Author: Michael Khan

Hyundai Motor Group, the parent company of Hyundai Motor, Kia Corp and Hyundai Mobis, announced on Tuesday plans to invest 24 trillion won (approximately $18.14 billion) in South Korea’s electric vehicle industry through 2030. The investment aims to strengthen the company’s position in a segment that is projected to dominate long-term global automotive demand. The investment plan was unveiled as President Yoon Suk Yeol attended the groundbreaking ceremony for Kia’s first designated electric vehicle plant. The new plant, set to begin production in 2025, is the company’s first in the country in almost three decades. Hyundai Motor Group plans to…

The Tesla Model 3 RWD, the most affordable vehicle in the company’s lineup, will see its federal tax credit reduced from $7,500 to $3,750, effective from April 18. This reduction was confirmed by an update on Tesla’s official Model 3 page. Last month, reports had emerged that the base Model 3 would lose its $7,500 federal tax credit, followed by a notice on the all-electric sedan’s order page. However, the remaining federal tax credit for the Model 3 RWD was not listed by the electric vehicle maker at the time. Tesla’s recent update has effectively confirmed that the Model 3…

Atlante, a fast-charging provider that is a joint venture between Stellantis, NHOA Group, and Free2move eSolutions, has announced a partnership with Groupe Duval to build 188 DC and HPC charging points at the property company’s sites across France. The first of these chargers will be operational by the end of 2023. While no details have been released on the charging capacity or the planned number of chargers per site, the announcement refers to “fast and ultra-fast charging points,” and the charging stations will be accessible to Groupe Duval’s customers and the general public. See also: Stellantis Launches Fast-Charging Station Initiative…

B-ON, the Luxembourg-based electric vehicle manufacturer, is celebrating a successful first year in business, having produced and delivered 2,447 commercial electric vehicles and raised $150 million in capital. The company’s turnover for 2022 was $125 million, and it has signed contracts and letters of intent for the sale of a total of 11,000 vehicles, with negotiations for an additional 30,000 vehicles underway. See also: B-ON and Karma Automotive Partner to Manufacture Electric Light Commercial Vehicles in California CEO Stefan Krause praised the company’s resilience in the face of a challenging market: “It’s been an extremely tough year for financial markets,…

Rhenus Automotive and TSR Automotive, two subsidiary companies of the Rethmann Group, have joined forces to establish a new joint venture, The Battery Lifecycle Company GmbH (BLC). BLC’s aim is to recycle and reuse lithium-ion batteries from the mobility sector, offering holistic battery recycling throughout the entire value chain. The joint venture will be managed by TSR Automotive, with 65% ownership of the new GmbH, while the remaining 35% will be owned by Rhenus Automotive. BLC will initially operate from TSR’s site in Rheda-Wiedenbrück, where battery packs have already been dismantled since 2021 and examined for their suitability for reuse.…

South Korean automaker KG Mobility, formerly known as SsangYong Motor, has revealed the details of its first production model under the new branding – the Torres EVX electric SUV. The vehicle is fitted with a front-mounted electric motor, which produces 201 horsepower (150 kW / 204 PS), and is powered by a 73.4 kWh lithium iron phosphate (LFP) battery pack sourced from BYD. According to the company, the SUV has an estimated range of 500 km (311 miles) according to WLTP estimates, or over 420 km (261 miles) measured under Korea’s circle. Compared to the ICE-powered Torres, which makes 168…

Electric bicycles have been around for a while now, but the for-sport category is still relatively new. These e-bikes are designed to provide a perfect blend of man and machine, without compromising on performance. Typically, for-sport electric bicycles come with a 250-watt system, which strikes a perfect balance between weight and performance. But German e-bike specialist Rotwild is upping the ante with its latest offering, the R.X275. The R.X275 is touted as the lightest full-suspension electric mountain bike in the market, weighing in at just 15.3 kilograms. And it’s not just a claim – the bike has been tested by…

Atlanta Motorsports Park (AMP) has partnered with Indigo Energy to become the first race track in the USA to install five brand-new Autel MaxiCharger DC Fast Level 3 Chargers. These EV “superchargers” offer up to 180kW of charging, providing up to 125 miles of range in just 10 minutes with a maximum 400A output current. Most vehicles only require 20-30 minutes for a total charge. Jeremy Porter, the owner and CEO of AMP, said, “Electric vehicles are the future of racing, and EV owners deserve an uncompromised experience when pushing their performance to the limit. Our long-term ambition is to…

The road to fully autonomous vehicles on our streets may still be years away, but startups focusing on self-driving technology in closed-campus environments are making headway in building the technology on a smaller scale. Venti Technologies, a startup that focuses on autonomous vehicles for industrial supply chain businesses, has raised $28.8 million in a Series A funding round. The startup plans to use the funds to continue building its software, partner with third parties for hardware, and secure more deals. Venti’s target customer is the range of supply chain businesses that operate across warehouses, ports, and other shipping and logistics…

Rock Tech Lithium has announced that it has broken ground on its lithium plant in Guben, Brandenburg. The German-Canadian raw materials company is constructing a converter plant that will produce battery-grade lithium hydroxide for use in electromobility. The Guben converter is expected to go into operation in mid-2025, with qualified battery-grade lithium hydroxide being produced from 2026. The converter in Guben is the first of five planned by Rock Tech Lithium in Europe and North America. The company recently received the first partial permit and will now proceed as planned with testing work for the concrete piles and ground preparation.…

South Korean multinational electronics company LG Energy Solution (LGES) has announced that its battery factory in Arizona will be significantly larger than previously communicated. The facility will have an annual capacity of 27 GWh for round cells, more than double what was initially planned. Additionally, LGES will construct a second production facility on the same site for LFP pouch cells for stationary energy storage systems, with an annual capacity of 16 GWh. This marks the “largest single investment ever for a stand-alone battery manufacturing facility in North America,” according to LGES, with the company investing approximately $5.5 billion in the…

Dodge enthusiasts, gearheads, and anyone who loves a good old-fashioned muscle car can now rejoice as the automaker has just unveiled the newest addition to its lineup – the 2023 Dodge Challenger SRT Demon 170. CEO Tim Kuniskis himself introduced the car, calling it a “mouthful and a monster all in one.” But in addition to showcasing the latest in American muscle, Kuniskis also hinted at what’s to come for the future of Dodge. During the debut party for the Demon 170 in Las Vegas, Kuniskis spoke about the direction of the company, saying, “While everyone else is going to…