Good morning, good afternoon, and good evening wherever you are in the world, welcome to EV News Daily, your trusted source of EV information. It’s Monday 11th September, Martyn Lee here and I go through every EV story so you don’t have to. We go live at 5pm UK, that’s Midday Eastern. Patreon supporters get the episodes as soon as they’re ready and ad free. You can be like them by clicking here.
BMW’S £600M BOOST FOR OXFORD’S MINI EV PRODUCTION
– BMW is set to announce a significant £600 million investment in the Mini factory located near Oxford.
– This investment will facilitate the adaptation of the factory to produce the next-generation Mini Cooper and Mini Aceman electric vehicles (EVs).
– The current Mini Electric model will soon be phased out from Oxford, making way for the new electric vehicles.
– The upcoming electric Cooper and Aceman models are designed on a fresh platform, a collaboration between BMW and its Chinese partner, Great Wall Motors.
– While these EVs will be manufactured in China for both the local and international markets starting 2024, production in Oxford is slated to begin in 2026.
– A notable chunk of the investment, £57 million to be precise, comes from the UK government’s Advanced Propulsion Fund.
– As of now, there’s no official word on who will supply the batteries for the Mini EVs produced in Oxford. However, BMW has existing partnerships with both Samsung and CATL. It’s worth noting that CATL is in the process of setting up a battery manufacturing unit in Germany.
– BMW initially planned to shift the production of its electric Mini to China. This decision had previously caused concern within the British automotive sector, especially given Mini’s iconic British branding, even offering union jack headlights.
– The production of electric Minis in the UK began in 2019. With this recent decision, a majority of the UK’s large-scale car production facilities now have a secured future in the electric vehicle (EV) domain.
– Despite this positive move, there remains uncertainty about Toyota’s Burnaston factory’s future post-2035. Additionally, the UK has been unsuccessful in drawing new players, including startups from the US and China.
– BMW’s decision comes on the heels of Tata’s £4 billion pledge to establish a gigafactory in the UK for electric batteries. This is in addition to Nissan and the Chinese-owned battery firm AESC’s combined £1 billion investment to set up an EV production center in Sunderland.
– Stellantis, the parent company of Vauxhall and Peugeot, recently commenced the production of electric vehicles at its Ellesmere Port facility.
– Ford has also made significant strides in the EV sector, investing £380 million in its Halewood location, which is set to become the brand’s premier EV component site in Europe.
TESLA’S MODEL 3 HIGHLAND GEARS UP FOR EUROPEAN MARKET
– A vast number of the latest Tesla Model 3 Highland electric vehicles were seen in a spacious parking area in Shanghai.
– These vehicles sport EU logos, leading to speculation that they are intended for the European market.
– Presently, Tesla’s production rate for the Model 3 stands at around 300 units daily, a number that doesn’t fully utilize the site’s maximum capacity.
TESLA SHOWCASES RIGHT-HAND 2024 MODEL 3
– Tesla has introduced a right-hand version of its enhanced 2024 Model 3.
– The showcased white Model 3 features slimmer headlights and a more streamlined front design, marking one of the initial official appearances of the updated right-hand-drive Model 3.
– For those in Japan, Tesla’s online tool indicates expected delivery dates ranging from December 2023 to March 2024.
TESLA HITS 50,000 SUPERCHARGERS GLOBALLY IN JUST OVER 10 YEARS
– Tesla has successfully deployed a total of 50,000 Superchargers worldwide.
– This achievement was accomplished in slightly more than a decade.
– It’s important to note that these are individual Supercharger “stalls” and not entire stations.
– The 50,000 stalls are distributed across roughly 5,500 locations globally, with a concentration in North America, Europe, and China.
– The expansion rate of the Supercharger network is accelerating, with 5,000 Superchargers added since April of this year.
RIVIAN ANNOUNCES MAJOR UPDATES FOR R1T AND R1S IN 2024
– Rivian is set to achieve its 2023 production target of 52,000 vehicles, largely due to the introduction of their in-house developed “Enduro” motors. These motors are now being used in the dual-motor R1-series vehicles and Amazon’s EDV.
– The Enduro motors were a strategic move, especially considering the 2022 semiconductor shortage. These motors require different and fewer chips, and they’re produced by two separate companies for Rivian.
– The dual-motor versions of R1T and R1S have allowed Rivian to cut production costs by approximately 25%. The EDV program has seen even more significant savings, with costs reduced by around 35% due to the new power units and LFP batteries.
– Rivian is transitioning to a more streamlined network architecture, which will decrease the required parts (primarily ECUs) by about 60%. This change will also lead to a reduction in wiring harness length by roughly 25%.
– Both the R1T and R1S are set to receive new batteries that utilize lithium iron phosphate chemistry.
– Other notable points include:
– A significant backlog exists for R1S orders, which is the model that yields higher profit margins for Rivian.
– The upcoming R2-series EVs are projected to be priced between $40,000 and $60,000.
– Rivian’s EDVs are now being shipped to European markets.
– Plans are in place to introduce the R2-series to European customers as well.
FISKER OCEAN BOOSTS PRODUCTION AND SPEEDS UP U.S. DELIVERIES
– Fisker Inc. is set to increase the production of its all-electric SUV, the Fisker Ocean, starting September.
– The company is also expanding its retail, delivery, and service operations across various regions in North America and Europe.
– Production is expected to rise from around 180 vehicles daily to an estimated 300 vehicles daily by Q4 2023. The goal is to reach this production rate by October.
– This production boost aims to cater to customer deliveries across several European countries, including Austria, Belgium, Denmark, France, Germany, and more, as well as Canada and various parts of the U.S.
– As of now, Magna Steyr, Fisker’s production partner, has manufactured 3,123 vehicles. Fisker has received just under 3,000 of these.
– Over 450 Fisker Oceans have been delivered or are in the process of delivery in the U.S. An additional 1,500 vehicles are set to arrive in the U.S. starting this weekend. Meanwhile, Europe has received close to 1,000 vehicles, with 325 already delivered.
– The Fisker Ocean One, a launch edition of the Fisker Ocean Extreme priced at $68,999, boasts a 113 kWh battery pack (106 kWh usable). It offers an EPA range of 360 miles on standard 20” wheels, making it the electric SUV with the longest range in its category. In Europe, its WLTP range stands at 707km/440 UK miles on standard 20” wheels, again marking it as the electric SUV with the longest range available in the European market.
CADILLAC’S 2024 LYRIQ GETS OTA PERFORMANCE BOOST OPTION
– The 2024 Cadillac Lyriq, a luxury crossover, comes with a 102kWh battery pack and provides two drivetrain choices. It’s priced starting at $58,590.
– An optional $1,200 over-the-air (OTA) “Velocity Package” is available for the Lyriq AWD, enhancing its performance.
– While the horsepower remains unchanged, the Velocity Package boosts the torque from 450 pound-feet to 524.
– As a result of this torque increase, the acceleration from zero to sixty mph is reduced by 0.3 seconds, now clocking in at 4.4 seconds.
HYUNDAI AND LGES BOOST INVESTMENT IN GEORGIA BATTERY VENTURE
– Hyundai Motor Group and LG Energy Solution are set to inject an extra $2 billion into their battery cell production joint venture located in Georgia.
– This additional investment elevates the joint venture’s total investment value to surpass $4.3 billion.
– The duo plans to establish a battery cell facility at Hyundai Motor Group Metaplant America’s plant in Bryan County, which is currently under development.
– The projected battery production capacity of this facility is 30 gigawatt-hours per year. This is expected to cater to the manufacturing of 300,000 electric vehicles (spanning Hyundai, Kia, and Genesis brands) annually when operating at full capacity.
– It’s noteworthy that LGES and SK On are the primary battery collaborators for the Hyundai Motor Group.
ALPINE REVIVES A310 AS A FOUR-SEATER ELECTRIC SPORTS CAR
– Alpine is reintroducing the A310 model, this time as an electric sports car with four seats, emphasizing the brand’s core values of agility and lightness.
– This revamped A310 is among seven new electric vehicles that Alpine plans to roll out by 2030, marking a significant transformation for the Renault Group’s sports division.
– The new A310 will utilize the Alpine Performance Platform (APP), which is also the foundation for the upcoming electric A110 coupé set to debut in 2027.
– The A310 is poised to be a more functional counterpart to the brand’s primary two-seater vehicle.
VW INTRODUCES REBATES FOR LONDONERS POST-ULEZ EXPANSION
– Volkswagen UK is introducing rebates for individuals impacted by the Ultra Low Emission Zone (ULEZ) expansion in London.
– The rebates offered by Volkswagen vary between £1,750 and £4,500, based on the selected vehicle model.
– This rebate can be chosen as an alternative to other existing offers from Volkswagen.
– A variety of Volkswagen models are eligible for this offer, encompassing all the current electric ID models.
– The rebate is presented as cash discounts by Volkswagen and targets individuals residing in any of London’s 32 boroughs who are eligible for the Mayor of London’s vehicle scrappage scheme.
CALIFORNIA SHIFTS EV REBATE FOCUS TO BENEFIT LOW-INCOME DRIVERS
– California is wrapping up its Clean Vehicle Rebate Project by the end of the year, as reported by Southern California’s *The Daily Bulletin*.
– The program, which has been operational for 13 years, has distributed over $1.2 billion in rebates to promote EV adoption.
– The state’s new direction aims to prioritize low-income drivers.
– Under the revised initiative, eligible individuals based on income can receive up to $12,000 if they trade in their older gasoline vehicles for more environmentally-friendly options.
– Those who aren’t trading in an old vehicle but still meet the income criteria can avail up to $7,500 in grants towards their new vehicle purchase.
ILLINOIS SECURES $2 BILLION GIGAFACTORY FROM CHINESE BATTERY MANUFACTURER
– Gotion High-tech Co., a Chinese battery producer, has chosen Illinois as the location for its new $2 billion gigafactory, set to commence production in the upcoming year.
– The facility is anticipated to generate 2,600 job opportunities.
– Governor J.B. Pritzker highlighted the significance of this investment, labeling it as the most substantial new manufacturing investment in Illinois in many years.
– The gigafactory will concentrate on the production of lithium-ion battery cells, battery packs, and energy storage systems.
– To attract this major project, the state offered incentives amounting to $536 million.
NIO’S EC6 TO HIT ROADS DAY AFTER LAUNCH
– Nio has confirmed the launch of its new EC6 coupe SUV on September 15.
– In a swift move, deliveries for the new EC6 will commence on September 16, just a day post its official launch.
– Prospective buyers and enthusiasts can already get a glimpse of the EC6, as show cars are now on display at Nio’s showrooms. Additionally, test drives are scheduled to start on the launch day itself.
– Technically, the new EC6 boasts features consistent with Nio’s NT 2.0-based platform, including the same LiDAR and camera setup on its roof. Its front and taillight designs align with the aesthetics of Nio’s recent models.
– Powering the EC6 are dual electric motors, produced by Nio’s electric drive systems unit located in Hefei.
2023 EV TAX CREDIT: KEY DETAILS AND QUALIFICATIONS
– The Inflation Reduction Act has introduced several significant modifications to the EV tax credit:
– EVs must have an MSRP of $55,000 or less for passenger cars and $80,000 or less for vans, SUVs, and light trucks to qualify.
– From 2024, the credit can be applied directly at the point of sale, reducing the vehicle’s purchase price.
– Vehicles with battery components from “foreign entities of concern” won’t be eligible for the credit starting 2024. For essential minerals, this restriction begins in 2025.
– The previous restriction on automakers that produced over 200,000 EVs has been removed.
– There’s an income limit to be eligible for the credit.
– For the full $7,500 credit:
– $3,750 can be claimed if over half of the vehicle’s battery components are made or assembled in North America.
– The remaining $3,750 is available if at least 40% of essential minerals like graphite, lithium, and cobalt are sourced from the US or its trade allies.
– As of 2023, used plug-in electric and fuel-cell EVs can get a credit of up to 30% of their purchase price, capped at $4,000, with specific conditions:
– The credit can only be claimed once per vehicle.
– The vehicle’s MSRP must be $25,000 or below.
– The car must be a minimum of 2 years old, meaning if purchased in 2023, it should be from the 2021 model year or earlier.
– Vehicles bought before 2023 don’t qualify.
– The purchase must be from a qualified dealer who reports to the IRS.
– The vehicle must meet other EV credit requirements.
– The tax break for home charging systems has been extended to 2032, retroactive from Jan. 1, 2022. This credit is worth $1,000 or 30% of the system’s purchase or installation cost, whichever is lower.
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