Author: Harding Greenwood

The United Kingdom is reconsidering its electric vehicle (EV) sales targets following industry feedback on the potential economic impact of its ambitious Zero Emission Vehicle (ZEV) mandates. The ZEV mandates, part of the UK government’s transition plan to achieve 100% zero-emission vehicle sales by 2035, are set to undergo consultation. Published in January 2024, the mandates require 80% of new cars and 70% of new vans sold in Great Britain to be zero-emission by 2030. While the government emphasized its regulatory framework as the world’s most ambitious, automakers have raised concerns about the feasibility of these targets. “The UK now…

Tesla’s highly anticipated Cybertruck has demonstrated a significant advantage in maneuverability thanks to its four-wheel steering system, a feature that sets it apart as a large electric pickup. A recent test visually compared the Cybertruck’s turning radius with the rear-wheel steering system enabled and disabled, showcasing a dramatic difference. As seen in a video, the Cybertruck with four-wheel steering enabled completed a much tighter turn than the one without, underlining the system’s impact on improving maneuverability. This system allows the rear wheels to steer slightly in the opposite direction of the front wheels, a common approach in vehicles with four-wheel…

EV charging platform provider Ampeco has raised $26 million in a Series B funding round led by Revaia, bringing its total funding to $42 million. The company aims to capitalize on the growing demand for EV charging infrastructure, driven by projections of over 30 million electric cars and a need for 40 million public charging points globally by 2030. Since January 2023, Ampeco has more than doubled its charging points, growing from 62,000 to over 120,000, with another 100,000 in development. “But the real story isn’t just in numbers – it’s in who’s choosing us. Major utilities like EON Drive…

Lucid Motors, VinFast, Rivian, and other electric vehicle (EV) manufacturers may experience a sales decline if President-elect Donald Trump follows through on plans to overturn the $7,500 federal tax credit for EV purchases. The credit, a crucial incentive for EV adoption, has significantly boosted sales through a leasing loophole utilized by many automakers. According to S&P Global Mobility, leasing has become a dominant strategy for some EV models to qualify for the tax credit. For example, leasing rates as of July 2024 showed 99.5% for the VinFast VF8, 91.4% for the Polestar 2, 90.4% for the Nissan Ariya, and 79.1%…

Rivian announced on Monday that it has received conditional approval for a $6.6 billion loan from the U.S. Department of Energy (DOE) to support the construction of its new production facility in Georgia. The facility is central to the electric vehicle maker’s plans to expand its lineup with the R2 SUV and R3 crossover, aimed at providing more affordable EV options. Operations at the Georgia plant are expected to commence in 2028. “This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 and R3 vehicles that emphasize both capability and affordability,” said…

Kia introduced the 2025 EV5 GT Line at the 2024 Guangzhou Auto Show, unveiling a sportier, upgraded version of its compact electric SUV. Building on the foundation of the EV5 launched last summer, the GT Line model elevates the EV’s appeal with sleek design enhancements and improved performance. The EV5 is positioned as a competitor to Tesla’s Model Y, offering comparable dimensions at 4,615 mm in length, 1,875 mm in width, and 1,715 mm in height. Initially launched in China with a starting price of $21,000 (149,800 yuan), the EV5 combines affordability with advanced technology, including a BYD Blade battery.…

South Korean battery maker SK On has entered into a three-year agreement with Posco Pilbara Lithium Solution to procure up to 15,000 tonnes of lithium hydroxide for use in NCM cathodes. The deal underscores SK On’s efforts to diversify its raw material sources while reducing logistics costs and lead times. The lithium hydroxide will be processed in South Korea, though the raw material originates from Pilbara Minerals’ Pilgangoora mine in Western Australia, which has an annual capacity of approximately 680,000 tonnes. Posco Pilbara Lithium Solution, a joint venture formed in 2021 between Posco and Pilbara Minerals, handles the final conversion…

Chinese electric vehicle (EV) giant BYD announced plans to launch its next-generation blade battery in 2025, promising to enhance vehicle range and extend battery life, according to a senior company executive. “I think in the coming years, 2025, BYD will introduce the new generation of our remarkable blade battery,” said Cao Shuang, managing director of BYD Central Asia in European Auto Sales Division, during an interview with Chinese state media outlet CGTN at COP29 in Baku, Azerbaijan. “This will enhance the driving distance of our vehicles, and also extend the life cycle of the battery itself.” BYD has made strides…

Rivian is preparing to open its proprietary Rivian Adventure Network (RAN) to non-Rivian electric vehicles, a move expected by the end of 2024. CEO RJ Scaringe provided updates during a recent roundtable, emphasizing the company’s commitment to creating a reliable, user-friendly charging experience for all EV owners. Since launching its charging network in 2020, Rivian has focused on placing chargers near scenic destinations, reflecting its outdoors-focused brand. The first site, a “Charging Outpost” near Yosemite National Park, set the tone by transforming an old gas station into a cabin-style charging hub. With 91 sites and 700 chargers in operation, RAN…

A Rivian R1T electric pickup truck demonstrated its impressive towing capabilities this week, pulling a semi-truck stuck in the mud in Covington, Kentucky. The incident highlights the potential of electric pickup trucks to handle demanding tasks, challenging lingering skepticism about their practicality. The Rivian R1T, known for its powerful quad-motor setup delivering 1,198 lb-ft of torque and over 1,000 horsepower, proved its mettle during the rescue. The semi-truck had become lodged in the mud, blocking a residential street, when a local Rivian owner and former engineer, equipped with the electric truck, decided to intervene. Using the R1T’s tow gear, the…

British carmaker Lotus announced an evolution of its Vision 80 electrification strategy during its third-quarter earnings call, introducing a new 900V Hyper Hybrid technology that integrates the benefits of electric vehicles with the range and versatility of internal combustion engines. Lotus CEO Feng Qingfeng, speaking through a translator, clarified the company’s approach, stating, “The upcoming hybrids won’t simply be range-extended EVs.” Unlike traditional plug-in hybrids, the new vehicles will offer the capability to rely entirely on a gasoline engine under specific scenarios, such as highway driving, where engines operate more efficiently at sustained high speeds. The new Hyper Hybrid powertrains…

Dutch electric bus manufacturer Ebusco has raised €36 million in a rights issue, providing a critical financial boost for the company as it seeks to stabilize its operations and recover from mounting challenges. The funds will be used to address financial strains and support a reorganization led by new CEO Christian Schreyer. “This capital raise is essential for the continuation of the company, and I’m pleased to get the chance to move forward and further restore the company,” Schreyer said in a statement. “The coming months will remain challenging, but with the dedication and determination I have seen at Ebusco,…

Lotus, the iconic British automaker, is reportedly revising its ambitious plan to become an all-electric mobility provider by 2028. Instead, the company plans to adopt “Super Hybrids,” blending high performance with extended range through a combination of advanced batteries and a turbocharged engine. The strategy shift, first outlined by CEO Feng Qingfeng in a reported interview with The Wall Street Journal, comes amid concerns about customer preferences and technological barriers in the luxury vehicle segment. “I believe fuel vehicles still have a long lifecycle,” Qingfeng reportedly said, highlighting that the average Lotus driver covers approximately 18,641 miles (30,000 km) annually,…

Xiaomi is gearing up to unveil its second electric vehicle (EV) early next year after surpassing its 2023 delivery target of 100,000 units ahead of schedule, according to local media reports. The new model, internally codenamed MX11, is an all-electric SUV set to debut in February or March 2024, according to a Xiaomi insider cited by Caijing. It will share its platform and components with Xiaomi’s first EV, the SU7 sedan, but feature a distinct design aimed at competing directly with Tesla’s Model Y. Xiaomi founder and chairman Lei Jun previously announced that the production version of the SU7 Ultra,…

Hyundai is raising the bar in the electric SUV market with the introduction of the Ioniq 9, a seven-seater flagship designed to meet the needs of families and long-distance travelers alike. Positioned as the newest member of the Ioniq family, the Ioniq 9 boasts a range of up to 620 kilometers (WLTP) and three rows of seats, catering primarily to the US and Asian markets, with a European launch planned for next year. Developed on Hyundai’s cutting-edge Electric-Global Modular Platform (E-GMP), the Ioniq 9 sets new benchmarks in performance, range, and efficiency. Advanced Performance and Long-Range Capabilities The Ioniq 9…

Coca-Cola HBC Switzerland has taken a significant step toward sustainability by ordering 177 Skoda Enyaq electric vehicles for its sales representatives. With this acquisition, the company’s fleet will consist of 90% electric vehicles, reducing annual CO2 emissions by an estimated 700 tonnes, equivalent to an 88% decrease. The first batch of 68 Enyaqs was delivered last week, with the remaining 109 scheduled to arrive in two further shipments this year. Skoda Switzerland confirmed the mix of rear-wheel and all-wheel-drive variants, though details on specific configurations remain undisclosed. The Enyaqs, equipped with a 77-kWh battery, offer a WLTP range exceeding 500…

German supplier Handtmann Systemtechnik has introduced a modular lithium iron phosphate (LFP) battery system designed for use in heavy vehicles, marine applications, and stationary energy storage systems. The scalable system offers a capacity of up to 1.3 MWh, catering to diverse customer needs in energy storage and installation space. The liquid-cooled system utilizes 13 kWh modules that can be configured to create battery sets with capacities reaching several megawatt hours. According to Handtmann, the system supports up to 56 battery boxes, arranged in configurations of up to seven in series and eight in parallel. “Individual configurations with up to 16…

BYD is set to launch the world’s fastest-charging blade battery for construction machinery at the Bauma China exhibition in Shanghai on November 26. This new battery, developed in collaboration with XCMG, a leading Chinese construction machinery manufacturer, aims to revolutionize the performance of heavy-duty equipment. The battery, based on BYD’s lithium iron phosphate (LFP) technology, is designed to support a high-voltage platform of 1500V and a maximum current of 400 amps. Available in sizes from 200 to 2500 kWh, it boasts a 7,000 charging cycle life, making it one of the most durable batteries in the market. Additionally, it can…

Volkswagen is set to begin a new round of collective bargaining talks on Thursday, as the company faces mounting pressure to reduce costs and prevent plant closures. The works council and IG Metall trade union have proposed a range of measures, including salary cuts and the creation of a future fund. The aim of these proposals is to allow for flexible reductions in working hours without resulting in job losses. The labor groups have demanded that the job security agreement, which was canceled by Volkswagen in September, be reinstated. This reinstatement would apply not only to the six plants in…

STMicroelectronics (ST) has pushed back its long-term financial targets, now aiming to hit annual revenue of $20 billion and an operating margin above 30% by 2030, instead of 2027 as previously forecast. This adjustment follows three guidance cuts earlier this year and reflects the company’s expectations that the demand slump for industrial and automotive chips will continue into 2025. The European semiconductor giant, one of the region’s largest, acknowledged the ongoing challenges in the industry, particularly in its automotive and industrial sectors. “We expect the automotive weakness to be countered by strength in industrial and electronics markets in the second…