Author: Christopher Harrison

In the midst of an extraordinary surge in 2022 that witnessed some pre-owned electric vehicles (EVs) fetching higher prices than their brand-new counterparts, the value of used cars finally began to decline over the past six months. Notably, Tesla, a major player in the EV market, has been at the forefront of this downward trend, with its Model 3 experiencing a substantial 30% drop in value over the course of the last year. Recent data from iSeeCars reveals that while the overall used car prices have only dipped by less than four percent year-over-year for the third consecutive month, the…

A group of shareholders is set to have their day in court as they seek to prove allegations of fraud against Rivian during its initial public offering (IPO). A California judge has deemed it plausible that the automaker’s executives were aware of the necessity for a price increase prior to listing its shares. The legal action originates from early 2022 when Charles Larry Crews accused Rivian of concealing the underpricing of its R1T pickup and R1S SUV in the buildup to the 2021 IPO. Despite the IPO breaking records with an initial price of $78.00 and a rapid ascent, the…

Japanese semiconductor company Renesas Electronics and US-based silicon carbide specialist Wolfspeed have recently inked a significant supply contract for silicon carbide wafers. The deal, which involves a substantial down payment of two billion dollars, solidifies Renesas’ access to a stable and long-term supply of high-quality silicon carbide wafers from Wolfspeed. Commencing in 2025 and spanning a decade, the supply agreement ensures Renesas’ continuous provision of silicon carbide wafers, with specific details regarding purchase volume and total value kept confidential. However, Renesas has revealed that the agreement encompasses the procurement of 150-mm and 200-mm SiC wafers, a move aimed at supporting…

Audi is looking for external help to shorten the development time of its models in China, where the Volkswagen subsidiary is in talks with competitors, according to a report yesterday in the German media outlet Automobilwoche. Audi is now considering buying a platform from a competitor for the first time in China, the report said, adding that the company will prepare a corresponding template should be prepared for an extraordinary meeting of the supervisory board this week, possibly on July 11. Volkswagen CEO Oliver Blume has already approved the project, and Audi is in talks with manufacturers, the report said,…

The cost of repairing new cars has been steadily climbing as a result of increased complexity, the introduction of new components, and a shift towards non-repairable energy-dissipating elements. Consequently, if you find yourself in a fender bender with a new car, you can expect to pay more than ever before to restore it to its original condition. Recent data reveals that the average repair costs have risen by 36 percent since 2018, leading to a noticeable impact on insurance premiums. Insurance rates have surged by 17 percent in the past 12 months through May, according to Mitchell, a company that…

In an exciting development, Tesla has made a significant price reduction on the seven-seat option for its popular Model Y all-electric crossover. The company’s official website now reflects a reduced price of $2,500 for this option, marking a $500 decrease. However, potential buyers can enjoy even greater savings and an additional perk by utilizing a referral link, as highlighted by automotive enthusiast Sawyer Merritt in a recent tweet. The revised referral program, currently active in the United States, introduces compelling benefits for new buyers of the Model 3 or Model Y. Those who utilize a referral code or referral link…

Since their debut in North America back in 2018, Rivian’s highly anticipated all-electric pickup truck, the R1T, and its SUV counterpart, the R1S, have left European customers eagerly awaiting their arrival on the Old Continent. Some American R1T owners who relocated to Europe went to great lengths to ship their electric trucks overseas, but this option is not accessible to everyone due to the initial purchase requirement in the United States. However, during a recent interview with Bloomberg TV, RJ Scaringe, the founder and CEO of Rivian, revealed that the company has now established an operational base in Europe, complete…

Volkswagen, once a dominant force in China’s auto industry, has experienced a decline in market share as electric vehicle (EV) manufacturers like BYD, NIO, and Tesla steal the limelight. In a bid to attract buyers and regain its position, VW has decided to significantly reduce the price of its compact electric car, the ID.3. For a limited period, VW will offer the ID.3 at an unprecedentedly low price, starting from as little as 125,900 yuan (approximately $17,500). Introduced in July 2020, the ID.3 was Volkswagen’s first model from its all-electric “ID” lineup, which now includes the ID.4, ID.5, ID.6 (exclusive…

Panasonic, a leading technology company, has announced its ambitious goal of building four additional electric vehicle (EV) battery factories across the globe by 2031. This move is part of the company’s strategy to expand its battery production and procurement capacity in response to growing demand for electric vehicles. In the fiscal year ending March 2031, Panasonic aims to enhance its global battery production and procurement capacity to an impressive 200 gigawatt-hours. This represents a substantial increase from the 50 GWh produced in the previous fiscal year. Notably, the company also plans to enhance the energy density of its lithium-ion batteries,…

The state of Michigan is spearheading the development of a groundbreaking Mobility Charging Hub, an innovative program designed to address the growing demand for charging stations for commercial electric vehicles. Collaborating with Daimler Trucks North America (DTNA) and DTE Energy, Michigan aims to revolutionize the charging infrastructure. Situated at Daimler Truck North America’s expansive 130-acre Redford facility near the Canadian border, the Mobility Charging Hub will serve as a “real-world prototype” location. The facility already boasts ample power capacity to accommodate charging solutions. Michigan, renowned as the global automotive capital, witnesses over 10,000 medium and heavy-duty commercial trucks crossing state…

Chinese automaker BYD is set to establish three production facilities on a former Ford industrial site located in Brazil’s Camaçari industrial park. The ambitious project will involve the construction of a plant for electric and hybrid cars, another for electric bus and truck chassis, and a third facility dedicated to processing lithium and iron phosphate for global distribution. To transform the site into a state-of-the-art manufacturing hub, BYD is prepared to allocate up to three billion Brazilian reals, equivalent to around 570 million euros. This announcement follows signals from the Brazilian government indicating its intention to provide subsidies to BYD…

Stellantis, the world’s fourth largest carmaker by sales, unveiled its latest vehicle platform, ‘STLA Medium,’ signaling a shift towards electric-centric models. This platform is the first of four upcoming bases that will underpin all future vehicles produced by the company. Following the merger of Fiat Chrysler and Peugeot maker PSA at the start of 2021, Stellantis sold approximately 6 million vehicles last year. With a vision for the future, the company plans to transition all its forthcoming products onto four new Battery Electric Vehicle (BEV) platforms, namely STLA Small, Medium, Large, and Frame. The rollout commences this year with STLA…

In a surprising turn of events, Nikola, the alternative-fuel truck manufacturer, has revealed its plans to liquidate the assets of battery manufacturer Romeo Power. This decision comes just 11 months after Nikola acquired Romeo Power for $144 million in stock, aiming to bolster its own battery pack production capabilities. Back when the deal was struck, Romeo Power was one of Nikola’s trusted battery suppliers, alongside LG Energy Solution and Proterra. The acquisition was expected to pave the way for Nikola to manufacture its own battery packs by 2024. However, in an unexpected twist, Nikola has chosen to discontinue its operations…

E-commerce giant Amazon has announced the deployment of its Rivian-manufactured Electric Delivery Vehicles (EDVs) in Europe, starting with its German subsidiary. The first batch of over 300 Amazon EDVs will be operational in Berlin, Düsseldorf, and Munich in the coming weeks. These new electric vans will supplement the existing fleet of 1,000 electric vehicles from various brands already in use by the company in Germany. Neil Emery, Director Global Fleet & Product at Amazon, highlighted the collaborative effort between Amazon and Rivian in developing a cutting-edge electric vehicle tailored specifically for delivery purposes. Emery stated that the vehicle prioritizes driver…

BYD, a leading Chinese manufacturer of new energy vehicles (NEVs), continues to make impressive strides in the industry as it reports another record-breaking sales performance. Data released today reveals that BYD sold a total of 253,046 NEVs in June, marking an 88.79% increase from the 134,036 units sold during the same period last year and a 5.34% growth compared to the previous month’s figure of 240,220 units. This remarkable achievement is a testament to BYD’s strategic decision to discontinue the production and sale of internal combustion engine vehicles in March of last year. The company swiftly redirected its focus towards…

Electric motorcycles have gained significant popularity in recent years, not only as practical scooters and commuters but also in off-road applications. Electric dirt bikes, including enduros, trail bikes, and motocrossers, have become increasingly sought-after due to their ability to address one of the biggest issues in powersports: noise pollution. Thanks to rapid advancements in electric motor and battery technology, manufacturers have been able to achieve remarkable levels of performance from electric motors. A prime example of this progress is the Pohlbock eBock2, an electric off-road platform that showcases extraordinary capabilities. Developed from the ground up by German enthusiasts Romano Pohl…

In a significant move to promote sustainable transportation, the State of Michigan has unveiled plans to construct an innovative electric truck stop in partnership with Daimler and DTE Energy. With approximately 30% of all truck and rail freight between the United States and Canada passing through Michigan, the state aims to facilitate the widespread adoption of commercial electric vehicles (EVs) and enhance the overall truck stop experience. The project, known as the “Mobility Charging Hub,” will also offer support for charging electric passenger vehicles. The electric truck stop will be situated at Daimler Truck North America’s expansive Redford facility, located…

Alameda-based startup, Boundary Layer Technologies (BLT), has witnessed overwhelming demand for its revolutionary all-electric hydrofoil, Valo. Despite still being in the prototype phase, the company’s initial production run of the electric jet ski variant has sold out well into 2023. BLT, founded in 2018 in California’s Bay Area, boasts a team of engineers experienced in designing and developing cutting-edge technologies such as self-landing rockets, hyperloops, drones, and foiling racing yachts. Valo represents BLT’s flagship product and is an all-electric hydrofoiling watercraft. Unlike conventional jet skis like Taiga’s, Valo utilizes hydrofoils to lift the entire hull out of the water, resulting…

General Motors’ GM Defense division has introduced a new electric military vehicle, taking inspiration from the popular GMC Hummer EV. This marks a full circle for the vehicle, transitioning from its military origins as the Humvee to the civilian Hummer, and now returning as a military Humvee in an electric form. The decision to electrify the Hummer may seem unconventional, as it is not typically associated with electric vehicles. However, the Hummer EV was General Motors’ first venture into the next generation of electric vehicles, utilizing the company’s innovative Ultium electric platform. See also: GM Defense to develop battery technology…

In a recent development, Tesla has halted production of right-hand drive (RHD) versions of its popular Model S and Model X vehicles in the UK and various other countries. As a result, the electric vehicle manufacturer faced the challenge of accommodating British customers who still required access to the right-hand side of their cars. To address this issue, Tesla has come up with a distinctive yet intriguing solution dubbed “The Reacher,” a tool featuring the company’s branding. The decision to discontinue the production of RHD variants of the Model S and Model X was made in May of this year,…