Author: Harding Greenwood

Taiwanese electric scooter manufacturer Gogoro has announced a significant investment of $50 million from Gold Sino Assets Limited, marking a strategic move to bolster its expansion efforts. The investment comes as Gogoro continues to make strides in the electric vehicle market, with shares closing at $1.46 on Friday, resulting in a market capitalization of $358.87 million. Under the terms of the agreement, Gogoro will issue 32,516,095 ordinary shares to Gold Sino, valued at approximately $1.5377 per share. Additionally, Gold Sino will receive a warrant to purchase 10,838,698 ordinary shares of Gogoro at an exercise price of $1.6915 per share. The…

Hyundai Motor America has defied industry expectations by reporting robust sales figures for May, with 78,485 vehicles sold, marking a 12% increase from the same period last year. Year-to-date, the company has sold 331,892 vehicles, up 2% year-over-year. The Korean automaker’s U.S. electrified vehicle sales, including EVs, hybrids, and plug-in hybrids, soared by 50% year-over-year, with all-electric vehicles witnessing a remarkable 42% increase compared to May 2023. Notably, May also marked the best sales month for Hyundai’s Ioniq 5 crossover. In May, Hyundai sold 5,548 electric cars based on its E-GMP platform in the U.S., a 62% increase from a…

In an upcoming software update dubbed Software Version 2024.14.3, Tesla is set to replace its seat sensors with cabin radar for safety purposes, according to Tesla hacker greentheonly. Tesla has traditionally used occupancy sensors in its seats to indicate which seats are occupied by passengers, including the driver’s seat, particularly for maintaining occupancy during the operation of the Full Self-Driving and Autopilot suites. https://twitter.com/greentheonly/status/1785777290879643909 However, the company is now planning to abandon the use of seat sensors altogether in favor of cabin radar. greentheonly discovered this change while analyzing data related to the software update. While some speculated that Tesla…

Pepper Motion, a German company specializing in zero-emission drive kits for commercial vehicles, has been sold to a strategic investor from Turkey. The acquisition comes after Pepper Motion filed for insolvency in self-administration earlier this year. The Denkendorf-based company’s plans for expansion into India remain uncertain following the sale. Management consultancy Falkensteg facilitated the acquisition process and confirmed that the Turkish investor will take over Pepper Motion’s operational capacities in Germany and its development expertise for modular electric and hydrogen drives. Pepper Motion’s drive kits are designed for installation in buses and trucks, focusing on battery-electric and fuel cell drive…

Renowned tech and electric vehicle (EV) reviewer Marques Brownlee, popularly known as MKBHD, has bestowed high praise upon the luxury electric sedan Lucid Air Sapphire. In a recent video on his YouTube channel Auto Focus, Brownlee hailed the Lucid Air Sapphire as “one of the best sedans ever made,” asserting its superiority not just in the EV segment but across the automotive industry. “This is one of the best sedans ever made—I’m not saying electric—it’s one of the best sedans ever made,” Brownlee remarked in the video. “And honestly, yeah, it’s peak EV right now. This is as good as…

Polestar, the electric car manufacturer, is facing a critical situation as its stock recently plummeted to an all-time low of 73 cents, jeopardizing its Nasdaq listing unless its fortunes are reversed. The company, which went public through a reverse merger with a special purpose acquisition company (SPAC) in 2022, was once valued at $21 billion. However, like many other electric vehicle (EV) companies listed on the Nasdaq or NYSE in recent years, its stock has performed poorly, losing approximately 95% of its value. Polestar’s market capitalization has dwindled to just $1.65 billion. Polestar’s stock dipped below $1 for the first…

As Chinese electric vehicle (EV) manufacturers edge closer to the American market, U.S. automakers are feeling the pressure to compete in the burgeoning segment of affordable electric cars. General Motors (GM), like its competitors, is recognizing the necessity of producing more affordable EVs to remain competitive in the expanding EV market, moving beyond high-margin luxury SUVs and pickups. In response, GM is reviving the Chevrolet Bolt, acknowledging the significant success of the uber-affordable EV before its discontinuation. See also: General Motors Invests $390 Million in Kansas for Next-Gen Chevy Bolt EV Production Marissa West, GM’s North American chief, highlighted the company’s…

North American EV charging company FLO has announced the start of production for its FLO Ultra charger at a facility in Auburn Hills, Michigan. This milestone signifies the company’s commitment to deploying fast-charging EV infrastructure across the United States and Canada. The decision to open the Auburn facility was announced in 2022, marking a significant expansion as the company had previously manufactured only in Canada. This week’s ramp-up also includes upgrades to comply with the National Electric Vehicle Infrastructure Program’s (NEVI) standards and the Buy America Act. The FLO Ultra charger boasts a new motorized cable management system called EZLift,…

McLaren, renowned for its sports cars and supercars, is venturing into the bicycle market with a full lineup designed to appeal to enthusiasts who share a passion for both. The new range includes two power levels, offering a hardtail and full suspension option, catering to a variety of preferences. However, prospective buyers should be prepared for a significant investment, as the entry-level price is set at $7,950. Named the Sport and the Extreme, these models boast features that cater to most e-bike shoppers’ needs. Each bike comes equipped with a carbon fiber frame and custom handlebars that integrate a digital…

Chevrolet has officially initiated deliveries of the all-electric Equinox SUV, marking a significant milestone for customers eagerly anticipating the arrival of the highly anticipated vehicle. General Motors (GM) announced that the Equinox EV, touted as the “most affordable EV” in its class with a range exceeding 300 miles, is now being delivered to customers, signaling the beginning of a new era for electric vehicles in the automotive market. Production of the Equinox EV commenced earlier this year, and the new electric SUV is already making its way to customers. Last fall, Chevrolet unveiled that the entry-level Equinox 1LT FWD would…

Tesla is reportedly set to utilize a data center in China to train its self-driving algorithm as part of its ongoing development of fully autonomous electric vehicles. The company intends to shift some of its data processing to the Chinese region and is planning to establish a data center shortly after receiving approval for its Full Self-Driving (FSD) suite in China. According to Reuters, which cited two individuals familiar with the matter, Tesla will collaborate with a Chinese partner to establish the data center for enhancing the operation of its FSD suite. The company has reportedly engaged in discussions with…

South Korea’s SK Innovation is reportedly exploring the sale of its subsidiary SK IE Technology (SKIET) as part of a strategic move to restructure its battery business, according to Maeil Business newspaper. The potential sale is seen as a response to financial challenges faced by SK Innovation’s battery-making unit, SK On, amidst a slowdown in demand for electric vehicles (EVs). The newspaper, citing an unnamed investment banking source, stated that the sale of SKIET aims to alleviate financial pressures within SK On. SKIET is a key supplier of separators, a crucial component in EV batteries, to major EV battery makers…