BorgWarner, a large automotive supplier focused on powertrain components, is expanding into battery packs through a new investment in Romeo Power, a battery pack startup founded by former Tesla and SpaceX engineers. The companies have created a new joint venture to sell full electric powertrains. expand full story
After years of trouble trying to bring its first electric vehicle to market, Faraday Future (FF) is still surviving as it announces a new $225 million bridge loan, but a bridge to where? expand full story
Sono Motors, a German EV startup, announced today that it will build the crowdfunded solar-powered Sion EV at a manufacturing facility formerly owned by SAAB in Trollhättan, Sweden. The plant is owned by National Electric Vehicle Sweden (NEVS), a holding company which acquired most of SAAB’s assets after its bankruptcy.
Sono has contracted NEVS to produce 260,000 vehicles in an eight-year period, beginning in the second half of 2020, and plans to use 100% renewable energy to power its factory. The car will launch at a cost of 25,500 Euros (~$28,900).
Electric vehicle startup EVelozcity, which was founded by former Faraday Future employees, has relaunched as Canoo. The company says it will introduce four EV models in the next three years, and its vehicles will be sold through a subscription model.
November 20, 2017
After seeing the new Roadster in the flesh at Thursday’s Tesla Semi unveiling, I’ve had a lot to think about. Fred and Seth already both covered this car, but it’s so groundbreaking that I felt I needed to chime in.
And as a current Roadster 1.5 owner, which had been my dream car ever since seeing the first introductory website put up by Tesla way back in 2006, I’m writing this article as a sort of catharsis, a reliving of that night that I first saw the car I sorely wished could be mine but thought at the time I’d never have the opportunity to own.
Supercar maker Koenigsegg announced that it is taking a $170 million investment from NEVS, SAAB’s all-electric successor, and the company says that they will use the money to ramp up their electrification effort. expand full story
China’s Evergrande Group, best known in the EV community for having taken a large stake in Faraday Future, is now taking a majority stake in NEVS, SAAB’s all-electric successor. expand full story
Faraday Future, once seen as the main EV startup, had a tough 2018, but it announced that it closed out the year by settling its dispute with its main investor.
Though it doesn’t mean that it’s out of the woods just yet. expand full story
December 11, 2018
Electric scooter sharing may feel like a fairly new fad, especially if your city was only recently invaded by the convenient little EVs. But believe it or not, it’s been over a year since Santa Monica-based Bird first launched its rentable electric scooters in the US and started the e-scooter craze. While Bird might have seemed original at the time, there have since been over a dozen other companies that have attempted to join the nascent electric scooter sharing industry.
By all accounts, none of these companies are anywhere near profitability. Many experts claim the businesses aren’t even sustainable. So what will happen to these electric scooters and the companies renting them out in the next few years? Here are four possible scenarios.
December 5, 2018
Following a significant fallout with its main investors, Faraday Future is running out of cash and it is on the brink of bankruptcy.
The startup now says that it can’t pay employees and it is putting more of them on furlough. expand full story