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Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Friday 4th February. 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.
Thanks to a new Patreon Supporter and EXECUTIVE PRODUCER BLAINE MCKINNEY.
FORD EARNINGS Q4 2021 | CNBC
The automaker’s fourth-quarter net income swung to a $12.3 billion profit from a $2.8 billion loss during the last three months of 2020. That included an $8.2 billion gain on its investment in electric vehicle start-up Rivian Automotive. After backing out that and other items, like taxes, Ford’s adjusted earnings came to $2.0 billion for the fourth quarter.
Ford owns about 12% of Rivian.
The automaker said it expects to spend between $7 billion and $8 billion, up from $6.2 billion in 2021, as Ford executes CEO Jim Farley’s Ford+ turnaround plan and accelerates its transition to electric vehicles. That includes launches of electric versions of the Transit cargo van and F-150 pickup.
Ford had $36.5 billion in cash and investments to end last year, including $10.6 billion in its Rivian stake. However, that valuation is based on Rivian’s stock at $103.69 per share. The stock closed Thursday at $60.36 a share.
a second-quarter launch for the electric F-150 Lightning remains on track
FORD EARNINGS MISS EXPECTATION BUT EXECS BULLISH ON EV DEMAND | DETROIT NEWS
“Financial performance is obviously critical,” CEO Jim Farley said in a statement. “We’re also proud that customers see how Ford is taking EVs mainstream, and have already ordered or reserved more than 275,000 all-electric Mustang Mach-E SUVs, F-150 Lightning pickups and E-Transit commercial vehicles — and we’re breaking constraints to deliver every one of them as fast as we can.”
Ford ended 2021 as the No. 2 seller of EVs in the U.S., behind market leader Tesla Inc., an achievement Farley described as “an important early step toward eventually being the true EV leader.” The company has said it aims to boost EV manufacturing capacity to at least 600,000 units by 2023 and it’s targeting at least 40% of its lineup being fully electric by decade’s end.
“We really see the ICE (internal combustion engine) business as a strategic advantage as we go forward, and as we manage that and continue to improve that business and generate significant amounts of cash flow, we’ll leverage that and invest in the growth business with our BEVs.”
Farley noted the automaker’s planned plant in Tennessee “will produce Ford’s second generation of a full-size electric pickup in high volumes starting in 2025.””The velocity of change at Ford is increasing,” he told analysts. “We’re not seeking half-measures. Fear of change and risk has never served legacy automakers well in the past couple decades. We’re done with incremental change. We have a clear plan, a bias for action and a whatever-it-takes mindset.”
AMAZON ADDS TO RIVIAN STAKE | MARKETWATCH
Amazon.com Inc. AMZN, -7.81% disclosed overnight that it boosted its stake in electric-vehicle maker Rivian Automotive Inc. RIVN, -6.16% to more than 18% and initiated a stake in self-driving software company Aurora Innovation Inc. AUR, -3.66% of more than 5%
That would be enough to make the ecommerce giant Rivian’s largest shareholder, according to FactSet; Ford Motor Co. F, -3.59% is the fifth largest with a 10.7% stake.
TESLA ‘PHANTOM BRAKING’ REPORTS HAVE SOARED SINCE NOVEMBER | THE WASHINGTON POST
Teslas are unexpectedly slamming on their brakes in response to imagined hazards — such as oncoming traffic on two-lane roads — which has prompted their terrified owners to lodge a surge of complaints with the National Highway Traffic Safety Administration over the past three months, according to a Washington Post analysis of federal auto safety data.
The phenomenon, known as “phantom braking,” has been a persistent issue for Tesla vehicles.
The automaker was forced to recall a version of its Full Self-Driving software in October over false positives to its automatic emergency-braking system that it said were triggered by the software update. Complaints soared after the recall and remain elevated, signaling continued owner concern.
In addition to the safety recall in late October, the timing of the complaints coincides with a period in which Tesla has stopped using radar sensors in its vehicles to supplement the suite of cameras that perceive their surroundings.
TESLA RECALLS MORE THAN 817,000 CARS OVER FAULTY SEAT BELT CHIMES | TECHCRUNCH
Tesla is once again grappling with large-scale software quality issues. The Associated Press reports Tesla has issued a recall for 817,143 cars over a flaw in seat belt chime functionality. All Model 3 and Model Y cars, as well as 2021 and newer Model S and Model X cars, have a “software error” that prevents the chime from sounding on startup if the chime was interrupted and the seat belt wasn’t fastened.
The automaker plans to fix the seat belt chime bug by releasing an over-the-air update sometime in early February.
South Korean testers first discovered the problem on January 6th, and Tesla decided a recall was necessary on January 25th following an investigation.
While this recall is relatively minor, its timing couldn’t be much worse for Tesla. It comes just a few days after a recall for a Full Self Driving bug, and while the NHTSA is investigating a string of incidents where cars using Autopilot crashed into emergency vehicles.
TESLA PLANS TO BUILD CATHODE BUILDING AT TEXAS GIGAFACTORY | REUTERS
Tesla Inc (TSLA.O) on Wednesday applied for a permit to extend its existing Austin-based car factory with a building to produce cathodes for battery manufacturing, according to city filings and a spokeswoman.
An application submitted on Wednesday for an Austin building permit under the program name “Cathode” listed the Colorado River Project LLC as a co-applicant. That is the name Tesla has used throughout the permitting process for its new Texas factory on the state and local level.
According to the city filing, it would have the size of nearly 1.6 million square feet.
US: IN JANUARY, HYUNDAI SOLD 989 IONIQ 5 EVS | INSIDEEVS
Hyundai reports that it sold 47,872 vehicles last month, which is 10% more than a year ago and the new highest January sales total in the company’s history. Out of that, 989 Hyundai Ioniq 5 were sold last month, which is already over 2% of the total volume.
Together with 153 units sold in December (customer deliveries started on December 15), there are now more than 1,100 Ioniq 5 on the road.
Currently, Hyundai Ioniq 5 offer includes several versions in the U.S., although the entry-level version with a 58.2 kWh battery will enter the market later (Spring 2022).
NEW CAR SALES DOWN 23% ON PRE-PANDEMIC LEVELS | EXPRESS & STAR
Demand for new cars remains significantly below pre-pandemic levels but sales of electric models continue to buck the trend.
Sales of battery electric vehicles increased by 130.6% year-on-year
One in five new car buyers last month chose a plug-in vehicle.Battery electric vehicle registrations were up 130.6% year-on-year, while demand for plug-in hybrids grew by 47.3%.
LUCID BEGINS DREAMDRIVE WIDE ROLL OUT: RELEASE NOTES | TESLATRATI
Lucid has started rolling out Software Version 1.1.4, which contains new features for DreamDrive, the company’s ultra-intuitive advanced driver assistance system.
Lucid is giving the first portion of DreamDrive, along with improvements to Access & Profiles, Navigation, and other minor updates, in this new software version.
“With this update, we’re launching new features for DreamDrive, our advanced driver assistance system. This DreamDrive update will occur in two parts. We’re also enhancing vehicle and infotainment system performance for an improved overall user experience,” the release notes state. “Adaptive Cruise Control is not active in this version 1.1.4, though you may notice minor display changes made in preparation for its deployment. Adaptive Cruise Control will be made available in your next over-the-air update (version 1.1.5).”
2023 NISSAN ARIYA RESERVATIONS LAUNCH IN CANADA | DRIVE TESLA CANADA
Nissan Canada is now taking reservations for their next battery electric vehicle, the 2023 Nissan Ariya. Unlike our friends in the US which can only pick between the Venture and Evolve variants, the Canadian lineup sees two new additions, Engage and e-4ORCE, bringing the total number of trims to select from up to 6.
The entry-level Engage FWD version is equipped with a 63kWh battery pack that will provide up to 346km (215 miles) of estimated range.
Then there is the top-of-the-line Platinum+ e-4ORCE, which has a dual motor AWD powertrain with 426km (264 miles) of range.
MERCEDES READIES EQE AND EQS ELECTRIC SUVS FOR LATE 2022 LAUNCH | AUTOCAR
Mercedes-Benz’s EQ electric car family will soon grow once again with the launches of the EQS SUV and EQE SUV, the third and fourth models to be based on the German car maker’s EV-dedicated EVA platform.
EQS SUV is expected to cost from around £90,000 in the UK, while the smaller EQE SUV will sit closer to the £75,000 mark when sales begin later this year.
A sixth, the production version of the G-Class-based Vision EQG concept, featuring a unique quad-motor powertrain, is also currently under development ahead of a scheduled launch in 2024.
One senior manager privy to the final design of the EQS SUV told us: “The interior will offer a compelling argument to buy this car. It sets new standards for Mercedes.”
The EQS SUV is set to offer a 108kWh lithium ion battery pack in combination with two motors, together developing up to 516bhp
The smaller EQE SUV is set to use a 90.6kWh lithium ion battery pack with the choice of either a rear-wheel-drive single-motor or four-wheel- drive dual-motor layout.
SKODA FOCUSING ON SMALLER ELECTRIC CARS | AUTOMOTIVE DAILY
Skoda boss Thomas Schäfer has confirmed its next three electric cars will all be smaller than the Enyaq SUV and Enyaq Coupé – but has said the company wouldn’t rule out launching larger EVs in the future.
the company’s next priorities include a smaller sedan-style car – likely to be similar in size to the Volkswagen ID 3 – and its first model on the compact MEB Entry platform, which would essentially serve to replace the Citigo e-iV that went out of production in 2020.
Last year, the Volkswagen ID Life and Cupra Urban Rebel concept previewed the first cars from those respective brands to use the new, smaller MEB platform, previewing production models due to arrive in 2025 with a target price of around $30,000.
TOP 2021 CHINESE VEHICLE EXPORTER REVEALED | CAR NEWS CHINA
Chinese car export rose 100% YoY in 2021 to a record 2.015 million units. New energy vehicles accounted for
310,000 units, respectively, according to the China Association of Automotive Manufacturers (CAAM).
SAIC Motor exported 697,000 vehicles in 2021. For every three Chinese cars sold overseas, one is from SAIC.
In particular, the MG brand’s overseas sales reached 360,000 units, accounting for 15% of SAIC’s total export sales.
At the same time, the newer automakers, including NIO, Xpeng, and Li Auto, exported a total of 100,000 vehicles, with the European market becoming their expansion targets. According to its CEO, by the end of 2022, NIO plans to expand to at least six European markets. XPeng also plans to launch in Sweden, Denmark, and the Netherlands in 2022.
ARNOLD SCHWARZENEGGER IS ZEUS IN BMW’S ELECTRIC CAR SUPER BOWL AD | CBR.COM
Fans of Arnold Schwarzenegger should keep their televisions tuned to the Super Bowl as the iconic movie star is set to play Zeus in a commercial for BMW.
While the actual teaser doesn’t explicitly reveal what the commercial will be about, the lighting-struck BMW logo suggests that it will have something to do with the manufacturer’s range of electric vehicles. Following the link provided in the video’s description takes viewers through to a page dedicated to the BMW i, which is presumably the car that will headline the full advertisement.
The full BMW commercial is set to air during the Super Bowl on Feb. 14.
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