Geely Auto to recruit 300 engineers to work on new energy solutions at Raunheim facility near Frankfurt 2019 May 16, Frankfurt/Hangzhou. Geely Auto Group (Geely Auto), China’s leading privately-owned automotive company, has formally opened a new research and development facility at Raunheim, Germany, to accelerate innovation in new propulsion systems and next-generation mobility technology. The… Continue reading Geely Auto Opens Research & Development Centre in Germany
Tag: Electric vehicles
Geely Auto and LG Chem to Establish Joint Venture Company to Produce Batteries in China
New 50:50 joint venture to produce batteries in China. Joint venture to have a registered capital of 188 million USD 2019 June 13, Hangzhou Bay, China. Shanghai Maple Guorun, an indirect 99% owned subsidiary of Geely Automobile Holdings (HK.0175), the listed arm of Geely Auto, today announced a new joint venture partnership with LG Chem… Continue reading Geely Auto and LG Chem to Establish Joint Venture Company to Produce Batteries in China
Faraday Future Secures Financing, Announces New FF 81 Electric Car
With new financing, Faraday Future remains in the game, plans to complete FF 91 and hints at a mass-market FF 81. Faraday Future announced up to $225 million in bridge financing from U.S. merchant bank Birch Lake Associates to complete the development of its FF 91 electric car and introduce it on the market. Two-thirds… Continue reading Faraday Future Secures Financing, Announces New FF 81 Electric Car
Volkswagen: Our Electric Car Batteries Last The Life Of The Car
VW To Guarantee 70% Battery Capacity For 8 Years Or 160,000 km Volkswagen‘s Center of Excellence for Battery Cells chief Frank Blome said that the goal for the upcoming MEB-based electric car is to guarantee a minimum capacity of 70% for eight years or 160,000 km (around 100,000 miles). The battery pack is expected to last… Continue reading Volkswagen: Our Electric Car Batteries Last The Life Of The Car
Judge approves Musk, SEC agreement over Twitter use by CEO
FILE PHOTO: Tesla Inc. CEO Elon Musk (C) exits after attending a S.E.C. hearing at the Manhattan Federal Courthouse in New York, April 4, 2019. REUTERS/Eduardo Munoz NEW YORK (Reuters) – A federal judge on Tuesday approved a deal struck between Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission over… Continue reading Judge approves Musk, SEC agreement over Twitter use by CEO
GM CEO confirms plans to build Chevy or GMC electric pickup truck
2019 GMC Sierra
General Motors CEO Mary Barra confirmed Tuesday in a call with investors what rumors had long predicted: The automaker will build an electric pickup. Barra didn't specify when the pickup would appear, or whether it would be branded as a GMC or Chevrolet.
Rumors swirled earlier this year that GM may invest in EV startup Rivian, but that never materialized. Instead, Amazon invested up to $700 million in Rivian earlier this year. Then, last week Ford announced that it will invest $500 million in Rivian, which could preclude a deal with GM.
Barra's announcement Tuesday makes it clear that GM is committed to building an electric pickup, even without Rivian.
DON'T MISS: GMC could join electric-pickup tailgate party
In January, Duncan Aldred, vice president of General Motors' GMC brand, told attendees at a conference following the Detroit auto show that the brand was considering an electric truck, but didn't offer any details.
Barra had already said, multiple times, that the automaker is working toward an all-electric future, which includes pickups.
READ MORE: Chevrolet Bolt EV to get electric sibling, with Michigan plant investment
In March, GM announced it will invest $300 million in its Orion Township, Michigan factory to build a second electric model based on the Chevrolet Bolt EV, which Barra also confirmed Tuesday. The second car is expected to be an electric SUV, possibly called the Bolt EUV.
Beyond that, GM announced at the Detroit auto show that Cadillac will become its lead brand for electric vehicles, starting with an electric SUV in 2022.
CHECK OUT: Long-range Cadillac SUV to lead GM's next electric-car push, in 3 years
With Cadillac taking the lead to sell GM electric cars—for higher prices and profit margins—it makes sense that the premium GMC brand could be the automakers' primary outlet for electric pickups.
Electric pickups have gained in mind-share in recent months after Rivian revealed its long-range electric pickup at the LA auto show in November. Tesla CEO Elon Musk said this year that the company will reveal more details about its pickup in the summer, which is expected to follow the Model Y and the Semi, though an actual production timeline is still unclear.
Ford also announced that it will built an all-electric F-150 and a Mustang-inspired crossover.
Faraday Future raises USD 225 million to mass produce its electric vehicles – KrASIA
Cash-strapped electric vehicle maker Faraday Future announced on Tuesday that it has gained USD 225 million via debt financing and trust financing. Commercial bank Birch Lake was the main lender in this round, laying “solid ground” for future equity financing, the US-based EV maker said on its official WeChat account. KrAsia reported in January that… Continue reading Faraday Future raises USD 225 million to mass produce its electric vehicles – KrASIA
Electric car startup Faraday Future gets $225 million bridge loan, but bridge to where?
After years of trouble trying to bring its first electric vehicle to market, Faraday Future (FF) is still surviving as it announces a new $225 million bridge loan, but a bridge to where? Ever since it came out of stealth mode, FF has been involved in controversy. First, it was lawsuits from vendors. Later, it… Continue reading Electric car startup Faraday Future gets $225 million bridge loan, but bridge to where?
GM Electric Pickup Planned To Take On Rivian, Ford, And Tesla – Motor1.com
Don’t expect to see the truck too soon, though. During the investor’s call announcing General Motors’ first-quarter financial results, CEO Mary Barra dropped a tantalizing bit of info that an electric pickup is in the automaker’s plan. Unfortunately, she didn’t offer any specific details about what brand would sell the model, according to Slash Gear.… Continue reading GM Electric Pickup Planned To Take On Rivian, Ford, And Tesla – Motor1.com
Bird Announces Monthly Scooter Subscription Service
Personal Scooting The electric scooter company Bird just unveiled a new subscription service: instead of hunting for an available unit and paying to activate it, customers can pay a monthly fee to get access to their own scooter for a full month. The new subscription service, currently available only in San Francisco and Barcelona, may… Continue reading Bird Announces Monthly Scooter Subscription Service