Author: Moira Shortle

Redwood Materials, a battery recycling and manufacturing company, has received a significant boost in its efforts to expand its domestic operations. The Department of Energy has committed to providing a $2 billion loan for Redwood Materials’ massive 173-acre facility located at the Tahoe Reno Industrial Center, east of Reno-Sparks. The facility will have the capacity to process “two-and-a-half Gigafactories worth of materials,” enough to supply 1 million electric vehicles per year, according to Redwood Materials CEO JB Straubel, who previously served as Tesla’s chief technology officer. See also: Redwood Materials invests $ 3.5 billion to build new battery plant in…

Despite market pressure from electric vehicle giant, Tesla, Volvo Cars has announced that they have no plans to lower the prices of their electric vehicles. The statement came from the company’s Chief Executive, Jim Rowan, following the release of their fourth-quarter profits which showed a decline. However, despite the drop in profit, Rowan emphasized that there was no need to cut prices as demand for Volvo’s electric cars remains strong and the company has a substantial order backlog for their full electric vehicles. The results also revealed that EV unit sales for Volvo tripled during the fourth quarter, with fully…

BMW has introduced refreshed versions of its X5 and X6 SUVs, which are set to be launched globally in April 2023. The new models come with updated drive systems, including the X5’s plug-in hybrid variant, which has been given a new designation as the X5 xDrive50e. The X6, on the other hand, will not be offered as a plug-in hybrid. The X5 xDrive50e boasts an improved drive system, which combines a six-cylinder combustion engine with a new electric machine. The new setup delivers 145 kW of output, an increase of 62 kW compared to its predecessor. BMW claims that an…

Nikola has received approval from the California Air Resources Board (CARB) to participate in its Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) program. The approval will allow customers of Nikola’s Tre hydrogen fuel cell electric vehicle to receive point-of-sale incentives starting at $240,000 and going up to $288,000 per truck in 2023. Additionally, customers will be eligible for a $40,000 federal clean commercial vehicle tax credit. California’s HVIP is a unique program aimed at promoting the use of hybrid and zero-emission commercial vehicles and reducing their cost of ownership. The program operates on a first-come, first-served basis…

Hyundai Motor India has unveiled plans to install 10 fast-charging stations across major highways and cities in the country by the middle of 2023. Each station will feature one DC 150 kW ultra-fast charger and one DC 60 kW high-speed charger. This move comes in conjunction with the launch of Ioniq 5, a subsidiary of Hyundai, in India. The Ioniq 5 can be charged from 10 to 80% in just 21 minutes on these fast-charging stations, as per the manufacturer. The first two charging stations were opened to the public on February 1st and will be managed and operated by…

Vietnamese automaker VinFast has announced a workforce reduction in the United States, as the company navigates a restructuring process in its key overseas market. This move comes amid a stalled shipment of its first vehicles and plans for a potential initial public offering (IPO). Although the exact number of jobs to be impacted has not yet been disclosed, a VinFast spokesperson confirmed that headcount in Vietnam, where the majority of the company’s operations and staff are located, will remain unchanged. VinFast, a subsidiary of conglomerate Vingroup JSC, has been striving to establish a presence in the US, where it aims…

Porsche is in the process of developing a full-sized electric luxury SUV, codenamed K1, that can accommodate up to seven passengers. The K1 will be positioned above the Macan and Cayenne and is expected to cost around $200,000 when it becomes available for sale in 2027. The SUV will be built on Porsche’s Premium Platform Electric chassis and will be equipped with a 920V electric system, which is projected to provide a range of 435 miles. Despite its spacious interior and 7-seat capacity, Porsche promises that the K1 will maintain the brand’s hallmark sports performance. See also: Porsche unveils the…

Freudenberg e-Power Systems and LG Energy Solution (LGES) have entered into a multi-year agreement for the supply of lithium-ion battery cell modules. The contract, which will have a total capacity of 19 GWh, aims to meet the rising demand for commercial vehicle applications, such as trucks and buses in North America and Europe. The move marks an important step towards the growth of sustainable electric drives in the commercial vehicle industry. Freudenberg’s e-Power Systems is a leading provider of emission-neutral energy systems in the sector, which requires batteries that are robust and durable. To provide its customers with the best…

Renault UK has unveiled the updated all-electric Megane E-Tech with the new top-of-the-line Iconic trim. The Iconic trim comes with the same extensive features as the limited edition Launch Edition but with the addition of a new heat pump and a wider color palette. Renault claims that the heat pump can improve the driving range in cold weather by up to 9%, making the vehicle more usable and increasing its residual value. In terms of aesthetics, Renault now offers two-tone paint options, giving customers the freedom to choose their preferred body color and either diamond black or shadow grey for…

Ford, a Detroit-based automaker, was once an early investor in Rivian, an electric vehicle (EV) startup. However, during a difficult 2022, Ford decided to sell off most of its shares in the company. As per a recent filing with the Securities and Exchange Commission, Ford disposed of 91 million Rivian shares in the past year. Ford made a $3 billion profit from sales over the course of the year, resulting in a good return on their initial investment of $1.2 billion. After selling 91 million shares, they now have approximately 11 million remaining Rivian shares. As of last year, Amazon…

Fisker, the electric car startup, has stated that it will not be following in the footsteps of Tesla by making drastic price cuts. The company is currently in the process of finalizing the electric Ocean SUV and expects to have it homologated by the end of February. The first variant to be released will be the Fisker Ocean One, with a starting price of $68,889. Despite the significant price difference between the Ocean One and Tesla’s entry-level Model Y, which starts at $53,490, Fisker CEO Henrik Fisker has declared that there is no need to lower the price of the…

Honda and General Motors are betting big on hydrogen fuel cell systems and are showing no signs of slowing down. Honda recently announced the launch of a new Fuel Cell Electric Vehicle (FCEV) model featuring a next-gen fuel cell system in 2024, developed in collaboration with GM. Although Honda is positive about the technology, their expectations are modest, with a target of selling 2,000 units equipped with the new hydrogen fuel cell system by 2025, and boosting that number to 60,000 by 2030. See also: Volkswagen to Focus on EV Development, Will Not Produce Hydrogen Cars in Next Decade Honda…