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☆ Bankrupt EV start-up Fisker wants to sell its 3,300 unsold electric vehicles at an 80% discount to a company that rents cars to NYC Uber and Lyft drivers
▼ + stars: | 2024-07-05 | by ( Jack Newsham | ) www.businessinsider.com time to read: +3 min

The company wants to sell just under 3,300 Ocean electric SUVs to American Leasing, lawyers said at a Wednesday hearing reported by TechCrunch. This story is available exclusively to Business Insider subscribers. Even as it prepared to deliver vehicles last year, it was scavenging parts from the personal EVs of the company's CEO and its CFO, Business Insider reported last month. It said selling 200 of the vehicles to American Leasing on an abbreviated timeline would bring in crucial cash to make payroll next month. Some creditors, including people who previously bought Fisker vehicles, are worried that the company will run out of resources to pay its debts and support owners.

Persons: —, Uber, Fisker, Linda Richenderfer Organizations: Service, American Leasing, TechCrunch, Business, Street, US, Office, Justice Department Locations: New York

☆ The five secrets to Ferrari’s success as a luxury brand
▼ + stars: | 2024-07-04 | by ( Robert Frank | ) www.cnbc.com time to read: +10 min

In this article RACE-IT Follow your favorite stocks CREATE FREE ACCOUNTwatch nowIn the world of luxury, Hermès is arguably the gold standard. Analysts predict Hermès could surpass Louis Vuitton in revenue within the next three years as the world's largest luxury brand. There is one luxury company, however, that has raced past Hermès when it comes to growth and brand cache – Ferrari. To better understand what makes Ferrari a luxury brand, CNBC traveled to Ferrari headquarters in Maranello, Italy, to interview the company's CEO, Benedetto Vigna. "A luxury company is a company that is using technology, innovation, storytelling, heritage, everything, with the ultimate goal to feed that emotional side that we all have."

Persons: Birkin, Louis Vuitton, Hermès, Enzo Ferrari, Ford, Ferrari, Bernstein, Luca Solca, Benedetto Vigna, Robert Frank, Vigna, Adam Jeffery, Solca, Ferraris, Martyn Lucy, Bernard Arnault, Crystal Lau, Francesca Volpi Organizations: Ferrari, New York Stock Exchange, General Motors, CNBC, Ferraris, Goodwood Festival, Getty, Spiders, Rolex, Hermès, Bloomberg Locations: Maranello, Italy, Geneva, Chichester , England, it's, California, Roma

☆ China's BYD opens EV factory in Thailand, first in Southeast Asia
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +2 min

China's BYD opens its first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market, in Rayong, Thailand, July 4, 2024. China's BYD opened an electric vehicle plant in Thailand on Thursday, the automaker's first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player. "Thailand has a clear EV vision and is entering a new era of auto manufacturing," BYD CEO and President Wang Chuanfu said at the opening ceremony. The BYD plant is part of a wave of investment worth more than $1.44 billion from Chinese EV makers who are setting up factories in Thailand, helped by government subsidies and tax incentives. Other EV rivals in the local market include Great Wall Motor, which also has a production facility in Thailand, and U.S. automaker Tesla.

Persons: China's BYD, Wang Chuanfu, Narit Therdsteerasukdi, Liu Xueliang, Tesla Organizations: EV, HK, Toyota Motor, Honda Motor Co, Isuzu Motors, ASEAN, Thailand's, of Investment, European, BYD's, BYD's Asia Pacific, BYD, U.S Locations: Southeast Asia, Rayong, Thailand, China, Hong Kong, BYD, Hungary, BYD's China, BYD's Asia

☆ Analyst discusses China EVs tariffs, compares EU and U.S. approaches
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina EV tariffs: Europe has a very different perspective from U.S. on security risks, analyst saysJoseph Webster, senior fellow at the Atlantic Council's Global Energy Center, says Europe is "much more amenable to investment from China in the electric vehicle segment."

Persons: Joseph Webster Organizations: China, Atlantic Council's Global Energy Center Locations: Europe, China

☆ China hopes to reach a solution with the EU on EV tariffs 'as soon as possible'
▼ + stars: | 2024-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Employees work on the assembly line of electric vehicles in a digital automotive factory of Jiangling Motors on May 17, 2024. BEIJING — China hopes to reach an agreement with the European Union soon on the bloc's planned tariffs for imported Chinese electric cars, the Ministry of Commerce said Thursday. The European Commission announced in mid-June that if discussions with China did not go well, the bloc would start to impose additional duties on imported Chinese EVs on Thursday, July 4. "Definitive measures" would take effect four months after that date, according to a press release. He reiterated China's opposition to the European Union's anti-subsidy probe and pointed out the two sides still have a four-month window.

Persons: Yadong Organizations: Jiangling Motors, European Union, Ministry of Commerce, European Commission, Commerce Ministry, CNBC Locations: Jiangling, BEIJING, China

☆ Chinese EV firms will come up with novel ways to enter Western markets
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese EV manufacturers might set up European companies in order to enter the Western marketsVivek Vaidya of Frost & Sullivan says the EU has dug themselves into a hole with its EV-friendly policies and that tariffs are only a temporary measure while Chinese EV companies come up with new strategies to enter the markets.

Persons: Vivek Vaidya, Sullivan Organizations: Frost, EU, EV

☆ China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe
▼ + stars: | 2024-07-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

The EU's decision comes at a time when Chinese automakers have been aggressively expanding into Europe with competitively priced offerings, posing a threat to the region's top automakers, many of which have lagged behind in EVs. It did not comment on whether it would end up raising prices as a result of the levies. When the EU first announced the tariffs last month, Tesla said it will likely increase the Europe prices of its Model 3 vehicle. The EU has yet to say what specific level of tariffs Tesla will face, but noted last month that the U.S. automaker "may receive an individually calculated duty rate." watch nowChinese and EU officials have held several rounds of meetings to discuss the tariffs, with Beijing in June criticizing the EU's imposition of tariffs as a "protectionist act."

Persons: Nio, Xpeng, Tesla, Yadong Organizations: Union, European Commission, European Union, Automakers, EV, CNBC, EU, U.S ., Commerce Ministry Locations: China, Shanghai, Europe, EVs, Beijing

☆ Tesla short sellers lost $3.5 billion in two days of trading after deliveries report
▼ + stars: | 2024-07-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

With the shares rallying 17% in the two trading days since the second-quarter report, short sellers have lost an estimated $3.5 billion on a mark-to-market basis, according to data from S3 Partners. It's been a painful few months for short sellers, as Tesla shares have soared 73% since bottoming for the year in April. Short interest in Tesla currently stands at 3.5% of float, or 97 million shares shorted, with a $22.4 billion notional value. While the deliveries report suggested demand for Tesla vehicles remains stronger than feared, it offered a limited view into company performance. In the U.S., Tesla offered a three-year, 2% APR financing deal for buyers of its rear-wheel drive Model 3.

Persons: Tesla, Patrick Pleul, PATRICK PLEUL, It's Organizations: Getty, S3 Partners Locations: Gruenheide, Berlin, Germany, Norway, China, U.S

☆ China's Xi greets EU Council president ahead of EV tariffs taking effect
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +1 min

China's President Xi Jinping made a congratulatory call on Thursday to incoming European Council President Antonio Costa, Chinese state media said, a few hours before European Commission curbs on Chinese electric cars are scheduled to take effect. China's President Xi Jinping made a congratulatory call on Thursday to incoming European Council President Antonio Costa, Chinese state media said, a few hours before European Commission curbs on Chinese electric cars are scheduled to take effect. The Commission is set to confirm provisional import tariffs of up to 37.6% on Chinese-manufactured electric vehicles, after the bloc accused the world's No.2 economy of providing its firms with heavy state subsidies. Xi said he "attaches great importance to the development of China-EU relations" as Europe braces for retaliatory measures from Beijing and the possible opening up of a new front in the West's tariff war with the $18.6 trillion economy. EU trade policy has turned increasingly protective over concerns that China's production-focused development model could see it flooded with cheap goods as Chinese firms look to step up exports amid weak domestic demand.

Persons: Xi Jinping, Antonio Costa, Xi Locations: China, Beijing

☆ What’s at stake for the climate if Trump wins? ‘A catastrophic outcome’
▼ + stars: | 2024-07-03 | by ( Ella Nilsen | ) edition.cnn.com time to read: +12 min

CNN —In the first week of a new Trump administration, President Joe Biden’s climate wins would get put through the shredder. “He has said he’s going to come back with a vengeance,” former US special climate envoy John Kerry told CNN. He has railed against Biden’s climate policies at rallies and derided clean energy, vowing to push America back to fossil fuels. He has openly courted the oil industry at fundraising events, the Washington Post reported, promising regulation rollbacks in exchange for campaign cash. It could happen “very fast,” said David Bernhardt, who served as Interior Secretary in the Trump administration.

Persons: Trump, Joe Biden’s, nix, ”, John Kerry, it’s, “, Joe Biden, ” Trump, Karoline Leavitt, Leavitt, Anna Moneymaker, ” Mandy Gunasekara, David Bernhardt, Bernhardt, Biden, Trump’s, Sarah Palin, ’ pocketbooks, Diana Furchtgott, Roth, Gavin Newsom, ” Newsom, “ We’re, Newsome, David Paul Morris, John Bozzella, Bozzella, ” Bozzella, he’s, ” Bob McNally, George W, Bush, Scott Olson, –, ” Bernhardt, McNally, ” McNally, ’ Trump, Nate Hultman, Frederic J . Brown, haven’t, Kerry, ” Kerry, CNN’s Alayna Treene, Bill Weir, Julian Quinones Organizations: CNN, Trump, Washington Post, White, Environmental, Agency, EVs, Environmental Protection Agency, Republicans, Treasury Department, Former Trump Department of Transportation, Heritage Foundation, California Gov, Bloomberg, Alliance, Automotive Innovation, Biden, Fox News, Energy, Rapidan Energy Group, Bush White House, US Energy Information Administration, Trump Interior, Trump’s, Center for Global Sustainability, University of Maryland, State Department, Getty, United Nations Locations: Alaska, Paris, United States, Philadelphia, California, Washington ,, San Francisco, CNN California, Montebello , California, AFP

☆ 'The worst is in the rearview mirror': Why Wall Street thinks Tesla's comeback story is finally here
▼ + stars: | 2024-07-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Tesla stock had a tough first half of 2024 but Wall Street is eyeing a turnaround. Tesla deliveries slumped for the second quarter in a row, but they were stronger than analysts had expected, with clocking in at 443,956, compared to estimates of 436,000. AdvertisementTesla also reduced its inventory over the second quarter and boosted its energy storage to an all-time high. Morgan Stanley reiterated its "overweight" rating on Tesla stock with a price target of $310, implying another 30% upside. In the most bullish scenario, Tesla stock could rally to $400 by the end of the year, Ives said, implying 63% upside from current levels.

Persons: —, Wall, Musk, Tesla, Morgan Stanley, Elon, Garrett Nelson, Robotaxi, Nelson, CFRA, Keith Fitz, Gerald, Gerald Research, Dan Ives, Wedbush, Ives Organizations: Service, Elon, Wall Street, Investors, Tesla Energy, CFRA, CNBC, Wedbush Securities

☆ Ford sales edge 1% higher in the second quarter, led by trucks
▼ + stars: | 2024-07-03 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

Ford sales rose 1% during the second quarter over the year-earlier period, led by a 5% gain in truck sales, the automaker said Wednesday. Ford truck sales, which include pickups and vans, totaled 308,920 vehicles during the period, the company's best second-quarter performance for the category since 2019, Ford said. Sales of Ford electric vehicles totaled 23,957 during the second quarter, up 61%. GM said total sales of 696,086 made for its highest quarterly sales mark since the fourth quarter of 2020. Auto industry forecasters including Cox Automotive and Edmunds expect second-quarter sales industrywide to be roughly flat year over year.

Persons: Ford, Edmunds, — CNBC's Michael Wayland Organizations: Ford, Motors, GM, Auto, Cox Automotive Locations: Chicago , Illinois

☆ Elon Musk and Tesla are on the rise after a brutal start to the year
▼ + stars: | 2024-07-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, a tough sales report for Tesla can't slow the EV maker's turnaround . After a dreadful start to the year, the EV maker has been running on all cylinders on a full charge. Tesla's polarizing CEO also notched a massive victory when investors approved Elon Musk's $55 billion pay plan . But what is new at Tesla, and what sparked the company's recent market rally, are big promises from its CEO. As automakers reconsider their EV strategy , Tesla has figured out how to build cars cheaper than anyone else .

Persons: —, I'm, Tesla, Jordan Strauss, Chelsea Jia Feng, Insider's Nora Naughton, BI's Filip De Mott, hasn't, Karol Serewis, Musk's, Nora, it's, he's, Musk, Apu Gomes, Steve Cohen's Point72, Ken Griffin's, Mark O'Hare, Larry Fink, execs, Marc Benioff, trouncing, It's, Jenny Chang, Rodriguez, they've, Morgan Stanley, Beryl, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, Chelsea, Wall, Elon Musk's, Getty Images, Getty, Ken Griffin's Citadel, BlackRock, EU, Google, YouTube Locations: Wick, Jamaica, New York, London

☆ Tesla deliveries are being 'overanalyzed' by investors, says RBC Capital's Tom Narayan
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla deliveries are being 'overanalyzed' by investors, says RBC Capital's Tom NarayanTom Narayan, RBC Capital markets analyst, joins 'Squawk on the Street' to discuss Tesla, after the EV maker paces for its seventh day of gains.

Persons: Tom Narayan Tom Narayan, Tesla Organizations: RBC, RBC Capital

☆ China's BYD is set to take Tesla's crown as the world's No. 1 producer of battery electric vehicles
▼ + stars: | 2024-07-03 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Chinese electric vehicle maker BYD is on track to overtake Tesla in battery electric vehicle sales this year, with its BEV market share expected to surge, according to a Counterpoint Research report. "This shift underscores the dynamic nature of the global EV market," Counterpoint analysts said in the report released Tuesday. BYD's second-quarter battery EV sales jumped nearly 21% year on year to 426,039 units, according to CNBC's calculations. Counterpoint said China "remains a dominant force in the BEV market" with BYD leading the way. China's BEV sales are estimated to be four times that of North America's in 2024, the research firm said.

Persons: BEV, BYD's, BYD, Tesla, China's BEV Organizations: Research, U.S, EV Locations: Munich, Germany, China, North America's

☆ Tesla sales fall again as more automakers crowd electric vehicle market
▼ + stars: | 2024-07-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Tesla sales fell for the second straight quarter. In the fourth quarter BYD briefly passed Tesla in global EV sales. But the better-than-expected Tesla sales were enough to lift shares of Tesla (TSLA) by more than 9% in midday trading. The strong EV sales were balanced by a slight drop - about 0.3% - in sales of traditional gasoline powered cars. Toyota’s US EV sales soared even more, rising 301% to 11,600.

Persons: Tesla, Elon Musk, —, BYD, CNN’s Laura He, Peter Valdes, Dapena Organizations: New, New York CNN, clamoring, Tesla, Volkswagen, General Motors, Ford, GM, EV, Blazer EV, Cadillac, Toyota Locations: New York, China, Europe, North America

☆ GM reports best U.S. quarterly sales since 2020
▼ + stars: | 2024-07-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The Detroit automaker on Tuesday reported sales of 696,086 for the second quarter, up 0.6% from a year earlier and its highest quarterly units sold since the fourth quarter of 2020. Still, EVs made up only 3.2% of its total second-quarter sales. Sales of GM's full-size pickup trucks were roughly 229,000 during the second quarter, up about 6% from a year earlier and the best quarterly sales since 2021. GM's second-quarter sales are expected to slightly outpace the overall industry. Kia, which reports sales on a monthly basis, reported a 6.5% decrease in its June sales.

Persons: EVs, Edmunds, CDK, Jessica Caldwell, Caldwell Organizations: DETROIT —, Motors, Detroit, Auto, Cox Automotive, CDK, GM, Asbury Automotive Group, AutoNation Inc, Inc, Lithia Motors Inc, Sonic Automotive Inc, Automotive News, Toyota, Hyundai, Kia Locations: Lincolnwood , Illinois, DETROIT, North America

That's slightly more than Nio 's 87,426 deliveries for the first six months of 2024, although Nio continued to recover from sluggish performance earlier in the year with a record 21,209 deliveries in June. BEIJING — Chinese electric car company Zeekr said Monday it delivered a record number of vehicles in June, making its deliveries for the first half of the year the largest among U.S.-listed Chinese companies only selling pure electric cars. Plug-in hybrid cars accounted for a slightly greater share than battery electric vehicles, and saw faster growth at 39.5% versus 17.7% for battery-only cars. Car companies need to improve the battery charging process, Wan Gang, the man credited with spearheading China's electric car strategy, said at a conference last week. As part of efforts to boost consumption, China this year has launched a trade-in policy to incentivize new energy vehicle sales.

Persons: Li Auto, Xpeng, That's, Nio, Zeekr, Huawei's, BYD Organizations: SEA, Li, U.S, Gang, China Passenger Car Association Locations: BEIJING, Hong Kong, China, Beijing

☆ Chewy stock whipsaws after Roaring Kitty discloses a $245 million stake
▼ + stars: | 2024-07-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Chewy shares opened 9% higher before reversing lower after Keith Gill disclosed a big stake. AdvertisementShares in the online pet retailer Chewy opened 9% higher on Monday before reversing lower after famed meme-stock trader Keith Gill unveiled a multi-million-dollar stake. The document shows he owns just over 9 million Class A shares, worth $245 million as of Friday's closing price. As of mid-June, he held over 9 million shares in GameStop. 13G SEC Filing related to Keith Gill's Chewy stakeIn Monday's SEC filing, Gill also marked down that "I am not a cat."

Persons: Keith Gill, Kitty, Gill, —, Chewy, that's, it's, Keith Gill's Chewy Organizations: Service, US Securities and Exchange Commission, Mizuho Securities, GameStop, Bloomberg, SEC Locations: Chewy, New York

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Verizon, Apple, McDonald's, Birkenstock, AT&T, Meta & more
▼ + stars: | 2024-07-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on the stock to $144 per share from $116. "We are initiating coverage of Gauzy with a Buy rating and $18 12-month price target." Wells Fargo reiterates McDonald's as overweight Wells said it's standing by its overweight rating on shares of McDonald's. "We initiate coverage on Amkor Technology (AMKR, $10B market cap) with an Overweight rating and Dec-25 price target of $48." Raymond James reiterates Meta as strong buy Raymond James raised its price target on Meta to $600 per share from $550.

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's, BIRK, ramping, Stifel, Wells, Tesla, JMP, Academy's, Piper Sandler, Piper, TD Cowen, W.R, Berkley, Snowflake, Raymond James, Rivian, Meta Organizations: UBS, Apple, Verizon, AT, Gannett, JMP, Sports, JPMorgan, Amkor Technology, Deutsche Bank, Walmart, Deutsche, Exchange, ICE, RBC, NextEra Energy Partners, Fox Corp, EV, Meta Locations: China, Taiwan, Asia, TFX, McDonald's, Rivian

☆ This electric car battery takes less than 5 minutes to charge
▼ + stars: | 2024-07-01 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +5 min

London CNN —A British startup may have found the answer to one of the frustrations of driving an electric car — waiting around for the battery to charge. That is much faster than the 20 minutes or so it currently takes some electric cars using a fast charger, such as a Tesla (TSLA) Supercharger. Nyobolt’s battery is compatible with a Supercharger, the startup told CNN. “This is many multiples higher than the warranties of much larger EV batteries on the road today,” it noted. In addition, there are currently “a lot of unknowns” with the niobium battery technology, he told CNN.

Persons: London CNN —, ” Nyobolt’s, Sai Shivareddy, “, Clare Grey, Shivareddy, Paul Marchment, Jack Evans, Tesla, ” Shivareddy, Nyobolt, William Kephart, it’s Organizations: London CNN, University of Cambridge, EV, BNP, Blackball Media, CNN, European Union, American, P3 Group Locations: British, Cambridge, United States, Europe, North America

☆ Morgan Stanley says this is the stock to play China's EV industry consolidation
▼ + stars: | 2024-06-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Morgan Stanley has resumed coverage of Hong Kong-listed Geely with an overweight rating on expectations the Chinese automaker can weather macro and industry uncertainties. "We see Geely as a beneficiary of market consolidation," Morgan Stanley Asia equity analyst Tim Hsiao and a team said in a June 25 report that resumed coverage of the stock. Hangzhou-based Geely entered China's auto industry in 1997 and is known for acquiring Volvo in 2010. But the company raised the share of its new energy vehicles to 32% so far this year, higher than peers such as Great Wall Motor, for which the share is 23%, the Morgan Stanley analysts pointed out on Tuesday. The Morgan Stanley analysts on Tuesday set a price target of HK$11.20 ($1.43), about 27% above where shares closed Friday.

Persons: Morgan Stanley, Tim Hsiao, Geely, PHEV, Morgan Stanley's, BYD, bode Organizations: U.S, European Union, Lynk, Volvo, HK Locations: Hong Kong, Morgan Stanley Asia, Hangzhou, New York, China, EVs

☆ Warren Buffett's Berkshire Hathaway raked in billions from BYD, the China EV maker Munger called a 'damn miracle'
▼ + stars: | 2024-06-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Sixteen years ago, Warren Buffett's Berkshire Hathaway unveiled a $230 million investment in Chinese electric vehicle startup BYD , sparking questions about the conglomerate's unusual foray into early-stage technology. Lately, Berkshire has been selling down the position, ringing the register after earning billions of dollars during its hyper-growth phase. Berkshire trimmed its BYD stake to 5.99% as of June 19 from 7% just a few days earlier , according to a Hong Kong Stock Exchange filing . It has since become the top car brand in China, as well as a major producer of EV batteries. "From a standing start at zero and with very little capital, he rapidly was able to create the best-selling single model in China," Munger said.

Persons: Warren Buffett's Berkshire Hathaway, Charlie Munger, —, Munger, Wang Chuanfu, he's, Buffett, Thomas Edison, Bill Gates, BYD, Tesla, Li Lu Organizations: Hong Kong Stock Exchange, Oracle, EV, Elon, Seattle, Capital, Berkshire Locations: China, Berkshire, Munger, Omaha, Shenzhen, Hong Kong

☆ EV sales have hit a speed bump. Using AI to improve their batteries could get more people back in the driving seat.
▼ + stars: | 2024-06-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +6 min

Chemix is using machine-learning algorithms to develop EV batteries that can charge more quickly, hold more energy, and last longer than current EV power units. Koeller said the primary advantage of using AI to design EV batteries is that it dramatically speeds up the process. Better EV batteriesDesigning EV batteries is a three-step process, Georgia Tech assistant professor Micah Ziegler told BI. The solid-state electrolyte they discovered relies less on lithium, an increasingly rare resource that forms the core of today's EV batteries. Mueller said that PNNL's collaboration with Microsoft has convinced him that generative AI could have applications far beyond speeding up EV battery design.

Persons: —, Jason Koeller, Koeller, Micah Ziegler, Ziegler, Karl Mueller, Mueller, it's Organizations: Service, Business, EV, Georgia Tech, BI, Pacific Northwest National Laboratory, Microsoft Locations: California

☆ 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

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