Author: Casper Benedict

Electric vehicle (EV) startup, Fisker, has recently secured a significant deal to sell emission credits to a major automaker. This move is seen as a strategic maneuver by Fisker to weather the stormy economic environment and combat the ongoing price war initiated by Tesla. The announcement, made on Tuesday, comes just a month after Fisker reduced its production target for 2023. Additionally, the company reported a first-quarter adjusted loss that surpassed expectations, further highlighting the challenges it faces. Although Fisker did not disclose the identity of the automaker it sold the credits to, it is worth noting that various EV…

Newly obtained official documents filed with the Environmental Protection Agency (EPA) shed light on the real-world testing results of the Rivian R1S Dual Motor with the ‘Large’ battery pack. These findings confirm that the automaker’s previous range predictions were largely accurate. Here’s a breakdown of the EPA’s discoveries. The disclosed figures, sourced from an EPA document shared on RivianForums, revolve around the EPA’s assessment of the R1S model. Each assessment involved the utilization of the dual-motor configuration in conjunction with a substantial 135 kWh battery pack. An R1S variant equipped with 20-inch wheels demonstrated an adjusted range of 305.79 miles…

Lexus has recently introduced its smallest model to date, the LBX, which has been specifically developed for the European market. Positioned as the new entry-level SUV in the Toyota brand’s lineup, the LBX is equipped with the latest generation full hybrid system, boasting an impressive output of 100 kW/36 hp. Scheduled to commence production by the end of 2023, the highly anticipated Lexus LBX is expected to hit the European and select global markets in early 2024. With a quick acceleration time of 9.2 seconds for 0-100 km/h, this compact SUV promises a thrilling driving experience. Although pricing details have…

Tesla has recently announced a voluntary recall of a limited number of Model Y SUVs. The recall is prompted by concerns that the steering wheels in these vehicles may not have been adequately fastened, potentially resulting in the steering wheel disconnecting while the vehicle is in operation. The decision to recall the affected vehicles follows an investigation launched by the National Highway Traffic Safety Administration (NHTSA) Office of Defects Investigation (ODI) after receiving reports of the steering wheels detaching from two newly delivered Model Ys. Tesla’s official notice, as published on the NHTSA website, states that only 137 Model Ys…

In a recent statement at the Sanford Bernstein conference, General Motors (GM) CEO Mary Barra acknowledged Tesla’s current lead in the electric vehicle (EV) market. While she expressed confidence in GM’s ability to catch up, Barra admitted that she doesn’t anticipate profitable electric cars in the $30,000 to $40,000 price range until the end of the decade or possibly even later (via Reuters). Barra pointed out that the high cost of EV batteries remains a significant hurdle in building mass-market vehicles that can generate profits. However, her prediction is that the cost of EVs and combustion engine vehicles will eventually…

Swiss charging cable manufacturer, Huber+Suhner, is making significant strides in the electric vehicle (EV) charging industry with its latest product, the Radox MCS1500 system. This cutting-edge charging cable is capable of sustaining continuous charging currents of up to 2,250 kW at 1,500 amps, specifically designed for heavy-duty electric vehicles. Huber+Suhner has already established its reputation as a provider of cooled cables for high-power charging (HPC). Now, with the introduction of the Radox MCS1500, the company aims to position itself early on in the megawatt charging sector. The system has successfully undergone various field tests and will be showcased at two…

General Motors (GM) remains unwavering in its support for the Cruise autonomous vehicle unit, as CEO Mary Barra reiterates her belief that the division has the potential to generate annual revenues of up to $50 billion by 2030. Speaking at a recent conference in Detroit, Michigan, Barra emphasized the significant growth prospects within Cruise, despite the closure of Argo AI, a self-driving car startup jointly owned by Ford and Volkswagen. Barra envisions GM leveraging Cruise not only to introduce personal self-driving cars to the market by the end of the decade but also to expand its operations globally. Markets such…

As of June 5, 2023, residents in certain California districts have the opportunity to purchase a standard-range Tesla Model 3 at less than half of its manufacturer’s suggested retail price (MSRP). The base rear-wheel-drive Model 3, which boasts an EPA-estimated range of 272 miles and accelerates from 0 to 60 miles per hour in 5.8 seconds, starts at $40,240. However, when factoring in the available tax credits from both California and the federal government, the price of the Tesla Model 3 can significantly decrease. By meeting certain qualifications, the price can plummet to as low as $19,830. This substantial reduction…

In a recent development, Tesla CEO Elon Musk has announced that the company is open to licensing its Autopilot, Full Self-Driving (FSD), and electric vehicle (EV) technology to other automakers. This comes following the collaboration between Tesla and Ford, which granted Ford access to Tesla’s Supercharger network. Back in 2014, Tesla made all its patents “open source,” allowing companies to utilize their technology without the fear of being sued. However, it remains unclear if other companies have actively adopted Tesla’s open-sourced patents and to what extent they have integrated the technology into their own products. While having access to patents…

According to estimates, Tesla is poised to receive substantial tax breaks, making it the primary beneficiary of the billions of dollars in federal tax credits provided by the Inflation Reduction Act. The law, passed in August 2022, aims to encourage car and battery manufacturing in North America. With multiple operational plants in the United States, including Fremont and Austin for vehicles, Nevada for batteries and electric motors, and the recently initiated lithium refinery in Corpus Christi, Texas, Tesla is projected to receive approximately $41 billion in tax credits over the next decade, in conjunction with battery partner Panasonic. This year…

Fiat has taken a significant step towards reigniting the British electric vehicle (EV) market by introducing its own electric car incentive program, known as the “Fiat E-Grant.” This initiative aims to compensate for the termination of the government scheme that incentivized the adoption of electric cars almost a year ago. With an enhanced incentive amount of £3,000, the Fiat E-Grant doubles the previous offering of £1,500 at the scheme’s closure in June last year. The grant is applicable to Fiat’s 500e and 500e Convertible vehicles, reflecting the company’s determination to revitalize EV sales in the United Kingdom. In recent times,…

Rivian, the electric vehicle (EV) startup that made headlines with its record-breaking initial public offering (IPO) in 2021, is now facing a significant setback. After reaching a peak of $129.95 per share, the company’s stock prices have plummeted by nearly 90 percent, dropping to a mere $14.62 on Thursday in New York. This alarming decline has raised concerns that Rivian may be pushed off the Nasdaq 100 Index later this month. Analyst Min Moon from JPMorgan revealed that Rivian’s stock accounted for less than 0.1 percent of the index in both April and May. Typically, the Nasdaq 100 removes its…