#EVs

On Wednesday, Stellantis CEO Carlos Tavares suggested that Tesla’s profitability was on the decline due to the automaker having to confront some of the issues of a legacy manufacturer.

"They are entering my world, the world of tight pricing, cost competitiveness, and the operational issues that a big company like ours may face," Tavares told the press during a presentation of Stellantis’ half-year financial report. 

Since everyone loves a little industrial drama, the statement became national news. But is Tesla really on the decline because it’s finally on the level of other multinational automakers or is Tavares just coping? 

With all the odd press it’s gotten over the last year, it’s easy to assume VinFast is looking to roll up the carpet and head back home. That’s not what’s happening, however, as the automaker recently announced a groundbreaking date for its new manufacturing facility in North Carolina.

Tesla clearly isn’t just a car manufacturer anymore - it’s a buzzword. For some, it’s a synonym for disruption and innovation; for others, that disruption and innovation aren’t all that welcome. And Tesla’s existence is inextricably linked to politics, the ongoing “Full Self Driving” soap opera, and the Almighty’s gift to headline writers himself, Elon Musk. All of this tends to polarize people into “Love Tesla” and “Loathe Tesla” camps, but I think both camps would agree about the brand’s impact - the company has revolutionized the way mass-market cars are designed, powered, and sold.

“We don’t need jobs,” said Fred Chapman, a 62-year-old toolmaker, when interviewed by Reuters about a new battery factory Ford wants to build near Marshall, Michigan. “I know what lithium is – it’s a very volatile element,” added Glenn Kowalske, a retired engineer who, according to LinkedIn, earned his degree in the 1970s.

The Kia EV6 gets most of the attention when it comes to Kia EVs. That and the upcoming EV9. But the EV version of Kia’s Niro flies a bit under the attention radar.

Canadian dealers of Mercedes-Benz vehicles are reporting that the automaker is considering revising its strategy for North America.

The dealers attended a market-wide retailers meeting in Vancouver held in May and noted that the automaker was fretting about consumer hesitancy over expensive electric vehicles. Concerns centered around the ailing economy, which has been undermined by higher interest rates and ongoing inflation.

On Tuesday, Lordstown Motors Corp. (LMC) officially filed for bankruptcy and sued Foxconn. Though the writing was already on the wall for the Ohio-based electric vehicle manufacturer. Lordstown’s share price collapsed in 2021 and the company has suffered numerous production delays. This seems to have encouraged the Hon Hai Technology Group/Foxconn to back out of its strategic partnership.

But it’s not bad news for everybody. Former chief executive of Lordstown Motors, Steve Burns, managed to sell off every share of his stock before the company filed for Chapter 11. You might remember him as the executive who abruptly quit the company without explanation shortly after LMC's stock valuation slammed into the pavement.

While most automakers were working out what their first all-electric model should be, Tesla was building up a proprietary charging network that helped assure that it would be the EV manufacturer other brands would envy. The vehicles themselves certainly became the benchmark for electric vehicles. But it was the network that guaranteed Tesla’s dominant position in the market. Simply having access to the Supercharger stations is one of the biggest perks of owning a Tesla, as they’re relatively common and suffer less downtime than rival networks.

Despite originally being exclusive to Tesla customers, the brand has decided to open its ports up to the whole world. Ford and General Motors have even signed agreements with the company so that their customers can utilize those charging stations in 2024. Now it appears to be Rivian’s turn.

Sixty-five grand doesn’t fetch you what it used to, it seems.

Yes, sure, prices inflate over time, we all know that. But even accounting for that fact, and even accounting for the fact that electric vehicles are commanding premium prices and likely will for the foreseeable future, I was nevertheless disappointed with the experience of being loaned a 2022 Audi 50 e-tron quattro* for a week.

Toyota chairman Akio Toyoda recently discussed a sporting EV prototype the company has been working on, noting that the model has the simulated manual transmission that’s been the subject of much controversy. Many have claimed a stick-shift electric wouldn’t happen, as it would add cost and needless amounts of complexity for a brand that’s traditionally been averse to both concepts.

However, the brand seems to be running with the concept. Lexus had already toyed with the idea and Akio is now praising the unit that’s been equipped with the Toyota-branded prototype.

While Toyota Motor Corp is known for casting a wide net and acting cautiously, it recently made some fairly lofty statements about its strategy regarding all-electric vehicles. Despite the brand offering the humble bZ4X as its singular EV on the North American market, Toyota is suggesting subsequent models driving ranges that model would envy. 

We've reported on Ford and GM reaching agreements to use Tesla's EV charging standard.

So the obvious question is -- who's next?

Despite all-electric vehicles being heralded as environmentally sound solutions that would kick down the door to affordable mobility, there haven’t been a lot of good examples hitting the market recently. Most models are aimed at the affluent, resulting in 9,000-pound behemoths with six-figure price tags. General Motors recently released the absolutely ludicrous GMC Hummer EV while the Chevrolet Bolt is being discontinued.

Meanwhile, Volvo has introduced the EX30 — a pint-sized EV that’s to serve as the foundation of its all-electric transformation. But it’s difficult to say whether or not it’s going to deliver on those early promises of electrification.

Quick, better run out and buy that Type 2 lover in your life some flowers or, ahem, some other plant life. Today, June 2nd, is International Volkswagen Bus Day, according to the National Day Calendar people. Raise a bong in celebration.

VW chose to celebrate by unveiling the three-row version of their all-electric Volkswagen ID. Buzz today in Huntington Beach, California, surrounded by a beachful of classic Microbus brethren. While the two-row ID. Buzz has been available in other countries, we in America are in need of something a bit more substantial, so a proper three-row minivan is what will be offered here.

On Wednesday, Toyota Motor Corp. confirmed that its first U.S.-made all-electric vehicle will be assembled in Kentucky starting in 2025. The Georgetown facility is the automaker’s largest in the world and will be incorporating a three-row EV into its production lines once Toyota’s battery plant in North Carolina is completed.