06 May 2022 | Lucid’s Big Struggle To Scale
May 06, 2022, 11:05 AM
On the podcast today:
• Lucid keeps 2022 production targets, raises EV prices
• Volvo Cars share of electrified cars increased to 38.4%
• Norway reconsiders electric car privilege
• GM has 4 new plants in the works to 'have control over battery cell manufacture': Mary Barra
• Rivian's policymaking wish list leans into battery supply chain
• Lexus engineering boss: 800-volt system done, electric is the future
• DS electric prototype points to a future of cars without conventional brakes
• Samsung SDI to roll out next-generation batteries in 2023
• Tesla Model Y with larger battery is coming and cheaper than you expect
• Electric buses improve residents’ health
• The hotel that lets you charge your EV – on your balcony
Show #1457
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 Friday 6th May, it’s Martyn Lee here and I go through every EV story so you don't have to.
LUCID KEEPS 2022 PRODUCTION TARGETS, RAISES EV PRICES
- Lucid Group Inc. shares edged higher late Thursday after the EV maker reported a narrower-than-expected first-quarter loss and said its production volume remains on track despite ongoing supply-chain problems.
- Lucid lost $81 million, or 5 cents a share, in the quarter, compared with a loss of $2.9 billion, or $89.29 a share, in the year-ago quarter. Revenue reached $58 million, from $313,000, thanks to the delivery of 360 vehicles, Lucid said.
- There’s “strong demand” for the Lucid Air, the EV maker’s luxury electric sedan, and reservations have topped 30,000, Lucid said. That translates to potential sales of $2.9 billion, it said.
- Lucid kept its 2022 production volume outlook of between 12,000 vehicles and 14,000 vehicles.
- The EV maker also announced price increases on most of its electric vehicle models beginning June 1. Current prices will be honored for existing reservations and any reservation made by May 31, Lucid said.
- The Air will start at $87,400 for a base model and go up to $154,000 for the grand touring model, the company said. A “grand touring performance” model, announced two weeks ago, will remain at $179,000, Lucid said.
- $5.4 billion of cash on hand
Original Source : https://www.marketwatch.com/story/lucid-keeps-2022-production-targets-raises-ev-prices-11651783431?mod=mw_quote_news
VOLVO CARS SHARE OF ELECTRIFIED CARS INCREASED TO 38.4%
- Volvo Cars reports sales of 47,150 cars in April, down 24.8 per cent compared with the same month last year. Demand is still strong, especially for Volvo Cars’ electrified vehicles and the share of Recharge models as part of total sales continues to increase.
- In April Volvo Cars electrified Recharge models grew 18.7 cent compared with the same month in 2021 accounting for 38.4 per cent of total sales. The share of fully electric cars stood at 10 per cent.
- European sales for April reached 19,822 cars, down 23.2 per cent compared with the same month last year. Volvo’s electrified Recharge sales accounted for 51.4 per cent of the total sales in the region during the month.
- Volvo Cars’ US sales for the month reached 10,022 cars, down 9.2 per cent compared with April last year, with Recharge models making up 44.1 per cent of the total sales.
Original Source : https://www.media.volvocars.com/global/en-gb/media/pressreleases/298730/volvo-cars-reports-sales-of-47150-cars-in-april-share-of-electrified-cars-increased-to-384
NORWAY RECONSIDERS ELECTRIC CAR PRIVILEGE
- The Norwegian Ministry of Transport is considering abolishing or reducing privileges for electric vehicles in taxes and tolls in larger cities.
- According to Transport Minister Jon-Ivar Nygård, the reasons are not only lower revenues but also a delay in the transport turnaround. “It’s great that people use electric cars. But it’s not good if people get into their cars and drive to busy urban areas instead of walking, cycling or using public transport,” the transport minister is quoted as saying. However, a final decision on the matter is still pending, the minister told broadcaster NRK.
- According to the current legal situation, the tax rate for electric cars is less than 50 per cent of the tax on comparable petrol or diesel cars. At the time of purchase, there is no value-added tax of 25 per cent. In addition, tolls and parking fees are lower in many places. Subsidies for hybrid cars, on the other hand, have already expired.
- . As NRK reports, there is a lack of money for investments in infrastructure projects or public transport due to declining revenues as the share of electric cars increases.
GM HAS 4 NEW PLANTS IN THE WORKS TO 'HAVE CONTROL OVER BATTERY CELL MANUFACTURE': MARY BARRA
- In the years ahead, GM (GM) says, it's aiming to be a leading manufacturer of batteries as well as cars.
- “For electric vehicles, it's all about the battery,” CEO Mary Barra told Yahoo Finance in a wide-ranging interview this week.
- The CEO outlined plans to open at least four new plants just to manufacture batteries that power the company's electric vehicles.
- “We decided that we wanted to have control over battery cell manufacture so we formed a joint venture with LG, one of our partners, and we now have a plant coming online this year in Ohio, another one coming online next year, the following year, and one after that,” she says.
- They have three locations under construction. A Warren, Ohio plant will begin production this August; a Spring Hill, Tennessee location is set to follow in 2023 and one in Lansing, Michigan begins in 2024. The Michigan plant alone is a $2.6 billion investment. According to GM, a fourth plant whose location has yet to be announced will be up and running in 2025.
- The White House got involved in the effort this week, announcing over $3 billion to help companies like GM and others with the battery shortage. Story continues. A Biden official behind the effort noted to Yahoo Finance Monday that automakers will be a key beneficiary.
- A GM spokesperson told Yahoo Finance that the company, which has close ties with the Biden White House, "is actively pursuing opportunities to localize as much of the EV and battery supply chain as possible and, as such, we are reviewing the battery-related Funding Opportunity Announcements authorized by the U.S. Department of Energy under the Bipartisan Infrastructure Law (BIL)."
Original Source : https://finance.yahoo.com/news/gm-has-4-new-plants-coming-mary-barra-130652246.html
RIVIAN'S POLICYMAKING WISH LIST LEANS INTO BATTERY SUPPLY CHAIN
- The U.S. has the mineral resources and industrial capability to create a fully domestic battery EV supply chain, but it will take a massive “all of the above” mobilization of the federal government to make it happen, a Rivian official told Congress.
- Rivian senior director for public policy Chris Nevers testified recently in front of a House Science, Space, and Technology subcommittee. Nevers laid out the electric automaker’s policymaking wish list if the federal government wants to make transportation electrification a priority.
- “The federal government can achieve ambitious electrification objectives by empowering companies to ramp production – this includes accelerating EV testing procedures, expediting and streamlining federal EV fleet requirements, and quickly providing visas for skilled workers,”
- Supply chain challenges are a major constraint on Rivian’s manufacturing plant in Normal, which has over 5,000 workers and is McLean County’s second-largest employer. Production there is expected to hit 25,000 vehicles in 2022 – about half of what it could be if not for a shortage of chips and other materials.
- Rivian’s policymaking wish list for Congress includes:“Increase and accelerate” federal research efforts into new battery cell chemistry development, solid-state batteries, module and pack engineering, software design, and raw material sourcing.Reform domestic mining laws, some of which Rivian says date back to the 1870s, with an emphasis on conflict avoiding and permitting efficiency.Expand the federal consumer EV tax credit “without unnecessary limitations.”Create “exceptions” to state auto dealer franchise laws, which Rivian calls dealership “protection laws.” Rivian is fighting those laws on a state-by-state basis, calling them “one of the biggest barriers to EV adoption in the U.S.”
Original Source : https://www.wglt.org/local-news/2022-04-28/in-testimony-to-congress-rivians-policymaking-wish-list-leans-into-battery-supply-chain
LEXUS ENGINEERING BOSS: 800-VOLT SYSTEM DONE, ELECTRIC IS THE FUTURE
- In an interview with Lexus chief engineer Takashi Watanabe at a prototype drive for the 2023 Lexus RZ 450e in Barcelona, Spain, Green Car Reports learned about the automaker’s thinking on electrical architectures, charging rates, and the electric future.
- Watanabe said that for the automaker to realistically hit carbon neutrality, battery electric is the proper solution.
- The key will be how efficiently we can manipulate and use electricity. And the challenge is “how small a battery can we get away with to achieve these goals,” Watanabe said.
- When asked if Toyota and Lexus have finished work on an 800-volt electrical architecture, Wantanabe answered quickly: “Yes.” ut the first electric Lexus sold in the U.S., the 2023 RZ 450e, will not feature such an electric architecture or charge rate. The max charge rate of its 71.4-kwh battery pack will be 150 kw and it charges and runs at about 400 volts.
- For Toyota and Lexus it’ll be viewed upon a “case-by-case basis,” Watanabe said.
The breakover point will be about 100 kwh, according to Watanabe. That’s where charging rates will need to be faster and the electrical architecture will benefit from 800 volts.
- When asked what is possible in terms of upgrading the RZ, or other electric cars, via over-the-air updates Watanabe said, “right now we’re not trying to put any limitations or restrictions on what’s possible through OTA.”
The executive elaborated by saying for instance electric motor control, charging, supporting systems, or new value services can all be enhanced using OTA technology.
Original Source : https://www.greencarreports.com/news/1135746_lexus-engineering-boss-800-volt-system-done-electric-is-the-future
DS ELECTRIC PROTOTYPE POINTS TO A FUTURE OF CARS WITHOUT CONVENTIONAL BRAKES
Original Source : https://newspressuk.com/publicReleaseView/102524/58102?email_encrypt=aGVsbG9AZXZuZXdzZGFpbHkuY29tRW1haWxIYXNo&token=ht9LdO8lLOyDcMqgxzo4
SAMSUNG SDI TO ROLL OUT NEXT-GENERATION BATTERIES IN 2023
Original Source : https://www.upi.com/Top_News/World-News/2022/05/02/Samsung-SDI-batteries-South-Korea/2371651498389/
TESLA MODEL Y WITH LARGER BATTERY IS COMING AND CHEAPER THAN YOU EXPECT
Original Source : https://www.pocket-lint.com/cars/news/tesla/160762-tesla-model-y-with-larger-battery-is-coming-and-cheaper-than-you-expect
STUDY FINDS REDUCTION OF LOW-FREQUENCY NOISE FROM TRANSITION TO ELECTRIC BUSES IMPROVED RESIDENTS’ HEALTH - Green Car Congress
Original Source : https://www.greencarcongress.com/2022/05/20220502-gothenburg.html
THE HOTEL THAT LETS YOU CHARGE YOUR EV – ON YOUR BALCONY
QUESTION OF THE WEEK WITH EMOBILITYNORWAY.COM
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