Author: Floyd Hawkins

Neta Auto, a subsidiary of Hozon New Energy Automobile, began preparations for its initial public offering (IPO) in Hong Kong in the fourth quarter of 2023, with cornerstone investments exceeding RMB 2 billion ($280 million), according to local automotive media outlet D1EV, citing sources close to the company. Founded in October 2014, Neta has completed over 10 rounds of financing, with publicly disclosed funding exceeding RMB 20 billion, the report stated. Neta’s parent company, Hozon New Energy Automobile, was established in 2014 and introduced the Neta brand in 2018. See also: Neta Auto Accelerates Global Presence with Debut of Electric Vehicles…

Ayvens, the merged mobility brand from ALD Automotive and Leaseplan, has finalized a framework agreement with Stellantis to acquire up to half a million vehicles by 2026. The deal includes various Stellantis brands and vehicles with different drivetrains, including electric options. According to a press release from the car manufacturer, significant delivery volumes are expected to commence in the first half of 2024 and continue throughout the year. Ayvens aims to add up to 500,000 Stellantis vehicles to its European leasing fleet by 2026. The agreement allows for flexible ordering quantities and delivery dates beyond 2024, accommodating fleet requirements and…

Renault’s Scenic E-Tech has clinched the prestigious Car of the Year 2024 award, highlighting the growing dominance of electric vehicles in the automotive industry. The French SUV’s victory adds to Renault’s impressive track record with multiple wins in the past. One of the standout features of the Scenic E-Tech is its claimed range of 625 km on the WLTP cycle, setting a high standard in the electric vehicle market. However, real-world driving conditions often result in lower ranges than those advertised. See also: Renault Introduces Affordable Variant of Scenic E-Tech Electric SUV The Scenic E-Tech faced tough competition from the likes…

In a bid to attract buyers, Hyundai has launched a fire sale on its 2024 IONIQ 5 electric SUV, offering a rare 0% finance offer. This incentive could translate to savings of up to $7,800 compared to a similarly priced Tesla model. The IONIQ 5, which sold nearly 34,000 models last year, ranked as the sixth best-selling electric vehicle in the US in 2023. Built on Hyundai’s E-GMP platform, the IONIQ 5 boasts a longer wheelbase than the three-row Palisade, thanks to its flat floor design, despite being similar in length to the Tucson. See also: Hyundai Ioniq 5 Named Best…

SAIC Motors, the parent company of MG, is expanding its presence in Europe with the introduction of a new electric-only brand, IM (Intelligent Mobility). The brand will debut with the IM L6, a premium electric sedan set to make its global premiere at the Geneva International Motor Show on February 26. The IM L6 is positioned to compete in the premium market segment, boasting impressive range and performance. While specific horsepower figures have not been disclosed, IM Motors claims the L6 will accelerate from 0-62 mph (100 km/h) in under three seconds, outpacing rivals like the Lucid Air Grand Touring…

Finnish charging hardware manufacturer Kempower has clinched substantial funding from the state economic development agency Business Finland to fuel its ambitious “Heavy Electric Traffic Ecosystem” development program, aimed at revolutionizing high-power charging solutions for electric trucks. Under the agreement, Kempower is set to receive a generous infusion of 10 million euros over a span of five years to drive forward its groundbreaking program. Additionally, Business Finland has allocated an impressive sum of 20 million euros to support partner projects aligned with the program’s overarching goals. As the driving force behind the initiative, Kempower is actively seeking over 60 collaborators to…

A California regulator has decided to postpone until June 19 an application by Alphabet’s Waymo to expand its robotaxi services to parts of the Los Angeles area and San Francisco’s peninsula, citing rising safety concerns over autonomous vehicles. The application has been “suspended for further staff review,” as indicated by a notification on the California Public Utilities Commission (CPUC) website, although the exact posting date of the notification remains unclear. See also: Waymo’s Autonomous Vehicle Attacked and Burned in San Francisco “The ‘suspension’ of an advice letter is a procedural part of the CPUC’s standard and robust review process,” Waymo stated…

Lotus Technology, the luxury electric vehicle subsidiary of British sports car maker Lotus Group, is set to commence trading its American Depositary Shares (ADSs) on the Nasdaq on Friday. This move comes as the company nears the finalization of its merger with Special Purpose Acquisition Company (SPAC) L Catterton Asia Acquisition Corp (LCAA). The business combination, expected to close on February 22, will see the combined entity retaining the name “Lotus Technology Inc,” according to a statement released yesterday. Lotus Technology’s ADSs will trade under the symbol “LOT.” See also: Lotus Confirms Apple Car Key Compatibility for New Emeya Electric Vehicles…

Lucid Motors, the American electric vehicle startup recognized for its luxurious offerings, is extending its reach into the European market with the unveiling of the Lucid Air Pure RWD, a new entry-level model in Germany. This rear-wheel-drive variant, boasting a remarkable 747 km range on the WLTP cycle and delivering an impressive 325 kW (442 hp), is set to significantly broaden accessibility with its starting price of €85,000. In a statement, a Lucid Motors spokesperson elaborated on the company’s strategy, stating, “We are thrilled to introduce the Lucid Air Pure RWD to the European market, offering exceptional performance and range…

Despite Kia’s explicit request not to mark up prices, some dealers are adding as much as $7,000 over the Manufacturer Suggested Retail Price (MSRP) for the new Kia EV9 electric SUV. The EV9, Kia’s first three-row electric SUV, opened for orders in November after generating significant consumer interest with pre-orders, according to Erica Watson, Kia America’s VP of sales. The EV9’s starting price of $54,900 is seen as a “wake-up call to the industry” by Kia. Recognizing the importance of maintaining price transparency, Kia urged dealers in November to avoid marking up the EV9. A letter from Kia, read by…

Japanese conglomerates Sony Group and Honda Motor Co. are gearing up to make a significant foray into the electric vehicle market with their joint venture, Afeela. The collaboration, announced in 2022 under the banner of Sony Honda Mobility, is poised to debut three electric vehicles by the late 2020s, marking a concerted effort to challenge established players like Tesla in the U.S. The venture’s initial prototype, an advanced all-electric sedan, was unveiled at CES 2023, showcasing a blend of spacious interiors and cutting-edge technology. This sedan, slated for production in 2025, will be the flagship model under the Afeela brand.…

Bollinger Motors has achieved a significant milestone with the Internal Revenue Service (IRS) granting the company “qualified manufacturer” status for clean vehicle credits under the Inflation Reduction Act (IRA) of 2022. This designation allows Bollinger’s B4 chassis cab to qualify for the IRA’s newly established credit for emissions-free commercial vehicles, providing a potential tax credit of up to $40,000 per vehicle. Under the provisions of Section 45W of the Internal Revenue Code, purchasers of Bollinger’s B4 chassis cab have the option to choose between two credit options. They can either claim a purchase credit amounting to 15% of the vehicle’s…