FridayJun 30, 2023 11:01 am

Aston Martin Taps Lucid for EV Components in New Deal

Aston Martin and Lucid Motors have agreed to begin producing electric cars with the highest levels of elegance and performance by 2025. The British automaker will create luxurious, great-performing electric vehicles using Lucid components. The London-listed luxury manufacturer, which saw its losses more than double in 2022 to nearly £500 million ($631m), has reached an agreement worth £182 million ($229.7 million) in shares and cash whereby Lucid will acquire 3.7% ownership in Aston Martin. Aston Martin delivered 6,400 high-end automobiles in 2022 and has made significant investments in more recent models. The automaker announced that it would choose Lucid Motors’s…

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ThursdayJun 29, 2023 10:51 am

Rivian Announces Switch to Tesla’s NACS Chargers

Earlier this week, Amazon-backed Rivian Automotive Inc. (NASDAQ: RIVN), a manufacturer of electric pickup trucks and SUVs, announced that it is going to embrace Tesla's electric vehicle charging system (NACS), following General Motors and Ford in doing so. According to Rivian, beginning in 2025, it will begin constructing its R1S SUV and R1T truck with charging plugs using the NACS design. Its smaller cars are also going to include charging connectors inspired by Tesla. By spring 2024, owners of Rivian vehicles will be allowed to make use of adapters while accessing the Tesla Supercharging system, which has more than 12,000 quick-charging…

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WednesdayJun 28, 2023 2:24 pm

Fisker Inc. Receives Best 2023 EV Award

Fisker Inc. (NYSE: FSR) revealed that it would be attending the Red Dot Design Award Gala to accept the prestigious honor of Best EV for 2023. The renowned Red Dot Product Design Award for 2023's Best Electric Car was given to Fisker. The Red Dot Design Award, which was presented for the first time in 1955, is among the most coveted symbols of excellent design on a global scale. Only products that exhibit exceptional design are given this sought-after seal of quality by the worldwide jury. Fisker presented its renowned electric SUV in the international competition where it was then…

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TuesdayJun 27, 2023 12:15 pm

Nio Raises $700M-Plus from Investors in Abu Dhabi

Nio Inc. (NYSE: NIO), an electric vehicle company in China, made a recent announcement that CYVN, a fund controlled by the government of Abu Dhabi, has invested $738.5 million in the company in an effort to improve the financial position of Nio amid a period of fierce price competition in the market, which has caused price-conscious investors to switch to less expensive versions. Nio, along with Li Auto and Xpeng, are some of the companies attempting to seize a greater market for electric vehicles in the largest automobile market in the world, which is controlled by the BYD company. According…

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MondayJun 26, 2023 12:04 pm

Giga Lab Demonstrates How Tesla Makes EVs in China

Tesla inaugurated its Shanghai Giga Lab, the first of its kind. During the opening, robots and craftspeople demonstrated for guests how the company's electric cars are made in about 45 seconds. The Giga Lab, which is currently accessible to everyone, is positioned to continue the production and exhibition-style practices of its global siblings, including the Berlin-based Giga Factory. The interior of the Giga Lab is gray and made of steel, using a basic and subdued design language to highlight the spacious space. It’s modeled after the Gigafactory in Shanghai. Tesla Asia has confirmed on Twitter that visitors can buy Tesla electric vehicles at the Giga Lab…

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FridayJun 23, 2023 10:13 am

Despite Critical Minerals Agreement with US, Japan Lags in EV Race

An agreement on vital minerals between the United States and Japan was inked in Tokyo last March, ensuring both nations' commitment to bolster supply chains and advance the technology of electric vehicle batteries. In particular, the agreement enables Japanese minerals to satisfy the sourcing standards for the United States EV tax subsidies, enabling a maximum of $7,500 for each vehicle. Despite the agreement, Eurasia Group’s David Boling, director of Japan and Asia trade, remarked that if Japan and its car manufacturers wish to play a significant role in the field of electric vehicles, they need to catch up on a…

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ThursdayJun 22, 2023 11:22 am

Fords Says US Isn’t Ready for EV Market Fight with China

Ford's top honcho has issued a warning that the United States is not ready to fight with China over the production of electric vehicles. The chairman of Ford, Bill Ford, said that the company is now mobilizing all resources to prepare for an influx of imports from abroad. He also mentioned how swiftly the electric vehicle market in China had expanded. Ford asserted that Chinese automakers created electric vehicles quickly and on a massive scale, and are currently offering the vehicles for export. With international sales of Chinese-made cars increasing threefold from 2020, reaching more than 2.5 million vehicles in…

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WednesdayJun 21, 2023 11:24 am

Toyota to Build EVs with Stick Shifts

Toyota is getting ready to unveil an electric car that mimics a manual gearbox, complete with a false clutch, stick shift and rev-matching sounds. A manual electric automobile would only be a spectacle since electric vehicles do not have gearshifts. However, Toyota is forging ahead with efforts to provide an amazing experience while gunning for enthusiasts who love gasoline-powered vehicles. According to Takero Kato, president of BEV Facility, Toyota will offer its consumers a genuinely amazing experience as well as an enhanced driving range and a stylish appearance. Stick-shift cars with manual gearboxes were previously common, although they are becoming…

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TuesdayJun 20, 2023 11:51 am

Tesla’s EV Chargers Muscling Out the Feds’ Preferred Standard

The nascent electric vehicle industry has been at a crossroads regarding which charging system standard to follow. The recent decision by General Motors (GM) and Ford to team up with Tesla and use its Supercharger network for their vehicles looks to have tipped the scales decidedly in favor of the connector standard used by Tesla. In recent years, there have been discussions about the adoption of a single standard so that all vehicles on North American roads can use any accessible charging point to top up battery power. Tesla has its own system, the NACS, and all its chargers adhere…

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FridayJun 16, 2023 12:39 pm

Toyota Shares Climb 5% on News of Company’s Next-Gen EVs

Toyota recently stated that starting in 2026, a full array of battery-powered vehicles will be available using its newest battery technology; the news sent the shares of the company up 5%. BEV Facility, a brand-new EV entity that was founded in May by Toyota, will design and produce these vehicles. Takero Kato, the head of BEV Factory, stated during a recent presentation that Toyota wants its electric vehicles to have a 1,000-kilometer range. By 2030, he claimed, the factory hopes to build around 1.7 million vehicles. By 2026, Toyota wants to sell 1.5 million units of fully electric cars annually,…

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