At Porsche, we’re convinced that electromobility is the future.” The Macan marks Porsche’s second all-electric vehicle, following the Taycan. Despite this focus on electric vehicles, Porsche aims to maintain flexibility by producing gas, hybrid, and electric cars on the same production…

Elon Musk, CEO of Tesla, has disclosed plans for the rollout of the Full Self-Driving (FSD) suite on the Tesla Cybertruck, targeting a release in late June. Despite being on the market for about six months, the Cybertruck has yet to receive the FSD feature, a key aspect of Tesla’s autonomous driving technology. The delay in equipping the Cybertruck with FSD is attributed to the vehicle’s unique features, such as the steer-by-wire system and camera positioning, which differ significantly from other models in Tesla’s lineup. Musk’s recent comments indicate that Tesla is prepared to introduce FSD on the Cybertruck. He…

Tesla’s recent offer of a free month trial for its Full Self-Driving (FSD) package to all North American owners has yielded a disappointing conversion rate, with only about 2% of participants opting to purchase or subscribe to the feature, according to credit card data. The trial, which started in March, coincided with a price reduction for the FSD package from $12,000 to $8,000, or $99 per month for the subscription model. This pricing adjustment came as a surprise, as CEO Elon Musk had previously indicated that Tesla would continue to increase the price of FSD as the technology improved. Despite…

Kyle Vogt, the former CEO and co-founder of General Motors’ self-driving unit Cruise, has announced the launch of a new robotics company, The Bot Company, after stepping down from Cruise in November following an accident. Vogt revealed the news in a LinkedIn post on Monday, stating that he had partnered with Luke Holoubek, a former Technical Advisor for Cruise, and Paril Jain, previously a Tech Lead and Manager in artificial intelligence (AI) at Tesla, to start the new venture. “We’re building bots that do chores so you don’t have to,” Vogt wrote. “Everyone is busy. Bots can help.” The company…

Qwello, a provider of EV charging infrastructure solutions, has acquired Park & Charge, a Netherlands-based company established in 2016. The acquisition will allow Park & Charge to continue operating independently in the local market, focusing on growth in the public sector. It also provides an opportunity for both companies to expand more rapidly to meet the increasing demand for charging stations. Dr. Henrik Thiele, founder of Qwello, highlighted the strategic fit between the two companies, stating, “In Park & Charge, we have found a partner that not only shares our values but also aligns with our European growth strategy.” The…

Fisker has continued its struggle for survival with another round of price cuts, even as its first electric vehicle, the Ocean, finds some success in the market. The company has announced that the 2023 Ocean Sport, its entry-level model, has sold out in the continental United States. Originally priced at $38,999, the Ocean Sport saw its price slashed to $24,999 in March, a move that helped drive sales. Although the Sport variant is no longer available, Fisker is offering discounts on the remaining Extreme and Ultra trims. Customers will now benefit from a waiver of the $2,438 destination and handling…

Chinese automaker BYD is set to introduce its first-ever pickup truck model, the BYD Shark, with a global debut scheduled in Mexico. The vehicle’s specifications were revealed on BYD’s Mexican website ahead of its official unveiling. The BYD Shark pickup measures 5,457 mm in length, 1,971 mm in width, and 1,925 mm in height, with a wheelbase of 3,260 mm. It is built on BYD’s DMO platform, emphasizing its off-road capabilities with a dual-mode design. Powered by dual motors, the front motor generates 170 kW of power and 310 Nm of torque, while the rear motor produces 150 kW of…

Stellantis, the automotive giant formed from the merger of Fiat Chrysler and PSA Group, is reportedly exploring an investment opportunity in Indonesia’s nickel supply chain. The company is in discussions with mining company Vale and Chinese firm Huayou Cobalt regarding a potential investment in a nickel smelter in Indonesia. The talks with Vale and Huayou Cobalt signal Stellantis’s commitment to electric vehicles (EVs) and its strategy to secure battery metals for its EV expansion plans. PT Vale Indonesia is known for its nickel mining operations on Sulawesi island, while Huayou Cobalt is a major producer of nickel and cobalt. The…

Cruise, the self-driving unit of General Motors (GM), has announced plans to commence testing its autonomous vehicles on public roads in Phoenix, Arizona. This move marks Cruise’s reentry into the driverless robotaxi business, with a new approach involving supervised operations. The company has been gathering road information and mapping Phoenix for several weeks in preparation for this phase. Cruise will now validate its autonomous vehicles’ end-to-end behaviors against its safety and performance standards, with the vehicles being supervised by a safety driver during testing. https://twitter.com/Cruise/status/1790056402670805158 In a blog post, Cruise emphasized the importance of supervised autonomous driving as a critical…

U.S. Treasury Secretary Janet Yellen warned of a possible significant response from China following any new U.S. tariff actions, just days before the Biden administration is expected to announce new tariffs targeting several key sectors. Speaking to reporters after a broadband event in rural Fredericksburg, Yellen emphasized that any changes to tariffs, originally imposed under former President Donald Trump, would be strategically focused. “We’ve been clear that in reviewing it we may decide that it’s appropriate to reconfigure what’s been done in a more strategic way,” she said. Yellen refrained from detailing the impending changes but assured that Chinese officials…

European Union countries have given their final approval to a groundbreaking law aimed at significantly reducing carbon dioxide emissions from trucks. The law mandates that most new heavy-duty vehicles sold in the EU from 2040 onwards must be emissions-free. Under the new law, there will be a 90% reduction in CO2 emissions from new heavy-duty vehicles by 2040. This means manufacturers will need to sell a substantial portion of fully CO2-free trucks, such as electric vehicles and those powered by hydrogen fuel, to offset any remaining sales of new CO2-emitting vehicles in 2040. Currently, the majority of trucks on Europe’s…