Interesting Car/Truck Manufacturer News

[Weather Man]

Tap into the pool of EV stupid money before its gone.

Polestar SPAC Gores Guggenheim surges after proxy filing overnight, EV excitement​

Nov. 12, 2021 3:54 PM ETGores Guggenheim, Inc. (GGPI)RIVN, LCIDBy: Joshua Fineman, SA News Editor33 Comments

Jan Hetfleisch/Getty Images News

• Gores Guggenheim Inc. (NASDAQ:GGPI), the SPAC that is taking electric car maker Polestar public, jumped 16% after the company filed its preliminary proxy last night and on general excitement for electric vehicles.
• Polestar, the global electric performance car company, signed an agreement in late September to be publicly listed through combination with Gores Guggenheim (GGPI), valuing the company at $20B. At the time, well-known SPAC investor Alec Gores, one of the backers of GGPI, said the SPAC deal represented a "great entry point" into Polestar because GGPI was conservative in its valuation.
• The move in GGPI also comes after Rivian Automotive (NASDAQ:RIVN) rose again today following its IPO earlier this week and has now gained 65% since its IPO. Rival electric car maker Lucid Group, which also went public through a SPAC deal, has risen about 83% since its de-spacing in late July. Lucid Group now sports a market cap of more than $65B.
• Earlier, What's in store for Lucid's first ever Q3 Earnings?

 

[Weather Man]

Toyota, Panasonic eye North Carolina site for battery plant - Bloomberg​

TM +0.71%Nov. 19, 2021 5:25 PM ET

• Toyota (NYSE:TM) plans to invest billions of dollars to build a battery plant in North Carolina, as part of its effort to ramp up production of electric vehicles in the U.S., Bloomberg reports.
• Toyota has not made a final decision, but it is expected to partner with Panasonic (OTCPKCRFY) in a facility near Greensboro, N.C., according to the report.
• The plant likely would be owned and operated through the two Japanese companies' Prime Planet Energy & Solutions battery joint venture.
• North Carolina Governor Roy Cooper signed a budget bill into law this week that includes an offer of $135M in state aid to an unspecified manufacturer interested in the Greensboro area and which will commit to invest at least $1B in private funds and create at least 1,750 jobs.
• Toyota announced in February that it will launch three all-electric vehicles in the U.S.

 

[Weather Man]

Ford F-150 Lightning Appears At Tesla's California Headquarters​

Mark Kane 50 mins ago

It was looking to play with the Tesla Cybertruck perhaps?​

A beautiful Rapid Red Ford F-150 Lightning on a sunny day, somewhere in California... but wait a minute. Isn't there a Tesla sign in the background?

Ford Doubles Its Global EV Projection To 600,000 Within 2 Years​

“The demand is so much higher than we expected.”​

Nov 18, 2021 at 4:37pm ET
67
By: Mark Kane


Ford is seriously accelerating its electrification plans due to the tremendous demand for already introduced or announced models.
Ford's CEO Jim Farley has revealed in a series of tweets (see below) and in an Automotive News interview that the company will double what it originally intended.

BEV production x2: 600,000/year by the end of 2023​

The global manufacturing capacity of battery-electric vehicles will be increased to 600,000 annually, within 24 months (by the end of 2023), which indicates that previously Ford was assuming production of 300,000 units annually.
That's an amazing move, and Jim Farley further explains that it's even before the newly announced plants in Tennessee and Kentucky will come online.

"We are now expecting to produce 600,000 EVs/yr globally by end of 2023. 2x our original plan.
And that’s BEFORE #BlueOvalCity & other EV sites come online."

Those numbers will include the Ford Mustang Mach-E, Ford E-Transit and Ford F-150 Lightning. Actually, we guess that some other models might join the party as well.

 

[Weather Man]

• Rivian (RIVN -2.7%) trades lower on a Teslarati report that the EV maker will delay future deliveries of its R1T all-electric pickup and R1S all-electric pickup SUV until 2022.
• Teslarati sources and members of the Rivian Owners Forum have received emails stating that their pre-ordered R1S SUVs won't be delivered until March 2022 or later, months behind the original projection date of January 2022. Some R1T pre-orders have also been delayed according to sources.
• The email did not mention the production start date for the R1S, which was supposed to be in December 2021 but may not be on track given the delays.
• The breakdown through an informal poll on the Rivian forum:

 

[CobraBob]

That's great news for Ford, regarding its EVs production. NOT great news from Rivian. Won't be long IMO before the big three dominate the EV industry.

 

[Weather Man]

That's great news for Ford, regarding its EVs production. NOT great news from Rivian. Won't be long IMO before the big three dominate the EV industry.

It will be interesting to watch the market shares shake out. The Chinese have so many makes, be interesting to see how many try and enter the American market.

 

[Weather Man]

Stellantis and Vulcan Energy inks lithium supply agreement​

STLA -5.49%Nov. 29, 2021 6:42 AM ET

• Vulcan Energy Resources (OTCPK:VULNF) to supply battery grade lithium hydroxide in Europe for use in electrified vehicles to the Stellantis Group (NYSE:STLA).
• Vulcan will supply a minimum of 81,000 metric tons and a maximum of 99,000 metric tons of lithium hydroxide over the five-year term of the agreement.
• Shipments to begin in 2026.
• Stellantis (STLA) plans to invest more than €30B through 2025 in electrification and software development, while targeting to continue to be 30% more efficient than the industry with respect to total Capex and R&D spend versus revenues.
• “Stellantis is moving forward on its electrification strategy with speed and power. This agreement is further proof that we have the competitive spirit to deliver on our commitments,” said Michelle Wen, Stellantis Chief Purchasing and Supply Chain Officer. “Safe, clean and affordable freedom of mobility represents a strong expectation of our societies and we are committed to deliver on that matter.”
• The company targets more than 70% of its vehicle sales in Europe and more than 40% of vehicle sales in the United States will be low emission vehicles by 2030.

Nissan to spend $17.6B over five years to ramp up electric vehicle production​

NSANY -3.55%Nov. 28, 2021 9:43 PM ET3 Comments

• Nissan (OTCPK:NSANY) unveils plans to spend ¥2T ($17.6B) over the next five years to electrify more of its lineup, and introduce 15 new electric vehicle models by FY 2030.
• In its Ambition 2030 strategy released today, Nissan says half of its vehicles sold will be powered at least partly by batteries by 2030.
• Working with partners including Renault and Mitsubishi, Nissan says it aims to increase its global battery production capacity to 52 GWh by 2026 and 130 GWh by 2030.
• Nissan's plans are similar to those outlined earlier this year by Ford, GM and Stellantis to achieve sales of 40%-50% of annual U.S. volumes of electric vehicles by 2030.

 

[Weather Man]

Hyundai's new look 2022 WRC car breaks cover​

Tom Howard 52 mins ago

Team boss Andrea Adamo confirmed last week that its latest version of its Rally1 hybrid i20 would look “a lot different” with only the wheels a carry over component from its prototype car that has conducted the bulk of testing thus far.

© Hyundai Hyundai i20 Rally1
Hyundai has been busily working on the car at its Alzenau base in Germany having elected to use a prototype mule to carry out its early test and development work of the new 100kW hybrid system.

The new i20 has now broken cover as part of a six-day test that is currently being conducted in the Alsace region in France.
Drivers Ott Tanak, Thierry Neuville and Oliver Solberg are on hand at the test, which has so far been conducted in snow and icy conditions.
The i20 is sporting significantly different bodywork compared to the prototype that recently completed a rally simulation in Northern Italy in October.
The rear wing is arguably the most noticeable change with the new version much more angular than the curved option used on the prototype. Likewise, the rear arches and bumper follow a similar angular design with the corners of the bumper no longer fitting flush and smooth beneath the rear lights.
Images released from the team also highlight a new air intake before the rear arch, while they the front end has also had an overhaul with a new front bumper and wheel arch bodywork.

© Autosport.com Hyundai i20 Rally1
Hyundai i20 Rally1
Photo by: Hyundai
Air intakes situated behind the rear window appear similar to the prototype while the wing mirrors have undergone a design overhaul.
Vision posted on social media has captured the car running off the road and into a snow bank, but this is understood to have caused only a minor stoppage.
Hyundai’s outing arrives after a busy week for WRC teams as rivals Toyota and M-Sport Ford conducted tests in France with its GR Yaris and Puma respectively.
Toyota was forced to cut its test short after Elfyn Evans was involved in crash that prevented Sebastien Ogier from receiving his maiden run in a Rally1 hybrid machine.
Meanwhile, nine-time WRC champion Sebastian Loeb jumped behind the wheel of the Puma for his second test as speculation continues regarding a possible return at the Monte Carlo Rally from 20-23 January.

 

[CobraBob]

Nissan Reveals Electric Pickup With Transparent Grill

The automaker has revealed an electric pickup concept, named Surf-Out, that incorporates a transparent "grille" in its design.

The Surf-Out is envisioned to be built on an vehicle platform being designed to use energy-dense, quick-charging solid state batteries it hopes to have in production by 2028.

The Nissan Surf-Out features one-pedal driving and floating seat backs. (Nissan)
The two-seat pickup features a cabin that opens to the bed, floating seatbacks, a single pedal for accelerating and braking, and a window in the body providing a forward view that's enabled by the entire powertrain being located beneath the beltline in a skateboard-style chassis.

 

[Weather Man]

If they don't allow hybrids for business owners, mayhem.​

​

Rivian's First Towing Efficiency Test Shows Big, but Manageable, Losses in Range​

© Provided by BenzingaRivian Automotive Inc (NASDAQ: RIVN) recently started deliveries of its long-anticipated R1T all-electric pickup truck. The company is the first to put into the market an all-electric pickup, which has an EPA estimated range of 314 miles. It can also tow up to 11,000 pounds.
But both of these specs can't be achieved simultaneously.

Drive Tesla Canada shares a Rivian R1T owner's test of the truck's towing abilities. Rivian says towing will reduce the range by about 50% on its website, but this tester found the range loss was a bit higher.
Towing is one of the most demanding tasks to ask of an electric vehicle. While the powerful torque will help get you going, the added weight and the increased aerodynamic drag will reduce the range significantly. Other factors such as elevation change, speed and weather will also affect range.
In testing, the R1T owners showed that at 37% battery remaining they had just 44 miles of electric range left. That would put their 100% range around 118 miles, or 62% less than EPA rated while not towing. This towing was also done at highway speeds. The testers expected to make a charging stop every 120 miles approximately, so the energy use was within their expectations.
While an abundance of chargers makes the owner's trip manageable, if an EV driver is looking to go far off the grid, they will need to keep their energy use in mind. Hauling extremely large items to the middle of nowhere may not be the best option unless charging is available along the way.

 

[Weather Man]

Stellantis finds partner for solid-state battery development​

STLA -1.24%Nov. 30, 2021 6:57 AM ET

• Stellantis (NYSE:STLA) says it inked a deal with Factorial Energy to jointly develop solid-state batteries for electric vehicles.
• The automaker says the agreement will advance Factorial's high-voltage traction solid-state battery technology and includes a strategic investment.
• Factorial is noted to have developed breakthrough solid-state technology that addresses the key issues of driving range and safety.
• “Our investment in Factorial and other highly recognized battery partners boosts the speed and agility needed to provide cutting-edge technology for our electric vehicle portfolio," notes Stellantis CEO Carlos Tavares.
• Earleir this year, Stellantis (STLA) announced a target of having the first competitive solid state battery technology introduced by 2026.
• Wall Street sentiment on Stellantis (STLA) is very bullish.

 

[CobraBob]

If they don't allow hybrids for business owners, mayhem.​

​

Rivian's First Towing Efficiency Test Shows Big, but Manageable, Losses in Range​

© Provided by BenzingaRivian Automotive Inc (NASDAQ: RIVN) recently started deliveries of its long-anticipated R1T all-electric pickup truck. The company is the first to put into the market an all-electric pickup, which has an EPA estimated range of 314 miles. It can also tow up to 11,000 pounds.
But both of these specs can't be achieved simultaneously.

Drive Tesla Canada shares a Rivian R1T owner's test of the truck's towing abilities. Rivian says towing will reduce the range by about 50% on its website, but this tester found the range loss was a bit higher.
Towing is one of the most demanding tasks to ask of an electric vehicle. While the powerful torque will help get you going, the added weight and the increased aerodynamic drag will reduce the range significantly. Other factors such as elevation change, speed and weather will also affect range.
In testing, the R1T owners showed that at 37% battery remaining they had just 44 miles of electric range left. That would put their 100% range around 118 miles, or 62% less than EPA rated while not towing. This towing was also done at highway speeds. The testers expected to make a charging stop every 120 miles approximately, so the energy use was within their expectations.
While an abundance of chargers makes the owner's trip manageable, if an EV driver is looking to go far off the grid, they will need to keep their energy use in mind. Hauling extremely large items to the middle of nowhere may not be the best option unless charging is available along the way.

I'm not at all surprised that range is greatly reduced when towing. Think about a simple laptop computer. The brighter the screen setting, the less life you get out of a charge. Brighten the keypad setting or leave it on all the time, and the charge life is reduced. The industry is going to have to find ways of overcoming this major obstacles in the long run. I would imagine that a max payload in the back of an electric pickup is going to cut into the range as well.

 

[Weather Man]

Nissan quietly revs up its electrification plans​

NSANY -2.38%Nov. 30, 2021 8:54 AM ET

• Nissan (OTCPK:NSANY) plans to launch 15 new electric vehicles by fiscal 2030 and is setting a target for 50% electrification of the company’s model lineup.
• JPMorgan says it is worth noting the comments made by Nissan on the cost roadmap for all-solid-state batteries, which management expecting to bring the cost of battery packs down to $75/kWh by FY2028 and then aim to finally bring it down to $65/kWh.
• "Few companies have talked about ASSB costs thus far, and we think attention will also focus on development progress. We feel that Nissan’s strategy for using its technological base is level-headed, and going forward we expect appraisal of the company to hinge on the effectiveness of its strategy."

 

[Weather Man]

By Joseph White

DETROIT (Reuters) - Stellantis NV Chief Executive Carlos Tavares said external pressure on automakers to accelerate the shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle to manage the higher costs of building EVs.

Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday.

"What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said.

"There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay."

Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe Electric vehicle transition puts 60,000 Italian jobs at risk, union says and North America United Auto Workers presses GM, Ford on unionizing battery plants have warned tens of thousands of jobs could be lost.

Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said.

Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm.

"Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said.

"The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits."

Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade.

Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from electric vehicle maker Tesla Inc and other pure electric vehicle startups such as Rivian.

The electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the Jeep SUV brand or the highly profitable Ram pickup truck franchise.

That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035. The United Kingdom has set 2030 as the deadline for going all-electric.

Tavares said governments should shift the focus of climate policy toward cleaning up the energy sector and developing electric-vehicle charging infrastructure.

Stellantis, created in 2021 with the merger of French automaker Peugeot SA and Italian-American automaker Fiat Chrysler NV, is on track to deliver 5 billion euros in cost reduction through streamlining its operations, Tavares said.

Tavares has accelerated Stellantis' electric vehicle development, committing 30 billion euros through 2025 to developing new electric vehicle architectures, building battery plants and investing in raw materials and new technology.

On Tuesday, Stellantis said it had invested in solid-state battery startup Factorial alongside German automaker Daimler AG.

"We can invest more and go deeper in the value chain," Tavares said. "There may be other (investments) in the near future."

 

[kazman]

"There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay."

And, there it is...

 

[Weather Man]

"There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay."

And, there it is...

Toyota is saying they will sell affordable EV's by making the battery smaller with less range to hit the price point.

The Japanese makes have all been slow with EV because they can't comprehend the Western green stupidity of the mandates.

 

[Weather Man]

Ford November US sales grow 5.9% as EV sales rise over 150%​

F +0.59%Now!

• Ford Motor Company (F +0.6%) reports 5.9% Y/Y U.S. sales growth for the month of November driven by a 20.8% increase in SUV sales and a 4.6% increase in truck sales. Car sales, which accounted for 2.4% of total vehicle sales this year and 7.4% in 2020, fell 65.9%.
• Electric vehicle sales at the company grew at 153.6%, a rate more than 3 times growth in the overall EV segment. Ford's EV market share now stands at 10% compared to 5.4% last year.
• For the month, Ford took in 74,000 new vehicle retail orders, up from 64,000 in November 2020.

 

[Rb0891]

If they don't allow hybrids for business owners, mayhem.​

​

Rivian's First Towing Efficiency Test Shows Big, but Manageable, Losses in Range​

© Provided by BenzingaRivian Automotive Inc (NASDAQ: RIVN) recently started deliveries of its long-anticipated R1T all-electric pickup truck. The company is the first to put into the market an all-electric pickup, which has an EPA estimated range of 314 miles. It can also tow up to 11,000 pounds.
But both of these specs can't be achieved simultaneously.

Drive Tesla Canada shares a Rivian R1T owner's test of the truck's towing abilities. Rivian says towing will reduce the range by about 50% on its website, but this tester found the range loss was a bit higher.
Towing is one of the most demanding tasks to ask of an electric vehicle. While the powerful torque will help get you going, the added weight and the increased aerodynamic drag will reduce the range significantly. Other factors such as elevation change, speed and weather will also affect range.
In testing, the R1T owners showed that at 37% battery remaining they had just 44 miles of electric range left. That would put their 100% range around 118 miles, or 62% less than EPA rated while not towing. This towing was also done at highway speeds. The testers expected to make a charging stop every 120 miles approximately, so the energy use was within their expectations.
While an abundance of chargers makes the owner's trip manageable, if an EV driver is looking to go far off the grid, they will need to keep their energy use in mind. Hauling extremely large items to the middle of nowhere may not be the best option unless charging is available along the way.

Now test it at 20 degress and let me know how it does...

 

[Weather Man]

You Can’t Order a Ford Maverick Hybrid Until Summer 2022​

By James Gilboy, The Drive 21 hrs ago

From day one, Ford was sure it had a hit on its hands with the 2022 Maverick. It projected it'd sell out of the launch year's 40+ mpg hybrid models in November, and it was right. Ford has confirmed to The Drive that all 2022 Maverick hybrids have been scooped up, and that order books are closed until the second half of next year.

 

[Weather Man]

• Ford says it has close to 200K retail reservations for the electric F-150 Lightning and has sold 22K Mach-E vehicles this year. Execs also exuded confidence on where it will be in the electric vehicle race, saying Ford (F) will be the number two electric vehicle maker in the world by volume in two years with annual production capacity of 600K units.
• Crucially, Ford (F) noted that it is in a "very strong" position with its chip supply heading into Q1 of 2022.
• Ford (F) said earlier this week that its electrified vehicle share rose to 10% in November compared to 5.4% last year.