Should we pity the poor short sellers, who just lost a cool billion bucks in one day, and over 5 billion so far this year, according to S3 Analytics (via CNBC)? Nah – they should have heeded the old adage about repeatedly doing the same thing and expecting different results. Tesla announced a second straight… Read more »
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Lincoln and Rivian confirm partnership to develop new EV
Ford subsidiary Lincoln has formally confirmed that it is working with Rivian to develop a new EV – the partnership was announced last November when Ford invested $500 million in the EV startup. Lincoln’s first fully electric vehicle will join the Aviator and Corsair Grand Touring PHEVs in the brand’s plug-in lineup. The new EV… Read more »
GROB invests in new EV motor production facility
German machine and tool manufacturer GROB says that it spent more than four years of intense R&D to established itself as a leading technical expert in the manufacture of electric powertrain systems. The GROB product portfolio now ranges from the complex stator, rotor and electrical machine assembly systems to complete electrical axle assembly systems. The… Read more »
Sandy Munro says the Tesla Cybertruck’s unorthodox design makes it cheap to manufacture
Sandy Munro, the auto manufacturing expert who delivered some detailed insights about Tesla’s manufacturing strengths and weaknesses after tearing down a Tesla Model 3, recently made some comments about the upcoming Cybertruck. Of course, Munro hasn’t gotten his hands on an actual Cybertruck (as far as we know, Jay Leno is the first non-employee to… Read more »
Battery pack prices continue plummeting towards price parity with ICE vehicles
If you drove an EV back in 2010, it’s likely that you paid an average of about $1,100 per kilowatt-hour for your battery pack. By the end of 2019 this figure had fallen a full 87%, to $156 per kWh. According to BloombergNEF’s 2019 Battery Price Survey, the average price by 2023 will be approximately… Read more »
DOE announces Energy Storage Grand Challenge
The DOE recently launched the Energy Storage Grand Challenge, which will focus on the development of new energy-storage technologies. It’s part of the $158-million Advanced Energy Storage Initiative proposed in the 2020 federal budget’. The aim of the project is to develop a secure domestic manufacturing supply chain that is independent of foreign sources of… Read more »
Mercedes-Benz and Geely register smart Automobile Co. joint venture in China
Automotive powerhouses Mercedes-Benz and Geely have formally established the global joint venture “smart Automobile Co., Ltd.” for the smart brand. Each company will contribute 2.7 billion RMB in capital. The new JV, headquartered in Hangzhou Bay, China, will design the new vehicles using the Mercedes-Benz Design network, while Geely Holding will be responsible for development… Read more »
BMW revamps battery materials supply chain, signs supply contract for raw lithium
BMW Group has signed a €540-million contract with China’s Ganfeng Lithium for the supply of raw lithium from mines in Australia. The carmaker has restructured its supply chains for its upcoming fifth generation of battery cells. From 2020 on, it will directly source both lithium and cobalt. The raw materials will then pass on to… Read more »
Volkswagen acquires 20% of Chinese battery maker Guoxuan
Volkswagen plans to acquire 20% of Chinese battery maker Guoxuan, Reuters reports, accelerating the German giant’s foray into China’s growing EV market. At current prices, the 20% stake would be worth about $560 million. Volkswagen is currently the top foreign automaker in China, and has set a goal of selling 1.5 million new energy vehicles… Read more »
Hyundai and Kia invest in UK EV startup Arrival, will develop EVs together
Hyundai and Kia plan to invest €100 million ($111 million) in UK-based Arrival, and to work with the EV startup to develop new vehicles. Arrival has sold its electric delivery trucks, which are native EVs – not conversions of ICE vehicles – to the Royal Mail and UPS. “Arrival, Hyundai, and Kia will use Arrival’s… Read more »
