EVs in 60ish Seconds: This Week’s Top News – 11/11/2021

by EPG | Nov 11, 2021 | Newsletter

Check out some of this week’s top EV headlines below or get the full scoop here. At the very least, you’ll be the smartest person at the water cooler when it comes to major headlines in the industry and at best, you’ll win one of our free prizes!

How much did they raise?  

Rivian finally went public on November 10th and closed the day at $100.73 per share which raised around $11.9 billion for the company. At its opening price, Rivian was already worth more than automakers Ford and GM and was valued at $86 billion. In honor of them going public, check out the R1T easily climbing Hells Gate in Moab.

Honda’s Not Happy

Congress is still working on passing the “Build Back Better Act” The long-awaited bill includes a restructured federal tax credit for EVs to up to $12,500. The key word part of this is “up to”. There will be a $7,500 federal tax credit for all manufacturers, but the additional $4,500 will only be available for EV’s that are made by union workers and the remaining $500 to manufacturers who use batteries made in the U.S. Basically, the $4,500 will only be available for GM, Ford, and Chrysler EVs and Honda is not happy about this. 

In the piece written by Rick Schostek, the EVP of American Honda Motor Co., he argues that this gives an unfair advantage to the Big 3. This will negatively impact non-union manufacturers, which negatively impact the employees of these companies as well as customers down the line. The EVP states that if the goal is truly environmental sustainability, this move would be contradictory and the policy needs to be inclusive of all manufactures regardless of the status of its workers. What do you think? Leave a comment below.    

Made in China

Last week, we talked about how most American EVs sell better in China than China’s own EV companies. In October, Tesla’s overall sales hit almost record levels in China. According to the China Passenger Car Association, the total volume (sales and export) increased 348% year over year to 54,391 units. September’s sales were slightly above October’s sales. In China, the only EV company to surpass Tesla’s sales was BYD, with over 80,000 sales and exports. Year-to-date, Tesla has sold around 218,000 electric cars in China. A majority of those cars were exported with a total of 40,666 units. This data proves a new all-time monthly record. In the next couple of months, we recommend watching out for November’s focus on exports. However, in December, Tesla is expected to increase local delivery numbers.  

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EVs in 60ish Seconds: This Week’s Top News – 10/14/2021

by EPG | Oct 14, 2021 | Newsletter

China 

Six years after Xpeng launched, the company has announced they’ve produced 100,000 cars.  For comparison, it took Tesla 12 years to produce 100,000 vehicles. Xpeng’s Chinese competitor, Nio, said in April they also reached the 100,000 production milestone after its founding in 2014. Despite it taking 12 years, Tesla has had some tremendous momentum with Tesla hitting its millionth car produced in March 2020 and even more recently with 238,000 vehicles produced just in the 3rd quarter this year.  Chinese electric battery and vehicle maker BYD said in May it produced 1 million passenger cars in the new battery-only and hybrid-powered cars category. Tesla may be out front, but China has several manufacturers working on closing the gap.  

Moving South

Electric vehicle and battery makers are planning to spend around $24 billion in new factories in the southern United States.  Some of the factories include (check out the article for the full list):

• Lucid just opened a $300 million plan in Casa Grande, AZ and plans on another $1 billion in expansion.
• Nikola is planning a $600 million facility in Coolidge, AZ
• Tesla is almost finished with its $1.1 billion facility in Austin, TX and is also moving its HQ to TX.
• Canoo has plans to building a $500 million facility in Pryor, OK
• Toyota and Mazda opened a $2.3 billion facility near Huntsville, AL.
• GM and LG are partnering on a $4.3 billion facility in Spring Hill, TN
• Ford recently announced a $5.6 billion complex in Stanton, TN

Norway Goals (Generic EV Pic)

Norway is taking the lead on EV sales with more than 9 in 10 cars sold for the month of September being either electric or hybrid. In all of 2021, less than 5% of all cars sold have been gas-powered. Sales of all-electric cars saw a roughly 46% increase over the previous September, with the Tesla Model Y leading the charge. Norway’s impressive EV sales are guiding the way for the goal of a complete transition to ZEVs by 2025.

August Was Good 

Global Plugin vehicle registrations were up 114% in August 2021 compared to August 2020, making up about 7.7% share of the overall auto market and 516,000 vehicles registered. Fully electric vehicles represented 71% of the plugin registrations in August, slightly above the year-to-date tally (67%). In total, there were about 365,000 registrations of fully electric vehicles, or about 5.4% share of the overall auto market. August was the plugin market’s third-best month ever and September is expected to be another great month for registrations. Check out the top 5 Plugin Vehicles sold in August:

1. Wuling HongGuang Mini EV: 41,188
2. Tesla Model Y: 28,144
3. Tesla Model 3: 22,889
4. BYD Qin Plus PHEV: 13,043
5. Volkswagen ID.4: 11,313

EVs in 60ish Seconds: This Week’s Top News – 10/7/2021

by EPG | Oct 7, 2021 | Newsletter

Electric Vehicles

Rolls-Royce will produce only electric cars by 2030, joining other premium brands making the switch. The company’s first fully electric-powered car, Spectre, will be on the market in the fourth quarter of 2030. BMW, the company that owns Rolls-Royce, hasn’t set an end date for producing fossil fuel-burning cars. Instead, they’ve set a goal of 50% electric vehicle production by 2030.

In other EV News

Rivian plans to build battery cells in-house after sourcing batteries from a South Korean supplier. Rivian is also planning an autonomous driving system and a potential subscription model. The autonomous capability will cost around $10,000 and the subscription of membership fees and connectivity-based services is expected to be about $5,500 for 10 years per vehicle.

Witricity has announced wireless charging in Hyundai’s Genesis GV60. This technology will initially be available in South Korea, before hopefully moving on to other countries. Wireless charging has the potential to provide Vehicle-to-grid (V2G) power and dynamic charging to power vehicles.

Ricardo and Lightning eMotors has announced a partnership to deploy powertrains for the electric commercial vehicle market in the United Kingdom. It is unclear when the program will officially begin. 

General Motors is building a new 300,000 square-foot battery research facility in Michigan to build EV batteries that are longer-lasting, quicker to charge, and more sustainable. One of their main goals is building EVs that can travel up to 600 miles on a single charge. The Wallace Battery Innovation Center, named after Bill Wallace, a battery engineer who died in 2018

The governors of Illinois, Michigan, Minnesota, and Wisconsin signed the Regional Electric Vehicle for the Midwest Memorandum of Understanding (REV Midwest.) This nonbinding agreement is set to provide the ‘foundation for cooperation’ on fleet electrification. This agreement will help accelerate vehicle electrification while safeguarding economic security, reduce harmful emissions, improve public health, and advance innovations.

Foxconn has struck a $230 million deal with Lordstown Motors to buy Lordtown’s Mahoning Valley manufacturing facility. Foxconn will also buy $50 million in Lordstown stock and have the right to use Lordstown’s electric vehicle technology.

Mazda’s fully electric MX-30 is a compact crossover vehicle with seating for 5. It was designed after Mazda’s CX-30 and Mazda 3 Platform while replacing the combustion elements with a 35.5 kWh battery pack and a 107 kW / 143 hp front-wheel-drive motor. The vehicle’s battery pack improves the structural rigidity of the vehicle. Mazda’s compact design is helped by a smooth split door design. The rear hatchback offers an impressive storage capacity of 21 cubic feet of gear. The vehicle starts at $33,470 while delivering 100 miles per charge, a perfect amount for the average American commuter.

Autonomous Snapshots

The Citroën Skate is a self-driving electric vehicle platform that can be fitted with different types of pods depending on the job at hand and cuts a slender profile through the streets to keep disturbances to a minimum. The vehicle is designed to operate nearly continuously, topping itself up at dedicated induction charging bases to stay on the move. Top speed can be limited to 25 km/h (15 mph) or 5 km/h (3 mph) depending on how it is being used, while hydraulic suspension softens the bumps and jolts for those on board. The Wheels are fitted with small electric motors and spherical tires to allow the vehicle to move in any direction. The vehicle measures 2.6m long, 1.6m wide, and 51 cm high. It’s designed to travel in dedicated lanes while a smart fleet management system governs its movements around a city.

Self-driving ride-hailing companies Cruise and Waymo have been granted permits to operate commercial autonomous taxi services for paying customers in San Francisco. Cruise is allowed to pick up passengers in designated parts of San Francisco between 10 p.m. and 6 a.m. at the maximum speed of 30 mph without a human driver in the vehicle. Waymo can operate cars within San Francisco and San Mateo County at speeds of up to 65 mph with a backup driver. There has been no announced timeline for this operation, so to our San Fran subscribers, make sure to definitely keep an eye out for more news!

Cruise predicts its ride-hailing business to reach $50 billion in revenue in the next couple of years. GM’s shares have jumped an impressive amount recently, the most in nearly 3 months. The company hopes to charge for rides as soon as next year and could expand in 2023 once they get the okay from California regulators.

Alexandria has begun laying groundwork for autonomous vehicles in the city. The recognition of AVs was noted as one of the changes highlighted at a joint Transportation Commission and Alexandria Mobility Plan Advisory Committee meeting. The plan proposes several actions to prepare for autonomous vehicles:

• Evaluated effectiveness of AV technology
• Develop maintenance and infrastructure plans for AV use 
• Develop policies to manage potential increases in traffic volumes, including limiting zero-passenger miles and incentivizing shared use
• Ensure that safety is always a priority

Qualcomm and SWW Partners of New York announced they are acquiring Veoneer for $14.5 billion. The company hopes to become a top supplier of Advanced Driver-Assistance Systems (ADAS) and autonomous driving technologies through its Snapdragon Ride Platform. Qualcomm’s main motivation in acquiring Veoneer is to obtain Arriver’s computer vision and driving policy technologies.

Lidar developer Ouster Inc. has agreed to buy Sense Photonics and will set up a new automotive division to be run by Sense CEO Shauna McIntyre. Ouster will buy Sense for 9.5 million Ouster shares, or about $68 million. 

With $1.6 million in funding, researchers from the University of Waterloo will be seeking solutions for securing autonomous vehicles against cyberattacks. This will be a 5-year project that will focus on developing theories, methods, and tools to create “complex automotive software” for connected and automated vehicles.

EVs in 60ish Seconds: This Week’s Top News – 9/9/2021

by EPG | Sep 9, 2021 | Newsletter

EVs in 60ish Seconds: This Week’s Top News

Check out some of this week’s top EV headlines below or get the full scoop here. At the very least, you’ll be the smartest person at the water cooler when it comes to major headlines in the industry and at best, you’ll win one of our free prizes!

IAA Munich

The most EV news this week comes from Munich at the IAA Mobility conference.  Some highlights below:

• BMW Believes Less is More:
• BMW showed off the  i Vision Circular Concept vehicle which reduces the materials used vs. a traditional vehicle. For example, the BMW logo is lasered into the front hood, reducing the need for a badge made from different colored cuts of metal or plastic. The vehicle will feature ionized bodywork rather than multiple layers of paint. BMW will replace their steel kidney grilles with LED lights instead. 
• Porsche and Electric Supercars:
• Porsche CEO believes it would be a mistake if the European Union caves to the Italian government’s push to exempt supercars from an internal combustion ban that’s been proposed for 2035. According to the CEO, “it would be the wrong move on performance grounds since electric in the next decade will be unbeatable.” 
• Renault Megane:
• Renault has announced the electric Megane to replace the older Zoe EV model in an effort to compete amongst Europe’s highly competitive EV market. The Megane will have a range of 470 kilometers and can be fast-charged for 300 kilometers of range in about 30 minutes.
• Chip Shortage:
• VW and Daimler’s CEOs are nervous about how long semiconductors will be scarce and disrupt their production. The car industry expects the shortage to continue into 2023 until it is resolved.

1073 Horsepower Mission R Concept

In other news from IAA, Porsche has revealed the Mission R electric race car. The vehicle is lower and wider than the 718 Cayman and features two electric motors with a 429-hp unit on the front axle and a 644-hp motor powering the rear.

In race mode, the Mission R delivers 671 horsepower but in Qualifying mode, the horsepower is turned up to 1073. Porsche says the two electric motors can supply the vehicle with 30 to 45 minutes of on-track action.

The Mission R is able to accelerate from zero to 62 mph in less than 2.5 seconds and can reach a top speed of more than 186 mph. The vehicle can match the lap times of a current 911 GT3 Cup. The vehicle has a 80 kWh battery pack and has a 900-volt system, so it can recharge from 5% to 80% in 15 minutes. Most of the vehicle’s body and interior are built from natural-fiber reinforced plastic along with 3D printed foam elements. The interior is geared toward maximizing on-track performance.

Right now, the Mission R is a prototype, but the company said a fully developed version could come in 2025 or 2026. 

Tesla Model 2

Tesla has announced it aims to release a $25,000 electric car in 2023. According to CEO Elon Musk, the car will also be fully autonomous and may not even have a steering wheel. This new price point is achieved through Tesla’s new battery cell and battery manufacturing effort, which could reduce battery costs by over 50%. 

Currently, Tesla is trying to release its Full Self-Driving Beta Software to its fleet in the US by the end of September. Once the software is out, Tesla plans to  improve it using data to make it several times safer than human drivers to achieve regulatory approval to use it as a true self-driving system

Mercedes Onslaught

Mercedes-Benz introduced many electric vehicles ahead of the IAA Mobility show in Munich, Germany. One of the models unveiled is the first AMG-branded high-performance  EV, a sedan, and a G-Class SUV concept.  Mercedes hopes to morph the brand into an electric-only automaker by the end of the decade with its dedicated 40 billion euros ($47 billion) for the electric-only plan.

Mercedes aims to launch three electric-only platforms in 2025 that will form the foundation for all of its novel vehicles. The MB.EA platform will be used for its medium to large passenger cars, while AMG. EA supports the lineup of Mercedes-AMG cars and the VAN.EA will be used for electric passenger minivans and light commercial vehicles.  Some of the future models from Mercedes include:

• The EQB compact suv which will come in two versions.  The EQB 300 4MATIC with 168 kW or 255hp and the EQB 350 4MATIC with 215 kW or 288hp. The range will be about 260 miles.
• The EQE350 sedan is the more affordable version of the EQS and will have a single electric motor that will produce 288 horsepower and 391 lb-ft of torque. The battery ranges around 660 kilometers, or 410 miles, and can add an additional 250 kilometers, or 155 miles, with 15 minutes of fast charging.
• The EQS 57 4MATIC+ is the first battery-electric AMG production model based on the EQ architecture. The vehicle has two AMG electric motors providing a total system output of 484 kW or 658hp.  The EQS also has “race start” which will bump the power to 761 hp and 742 lb-ft of torque, which jets the car from 0-60mph in 3.4 seconds. The battery has 108 kWh of storage capacity, providing 580 kilometers, or 360 miles, of range.
• The EQG is the electric Geländewagen or G-Wagen.  Not much is known about the electric luxury SUV except it will have four electric motors and plenty of power. 

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EVs in 60ish Seconds: This Week’s Top News – 8/26/2021

by EPG | Aug 26, 2021 | Newsletter

EVs in 60ish Seconds: This Week’s Top News

Check out some of this week’s top EV headlines below or get the full scoop here. At the very least, you’ll be the smartest person at the water cooler when it comes to major headlines in the industry and at best, you’ll win one of our free prizes!

Can We Get Some More Lightning

Due to increased interest by prospective customers, Ford intends to spend $850 million to double its original output goals for the electric truck. Ford has increased its production target for the F-150 Lightning electric pickup to 80,000 for 2024. Ford has 120,000 pre-orders for the EV truck, which is scheduled to launch next spring with a 15,000-unit run for the 2022 model year. In 2023, Ford will produce 55,000 Lightnings and 80,000 in 2024. In 2025, the Lightning is scheduled for a redesign, during which Ford hopes to be selling 160,000 EV pickups each year. This number would account for 18% of F-series pickup sales using the most recent sales volume data available (2019). 

Factories and the Boom 

Investments in electric vehicles is fueling the demand for factories for equipment manufacturers. Growth in the EV sector comes on top of the standard work manufacturing equipment makers do to support gasoline-powered vehicles. According to LMC Automotive, automakers will invest over $37 billion in North American plants from 2019 to 2025, with 15 of the 17 new plants being in the United States. “There’s still a pipeline with projects from new EV manufacturers,” said Mathias Christen,  a spokesman for Durr AG (DUEG.DE), which specializes in paint shop equipment and saw its EV business surge about 65% last year. 

Over 77% of the $37 billion will be directed at SUV and EV projects. Automakers have signed agreements for suppliers to build equipment for 37 EVs between this year and 2023 in North America. Orders received by China’s Midea Group rose 52% in the first half of 2021 to just under $2.23 billion. Startups like Fisker, Inc. have turned to manufacturers like Magna and Foxconn, whose buying power enables them to avoid shortages more easily.

Forget the Cables 

Genesis recently unveiled pictures and details of its first electric vehicle, the GV60, which should be on sale in the U.S. in 2022. The vehicle features an 800 V electrical architecture, which allows the battery to be charged to 80% in 18 minutes. The inverter supports 400 V DC fast charging and bidirectional charging by using the EV’s battery pack to supply up to 3.5 kW of AC power. One notable difference from other EVs is the absence of traditional reflecting glass mirrors. Instead, the GV60 has side-view cameras. However, this type of technology is unfortunately illegal in the United States. Genesis’ GV60 will also have optional wireless charging that charges the floor-mounted batteries. The wireless charging will fully charge in 6 hours compared to 10 hours when using a conventional wall charger.  

Russia is Onboard

The Russian government has formalized a plan to bring more EV’s to its roads over the next three years, which was approved on Monday.  The goal is for EV production to hit 10% of all cars produced by the end of 2030. The cost will be 591 billion rubles, or $8 billion. In the first stage of their plan, taking place from 2021 to 2024, the nation aims to have at least 25,000 EVs and more than 9,000 charging stations on its roads. The government will offer incentives to encourage consumers to purchase EVs, including loans and easy leasing terms. Starting in 2022, EVs will travel for free on toll roads in Russia. Currently, EVs account for less than 0.2% of the nation’s total passenger-car fleet. In comparison to countries such as China, Russia has some catching up to do, but is pushing in the right direction.

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Electric & Autonomous Vehicle News 5/13/2021

by EPG | May 13, 2021 | Newsletter