Author: Derick Munoz

Electric vehicle charging joint venture Ionna has announced a strategic partnership with Sheetz, a restaurant and convenience store chain, to establish 50 high-power charging parks at Sheetz locations by the end of 2026. The initiative, called “Rechargeries,” aims to support the growing demand for EV charging infrastructure as the market expands in the United States. The first Rechargeries are set to debut at three Sheetz locations—Springfield and Willoughby in Ohio and Scranton, Pennsylvania—by late December 2024. These facilities will feature multiple high-power charging bays under signature red canopies, offering protection from adverse weather. Sheetz, which operates over 750 stores in…

Honda Motor Co. will cease funding its joint venture with General Motors (GM) and Cruise to launch a robotaxi service in Japan. This decision follows GM’s announcement that it will stop funding Cruise, opting instead to absorb the company and focus on integrating its autonomous vehicle development efforts into GM’s personal vehicle initiatives. GM owns about 90% of Cruise, with Honda holding a small minority stake, along with other investors like T. Rowe Price and Microsoft. As part of its strategy to consolidate control, GM plans to buy back shares from minority stakeholders, increasing its ownership stake in Cruise to…

Volkswagen has announced it will not renew contracts for its 1,000 temporary employees at the Zwickau electric vehicle (EV) plant, with all contracts set to expire by the end of 2025. The decision, confirmed by Volkswagen and the Works Council following a works meeting, comes as the automaker faces weak demand for its EV models. The Zwickau plant, which had employed over 2,500 temporary workers in 2023, has seen a significant reduction in its workforce. Contracts for 1,000 temporary employees are still active, but no extensions will be granted, a Volkswagen spokesperson told local media, citing an unchanged and uncertain…

South Korea’s POSCO Holdings Inc. and Australian mining firm Hancock Prospecting have signed a memorandum of understanding to jointly establish a lithium production facility capable of delivering 30,000 tons annually, POSCO announced on Tuesday. The plant aims to bolster supply chains for lithium, a crucial material for electric vehicle (EV) batteries. The two companies will determine the location for the plant and finalize key investment details at a later stage, POSCO said in a statement. The agreement, signed online, represents an expansion of the firms’ long-standing collaboration beyond iron ore and natural gas ventures. “The decision to pursue this lithium…

Tesla has increased the price of its premium Model S offerings in the United States, marking the first notable price hike in months. Both the Model S Long Range and the Model S Plaid now cost $5,000 more, but the automaker has introduced a new incentive to sweeten the deal for buyers. The price of the Model S Long Range now starts at $79,990, while the Model S Plaid begins at $94,990. This adjustment aligns the Model S with the starting price of the Model X and certain trims of the Cybertruck, such as the AWD and Cyberbeast Trimotor non-Foundation…

Renault has officially revealed the production version of the highly anticipated R5 Turbo 3E, a modern interpretation of the classic R5 Turbo I and II from the ’80s and the Clio V6 from the ’00s. The R5 Turbo 3E, which rides on a bespoke platform, boasts a fully electric rear-wheel drive (RWD) powertrain generating over 500 horsepower. The R5 Turbo 3E takes retro-futuristic styling to the next level, combining the signature boxy fender flares of the original R5 Turbo with oversized wheels wrapped in ultra-wide tires. While the design retains much of the iconic look, it has been modernized with…

BMW M has begun testing its electrified M3, marking an important step in the transition to fully electric performance vehicles. The company recently shared images of the prototype, showcasing a Neue Klasse body with a distinctive upright greenhouse and the signature wide kidney grilles. Additionally, the prototype features the iconic tricolor around the wheel arches, signaling this could be the first official look at what an electric M3 might resemble. Earlier this week, BMW M also released a behind-the-scenes video of the automaker testing its first electrified M car, a version of the i4 in M-spec. The video highlighted the…

Texas has inaugurated its first electric vehicle (EV) charging station funded through the US National Electric Vehicle Infrastructure (NEVI) Formula Programme. Located in the city of Happy, the new site features four fast chargers, each with two connections, offering both CCS and NACS (J3400) charging options. The chargers can provide up to 180 kW per port, although currently, only one vehicle can use each station due to the limited parking space. The NEVI programme, which supports up to 80% of eligible project costs, is designed to expand EV charging infrastructure along designated Alternative Fuel Corridors. To qualify for funding, stations…

Europe’s aspirations to build a self-sufficient electric vehicle (EV) battery industry, aimed at reducing reliance on China, are facing significant setbacks, with several high-profile projects either stalling or collapsing. The most notable failure comes from Northvolt, the Swedish battery startup once hailed as a leader in Europe’s green energy revolution. Despite receiving substantial funding, including a record green loan from the EU and backing from Volkswagen and BMW, Northvolt recently filed for bankruptcy protection in the U.S. after its rescue package failed. This came after the company’s co-founder and CEO, a former Tesla executive, stepped down. The struggles of Northvolt…

Tesla (TSLA) is reportedly revisiting its plans to enter the Indian automotive market, a goal it has struggled to achieve in the past few years due to high import duties and regulatory hurdles. India remains the largest auto market where Tesla has not yet established a presence, according to Reuters. After multiple failed attempts to enter the market, Tesla is now in early-stage talks with real estate group DLF to secure a showroom location in New Delhi, sources with direct knowledge of the situation told Reuters. The talks, however, are still in their initial phases, and it remains unclear whether…

Cadillac has finalized specifications for the 2025 Escalade IQ, its first all-electric SUV, boasting a General Motors-estimated range of 460 miles (740 km). The Escalade IQ, starting at $130,000, represents a luxury leap for the brand, combining advanced EV technology with the iconic Escalade nameplate. Available in four trims, the Escalade IQ caters to both luxury and sport preferences. The base Luxury 1 model features polished 24-inch wheels, an illuminated grille, and LED headlights. Meanwhile, the Sport 1 trim, priced at $130,490, adds body-colored door handles and unique wheel designs. At the top of the lineup are the Luxury 2…

Rivian has claimed the top spot in Consumer Reports’ latest owner satisfaction survey for the second consecutive year, with 86% of its owners saying they would buy another vehicle from the automaker. This marks a significant achievement for the relatively new company, which continues to lead the industry in customer approval. The survey, which surveyed over 300,000 vehicles, saw Rivian outperforming other automakers in owner satisfaction. Tesla, while still highly regarded, ranked third, with a slight dip in satisfaction compared to last year. Tesla rose two positions in the rankings but lost two percentage points in the question about whether…