GM to invest $760 million in EV drive plant
... which employs 1,500 people. In August, the U.S. Congress approved financial incentives that encourage automakers to convert their plants to produce parts for electric vehicle models. GM said that once the plant is converted, it will produce a family of EV drive units that convert electric power from the battery pack to mechanical motion at the wheels. The plant will produce transmission parts, while building drive units simultaneously during GM 's EV transition, it added. Many workers have expressed ...
Updated: 09/28/2022
Nio may invest $83 million in Australia-based miner
... yuan $83.74 million in Australia-based miner Greenwing Resources Ltd , which is said to be stepping up its development of the San Jorge project in Argentina. Nio's investment will help it expand its global footprint and secure raw material supply for EV batteries, observers said. Nio's move came after the price of lithium, a key material used in EV production, surged over 700 percent since the beginning of 2021, which has resulted in a surge in battery pack prices, according to S&P Global Commodity ...
Updated: 09/28/2022
China recovery from COVID-19 trough, refiners say
... Wu Qiunan , chief economist at PetroChina International , pointing out better demand growth in the fourth quarter compared to the third. He said that mobility restrictions could lift gasoline consumption next year, although strong electric vehicle EV sales, which hit 6 million units in the first eight months this year, will affect growth in the motor fuel. He said this may lower gasoline demand growth even as consumption is expected to recover when China eases COVID 19 restrictions. Both executives ...
Updated: 09/28/2022
Toyota plans to start sales of BYD-powered sedan
... advocated for a small car that doesn't compromise on comfort as the best way to popularise BEVs, but it has struggled to produce one. The need to stack bulky batteries under the floor has eaten up interior space unless the roof is raised, which is why many EVs are taller SUVs. The bZ 3's smaller sedan configuration has made it feasible chiefly because of BYD's thinner lithium-iron phosphate LFP Blade battery technology. One source said a typical Blade pack is about 10 centimeters 3.9 inches thick when the ...
Updated: 09/28/2022
Tesla to hold production at Shanghai plant despite upgrade
... decision not to run the plant at full tilt, though one said the figure was lower than expected. Tesla did not respond to a request for comment on Tuesday. The move comes at a time of growing competition from domestic manufacturers of electric vehicles EV in a weaker economy, as consumption falls due to strict COVID 19 curbs. The upgrades can produce 14,000 Model Ys and 8,000 Model 3s, according to the sources. Tesla is trying to keep it running at full capacity, except during the upgrade and a city-wide ...
Updated: 09/28/2022
Jaguar Land Rover retrains 29,000 staff to develop electric vehicles
Jaguar Land Rover will retrain 29,000 employees at retailers around the world over the next three years to design, build and service electric vehicles EVs, ahead of its shift away from fossil fuel cars, according to luxury British carmaker LONDON Reuters. Jaguar Land Rover will retrain 29,000 employees at retailers around the world over the next three years to design, build and service electric vehicles ...
Updated: 09/27/2022
Hertz CEO Stephen Scherr says holiday bookings are ‘very strong’
... employees in an electric vehicle to meet some of their carbon footprint objectives. Hertz inked a deal late in 2021 to purchase 100,000 Tesla Model 3 s for its fleet by the end of 2022. The Tesla Model Y was added to the mix. The company has signed EV deals with General Motors GM and Polestar PSNY. The company intends to have 25% of its fleet of EVs by the end of 2024. About 5% of the fleet is electric, according to Scherr. Scherr struck an upbeat tone on the outlook for holiday season bookings ...
Updated: 09/27/2022
Harley-Davidson CEO says company is doing well despite stock market turmoil
... is able to travel about 146 miles on a single charge. After the debut of the LiveWire One, Zeitz established the business as a standalone entity as a precursor to the spin-off news this week. The company is currently taking pre-orders on its $16,999 EV dubbed the S 2 Del Mar. Brian Sozzi is an anchor at Yahoo Finance . You can follow Sozzi on Twitter and LinkedIn.
Updated: 09/27/2022
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