Elon Musk joined the mayor of Shanghai and other local government officials for a ground-breaking ceremony at the site of Tesla’s new Chinese plant. Tesla plans to invest around $2 billion in the facility, which is expected to have a capacity of about 500,000 vehicles per year. The company hopes to finish initial construction this… Read more »
Toyota has got the hybrid powertrain down pat. Having honed its hybrid technology over the last 22 years of building the Prius, which has sold over 10 million units and is now in its 4th generation, the Japanese giant now offers seven different hybrid models, and its luxury brand Lexus offers six more. Charged recently… Read more »
Workhorse Group (NASDAQ: WKHS), which manufactures electric delivery vans for UPS, FedEx and other fleet operators, has secured $35 million in new financing from Marathon Asset Management. Workhorse will use the proceeds to repay a July 2018 round of senior secured notes, and to acquire parts to fulfill customer orders. Marathon will provide the funds… Read more »
Generous subsidies have helped China to become by far the world’s largest EV market. However, the government has begun to phase out the incentives – EV subsidies are expected to be substantially reduced in 2019, and eliminated completely in 2020. “Next year’s subsidies will likely be reduced by approximately 30% compared with this year,” a… Read more »
Tesla announced production and delivery figures for the fourth quarter of 2018, and simultaneously announced that it would reduce the prices of all vehicles by $2,000 in order to compensate for the reduction of the federal tax credit for EV purchases. “In Q4, we produced and delivered at the rate of nearly 1,000 vehicles per… Read more »
Solaris Bus & Coach has secured an order of 21 electric buses from transit operator MPK in its home city of Poznań, Poland. The 15 articulated and 6 standard length buses are to be delivered by February 2020 at a total price of around 70 million złoty ($18.5 million). The new buses will be fitted… Read more »
The sedan (or saloon, as our British friends call it), which has been the standard form factor for passenger cars for a century, now seems to be a dying breed, as SUVs and crossovers take over the market. Consumers love the extra space and increased ride height of an SUV, and automakers love the higher… Read more »
Scania and waste handling company Renova are developing a fuel cell garbage truck with a fully electrified powertrain and compactor. Developed in partnership with the Swedish Energy Agency and Stockholm’s Royal Institute of Technology, the truck is expected to be delivered by 2020. Scania previously announced delivery of four fuel cell distribution trucks with ranges… Read more »
To support its goal of electrifying the entire Mercedes portfolio by 2022, Daimler plans to invest more than €20 billion ($23 billion) in battery cells by 2030. The company will also invest €10 billion in expanding the Mercedes-Benz electric fleet and €1 billion in its global battery production network. Daimler currently has battery supply deals… Read more »
It appears that Hyundai will be the next brand to join the 200-mile club. The Korean carmaker has announced the starting price for its 2019 Kona Electric crossover. The base model will start at $37,495 including delivery. Pricing for other Kona Electric trims are to be announced shortly. A single electric motor powers the Kona… Read more »