Author: Derick Munoz

Japanese car manufacturers Nissan and Honda have officially confirmed plans for a strategic partnership focused on electric cars and other key areas. The manufacturers’ intention to collaborate had been previously leaked, generating widespread industry interest. Honda’s official announcement stated that both companies have signed a letter of intent “to strengthen environmental and electrification technologies as well as software development.” The agreement underscores the necessity for industry players to pool resources and explore avenues for future cooperation. Makoto Uchida, Nissan’s President and CEO, emphasized the need to anticipate the rapid changes in mobility, stating, “It is important to prepare for the…

In a significant development for the electric vehicle (EV) industry, Lithium Nevada has received approval for a $2.26 billion loan from the US Department of Energy. The loan will finance the construction of a lithium carbonate processing plant, making it North America’s largest source of lithium for EV batteries. The Thacker Pass mine and processing plant, located in Humboldt County, will play a crucial role in meeting the increasing demand for lithium-ion batteries in EVs. Once operational, the processing plant is expected to produce approximately 40,000 tonnes of lithium carbonate annually, enough for up to 800,000 EVs. The project aims…

BP is set to take over a truck stop in the south of England, located at the Ashford International Truckstop in Kent, with plans to develop a large fast-charging park for electric trucks. The site’s strategic location near Dover and the Eurotunnel makes it an ideal location for the development. According to BP, the site offers space for around 20 megawatt chargers, 10 x 400 kW chargers, and 125 x 100 kW chargers. The first MCS chargers are scheduled to be connected to the grid from 2026. This mix of charging stations aims to cover various scenarios for charging e-trucks,…

Fisker issued a statement today to address speculation about the company preparing for bankruptcy, following reports in the Wall Street Journal. The statement aims to clarify the situation amid widespread discussions on social media platforms. MarketWatch was the first media outlet to obtain the release, titled “Fisker breaks silence about potential bankruptcy. Here’s what it had to say.” Both Wall Street Journal and MarketWatch are owned by Dow Jones, a leading provider of business news and financial information. See also: Fisker Engages Bankruptcy Consultants, Reports Say Earlier today, Fisker held a company-wide meeting, which lasted only a few minutes. Henrik Fisker,…

Rivian’s recent unveiling of the R2 model has revealed a groundbreaking feature—a heat pump designed to enhance efficiency in cold weather conditions, particularly benefiting users in Northern parts of North America and Europe. During the unveiling event last week, significant details about the R2 were disclosed, providing a glimpse into the future of electric vehicles (EVs). However, even after the event, the vehicle still holds some surprises. In a recent Twitter discussion, a user queried Rivian CEO RJ Scaringe about the R2’s inclusion of a heat pump, to which RJ simply responded with a confirming “Yes.” See also: Rivian R2 Coming…

Tesla has begun the rollout of its latest Full Self-Driving Beta v12 software update, a highly anticipated release described by CEO Elon Musk as a “big release.” Despite the excitement, the update is not yet going wide, and there are no new release notes available. The Full Self-Driving (FSD) program has been plagued by delays, leading to a mix of anticipation and skepticism among Tesla enthusiasts. While some argue that Tesla is tackling a complex problem and should be given leeway, others point out that the company has been selling FSD since 2016, creating self-imposed pressure to deliver on its…

U.S.-based vehicle software supplier Applied Intuition announced on Tuesday that it has successfully raised $250 million in its latest Series E funding round, achieving a valuation of $6 billion. The financing was led by Bilal Zuberi, general partner at Lux Capital, angel investor Elad Gil, and Porsche Investments Management, the independent subsidiary of the renowned sports car manufacturer. Applied Intuition intends to utilize the funds to make strategic investments in generative artificial intelligence (AI), aiming to enhance Porsche’s expertise in software and customer experience, as stated by Lutz Meschke, Porsche AG’s chief financial officer. Among its prominent clients are Toyota…

German electric car manufacturer e.Go has filed for insolvency for the second time since 2020, citing the “unfavourable market environment.” The company has filed an application for the opening of insolvency proceedings with the Aachen district court in Germany and appointed Dr Claus-Peter Kruth from the AndresPartner law firm as provisional insolvency administrator. “Over the next few weeks, Dr Claus-Peter Kruth will gain an overview of the economic situation on site in Aachen and enter into discussions with all key stakeholders. On this basis, he will examine all the reorganisation options available to him,” e.Go states in its German press…

New York State Governor Kathy Hochul has announced that the state will subsidize charging infrastructure for electric school buses, with funding now available for both AC and DC chargers. The initiative is part of the state’s efforts to promote clean transportation and reduce emissions. The amount of funding available is based on the number of electric school buses a school district or bus operator has or plans to purchase. According to a press release from the governor’s office, the funding will award at least $25,000 per bus to cover hardware, customer-side electrical site upgrades, installation costs, and battery storage. Priority…

First Mode, a retrofitting specialist focusing on decarbonizing mining operations, has inaugurated a new plant in Seattle, Washington State. The 3,700-square-meter factory is geared towards producing hybrid kits that pave the way for fully battery and fuel-cell electric vehicles. The new facility, located in Seattle’s SoDo district, is among the city’s largest cleantech facilities. With an investment of 22 million dollars, First Mode expects to employ up to 30 staff locally. First Mode’s emphasis on hybrid drives does not preclude further electrification. The company’s hybrid-electric retrofit kits, with a capacity of 150 units per year, require no changes to infrastructure…

The Rivian R2 has received an overwhelmingly positive reception from the electric vehicle community, with over 68,000 reservations made for the all-electric crossover SUV less than 24 hours since its unveiling. This milestone is particularly impressive considering Rivian’s track record. For comparison, the R1T pickup truck and R1S SUV, unveiled in November 2018, had amassed over 114,000 pre-orders by November 2022, four years after their debut. See also: Everything You Should Know Rivian R2 Battery Cell In less than a day, the Rivian R2 has secured 59% of the pre-orders garnered by the R1T and R1S over a four-year period. This…

Panasonic, the prominent supplier of batteries to Tesla, is reportedly contemplating a substantial additional investment in its operations in Kansas, according to sources familiar with the matter. This potential expansion, internally dubbed as Phase 3, would entail the establishment of new battery production lines. The primary beneficiary of this increased output is expected to be Tesla, with its Giga Nevada facility being a joint venture with Panasonic. See also: Panasonic Energy Partners with H&T Recharge for Battery Can Production Lines Sources cited by Nikkei Asia indicated that the scale of this additional investment would be comparable to Panasonic’s ongoing construction of…