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Posts Tagged ‘ev news’

Volvo, Geely Create Joint Venture Aimed at EV Market

New deal helps reduce development costs.

by on Jul.21, 2017

Volvo CEO Hakan Samuelsson expects development and production costs to drop with the new joint venture with Geely and Lynk.

With its profits climbing 21.4% in the first half of 2017, Volvo Cars is planning to set up a new joint venture technology company with Geely Holding. The new deal is designed to reduce development and production costs.

Volvo’s venture with the Chinese car group is to “share existing and future technology, deepen industrial synergies and provide the economies of scale that will allow them to more rapidly develop next generation electrified vehicle technology,” the two companies said in a joint statement.

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Volvo Cars, Geely Auto and Lynk & Co. will share vehicle architecture and engine technologies through cross licensing arrangements of technologies managed by the new joint venture. The new partners will also commonly sourcing components cutting procurement costs. (more…)

GM Extends Production Shutdown at Chevy Bolt EV Plant

Sales for Bolt remain sluggish despite Model 3 frenzy.

by on Jul.18, 2017

GM extended the shutdown period for the Orion, Michigan, plant that produces the Chevy Bolt and Sonic due to slow sales for both.

With sales lagging and inventories bulging, General Motors is extending the shutdown of a plant in the Detroit suburbs that produces its Chevrolet Bolt EV, along with the conventionally powered Chevy Sonic subcompact.

The decision to extend a prior production cutback comes as a disappointment for GM, which had hoped to break into the mass market with the Bolt, the world’s first long-range battery-car to be sold at a mainstream price – just over $35,000 before applying a federal tax credit.

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The automaker says the shutdown at the Orion Township, Michigan, plant is “due solely” to weak demand for the Sonic. But there are nonetheless bulging inventories of the Bolt on U.S. dealer lots. By contrast, Tesla Motors is claiming it intends to rapidly ramp up production in order to meet what is believed to be an 18-month backlog of initial reservations for its similarly priced Model 3 battery-car. (more…)

Lucid Motors Reportedly Discussing Sale to Ford

Detroit maker said to pass as Lucid seeks new funding.

by on Jul.18, 2017

Lucid Motors' officials are open about the fact the company needs another $700 million in cash to bring the Lucid Air to market.

Electric carmaker Lucid Motors is reportedly taking a two-path approach to getting its 235 mph battery-powered supercar into production, seeking a new round of financing while also approaching Ford Motor Co. about a possible takeover.

The California-based start-up has said it needs to raise significantly more cash if it hopes to set up a $700 million assembly plant to put its exotic Lucid Air model into production. But Bloomberg news service is reporting Lucid also approached senior management at Ford about the opportunity for a sale.

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Ford has promised to rapidly increase its commitment to electrify its line-up over the next few years, committing $4.5 billion through 2020. But, according to Bloomberg, the Detroit automaker shot down the proposed sale, at least for now, while new CEO Jim Hackett moves forward on a broad review of Ford’s goals and strategy. (more…)

Volkswagen Challenges Tesla Model 3 Before It Hits the Streets

German maker says its I.D. model will be much less expensive.

by on Jul.17, 2017

Volkswagen says when its I.D. hits the market in two years, it'll be cheaper than its primary competitor, the Tesla Model 3.

It hasn’t even hit a dealershi, er, retail store yet, but the Tesla Model 3 is already generating a strong response from future competitors, including Volkswagen which said its mass-market model, the I.D., will be priced lower than the Tesla entry.

Production on the Model 3 began last week, which is supposed to be Tesla’s entry-level model at a base price of $35,000. However, once a few additions are made, the costs quickly escalate past $40,000 and closer to $50K, claim VW executives.

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The Golf-sized I.D. is expected to start at $27,000 and boast a range of 249 to 373 miles, depending upon different variables. It would come in at 168 horsepower. The Model 3 is expected to get about 215 miles to a full charge. (more…)

Britain No Shoe-in to Build New Mini EV

BMW mulling three sites in Europe, including England.

by on Jul.03, 2017

The impact of Brexit on the U.K. auto industry is getting its first test as BMW mulls where to build the Mini EV.

When Brexit passed, one of the concerns was how soon will it impact Britain’s auto industry … they’re about to find out.

BMW is in the process of selecting the plant to produce the new Mini EV. About 70% of all Mini’s are produced at the company’s plant in Oxford, England — about 360,000 vehicles annually — the fact that the plant wasn’t the default option has some concerned.

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For the record, BMW is measuring up three sites for the new vehicle, according to Reuters: the aforementioned Oxford plant, a plant in the Netherlands and its plants in Leipzig and Regensburg, Germany. (more…)

Tesla Autonomous Vehicle Chief Drives Off; Latest in a Series of High-Level Departures

But new AI researcher was waiting in the wings.

by on Jun.22, 2017

Chris Lattner, Tesla's director of artificial intelligence, just parted ways with the company.

Tesla has lost another senior manager, this time the head of its self-driving car program who joined the battery-electric automaker only six months ago.

But the departure of Chris Lattner, who had previously been working at Apple, isn’t expected to have more than a short-term impact, Tesla quickly announcing that it would assign some of Lattner’s duties to a new hire, prominent artificial intelligence, or AI researcher Andrej Karpathy.

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“Turns out that Tesla isn’t a good fit for me after all,” Lattner said in a tweet, prompting Tesla to fire back in a statement that, “Chris just wasn’t the right fit for Tesla and we’ve decided to make a change.” (more…)

BMW Taps Magna to Produce New 5 Series EV

Canadian supplier now builds EVs for two luxury makers.

by on Jun.20, 2017

BMW announced it has selected Magna to build its new 5 Series EV, the 530e. Magna will produce it at its plant in Graz, Austria.

BMW announced that its new plug-in hybrid, the 530e, will be built at Magna’s contract manufacturing plant in Graz, Austria, starting this summer.

Magna noted the decision by BMW to have the 530e built in Graz means that the Canadian company is now the manufacturing partner for two premium electrified vehicles – the BMW 530e and the Jaguar I-PACE.

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BMW’s decision to build the 530e in Graz isn’t exactly a surprise since Magna already builds the 5-Series for the German luxury carmaker at the manufacturing complex. (more…)

Tesla Looking to Make Move to India

Indian government may be looking to lure EV makers to the country.

by on Jun.15, 2017

Tesla CEO Elon Musk says the EV maker is in talks to sell vehicles and build a new plant in India.

The world seems to be Elon Musk’s oyster and he keeps finding pearls. The latest gem comes as the Tesla founder confirms that the company is in talks with the Indian government to sell and build vehicles in the country.

As is so often the case with Musk, he broke the news on Twitter, following another of dozens of requests from Indian tweeters asking him to bring his ever-expanding line-up of electric vehicles to the sub-continent.

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“In discussions with the government of India requesting temporary relief on import penalties/restrictions until a local factory is built,” he tweeted recently. (more…)

Tesla CEO Musk Says Superchargers Going Solar

Company expects to add 10,000 new stations by end of year.

by on Jun.12, 2017

Tesla is expanding its Supercharger network in the U.S. and, Musk recently tweeted, aims to convert them to using solar power.

As quickly as President Donald Trump ended U.S. involvement in the Paris Climate Treaty, automakers – and more than 100 other companies – with equal speed said they planned to continue meeting the goals of the treaty.

The move so upset Tesla founder and CEO Elon Musk that he resigned from a committee that advises the president on a variety of business matters. However, not long after, a Twitter follower of Musk’s called him out, implying his stance was a bit hypocritical.

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“Unfortunately I can stand at the Tesla superchargers and see the coal power plant. Play the shell game all you want these are coal powered,” wrote David Kennedy. (more…)

Musk Tells Shareholders Tesla Will Need “Possibly 10 or 20” Assembly Plants

To expand product line beyond three cars, company will need more space.

by on Jun.07, 2017

Tesla CEO Elon Musk told shareholders that the company may need 10 or 20 plants in the future.

With strong early demand for the Tesla Model 3 and still more new products in the pipeline, Tesla may need anywhere from three to “possibly as many as 10 or 20” new assembly plants, CEO Elon Musk told shareholders during an annual shareholders meeting that took on the air of a superstar love fest at times.

With shouts and applause for the charismatic company founder and entrepreneur, shareholders largely gave Musk what he wanted, among other things rejecting a pension fund proposal to make Tesla board members have to stand for re-election annually, rather than every three years. The issue of high worker injuries rates also came up, however, though a pending sex discrimination lawsuit was not a topic during the event’s question-and-answer session.

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The 2017 stockholders meeting comes at a critical time for Tesla. Though the company has turned a profit during only two quarters since going public, its share price has been soaring, buoyed by early expectations for the Model 3, its first mainstream model, which appears ready to go into production next month. (more…)