Author: Christopher Harrison

Luxury electric vehicle (EV) manufacturer Lucid Motors has revealed its first-quarter earnings, demonstrating notable improvement compared to the same period last year despite still grappling with significant net losses. In its financial report, Lucid disclosed a net loss of $684.7 million, marking a reduction from the $779.5 million loss reported in Q1 of the previous year. The company’s revenue saw a positive uptick, reaching $173 million, up from $149 million in Q1 2023. Additionally, Lucid ended the quarter with $2.2 billion in cash equivalents, a significant increase from the $1.4 billion reported in Q4. The EV maker recently shared its…

Electric vehicle maker Fisker is in the spotlight once again for its financial struggles, with a recent lawsuit shedding new light on the depth of its challenges. The lawsuit, filed by German engineering firm Bertrandt AG, highlights Fisker’s financial woes dating back to last summer and raises questions about the company’s ability to continue operations. Bertrandt AG’s lawsuit, related to its work on Fisker’s upcoming Pear and Alaska models, claims that the firm stopped receiving payments from Fisker in August 2023. The German company was hired to work on the Pear, an affordable electric crossover, in a contract valued at…

BMW Group is gearing up to start manufacturing its next-generation electric vehicles (EVs) in North America, about two years after launching production in Europe. The company has initiated preparations for battery assembly, a crucial component of these new ‘Neue Klasse’ EVs, well ahead of their start of production (SOP). With production sites in San Luis Potosí, Mexico, and Woodruff, USA, BMW Group plans to start producing Neue Klasse EVs in Mexico in 2027. Construction has begun on a high-voltage battery assembly plant spanning over 80,000 square meters, which will be responsible for manufacturing BMW Group’s future sixth-generation batteries. The next-gen…

Citroen’s innovative electric vehicle, the Ami, is marking its fourth year on the market with a stunning transformation. The car is debuting a striking new “Night Sepia” livery, a deep brown hue that adds a sense of strength and character to its unique design. Since its launch in April 2020, the Citroen Ami has taken the urban and peri-urban mobility scene by storm, with nearly 50,000 units sold across 14 markets. This compact vehicle has redefined micro-mobility and energy transition, offering an affordable, safe, and comfortable driving experience for two passengers, usable in some countries from the age of 14…

Gillig, a North American bus manufacturer, has announced its entry into the hydrogen fuel cell bus market, marking a significant expansion of its zero-emission portfolio. Developed in collaboration with BAE Systems and Ballard Power Systems, the new model is scheduled to begin production in 2026. While Gillig has primarily focused on battery electric and hybrid buses in the past, the addition of hydrogen fuel cell technology represents a strategic shift. The company recently signed a framework agreement to supply up to 395 battery-electric buses to Seattle and has utilized Akasol battery systems from BorgWarner for its electric buses. Details regarding…

Tesla has unveiled a new variant of the Model Y – the Long Range Rear-wheel drive – while discontinuing the previous Rear-wheel drive (RWD) model, which had been the most affordable Model Y in the U.S. In recent weeks, Tesla’s prices have been fluctuating, with the Model Y receiving a $2,000 discount just two weeks ago. This discount brought the price down to its lowest ever, particularly when factoring in tax credits. However, Tesla has now replaced the standard range RWD Model Y with the new Long Range RWD model, priced $2,000 higher. The new Long Range RWD Model Y,…

U.S. Treasury Department has granted additional flexibility regarding battery mineral requirements for electric vehicle (EV) tax credits. Automakers now have until 2027 to address the sourcing of certain hard-to-trace minerals, such as graphite, found in anode materials, as well as critical minerals in electrolyte salts, binders, and additives. The Treasury’s decision comes in response to new rules implemented on January 1, which aimed to limit Chinese content in batteries eligible for EV tax credits of up to $7,500. These rules significantly reduced the number of eligible vehicles, prompting automakers to adjust their supply chains and leading to the restoration of…

Tesla has decided to cancel its Summer internships, adding to its recent wave of employee layoffs. The company’s broad restructuring efforts have affected employees across all levels, from executives to lower-level associates and service technicians, resulting in a reduction of approximately 14,000 workers. The decision to cancel Summer internships has left college students who secured internships with Tesla in a difficult position. Several students who had received internship offers for the upcoming Summer reported that their offers were suddenly revoked. One student from Miami University described receiving an email with flight information for the internship at 8:46 am, only to…

Chevrolet is rolling out an enticing offer for owners and lessees of electric vehicles (EVs), including Tesla, Lucid, Rivian, and Fisker, with a $4,000 discount on the 2024 Blazer EV. The deal, known as a conquest bonus cash offer, is available for both lease and purchase and can be transferred to household members. Unlike many trade-in offers, Chevrolet’s discount does not require a trade-in, making it more accessible to a broader range of customers. This discount can be stacked with other deals, including the $7,500 federal tax credit and the $1,000 Costco member-only incentive, potentially leading to substantial savings for…

Electrify America (EA) has made significant strides in expanding its electric vehicle (EV) charging infrastructure, with plans to further bolster its network in 2024. After increasing its total number of chargers to over 4,000 in 2023, the company aims to reach 5,000 DC fast chargers by the end of this year. The company’s growth has been impressive, with customer charging sessions more than doubling from 5.3 million in 2022 to 10.9 million in 2023, marking a 106% increase year-over-year. Electrify America’s EV charging network now spans over 900 stations across 47 US states, the District of Columbia, and six Canadian…

Azerbaijan is set to embark on a bold initiative to replace 3,000 combustion engine buses with electric models, signaling a significant shift towards sustainable transport. While several suppliers are vying for the opportunity, Chinese company BYD has emerged as a frontrunner, announcing plans for a new production line in the country. The decision was announced by Fariz Aliyev, head of the transport policy department at the Ministry of Digital Development and Transport of Azerbaijan, in an interview with the Azerbaijani news portal abc.az. Aliyev highlighted the long-term vision to replace all buses in Baku and the Absheron peninsula with electric…

Peugeot is said to be in the works of developing an electric mid-size saloon to succeed the Peugeot 508, aiming to compete directly with the Tesla Model 3. According to a report from French media, the new electric vehicle (EV) will draw design inspiration from the Inception design study unveiled at the beginning of 2023. The EV, likely to be named the Peugeot e-508, is reportedly scheduled to launch in 2028. Unlike the Inception design study, the electric saloon will not utilize the large Stellantis STLA Large platform, but instead, it will be based on the STLA Medium platform, already…