#EVs

On Monday, the United States Treasury Department said it will issue proposed guidance for the updated EV tax credit scheme in March of 2023. However, the Inflation Reduction Act (H.R. 5376) directed the department to finalize its recommendations before 2022 was over by setting a December 31st deadline. While it sounds like bad news for automakers, the delay may actually work to their advantage by delaying new mineral and battery component requirements that may have made vehicles using foreign-sourced batteries ineligible.

As the best-selling vehicle in the U.S. and very nearly a brand (if not an entire economy) unto itself, major news about the Ford F-series pickup is almost always going to be the most significant automotive news of a given week – but, while there is huge F-150 news this week, the Blue Oval brand is going to have to take a back seat to this shocker: For the first time in well over a decade, the cost of making an EV battery has gone UP.

Reuters is out with a report today showing that while the industry continues to make a strong effort to transition to electric vehicles, the ride won't be smooth, especially for investors.

With automobiles becoming heavier every year, the Insurance Institute for Highway Safety (IIHS) has announced that it’ll be updating its crash-testing rigs to handle more weight. Up until now, the heaviest model to see an IIHS sled has been the roughly 6,000-pound Audi e-tron. While all vehicles have been packing on mass lately, EVs tend to be substantially heavier than their combustion-reliant counterparts due to the battery. For example, the new GMC Hummer is so insanely heavy that there are roads that its 9,600-pound frame simply cannot handle. All that mass likewise means the IIHS is going to have a hell of a time doing any crash testing if its equipment isn’t ready.

Hoovie's Garage, aka Tyler Hoover, is a popular YouTube influencer, and he's claiming he's "done" with his Ford F-150 Lightning, which he owns with a friend, because the range in the winter isn't good enough.

With the United States having successfully passed the Inflation Reduction Act over the summer, the financial floodgates have been opened for battery suppliers. Despite often being framed as a massive infrastructure package that would also help tamp down U.S. inflation, the bill also included numerous items from the Biden administration’s climate agenda setting aside billions for industries vowing to go green. This includes the joint venture between General Motors and LG Energy Solution – which will receive $2.5 billion in loans to build three new lithium-ion battery factories.

Hyundai is the latest major automaker to announce a major electric vehicle battery production facility in the United States. Ford, General Motors, and others have already broken ground on new facilities, and Hyundai is joining them with an up to $5 billion investment in Bartow County, Georgia.

Volkswagen Auto Group has plans to extend the range of its Modular Electric Drive System (MEB) platforms for electric vehicles.

The plan is not only to increase the range but also cut charging times -- and the platform will be renamed to MEB+.

The biggest EV news of the last week has to be the official start of Tesla Semi deliveries, which were perfectly timed (intentionally or not) to drown out the news that the electric car brand had been forced to slash prices in both China and the US in the face of reduced site traffic and waning approval for the brand as-a-whole.

Connecticut legislators from both sides of the political fence appear to be less than thrilled with Ford about the deadline it’s imposing on dealerships vying to sell all-electric vehicles. Blue Oval wants retailers to make sizable investments to install on-site charging stations and retrain their staff on how to service EVs. For some stores, this means doling out over one-million dollars just to have the privilege of selling the latest models coming from the Ford Motor Company.

A new study shows that a lot of Tesla buyers are coming to the brand from Honda and Toyota.

The latest episode of the TTAC podcast is here!

Depending upon where you live, battery electric vehicles are either gradually becoming commonplace or rarer than a two-dollar gallon of gasoline. A new study from S&P Global has helped illustrate the current regional phenomenon, with an accompanying report that suggests it won’t be lasting forever due to the industry pivoting to build more mainstream EVs while the United States expands its charging network.

Today is one of those days in which I pose a QOTD based on an earlier news story -- as if you all aren't already arguing in the comments.

Ford CEO Jim Farley warned last week of "storm clouds" for auto workers as the eventual transition to electric vehicles will require fewer workers -- 40 percent fewer, according to Farley.