#ElectricVehicles

Here's a brain buster for you: Let's say you woke up tomorrow flush with cash. More than you could possibly ever spend. So you decided to invest of some of it. Knowing EVs are poised to become a larger part of the automotive market, you bet on a startup.

Which one do you choose?

Senate Democrats have settled on how to funnel more money into the automotive sector using all-electric vehicles and environmentalism. Majority Leader Chuck Schumer and West Virginia's Joe Manchin have reportedly agreed on a proposal that would expand the $7,500 tax credit for EVs while also introducing a new $4,000 subsidy for used models.

But that's just to kick things off. The legislative package is likewise said to include $369 billion that's been earmarked for climate and energy spending. For automakers, that means massive financial help from the government whenever they want to convert their existing factories into the kind that build all-electric vehicles. Though it may not be limited to EVs, as the updated language now makes fuel cell vehicles similarly eligible for the proposed industry subsidization.

A report, citing unnamed sources, has claimed Ford is planning to eliminate up to 8,000 jobs in North America to free up capital for its ongoing transition to all-electric vehicles. Cuts are expected to begin later this summer and will allegedly target salaried employees working within the “Ford Blue” unit the automaker created to specialize in gasoline-driven vehicles. 

This follows earlier statements made by CEO Jim Farley, who warned in February that the company had too many people on its payroll and specifically lacked the expertise required to reposition itself as an automaker specializing in EVs. Though this isn’t really unique to the Blue Oval, as the entire industry knew that manufacturing electric cars would require far less manpower. 

Despite hardcore motorsport enthusiasts collectively proclaiming the 911 as Porsche’s greatest model of all time, it’s presently being outsold by the all-electric Taycan sedan. As a subsidiary of Volkswagen Group, Porsche was already poised to electrify its entire lineup in anticipation of government restrictions on gasoline-powered models. But consumer interest in high-end EVs may be accelerating the process.

The 21st century has been particularly kind to the Hyundai Motor Company, though this was hardly a matter of chance. Originally known in the West for providing bargain automobiles that were surprisingly competent, it wasn’t long before the South Korean brand was giving Japanese mainstays stiff competition. By the early 2000s, Hyundai was working hard to differentiate itself from the recently acquired Kia and opted to make its products more luxurious and saw massive gains in the U.S. market that have more-or-less continued until today.

General Motors has announced a national network of quick charging stations for electric vehicles to be installed at Pilot and Flying J truck stops. Managed by EVgo (a subsidiary of the South Korean LS Group), the network may be the final piece of the puzzle for GM to make good on its promise to go all-electric. It’s already spent oodles on development, created partnerships with global battery suppliers, and now has a glut of EVs on the way –a glut of product that GM is hoping will resonate with consumers.

In 2010, Nissan launched the first globally-marketed electric vehicle in history. Known as the Leaf, the model offered a paltry 73 miles between charges when it was introduced. But deserves loads of credit for being a useful, friendly runabout that avoided many of the strange design choices other manufacturers leveraged to set their EVs apart. Reviewers frequently praised the Nissan Leaf as a great second car for running errands, noting that it was both comfortable and had enough space to swallow up most items you’d want to snag on a trip into town.

An acquaintance of mine recently said he would never purchase an all-electric vehicle and offered up a reason I never heard before. “They don’t come with AM radio,” he said.

While this surprised me, shifting technological preferences have indeed started to change how automobiles and broadcasters interact. As an example, a gaggle of Mazda owners found their vehicles stuck tuned to National Public Radio this February after a local station transmitted an FM data packet that effectively froze the cars’ infotainment system amid the swap to next-generation broadband services. That transition has already caused some interesting problems for the industry and electromagnetic interference has likewise become the default explanation for automakers limiting your frequency band choice in certain vehicles. But it doesn’t explain why some companies are ditching AM radio outright. In fact, a little research has shown a lot of the explanations given by manufacturers leave a lot to be desired.

Word on the street is that General Motors will be discontinuing its existing full-size vans to make way for electrified alternatives. While the gut reaction may be to recoil in disgust at the very premise that Euro vans would dare usurp the rightful place of one of the most venerable working vehicles in North America, it might be worth remembering that the Ford Transit has managed to supplant the Econoline/E-Series rather effectively.

In 2020, Hyundai Motor Group unveiled the Prophecy concept EV which everyone immediately noticed had embraced an alternative, almost opposite, design language from the angular 45 concept. The latter model went on to serve as the blueprint for the Ioniq 5, whereas the Prophecy has morphed into the Ioniq 6 you see before you.

Volkswagen has suspended production of the all-electric ID. Buzz model in Hanover, Germany, with local media citing problems with the battery system.

A few years ago, the industry narrative was that all-electric vehicles would reach financial parity with their combustion-driven counterparts in 2025. The assumption was that this would gradually occur by way of ramping up battery production and leveraging economies of scale. However, reality had a different take, as the world is now confronting record-setting prices across the board. Manufacturer and dealer hikes have resulted in the average invoice of EVs rising to $54,000 — roughly 10 grand higher than the typical transaction price of gasoline-powered vehicles, according to J.D. Power.

With economic pressures spiking the value of all automobiles, hardly anything is leaving the lot for less than it could have been had for in 2020. But the increases seen on all-electric models are actually outpacing the models we’ve been told they’re supposed to replace.

Ford Motor Co. will be suspending end-of-lease buyout options for customers driving all-electric vehicles, provided they took possession of the model after June 15, 2022. Those who nabbed their Mach-E beforehand will still have the option of purchasing the automobile once their lease ends. However, there are some states that won’t be abiding by the updated rules until the end of the year, not that it matters when customers are almost guaranteed to have to wait at least that long on a reserved vehicle.

Toyota and Subaru are recalling their new all-electric models, though EV fans will be pleased to know that the issue has nothing to do with the battery packs. Instead, the affected vehicles run the risk of losing their wheels under sudden braking or sharp turns — which I suppose isn’t much of an improvement over the possibility of an electrical fire.

The good news is that the problem is limited almost entirely to demo models of the Toyota bZ4X and Subaru Solterra the companies wanted to use for promotional purposes. While they may eventually have found their way into residential garages, the original intent was to have them attend trade events and serve as test models on dealership lots. That’s likely to remain the plan, too. But only after the automakers comply with the demands of Japanese regulators.

Last week, news broke that Ferrari was plotting a third assembly line in Maranello dedicated entirely to EV production. But this turned out to be little more than a preamble for the obligatory announcement that the company would eventually transition toward building electric vehicles.

On Thursday, the Italian automaker told investors that all-electric and hybrid models will make up 80 percent of its global sales volume by 2030. This is to be done via a slew of new products it hopes to launch between now and 2026. Though the first Ferrari to run exclusively on battery power isn’t scheduled to arrive until 2025. According to the manufacturer, it’s plotting to launch 15 new vehicles as part of the overarching strategy. While some of those will undoubtedly be duplicates boasting open-air cockpits and slightly different powertrains, it has still got to be some kind of record for the brand.