Chinese automaker Xpeng is the most recent of a string of EV-makers to launch a headline-grabbing IPO. The company’s US stock-market debut (NYSE: XPEV) raised $1.5 billion off the bat, and the stock posted healthy gains on its first day. However, as John Voelcker writes in The Drive, the exploits of Xpeng and its Chinese… Read more »
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Take that, Coronavirus! Polestar begins production of its EV in China
As auto plants around the world shut down or shift to producing ventilators, Polestar, the performance EV brand owned by Volvo (which is in turn owned by Geely), announced that production of the Polestar 2 would begin this week at its plant in Luqiao, China. The company is taking stringent health precautions: at the factory,… Read more »
NCM cathodes making headway in EV market
In April 2019, 6.7 GWh of battery capacity was deployed globally in newly-sold passenger BEVs, PHEVs and hybrids – an increase of 69% year-over-year, according to Adamas Intelligence’s EV Battery Capacity and Battery Metals Tracker. Among the NCM cathode family, NCM 622 saw a surge in deployment (in GWh) year-over-year, up 247% in April 2019… Read more »
Global automakers planning to invest over $300 billion in electrification
Global automakers are planning an unprecedented level of investment to develop electrified vehicles and procure batteries over the next five to 10 years, according to a Reuters analysis of public data. Carmakers have announced plans to spend at least $300 billion on electrification projects. The lion’s share – some $136 billion – will be directed… Read more »
China curtails building of new ICE vehicle factories
In September 2017, a top Chinese official said that the country would set a deadline for automakers to end sales of fossil-fuel vehicles in the country. No details were announced, and we’ve heard little about the plan since. Now, China has implemented new rules that seem to make it almost impossible for automakers to invest… Read more »
All Volvos to have electric motors from 2019
Volvo Cars has announced that, beginning in 2019, every one of its models will have an electric motor, making it the first legacy automaker to phase out ICE-only vehicles. In the future, Volvo will offer only three powertrains: pure electric, plug-in hybrid, and mild hybrid, which uses a battery to store energy from regen, or… Read more »
London Taxi opens plant to build plug-in taxis
The London Taxi Company (LTC) has opened a new plant to produce what it says is the world’s first purpose-built, mass-market plug-in taxi. LTC, a subsidiary of Chinese automaker Geely, has invested £300 million ($374 million) in the next-generation London taxi, which will be produced at the plant in Ansty, Coventry, and exported around the… Read more »
Tier 1 supplier Rheinmetall expects electrification to account for half of sales in 2020
Image: Rheinmetall Automotive’s electrical coolant pump Germany’s Rheinmetall Automotive is known as a supplier of hard parts (pistons, blocks, cylinder heads, etc.) and mechatronics. However, CEO Horst Binnig says that “products with a cable” already constitute 40% of total sales. “We really see pure e-mobility more as an opportunity than a risk. The percentage of purely… Read more »
China logs record EV sales, Tesla top foreign brand
Plug-in sales in China are going wild – annual sales for 2016 are expected to exceed 350,000. The country now has the largest plug-in fleet in the world: over 650,000 vehicles, surpassing Europe (630,000) and the US (560,000). Upcoming changes to government incentive programs contributed to a sales surge for small EVs in November. The… Read more »
London Black Cabs raises $400 Million to develop PHEV taxi
London’s famous red buses are slowly but steadily going electric, and its iconic black cabs could eventually follow suit. Zhejiang Geely, owner of the London Taxi Company, which builds the boxy black beauties, has raised $400 million to finance the development of the TX5, a plug-in hybrid version of the classic 1958 FX4, according to… Read more »