Author: David Smith

Rivian, the American electric vehicle manufacturer, is currently offering lease rates as low as $559 per month for its popular R1T electric pickup truck. This offer, which includes $7,500 in lease cash, presents a compelling deal for potential buyers, even surpassing lease rates for the Nissan Titan. The $559 per month lease rate is for a new 2024 Rivian R1T Standard Adventure Package, with a 36-month lease term and 30,000 total miles. The lease requires $7,454 due at signing, resulting in an effective monthly cost of $766. The total vehicle pricing, including features like Dual Motor AWD, 21″ Wheels, LA…

Aptera has announced the closing date for its Regulation A crowdfunding campaign, slated for June 30, as it steers toward securing private capital to propel its high-efficiency, three-wheel solar EV into high-volume production. The company’s crowdfunding initiative, designed to bypass traditional investors and the stock market in favor of smaller-scale investments, has garnered significant traction over the past three years. Aptera has raised over $100 million from more than 17,000 investors, culminating in an impressive show of support for its innovative approach to sustainable mobility. Notably, Aptera’s crowdfunding strategy offers an Accelerator Program, which grants investors contributing a minimum of…

Hyundai Motor Group, the South Korean automotive conglomerate encompassing Hyundai, Kia, and Genesis, is taking proactive steps to mitigate potential U.S. measures against vehicles with Chinese connections. The company is diversifying its parts supply chain beyond China and engaging in lobbying efforts in the United States. Lee Ho-geun, an automotive engineering professor at Daedeok University, emphasized the need for Hyundai and Kia to reduce their dependence on China and expand their supply chains to countries like Vietnam. He stated, “Hyundai Motor and Kia have to brace for the worst by reducing their reliance on China and broadening their supply chains…

Chinese electric vehicle manufacturer Xpeng denounced the newly imposed U.S. tariffs on Chinese EVs, labeling them as detrimental to global efforts toward carbon neutrality and the green energy transition. Xpeng co-President Brian Gu expressed his concerns, stating, “We hope the United States can become more open, allowing global products to enter and compete in the U.S. market.” Gu made these remarks in Hong Kong during an event where Xpeng, in collaboration with Malaysia’s Sime Darby Motors, announced the sale of its electric sports utility vehicle, the G6, and its flagship seven-seater, the X9. This move signifies Xpeng’s strategic expansion beyond…

Honda Motor has announced plans to double its investment in electrification and software to about $65 billion over the next decade, aiming to bolster its position in the rapidly evolving automotive market. This decision marks a significant increase from the company’s previous commitment made in April 2022. Honda’s CEO, Toshihiro Mibe, emphasized the importance of securing a stable battery supply and achieving cost reductions and performance enhancements before shifting focus to software-defined vehicles. He stated, “As for strengthening software development, we realized the amount we had settled on two years ago was simply not enough, so we significantly increased that…

Deutsche Bank has expressed optimism about the debut of Nio’s sub-brand, Onvo, suggesting that the launch of the Onvo L60 SUV could potentially push Nio’s monthly sales above the 20,000-unit mark. Analysts from Wang Bin’s team noted, “Onvo L60 SUV will officially start delivery in Sep. 2024, and the company is targeting Onvo L60 monthly delivery volume of ~10,000 units,” in a research note to investors. See also: Everything You Should Know About Onvo L60 Specifications Nio officially introduced its Onvo sub-brand, known as Ledao in China, and commenced pre-sales of its first model, the L60, priced at RMB 219,900 ($30,500).…

In a significant step towards a greener future, the Metropolitan Transportation Authority (MTA) of New York has unveiled 60 new electric buses manufactured by New Flyer. These state-of-the-art Xcelsior Charge NG buses, with a length of approximately 12 meters and a battery capacity of 525 kWh, will serve routes in Queens, Staten Island, and Brooklyn. Governor Kathy Hochul, who inaugurated the new buses, expressed her enthusiasm, stating, “These new electric buses will play a key role in ensuring New Yorkers can get to where they’re going safely and sustainably.” The buses, subsidized with nearly $70 million in funding from the…

Cylib, a battery recycling startup spun out of RWTH Aachen University, has successfully completed a Series A financing round, securing a total of 55 million euros. The funding will support the company’s expansion plans, including the establishment of a larger brownfield facility in Germany following an initial pilot line in Aachen. The Series A round was led by World Fund and Porsche Ventures, with participation from Bosch Ventures, DeepTech & Climate Fonds, NRW.Venture, and existing investors Vsquared Ventures, Speedinvest, 10x Founders, and other notable business angels. Cylib describes this funding round as the largest in European battery recycling to date,…

Mahle Aftermarket has unveiled its latest innovation, the ‘E-Health Charge’ battery diagnostics solution, designed to provide information on the state and performance of high-voltage batteries in electric cars. This new system boasts a measurement time of up to 15 minutes, making it the fastest static battery diagnosis solution currently available in the market. Philipp Grosse Kleimann, member of the Mahle Group Management Board and Head of the Aftermarket division, highlighted the evolving demands on workshops, stating, “The demands on workshops are becoming more diverse. Battery electric drives, hybrids, internal combustion engines and hydrogen drives will form the drive mix of…

Volkswagen’s all-electric ID.7 has achieved a notable milestone in the ADAC vehicle test, receiving a high rating of 1.5, the highest ever awarded by the organization, and the first ‘very good’ rating. The ID.7, Volkswagen’s flagship model in the all-electric ID. family, performed well across several categories, including engine/drive, safety, and environment, scoring 1.0, 1.1, and 1.2 respectively. Kai Grünitz, Member of the Board of Management at Volkswagen, expressed satisfaction with the result, stating, “We are pleased with this result.” The tested model, a Volkswagen ID.7 Pro with 210 kW (286 PS) output, demonstrated good energy efficiency, consuming just 18.1…

Kia has introduced the facelifted version of its EV6, featuring improvements in range, features, and design. The updated EV6, revealed on Tuesday, showcases an “evolved” design for the modern era and aims to solidify Kia’s position as a leader in the electric vehicle market. Originally released in March 2021 as Kia’s first dedicated electric car based on Hyundai’s E-GMP platform, the EV6 has undergone significant upgrades. With the unveiling of the EV3, EV4, and EV5 (Kia’s next-gen affordable EVs) last year, it became evident that the EV6 was in need of a refresh to align with Kia’s new design theme.…

Chinese automaker Aiways has announced its decision to pull out of the Chinese car market, citing intense pricing pressure and competition. The company, which already has a European headquarters in Germany, will now concentrate its sales efforts in Europe, according to a report by Autocar. Despite exiting the Chinese market, Aiways has no plans to relocate production from China to Europe. The U5 and U6 electric vehicles (EVs) will continue to be manufactured in Asia and imported to Europe, where competition is perceived to be less intense. The move is seen as a strategic decision linked to Aiways’ upcoming plan…