General Motors sold its stake in Lordstown Motors, an electric vehicle startup that has struggled to get its first vehicle, the electric pickup truck Endurance, to production, reports the Detroit Free Press. GM’s 7.5 million shares of common stock, which was less than 5% of the company, had an initial equity value of $75 million.… Continue reading Struggling EV startup Lordstown Motors loses GM as investor
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Tesla unveils Supercharger station built in only 8 days thanks to new pre-fabricated system
Tesla has released footage unveiling its pre-fabricated system to deploy new Supercharger stations in record time. This new one in Florida was built in just over a week. Tesla is currently growing its Supercharger network at an impressive rate. The automaker went from 23,277 Superchargers at 2,564 stations at the end of 2020 to 31,498… Continue reading Tesla unveils Supercharger station built in only 8 days thanks to new pre-fabricated system
Elon Musk and Tesla need a Tim Cook
The same story has played out for decades. A startup blossoms and thrives under the leadership of a larger-than-life personality. A plateau soon follows. The company’s focus moves from introducing an endless string of new products to making sure what it is building meets the demands of customers. The honeymoon period ends and a new… Continue reading Elon Musk and Tesla need a Tim Cook
Waymo to begin charging for robotaxi rides in San Francisco
Waymo, the self-driving unit of Alphabet, has scored a permit with the California Public Utilities Commission that allows it to charge riders for ride-hailing trips in its autonomous vehicles in San Francisco. A human safety operator must be present, though, per the permit’s stipulations. Securing this permit from the California Public Utilities Commission (CPUC) is… Continue reading Waymo to begin charging for robotaxi rides in San Francisco
New Tesla Cybertruck prototype spotted with bed cover
A new Tesla Cybertruck prototype has been spotted at Tesla’s Fremont factory, and it featured a bed cover – something that was missing in other recently spotted prototypes. We expected to get an update about the Cybertruck as part of a product roadmap CEO Elon Musk had said he would release as part of the… Continue reading New Tesla Cybertruck prototype spotted with bed cover
Lucid rolls back production goals even as demand for luxury EV rises
Earnings season rolled along today with notes from Lucid Motors’ fourth-quarter results. The company, like other electric vehicle (EV) companies, is nascent in revenue terms, albeit further along than some. The company publicly debuted as a SPAC company in July last year after merging with Churchill Capital IV. The company’s value has had a turbulent… Continue reading Lucid rolls back production goals even as demand for luxury EV rises
Lucid Motors says it expects to make fewer EVs in 2022 than it originally planned
Luxury electric vehicle maker Lucid Motors is slashing its production forecast for 2022, citing supply chain constraints. The Newark, California-based company announced it was revising down its production expectations to 12,000 to 14,000 vehicles from the original prediction of 20,000 vehicles. “This reflects the extraordinary supply chain and logistics challenges we’ve encountered and our unrelenting… Continue reading Lucid Motors says it expects to make fewer EVs in 2022 than it originally planned
Cruise co-founder Kyle Vogt retakes CEO spot after GM exec’s sudden departure
Kyle Vogt, who co-founded Cruise and ran the startup for years following GM’s acquisition in 2016, is back in charge. Vogt made the announcement Monday via a tweet. The formal announcement comes more than three months after Cruise CEO Dan Ammann, a longtime executive at GM who had been tapped as CEO in 2018, suddenly… Continue reading Cruise co-founder Kyle Vogt retakes CEO spot after GM exec’s sudden departure
Renault’s Mégane E-Tech: a seductive bet on the EV future
Renault’s new 100%-electric Mégane E-Tech is the French company’s non-hedged bet it can convince drivers they’ve nothing to lose in swapping their traditional ICE rides for modern a EV – and gain considerable performance, cost, and flair advantages in the bargain. A day test driving the car on the roads of southern Spain suggests the… Continue reading Renault’s Mégane E-Tech: a seductive bet on the EV future
Chinese automakers, EV firms invest $385m in Sunwoda’s battery unit at $2b valuation …
Sunwoda Electric Vehicle Battery, an electric vehicle (EV) battery maker affiliated with the publicly-listed Sunwoda Electronic, is planning to raise 2.43 billion yuan ($385.1 million) from a consortium of investors including China’s major EV firms and traditional automakers. The 19 investors have agreed to purchase about 19.5% shares in Sunwoda Electric Vehicle Battery for 2.43… Continue reading Chinese automakers, EV firms invest $385m in Sunwoda’s battery unit at $2b valuation …