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☆ Rivian’s founder had an early advantage with his electric truck. Now rivals GM and Ford are closing in
▼ + stars: | 2022-11-22 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +11 min

Even now, as the company’s assembly lines have started churning out its electric vehicles, success still isn’t assured. The 39-year-old is running the car company he founded, building electric vehicles he helped engineer and design. A Rivian R1T pickup truck at the company's manufacturing facility in Normal, Illinois. Robert Joseph "RJ" Scaringe, Rivian's founder and CEO, said he had wanted to start a car company since he was a child. In 2021, Ford revealed the F-150 Lightning electric truck, which went into production this year.

☆ Vietnamese EV maker VinFast to supply 2,500 units to U.S. car subscription service Autonomy
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

"VinFast will begin delivering vehicles to Autonomy over the next 12 months," the companies said in a joint statement, noting Autonomy had initially ordered just 400 units in August. Autonomy allows users to subscribe to the use of one of their EVs, rather than having to buy or lease a car. VinFast has registered almost 65,000 reservations globally, and it expects to sell 750,000 EVs per year by 2026. In March, VinFast said it would build a production plant in North Carolina with an initial projected capacity of 150,000 EVs a year. According to the statement, VinFast is planning to showcase two new EV models, VF 6 and VF 7 at the upcoming Los Angeles auto show this week.

☆ Toyota's new Prius has a little more MPG but lots more power
▼ + stars: | 2022-11-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Toyota unveiled an all-new version of its famous Prius hybrid car Wednesday just ahead of the Los Angeles Auto Show. With its batteries fully charged, the new Prius Prime will go at least 50% farther without burning any gasoline as today’s Prius Prime does, according to Toyota. It will be able to produce up to 220 horsepower, 100 horsepower more than today’s Prius Prime. Almost every vehicle in Toyota’s line-up is now available with hybrid power. Along with the Prius, Toyota also unveiled the Toyota BZ Compact SUV concept.

☆ Fisker confirms production of the Ocean SUV will start later this month, now has over 62,000 reservations
▼ + stars: | 2022-11-02 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker said Wednesday it is on track to begin production of its first model, the Ocean SUV, later this month as planned — and that it now has more than 62,000 reservations for the vehicle, up from over 56,000 as of early August. CEO Henrik Fisker told CNBC the company plans to manufacture 42,400 Oceans by the end of next year. The majority of those vehicles will be built in the second half of 2023, Fisker said. Fisker said that work on its second model, a low-cost EV called the Pear, is progressing ahead of schedule.

☆ Porsche IPO has two investor roadblocks to clear
▼ + stars: | 2022-09-16 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

The 2020 Porsche 911 Carrera 4S is introduced during a Porsche press conference at the Los Angeles Auto Show in Los Angeles, California, U.S., November 28, 2018. Porsche’s valuation rests on how closely it can mimic peer Ferrari (RACE.MI), and what discount should be applied to its complex governance. VW’s influence in Porsche will be diluted by Porsche SE’s stake. Volkswagen will divide Porsche’s shares into voting ordinary and preferred shares, which carry no voting rights. Porsche’s valuation is likely to be between 70 billion euros and 80 billion euros, Reuters reported, citing a source close to the matter.

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