Author: Casper Benedict

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…

Porsche has built a new battery storage system to supply power to its Leipzig plant using used batteries from pre-series and factory vehicles of the Taycan model. This initiative marks a significant step in utilizing second-life batteries for stationary energy storage. The new storage system comprises 4,400 battery modules, which originate from at least 133 Taycan vehicles. The two-storey Performance Battery Plus, standard in the Taycan Turbo and Taycan Turbo S, contains 33 cell modules, while the regular Taycan and Taycan 4S use a Performance Battery with 28 cell modules. These pre-series and factory vehicle batteries have endured higher loads…

Rivian is set to accelerate production and delivery of its Electric Delivery Van (EDV), currently exclusive to Amazon, by targeting additional customers to justify the increased output. In the Q2 Earnings Call, Rivian highlighted the future significance of the EDV in its business strategy, contingent on sufficient demand for the all-electric delivery vans. While the market has limited electric van options beyond Ford’s Transit and Mercedes-Benz’s Sprinter, Rivian aims to establish the EDV as a formidable competitor. Having initially launched the EDV in select regions, Rivian expanded its reach across the United States, with over 15,000 units now in use…

Huawei in collaboration with Anhui Jianghuai Automobile Group Corp. (JAC), announced the formation of a new automotive brand named Maextro, targeting the ultra-luxury market. The announcement was made by Richard Yu, chairman of Huawei’s smart car solutions unit, at the launch event for the Stelato S9 electric sedan, a model from another of Huawei’s automotive ventures. “Huawei is committed to helping automakers build cars and promote the upgrading of the smart car industry,” said Yu. Maextro marks the fourth brand established under Huawei’s Harmony Intelligent Mobility Alliance (HIMA), joining Aito, Luxeed, and Stelato. According to a report by local media…

Rivian aims to reach profitability in the final quarter of this year, despite posting a net loss of $1.46 billion in the second quarter. A crucial factor in Rivian’s financial outlook is the significant investment from Volkswagen, which is expected to be reflected in upcoming balance sheets. The collaboration to develop car software between Volkswagen and Rivian, announced at the end of June, features prominently in Rivian’s Q2 report. The U.S. company confirmed that the first $1 billion from Volkswagen has already been received and will be included in the Q3 balance sheet. Volkswagen plans to invest up to $3…

Benteler has obtained the necessary approvals for Saudi Arabian investor Tasaru Mobility Investments to invest in its subsidiary Holon. This deal brings millions in funding to support the expansion of Holon’s autonomous electric shuttle business. The agreement, initially announced in February, involves Tasaru Mobility Investments acquiring a minority stake in Holon for a three-digit million sum. Benteler confirmed that all regulatory formalities have been completed, including approvals from the EU competition authority and the German Federal Ministry for Economic Affairs and Climate Protection. The new funds will be used to advance the development and industrialization of the Holon Mover, an…

Waymo announced on Tuesday its latest expansion of the Waymo One driverless ride-hailing service to new areas in California, extending its reach in both San Francisco and Los Angeles. The company’s new service areas include the San Francisco Peninsula, covering Daly City, Broadmoor, and Colma, now available 24 hours a day. In Los Angeles, Waymo is expanding to Marina del Rey, Mar Vista, Playa Vista, and Hollywood’s Chinatown and Westwood. https://twitter.com/Waymo/status/1820869539145437417 “Our team is laser-focused on refining Waymo One to be as seamless and useful as possible for our riders,” said Saswat Panigrahi, Chief Product Officer at Waymo. “This means…

Lotus is contemplating delaying the launch of its Type 135 electric sports car, originally slated to succeed the Elise and Emira, due to current battery technology’s impact on vehicle weight. The car, which was initially planned for a 2027 release, must maintain the spirit of the Elise, but today’s battery advancements may not yet suffice, the brand revealed. In a recent interview, Lotus Group design chief Ben Payne emphasized the challenge of replicating the Elise’s characteristics with current electric vehicle (EV) technology. “The technology right now does not really allow you to recreate that product in a convincing way,” Payne…