Friday, October 15, 2021
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Tesla

Record quarterly profit announced by Tesla despite production challenges

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On Monday, Tesla released their financial results more than three weeks after reporting fantastic quarterly production numbers. For the first time in the EV maker’s history, quarterly GAAP net income exceeded $1 billion US.  With production ramping up and Tesla somehow avoiding the deepest throes of part shortages, total revenue grew by 98% year over […]
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Lucid Motors

Lucid Motors goes public, rings the NASDAQ opening bell July...

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Luxury EV carmaker Lucid Motors is trading publicly on the NASDAQ exchange after faltering with investors late last week. Voting has finally been wrapped up and Lucid Motors has been approved to merge with special purpose acquisition company Churchill Capital IV so it can hit the exchange. Led by highly influential businessman and Churchill Chairman […]
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EV

Fuel shortage on east coast spurs Americans to consider EVs

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After the Colonial Pipeline was the subject of a ransomware cyberattack by cybercriminal organization DarkSide. While the event was resolved with a multi-million-dollar payment from Colonial to its attackers via an untraceable cryptocurrency within a hours of the attack, the pipeline was restarted six days later once the pipeline could secure its data once again. The shutdown […]
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The EV ‘low cost of operation’ promise means service loyalty...

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On May 19, Ford unveiled the fully-electric F-150 Lightning pickup truck and amassed 45,000 reservations within two days. A few days later on May 24, a commercial variant was announced as the F-150 Lightning Pro. With slightly less interior content geared toward work truck buyers, it’s expected to be delivered next year.  A key selling point for the 2022 Ford […]
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Biden

President Biden visits Ford plant for F-150 EV reveal

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President Joe Biden continued to show his push towards electrification of the auto industry during a visit to Ford’s Rouge Electric Vehicle Center in Michigan on Tuesday. Biden’s visit was partially a showcase of his “American Jobs Plan,” which allocates $174 billion to investing in electric vehicles (EVs) as well as rebates to EV buyers, […]
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EV

Three major innovations and investments in electrification

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Almost daily, the news has major announcements that center around electrifying the worldwide fleet, pivoting away from fossil-fueled vehicles and toward more efficient and less pollutant EVs. In the past few days, there have been three developments that point to widespread adoption of mainstream EVs, whether that’s in the next couple of years or with […]
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EV

Rep. Andy Levin proposes plan for nationwide EV charging network

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A plan to build out a network of electric vehicle charging stations nationwide is being re-introduced as legislation by Rep. Andy Levin, D-Bloomfield Township. The proposal seeks to establish the network within five years of when the plan is completed. In the proposed bill, the Departments of Transportation and Energy would be directed to build […]
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Ford

Ford to produce its own battery cells by 2025

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Ford Motor Company is planning to sell enough electric vehicles by 2025 to produce its own battery cells. As the nation continues to shift toward electric vehicles, it will be interesting to see how many automakers make the shift to producing their own batteries as well. Ford Battery Production Timeline To cut the costs of […]
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credit

Are credit constraints a precursor to another financial bubble?

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If a recent MSNBC story and reports of what is happening at Barclay Bank are any guide, a blind hairpin turn could be ahead. Is the lending industry able to make the turn? No one will disagree that it’s been a challenging time to sell cars. From a slowdown in 2019 to the pandemic that […]
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Tesla

Tesla leads charge in 81% increase of electrified vehicle sales

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Although it might not be popular opinion yet, the auto industry is certainly moving in the direction of electrified vehicle adoption. Cox Automotive and Kelley Blue Book have found in an analysis of the auto industry in the US that growth in fully electric and hybrid electric models has grown 81% year over year. For […]
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