DIRS.INFO The most relevant business & tech news

[1/3] A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File PhotoJune 26 (Reuters) - British luxury carmaker Aston Martin (AML.L) has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group (LCID.O) a 3.7% stake in the company in return for access to its "high performance" technology, Aston Martin said on Monday. Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. Smaller carmakers such as Aston Martin are more reliant on partnerships to make the transition. Lucid and Aston Martin have a common shareholder in Saudi Arabia's Public Investment Fund (PIF).

Persons: Hyunjoo Jin, Aston Martin, Lucid, Aston Martin's, PIF, Aby Jose Koilparambil, Rashmi Aich, Barbara Lewis Organizations: REUTERS, Lucid, Mercedes, Benz, Aston, Public Investment Fund, U.S, Tesla Inc, Thomson Locations: Scottsdale , Arizona, U.S, Aston Martin, Saudi, Bengaluru

☆ US luxury EV maker Lucid set to enter China market
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Arizona Governor Doug Ducey speaks at the Lucid Motors plant in Casa Grande, Arizona, U.S. September 28, 2021. REUTERS/Caitlin O'HaraSHANGHAI, June 8 (Reuters) - U.S. luxury electric vehicle (EV) maker Lucid Group (LCID.O) is preparing to enter the world's largest auto market, its head of China operations Zhu Jiang said on Thursday. He declined to comment on any plans for local production. Zhu said the funding would help Lucid "bring the advanced EV technology and product experience to the industry and users globally at a faster pace." Lucid, like its peers, is battling mounting losses and tightening cash reserves amid recession fears and a price war sparked by market leader Tesla (TSLA.O).

Persons: Doug Ducey, Caitlin O'Hara SHANGHAI, Zhu Jiang, Zhu, Ford, Tesla, Peter Rawlinson, Zhang Yan, Zhuzhu Cui, Brenda Goh, Jamie Freed Organizations: Arizona, Lucid, REUTERS, Reuters, Baidu, HK, Saudi Arabia's Public Investment Fund, Air, Thomson Locations: Casa Grande , Arizona, U.S, China, Saudi

DETROIT, June 2 (Reuters) - General Motors Co (GM.N) Chief Executive Mary Barra had a message on Friday for investors and rivals who see no profitable future in autonomous vehicles: You're wrong. That target assumes deployment of Cruise technology and services outside the United States - Dubai and Japan are among the future markets - as well as expansion into goods delivery and personal autonomous vehicles, Barra said. Rivals, including Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE), have pulled the plug on autonomous vehicle efforts as losses mounted. Barra said those states have a more welcoming regulatory environment for self-driving vehicles. GM has petitioned U.S. vehicle safety regulators to deploy up to 2,500 of its Origin vehicles, which have subway-like doors and no steering wheel.

Persons: Mary Barra, Barra, Sanford Bernstein, Cruise, Joe White, Tiwary, David Shepardson, David Holmes Organizations: DETROIT, General Motors Co, Cruise, GM, Rivals, Ford Motor, Volkswagen AG, Traffic Safety Administration, NHTSA, Chevrolet, Cadillac, Tesla Inc, EV, Thomson Locations: GM's, United States, Dubai, Japan, San Francisco, Arizona and Texas, Washington, U.S, China

☆ US shares of EV makers skid after Lucid, Fisker target cuts
▼ + stars: | 2023-05-09 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

REUTERS/Steve... Read moreNEW YORK, May 9 (Reuters) - Cuts to production forecasts by Lucid Group Inc (LCID.O) and Fisker Inc (FSR.N) slammed shares of electric-vehicle makers in early trading on Tuesday, with Lucid down about 9%. Fisker shares were last down 5.3% after the company reported quarterly results earlier on Tuesday and cut its production forecast for 2023. That added to the bearish news for the industry from late Monday, when Lucid reported quarterly revenue that missed analysts' expectations and trimmed its 2023 production forecast. Its shares were down 9.1% in strong early trading volume and on track for their biggest daily percentage drop since Feb. 23. The analysts also reiterated their "buy" rating on Lucid, but lowered their price target to $10.

☆ More and more Americans don't want electric cars
▼ + stars: | 2023-05-01 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Americans are getting more divided on electric vehicles. While EVs gain market share, more and more people say don't want one as their next car. Battery-powered cars seem like the next big thing, but a growing portion of Americans aren't ready to give up internal combustion. The percentage of Americans who say they're "very unlikely" to buy an electric vehicle as their next car is growing, according to JD Power, which keeps close tabs on consumer sentiment around EVs. "Top-line metrics on overall EV market share, availability and affordability have been on a long-term upward trend," the market research firm said.

☆ Hyundai Shows Off 'Crab-Driving' Tech in Ioniq 5 Prototype: Video
▼ + stars: | 2023-04-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Hyundai showed off a new technology called e-Corner in a recent video. Hyundai Mobis, the carmaker's parts division, released a new video of a technology it's developing called e-Corner. The clip shows a Hyundai Ioniq 5 electric vehicle pull up directly beside an open parking spot, turn all four wheels perpendicular to the curb, and just scoot right on in. Once again, the Ioniq 5 swivels its wheels outward, but this time the front and rear wheels spin in opposite directions, making the Ioniq 5 spin in place. Later in the video, the Ioniq 5 does a "pivot turn," where the front-right wheel stays in place while the back of the vehicle swings outward.

☆ The $25,000 electric vehicle is coming, with big implications for the auto market and car buyers
▼ + stars: | 2023-04-16 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

And as the Biden administration pushes changes that seek to aggressively remake the car market in favor of EVs more quickly than previously anticipated. Tesla's lowest-priced model today is the Model 3 base MSRP of $41,990. There are also more financing options available in the auto loan market designed specifically for environmentally friendly cars. "There's nothing wrong with having a basic car as a first car. Tesla said its overall efforts have driven the cost of drive units, which include the car's electric motor, as low as $1,000.

☆ Where EV trucks are going to hit the road first
▼ + stars: | 2023-02-10 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +5 min

Due to the limitations that EV truck batteries face in mileage range, they're best suited for drayage transportation, or the movement of goods across short distances. So, trucking companies are making efforts to develop short-haul EV trucks and put them to use at ports and intermodal logistics facilities. How electric trucks navigate long-haul shipping is one of the main issues that the trucking industry faces as it looks to expand EV usage. Performance Team, a subsidiary of shipping giant Maersk, deployed Volvo short-haul EV trucks in Southern California for distribution facilities and warehouses starting last October. Regardless of how these EV trucks are being deployed to lower carbon emissions, the goal is also for them to save the trucking companies money.

☆ Japan's Suzuki to invest $35 bln through 2030 in EVs
▼ + stars: | 2023-01-26 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +2 min

Suzuki's announcement comes after other Japanese automakers have rolled out similar goals to catch up with European and U.S. rivals in the fast-growing battery EV market. Suzuki said it would introduce its first battery EVs, including small sport-utility vehicles and micro "kei" cars, in Japan in fiscal 2023. Suzuki plans to introduce battery EVs in Europe and India, and its first battery electric motorcycles globally, the following year. Suzuki plans to learn from Toyota how to use EV technology to make small electric cars, Suzuki said during a visit to India this month. "We will put in vehicles for various price ranges, for various people, for various regions," Toshihiro Suzuki said.

☆ Japan's Suzuki to invest $35 bln through FY 2030
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 26 (Reuters) - Japan's Suzuki Motor Corp (7269.T) said on Thursday it will invest a total of 4.5 trillion yen ($34.79 billion) in research and development as well as in capital expenditure as part of its growth strategy through fiscal 2030. The Japanese automaker said it would invest 2 trillion yen to facilitate electrification and autonomous driving technologies, while allocating 2.5 trillion yen to build battery electric vehicle plant and for renewable energy facilities. Suzuki said it is going to introduce its first battery electric vehicle automobiles in Japan in the financial year 2023, and in the financial year 2024 in Europe and India. It is also seeking to introduce its first battery electric motorcycles globally in financial year 2024. ($1 = 129.3500 yen)Reporting by Satoshi Sugiyama and Daniel Leussink; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ For automakers, the EV surge is everything everywhere all at once
▼ + stars: | 2023-01-26 | by ( Joseph White | ) www.reuters.com time to read: +4 min

He must accelerate the Japanese automaker's efforts to develop more competitive electric vehicles. But he will get little breathing room from Tesla or the Chinese EV manufacturers who are using their leads in EV technology and production costs to slash prices. THE SHIFTING GROUNDGlobal automakers are experienced with periods of feast and famine that come on roughly seven-to-ten year cycles. South Korea's Hyundai Motor Co (005380.KS) on Thursday reported better-than-expected results powered in part by strong sales of its new EV lineup. Hyundai forecast its EV sales would grow by 54% this year - a faster growth pace than Tesla has forecast.

☆ EV startup Canoo claims former execs joined the company just so they could steal its secrets — and launch a rival automaker
▼ + stars: | 2022-12-27 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Electric vehicle maker Canoo is suing some of its former employees who launched a rival company. Canoo claims the employees used Canoo trade secrets and IP for their new startup, Harbinger. Harbinger, a Los Angeles-based EV-maker that launched in September, is led by a team of former Canoo, Faraday Future, and QuantumScape executives. A Canoo spokesperson told Insider in a statement Tuesday that, "As this lawsuit demonstrates, we take the protection of our IP seriously." Several former Canoo employees have announced plans to join Harbinger on LinkedIn in recent months.

☆ How electric air taxis could shake up the airline industry in the next decade
▼ + stars: | 2022-12-03 | by ( Mikaela Cohen | ) www.cnbc.com time to read: +5 min

Companies across the U.S., including several startups, are developing electric air taxis that aim to take cars off the road and put people in the sky. In October, Delta Air Lines joined the list of airlines backing EV technology startups, with a $60 million investment in Joby Aviation, a company developing electric vertical takeoff and landing aircraft (eVTOLs), intended to operate as an air taxi service. In 2021, when Joby announced its plan to launch its Uber-like air taxis by 2024, it generated criticism from industry analysts on the ability to launch by that date. One is for $15 million with Eve Air Mobility for 200 aircraft, and another for $10 million with Archer Aviation for 100 eVTOLs. Air taxis could hit markets in the 2030sWhile major airlines enter agreements with global startups, it's important to remember these are conditional.

☆ Review: I drove the $2.1 million Rimac Nevera electric supercar. It felt like piloting an ultra-luxury rocket.
▼ + stars: | 2022-11-23 | by ( Alanis King | ) www.businessinsider.com time to read: +9 min

The $2.1 million electric supercar Rimac Nevera has 1,914 horsepower and 1,741 pound-feet of torque. But the Rimac Nevera taught me there's still a lot of that to be done on Earth. Alanis KingThe Nevera is a $2.1 million electric supercar from Rimac, a Croatian carmaker founded in 2009 by the now 34-year-old Mate Rimac. Rimac AutomobiliThe Nevera has four electric motors — one for each wheel — that, combined, make 1,914 horsepower and 1,741 pound-feet of torque. "The car will step out a little," they said, referring to the slide a car's wheels do when they begin to lose traction.

☆ Renault-backed Beyonca EV venture touts health monitoring, targets Audi in China
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +3 min

Soh, Beyonca's chairman, said the company was targeting the high-end premium segment, where they would compete with models such as Audi's A8L, BMW's 7 Series and Mercedes' S Class. Soh said that by the time the car was launched, third generation EV technology would offer faster charging times and longer driving ranges. Soh acknowledged the difficult backdrop but pointed to steady growth in the premium car segment, which he said had potential annual sales of 3 million cars in China. He declined to say how much Beyonca had raised from investors or how large a stake Renault and Dongfeng held in the company. Beyonca is headquartered in Beijing and has a design center in Munich and an artificial intelligence development hub in Singapore.

☆ How GM plans to convince consumers to make the switch to electric vehicles
▼ + stars: | 2022-10-08 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +6 min

Scott Mlyn | CNBCWhen people think of electric vehicles, their minds typically jump to Tesla. GM plans to sell up to 175,000 electric vehicles to Hertz Global by 2027 – rentals are a key method to introduce more people to EVs without having to commit to a purchase. Over the years, GM has created other virtual showrooms like Chevy MyWay and Cadillac Live, but GM EV Live is the first EV-only showroom being offered by GM. Focus on all the in-car technology, not just EV technology GM is focused on advancing technology to create better and safer driving experiences along with sleeker models for EVs. Maintain core principles through EVs Wahl said one thing that has not changed is the underlying principles of marketing.

☆ Amazon and Walmart are creating huge demand for electric trucks and vans. 8 execs at up-and-coming EV outfits reveal how their strategies for winning the commercial market.
▼ + stars: | 2022-09-28 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

8 execs revealed how they're making the commercial EV space their priority. Which is why entrepreneurs and startups are focused on solving some of the great roadblocks to electrifying the commercial EV space. It's the first EV charging manufacturer to be run by a Black woman, CEO Natalie King. King sees opportunity in home and public charging applications, but considers development of commercial EV charging a way to further adoption in the space. "The commercial space is so important because the adoption of EV technology really needs help in its expansion," King said.

Search resuls for: "EV technology"

17 mentions found