Good morning, good afternoon, and good evening wherever you are in the world, welcome to EV News Daily, you trusted source of EV information. It’s Thursday 2nd June, it’s Martyn Lee here and I go through every EV story so you don’t have to.
GM SLASHES PRICES OF CHEVY BOLT EVS DESPITE RISING COMMODITY COSTS
– Despite rising commodity costs, General Motors on Wednesday slashed the price of its 2023 Chevrolet Bolt EV, likely making it the least expensive electric vehicle on sale in the U.S.
– The Detroit automaker cut the cost of the Bolt EV to a starting price of $26,595, down $5,900 from the 2022 model year. GM also reduced the price of its larger Bolt EUV by $6,300 to start at $28,195. All pricing includes a mandatory $995 destination charge.
– The Bolt EV has been in production since 2016 and features older battery technology than the company’s new EVs such as the GMC Hummer pickup and Cadillac Lyriq, which feature its “Ultium” technologies.
– Bolt owners could be eligible for state EV incentives, which would bring the price down further.
2023 CHEVY BOLT IS NOW NATION’S CHEAPEST EV AT $26,595
– Buyers interested in the more feature-rich 2LT trim will fork over $29,795, which also represents a $5,900 cut.
– for the Bolt EUV, expect an even heftier price reduction. Both the base and Premier trim will chop $6,300 off the top, with the latter now coming in at $38,995. That means the nicest Chevy Bolt EUV is still $10,000 less than a base Tesla Model 3.
– the Bolt has only gained a few extra miles of range, bringing its total to 259 miles. Plus, other crossover-sized options exist that have drawn in more buyers than the larger Bolt EUV. New vehicles on the market have also begun to easily outclass the Bolt’s range and size, so what exactly does the Bolt have going for it? Well, with a $6,000 discount year-over-year, the answer is apparently its affordable price tag.
PORSCHE STRENGTHENS TIES WITH ELECTRIC SUPERCAR STARTUP RIMAC IN NEW FUNDING ROUND
– Porsche is strengthening its ties with Rimac, an electric supercar company, by participating in a $536 million (500 million euros) investment round for the Croatia-based startup. Porsche didn’t disclose the exact amount it invested in Rimac, except to say it was “eight figures.” And Porsche won’t have a controlling interest in Rimac, retaining its previously disclosed 20 percent equity stake in the company.
– With the new funding, Rimac plans to hire 200 additional employees in 2022 and invest in expanding its production capacity for “high-volume projects.”
BUICK WILDCAT EV CONCEPT HERALDS ALL-ELECTRIC FUTURE
– Buick is going all-electric, and to preview what that future might look like, the General Motors division unveiled a sleek concept car borrowing a name from the past.
– The Buick Wildcat EV concept starkly contrasts the automaker’s current lineup of staid-looking SUVs. It’s a luxury coupe, the kind of car Buick used to be known for.
– Inside, multiple touchscreens cover the dashboard. Buick said the Wildcat EV also uses artificial intelligence to learn driver preferences, biometrics for security, and even has a Zen mode that combines aromatherapy, massage, and soothing lighting.
– The first Buick EV production model for North America will debut in 2024. These future Buick EVs will use another name from the automaker’s past — Electra.
– Further details on the Buick Electra EVs will be revealed closer to 2024, but we do know Buick will use the same Ultium component set as other GM brands.
Original Source : https://www.digitaltrends.com/cars/buick-wildcat-ev-concept/
MUSK SAYS CHINA LEADS EVS, BUT CEO OF CHINESE RIVAL DISAGREES
– On Monday (May 30), Musk’s post on China’s Twitter-like Weibo praised the country for “leading the world” in renewable energy generation and electric vehicles. “Whatever you may think of China, this is simply a fact,” wrote Musk, who has nearly 2 million followers on the Chinese platform. Musk also tweeted the same content the same day, commenting under a post that lists China as the leader in installed wind power capacity globally.
– One challenge to Musks’ comment came from one of Tesla’s strongest Chinese rivals, EV maker XPeng Motors. He Xiaopeng, the CEO and co-founder of the Chinese company, responded online that he thinks China is only at the forefront globally in the field of EV—not leading it, though the distinction he was making isn’t exactly clear. To truly lead, “…apart from leading in technology and products, it’s more important to lead in global markets and achieve win-win situations in business, which would require 10 years of efforts,”
– He compared the situation to the mobile internet a decade ago, a field that people thought China was leading, “but once the real technological war starts, China’s leading fronts in this arena globally would not be enough.”
TESLA CYBERTRUCK’S MASSIVE DIE-CASTING PRESS REVEALED IN NEW VIDEO
– Idra Group has posted a video of a new 9,000-ton “gigapress” that will be used to “cast the biggest and most complex structural parts being manufactured today,” without saying what they are.
– However, Musk confirmed on Twitter that the press is for the “Cybertruck Body” in response to a post featuring video of the press being assembled.
– Musk had previously said the Cybertruck would require an 8,000-ton press, but the vehicle’s design has since been updated.
– An exact date in 2023 for the start of Cybertruck production has not been announced, and all pricing and specifications have been removed from its reservation website, but industry analysts recently told Autoweek that it may not begin until next December.
Original Source : https://www.foxbusiness.com/lifestyle/tesla-cybertruck-casting-press
MORE EV TRUCKS COMING TO THE UK FROM MERCEDES-BENZ
– Mercedes-Benz Trucks has announced that its eActros LongHaul will hit the road this year.
Importantly, the new truck will offer a driving range of around 310 miles (500km).
Furthermore, the eActros LongHaul will go into series production in 2024.
Currently, the first prototypes are undergoing testing.
– Meanwhile, the eActros LongHaul will offer high-performance charging.
The “megawatt charging” will enable downtime to be minimised and maintain efficiency levels.
BMW IX1 WOULD HAVE BEEN THE PERFECT REPLACEMENT FOR THE I3 IN THE U.S.
– t BMW has finally debuted the iX1–an all-electric car that’s priced reasonably, features handsome and traditional crossover looks, and is big enough to be practical–it isn’t going to be sold here.
– I have to admit, I was genuinely disappointed when I learned the iX1 wasn’t coming to the U.S. market. Small, premium crossovers are like catnip to suburban buyers, so if BMW were to make one that was all-electric but looked like a normal, handsome crossover, it’d likely do incredibly well. Especially when you throw federal tax rebates into the mix. And yet, the iX1 will remain forbidden fruit for Americans.
Original Source : https://www.bmwblog.com/2022/06/01/bmw-ix1-replacement-i3/
REPORT: ELECTRIC VEHICLE SALES WILL TRIPLE BY 2025
– Sales of non-plug-in internal combustion-powered vehicles peaked in 2017, according to a report by industry analysts at Bloomberg New Energy Finance, and have been in “permanent decline” since then as sales of plug-in hybrid and electric vehicles increase.
– Sales of plug-in vehicles are also expected to triple their current levels by 2025, according to the report.
– In 2025, the global auto industry will sell 20.6 million plug-in vehicles, according the report, compared to 6.6 million this year. Sales of purely internal combustion-powered vehicles, while projected to still make up the majority of total car sales in 2025, will have decreased.
EVS WILL TRIPLE IN 3 YEARS BUT ADOPTION STILL TOO SLOW TO HIT BIG CLIMATE TARGET
– Electric vehicle sales appear likely to more than triple by 2025, and yet governments and manufacturers will have to work harder and likely sweeten incentives to eliminate emissions from road transportation by the middle of this century as pledged.
– That’s according to research firm BloombergNEF in its seventh annual Long-Term Electric Vehicle Outlook, released Wednesday.
– The growth may be lauded by policy-makers backing the move, but it’s still shy of the full adoption that has been a repeat talking point by the Biden administration and others. As an interim step, Biden has said half of all U.S. vehicles on the road by 2030 can be zero-emissions
– For one thing, heavier commercial vehicles, including buses, delivery vans and trucks, are on track to trail, with only 29% of the fleet decarbonizing on the 2050 timeline, BNEF says. That means despite the rapid rise in EV adoption, “road transport is still not on track for carbon neutrality by 2050,” analysts led by Colin McKerracher, BNEF’s head of advanced transport, write in the report.
– “Aggressive action from policymakers will be required, especially on heavier vehicles where both batteries and hydrogen fuel cells are vying for a place in the market. The window to stay on track for net zero is closing quickly,” they said.
TO FIGHT INFLATION, PASS EV TAX CREDITS NOW
– Spiking global oil prices are causing pain at the pump for hard-working Americans, but unexpected relief is here. Electric vehicles (EVs) are now cheaper in most states than their gas counterparts, and can save drivers thousands — if the Senate passes legislation that’s languished for months.
– These inflation-busting economics hinge on the $7,500 federal EV tax credit. GM and Tesla have surpassed the cap on credits, while Ford, Nissan and Toyota will likely exceed it this year — putting EVs out of reach for most working families. But the Senate is currently considering reconciliation legislation to extend the cap on these credits for automakers who have exceeded it, and even to increase the EV tax credit to $10,000. If it passes a package that does both, EVs would be cheaper than gas cars in every state, saving drivers money starting the day they drive off the lot.
– While EV sticker prices may typically be higher than gas-powered cars, 85 percent of Americans finance their car purchase through monthly payments. This spreads out cost differences over several years, allowing fuel and maintenance savings to more than offset higher loan costs. Financing a new EV gets considerably cheaper thanks to the federal EV tax credit, state EV rebates and state sales tax exemptions.
– Here’s where the Senate must choose if Americans save thousands or get locked into high gas prices. Extending the $7,500 credit helps ensure EVs remain affordable for most Americans. Expanding the tax credit to $10,000 would make EVs a real option for working and middle-income families, not just the wealthy. At this amount, which is below the $12,500 amount the Senate considered last year, nearly every EV would be more affordable than its gas-powered counterpart in every state.
– If Americans can’t afford an EV without the federal credit, many more would buy the gas alternative, chaining them to volatile gas prices and missing an opportunity to free our country from dependency on petro-state dictators.
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DAVID AND LISA ALLEN
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BATTERY REPORTS FOR EVS AT RECURRENTAUTO.COM
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