If you get any value from this podcast please consider supporting my work on Patreon. Plus all Patreon supporters get their own unique ad-free podcast feed.
Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Tuesday 2nd November. It’s Martyn Lee here and I go through every EV story so you don’t have to.
Thank you to MYEV.com for helping make this show, they’ve built the first marketplace specifically for Electric Vehicles. It’s a totally free marketplace that simplifies the buying and selling process, and help you learn about EVs along the way too.
RIVIAN TARGETS $53BN VALUATION IPO
– Rivian, the electric automotive company backed by Amazon, is targeting a valuation as high as $53bn when it makes its debut on the Nasdaq, potentially as soon as next week. At the top end of its range of $57-$62 a share, Rivian would begin trading at a value higher than the likes of carmakers Kia and Nissan, and would raise just less than $8.4bn from the offering.
– Amazon ranked as Rivian’s largest outside shareholder, with a 22.4 per cent stake.
– The market debut would also result in a windfall for founder RJ Scaringe, which owns more than 17.6m shares that would be worth a total of $1.1bn at the top of the price range.
Original Source : https://www.ft.com/content/e123d71e-8644-410c-9b4e-69a25914d867
– Rivian Automotive Inc, which is backed by Amazon.com Inc, is targeting a valuation of more than $53 billion for its U.S. debut, making the electric vehicle manufacturer potentially almost as valuable as rival Honda Motor. The startup is looking to raise up to $8.4 billion, setting it up to be the third-largest initial public offering (IPO) by funds raised in the past decade in the United States.
– While Rivian has yet to sell any significant volume of its electric vans or trucks, it could likely be valued higher than Ferrari, although less than Honda, General Motors or its backer Ford Motor Co.
Original Source : https://uk.news.yahoo.com/ev-startup-rivian-backed-amazon-205736630.html
– Rivian is filling a spot in the EV market that no other company has yet filled: off-road vehicles such as trucks and SUVs. This gives the company an advantage over giants like Tesla, Ford and General Motors, who have announced plans for electric truck development but haven’t yet released a product.
– None of Rivian’s financial information such as revenue or profit is yet available for investors to view and it will only be released with the S1 filing when the company is about to IPO. This means that investors often have to decide quickly whether they want to trade on the IPO date.
Original Source : https://www.cmcmarkets.com/en-gb/ipo/rivian-ipo
– Rivian first published its papers to go public in August, then aiming for a valuation of around $70 billion. Rivian has lost $2 billion since the start of last year, underscoring the costs and risks of developing electric vehicles. It expects to spend roughly $8 billion on facilities and equipment through the end of 2023.
Original Source : https://www.nytimes.com/2021/11/01/business/rivian-ipo-valuation.html
TESLA STOCK FALLS AS ELON MUSK SAYS HERTZ SALE NOT CONFIRMED
– Tesla CEO Elon Musk insisted no formal contract has been signed with Hertz, after the car rental company announced a deal to buy 100,000 electric vehicles in an overhaul of its fleet.
– The deal, announced Oct. 25, sent Tesla stock soaring to an all-time high and pushed its valuation above $1 trillion for the first time.
However, responding to a tweet about the blockbuster rally, Musk said Monday evening, “If any of this is based on Hertz, I’d like to emphasize that no contract has been signed yet.”
– Musk’s dose of cold water on the deal sent Tesla stock down over 5 percent to $1,147.64 by 6:30 a.m. ET Tuesday. The stock’s still up more than 12 percent since the announcement of the Hertz deal.
– a Hertz spokeswoman, insisted in a statement, “Deliveries of the Teslas already have started. As we announced last week, Hertz has made an initial order of 100,000 Tesla electric vehicles and is investing in new EV charging infrastructure across the company’s global operations,”
TESLA INCREASES MODEL 3 AND MODEL Y RANGES WITH 2022 MODEL YEAR
– Tesla has updated Model 3 and Model Y line with the 2022 model year specs, and most of the configurations got higher range – though it depends on the wheels.
– In an overnight update to its online configurator, Tesla changed the ranges of several of its most popular Model 3 and Model Y trims.
– For the Model 3 Standard Range Plus, the range went from 262 to 272 miles on a single charge
– Now it only refers to it as “Rear-Wheel Drive” and the different battery packs are only differentiated by the Model 3 Dual Motor also being called “Long Range.”
– Model 3 Long Range, it goes from 353 to 358 miles with the 18″ wheels.
– Model Y Long Range also got a bump. It went from 326 to 330 miles of range:
TESLA STARTS SELLING HOME CHARGER THAT WORKS WITH OTHER EVS
– Tesla has launched a new at-home wall charger that works with other electric vehicles
– The new Level 2 wall charger was quietly added to the company’s online store on the same day it started allowing non-Tesla EVs to charge at Supercharger stations in the Netherlands — the first step in a much larger plan to open up access to Tesla’s charging network around the world.
– The new charger uses a standard J1772 connector, not Tesla’s proprietary one, meaning it should work fine with other electric vehicles in North America. It’s competitively priced, too, at $415
– Tesla says it can charge at up to 9.6kW and is designed for both indoor or outdoor installation. It’s basically a reworked version of the “Gen 2” Tesla home charger, though, meaning it won’t have some of the more advanced features (like Wi-Fi) found on the Gen 3 version Tesla currently sells to its owners.
Gen 3 Wall Connector in Y here is £460
400 V Three-phase power output (kW) and 22kW in UK.
– Model 3 max charge rate on a 400 V Three-phase power supply is 16 amps (11 kW) Model S and Model X max charge rate on a 400 V Three-phase power supply is 24 amps (16.6 kW)
TESLA RECALLS NEARLY 12,000 U.S. VEHICLES OVER SOFTWARE COMMUNICATION ERROR
– Tesla is recalling nearly 12,000 U.S. vehicles sold since 2017 because a communication error may cause a false forward-collision warning or unexpected activation of the emergency brakes, the National Highway Traffic Safety Administration (NHTSA) said Tuesday.
– the recall of 11,704 Model S, X, 3 and Y vehicles was prompted after a software update on Oct. 23 to vehicles in its limited early access version 10.3 Full-Self Driving (FSD) (Beta) population.
– NHTSA said Tesla “uninstalled FSD 10.3 after receiving reports of inadvertent activation of the automatic emergency braking system” and then “updated the software and released FSD version 10.3.1 to those vehicles affected.”
– The recall comes after NHTSA last month asked Tesla why it had not issued a recall to address software updates made to its Autopilot driver-assistance system to improve the vehicles’ ability to detect emergency vehicles.
– After the Oct. 24 reports, Tesla said it canceled the FSD update on vehicles that had not installed it and disabled FCW and AEB on affected vehicles.
– Tesla said as of Oct. 29, more than 99.8% of the vehicles – all but for 17 – had installed an update and no further action is necessary.
FRANCE HITS RECORD 23% EV PLUG-IN SHARE IN OCTOBER
– France, Europe’s second-largest car market, saw the share of plug-in electric vehicles climb to a new record of 22.9% in September, nearly double the share of 11.8% recorded a year ago.
– October’s combined plug-in result of 22.9% included a record 13.14% complete electric batteries (BEVs) and 9.75% plug-in hybrids (PHEVs), a continuous change from the weighting towards the BEV in relation to recent trends.
– . The BEV share remains on track to potentially exceed the diesel share by the end of December 2021.
XPENG ANNOUNCES VEHICLE DELIVERY RESULTS FOR OCTOBER 2021
– XPeng maintained strong momentum in October with a total 10,138 Smart EVs delivered, representing a 233% increase year-over-year and the second month surpassing the 10,000-unit benchmark despite the semiconductor shortage.
– Deliveries in October consisted of 6,044 P7 smart sports sedans, representing a 187% increase year-over-year. The Company delivered 3,657 G3 and G3i smart SUVs, reaching a monthly record since the G3’s launch in December 2018. The P5 smart family sedans, launched in September 2021, demonstrated strong market appeal with 437 units delivered in October and a solid order backlog.
– The Company’s cumulative deliveries exceeded 100,000 as at the end of October 2021
– XPeng’s branded supercharging network spans urban commuting thoroughfares and highways through 439 stations across 121 Chinese cities, as of September 30, 2021. The Company now offers free supercharging services to customers at 1,648 stations in 221 cities across China.
VW TO MAKE CHARGING A TAYCAN AS FAST AS GETTING GAS
– wireless charging is the next step to making EVs even more attractive to the buying public. The tech has been around for some time, but it can always get better, and that’s what Volkswagen is working towards. The auto giant has announced that it is experimenting with the Porsche Taycan in an effort to bring wireless charging times down, with the goal of achieving an 80% recharge in just 10 minutes.
– The work is being done at Volkswagen Group of America’s Innovation Hub in Knoxville, which is where the automaker works on applied material science.
– The first project is to achieve the goal of developing a higher-power wireless charger. Volkswagen aims to do this through “breakthrough designs that focus electromagnetic waves to eliminate interference, thus increasing efficiency.” In the first trials of the tech, a prototype system has provided promising results, with up to 98% of the energy used reaching the vehicle’s battery.
– The teams involved with the project have also been able to build from a charging power level of 6.6 kW up to 120 kW, with the long-term goal being 300 kW. If that can be achieved, then a Porsche Taycan could theoretically reach an 80% charge level “in about 10 minutes.” If the technology works as expected, the next step will be making it more affordable so that it can one day be used on more accessible vehicles like the Volkswagen ID.4.
SUPERMARKETS ADD 1,000 EV CHARGE POINTS SINCE EARLY 2020
– Nearly 1,000 new electric vehicle (EV) charge points have been installed at supermarkets in the last 21 months, according to data analysed by Zap-Map and the RAC.
– The total number of EV charger units on their sites to 2,059, up 85 per cent from 1,112 in January 2020. It means nearly eight per cent of all the UK’s 26,000 publicly accessible charge points are located at supermarkets – up from 6.5 per cent in early 2020.
– Tesco has added more EV chargers than any other supermarket by installing 641 devices, giving it a total of 922 across its 4,008 stores – 676 more than its nearest EV charging rival Asda which has 246 chargers.
– 280 more rapid charge points have been installed at supermarkets from the start of 2020 to September 2021, meaning there are now 454 of the devices for EV driving shoppers to use.
KOREA’S EV BATTERY MANUFACTURERS WRINGING HANDS OVER TALENT CRUNCH
– Korea’s top three EV battery manufacturers all rank in the top six global manufacturers, controlling as much as a third of the global EV battery market. They include LG Energy Solution (LGES); SK On, and Samsung SDI Co Ltd. These EV battery manufacturers serve billion-dollar clients such as Tesla, Volkswagen, and Ford, among others.
– As reported by Reuters, the three Korean EV battery manufacturers are in dire need of research and engineering specialists, amidst a boom in demand for the tech powering these batteries and vehicles.
– According to the Korea Battery Industry Association, there is a shortage of approximately 3,000 graduate degree-level talents for roles in research & design, among others. Collectively, the three giants only have around 19,000 employees.
– India is also looking to boost production and development in EV tech, including batteries, with a generous boost of US$3.5 billion in incentives for the sector. Taiwan, too, is cranking up the production of their EV batteries.
– According to the European Battery Alliance planning group, reskilling or upskilling is in need within the EU bloc as the battery industry needs 800,000 new workers by 2025.
– The Japanese government is also enthusiastic about driving research and development, as they are reportedly also considering pumping in ¥2 trillion (US$19.2 billion) into a decarbonization fund. Part of this would go towards building solid-state battery production infrastructure in the country.
SILENCE S04 IS A TINY EV FROM SPAIN WITH REMOVABLE BATTERIES
– Spanish company called Silence presented the S04, their first fully electric quadricycle which complements their range of S01, S02, and S03 e-scooters. The four-wheeler uses removable, interchangeable batteries as the aforementioned two and three-wheelers, making it a practical solution for zero-emission city driving.
– Inside there are two seats and a pretty decent 310-liter (10.9 cubic feet) luggage space. Equipment includes electric windows, air conditioning, and ABS, while keyless entry and start are possible through the user’s smartphone
– The S04 will be available in two variants with different power outputs and battery capacities. The first will be classified as an L6e light quadricycle with an 8 hp (6 kW / 8 PS) electric motor, a limited top speed of 45 km/h (28 mph), and a 5.6 kWh battery.
– The second variant will be classified as an L7e heavy quadricycle featuring a 19 hp (14 kW / 19 PS) electric motor which allows for a higher top speed of 90 km/h (56 miles). The dual battery with a total capacity of 11.2 kWh is good for a 149 km (92.6 miles) r
– the batteries are removable so they can be replaced by fully charged ones at one of Silence’s battery exchange stations under a monthly subscription of €20 ($23). The battery pack is also attached to a trolley so the owner of the S04 can charge it at home or at work.
– The company hasn’t revealed an official market launch date but the first units are rumored to hit the road in mid-2022 with pricing for the base variant to start from around €7,500 ($8,695). Rival models in this segment include the Mobilize EZ-1, the Citroën Ami and Opel Rocks-e siblings, the retro Microlino 2.0, and the ACM City One, among others.
NEW QUESTION OF THE WEEK WITH EMOBILITYNORWAY.COM
With the COP26 climate summit now underway in Scotland, what would you like to tell the politicians or the rule makers about electric cars?
Email me your thoughts and I’ll read them out on Sunday – email@example.com
It would mean a lot if you could take 2mins to leave a quick review on whichever platform you download the podcast.
And if you have an Amazon Echo, download our Alexa Skill, search for EV News Daily and add it as a flash briefing.
Come and say hi on Facebook, LinkedIn or Twitter just search EV News Daily, have a wonderful day, I’ll catch you tomorrow and remember…there’s no such thing as a self-charging hybrid.
PHIL ROBERTS / ELECTRIC FUTURE
PORSCHE OF THE VILLAGE CINCINNATI
VOLVO CARS CINCINNATI EAST
NATIONAL CAR CHARGING ON THE US MAINLAND AND ALOHA CHARGE IN HAWAII
DEREK REILLY FROM THE EV REVIEW IRELAND YOUTUBE CHANNEL
RICHARD AT RSEV.CO.UK – FOR BUYING AND SELLING EVS IN THE UK
DAVID AND LISA ALLEN
BOB BOOTHBY FROM MILLBROOK COTTAGES – 5* GOLD SELF CATERING COTTAGES
DARIN MCLESKEY FROM DENOVO REAL ESTATE
JUKKA KUKONEN FROM WWW.SHIFT2ELECTRIC.COM
ALEXANDER FRANK @ https://www.youtube.com/c/alexsuniverse42
ANDY NANCARROW AND LILIAN KASS
COLIN HENNESSY AND CAMBSEV
DON MCALLISTER / SCREENCASTSONLINE.COM
IAN (WATTIE) WATKINS
JOHN VAN DEVOORT
JON AKA BEARDY MCBEARDFACE FROM KENT EVS
LAURENCE D ALLEN
NEIL E ROBERTS FROM SUSSEX EVS
PETER & DEE ROBERTS FROM OXON EVS
REALTORS CHOICE PHOTOGRAPHY
ROB FROM THE RSTHINKS EV CHANNEL ON YOUTUBE
THOMAS J. THIAS
THE PLUGSEEKER’S EV YOUTUBE CHANNEL