VW and JV partners invest €15Bn in e-mobility in China
Volkswagen will invest around 15 billion euros in electric mobility in China by 2024 with its three joint venture partners SAIC, FAW and JAC. This comes in addition to the €33Bn the Group had already announced in 2019 for the global development of the electric car sector.
Rumours condense around Karma insolvency
Karma Automotive will apparently soon file for Chapter 11 insolvency, meaning a chance for restructuring under court supervision. Several months ago, there were already reports that had raised substantial doubts about the company’s business practices.
Karma Automotive rumoured to be in deep trouble
With the Revero GTE, Karma Automotive plans to launch its first all-electric car next year and said it would sell the platform to third parties. A US media report is checking the claims a little closer – and claims many of the announcements are simply untrue.
Webasto & A123 building batteries for large EVs
Supplier Webasto has signed a strategic cooperation agreement with Wanxiang A123 of China to set up a dedicated battery system facility for electric trucks and buses in China. The partners build on tried and tested NCM cells of A123.
Wanxiang to build 80 GWh battery factory
The Chinese supplier Wanxiang Group is investing about 10 billion dollars to build two factories in Hangzhou – one to produce electric vehicles, and another to build batteries worth an incredible 80 GWh. Plans also include a R&D centre.
BMW, Wanxiang, Faraday Future, Honda, Mercedes, Local Motors.
BMW enters power storage market: The move was already suggested when BMW announced its joint venture with Viessmann. German WirtschaftsWoche now reports that the carmaker will definitely begin selling new and used i3 batteries to power homes this year. Moreover, the batteries will not need to be modified to be used as storage in combination with a photovoltaic system.
handelsblatt.com, wiwo.de (in German)
Wanxiang invests: The Chinese company says that in the coming ten years, it wants to pour some 200bn yuan (30bn dollars) in the research and development of electric cars and buses, as well as batteries and other components for electric vehicles. The goal is the decrease battery prices by two thirds in three years, while doubling production.
FF gets cash injection: Faraday Future will officially receive 215.9m dollars in subsidies for its electric car factory in Nevada. Construction is said to begin at the end of the months, with the production site scheduled to be completed in the second half of 2017.
Honda Clarity FC priced: In the U.S., the fuel cell vehicle will be available from 60,000 dollars and can be leased for less than 500 dollars per month, the Japanese carmaker announced. The Clarity Fuel Cell will hit the road in California this year already and can initially be leased only.
carscoops.com, worldcarfans.com, electriccarsreport.com
Made in Thailand: Mercedes announced that it will begin producing its S500e and C350e plug-in hybrids in its factory in Thailand. The production site has a capacity of 19,000 units per year, but currently only produces 4,500, including three of the carmaker’s hybrid models.
Local Motors gets wings: Airbus is investing 150m dollars in the U.S. company known for its 3-D printed electric vehicles. According to Airbus, the vehicle model and especially the speed of production could be interesting to the aerospace industry as well.
Wanxiang, Renault, Bentley, Mitsubishi, BMW.
Wanxiang up for competition: Lu Guanqiu, CEO of the Chinese carmaker, announced in a first interview after having bought Fisker that he plans on building electric cars in China and the USA. His ambition seems to beat Tesla. He is ready to “put every cent that Wanxiang earns into making electric vehicles.”
Kwid production version: Renault plans to bring the buggy-like Kwid into production. The compact concept car, which was presented as “Z.E. ready” at the Indian Auto Expo (we reported), is likely to be born electric.
Bentley ready for the future: The premium carmaker wants to create 140 new jobs in its facility in Crewe, UK, as it adds a line of new models. Furthermore, the British brand confirmed plans to offer 90% of all models as plug-in hybrids by the end of this decade.
U.S. launch delayed: The Mitsubishi Outlander PHEV will only become available in the States at the end of 2015 or beginning of 2016. The delay is caused by a new California regulation that requires hybrids to come with a battery monitoring system to alert the driver of possible degradation. The Japanese company is working on it.
A similar faith suffers the BMW i3 REX in the USA. Here, the range-extended EVs are sitting at the docks ready for delivery. However, before reaching their owners, the EPA will have to define the rated gas mileage which apparently is taking some time.
Mia Electric, Wanxiang, Fisker, Tesla, Kia, BMW, Nissan.
Mia Electric undergoes judicial reorganisation: In the coming six months, the French e-carmaker will be under the watchful eye of the insolvency courts. But Michele Boos, head of Mia Electric, is not ready to throw in the towel. She wants to continue pushing the all-electric car in France and hopes to produce some 200 vehicles per month in 2014.
transportevolved.com, lepoint.fr (in French)
Wanxiang Group wins Fisker-bid: The Chinese company won the bankruptcy auction to buy the remaining Fisker assets. Wanxiang has bid 149.2 million dollars, of which the company will pay 126.2 million in cash. The U.S. Bankruptcy Court is expected to approve the bid tomorrow.
Parked Tesla catches fire: A Model S burst into flames while parked in a garage in Toronto, Canada. The car was not being charged at the time. Moreover, the battery and charging infrastructure remained intact. Tesla says it is examining the incident.
Kia Provo premiers in North American: After it had been shown for the first time at Geneva last year, the hybrid concept car is now on display at the Canadian International Auto Show (CIAS). It features a gasoline-fuelled turbocharged engine assisted by an electric motor and was designed for “pure fun” and “is a game changer in the B-Segment,” so the carmaker.
BMW van on display in Geneva: It is time for the Bavarian carmaker to show the production version of its new compact van. Unveiled as a plug-in hybrid concept at Geneva 2012, it is highly likely that the plug-in drive will make it into production as well. The 2 Series Active Tourer will start with petrol and diesel engines when starting in September this year.
focus.de (in German)
The greenest of them all: According to Automotive Science Group, the Nissan Leaf has the lowest carbon footprint, taking into account i.e. materials, assembly, and end-of-life recovery. A complete study of 1,300 vehicles sold in North America will be released this spring.
Chinese rumor mill.
Wanxiang stock soared 20 percent in the last three days because rumours of a cooperation with Tesla were not denied quickly enough. Another reason might have been the outlook of Wanxiang taking over the remaining Fisker assets.