Financial

Tesla’s Giga Texas Hits 50M 4680-Type Cells Milestone

Tesla's Giga Texas plant reaches a milestone, producing 50 million 4680-type battery cells, essential for the Tesla Cybertruck. The average production rate has significantly increased since the previous milestone, potentially sufficient for over 22,000 Cybertrucks. Despite undisclosed production rates, continuous manufacturing of the base model hints at steady demand. This achievement solidifies Tesla's commitment to battery innovation and mass production capabilities, paving the way for more electric vehicles in the future.

Volkswagen Allocates Billions to Develop Gas Engines

Volkswagen reallocates €60 billion from its EV budget to focus on developing combustion engines, as the demand for electric vehicles falls short of projections. This shift in strategy, announced by CFO Arno Antlitz, marks a departure from their previous plan to go all-electric by 2033. Other automakers like Bentley, Ford, and Aston Martin are also delaying their full transition to EVs, reflecting a broader industry trend of reevaluating electric vehicle strategies amidst tightening emissions regulations and global competition.

Peugeot Slashes Electric Van Price by $15,000!

Peugeot cuts price of e-Partner electric van in Aus by $15,000, offering remaining MY23 stock at $49,990. Van boasts 50kWh battery, 245 km range, and handy features like Apple CarPlay®. Limited offer till June 30 for new/demo models. Move follows $25,000 off e-2008 SUVs. Peugeot plans to bring e-Expert van in 2024. Founder Riz Akhtar gives insights into evolving EV market. Time to hop on the emission-free delivery bandwagon, folks!

Experience the GAC Aion Hyper GT: 710km range at $28,100 in China

GAC Aion introduces its electric sedan, Hyper GT Global Model, with a 710 km range and a price tag starting at $28,100 in China. The sleek sedan boasts an 800V platform, advanced driving assistance system, self-healing paint, and an array of luxurious features. Equipped with a powerful electric motor and an 80 kWh battery pack, it accelerates from 0 to 100 km/h in 4.9 seconds. The model aims to hit international markets following successful road tests in Europe and Thailand.

Zeekr X Rolls Out to Australia & Thailand with RHD Versions

Right hand drive versions of the Zeekr X are now in production, set to be delivered overseas in third quarter. Likely launching in Australia initially, with Thailand also in the mix. Only difference from the left hand drive model is color options. Features 4 or 5 seat options, innovative rear seat design for pet transport, and advanced tech like a moveable touchscreen. Offering both rear-wheel and all-wheel drive on Geely's Sustainable Experience Architecture platform. Expected range is 500-560 km, starting at $27,600.

IM Motors to Launch New EREV SUV in 2025

IM Motors is breaking the mold in 2025 with their first EREV SUV, stepping away from their fully electric lineup. The new design, set to launch in the first quarter of 2025, will aim to challenge the Li Auto L7. Founder, Liu Tao, sees the market potential for range extender products over the next few years. Leveraging SAIC's E1 platform, IM Motors is gearing up to tap into the rapidly growing EREVs market in China. With plans to expand overseas, IM Motors might just become a global player soon.

Gotion High-Tech Unveils $1.3B Gigafactory in Morocco

China's Gotion High-Tech reveals plans for a new $1.3 billion battery gigafactory in Morocco, expanding its global reach in EV technology manufacturing. The factory, with an initial 20 GWh battery capacity, could eventually scale up to 100 GWh. Morocco's strategic location near key European markets and existing trade agreements make it an attractive hub for industry giants like Gotion. Exciting developments in the world of electric vehicles and green energy.

Hyundai, Tesla: Long-Range EVs Cheaper than Gas Cars!

Long-range electric vehicles (EVs) by Hyundai, Kia, and Tesla are now more affordable than average gas cars in the US. Prices have dropped significantly, with some EV models like Hyundai's IONIQ 6 being 25% cheaper than the national average. Tesla's Model 3 and Model Y also offer competitive pricing. Leasing options for EVs are up to 37% lower than gas car leases. With prices falling and range increasing, it's a great time to consider switching to an electric car.

Nissan’s Exclusive Deal for Chevy Bolt EV Owners!

Nissan tempts Chevy Bolt EV drivers with an exclusive offer to purchase or lease a new LEAF, starting at $28,140. With a $1,000 incentive available until July 8, Bolt EV or EUV owners can upgrade without trading in their vehicles. Following GM's end of Bolt EV production, Nissan's "LEAF Conquest" offer seeks to attract Bolt drivers. GM also offers deals for Bolt owners to upgrade to Equinox or Blazer EV models.

Tesla China-Made EV Sales Down 7% May 2024

In May 2024, Tesla Giga Shanghai's wholesale shipments of Made-in-China Model 3/Model Y cars decreased by 7% year-over-year, totaling 72,573 units. This reflects challenging market conditions and fierce competition, leading to price cuts. Despite exceeding 355,000 units in total wholesale sales this year, sales are down compared to the same period last year. The article highlights ongoing challenges faced by Tesla's China-made electric vehicle sales.