Author: Casper Benedict

BYD has delayed its plans to produce lithium cathodes for electric vehicle (EV) batteries in Chile by 2025, Stella Li, the firm’s Chief of Americas, told Reuters on Tuesday. Chile’s economic development agency, CORFO, announced last year that production at a new plant to be developed by BYD was anticipated to start around the end of 2025. This project represents a $290 million investment in Chile, the world’s second-largest lithium-producing country. Li expressed uncertainty about when BYD would resume its plans, citing various complications surrounding the project. The plant would manufacture components essential for EV batteries. “That plan has been…

VinFast, the Vietnamese automaker, has made a remarkable entry into the electric vehicle market with its latest offering, the VF 3. The compact electric SUV, starting under $10,000 (235 million VND), has already garnered significant attention, amassing nearly 30,000 pre-orders within just 66 hours of its launch. Unveiled at CES 2024 in January, the VF 3 is set to be released globally, including in the US, with a special promotional price before standard pricing at around $20,000. VinFast’s deputy CEO of sales and marketing, Ms. Tran Mai Hoa, emphasized the company’s vision for the VF 3, stating, “We aim to…

Volklec, a new UK manufacturing business focused on producing batteries for electric vehicles (EVs), has been launched in Coventry, West Midlands, with a commitment to manufacturing sustainable batteries for a range of vehicles, including on-road, off-highway, and track vehicles. In a strategic collaboration with the UK Battery Industrialisation Centre (UKBIC), a national manufacturing development and scale-up facility, Volklec aims to develop batteries that meet the specific requirements of the UK automotive market, particularly targeting small volume and niche vehicle manufacturers. This partnership is seen as a crucial step in the journey towards large-scale battery production, supporting the UK’s ambition to…

Mullen, a notable commercial EV manufacturer, has successfully secured a substantial $150 million capital infusion. This investment will support the company’s plans to expand its sales efforts both domestically and internationally. Additionally, it will facilitate the production of Bollinger’s electric trucks, including the Bollinger Motors B4, which is set to enter series production. The financing comprises a $100 million commitment from an undisclosed family office, along with the sale of an additional $50 million of senior secured convertible notes to family offices and high net worth investors. With this infusion, Mullen expects to meet its capital requirements for the next…

The Chair of Production Engineering of E-Mobility Components (PEM) at RWTH Aachen University and its spin-off company PEM Motion are set to collaborate with Chinese plant manufacturer HYNN and Bielefeld-based mechanical engineering specialist BST to advance e-mobility technologies. HYNN, specializing in post-processing in electric vehicle battery cell production, will establish a site at PEM’s Aachen headquarters Avantis on the German-Dutch border. This collaboration aims to drive product development and prototype testing for various forming systems and comparable machines in battery cell production. Professor Achim Kampker, Head of PEM, highlighted the significance of this collaboration, stating, “As one of the most…

The Tesla Cybertruck, despite being on the market for only about six months, has quickly established a strong presence in the electric pickup truck segment, surpassing one of its main competitors, the Rivian R1T, in registrations for the month of March. Data from S&P Global Mobility indicates that Tesla’s first all-electric pickup truck achieved 1,158 registrations in March in the United States, outpacing the Rivian R1T, which recorded 548 registrations during the same period. This marks the fourth month of availability for the Cybertruck, and Tesla’s production is steadily increasing, with the company producing 1,000 units in a single week…

Commercial electric vehicle (EV) technology developer REE Automotive has secured a significant addition to its order book with the support of global transportation provider Penske. Penske has committed to demonstrating REE’s PC-7 electric truck to its customers and assisting in sales efforts. REE Automotive, known for its modular EV platform, has been experiencing a successful year in 2024, with increasing orders and production scaling. The company’s flagship model, the PC-7 chassis cab, started deliveries in January following certification from the Federal Motor Vehicle Safety Standards (FMVSS), making it the first “x-by-wire” vehicle to achieve this milestone. In March, REE concluded…

Baidu, a leading Chinese technology company, is contemplating leveraging Tesla’s Robotaxi technology or Full Self-Driving (FSD) system in China. Xu Baoqiang, General Manager of Baidu’s autonomous driving department, expressed the company’s interest in potential collaboration opportunities with Tesla, including the use of specific Tesla applications tailored for the Chinese market. This consideration comes on the heels of a recent announcement by the local Chinese government supporting Tesla’s FSD technology. Elon Musk, Tesla’s CEO, reportedly proposed testing FSD functions in vehicles already in use in China, such as taxis, and rolling out the FSD software in Chinese taxi services. Baidu and…

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…