Briefly | 09 Aug 2023
EV News Daily - Technology and Business of EVs
Martyn Lee
4.8 • 749 Ratings
🗓️ 9 August 2023
⏱️ 4 minutes
🧾️ Download transcript
Summary
Lucid Motors' Q2 2023 financial results fell short of expectations with revenue at $150.9 million, missing the predicted $176.63 million. The net loss soared to $764 million, and the company confirmed the Gravity SUV unveiling in November 2023. Lucid's liquidity reached $6.25 billion, and vehicle deliveries were lower than expected. Strategic partnerships, price cuts, and expansion into the Chinese market are part of Lucid's future plans.
Tesla is building a new permanent tent at its Fremont factory, costing $750,000. The project could be part of Tesla's manufacturing expansion to meet increased demand. In Q2 2023, Tesla produced a record number of vehicles, and the new tent might be linked to the Model 3 Highland.
The new MG4 Extended Range Hatchback breaks the 300-mile barrier with 323 miles of WLTP range. Powered by a 77kWh battery, it offers 20% more range and charges 10-80% in just 39 minutes. With enhanced performance and design features, it's priced competitively at £36,495.
Volkswagen narrowly overtook Tesla in electric car sales in Germany in the first seven months of 2023. With 41,475 first registrations of fully electric cars, VW leads Tesla's 40,289. German manufacturers dominate the top positions, and overall EV sales continue to grow.
General Motors (GM) plans to equip all Ultium-based electric vehicles with vehicle-to-home (V2H) bidirectional charging capabilities by 2026. This technology will enable EVs to transfer energy to homes, turning them into backup generators. GM's vision revolves around the EV playing a pivotal role within a broader ecosystem, providing alternative energy sources and potential profits from energy sales back to the grid.
BMW unveils a unique version of the 5 Series Sedan and the all-electric i5, tailored for the Chinese market. With a longer wheelbase, gold accents, and specific charging technology, the China i5 is set to be produced at BMW Brilliance Automotive's Dadong plant in Shenyang. The launch is eagerly awaited in October.
The UK's used car market grew by 4.1% in Q2, with used battery electric vehicle (BEV) sales skyrocketing by 81.8% to 30,645 units. The growth in EV sales puts the focus on the importance of accessible charging infrastructure and affordable green energy to meet the growing demand.
Motiv announces the Argo, a new medium-duty electric truck with efficient motors and LFP batteries. Designed from the ground up, the Argo features a modern cab design and integrated power electronics. It's set to hit the road by late next year.
Hyundai Motor Group aims to expand its presence in India's EV market, with Hyundai introducing five EV models by 2032 and Kia producing small EVs from 2025. The group's sales in India were record-breaking last year, and they plan to significantly increase EV sales through local production.
E.On initiates a dynamic pricing pilot at public charging stations in Copenhagen, allowing EV drivers to charge at half the price during certain hours. The pricing model depends on factors like time of day and grid capacity, and it could lead to discounts of up to 50%.
The UK Infrastructure Bank and others invest almost £24m in Cornish Lithium, boosting the company's total initial investment to over £53m. The funding will help commercialize lithium production, essential for EV battery production in the UK's net-zero transition.
Norman R. Wright and Sons partner with New Zealand’s EV Maritime to develop all-electric ferries for Brisbane by the 2032 Olympic Games. The companies plan to convert Brisbane's City Cat fleet to fully electric, battery-powered ferries, offering a zero-emissions ride.
The McMurtry Speirling, an all-electric single-seater prototype, explores the possibility of a road-legal variant. With a 1,000-horsepower electric powertrain and unique fan system, the Speirling has proven its speed. The road-legal version faces regulatory challenges but remains a viable concept
Transcript
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| 0:00.0 | It's TV News briefly for Wednesday 9th of August. I'll be back later with the full podcast. |
| 0:04.3 | Patreon supporters get the episodes as soon as they're ready and add free. Be like them by clicking on a link in the show notes. |
| 0:10.7 | Lucid Motors, second quarter financials fell short of expectations with revenue at $151 million, missing the predictions by about $15 million. |
| 0:20.7 | The net loss soared, though, to |
| 0:22.8 | $764 million. They did confirm the Gravity SUV will be unveiled in November of this year |
| 0:30.2 | for production about a year later. Their liquidity reached $6.25 billion. They have the cash to get |
| 0:37.0 | through to 2025, but certainly |
| 0:39.4 | remember the old days of Tesla hemorrhaging money. Lucid are on a difficult path. Talking |
| 0:44.8 | Tesla, they're building a new permanent tent at their Fremont factory, costing almost a million |
| 0:49.2 | dollars, could be part of their manufacturing expansion to meet increased demand, or maybe |
| 0:52.9 | part of the expansion |
| 0:54.5 | to build the new Model 3 Highland in Fremont. We'll wait and see. Talking MG, the MG4 extended range. |
| 1:03.6 | Now, the MG4 is fantastic because it's had the standard version and the long range, but he promised, always promised an extended range, and now it's here. |
| 1:12.6 | 323 miles of WLTP range, 77 kilowatt hour battery gross. |
| 1:18.8 | That's 20% more range than the long range version. |
| 1:21.8 | And it charges in less than 40 minutes, costs 36,500 pounds. |
| 1:27.1 | Funny enough, same as the X power. See, what do you want? |
| 1:29.4 | The long range version or the hot version, the spicy one. Same price. Volkswagen overtook Tesla |
| 1:36.3 | in electric car sales in Germany in the first seven months of the year with 41.5,000 registrations of fully electric cars. Tesla, almost a thousand behind, |
| 1:47.5 | but it is neck and neck. General Motors talking about their ultium-based electric vehicles and how |
| 1:52.4 | they'll be equipped with vehicle to home, bidirectional charging. And I love that. We love to hear about |
| 1:57.2 | these things, but as is always the case with General Motors, they're talking 2026. Come on, just give us the stuff now. The Ultium technology seems fantastic. They're having |
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