In updated securities filings dated Friday, Rivian increased the price range for the 135 million shares it will be offering during its IPO from $57-62 USD to $72-74 USD — reports CNBC. Taking the new price range into account, and assuming underwriters exercise their option to purchase an additional 20.25 million shares, the electric vehicle (EV) […]
Apple has hired former Tesla engineer Christopher “CJ” Moore for its self-driving car project, reports Bloomberg. According to sources familiar with the matter, Moore is working on Apple’s car project software, reporting to Stuart Bowers, a former Tesla executive that joined the iPhone maker at the end of 2020. Prior to working at Tesla, Bowers […]
While Hyundai released specs and pricing for its IONIQ 5 electric vehicle for the U.S. (EV) earlier this year, the company has officially revealed its pricing tiers for the Canadian market. Hyundai has released the 2022 IONIQ 5 electric SUV’s pricing, starting at a retail price of $44,999 CAD for the Essential variant, which offers […]
Folowing the Lucid Air Dream Edition delivery event that took place at the end of last month, the company has officially shared plans to open a new retail location as soon as this weekend. Lucid Motors is opening a new retail location, called a Studio, at Tyson’s Corner Center in Washington D.C. metro region, according […]
Tesla’s 4680 battery cell is expected to lower costs and increase range for the automaker, but as far as a breakthrough goes, one electric vehicle (EV) CEO suggests that it’s being overstated. Lucid Motors CEO Peter Rawlinson noted that, while there are a few advantages to Tesla’s 4680 battery cell design, it’s not the breakthrough […]
A London, England resident shared plans to open an electric vehicle (EV) factory in Canada, and has presented an ambitious timeline for getting the job done. On Tuesday, Faruk Rama, Chairperson of Trouve Victory Inc., announced he’s making a deal for roughly 50 hectares of land east of Toronto, expecting to build an assembly plant […]
San Francisco-based self-driving car service, Cruise, has shared a video of its first driverless car pickup in San Francisco, California. On Wednesday, Kyle Vogt, co-founder, president and CTO at Cruise, detailed being the first passenger to be picked up by a driverless Cruise vehicle, which occurred on Monday night. “Earlier this week, I requested a […]
As competition amongst electric vehicle (EV) companies continues to increase in the world’s largest auto market, Warren Buffett-backed BYD is seeing its sales grow. BYD sales tripled year over year in China in October, alongside the likes of Xpeng Motors which also saw its October sales triple year over year, according to Investors. Li Auto […]
As Ford and Amazon-backed Rivian has planned for an initial public offering (IPO) of around $50 billion USD since February, the company has officially announced plans to offer up shares, expected to outsell the initial estimates. Rivian is shooting for a target of $54.6 billion USD in market valuation for its upcoming IPO, offering 135 […]
BYD was outselling rivals in China early this year, and as competition in the region increases, the company is apparently looking to boost its cash flow. On Friday after market close, BYD entered into a placing agreement to offer 50 million shares of the company’s stocks in Hong Kong, according to CNEVPost. With the shares priced […]
Earlier this week, Lucid Motors confirmed the first Lucid Air deliveries for October 30 at a special “Lucid Owners Club rally” in California. On Saturday, the first 65 production units of the Lucid Air Dream Edition were handed off to the electric vehicle (EV) startup’s earliest customers, as well as company insiders like Chief Engineer […]
In a filing with the Securities and Exchange Commission (SEC) on Friday, Amazon disclosed a sizable stake in electric vehicle (EV) startup Rivian — reports CNBC. As of September 30, Amazon holds equity investments “including preferred stock of Rivian Automotive, Inc. representing an approximately 20% ownership interest” that is valued at $3.8 billion USD, reads […]
Following Toyota’s announcement of the bZ4X concept earlier this year, the company has officially released specs and other details about the upcoming bZ line of electric vehicles (EVs). Toyota announced the all-electric bZ4X production model, set to launch globally in mid-2022 according to a press release shared on Thursday. The bZ4X is set to be […]
After U.S. Democrats proposed an electric vehicle (EV) tax credit increase to $12,500 USD last month, it appears the proposal has made it into President Joe Biden’s Build Back Better plan, as congressional Democrats come to an agreement with the White House. The White House announced the almost $2 million USD social spending plan on […]
General Motors (GM) plans to up the ante in the overall electric vehicle (EV) market, and the company’s head believes they can upend Tesla as soon as 2025, according to new statements from the CEO. GM CEO Mary Barra said on Wednesday that the company can “absolutely” catch Tesla in U.S. EV sales by 2025, […]
