Author: Floyd Hawkins

South Korea’s LG Energy Solution Ltd reported lower-than-expected quarterly profit on Thursday as the company incurred a one-off cost related to General Motors’ Bolt electric vehicle recall, leading to a 6.4% drop in its shares. The major battery supplier to companies like General Motors Co and Tesla Inc cautioned investors about weaker electric vehicle (EV) demand in Europe and China compared to previous projections. LG Energy Solution’s Chief Financial Officer, Lee Chang-sil, acknowledged the challenging market environment for the second half of the year, attributing sluggish EV sales in Europe to economic headwinds, including high inflation. However, the company mentioned…

After an extended three-year beta phase, Tesla’s CEO, Elon Musk, recently announced that the upcoming Full Self-Driving (FSD) v12 update is nearing its release. While Musk has praised the advancements, there is still uncertainty surrounding the system’s regulatory approval and true autonomy level. Tesla’s FSD package has been in beta since late 2020, and despite notable improvements, it is currently classified as a driver-assist system. This means that drivers must maintain full responsibility and constant monitoring while using FSD. If any accidents occur during FSD operation, the driver is held accountable, not Tesla. See also: Tesla’s Full Self-Driving Version 12…

In the second quarter of 2023, electric vehicle manufacturer Nikola demonstrated notable progress, with significant boosts in both wholesale and retail sales. While the company is yet to finalize its financial statements, preliminary figures indicate encouraging developments for the pioneering player in the zero-emission Class 8 truck sector. Retail sales of Nikola’s Battery Electric Vehicles (BEV) trucks surged, doubling to an impressive 66 units compared to the previous quarter. In tandem, wholesale figures also rose, reaching 45 units from the initial 31 units reported in the first quarter. This remarkable uptick in demand reflects a burgeoning interest in Nikola’s sustainable…

In a move that highlights BYD’s penchant for creative naming strategies, the Chinese automaker has announced the Seal U as its latest offering for international markets. Formerly known as the Song Plus Champion Edition, the all-electric SUV joins the Ocean series lineup, featuring marine-themed names like Dolphin, Seal, and Destroyer. The Seal U comes with an assortment of striking design features, including a closed grille, sharp triangular headlights, and a sleek sloping bonnet line, culminating in a distinctive singular tail light unit. The captivating model is showcased in Azure Blue, setting it apart from its domestic counterpart’s Gray-Blue color scheme.…

In a recent car buying report by Recurrent, it has been observed that the prices of used all-electric vehicles in the United States have experienced a notable decline, making electric cars more attainable for consumers. Since July 2022, the prices of used EVs have gone down by approximately 28 percent, with Tesla models seeing a decrease of more than 30 percent year-over-year. This drop can be attributed to Tesla’s decision to reduce new vehicle prices, among other factors. One encouraging aspect of Recurrent’s data is the revelation that nearly 40 percent of used EVs in the US are now available…

In a major announcement, General Motors (GM) CEO Mary Barra has officially confirmed the development of a next-generation version of the beloved Chevrolet Bolt. This news comes as a delight to fans of affordable electric vehicles, as the upcoming Bolt EV is set to build upon GM’s advanced Ultium battery and drive technology, promising enhanced affordability, extended range, and cutting-edge technology. Barra expressed her excitement about the project, citing the current Bolt’s immense success with record sales, exceptional customer satisfaction, and high loyalty scores. The vehicle has also played a significant role in attracting new customers to the Chevrolet brand.…

Battery startup Nexeon, based in the UK, has announced a partnership with Panasonic, where it will provide high-energy silicon anode material for the company’s latest U.S. plant set to open in 2025. The collaboration aims to enhance Panasonic battery cells’ energy storage capacity and enable faster charging capabilities, offering the potential for smaller, lighter battery packs with similar ranges to the current battery cells. The forthcoming $4 billion De Soto, Kansas plant, operated by Panasonic Energy Co, will receive the silicon anode material from Abingdon-based Nexeon, which has garnered over $260 million in funding since its establishment in 2006. According…

HiPhi Y, the latest offering from Chinese premium electric vehicle (EV) manufacturer Human Horizons, is set to hit the Chinese market this weekend, marking its official debut. According to Xu Bin, the brand and communications manager at HiPhi, the company has already received an overwhelming response since the model’s launch. Delighted to announce the commencement of deliveries to Chinese customers on July 29, Xu revealed that the HiPhi Y has garnered an impressive 2,000 firm orders and an astounding 50,000 purchase intentions in just one week. However, due to the soaring demand, the number of available vehicles for test drives…

Webasto Charging Systems, a leading EV charging equipment manufacturer, has announced its plan to offer Tesla’s North American Charging Standard (NACS) connector as an optional addition to its charging solutions. Notably, the company has already developed a fully functional mobile cordset sample featuring the NACS connector, even before major automakers made the transition to this standard. With the inclusion of the NACS connector option, Webasto’s North American EV Supply Equipment product lineup will encompass Level 1 and 2 AC Electric Vehicle Supply Equipment (EVSE) for residential and semi-public applications. This strategic move ensures that customers with NACS-compatible electric vehicles can…

In an unexpected turn of events on Sunday afternoon, an electric truck that had previously sustained damage reignited at Nikola’s headquarters. Fortunately, no injuries were reported, as the electric-truck maker promptly addressed the situation and contained the fire. The incident occurred at approximately 2 pm at Nikola HQ, catching the attention of onlookers and raising questions about the safety of the damaged trucks kept on the premises. In response, the company assured the public that all necessary precautions were being taken. “At approximately 2 pm today at Nikola HQ, one of the trucks that was previously damaged reignited. No one…

BorgWarner, a prominent US automotive supplier, and Onsemi, a leading semiconductor manufacturer, have announced the expansion of their long-standing collaboration in silicon carbide (SiC) technology. The agreement, now valued at over $1 billion in lifetime value, aims to integrate Onsemi’s EliteSiC 1200 V and 750 V power devices into BorgWarner’s power modules for traction inverters. These inverters play a critical role in controlling electric drive motors and form a crucial component of power electronics. The collaboration between BorgWarner and Onsemi stems from the mutual recognition of the remarkable benefits SiC technology brings to the electric vehicle (EV) industry. BorgWarner’s power…

Following in the footsteps of Tesla’s recent price cuts, Ford made its move to slash prices on the F-150 Lightning, its signature electric pickup truck. While some investors showed concern in response to the price reduction, CEO Jim Farley remains optimistic about the potential impact on sales and deliveries. On July 17, Ford customers celebrated as Farley announced the price drop across the entire Lightning lineup. However, this move didn’t sit well with investors, causing Ford’s stock price to plummet by a significant $3.6 billion in total value. The market’s reaction seems, in part, influenced by Farley’s previous statements, where…