Author: David Smith

Swedish electric vehicle (EV) manufacturer, Polestar, has shown signs of recovery in its second-quarter financial results, with its operating loss significantly reducing as the global auto industry gradually overcomes pandemic-induced supply chain challenges. The company, a joint venture between China’s Geely and Volvo Cars, revealed on Thursday a narrowed operating loss of $274.4 million for the second quarter, marking a notable improvement from the $627.3 million loss reported during the same period the previous year. Concurrently, Polestar’s revenue demonstrated positive growth, climbing to $685.2 million from $589.1 million in the year-ago quarter. Polestar successfully delivered a total of 15,765 vehicles…

In a groundbreaking move, Fisker has revealed further intricacies surrounding the Fisker PEAR, an innovative crossover that has captured attention with its affordable price tag of $29,900. Chairman and CEO of Fisker, Henrik Fisker, commented on the unconventional design approach, stating, “With PEAR, we threw convention out the window. We created this vehicle with the idea that young people living in the world’s big cities need innovative, versatile, and affordable mobility.” The unveiling of the PEAR took place on August 3 at Fisker’s inaugural Product Vision Day. The company has collaborated with Foxconn to produce the vehicle at a facility…

Mercedes-Benz has officially disclosed the pricing details for its inaugural fully electric van, the all-new eSprinter, catering to the North American market. Based on Mercedes-Benz Vans’ innovative Electric Versatility Platform, the eSprinter is now available for ordering at authorized dealerships across the United States, starting at a Manufacturer’s Suggested Retail Price (MSRP) of $74,181. This starting price includes a $2,295 destination and delivery charge. Notably, the new eSprinter sidesteps the Chicken Tax – a tariff imposed on light trucks – as it is slated for assembly at the company’s facility in Charleston, South Carolina. In contrast to the Ford E-Transit,…

In a recent move signaling strong faith in leadership and optimistic growth prospects, Rivian CEO RJ Scaringe has been awarded a substantial pay increase, accompanied by a generous stock award and bonus. The decision, endorsed by Rivian’s board, underscores their confidence in Scaringe’s stewardship and the upward trajectory of the company. According to official documentation filed on Tuesday, Scaringe’s annual base salary has been elevated to $1 million, marking a notable surge of over 50% from the previous figure of $650,000. Additionally, his target annual incentive bonus has been raised to 100% of his base salary, a substantial increase from…

The United States auto safety regulator, the National Highway Traffic Safety Administration (NHTSA), is delving into Tesla’s Autopilot driver assistance system, demanding answers regarding a recent software alteration that allows drivers to keep their hands off the steering wheel for an extended period, potentially heightening the risk of collisions. Documents made public on Tuesday unveil the regulatory body’s concerns and inquiries. In a special order dated July 26, the NHTSA summoned Tesla to provide clarification on the modifications to the Autopilot system and to furnish relevant documentation. This order, while not mandating a vehicle recall, does underscore the growing challenges…

In a strategic maneuver reflecting the shifting landscape of the automotive industry, Ford is bidding farewell to three of its gas-powered stalwarts – the Escape, Edge, and Transit Connect models. This decision marks the American automaker’s resolute step toward clearing the road for its new wave of electric vehicles (EVs), underpinned by an in-house developed EV platform. Ford’s Chief Executive Officer, Jim Farley, confirmed earlier this year that the company was diligently working on an internal EV architecture, known as Project T3 (Trust The Truck). This platform will serve as the foundation for a forthcoming full-size electric pickup and a…

BYD, China’s foremost electric vehicle (EV) producer, has reported a staggering 145% surge in profits during the second quarter, propelled by an impressive volume of deliveries. This remarkable growth comes at a time when an EV price war is sweeping through China, exerting pressure on profit margins across the sector. Having already overtaken Volkswagen to become China’s top-selling car brand earlier this year, BYD has successfully upheld its market leadership throughout the first half of the year. In the second quarter alone, BYD achieved a record-breaking feat by delivering an astounding 703,000 new energy vehicles (comprising both EVs and plug-in…

In a dynamic turn of events, VinFast, the emerging electric vehicle (EV) startup, continues to experience erratic shifts in its share prices after an initially turbulent market entry. On Monday, the company’s shares achieved unprecedented heights, propelling its overall valuation beyond that of renowned automakers such as GM, Ford, Volkswagen (VW), and Mercedes-Benz, according to statements from investors. VinFast made its NASDAQ debut on August 15, commencing trading at $22 per share. The stock’s trajectory was initially meteoric, soaring to an impressive $38.78 valuation, only to plummet to $13.94 later within the same week. However, as of Monday, August 28,…

In a determined effort to tackle escalating vehicle emissions in the city, the Jakarta government has announced its ambitious project to bolster the electric bus fleet to a remarkable 100 vehicles. Spearheaded by TransJakarta, the municipally-owned land transport company, this initiative forms a pivotal part of the city’s comprehensive strategy to curtail pollution levels. Commencing from September 1, a groundbreaking policy will be implemented, mandating emission tests for all vehicles operating within the city limits. Acting Governor Heru Budi Hartono, speaking on Sunday, emphasized the significance of this move, stating, “We will introduce an additional 22 electric buses in October,…

DAF Trucks is embracing the electric future with the introduction of the DAF XB Electric truck series, aimed at addressing the demands of urban and regional distribution. The renowned Dutch truck manufacturer is expanding its electric vehicle portfolio to include 12, 16, and 19-tonne variants, offering a range of options for sustainable transportation. Diversifying Electrified Transport The new DAF XB Electric series comes equipped with an electric motor delivering either 120 or 190 kW of rated power, depending on the chosen specification. Paired with LFP batteries, these trucks boast a gross energy content ranging from 141 to 282 kWh. While…

Electric vehicle manufacturer Rivian has embarked on a transformative journey, opting to produce its own Enduro motors for the dual-motor versions of its sought-after R1T and R1S models. By bringing motor production under its own roof, the company is steadfast in its pursuit to expedite production and dissolve the existing backlog fueled by overwhelming consumer interest. Amidst the humming of machinery, Rivian’s manufacturing facility in Normal, Illinois, has evolved into a round-the-clock operation, engaging in three shifts to address production shortfalls that have been impacting the R1T and R1S models. A captivating behind-the-scenes video peels back the curtain on these…

In a groundbreaking move to revolutionize electric vehicle (EV) charging, Tesla has secured official approval from the city of Los Angeles to introduce a one-of-a-kind establishment that combines a diner, a movie theater, and Superchargers. This visionary concept, initially proposed by CEO Elon Musk in 2018, is set to offer Tesla owners an unparalleled charging experience while combining entertainment and convenience. The Tesla Diner, located prominently at the intersection of 7001 W. Santa Monica Boulevard, embodies the essence of Musk’s earlier tweet: “Gonna put an old school drive-in, roller skates & rock restaurant at one of the new Tesla Supercharger…