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GM’s Autonomous Driving Unit Cruise to Tap $5 Billion Credit Line to Mass Produce the Origin Autonomous Shuttle

GM’s Autonomous Driving Unit Cruise to Tap $5 Billion Credit Line to Mass Produce the Origin Autonomous Shuttle

Cruise, the autonomous driving unit of automaker General Motors, plans to access a $5 billion line of credit to finance the purchase of tens of thousands of Cruise Origin shuttles, a commercial autonomous ride-hailing vehicle being built by GM, Honda Motor Co and Cruise. The funds will be made available through GM’s automotive financing arm GM Financial.

Eric Walz2021-06-15 09:00 PT

CEO, CFO of Electric Truck Startup Lordstown Motors Abruptly Resign

CEO, CFO of Electric Truck Startup Lordstown Motors Abruptly Resign

Electric truck startup Lordstown Motors on Monday announced the sudden departure of Chief Executive and founder Steve Burns and Chief Financial Officer Julio Rodriguez. The departure of Burns comes just days after the electric truck maker warned that it may not have enough money to stay in business over the next year, sending shares down more than 20% in early trading to $9.12.

Eric Walz2021-06-14 08:15 PT

Ford Passes 100,000 Reservations for 2022 F-150 Lightning

Ford Passes 100,000 Reservations for 2022 F-150 Lightning

Clearly, consumers are impressed with Ford’s first all-electric pickup truck.

Vineeth Joel Patel2021-06-13 06:30 PT

Tesla Model S Plaid Boasts 390 Miles of Range, $131,190 Price Tag

Tesla Model S Plaid Boasts 390 Miles of Range, $131,190 Price Tag

Deliveries of Tesla’s high-performance luxury sedan have commenced, with the Plaid trim claiming to be the automaker’s quickest and most powerful production car yet.

Vineeth Joel Patel2021-06-12 07:30 PT

Sweden-based EV Battery Startup Northvolt, Founded by Former Tesla Execs, Raises $2.75 Billion in New Equity

Sweden-based EV Battery Startup Northvolt, Founded by Former Tesla Execs, Raises $2.75 Billion in New Equity

Northvolt, a EV battery manufacturer founded by two former Tesla employees, announced the signing of a $2.75 billion private placement to finance further battery cell production capacity and R&D efforts to meet the increasing demand for EV batteries from customers, including automakers Volkswagen and BMW.

Eric Walz2021-06-11 09:45 PT

Volvo to Offer Preferred Charging Rates For its Electric Vehicle Customers in Europe Starting July 1

Volvo to Offer Preferred Charging Rates For its Electric Vehicle Customers in Europe Starting July 1

Drivers of Volvo’s new fully-electric Recharge family of vehicles in Europe, including the XC40 and C40, are getting a great deal on charging beginning July 1 from Volvo’s charging partner Plugsurfing, which is Europe’s largest EV charging platform.

FutureCar Staff 2021-06-10 14:15 PT

OneD Battery Sciences Announces Breakthrough Silicon EV Battery Technology called ‘SINANODE’

OneD Battery Sciences Announces Breakthrough Silicon EV Battery Technology called ‘SINANODE’

Palo Alto, Calif-based battery developer OneD Sciences announced today a breakthrough battery technology its calls SINANODE, which has the potential to greatly increase the energy density of electric vehicle batteries. The technology adds energy-dense silicon nanowires onto a battery's positively charged graphite anodes during the manufacturing process.

Eric Walz2021-06-10 11:40 PT

Apple in Talks to Build an EV Battery Factory in the U.S. with Chinese Battery Makers, Reports Say

Apple in Talks to Build an EV Battery Factory in the U.S. with Chinese Battery Makers, Reports Say

Reuters reports that computer giant Apple Inc is in early-stage talks with Chinese EV battery manufacturers Contemporary Amperex Technology Limited (CATL) and BYD to build a battery factory in the U.S. that could supply batteries for the secretive Apple Car project dubbed “Project Titan.”

Eric Walz2021-06-08 15:45 PT

BMW Releases Pricing, Specs for 2022 i4 and iX EVs

BMW Releases Pricing, Specs for 2022 i4 and iX EVs

BMW’s finally ready to provide some specifications and figures for the U.S.-bound versions of the i4 sedan and iX SUV. Pricing for the i4 will start at $56,395, while the iX will cost $84,195.

Vineeth Joel Patel2021-06-07 07:30 PT

Hyundai Becomes Latest Automaker to Stop Developing New Internal Combustion Powertrains

Hyundai Becomes Latest Automaker to Stop Developing New Internal Combustion Powertrains

To free up some resources to invest in electric vehicles, Hyundai will cut the number of models in its lineup that are powered by fossil fuels by 50 percent.

Vineeth Joel Patel2021-06-06 07:00 PT

Ford Mustang Mach-E Production Outpaces Regular Mustang

Ford Mustang Mach-E Production Outpaces Regular Mustang

Ford’s all-electric Mustang Mach-E is proving to be a more popular choice than the regular Mustang with its internal combustion engine.

Vineeth Joel Patel2021-06-05 07:30 PT

Tesla’s Battery Supplier CATL Plans to Build a Major EV Battery Factory in China

Tesla’s Battery Supplier CATL Plans to Build a Major EV Battery Factory in China

Chinese battery manufacturer Contemporary Amperex Technology Limited (CATL) is planning to build a major new electric vehicle battery plant in Shanghai, as the company looks to become the world's biggest supplier of EV batteries. The company also aims to expand its partnership with Tesla and become its biggest battery supplier.

Eric Walz2021-06-03 10:45 PT

Tesla Challenger XPeng Inc. Reports a 483% Surge in Year-Over-Year May Deliveries

Tesla Challenger XPeng Inc. Reports a 483% Surge in Year-Over-Year May Deliveries

​Xpeng Inc., one of Tesla’s biggest competitors in China, continues to report growing EV sales. The company announced its vehicle delivery results for May 2021, which included sales of 5,686 electric vehicles. The total represents a 483% increase in year-on-year sales for the month of May.

Eric Walz2021-06-01 14:30 PT

Tesla Model 3, Model Y Downgraded in Consumer Reports and IIHS’ Safety Testing

Tesla Model 3, Model Y Downgraded in Consumer Reports and IIHS’ Safety Testing

With Tesla cutting features as it moves to a camera-only safety system, a few organizations have decided to take awards away from the brand’s two most affordable models.

Vineeth Joel Patel2021-05-31 07:25 PT

Deliveries of Rivian R1T Truck Delayed to July

Deliveries of Rivian R1T Truck Delayed to July

According to a statement made by Rivian, deliveries of the R1T Launch Edition will begin in July 2021, one month behind the original date.

Vineeth Joel Patel2021-05-30 07:00 PT

Ford Expanding Electric Lineup With Explorer, Possibly Bronco

Ford Expanding Electric Lineup With Explorer, Possibly Bronco

Ford is making another massive investment into electric vehicles, which means a few more high-profile electric cars are in the works.

Vineeth Joel Patel2021-05-29 07:45 PT

U.S. Listed New Energy Vehicle Startup Li Auto Refreshes its Li ONE SUV, Expects Monthly Sales of 10,000 Vehicles by Sept

U.S. Listed New Energy Vehicle Startup Li Auto Refreshes its Li ONE SUV, Expects Monthly Sales of 10,000 Vehicles by Sept

Chinese New Energy Vehicle (NEV) startup Li Auto unveiled the refreshed Li One SUV with improvements in the powertrain, driving assistance system, intelligent cockpit, and user experience. With its redesigned Li ONE, the automaker expects monthly deliveries to reach 10,000 units by September, according to Shen Yanan, President & Co-founder of Li Auto.

Eric Walz2021-05-28 12:55 PT

Volvo’s Electric-Performance Brand Polestar Launches Mobile Service Program for the U.S.

Volvo’s Electric-Performance Brand Polestar Launches Mobile Service Program for the U.S.

​Electric-performance brand Polestar Cars, a dedicated EV brand jointly owned by automakers Volvo and its parent company Chinese automaker Zhejiang Geely Holding (Geely), has announced a new mobile service plan. Under the program, a Polestar technician will visit a customer’s location to perform a variety of services, including software updates and minor repairs.

Eric Walz2021-05-28 08:00 PT

Ford is Boosting its EV Investments to More Than $30 Billion, Stock Reaches 5-Year High

Ford is Boosting its EV Investments to More Than $30 Billion, Stock Reaches 5-Year High

U.S. automaker Ford is boosting investments in electrification as it looks to take on Tesla, Volkswagen and General Motors and others in the electric vehicle space. The increased investments in EVs is part of a plan called "Ford+" in which Ford would be more like a technology company rather than an automaker in the eyes of investors.

FutureCar Staff 2021-05-26 13:35 PT

Lucid Motors Reveals the Elegant ‘Lucid User Experience’ for the Upcoming Air Sedan

Lucid Motors Reveals the Elegant ‘Lucid User Experience’ for the Upcoming Air Sedan

​Luxury-performance electric vehicle startup and Tesla challenger Lucid Motors unveiled its technology-packed Lucid User Experience (Lucid UX) on Wednesday which will be the foundation on how drivers and passengers interact with the controls and features in the electric Lucid Air sedan, the company’s first vehicle.

Eric Walz2021-05-26 10:05 PT

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