Tag Archives: Electrified Vehicles

Toyota Expanding Indiana Assembly Line, Adding Two New SUVs

April 29, 2021 admin

Toyota is moving production of the Sequoia to Texas and bringing two new three-row SUVs to its Indiana plant.

Toyota Motor will add two new, three-row SUVs to its already large line-up of sport-utility vehicles, the automaker announced.

Though Toyota revealed only a few details, it indicated one of the new models will be sold through the Toyota division, the other through Lexus. To bring them online, meanwhile, the Japanese giant plans to invest $803 million to upgrade its plant in Princeton, Indiana.

Since it was opened in 1998, Toyota has spent $6.6 billion on the Princeton factory, known as TMMI. It currently produces three Toyota-branded light trucks, the full-size Sequoia, the latest-generation Sienna minivan that is produced solely as a hybrid, and the Highlander SUV which is produced both in hybrid and conventional gas versions.

The plant soon will have a bit more space available, even without the upgrade. Production of the Sequoia model will be transferred to Toyota’s San Antonio plant in 2022. That’s part of a broader shift in its manufacturing footprint coinciding with the launch of a new Alabama factory that will operate as a joint venture with Mazda.

New SUVs will target growing families

Toyota is investing $803 million into its Princeton, Indiana plant to build two new large SUVs.

The new models going into TMMI will be “designed with the active Gen Y American family in mind,” Toyota officials said, meaning they will be offered with three rows and seating for up to eight. Today, the flagship brand offers four different three-row SUVs, the Highlander, 4Runner, Land Cruiser and Sequoia. Lexus offers three rows in its LX, GX and RX utility vehicles.

Both new models will be “electrified,” though Toyota did not say whether that means conventional hybrids, like the Highlander, or more advanced plug-in hybrids like the RAV4 Prime. Neither of the new models is expected to offer an all-electric drivetrain, though the automaker announced in February plans to introduce three battery-electric vehicles for the U.S. market by mid-decade. At that point, Toyota previously said, it expects to offer electrified options for virtually every product in its line-up.

“This investment and new vehicle lineup will allow us to continue our work with electrification, expand our portfolio to about 70 models globally by 2025, and meet the needs of our customers while we accelerate toward carbon neutrality,” Ted Ogawa, CEO of Toyota Motor America, said in a statement.

Toyota’s Indiana plant produces the Highlander and Sienna before adding the two new vehicles.

Plenty of tech for Gen Y buyers

The new SUVs will use some of Toyota’s newest technologies, starting with a smartphone-as-key system allowing a motorist to operate it through an app, rather than a conventional keyfob.

The app also will allow the new models to park remotely, letting a driver exit before trying to squeeze the SUV into a tight space. And while it is unclear where the technology will first be used, the SUVs also will “allow for hands-free driving in certain conditions.” That sounds similar to semi-autonomous technologies now coming to market such as Tesla’s Autopilot, General Motors’ Super Cruise and the upcoming Ford Blue Cruise. Toyota has not offered details, such as whether it will charge a subscription fee as its competitors do.

Toyota has invested heavily in autonomous vehicle research and this week revealed it will buy the self-driving vehicle arm of ride-sharing service Lyft for $550 million.

The plans for the TMMI plant are expected to create another 1,400 jobs. This also will mark the first time a Lexus model will be built at the factory.

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Genesis Goes Electric with Electrified G80 Sedan’s Debut in Shanghai

April 19, 2021 admin

Genesis is looking to make up some ground when it comes to electrification with the new Electrified G80.

The Genesis brand is determined to go from catch-up mode to leaving its competition behind. After an initial delay, it’s rolled out an assortment of new SUVs and its now getting into the battery-car game with the launch of the Electrified G80 at the Shanghai Auto Show.

The name of the Genesis Electrified G80 sedan might confuse some folks, making it sound like the automaker simply stuffed some batteries inside the conventional, gas-powered G8. However, the new model gets a major makeover to ensure it gets the range and other benefits offered by switching to battery power.

“Today is very special because it represents a variety of firsts for the Genesis brand, not only because this is Genesis’ very first appearance at Auto Shanghai, but also as the first time we are unveiling a new product outside of Korea,” said Jay Chang, Global head of the Genesis brand. “The Electrified G80, the perfect balance of athleticism and elegance, marks the beginning of our journey into the EV market, representing Genesis in the era of electrification.”

Filling in gaps in the product line-up

Genesis has been on a product roll in the last year or so, but an EV was a hole in the line-up — until now.

Genesis has been on a roll this past year, expanding its SUV line-up, updating initial sedans, including the gas-powered G80, and rolling out concepts like the all-electric Genesis X coupe revealed last month.

The one thing missing has been a production battery-electric vehicle, something the automaker has long signaled was in the works — though it also was known to be considering different options, including a crossover, a city car or, as it now turns out, a relatively conventional sedan.

There are some questions left to be answered, such as what platform the Electrified G80 rides on. Parent Hybrid Motor Group has developed the E-GMP architecture for use on products including the new Hyundai Ioniq 5 and Kia EV6.

It’s not clear whether it also underpins the Genesis Electrified G80. But the luxury member of the family has clearly found a way to squeeze in plenty of batteries, claiming the BEV sedan will deliver as much as 500 km, or 310 miles, range using the global NEDC standard. That likely would drop to something at or under 250 miles using the U.S. EPA test cycle.

Quicker charging

The interior of the new electric G80 sedan features a slew of technology.

The powertrain also aims to address concerns about charging times. The Electrified G80’s drive system can flip from 400 to 800 volts, allowing it to plug into the latest public quick chargers. Using the newest 350 kilowatt systems it can go from a 10% to 80% state-of-charge in just 22 minutes, Genesis claims.

The Vehicle-to-Load, or V2L, system also lets a motorist tap energy stored in the battery to power electric tools or, if need be, appliances should a home suffer a power outage.

Genesis isn’t ready to reveal specifics about the motor drive system, though it does note the all-wheel-drive system has a “Disconnector Actuator” that lets it switch from AWD to just rear-wheel drive. That suggests there is a single motor mounted, most likely, on the rear axle.

In Sport Mode, the automaker claims, the Electrified G80 will launch from 0 to 60 in 4.9 seconds.

Lots of unanswered questions

While the battery model looks much like the conventional G80, it features a sealed version of the familiar Genesis Crest Grille. That reduces aero drag since there’s no need to send air to cool and feed a gas engine under the hood. The charging port is hidden within the grille’s upper right corner.

Inside, the automaker switched to sustainable materials, including fabrics made of PET from recycled soft drink bottles.

Calling electrification “one of the key strategies” for the brand, Genesis said the Electrified G80 will be followed by “additional EV models.” It also said it will share more information about the BEV and plans to bring it to North America “later this year.”

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Volts, er, Volkswagen’s April Fool’s Day Prank a Jolt to the System

March 31, 2021 admin

Oh those wacky Germans!! As quickly as it got here, VW took it away: Voltswagen is the company that never was.

A lesson for wannabe pranksters: if you’re planning an April Fool’s Day joke, stick to April 1st.

That lesson apparently got lost in translation over at Voltswagen, er, Volkswagen headquarters when the company intentionally leaked an “internal document” on March 29 indicating it was planning to change its name as a way to highlight a dramatic, mega-billion-dollar shift to battery-electric vehicles.

Like so many others, automotive PR departments have often found ways to tweak the media on April 1 and the closer a supposed story hews to reality the better the joke — though news veterans have learned to tread cautiously with everything they see that day. VW’s gag, it seems, gained credibility because of the timing, even though it would have generated major skepticism had it come out two days later.

But “There will be no renaming of Volkswagen of America,” the company now says after receiving numerous angry calls from those fooled by the supposed name change — including, we will admit, TheDetroitBureau.com.

Good one, guys … good one

Volkswagen of America chief Scott Keogh, left, and VW AG CEO Herbert Diess share a laugh, knowing what was going to be unleashed on the U.S. media.

As readers will note, we did question whether this was part of a short-term marketing campaign, rather than a real, permanent name change. After all, other companies have taken similar steps. IHOP in 2018 announced it was becoming IHOB, a short-lived switch, it turned out, to promote the fact it offered more than just pancakes for breakfast.

Indeed, the stunt was intended to highlight the launch of the Voltswagen, er, Volkswagen ID.4, the carmaker’s first long-range battery-electric vehicle targeting the U.S. market. It began rolling into American showrooms this month.

“The alleged renaming was designed to be an announcement in the spirit of April Fool’s Day, highlighting the launch of the all-electric ID.4 SUV and signaling our commitment to bringing electric mobility to all,” said a statement from VW released the day after the rouse, 36 hours before April Fool’s Day.

The right amount of credibility for a fake release

The thread of credibility was, in fact, there for at least a short-term use of the name Voltswagen. The German company is going all-in on electrification, committing to spend more than $80 billion to bring at least 50 all-electric models to market by mid-decade. Its high-line Bentley brand will only sell battery-electric vehicles by 2030 and while the flagship VW brand hasn’t committed to going completely BEV, global CEO Herbert Diess has strongly hinted that is in the works.

Volkswagen has designated $86 billion to bring more than 50 EVs to market in the next few years, including the ID.4.

“We have said, from the beginning of our shift to an electric future, that we will build EVs for the millions, not just millionaires. This name change signifies a nod to our past as the peoples’ car and our firm belief that our future is in being the peoples’ electric car,” said the fake VW release, purportedly quoting Scott Keogh, president and CEO of Volkswagen of America.

VW already did adopt a new name for its electric vehicles. They are being grouped together under the ID banner. An all-electric hatchback, the ID.3, went on sale in Europe last year. Other models are coming, including the ID.Buzz, a modern, battery-powered take on the legendary VW Microbus.

Volkswagen isn’t alone, one rival German automaker marketing its BEVs through the new Mercedes-EQ marque, another opting to call its electric models BMW i. And Hyundai just launched a new battery-car sub-brand called Ioniq.

VW’s reaching out to promote its electrification efforts shouldn’t be surprising. The automaker’s global CEO Herbert Diess declared a goal of becoming the world’s leading EV manufacturer, his goal to “overtake” today’s top seller, Tesla.

Whether the Voltswagen stunt will short-circuit the launch of the ID.4 isn’t certain. But wary journalists are likely to be far less willing to get charged up the next time a VW press release arrives.

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Bow. Wow! One-Bow Design Takes Mercedes EQS in an Entirely New Direction

March 27, 2021 admin

The new Mercedes-Benz EQS battery-electric sedan makes its formal debut April 15.

One thing’s for sure: there’ll be no mistaking the new Mercedes EQS sedan when it rolls down the street.

Think of the EQS as the all-electric alternative to the German automaker’s familiar S-Class flagship. But you clearly won’t confuse the two when it reaches showrooms in autumn. Some new battery-electric vehicles share the same design language as conventional, gas-powered products. With EQS, Mercedes goes off in an entirely new direction, one it’s been hinting at with concept vehicles like the 2019 Vision EQS.

The production model adopts what the automaker calls a “one-bow” design. It takes the look of the coupe-like Mercedes CLS to extremes. The result could have rolled off the set of a sci-fi film. But there are practical benefits in terms of range and interior roominess, as well.

“We said we have to go further” than just packing batteries into a conventional looking product,” Steffen Kohl, Mercedes’ director of advanced exterior style, said during a media webinar. The EQS “carries the future of Mercedes-Benz,” he added, noting the “one-bow” language of the EQS will strongly influence other products to come from the new, all-electric Mercedes-EQ sub-brand.

Plenty of power and range

Robert Lesnik led the exterior design effort for Mercedes new EQS battery-electric sedan.

EQS rides on a skateboard-like platform, mimicking virtually all new battery-electric vehicles. Its batteries, motors and other key electrical components sit below the floorboards.

The automaker will reveal full powertrain details during a formal unveiling April 15. But EQS uses twin motors, one on each axle, drawing power from a 108 kilowatt-hour battery pack. That provides about 435 miles of range using the European WLTP test cycle. The EPA rating should come in somewhere about 350 miles, according to industry observers.

The layout moves the sedan’s wheels close to the vehicle’s corners. It also frees up space where a traditional gas or diesel engine would be mounted, providing significant flexibility to the Mercedes design team.

Shorter wheelbase, longer cabin

The cab-forward design features a short nose, the angled, one-piece aluminum clamshell hood rising aggressively to flow into a steeply raked windshield. Instead of a traditional, two- or three-box layout, the look is like that of a single bow line, explained Robert Lesnik, who led the exterior design effort.

The Mercedes-Benz Vision EQS concept provided a framework for the company’s new electric luxury sedan.

“EQS will be the world’s best production car ever in terms of aerodynamics,” with a drag coefficient of 0.20 significantly better than even the sleekest of today’s supercars, he explained.

The effect “looks optically lower than it is,” Lesnik added.

The front end features a new grille with “abstracted, three-dimensional star pattern(s),” according to Mercedes. It’s framed by slit-like headlamps flowing into the front quarter panels.

“When people ask why we need a grille anymore,” Lesnik explains that it is “not an air intake. It’s a face.”

“Coming from the future”

The side panels lack the normal creases found on conventional Mercedes models, though the greenhouse does pinch in towards the trunk, giving the EQS a sense of muscularity.

The new EQS features Mercedes’ newly introduced Hyperscreen technology.

Around back, the most distinctive feature is a light band connecting what Mercedes calls “curved, 3D helix” taillamps.

From nose to tail, the new EQS measures 5.2 meters, or 204.7 inches. That’s about 3.5 inches shorter than the U.S. version of the latest Mercedes S-Class. But the electric sedan has more room for four passengers, its cabin pushed forward into what would normally be the engine compartment.

As distinctive as the exterior might be, the interior takes things even further, said Peter Balko, who oversaw development of the cabin. “We wanted our interior to be modern,” he explained, “as if coming from the future.”

Buyers will have numerous options

Buyers have several key options to choose from. The showpiece layout uses the new hyperscreen concept first shown on the latest S-Class. It features a seamless digital cluster running the entire width of the instrument panel. The organically shaped glass blends three different displays, starting with the digital gauge cluster, the touchscreen infotainment screen and a separate display for the front passenger.

The gauge cluster on the new EQS is configurable based on the wants of the driver.

EQS offers a digital gauge cluster and a large, free-floating, Tesla-like infotainment screen for those seeking a more conventional look. The space in front of the passenger can be outfitted with an assortment of different woods and fabrics and even a version of the Star Pattern grille.

The EQS will “touch almost all of your senses,” said Kohl. Among other things, the product development team has come up with three distinctive, user-programmable “soundscapes.”

Sounding off

While battery cars aren’t entirely silent, they are significantly quieter than vehicles with conventional internal combustion engines. Motorists can enjoy the lack of noise or they can opt for one of the soundscapes, “depending upon the emotions of the moment,” said lead sound engineer Thomas Kuppers.

Silver Waves is meant to be soft and soothing;
Vivid Flux is “shimming and explosive,” a bit “techie but (with) warmth,” said Kuppers; and
Roaring Pulse is “pretty raw, with “the growl of thunder,” especially under aggressive driving.

“We haven’t finished yet,” Kuppers added, noting that, “There will be new soundscapes over the life of the vehicle that we will download through over-the-air updates.”

The new EQS will borrow from the conventional S-Class by also appealing to the sense of smell, Mercedes officials noted. The new BEV will have the ability to inject scents into the cabin, including some designed specifically for the new model.

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GM Inks New Deal with Innovative EV Battery Maker

March 11, 2021 admin

GM’s next-gen lithium metal batteries, the expected energy density increase may mean higher range in a similarly sized pack or comparable range in a smaller pack.

General Motors continued its charge to develop better batteries, announcing its partnership with lithium metal battery startup SolidEnergy Systems.

The company, also known as SES, is working on technology that would reduce the size of EV batteries while increasing driving range of the vehicle they’re used in. GM officials have long discussed the need to reduce battery costs, another factor in the production of electrified vehicles is weight.

Batteries are heavy and developing and using a smaller battery equates to weight savings, helping to further expand the improved range afforded by the batteries SES and GM are working to create.

Lighter, farther, cheaper

GM says its lithium metal battery with a protected anode offers the Big Three of EVs: affordability, high performance and energy density. The initial prototype batteries have already completed 150,000 simulated test miles at research and development labs at GM’s Global Technical Center in Warren, Michigan, demonstrating real-world potential, the company revealed.

GM announced a joint development agreement with lithium metal battery innovator SolidEnergy Systems.

The automaker isn’t just working with SES to bring lithium-metal batteries to fruition, but several other companies as well. However, it does have a history with SES, investing in the company six years ago through its GM Ventures arm.

This new deal is the next step in that collaboration, and as part of that progression, GM and SES plan to build a manufacturing prototyping line in Woburn, Massachusetts, for a high-capacity, pre-production battery by 2023.

Results mean EVs for all

“Affordability and range are two major barriers to mass EV adoption,” said GM President Mark Reuss.

GM’s prototype lithium metal batteries were developed at the company’s research and development labs in Warren, Michigan.

“With this next-generation Ultium chemistry, we believe we’re on the cusp of a once-in-a-generation improvement in energy density and cost. There’s even more room to improve in both categories, and we intend to innovate faster than any other company in this space.”

The goal is to incorporate these smaller, more powerful and less expensive batteries as part of the Ultium Platform that will be the basis for a slew of new EVs coming from the auto company. The first of those, the GMC Hummer hits the road this year.

GM is working to complete its $2.3 billion plant to build the Ultium batteries in partnership with South Korea’s LG Chem. The pair is setting up shop in Lordstown, Ohio. Officials recently revealed two more plants could be in the works. The first would be near GM’s plant in Spring Hill, Tennessee.

The company is investing $2 billion at that facility to prepare it to produce Cadillac’s first-ever all-electric model, the Lyriq. GM is investing $27 billion in electric and autonomous vehicles with plans to have 30 EV models available around the world by the end of 2025. The company declared it would end production of gas- and diesel-powered vehicles by 2035.

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Tesla, GM May Get Eligibility for Federal EV Tax Credits Again

February 12, 2021 admin

Buyers the new Tesla Model S may be eligible for a $7,000 tax credit not previously offered.

Tesla and General Motors may be considered polar opposites in many ways, but in one very big way they’re going to be almost bosom buddies: tax credits for EVs.

The market leader in the segment and the hopes-to-be-leader in the segment are soon able to once again access federal tax credits for the next 400,000 electric vehicles each automaker sells, if a new bill from Democrats makes it into law.

The Growing Renewable Energy and Efficiency Now Act (yup, GREEN) provides a new set of tax incentives aimed at renewable energy technologies, or in this case, vehicles. GM and Tesla buyers could get $7,000 tax credits for new EVs, if it passes.

Government getting involved

Chevy Bolt buyers may get to claim a federal tax credit that had been previously unavailable.

President Joe Biden is a proponent for the growth of electric vehicles, pledging to add 1 million new automotive jobs related to EVs and growing the nation’s underwhelming EV charging network by 500,000 by the end of the decade.

The new bill submitted by Representative Mike Thompson (D-California), who is Chairman of U.S. House Ways and Means Subcommittee on Select Revenue, all the other Democratic leaders on the subcommittee signed onto the bill, hoping Congress will take it up under a Democratic-controlled Senate and the Biden administration.

A similar bill was introduced in June 2020, then controlled by Republicans, and it failed. It was the latest of several attempts to reinstate the previous $7,500 tax credit. Democrats have attempted to resurrect the credit several times, each effort shut down by Senate Republicans. Now that Democrats have the final vote in any deadlock, it seems likely to make it through.

How the tax credit used to work and the new version

The original credit, passed during the Obama administration, limited the number of vehicles eligible for the credit to 200,000 vehicles. Tesla hit the mark first in 2018, followed by GM shortly after. Tesla CEO Elon Musk cut the price on vehicles in the U.S. after to help partially offset the loss of the credit.

Used EVs, if they qualify, can fetch a $2,500 tax credit through the GREEN Act.

The new version cuts the credit by $500, but it also changes the structure of the credit phase out after an automaker hits 600,000 vehicles. The first plan reduced the size of the credit in stages over the course of 12 months following hitting the end number. Now it drops to $3,500 for one quarter and then disappears. Owners who bought vehicles in the interim are not eligible to claim the credit retroactively – at this point.

Additionally, the GREEN Act allows used buyers to claim up to a $2,500 tax credit when purchasing a qualifying preowned electric car. The EV must be at least two years old and the sale price cannot exceed $25,000. Income caps for individuals and spouses filing taxes jointly may result in smaller credits, however.

Businesses aren’t being ignored as the bill creates tax breaks for companies and municipalities purchasing electric heavy-duty vehicles, including zero-emissions buses. Twenty percent of the sales price would be eligible for sales over $100,000.

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Is Ford Making an All-Electric Mustang? Maybe

January 21, 2021 admin

Could the next-gen Ford Mustang coupe come only as a battery-electric model?

Ford Motor Co.’s gotten such an overwhelmingly positive reaction to the all-electric Mustang Mach-E, it’s rumored to be making the next-generation of the sports car a fully electric offering as well.

According to AutoForecast Solutions, the automaker will not build the next version of the pony car until 2028. The reason for the delay? It needs to be redesigned on a battery-electric platform. Further, it’s expected to be the only powertrain for the new Mustang.

“… the gas-fueled burble of the V-8 is replaced with the shocking acceleration of an electric motor when the standard Mustang becomes an EV in just a few years,” said Sam Fiorani, vice president of global vehicle forecasts, in the company’s podcast on Jan. 18.

(New Mustang Mach-E is just the first step in “electrification” for Ford.)

The early success of the Mustang Mach-E suggests that an all-electric version of the sports car could be well received by aficionados.

Fiorani’s podcast was followed by a report by Autoline Detroit Tuesday, recounting the AFS report about the next version of the Mustang. Although it isn’t out of the question for the Mustang to get an electric powertrain, for it to be the only offering is a bit surprising.

Many have suggested some form of electrification, such as a small electric motor to add some more power and torque has certainly been bandied about. Several other sports cars have move to the hybrid set up to boost performance.

It should be noted that in 2017 the automaker killed a $1.6 billion investment in Mexico, redirecting $700 million of that to expand the Flat Rock plant. Ford would add a new body shop at the site to handle two unnamed battery-electric vehicles, officials said at the time, although it was suggested that one would be a hybrid.

The site currently produces just the Mustang, which until recently included the Shelby GT350 and GT350R models. Those two vehicles have been discontinued, with the GT500 living on and now the Mach 1 making a comeback later this year. Ford officials have not responded to TheDetroitBureau.com at the time of publication.

Ford officials have long maintained that electrification was part of the company’s future, not its sole focus, unlike its rival, General Motors, which has been dealing with some electrification rumors lately too. Last week, reports resurfaced that an all-electric Chevrolet Corvette was in the works, but following in Ford’s footsteps.

Ford announced plans in 2017 to invest $700 million in its Flat Rock, Michigan, plant, which currently builds only the Mustang, to build electric vehicles.

(Ford axes $1.6B Mexico plant for $700M Michigan upgrade.)

While General Motors insiders never really downplayed reports about the potential electrification of the ‘Vette, including a fully electric model. However, last week there were reports that the bowtie brand was considering an electric Corvette crossover like the Mustang Mach-E because of the warm reception it’s getting.

The flames were fanned during CES2021 when GM officials talked about offering a variety of new electric vehicles between now and 2030. Earlier reports centered on a 1,000-horsepower monster dubbed the Corvette Zora, named after the creator of the original car. The move to create an all-electric crossover would check off two “rumor” boxes, if you will: an all-electric model and the creation of a separate Corvette sub-brand.

The downside, of course, is that Corvette loyalists would shun it immediately. It’s been barely a year since the eighth-generation Corvette – the C8 to fans – made its debut, marking the switch to a mid-engine layout, the most radical shift for the sports car in its nearly seven decades on the market.

Several senior members of the Corvette team have hinted at plans in conversations with TheDetroitBureau.com, among other things indicating the new car’s platform could allow space for a battery pack.

(Could an all-electric Corvette crossover be in the works?)

Several purported timetables have emerged indicating Chevrolet is working on hybrid or plug-in versions of the sports car. But when directly asked about the opportunity of a hybrid model, GM President Mark Reuss has responded on several occasions with the company’s new mantra, that it is “on a path to an all-electric future.

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Tesla Chief Musk Now World’s Wealthiest Person due to Record-Setting Stock Price

January 8, 2021 admin

Tesla CEO Elon Musk has ridden the EV maker’s skyrocketing stock to the worlds richest person title.

The ongoing run up of Tesla Inc.’s stock price has made the EV maker the world’s most value automotive company several times over. However, it’s not just the company that’s sitting atop the money list now.

CEO Elon Musk, who owns a massive amount of the company’s stock, has ridden the company’s rising share prices to the title world’s richest man, passing Amazon founder and chairman Jeff Bezos.

With the company’s gains Thursday, the 49-year-old Musk saw his net worth soar to more than $188.5 billion, $1.5 billion more than Bezos, Bloomberg reported. The brash and oft-impatient, which has worked in his favor many times, Musk has seen his personal wealth skyrocket as the value of Tesla shares has leapt eightfold.

(Tesla narrowly misses 500K delivery target for 2020.)

He has a 20% stake in the carmaker and about $42 billion of unrealized paper gains on vested stock options, according to the Bloomberg report.

The battle of the richest currently mirrors the boxing world where are multiple champions in the same weight class. In this case, the Forbes Billionaire’s list still listed Bezos as the top dog with a $7.8 billion bigger balance sheet. Forbes dings the EV maker because some of the stock he owns has been pledged as collateral for personal loans, the company said.

Tesla isn’t Musk’s only venture, with the serial entrepreneur owning controlling stakes in the Boring Company, which builds tunnels designed to alleviate urban traffic; Neuralink, a startup company developing brain-machine interfaces; and SpaceX, which produces rockets that launch payloads into space while landing back on Earth so they can be reused.

(Tesla’s latest system update sounds like real gas.)

The passion for rockets and space is something he shares with Bezos, who created Blue Origin. Much like SpaceX, the company is focused on the development of reusable rockets. The company’s mission calls for those multi-use boosters to take people into space.

Musk was rather blasé about the milestone, tweeting out “How strange” and then “Well, back to work,” He later pinning an earlier tweet about his fortune to the top of his feed.

“About half my money is intended to help problems on Earth & half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens & we destroy ourselves,” he tweeted Oct. 12, 2018.

(Tesla gets green light to sell Shanghai-built Model Y in China.)

The new title is just the latest bit of good news for Musk, who was Tesla fall only just short of his stated goal of delivering 500,000 vehicles worldwide, despite the impact of the COVID-19 pandemic. The EV maker, which has enjoyed four consecutive profitable quarters to be placed on the S&P 500 index, sold 499,550 vehicles in 2020, falling just 450 short of the goal.

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Japan Joins Growing List of Countries Set to Ban Sales of Gas-Powered Vehicles

December 28, 2020 admin

Japanese Prime Minister Yoshihide Suga supports the move to ban the sale of non-electric new vehicles staring in 2035.

Despite strong pushback from the country’s largest automaker, Japan has announced plans to halt the sale of vehicles relying solely on internal combustion engines after 2035.

The move means the Asian nation will join a growing list of countries planning to phase out vehicles powered by gas or diesel, including both the United Kingdom and Norway. A number of other countries, including France and Germany, are considering similar bans.

Vehicles with internal combustion engines won’t be banned entirely. Automakers will still be able to market hybrids in Japan, regulators ruled. Even so, the plan released on Christmas Day was a significant victory for Japanese environmentalists considering it was strongly opposed by key industry leaders, including Toyota President Akio Toyoda who warned earlier this month that a broad shift to electric vehicles could cause the auto industry’s traditional business model “to collapse.”

(Toyota boss Akio Toyoda remains EV skeptic.)

Akio Toyoda, Toyota’s top officer, is against the ban.

As the head of Japan’s largest and most powerful company – and in his role as the head of the Japan Automobile Manufacturers Association – Toyoda hoped to convince regulators to back off on the proposed ban. But it had widespread backing from other quarters, including Japan’s new Prime Minister Yoshihide Suga.

In October, shortly after assuming his post, Suga had pledged to cut Japan’s carbon dioxide emissions to net zero by 2050 while indicating he supported a shift to battery-powered vehicles.

Global sales of electrified vehicles remain modest, running in single digits in all but a handful of markets, even when including hybrids, PHEVs and fuel-cell vehicles, as well as pure battery-electric vehicles. But demand is expected to increase sharply as key obstacles, such as range, cost and public charging, are addressed. It also will help that scores of new BEVs are scheduled to go into production in the coming years, proponents say.

While Japanese automakers were pioneers with their early push to bring hybrids to market, “Japan is very far behind” in terms of developing more advanced products relying solely on battery power, Masayoshi Arai, an official with the country’s

Nissan is one of a few Japanese automakers dedicating resources to a move to EVs.

Ministry of Economy, Trade and Industry, said last week.

Toyota only recently introduced a BEV model in Europe, though it has announced plans to add two more – one through the flagship Toyota division, a second under the Lexus badge. It also this month revealed an all-electric microcar targeting the Japanese home market. Only the Nissan and Mitsubishi brands, among Japanese automakers, have committed significant resources to the development of pure battery-electric vehicles and, even then, they have fallen behind key foreign rivals in terms of bringing new products to market.

(Toyota hopes to boost interest in hydrogen tech with second-generation Mirai.)

Toyota officials have, throughout the years, pointed to numerous concerns about BEVs, including their cost, limited range and other obstacles to widespread consumer acceptance. For his part, company chief Toyoda said this month that he feared a switch to all-electric models would seriously disrupt the classic automotive industry business model. He also raised questions about whether Japan’s electric grid could supply the needed energy — and, if it did add the generating capacity, he warned, that could actually increase the country’s reliance on fossil fuels.

With the debut of the 2021 Mirai fuel-cell vehicle, Toyota’s hoping to spur interest in the tech again.

For his part, Japan’s new prime minister is downplaying such concerns and said that efforts to address greenhouse gas production “should be tackled as a strategy for growth, not as a limitation on growth.”

Downplaying the need for new coal or natural gas plants, the plan released by the Japanese government would add up to 45 gigawatts of new offshore wind generating capacity by 2040.

With the Christmas Day announcement, Japan becomes the second member of the Group of Seven, or G7, to lay out specific plans to ban non-electrified vehicles.

The UK originally had planned to do so by 2040 but now has pushed that target date up to 2030. Like Japan, its ban will continue to permit the sale of hybrids – but only through 2035, at which point only pure, zero-emissions vehicles will be able to be sold in Great Britain. That will include both BEVs and hydrogen fuel-cell vehicles.

Despite its reticence about EVs, Toyota rolled out a new battery-electric car Dec. 25: the C⁺pod.

A handful of other countries, including Norway, have also laid out ZEV transition plans. So have some states and regions – including California and the Canadian province of British Columbia. A number of cities, such as London, Paris, Berlin and Mexico City, plan to bar vehicles not running in zero-emissions mode, meanwhile. China, meanwhile, has laid out plans to have “New Energy Vehicles,” plug-based models, reach 20% of the market by 2025. It is considering a total ban at a later date.

(Britain to ban sale of all new gas and diesel cars by 2030.)

With most of the country’s automakers reluctant to bring plug-based models to market, demand has grown far more slowly than in many other major regions. The Ministry of Economy, Industry and Trade noted that consumers purchased only 6,000 PHEVs and BEVs during the third quarter of 2020. By comparison, demand tripled in Europe to 270,000 – all-electric models accounting for roughly three-quarters of Norwegian sales. China, meanwhile, is expected to again top 1 million plug-based models for all of 2020.

Apple Readying to Bring a New Vehicle to Market in 2024, Report Claims

December 22, 2020 admin

Apple appears to be back in the “building a car” game with an EV said to be coming in 2024.

Tech behemoth Apple Inc. is apparently on again when it comes to its on-again, off-again oft-speculated about Project Titan, after media reports say the company will bring out a vehicle potentially using a cutting-edge battery technology in 2024.

Apple’s been walking the line of potentially building an electric vehicle for most of the last decade, scooping up top tech minds from potential competitors, like Tesla, during that time. However, the company would never officially confirm Project Titan or its plans to build its own car.

However, a few years back, CEO Tim Cook decided to put the rumors to rest, saying the company was working on the development of autonomous technology that could be used by automakers. However, a new report from Reuters, which cites multiple sources familiar with the project, claims that an actual car is coming in three years, separate from the self-driving technology.

(Apple cuts over 200 jobs at autonomous vehicle project.)

Apple CEO Tim Cook has called self-driving vehicles “the mother of all AI projects.”

The tech giant’s been close before, hiring Doug Field, an Apple veteran who had worked at Tesla Inc., to oversee the project in 2018 and laid off 190 people from the team in 2019, according to Reuters. However, since then, the company’s been plugging along and now believes it’s made enough progress to build a vehicle, Reuters reported.

In an age where electric vehicle startups are seemingly commonplace, Apple’s return to the game doesn’t seem all that big a deal, until the report of the new battery design comes into play. Automakers are looking to improve batteries significantly so the costs will be on par with a vehicle with a gasoline- or diesel-powered engine.

The sources told Reuters that the new design could “radically” cut the battery cost while increasing the vehicle’s range. Current range for the top EVs exceeds 300 miles on a single charge, but Tesla, Lucid, General Motors and others are proclaiming that they’re pushing beyond 400 miles with their current vehicles. By the time an Apple EV shows up in 2024, the range could be double that, if not more.

(Apple files patent linked to AV driving.)

According to the story, the iPhone maker plans to use a “monocell” design. It bulks up the individual cells in the battery, freeing up space inside the battery pack by eliminating pouches and modules holding battery materials. The design allows for more battery material to be stuffed in the battery, extending its range.

Apple’s autonomous vehicle — a T6 Transporter van from Volkswagen.

Additionally, Reuters reported that Apple is researching a new battery chemistry: lithium iron phosphate, also known as LFP. Its primary advantage is that it’s less likely to overheat, making it safter than other batteries.

Apple’s big checkbook instantly makes it a player in any market it chooses to compete, but building a car isn’t the same as building a phone or a laptop. Tesla has struggled with its production issues and quality problems plague each of their vehicles when they roll off the assembly line during the early launch and even well beyond that time frame.

(Apple’s autonomous vehicle involved in California crash.)