02 Feb 2022 | GM, Ford Forced To Accelerate EV Investments
Episode 1362, Feb 02, 2022, 05:05 PM
On the podcast today:
• General Motors earnings Q4 2021
• 2021 Full-Year and Q4 Letter to Shareholders
• Ford will spend up to $20 billion more in shift to electric vehicles
• U.S. EV charging network is more robust but provider differences remain
• Magna eDrives Hit the Market on Volkswagen MEB Platform
• Insider Q&A: JB Straubel, CEO of recycler Redwood Materials
• Daimler to deploy nationwide US electric trucking network
• Lightyear One solar EV boasts remarkable high speed efficiency
• NSW to co-fund 1,000 electric vehicle charging stations
• India To Soon Have Battery Swapping Policy
• Alpine to build electric crossover at Dieppe plant from 2025
• EV start-up WM Motor: China's Covid lockdown rules send prices higher
• Billionaire 'cable cowboy' plugs in to electric car charging
• Michigan finalizing plan to build first-ever wireless charging road for electric cars
Show #1362
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Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Wednesday 2nd. It’s Martyn Lee here and I go through every EV story so you don't have to.
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RSEV Open Day
EV display and first big owners meet of the year. BIG EV Meet at our South Coast Warehouse! ALL EV owners, enthusiasts, curious and even sceptics welcome! A huge display of LOTS OF DIFFERENT EVs - COME AND SHOW YOUR CAR! INCLUDES EVERY SINGLE TESLA AVAILABLE TO DATE: S.3.X.Y.R. Yes the Model Y is included and yes we have an original Roadster! We collect ours THAT MORNING AT 8AM. Many new Model Y owners collecting cars that day - come and mingle.
Saturday, 19 February 2022 from 10:00-16:00 UTC
GENERAL MOTORS EARNINGS Q4 2021
General Motors said it expects to generate an operating profit this year of between $13 billion and $15 billion as a semiconductor shortage that marred vehicle production and sales for most of last year shows signs of improving.
Net income this year is expected to be between $9.4 billion and $10.8 billion, also in line with its $10 billion profit in 2021, GM said.
Barra said the company is not reinstating its dividend, which the automaker cut during the early days of the coronavirus pandemic in April 2020. She said the company plans to use the saved capital for accelerating, even increasing, its $35 billion in investments in electric and autonomous vehicles through 2025.
“We are pulling ahead significant investment into the 2022-to-2025 time frame, and we will share more details as we further refine our plan,” Barra told analysts during a call Tuesday.
the company will announce a third plant to produce battery-electric trucks in the foreseeable future as well as the location of a fourth production facility for battery cells with LG
2021 FULL-YEAR AND Q4 LETTER TO SHAREHOLDERS
Since 2020, we have announced investments totaling more than $14 billion in 10 sites across North America to increase our manufacturing capacity in the region to more than 1 million EVs annually by the end of 2025.
In late 2021, we opened Factory ZERO in Detroit and Hamtramck, our first plant dedicated to Ultium products, including the GMC HUMMER EV
We are converting a plant in Orion Township, Michigan, to EV truck production to help provide us with a total of 600,000 units of EV truck capacity in North America by the end of 2025.
Ultium Cells, our joint venture with LG Energy Solution, announced its third U.S. cell plant
More than 110,000 Silverado EVs are reserved so far, including reservations from more than 240 fleet operators, and the numbers keep growing.
FedEx Express, Merchants Fleet and Walmart, are adopting BrightDrop’s electric vehicles and technology to make their delivery operations more efficient. All told, we have more than 25,000 production reservations for BrightDrop cargo vans.
Customer interest in the LYRIQ is now so strong that we will forgo a new round of reservations and begin taking customer orders soon after the Debut Edition launches in March.
Equinox EV is compellingly new, and it’s affordable, with an estimated starting MSRP of $30,000. The efficiencies created by the Ultium Platform are a key reason why we can deliver truly affordable EVs like the Equinox.
FORD WILL SPEND UP TO $20 BILLION MORE IN SHIFT TO ELECTRIC VEHICLES
Ford will spend as much as $20 billion to reorganize its business for the electric future, according to Bloomberg. The automaker is also mulling whether to spin off some of its EV business as a special acquisition company (SPAC) in order to attract more investment. Ford has previously stated that it would spend $30 billion on electric and autonomous vehicle development by 2025.
Ford is reportedly putting former Apple and Tesla executive Doug Field in charge of the reorganization, which will include converting its factories from gas-powered to electric vehicle production and hiring more engineers.
Ford recently announced that it was doubling production of its upcoming electric pickup truck, the F-150 Lightning, and tripling production for the Mustang Mach-E, with the expectation that it will reach over 200,000 units per year by 2023. Ford’s electric delivery van, the E-Transit, also goes on sale early this year.
He had a previous stint at Apple, where he was once the VP of Mac hardware engineering, but he left the company in 2013 to become Tesla’s chief vehicle engineer, where he helped oversee the troublesome development of the Model 3 sedan.
U.S. EV CHARGING NETWORK IS MORE ROBUST BUT PROVIDER DIFFERENCES REMAIN
significant differences in reliability and performance remain between providers, an industry ranking by engineering consulting firm umlaut found.
The group tested chargers by Volkswagen's (VOWG_p.DE) Electrify America, ChargePoint (CHPT.N), EVgo (EVGO.O), Blink Charging (BLNK.O), EVconnect, Greenlots and Tesla's (TSLA.O) Superchargers across seven U.S. states in September.
Electrify America reached the highest score in the ranking, followed by Tesla's Supercharger and ChargePoint, said umlaut, which was acquired by Accenture (ACN.N) in October.
The ranking considered the technical performance of chargers, as well as the charging station environment, such as lighting, roofing and nearby amenities.
It also took into account the performance of charging networks' apps
The group used a Tesla Model 3 and a Ford (F.N) Mach-E for its 2021 tests
Last year, EVs accounted for around 2% of all new car sales
MAGNA EDRIVES HIT THE MARKET ON VOLKSWAGEN MEB PLATFORM
The HASCO Magna Electric Drive Systems Co., Ltd. (HME) team in China has started high-volume serial production of secondary eDrive systems for the Volkswagen ID.4 electric crossover, one of the automaker's vehicles on the MEB platform.
HME is the global supplier of secondary eDrives for Volkswagen’s all-wheel drive MEB models with power greater than 185kW. The highly integrated eDrive system is specifically optimized for secondary eDrives for electrified vehicles.
The system integrates an induction-type e-motor, an integrated single-speed gearbox, a high-voltage inverter and the corresponding software and controls. It also provides 80 kW of peak power to the front wheels and features best-in-class drag torque, which optimizes efficiency.
INSIDER Q&A: JB STRAUBEL, CEO OF RECYCLER REDWOOD MATERIALS
DAIMLER TO DEPLOY NATIONWIDE US ELECTRIC TRUCKING NETWORK
LIGHTYEAR ONE SOLAR EV BOASTS REMARKABLE HIGH SPEED EFFICIENCY
NSW TO CO-FUND 1,000 ELECTRIC VEHICLE CHARGING STATIONS
INDIA TO SOON HAVE BATTERY SWAPPING POLICY
ALPINE TO BUILD ELECTRIC CROSSOVER AT DIEPPE PLANT FROM 2025
EV START-UP WM MOTOR: CHINA'S COVID LOCKDOWN RULES SEND PRICES HIGHER
BILLIONAIRE 'CABLE COWBOY' PLUGS IN TO ELECTRIC CAR CHARGING
MICHIGAN FINALIZING PLAN TO BUILD FIRST-EVER WIRELESS CHARGING ROAD FOR ELECTRIC CARS
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