All articles tagged with #electricvehicles
Ferrari's first EV, the Luce, designed with Jony Ive, faced online ridicule yet is on track to meet its 2026 target of 500 units (out of 2,500 by 2030) with strong orders and a raised full-year forecast; Q2 revenue reached 1.94 billion euros, and the company remains focused on attracting wealthy buyers in China and Silicon Valley, even as U.S. EV sales soften.
England’s HPV vaccination program is driving cervical cancer deaths among young women toward zero; India has halved its smoking rate this century, and six marine protected areas were named Blue Park Award winners. Global blood donations rose about 19% since 2013 (though access remains unequal). The green economy surpassed $10 trillion, urban beavers mitigated flooding in west London, and innovations such as Teplizumab delaying type 1 diabetes onset by up to three years and UK EVs outselling petrol cars signal broad progress.
Tesla's stock surged to a record high of $400 after Goldman Sachs raised its price target to $345, driven by strong sales figures, growth plans, and investor confidence in CEO Elon Musk's ties with the incoming Trump administration. The company's advancements in robotics and AI, along with the popularity of the Model Y in China, have further fueled investor interest. Analysts highlight Tesla's international sales and AI demand as key growth drivers.
Lucid Motors' new Gravity SUV has received an EPA-estimated range of 450 miles, slightly surpassing its initial 440-mile claim. The vehicle, which began production last week, features three rows of seating and a frunk, and is the first Lucid model to include a native NACS port for Tesla Supercharger compatibility. Prices start at $94,900 for the Grand Touring model, with cheaper versions expected in the coming years.
Hyundai has partnered with Amazon to launch Amazon Autos, a platform allowing customers in 48 cities to purchase Hyundai vehicles online, bypassing traditional dealerships. This service offers a seamless buying experience similar to that of Tesla and Rivian, enabling users to select a car, arrange financing, and complete paperwork online. While currently limited to Hyundai, Amazon plans to expand the platform to include more manufacturers and features. This move addresses issues with Hyundai's dealer network and reflects a growing trend towards online car sales.
China's recent export bans on critical materials like graphite, gallium, germanium, and antimony threaten the US auto industry's transition to electric vehicles (EVs). These materials are essential for EV batteries and semiconductors, putting pressure on US companies like Tesla and Rivian. The bans come amid escalating trade tensions between the US and China, with the US imposing export controls on Chinese tech firms. The situation highlights the US's dependency on China's supply chain for EV components, raising concerns about the future competitiveness of US legacy automakers like Ford and GM.
Tesla is set to launch a new, more affordable electric vehicle, internally known as "Model Q," with a target price under $30,000 USD. The vehicle, expected to be smaller and lighter than the Model 3, will come in two variants: a single-motor RWD and a dual-motor AWD, with ranges up to 310 miles. Production is anticipated to begin in mid-2025, aiming for 500,000 units annually. This model is part of Tesla's strategy to expand its market reach with cost-effective options.
Lucid has begun production of its three-row electric SUV, the Gravity, at its Arizona plant, meeting its promise to start by the end of 2024. The first models available will be the high-end Grand Touring trim, priced at $96,550, with a range of 440 miles per charge. An entry-level version, the Gravity Touring, will be available mid-next year starting at $81,550. The Gravity features a 900-volt electrical architecture, allowing for rapid charging, and is built on Lucid's new crossover platform. This move positions Lucid as a serious contender in the electric SUV market.
Tesla shares rose as Morgan Stanley analyst Adam Jonas increased his price target to $400, citing Tesla's leadership in autonomous driving and potential benefits from Elon Musk's relationship with President-elect Trump. Despite potential challenges like reduced EV tax incentives and new tariffs, Tesla's market value has surged by $450 billion since Election Day. Analysts expect Tesla's AI and self-driving technologies to expand its market reach, with regulatory support anticipated under the new administration.
Lucid Motors has begun production of its new Gravity SUV, a seven-seat electric vehicle, at its Arizona factory, marking a crucial step for the company as it seeks to expand beyond its Air sedan. The Gravity SUV, which boasts a range of up to 440 miles, is seen as vital for Lucid's financial turnaround, given its recent substantial losses and reliance on the Saudi Public Investment Fund for financial support. While production of the lower-priced Touring trim won't start until late 2025, Lucid is also planning a mid-size SUV platform aimed at competing with Tesla's popular models, though production is not expected until late 2026.
Aspen Aerogels is developing a highly effective thermal insulation material, aerogel, to prevent the spread of fires in electric vehicles (EVs) caused by lithium-ion battery thermal runaway. The U.S. Department of Energy has provided a $670.6 million loan to Aspen Aerogels to build a new factory in Georgia, aiming to enhance EV safety. Aerogel, which is 99% air, acts as a firewall by slowing down heat transfer, thus containing fires without preventing them. This technology is also applicable in other industries, including natural gas transport and space exploration.
Donald Trump's transition team is considering canceling the U.S. Postal Service's contracts to electrify its delivery fleet, aligning with Trump's campaign promises to reverse President Biden's climate policies. This move could affect multibillion-dollar contracts with companies like Oshkosh and Ford for electric mail trucks and charging stations. While Oshkosh shares fell following the news, analysts suggest a complete cancellation is unlikely, though a shift towards more fuel-powered vehicles could occur. The USPS's autonomous status may complicate any contract changes.
Donald Trump's transition team is considering canceling the U.S. Postal Service's contracts to electrify its delivery fleet, aligning with Trump's campaign promises to roll back President Biden's climate policies. This move could affect multi-billion dollar contracts with companies like Oshkosh Corp and Ford, which are set to supply tens of thousands of electric vehicles and charging stations. The USPS, an autonomous federal agency, faces legal challenges in severing these contracts, but Trump's administration is exploring its options to reverse Biden's decarbonization efforts.
Tesla's stock rose after Bank of America analysts set a $400 price target, significantly above the current average and recent closing prices. The analysts maintained a "buy" rating, citing Tesla's growth potential in areas like EVs, robotaxis, and software. They also suggested Tesla might raise capital to fund these ventures, highlighting the company's efficient capital deployment. Tesla's stock is up about 50% for the year, though still below its 2024 highs.
Pope Francis has received the first all-electric popemobile from Mercedes-Benz, marking a significant step towards sustainable transportation for the Vatican. The modified G-Class vehicle, equipped with four individual motors for low-speed travel, allows the Pope to greet visitors while promoting electromobility and decarbonization. This move aligns with Pope Francis' previous experiences with zero-emission vehicles, including a hydrogen-powered Toyota Mirai and a Renault Kangoo electric van.