#EVs

There is plenty of electrification news this week, despite the brunt of consumers remaining seemingly disinterested in the automotive segment that’s entirely dependent upon batteries. General Motors recently announced that it would be increasing its EV investments through 2025 to $35 billion, noting that some amount of the funding will also be going toward autonomous vehicle development.

Meanwhile, Stellantis confirmed that it’s planning a quartet of battery-driven automobiles offering more utility than the pint-sized Fiat 500e. Those vehicles aren’t supposed to see assembly until 2024 and there are lingering questions about where the firm plans on building battery plants. But the UILM union has confirmed that the upcoming models are likely to be midsized and built at the company’s Melfi plant in Italy.

Starting a car brand has to be among the more foolhardy endeavors one can embark upon. The industry is saturated with giant, multinational companies that don’t want competition and a regulatory environment that requires a ludicrous amount of wealth and plenty of time to overcome. Despite this, we’ve seen countless electric vehicle startups attempting to accrete into something profitable over the last few years. But even the winners have found themselves wholly dependent upon government-backed. carbon-credit schemes or blank-check firms designed to guarantee their IPOs are astronomically high — often before they’ve shown a functional prototype.

This makes distinguishing a company with potential from those that are dead on arrival incredibly difficult. Though it’s getting easier to see which side of the fence Lordstown Motors will be occupying after a particularly grim string of months. One of its prototypes spontaneously combusted during testing last March, at roughly the same time Hindenburg Research was accusing it of fraud. More recently, the business lost CEO Steve Burns and confessed that it was in desperate need of money to start production.

After years of restarting and then killing its electric vehicle program, Apple has again signaled that it’s once again serious about developing something for your driveway. Ulrich Kranz, former Canoo CEO and brains behind the BMW i-cars, has reportedly been picked up by the company for its automotive team.

Apple has yet to verify the hire and Kranz hasn’t updated his LinkedIn profile. But there have been multiple reports that he’s been been taken aboard specifically for his EV expertise. Unless social networking platforms are becoming passé (fingers crossed), it’s likely that the tech company wanted to wait until it could make an official announcement accompanied by an update on development.

That’s assuming Apple is still doing a car, however.

Having covered the White House’s incredibly expansive and costly infrastructure plan, specifically as it pertains to transitioning the entire nation toward alternative energy vehicles, we’ve often found ourselves asking questions. Puzzlers include wondering whether or not consumers actually want this change and how can we possibly expect to pay for this when we’ve already starting conjuring money out of thin air for other government programs. We don’t even know where we’re supposed to get the rare-earth minerals necessary for production when mining them is heavily regulated in the United States and hardly an endeavor that would be considered kind to the natural landscape.

Last week proved that we weren’t entirely alone in pondering how all of this greenification is supposed to work.

What does the future hold for Tesla in China? Expansion, or exports?

That’s the question being asked by an Automotive News story today.

On Wednesday, the Senate Finance Committee advanced the Clean Energy for America Act making a few tweaks from earlier proposals. Changes include raising the federal EV tax rebate ceiling to $12,500 and opening the door for automakers who already exhausted their production quotas.

It’s good news for General Motors, which recently begged the government for just such a handout. But any manufacturer participating in the sale of electric vehicles will find themselves similarly blessed by the updated rules — assuming they make it through the halls of Capitol Hill with the necessary support.

Let’s take a peek behind the curtain to see what the updated proposal entails.

One of the biggest contributors to EV skepticism are the companies associated with furnishing the technology. While brands like Tesla have unquestionably proven that there’s a market for electric cars, there’s a cadre of startups that seem built on a foundation of falsehoods and do nothing other than vacuum money to feed hypothetical products that never seem to manifest in the physical realm. But the problem is that it’s incredibly difficult to distinguish between them when even Tesla participates in making wild promises it clearly has no intention of keeping and is heavily dependent on regulatory issues favoring EVs — specifically via the sale of carbon credits.

Lordstown Motors has occupied a gray area between the extremes. However, it recently cut this year’s production targets by more than half, warranting some legitimate concern.

After clandestine meetings with Pope Francis, Fisker is reportedly going to develop an electric Popemobile — a term the Vatican has repeatedly asked everyone to stop using. Due to arrive next year, the vehicle is supposed to be a heavily modified version of the brand’s upcoming electric Ocean crossover.

Pope Francis has long been presenting himself as a surface-level environmentalist with absolutely terrible taste in automobiles. He added two Toyota Mirais to the Status Civitatis Vaticanae garage in 2020 while predictably flipping a Lamborghini Huracán (built specifically for him by the company) in 2018. His Alleged Holiness is also said to be partial to the Fiat 500L, Nissan Frontier, and Isuzu D-Max — though he frequently rides around in locally produced customs as a way to ingratiate himself with the masses he’s visiting. Provided they’ve met the needs of the trip and cater specifically to the pope’s preferences, he’s not picky.

Last week, Toyota financial results for the fiscal year that ended March 31st were announced. Vehicle sales totaled 7,646,000, a decrease of 1,309,000 units, or a little less than 15 percent compared to the previous fiscal year.

Net revenue was $256.7 billion, an 8.8 percent decrease. Operating income decreased from $22.6 billion to $20.7 billion, while income before taxes amounted to $27.6 billion. Net income was up from $19.2 billion to $21.1 billion.

Volkswagen Group CEO Herbert Diess was bashing hydrogen-powered vehicles on Twitter this week in an attempt to convince those vying for Germany’s chancellorship not to embrace the technology. With Angela Merkel stating that she’ll not seek a fifth term, the country is open for new leadership and VW wouldn’t want them to take a liking to hydrogen power when it has placed all of its eggs into the electric vehicle basket.

“The hydrogen car has been proven NOT to be the climate solution,” Diess wrote on Twitter in German. “In transportation, electrification has prevailed. Sham debates are a waste of time. Please listen to the science!”

The Ford F-150 Lightning has been the hot topic of the day in the auto world since its unveiling last night, and we here at TTAC HQ are no exception.

Just this morning, our Slack discussion was about the truck’s sales potential. We came to the not-at-all surprising conclusion that yes, it will sell.

Lightning does strike twice, apparently, but perhaps not in quite the same way each time.

The Ford F-150 Lightning was once a hi-po street rod with power coming from a V8 engine. Now, however, the truck is all-electric.

Lamborghini CEO Stephan Winkelmann announced on Tuesday that the Italo-German supercar brand will officially be transitioning to electric vehicles, with the last traditional internal combustion model coming before 2024.

But these kinds of proclamations rarely adhere to observable reality, otherwise, we’d all be riding around in flying cars that can navigate autonomously. What Lamborghini is really promising is an intent to abandon models that rely exclusively on combustible fuels while it builds a bunch of them in the interim. It’s kind of like saying you’re going on a diet next month and gorging yourself on chocolate cake as you brag to your friends about how healthy you’re about to become.

New York City’s Times Square might be one of the most electrified places on the planet.

The place is festooned with electronic billboards and advertisements that run pretty much 24/7/365.

What better place for the unveiling of the 2022 Kia EV6?

A Tesla autonomously rammed a Snohomish County, Washington sheriff’s deputy’s Ford Explorer SUV. As reported by Nexstar Media Wire, the incident occurred over the weekend.

The parked SUV sustained heavy damage. There were no injuries to the driver or the deputy. There was no word on the extent of the damages to the Tesla.