The Porsche Newsroom is a service provided by the Porsche Communication for journalists, bloggers and the online community. © 2021 Dr. Ing. h.c. F. Porsche AG * Data determined in accordance with the measurement method required by law. Since 1 September 2017 certain new cars have been type approved in accordance with the Worldwide Harmonised Light Vehicles… Continue reading @VW Group: Porsche Taycan Cross Turismo hits the road002471
Category: Automotive
Samsung SDI Plans to Invest One Trillion KRW in Its Hungary Battery Plants This Year
Samsung SDI is set to invest $900 million (1 trillion KRW) in its battery plants this year. Its investment will be used to increase production capacity of its first electric vehicle (EV) battery plan Go to Source
@BMW: Clear design language meets creative use of space: The new MINI 5-door.000925
Munich. In the MINI premium small car model range, the new MINI 5 door is the prime example of how creatively space can be used in typical MINI style. The MINI 5 door combines characteristic driving fun and individual style with a large dose of functionality. Now, fresh design accents, the Multitone Roof, which is… Continue reading @BMW: Clear design language meets creative use of space: The new MINI 5-door.000925
Stellantis, citing global demand, laying off 150 at Jeep Cherokee plant
The Belvidere (Illinois) Assembly Plant, where the Jeep Cherokee SUV is made, is laying off 150 workers. Stellantis, the parent company of Jeep since the merger of Fiat Chrysler Automobiles and Peugeot maker PSA Group, confirmed the news Tuesday. “The Stellantis plant in Belvidere, Illinois, is rebalancing its staffing levels as it realigns production to meet… Continue reading Stellantis, citing global demand, laying off 150 at Jeep Cherokee plant
Magna International to open facility, invest $70.1M in St. Clair
A division of Magna International plans to open a facility in the city of St. Clair to build battery enclosures for the 2022 GMC Hummer electric pickup, which will be produced at General Motors’ Factory Zero in Detroit and Hamtramck, according to the office of Gov. Gretchen Whitmer. The $70.1 million investment is expected to… Continue reading Magna International to open facility, invest $70.1M in St. Clair
Lucid Motors is set to go public with a $24 billion valuation. It probably couldn’t have happened without billions in Saudi money.
Electric vehicle startup Lucid Motors plans to go public via SPAC at a $24 billion valuation. The company struggled for years before getting $1.3 billion from Saudi Arabia in 2019. The deal increases Saudi Arabia’s ownership stage from 67% to 85%. Visit the Business section of Insider for more stories. Somewhere out there, there’s a… Continue reading Lucid Motors is set to go public with a $24 billion valuation. It probably couldn’t have happened without billions in Saudi money.
Nikola could fall 30% as ‘ambitious’ profit forecasts and Tesla’s first-mover advantage weigh on valuation, CFRA analysts say (NKLA, TSLA)
Nikola truck prototype. Nikola CFRA analyst Garrett Nelson initiated coverage on EV maker Nikola with a “sell” rating and a $15 price target. The price target implies a nearly 30% drop from Monday’s closing price. Nelson said Nikola has “ambitious” profit forecasts and faces stiff competition from Tesla and others. Watch Nikola trade live here.… Continue reading Nikola could fall 30% as ‘ambitious’ profit forecasts and Tesla’s first-mover advantage weigh on valuation, CFRA analysts say (NKLA, TSLA)
USPS unveils next-generation mail truck with electric drivetrain option
The United States Postal Service (USPS) has revealed its new mail truck after a years-long competition. The new truck will be built by Wisconsin-based defense contractor Oshkosh and can be fitted with both gasoline and electric drivetrains. But it won’t hit the road until 2023. Oshkosh winning the contract is a potentially major blow to… Continue reading USPS unveils next-generation mail truck with electric drivetrain option
Archer Aviation aims to launch network of urban air taxis in Los Angeles by 2024
Archer Aviation, the electric aircraft startup that recently announced a deal to go public via a merger with a blank-check company, plans to launch a network of its urban air taxis in Los Angeles by 2024. The announcement comes two months after the formation of the Urban Air Mobility Partnership, a one-year initiative between Los… Continue reading Archer Aviation aims to launch network of urban air taxis in Los Angeles by 2024
ChargeLab raises seed capital to be the software provider powering EV charging infrastructure
As money floods into the electric vehicle market a number of small companies are trying to stake their claim as the go-to provider of charging infrastructure. These companies are developing proprietary ecosystems that work for their own equipment but don’t interoperate. ChargeLab, which has raised $4.3 million in seed financing led by Construct Capital and… Continue reading ChargeLab raises seed capital to be the software provider powering EV charging infrastructure