Volvo has announced its EX90 electric flagship SUV will be delayed. The company made the announcement on Thursday, stating the upcoming EV “is a very exciting and important car for Volvo Cars, representing the start of a new era for the company and introduces a new generation of technology – hardware and software.” As for […]
Electric vehicle automaker Rivian announced on Tuesday a first-quarter loss that was less than anticipated. After the announcement, Rivian’s stock is now up 5.7% in after-hours trading. As per consensus estimates by Refinitiv, Rivian’s adjusted loss per share for this quarter was $1.25, better than the expected $1.59. The company also surpassed projected revenue, with […]
Electric vehicle maker Lucid Group announced widening losses for Q1 2023 but confirmed that it has enough cash to continue operations into 2024. The news resulted in shares dropping over 8% in after-hours trading. “We are on track to produce over 10,000 vehicles in 2023, with company-wide initiatives ongoing that will enable Lucid to pivot […]
Ford announced on Wednesday that it is once again reducing prices on its battery-electric crossover, the Mustang Mach-E, by up to $4,000 USD. This move comes as an electric vehicle (EV) price war appears to be brewing, with the Dearborn automaker responding to aggressive price cuts by EV market leader Tesla. The lowest-priced model, the […]
Samsung SDI and General Motors (GM) have announced plans to establish a joint venture (JV) for the production of battery cells for electric vehicles (EVs) in the United States. The companies intend to invest over $3 billion in the JV, which will have an annual production capacity of more than 30 gigawatt-hours. Mass production is […]
Lucid Group has announced that their upcoming Lucid Gravity electric SUV is advancing to its latest phase of development and testing. Building on the success of the Lucid Air, the Gravity SUV is now undergoing public road tests across the U.S. “I am excited to see the Gravity SUV moving forward so quickly in its […]
Summary: GM plans to cease production of Chevrolet Bolt EV and EUV models by the end of 2023. The Detroit plant will be retooled to prepare for electric Chevy Silverado and GMC Sierra truck production in 2024. GM aims for a production capacity of 1 million EVs annually in the U.S. and China to compete […]
Volkswagen is taking a significant step forward in its electric vehicle strategy in North America, announcing the construction of its largest gigafactory to date in St. Thomas, Ontario, Canada. With a planned investment of up to €4.8 billion / CAD$7 billion by 2030, the facility will have an annual production capacity of up to 90 […]
Summary: Honda debuted two prototypes, the e:NP2 and e:NS2, and a concept model, the e:N SUV 序, at Auto Shanghai 2023, as part of its e:N Series EV lineup. The automaker aims for 100% EV sales in China by 2035, with plans to introduce 10 Honda-brand EV models in the country by 2027. The new […]
Summary: Rivian plans to open its growing EV charging network to the public as early as next year. The company aims to build a network of 600 charging stations within two years across the US and Canada. Rivian could receive government funds starting in 2024 to expand its charging network, provided its chargers are open […]
Mini, the British compact car maker owned by BMW, is considering producing electric vehicles (EVs) in North America to expand its cost-competitive offerings in the United States. According to sources familiar with the plans, a Mini electric crossover could go into production at BMW’s central Mexico factory in the second half of the decade, reports […]
Summary: Polestar has unveiled its latest model, the Polestar 4, an electric performance SUV coupe. The car features a unique design that eliminates the rear window to create an immersive rear occupant experience and maximizes aerodynamic efficiency. The Polestar 4 is built on the Sustainable Experience Architecture (SEA) developed by Geely Holding, has a maximum […]
Summary: Volkswagen reveals electric ID.7 with 700 km range. ID.7 includes efficient drive and advanced features. Launching in Europe and China in 2023, North America in 2024. Volkswagen has unveiled the ID.7, the brand’s first all-electric model for the upper mid-size class, boasting a combination of excellent aerodynamics, a new efficient drive generation, and an […]
Lucid Group, the maker of the Lucid Air electric sedan, has announced its production and delivery figures for Q1 of 2023, which ended on March 31, 2023. The company produced 2,314 vehicles and delivered 1,406 during the quarter, according to a press release on Thursday afternoon. Compared to Q1 2022, Lucid delivered 360 vehicles. So […]
Summary: Hyundai Motor Group plans to invest KRW 24 trillion in the EV sector to become one of the top 3 global EV manufacturers by 2030 The investment will increase annual EV production in Korea to 1.51 million units and worldwide to 3.64 million units by 2030 The Group will have a total lineup of […]
