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☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +8 min

So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.

Persons: Marin Gjaja, We’re, “, Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, ” Organizations: DETROIT, Ford, CNBC, North America, EV, “, ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China, ”

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.

Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China

☆ An alphabet soup of 'electrified' vehicles awaits new car buyers as EV sales stall
▼ + stars: | 2024-06-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

A car shopper today has their pick of traditional internal combustion engine (ICE) vehicles; mild-hybrid electric vehicles (MHEVs); hybrid electric vehicles (HEVs); plug-in hybrid electric vehicles (PHEVs); fuel cell electric vehicles (FCEVs) and battery-electric vehicles (BEVs), also commonly known as EVs. Here's a breakdown: Internal combustion engine (ICE): A "traditional" vehicle with an engine that's fueled with gasoline or diesel. Hybrid electric vehicle (HEV): Think of the Toyota Prius, a vehicle that has a hybrid powertrain system combined with an engine. Plug-in hybrid electric vehicle (PHEV) : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery. : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery.

Persons: Paul Waatti, Heather Seymour, Seymour, Stellantis, Waatti, Michael Wayland, Antonio Filosa, Russell Wager, Jérémie Papin, BEV Organizations: DETROIT —, Pacifica, Toyota, CNBC, Motors, Chevrolet, Kia America, EV, Kia, GM, Detroit, GM Energy, Ford Motor, Auto, Nissan, ICE, Toyota Prius Locations: U.S, Stellantis, St, Johns , Florida, Detroit, Japan, South Korea, Germany

☆ Tesla loses its EV quality edge as repair problems continue to plague the market
▼ + stars: | 2024-06-27 | by ( Justine Fisher | ) www.cnbc.com time to read: +3 min

A dog looks out the window from a Tesla electric vehicle charging at a Tesla Supercharger location in Santa Monica, California on May 15, 2024. Last year, the U.S. EV leader received a rank of 257 problems per 100 vehicles, compared with 265 problems per 100 vehicles on average for EVs from traditional automakers. Across the broader industry, not just BEVs, Tesla has consistently ranked toward the bottom in initial quality since J.D. BEVs averaged 266 problems per 100 vehicles, 86 points higher than gas- and diesel-powered vehicles, which averaged 180 problems per 100 vehicles, according to the study. "It is not surprising that the introduction of new technology has challenged manufacturers to maintain vehicle quality," Hanley said.

Persons: Tesla, Power, Power Frank Hanley, Hanley, — CNBC's Michael Wayland Organizations: J.D, Tesla, Auto, Apple, Android Locations: Santa Monica , California, J.D ., U.S

☆ Kia says hybrids aren't a threat to EVs but are the perfect gateway to electrification
▼ + stars: | 2024-06-11 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +5 min

While EV sales fell in the first quarter of 2024 by more than 15% compared to the previous three months — their first drop since 2020 — hybrid sales are booming. But Kia sees hybrids as an opportunity to get potential BEV buyers in the door. AdvertisementBut if you look at the largest and arguably most important segment these days, compact SUVs, hybrids account for nearly one-fifth of sales, Kosowski said. AdvertisementFor Kia, building hybrids instead of EVs affects its bottom line beyond the revenue it generates. EVs cost substantially more to build than ICE and hybrid vehicles.

Persons: —, Steve Kosowski, Kia, Kosowski, Kia Niro, ROBIN TRAJANO, BEV, ZEV Organizations: Service, Business, Long, Kia Motors America, EV, Kia, ICE Locations: PWC

☆ Jeep expects to grow plug-in hybrid SUV sales by as much as 50% in 2024
▼ + stars: | 2024-06-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A Jeep Wrangler plug-in hybrid electric vehicle (PHEV) during the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 5, 2023. NEW YORK – Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as it leans into the technology as a bridge between its traditional gas-guzzling SUVs and all-electric vehicles amid a slower-than-expected sales pace of EVs. The Stellantis brand expects to sell 160,000 to 170,000 plug-in hybrid electric vehicles, or PHEVs, in the U.S. this year, an increase of 40% to 50% from last year, Jeep CEO Antonio Filosa told CNBC. "One of the pillars of growth for the market is going to be freedom of choice." PHEV sales at the level Jeep is expecting this year would top Stellantis' total 2023 U.S. sales of the vehicles, at roughly 143,000 units.

Persons: Antonio Filosa, Filosa Organizations: New York, Auto, CNBC, Jeep Locations: New York, U.S

☆ Jeep reveals all-electric Wagoneer S in EV offensive, starting at $72,000
▼ + stars: | 2024-05-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

2024 Jeep Wagoneer S EV JeepNEW YORK – The first all-electric Jeep SUV for the U.S. will be the Wagoneer S, starting at about $72,000 when it's scheduled to go on sale this fall. The $71,995 starting price of the Wagoneer S EV sits between gas-powered versions of the Wagoneer, starting at about $63,000, and more luxurious Grand Wagoneer, starting at roughly $92,000. 2024 Jeep Wagoneer S EV JeepHe also said the company will release electric, extended-range versions of the traditional gas-powered Wagoneer and Grand Wagoneer in 2025. 2024 Jeep Wagoneer S EV "R-Wing" JeepDespite sharing the "Wagoneer" name with Jeep's current gas-powered model, the five-passenger, two-row EV shares little with its three-row traditional internal combustion engine counterpart other than some Jeep styling. Stellantis design chief Ralph Gilles during the unveiling of the Jeep Wagoneer S EV on May 30, 2024 in New York City.

Persons: Antonio Filosa, Filosa, Michael Wayland, Jeep, Carlos Tavares, Tavares, " Tavares, Massimo Pinca, Wagoneer, Ralph Gilles, Stellantis, Gilles Organizations: EV, CNBC, Reuters, Cherokee, CNBC Stellantis, U.S, Jeep Locations: U.S, North America, Turin, Italy, PHEVs, Europe, Mexico, New York City

☆ Toyota could introduce electric, plug-in Tacoma and Tundra pickups
▼ + stars: | 2024-03-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Toyota has previously discussed a broad lineup of battery-electric vehicles , or BEVs, including a midsize pickup model like the segment-leading Tacoma. The latest conversations have introduced the potential for plug-in hybrid vehicles, or PHEVs. Whether it be Tundra, Tacoma or something else in addition to the lineup," Hollis told CNBC on Tuesday during the New York Auto Forum conference. NEW YORK — Toyota Motor is evaluating an expansion of its U.S. truck lineup that could include all-electric or plug-in hybrid electric versions of its Tacoma and Tundra pickups. There are not any plug-in hybrid electric pickups currently on sale in the U.S. Stellantis' Ram brand is expected to release an "extended-range" plug-in vehicle with an electric generator powering an engine later this year.

Persons: BEV, Hollis, Jack Hollis, Stellantis, Biden, Muñoz Organizations: Toyota, U.S, Reuters, CNBC, New York Auto Forum, Toyota Motor North, Tacoma, Hyundai, Wednesday Locations: Kentucky, Thailand, Tacoma, Toyota Motor North America, U.S, Georgia

☆ GM to release plug-in hybrid vehicles, backtracking on product plans
▼ + stars: | 2024-01-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors is changing its product lineup strategy to include plug-in hybrid electric vehicles, CEO Mary Barra told investors Tuesday. More companies are reconsidering the viability of hybrid vehicles to appease consumer demand and avoid costly penalties related to those federal fuel economy and emissions standards. Most of GM's main competitors offer traditional hybrids as well as plug-in hybrid electric vehicles. The only hybrid GM currently offers in the U.S. is a traditional hybrid version of the Chevrolet Corvette. GM led the way for plug-in electric vehicles with the Chevrolet Volt during the 2010s.

Persons: Mary Barra, Barra, Biden Organizations: Motors, DETROIT –, GM, Chevrolet Corvette, Chevrolet Locations: Detroit , Michigan, DETROIT, North America, China, U.S

☆ Why automakers are turning to hybrids in the middle of the industry's EV transition
▼ + stars: | 2023-12-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

Sales of traditional hybrid electric vehicles, or HEVs, such as the Toyota Prius, are outpacing those of all-electric vehicles in 2023, according to Edmunds. Sales of plug-in hybrid electric vehicles, or PHEVs, accounted for only 1% of U.S. sales through November. In comparison, Ford's EV sales are up 16.2% to roughly 62,500 units, accounting for 3.5% of its total sales. Battery breakdown Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. The world's largest automaker is considered the pioneer of traditional hybrids, with the Prius.

Persons: Scott Mlyn, Biden, HEVs, EVs, There's, Jessica Caldwell, Edmunds, Morgan Stanley, Eric Watson, Jim Farley's, Jeep Wrangler, Motors, Mary Barra, It's, Mark Reuss, Stephanie Brinley, Akio Toyoda Organizations: CNBC DETROIT —, EV, Toyota Prius, Toyota, Honda Motor, Hyundai, Kia, U.S, Representatives, Kia America, CNBC, Detroit automakers, Detroit, Ford Motor, Ford, Chrysler, Jeep, Cherokee, GM, Chevrolet, Automotive Press Association, National, Traffic Safety Administration, American Automotive Policy Council, Reuters, NHTSA, P Global Mobility . Industry, EVs, Wall Street Locations: Edmunds, U.S, That's, Kia America's, China, Detroit, EVs

☆ Hybrid vehicle sales surge in China, posing fresh threat to foreign automakers
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +6 min

A Li L7 electric SUV by Li Auto is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. One-third of total vehicle sales by Toyota, the world's top-selling automaker, are already hybrids and the company reported a 34% surge in hybrid sales in the six months to end-September, outpacing 9% growth in overall revenue. Sales of HEVs in China, which Toyota still dominates with four top-selling models, tumbled 15%, while gasoline car sales dropped 11%, underscoring potential challenges facing foreign automakers. But it was a failed trial, with sales of just over 4,000 units, and GM in 2020 halted sales. BYD is expanding PHEV sales overseas, offering Han, Qin and Song lineups in Latin America, which has less charging infrastructure.

Persons: Li Auto, Aly, Xu Min, Yale Zhang, BYD, Li, Han, Qin, Stellantis, Leapmotor, Xu, Bill Russo, Zhang Yan, Brenda Goh, Miyoung Kim, Gerry Doyle Organizations: Li, Auto, REUTERS, Rights, Toyota, Honda, Shanghai Jiao Tong University's Institute, Intelligent, Reuters, China Association of Automobile Manufacturers, HK, Automotive Foresight, Reuters Graphics, Prius, General Motors, Buick, GM, Li Auto, Jiao Tong University, HEVs, Thomson Locations: Auto Shanghai, Shanghai, China, Europe, U.S, outpacing, United States, Shanghai Jiao, Reuters Graphics CHINA, America, Leapmotor, North America

☆ Stellantis' new Ram pickup is an EV — with a gas-powered generator in case the battery runs out
▼ + stars: | 2023-11-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

The 2025 Ram 1500 Ramcharger is expected to go on sale in late 2024 alongside a previously revealed all-electric Ram 1500 truck without a gas-powered engine or range-extending electric generator. That range compares with up to an expected 500-mile range of the all-electric Ram 1500 REV pickup. 2025 Ram 1500 Ramcharger Tungsten RamSimilar propulsion technology — referred to as extended-range electric vehicles, or EREVs — is available in overseas markets, specifically China. For the traditional Ram 1500 models, the biggest change is the company is dropping its well-known Hemi V-8. Ram's 2023 Super Bowl ad debuts the production version of the Ram 1500 REV electric pickup that is expected to go on sale in late 2024.

Persons: Ramcharger, Tim Kuniskis, Kuniskis, Stellantis, Stephanie Brinley, It's, Michael Wayland Organizations: DETROIT, U.S . Environmental Protection Agency, P Global Mobility, General Motors, Chrysler, Jeep, Fiat, U.S, Dodge, CNBC, GM, Ford Motor, Chrysler Pacifica minivan, Cherokee Locations: China, Pontiac, Mich

☆ Electric cars are breaking sales records, but here’s why they’re not replacing gas cars anytime soon
▼ + stars: | 2023-08-20 | by ( Christopher Hickey | ) edition.cnn.com time to read: +5 min

More shoppers are choosing electric vehicles so far this year than ever, according to vehicle sales data from Cox Automotive. While EV sales have been growing healthily for the past couple of years, that trend has accelerated this year. The electric vehicle market is entering into a transition period, she said. The average electric vehicle price in July was $53,469, according to Kelley Blue Book, versus an average price of $48,334 across all vehicles. But the number of charging stations still lags behind what is needed to support a wider-scale adoption of electric vehicles.

Persons: Cox, That’s, ”, Stephanie Valdez, Streaty, Chevrolet Bolt, Rivian, BEV, “ We’ve, ” Valdez, Price, Kelley, “ Organizations: Cox Automotive, EV, Streaty, CNN, Alliance for Automotive Innovation, Tesla, Volkswagen, Valdez, US Energy, Ford, EV considerers, US Department of Energy, Alliance, Automotive, Quarterly, California Energy Commission, AAI, District of Columbia, California Air Resources Board Locations: Valdez, California

☆ Electric car sales surged by 55% last year to surpass 10 million, and China led the way: IEA
▼ + stars: | 2023-04-26 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

Electric vehicles from Tesla photographed in China. The world's second largest economy is a major player when it comes to the sale of electric vehicles. "Electric car sales — including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) — exceeded 10 million last year, up 55% relative to 2021," the IEA's report said. In total, it said more than 26 million electric cars were on the world's roads in 2022, which represents a 60% increase relative to 2021. Plug-in hybrid electric vehicles, or PHEVs, have an internal combustion engine as well as a battery-powered electric motor.

☆ VW, Rivian, Nissan, BMW lose access to US EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. VW said it was "fairly optimistic" the ID.4 SUV will qualify for the tax credit. Treasury also disclosed General Motors Co (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVs would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ VW, Rivian, Nissan, BMW lose access to U.S. EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. Treasury also disclosed General Motors (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Earlier, Ford Motor (F.N) and Chrysler-parent Stellantis (STLAM.MI) said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ China's electric car drive, led by BYD, leaves global brands behind
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +4 min

SHANGHAI, April 17 (Reuters) - China's auto market, the world’s largest, is accelerating toward an electric future – leaving established global brands stuck in the slow lane. China’s passenger car sales were down 13% in the first quarter, data from the China Passenger Car Association show. But sales of EVs and plug-in hybrids – an area where Chinese automakers led by BYD now dominate – were up 22%. BYD dominates China’s market for plug-in hybrids, cars that have a combustion engine but are capable of being charged and running for shorter distances on electric power. In a further threat to established brands, China’s exports are growing fast, led by EVs and PHEVs.

☆ GM reveals new Chevy Corvette E-Ray hybrid sports car, starting at over $104,000
▼ + stars: | 2023-01-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2024 Chevrolet Corvette E-Ray hybrid sports car GMDETROIT – General Motors' first-ever "electrified" Corvette will be available later this year starting at more than $104,000, the automaker said Tuesday. 2024 Chevrolet Corvette E-Ray hybrid sports car GMThe E-Ray is expected to be the only hybrid in GM's lineup when it arrives in dealer showrooms. The hybrid system was specifically designed for the eighth-generation Corvette, according to Harlan Charles, Chevrolet Corvette product marketing manager. GM decided on a hybrid Corvette instead of a PHEV because it offered better overall performance for the car. 2024 Chevrolet Corvette E-Ray hybrid sports car GM"The mission of this vehicle was performance, performance, performance," said Mike Kociba, lead Corvette development engineer.

☆ New York City buying more than 900 EVs for government fleets
▼ + stars: | 2023-01-05 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The announcement is the latest by a U.S. government agency to speed the shift away from gas-powered vehicles to EVs. New York City currently has more than 4,000 government-owned electric vehicles and by later this year says close to 20% of city vehicles will be EVs. "Electric vehicles, they are clearly the future," New York Mayor Eric Adams said on Wednesday. New York City has about 26,000 government vehicles in service. USPS said it plans to buy at least 66,000 electric vehicles through 2028 after committing in July to buying 25,000 next-generation electric delivery vehicles.

☆ 2023 Volvo S60 Recharge: The Tailpipe Wags the Dog
▼ + stars: | 2022-11-04 | by ( Dan Neil | ) www.wsj.com time to read: +1 min

HYBRID BY DEGREES For 2023, the Volvo S60 is available with one of two engine packages: the B5, a lightly hybridized version of the company’s turbocharged 2.0 liter four-cylinder (247 hp); or the Recharge T8 plug-in hybrid, entraining a 143-hp rear electric motor paired with a heavily breathed-upon version of the turbo 2.0-liter (312 hp). Net system output is 455 hp and 523 lb-ft.RONALD REAGAN famously said, “If you’re explaining, you’re losing.” I feel like I’m about to do some epic losing. Our guest is the 2023 Volvo S60 Recharge T8 Black Edition, a plug-in hybrid electric version of the company’s compact premium sedan, which is fresh from a mid-lifecycle face-lift. See, I’m already in the weeds. It’s a can of worms.

☆ California regulator sees 2035 EV mandate as 'sweet spot'
▼ + stars: | 2022-09-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

CARB said the rules will reduce smog-causing pollution from light-duty vehicles by 25% by 2037 and result in 9.5 million fewer conventional vehicles sold by 2035. California was not as aggressive as some environmental groups wanted, or Tesla (TSLA.O), which urged ending new gas-powered vehicles by 2030. California needs a waiver from the U.S. Environmental Protection Agency to adopt the 2035 rules, which will open the request for public comment. Some states that previously adopted California's zero emission vehicle rules have not yet signed on for the tougher 2035 phase-out date. A spokesman for Colorado's environmental agency told Reuters, "Colorado is certainly not California and Colorado has our own plan."

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