According to the parliamentary budget officer, Canada’s exclusive contract with Volkswagen, for the establishment of an electric-vehicle battery plant in southwestern Ontario, will cost the federal government an estimated $16.3 billion over the next decade. This figure surpasses the government’s initial projections, which accounted for a $700 million capital investment and up to $13.2 billion […]
Swedish electric performance car brand, Polestar, announced significant updates to its 2024 Polestar 2 model today, while releasing Canadian pricing for this model year. With enhanced performance, new motors, and a variety of standard equipment, the upgraded versions are set to start deliveries in the summer of 2023. The updated Polestar 2 Long range Single […]
Toyota has announced its plans to launch a suite of high-performing battery technologies by 2026. The automotive giant is focusing on developing an advanced square battery that would increase the cruising range of the next-generation Battery Electric Vehicle (BEV) to an impressive 1,000 km. The battery is being hailed as the heart of the BEV, […]
Shanghai-based electric vehicle maker, NIO, is shifting gears in its marketing strategy with significant price reductions and significant changes to its service offerings, in a strategic move to bolster sales. From June 12, the starting prices for all new NIO models will see a reduction of RMB 30,000 yuan ($4,200). However, the previously free battery […]
Tesla, under the leadership of Elon Musk, could potentially garner earnings as high as $3 billion by the end of the decade, leveraging its charging network agreements with automotive giants Ford and General Motors. The projection comes from an analysis conducted by Piper Sandler, reports Bloomberg. The most recent agreement was announced on Thursday in […]
In a commitment to standardizing electric vehicle (EV) charging, General Motors announced today it plans to integrate Tesla’s North American Charging Standard (NACS) into its EV designs from 2025. This move comes as part of a collaboration with Tesla, which will also allow GM EV drivers to access Tesla’s extensive Supercharger network from early 2024. […]
Volvo has debuted its compact SUV, the all-electric EX30, promising to deliver the brand’s trademark safety and Scandinavian sophistication, while also promising the smallest carbon footprint of any Volvo to date. The announcement was made at a global unveiling in Milan, Italy. The EX30 is a first-of-its-kind small premium SUV in Volvo’s lineup, reflecting the […]
Today, Polestar released its latest over-the-air (OTA) software update, P2.9, to all existing Polestar 2 vehicles. This marks the fifteenth OTA software enhancement for Polestar 2 since 2020. The upgrade comes with a host of advancements, including the addition of the YouTube app, which will also come pre-installed in all future vehicles. This feature, however, […]
Lucid Group, Inc. has officially declared the start of a public offering of 173,544,948 shares of its common stock today, May 31, 2023. This move by Lucid Group is set to raise around $3.0 billion in gross proceeds. BofA Securities, Inc. will serve as the book-running manager for this offering. The shares will be available […]
In what looks to be a surprise move, Ford announced today that it has reached an agreement with Tesla, granting Ford electric vehicle (EV) customers access to over 12,000 Tesla Superchargers across the U.S. and Canada. This move, set to take effect in early 2024, will effectively double the number of fast-chargers available to Ford […]
Chinese electric vehicle (EV) manufacturer XPeng has reported a significant drop in sales for the first quarter of 2023. The company’s revenue for the quarter was RMB 4.03 billion ($590 million), marking a staggering 45.9% decrease compared to the same period last year, and a 21.5% sequential decrease from Q4 2022. The company’s net loss […]
Ford CEO Jim Farley has revealed exciting details about the company’s electric vehicle (EV) initiatives during a Capital Markets day for investors. The highlight of the presentation was the unveiling of a new battery-electric three-row SUV set to launch in 2025. This vehicle will be the people-hauler sibling of the successor to the F-150 Lightning, […]
Bridgestone has made a significant leap in the electric vehicle (EV) market with the global launch of its Turanza EV grand touring tire. This tire is specifically designed for premium electric vehicles, and is the first replacement tire from the company to feature the revolutionary Bridgestone ENLITEN technology. The Turanza EV tire, which is now […]
Stellantis has abruptly ceased construction on certain segments of its planned electric vehicle (EV) battery factory in Windsor, Ontario, Canada. The automotive manufacturer announced on Monday that the halt comes in response to a conflict with the Canadian federal government over financial assistance. The automotive giant accuses Ottawa of failing to deliver on a previously […]
Swedish electric automaker, Polestar, has announced a delay in the production of its Polestar 3 model, now expected to begin in the first quarter of 2024. The decision comes in light of necessary additional time for final software development on the new all-electric platform shared by Volvo Cars. Earlier today, Volvo announced it would be […]
