Author: Derick Munoz

The U.S. Energy Department announced on Thursday that it has granted preliminary approval for nearly $710 million in loans to electric vehicle (EV) technology manufacturing ventures, with $221.8 billion still available for clean-energy projects under the Biden administration. South Korean company SK Siltron CSS is poised to receive $544 million to expand a plant in Bay City, Michigan, that produces high-power silicon carbide wafers crucial for EV drivetrains, including inverters and electrical distribution systems, the department stated. The expansion is expected to create approximately 200 jobs each in the construction and production sectors, according to the department. See also: Canada Grants…

Indonesia has introduced fresh incentives to promote the sales of both domestically produced and imported electric vehicles (EVs), signaling its commitment to fostering a greener automotive sector and attracting investment to its burgeoning EV industry. The latest incentives build upon a tax incentive plan for imported EVs announced in December, which rewards manufacturers matching import numbers with domestically made EVs in the coming years. See also: VinFast Announces Dealership Partnerships for Indonesian Market Entry Outlined in new rules released late on Tuesday, Indonesia will eliminate luxury tax on EVs for the 2024 fiscal year and waive import tax until the end…

Stellantis, the owner of Fiat, has announced its commitment to continue manufacturing the fully electric (BEV) Fiat 500 small car, as well as future versions of the vehicle, in Turin. This decision comes amidst political and media speculation regarding potential plant closures in Italy, particularly at the Mirafiori complex in Turin and Pomigliano near Naples. See also: Stellantis Considers Producing Leapmotor EVs at Fiat’s Historic Mirafiori Plant in Turin CEO Carlos Tavares emphasized the importance of all Italian facilities for Stellantis to achieve its long-term output goals in the country. In a statement released after meetings with local authorities and unions…

Technotrans, a provider of cooling solutions, has announced a significant follow-up order from ADS-TEC Energy in the high single-digit million euro range. This marks the second major order from ADS-TEC Energy for Technotrans cooling solutions for the ChargePost battery storage fast-charging station. The ChargePost is a cutting-edge charging station designed to deliver up to 300 kW of charging capacity. It features a rectangular charging system measuring 1.3 x 1.5 x 2.4 meters, equipped with two HPC connections, a battery capacity ranging from 144 to 201 kWh, and up to two 75-inch advertising displays spanning the height of the outer surface.…

Cupra has introduced the Born VZ, a high-performance variant of its electric hatchback featuring enhanced performance, a sportier chassis setup, and upgraded technology in the cabin. The Born VZ is equipped with a more powerful rear-mounted electric motor, generating 322 horsepower (240 kW / 326 PS) and 545 Nm (402 lb-ft) of torque. This represents a significant increase compared to the Born e-Boost, with a boost of 94 hp (70 kW / 95 PS) and 235 Nm (173 lb-ft) of torque. According to Cupra, the Born VZ can accelerate from 0 to 100 km/h (62 mph) in 5.7 seconds, with…

CATL, a Chinese battery supplier, has reportedly restructured the shareholdings of two top executives to avoid being designated as a “Foreign Entity of Concern” (FEOC) under the Inflation Reduction Act (IRA) in the United States. The company provided an official reason for the change in shareholdings, stating that it was aimed at adapting to changes in its internal and external environments, enhancing decision-making power, and promoting sustainability. See also: CATL Leads Global EV Battery Market with 36.8% in 2023, BYD Follows with 15.8%: SNE Research Analysts at CruGroup suggested that CATL’s restructuring might be more focused on qualifying for tax incentives…

Luxury automaker Hispano Suiza is gearing up to mark its 120th anniversary with the introduction of a new electric hypercar, the Sagrera. Set to debut in June 2024, the Sagrera represents an evolution of the Carmen model, boasting a revised aerodynamic package and a larger battery pack. Teased last year, the Hispano Suiza Carmen Sagrera was showcased in a brief video emphasizing its prominent rear wing, crafted from carbon fiber with gold accents on the profiles, linking to the center bulge of the tail. The overall sculpted design, including the signature round LED taillights, closely resembles the existing Carmen and…

Amid pressure from the automotive industry, the US Environmental Protection Agency (EPA) is set to relax emissions targets for new cars. This move comes in response to major US manufacturers’ calls to slow down the electrification process, citing the technology’s high costs. Reported by Reuters, the revised EPA regulation reduces proposed yearly emission targets until the end of the decade. Although specific figures have not been disclosed, it is understood that car manufacturers will now need to achieve less than the previously suggested 60 per cent of their sales with electric vehicles (EVs) by 2030. The final version of the…

As the automotive industry navigates the challenges of transitioning to electrification, Mercedes-Benz is making strategic adjustments in response to changing market dynamics. With rising interest rates deterring U.S. buyers from high-end models, the luxury automaker has announced plans to pivot towards entry-level vehicles, incorporating a greater mix of combustion-powered cars in its lineup. During the pandemic, many automakers adopted a margin-focused strategy, capitalizing on short supply, surging demand, and low interest rates to produce high-end luxury cars. However, with supply levels normalizing and interest rates climbing, this strategy is no longer as effective. See also: Mercedes-Benz Shifts Towards Egg-Shaped Designs for…

France’s initiative to encourage electric vehicle (EV) adoption through a subsidy program faces a temporary halt due to unexpectedly high demand. Just four months after its launch, the government has announced a pause on the program, initially aimed at incentivizing low-income drivers to transition to electric vehicles. In October 2023, Prime Minister Emmanuel Macron introduced the “social leasing” program, offering monthly payments of €100 ($109) to eligible low-income drivers. With subsidized down payments, automakers managed to provide lease options for EVs priced as low as €40 (~$43) per month, including free charging. See also: Electric Vehicle Surge: France Witnesses a 47%…

Ford has commenced deliveries of its F-150 Lightning electric pickup truck in Europe, with the initial batch of vehicles making their way to customers in Norway. The announcement was made by Ford CEO Jim Farley in a social media post, where he expressed excitement about the milestone and congratulated the first recipients of the F-150 Lightning. https://twitter.com/jimfarley98/status/1756353602036130236 While the official statement highlights the deliveries in Norway, reports indicate that owners in Switzerland have also received their vehicles in recent weeks, as shared in various Facebook groups. Regardless, the F-150 Lightning, hailing from U.S. production lines, is now making its presence…

Volkswagen has officially stated that it will not be introducing a pickup truck under its brand in the United States, redirecting attention to the launch of a new electric pickup from its off-road Scout brand. Speaking to MotorTrend at the Chicago Auto Show, Pablo Di Si, CEO of Volkswagen Group America, confirmed, “It is not in the plans anymore,” referring to the Volkswagen-branded pickup truck for the US market. Despite previous plans, Volkswagen’s collaboration with Ford in 2020 to develop a medium-sized pickup will not see a US launch. The Volkswagen Amarok, built on Ford’s latest Ranger model, remains available…

As the highly anticipated Beijing Auto Show approaches, Xiaomi’s SU7 electric vehicle is generating considerable buzz as one of the event’s standout attractions. Despite its official unveiling last December, details about the SU7’s interior have remained undisclosed—until now. Official images showcasing the SU7’s interior have been unveiled, revealing notable features, including the presence of physical buttons—a departure from the trend of minimalist interiors seen in many electric vehicles. Xiaomi’s decision to incorporate tactile switches follows feedback from EV owners, addressing common complaints regarding buttonless or haptic-feedback interfaces. See also: Xiaomi CEO Announces Shift in Focus to Electric Vehicles The interior boasts…

A Toyota bZ4X electric vehicle inadvertently rolled off a pier and plunged into the ocean just north of Boston after the driver allegedly forgot to engage the parking brake on Wednesday. According to local sources, the incident unfolded around 2 PM when a white Toyota bZ4X started moving with two occupants on board as they were attempting to enjoy their lunch. Subsequently, the driver exited the vehicle to dispose of trash but failed to put it in park, resulting in its unintended movement. See also: Toyota Adjusts Pricing for 2024 bZ4X Electric SUV, Offers Competitive Financing Rates One of the…

A breakthrough has emerged in the final vote on new CO2 standards for lorries and buses in the European Union, with Germany consenting to the provisional agreement in exchange for a commitment from the Commission to revisit the regulation with a focus on e-fuels. According to the press agency dpa, the agreed-upon measures include a reduction of CO2 fleet emissions from trucks over 7.5 tonnes and coaches by 45% from 2030, 65% from 2035, and 90% from 2040. These targets align with the Commission’s initial proposals. Additionally, city buses are slated for a 100% reduction in CO2 fleet emissions by…

In 2023, global plug-in electric car sales soared to over 13.6 million units, constituting approximately 16% of total global car sales. A comprehensive analysis of the market’s landscape reveals key insights into the dominance of leading manufacturers in this rapidly evolving sector. According to data from EV-Volumes, five prominent Original Equipment Manufacturers (OEMs) continue to exert significant influence, collectively accounting for more than half of all plug-in car sales worldwide. These OEMs include BYD Group, Tesla, Volkswagen Group, Geely-Volvo, and SAIC. The top five OEMs collectively registered over 7.5 million rechargeable car units in 2023, marking a notable 41% year-over-year…

BorgWarner Inc. has unveiled a strategic relationship agreement with FinDreams Battery, a subsidiary of BYD Company Limited, marking a pivotal milestone in the advancement of electric vehicle (EV) technology. According to the agreement, BorgWarner will become the sole non-OEM localized manufacturer, independent of FinDreams Battery, with exclusive rights to localize LFP (lithium iron phosphate) battery packs for commercial vehicles. These battery packs, utilizing FinDreams Battery’s blade cells, are set to be deployed across Europe, the Americas, and select regions of Asia Pacific for a duration of 8 years. In addition to securing access to FinDreams Battery’s cutting-edge blade cells for…

Despite a slower-than-expected adoption of electric vehicles (EVs) across the automotive industry, Volkswagen Group of America remains committed to its ambitious plan of launching 25 EVs in North America by 2030, according to President and CEO Pablo Di Si. In an interview with Reuters at the Chicago Auto Show, Di Si emphasized the continued growth of the EV segment, citing data from January which showed that 8.5% of vehicles sold in North America were electric. While this marks a slight increase from the previous year, Di Si acknowledged a deceleration in the rate of adoption and stressed the importance of…

Content creator Dave Sparks, known as HeavyDSparks on YouTube and Instagram, has unveiled an extraordinary modification to a Tesla Cybertruck, outfitting it with snowmobile tracks. The innovative customization marks one of the most unconventional mods to date for the electric pickup truck. In a statement shared on his Instagram account, Sparks expressed his enthusiasm for the project, stating, “When the vehicle is the exact same shape as the tracks. This is one of the most ridiculously amazing things that we have ever built. I am more excited to drive this than anything I have driven in a very long time.”…

Li Auto, a player in China’s electric vehicle (EV) market, has garnered attention for its generous rewards program aimed at recognizing the achievements of its workforce in surpassing the company’s 2023 sales objectives. Amidst fierce competition within the EV landscape, Li Auto’s decision to offer bonuses significantly larger than the industry average highlights its commitment to acknowledging and incentivizing the efforts of its nearly 20,000 employees. See also: Li Auto Sets Records with 50,353 Deliveries in December, Achieving 376,030 for Full-Year 2023 The Beijing-headquartered automaker revealed plans to allocate bonuses equivalent to four to eight months’ salary, a notable departure…