Author: Joshua Morris

French company Edenred has acquired a majority stake in the Danish charging platform Spirii, in a move aimed at expanding its presence in the electric mobility sector. Spirii, founded in 2019, sees this acquisition as a catalyst for accelerating its growth in Europe and entering markets in Latin America and the USA. Edenred, known for its digital platform for services and payments, has expanded its offerings beyond its voucher business roots to provide transaction solutions for companies, employees, and retailers. With the acquisition of Spirii, Edenred is making its foray into the charging business, aiming to integrate Spirii’s platform technology…

Europe’s automakers will not challenge the European Union’s decision to effectively ban fossil-fuel vehicles by 2035, regardless of the outcome of this year’s European parliamentary elections, announced Luca de Meo, president of the European Automobile Manufacturers Association (ACEA), on Monday. Addressing the press at the Geneva car show, de Meo, who is also the CEO of French carmaker Renault, emphasized the auto industry’s responsibility “as business leaders… is not to argue against the regulation.” See also: Canada to Require All New Car Sales to be Zero Emissions by 2035 “We are not contesting 2035,” de Meo stated. “Now we must get…

MG Motors, a subsidiary of China’s SAIC, introduced its latest offering, the hybrid hatchback MG3, aimed at the European market. This move comes amidst a shifting landscape in the electric vehicle (EV) sector, where demand has shown signs of slowing. The MG3 provides an alternative to purely electric vehicles by offering a lower-emission model that does not require charging. See also: SAIC’s MG Motor Considers European Production for Electric Compact Model MG4 A pure hybrid, the MG3 combines a traditional fossil-fuel engine with a larger battery, allowing the vehicle to operate in electric, zero-emission mode intermittently. MG highlighted that the MG3’s…

HL Mando, a unit of South Korea’s HL Group specializing in electric vehicles and self-driving systems, announced on Thursday the establishment of an auto parts joint venture focusing on commercial vehicles with China’s Tianrun Industrial Technology Co. The move is aimed at expanding HL Mando’s global business reach. The newly formed joint venture, Tianrun Mando, sees Tianrun Industrial Technology holding a 60% stake, with HL Mando holding the remaining 40%. The joint venture, headquartered in Shandong, China, received a total investment of 100 million Chinese yuan ($13.8 million), with Tianrun contributing 60 million yuan and HL Mando investing 40 million…

General Motors (GM) is revamping its approach to worker bonuses, with a focus on specific business areas such as electric vehicle (EV) sales and the performance of its autonomous vehicle unit, Cruise. According to a report from Automotive News, GM will take into account company performance in EV sales, software and services, and Cruise operations when calculating bonuses for salaried workers in 2024. The report indicates that 60 percent of the bonuses will be based on free cash flow and earnings before interest and taxes, while the remaining 40 percent will be tied to the performance in the aforementioned areas.…

Rivian, the electric truck and SUV startup, is following in Tesla’s footsteps with plans to open its exclusive charging network, the “Adventure Network,” to drivers of non-Rivian electric vehicles. The expansion is set to take place in the latter half of 2024, according to the automaker’s fourth-quarter shareholder letter. The Adventure Network currently consists of 400 fast chargers at 67 locations, with Rivian aiming to expand to hundreds more locations with thousands of additional stalls. While this move may not have the same seismic impact as Tesla’s expansion of its Supercharger network, which now boasts 12,000 plugs accessible to most…

Ford Motor announced on Friday that it had paused shipments of all 2024 model year F-150 Lightning electric pickup trucks to conduct quality inspections for an undisclosed issue. The halt in shipments, which began on February 9, comes as Ford looks to ensure the high standards of its electric vehicle (EV) truck. The No. 2 U.S. automaker did not provide a timeline for when it expects to resume shipments, which had initially started in January. A Ford spokesperson declined to specify the nature of the quality issue being addressed. See also: Tesla Charging Adaptors on the Horizon for Ford Mustang Mach-E…

FinDreams, a battery manufacturing unit under BYD, has inked a landmark agreement with US automotive parts giant BorgWarner, paving the way for the supply of blade battery cells and the transfer of intellectual property rights. Announced today by BYD’s battery division, the agreement signifies a strategic partnership aimed at localizing battery pack production for non-original equipment manufacturer (OEM) commercial vehicles overseas, as outlined in the official statement. See also: BorgWarner Commences eMotor Production for XPeng Motors’ Smart EVs Under the terms of the agreement, FinDreams will supply BorgWarner with blade battery cells while granting the company intellectual property rights related to…

Rivian, the electric vehicle (EV) startup, revealed on Wednesday its decision to lay off 10% of its salaried workforce, marking its second round of layoffs within a year. The announcement was made alongside the company’s fourth-quarter and full-year earnings report, reflecting the broader challenges facing the EV industry. Rivian’s inability to achieve profitability on its vehicles and the competitive pricing pressure from Tesla have contributed to the company’s current position. In response, Rivian has initiated a “company-wide cost-transformation program” to address these challenges. See also: Rivian Aims for Mass Market Appeal with Affordable R2 Electric SUV R.J. Scaringe, Rivian’s founder and…

Los Angeles-based startup Arc made waves on Tuesday with the launch of its latest offering, the Arc Sport, a mass-market electric sport boat. The unveiling comes on the heels of the company’s successful $70 million early-stage funding round, which counts basketball player Kevin Durant and Hollywood star Will Smith among its backers. Priced at $258,000, the Arc Sport represents a more accessible option compared to the company’s previous $300,000 premium speedboat, Arc One, which was launched two years ago. The new boat is 23-feet long and can accommodate up to 15 people. See also: Kempower and Aqua Superpower Team Up for…

While many electric vehicle (EV) manufacturers are celebrating the start of the Chinese Lunar New Year, Human Horizons’ premium EV brand, HiPhi, is facing difficulties as it announces a six-month production halt, marking a further setback in its operations. The Shanghai-based company made this decision during an internal meeting on February 18, with the halt taking immediate effect, as reported by local media outlet Jiemian. According to the report, employee salaries up to February 18 will be paid as usual, with salaries typically paid on the 15th day of each month. See also: Showdown of EV Titans: HiPhi Z and HiPhi…

Tesla has confirmed that there won’t be a refreshed version of the Model Y launching in North America in 2024. This announcement comes after earlier reports suggested production commencement later this year. In an internal communication shared with delivery advisors in the market, Tesla instructed them to “communicate transparently” about the absence of a Model Y refresh this year. The company emphasized the importance of addressing customer expectations, particularly those anticipating a refresh similar to the Model 3. See also: Unplugged Performance Enhances Tesla Model Y with Off-Road-Ready Beadlock Wheels https://twitter.com/teslascope/status/1756499279685046707 “We heard your feedback that some customers are waiting to…