Author: Derick Munoz

The race to dominate the electric vehicle (EV) market in China is heating up as automakers slash prices to attract customers. Japanese carmaker Nissan has joined the fray by offering a limited-time discount of 60,000 yuan (approximately 8,200 euros) on its Ariya model in China. This is the company’s highest-priced EV in China, and the discount applies to all four versions of the vehicle. Nissan is not the only automaker to offer discounts in China. Tesla, Xpeng, and Toyota have also reduced prices on their EVs to boost sales. Tesla has lowered the prices of its Model 3 and Model…

JCB, the engine manufacturer based in the UK, has recently launched a 4.8 liters hydrogen ICE engine primarily intended for use in construction and agricultural machinery. However, the company has gone one step further by collaborating with Mercedes-Benz to retrofit a 7.5 ton truck with the innovative engine. JCB’s £100 million project has been spearheaded by the company’s Chairman, Lord Bamford, who himself was one of the first test drivers of the retrofitted truck. According to Bamford, “This is a giant leap forward for JCB and the rest of the world because we all have one goal: to reduce emissions.…

ZEVX, a prominent provider of intelligent EV power system solutions, has successfully raised over $20 million in the first phase of a funding round. The investment was led by Reynolds Capital, the investment arm of The Reynolds and Reynolds Company, which is the leading provider of automobile dealership software, services, and forms for enhancing business results and customer experience transformation. Several other investors also participated in the funding. ZEVX is recognized for its rapid innovation in battery electric power systems and data intelligence for e-mobility applications. Its range of premier battery electric powertrain and power system products enables Class 2-6…

Peugeot, the French automaker, is preparing for an “electric year” in 2023 with the introduction of new technologies. One of the latest additions is the 48V HYBRID system, created by Stellantis, which will first be offered on Peugeot’s 3008 and 5008 models before expanding to other models in the future. The 48V HYBRID system adds to Peugeot’s existing family of electrified engines, which includes plug-in hybrid, 100% electric, and fuel cell variants. The 48V HYBRID system combines a new-generation 136bhp PureTech petrol engine with a 6-speed dual-clutch electrified gearbox and an electric motor. This technology offers extra torque at low…

Chinese battery manufacturer CATL is reportedly offering select electric vehicle (EV) makers, including NIO, significant discounts on battery costs in an effort to retain core customer loyalty. The company is implementing a lithium rebate programme for a few strategic clients, with the core terms of the partnership specifying that CATL will settle with car companies at a price of RMB 200,000 per ton of lithium carbonate for the next three years. Automakers signing the partnership will be required to commit around 80% of their battery purchases to CATL. Currently, battery-grade lithium carbonate costs around RMB 470,000 per ton, so car…

The electric vehicle (EV) market in China is hotly contested, with the likes of BYD and Tesla vying for market share. According to Charlie Munger, the well-known Berkshire Hathaway fund manager and investor in BYD, the Chinese automaker is dominating Tesla in China. However, a closer look at the data reveals a more complex picture. BYD is renowned for its affordable offerings, making up the majority of the Chinese EV market. In contrast, Tesla’s vehicles are positioned at the premium end of the market, which traditionally garners less popularity. Nevertheless, Tesla’s sales numbers in China have been impressive and continue…

Despite being a leader in the electric vehicle market, Tesla’s biggest competition is not other EV manufacturers but those making cars with internal combustion engines. This is because Tesla’s ambitious production and sales targets cannot be achieved without taking market share from ICEs, which continue to dominate the global automobile market. However, if a competitor were to arise and challenge Tesla’s supremacy with a better product, Tesla CEO Elon Musk would reportedly not mind if the company went bankrupt. During a talk at the World Government Summit on February 14, Tesla board member Hiromichi Mizuno told CNBC’s Dan Murphy that…

Volkswagen’s main factory in Wolfsburg, Germany, has been awarded the contract for producing an additional electric vehicle starting in 2026. The new car will be a compact SUV model and is expected to fill the gap until the company’s upcoming Trinity core model is ready for launch. The Trinity’s development has been delayed due to software development problems, and it is not yet known if it will be built at the Wolfsburg factory or a new facility in the Warmenau district of the city. See also: Volkswagen invests $ 482 million in Wolfsburg plant for production of ID.3 electric hatchback…

Hamburg is set to become the first German state to ban combustion engine taxis from 2025. According to the city’s transport minister, Anjes Tjarks, the move is aimed at accelerating efforts to tackle climate change in the transportation sector. Tjarks believes that the ban on combustion engine taxis is a positive step in the right direction. Switching to electric and hydrogen-powered taxis has already resulted in an annual reduction of 2,000 tonnes of CO2 emissions. If the entire taxi fleet in Hamburg goes electric, this figure could rise to 25,000 tonnes per year. Hamburg launched the “Future Taxi” project in…

Mercedes-Benz’s latest addition to their electric SUV lineup, the EQE SUV, has just hit the market in the UK. The EQE SUV comes with a base price of £90,560 for the EQE 350 4MATIC AMG Line, offering customers cutting-edge technology and best-in-class comfort. The entry-level EQE SUV 350 4MATIC is equipped with a broad range of features, including fully electric memory function sports seats with leather upholstery in black or neva grey trim, ENERGIZING AIR CONTROL, 12.8” and 12.3” Digital Instrument Displays, Active Parking Assist, and Illuminated Door Dills. The exterior of the EQE SUV 350 4MATIC boasts features such…

Ottometric, a technology company specializing in the validation of Advanced Driver Assistance Systems (ADAS), has secured $4.9 million in seed funding. The investment round was led by Rally Ventures, with the participation of leading mobility funds, including Goodyear Ventures, Proeza Ventures, Automotive Ventures, Trucks VC, Reinforced Ventures, and Investor Collaborative. The company was founded in 2019 by a team of automotive industry veterans with extensive experience in artificial intelligence (AI) training and validation processes. They developed a cloud-based software platform that automates and streamlines the ADAS development and validation process, helping OEMs and their suppliers save millions in development costs…

Ford has recently announced that it is halting the production and shipments of its all-electric version of the best-selling pickup truck in the US, the F-150 Lightning. The automaker cited potential battery issues as the reason behind the stop-shipment order and production halt. According to Ford’s spokesperson, Emma Bergg, a vehicle displayed a potential battery issue during the pre-delivery quality inspection process, prompting the company to investigate the matter and hold the vehicles until further notice. See also: Ford Teases Performance F-150 Lightning Concept Fortunately, customers who have already purchased the F-150 Lightning can breathe a sigh of relief as…