Happy Thursday. We have news on VinFast, Rivian, Jeep, Beep, Nuro, and so much more.
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Buick and Cadillac have offered buyouts for dealers who do not want to invest in selling EVs, but sister brand Chevy doesn’t want to join the bandwagon. Chevy has been selling EVs for years, and 95% of its dealers have sold at least one EV. Chevy hopes that dealers who take buyouts from its sister brands may end up exclusively selling Chevy vehicles, which can be a variety of ICE and/or electric vehicles.
Ford, however, is giving its dealers a choice – either invest in electric vehicles or do not sell EVs at all. At first glance, the choice seems harsh, but it helps Ford decide where to invest in EV infrastructure. Those that do want to sell Ford’s electric vehicles must agree to several rules: fair, transparent pricing with no last-minute haggling, and dealers must invest a certain amount for EV infrastructure. Decisions, decisions.
While the stock market had a tough week, Rivian added almost $3 billion to its market capitalization in one day due to announcing a partnership with Mercedes to build electric vans in Europe.
Jeep announced a plan to launch four EVs by 2025. Its first two electric vehicles are an all-electric Wrangler-style SUV, the Recon, and a luxury Grand Wagoneer S. Jeep anticipates the Grand Wagoneer S to have around 400 miles of range and do 0-60 mph in around 3.5 seconds.
Mullen Automotive has bought out EV startup Bollinger Motors. Mullen will introduce Bollinger medium-duty and sport utility trucks to its fleet.
The EV charger tax credit is back and will apply to eligible customers up until December 31, 2032. The credit applies to 30% of the cost of hardware and installation of home chargers, up to $1,000. The credit will apply to charging accessories starting in 2023.
EV of the Week
VinFast is the first Vietnamese car brand to expand globally and was established in 2017. Right now, its vehicles are built in Vietnam, but there are plans in the works to build a $2 billion manufacturing facility in NC. It was announced this week that the first 100 VF 8 EVs have been delivered in Vietnam, with the next steps being deliveries in the US. This is a huge milestone for VinFast, and we felt obligated to commemorate this occasion and make the VF 8 the EV of the Week (some specs below):
Nuro and Uber are partnering to use Nuro’s autonomous vehicles for food deliveries. Customers can begin using the AV delivery system beginning this fall in Mountain View and Houston areas. In other Nuro news, CVS Pharmacy in Houston has partnered with Nuro to test AVs for prescription deliveries. I cannot imagine the convenience for those homebound. Autonomous delivery will not cost extra, either.
In other AV News
Cruise plans to offer driverless rides in Phoenix and Austin within the next 90 days. Cruise has also announced its plan to hit $1 billion in revenue by 2025.
Baidu’s CEO, Robin Li, expects fully autonomous vehicles to launch quicker commercially than partially autonomous vehicles.
Beep purchased 8 of Navya’s autonomous shuttles to allow Beep to expand its services. As of now, Beep has 22 autonomous shuttles.
The University of Michigan received $5.1 million from the National Science Foundation to invest in Mcity, a facility made for testing autonomous vehicles. The facility’s test grounds will also be available to the public.
Ford plans to release a test autonomous vehicle by the end of 2022. The company plans to launch its first AV for commercial use within 5 years.
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