Archive for the ‘EVs’ Category

Tesla Takes Another Slap as Consumer Reports Faults Latest Autopilot Update

Latest update called “far less competent than a human driver.”

by on May.22, 2019

Consumer Reports criticized the performance of Tesla's latest version of Autopilot.

It has been a tough few weeks for Tesla, the California electric carmaker watching its stock plummet in the wake of a sales slowdown, mounting losses and a report from the National Transportation Safety Board blaming the company’s Autopilot system for a fatal crash last March. Now, Consumer Reports is adding to Tesla’s grief.

CEO Elon Musk has spotlighted Autopilot as one of Tesla’s crown jewels, boasting about its increasingly hands-free capabilities, the latest being the ability to change lanes automatically. But the non-profit publication isn’t convinced, warning in a news release that “the latest version … is far less competent than a human driver.”

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“The system’s role should be to help the driver, but the way this technology is deployed it’s the other way around,” said Jake Fisher, Consumer Reports’ senior director of auto testing. “It’s incredibly nearsighted. It doesn’t appear to react to brake lights or turn signals, it can’t anticipate what other drivers will do, and as a result, you constantly have to be one step ahead of it.” (more…)

Could Tesla’s High-Flying Ride on Wall Street be Ready to Come Crashing Down?

Shares head towards $200 for first time since 2016, as key analyst warns $10 is possible.

by on May.21, 2019

Tesla CEO Elon Musk has plenty to worry about as investors turn bearish on its stock.

After sliding to its lowest level since December 2016 on five days of losses, Tesla stock fell to its lowest level in nearly 30 months, at just above $200 — and one key analyst, Morgan Stanley’s Adam Jonas, warns Tesla could see the stock plunge to just $10 a share.

Not much has gone right for the California automotive upstart in recent months, starting with word that first-quarter sales had fallen well short of expectations. Its unexpectedly deep, $702 million loss for the quarter didn’t help. And the situation only grew worse when CEO Elon Musk last week ordered a “hardcore” belt-tightening covering “literally every payment that leaves our bank account.” Then, the National Transportation Safety Board weighed in, blaming a fatal March 2018 crash on Tesla’s much-ballyhooed Autopilot system.

Breaking News!

Even where the automaker appeared to pull off a coup, topping substantially what it had expected to raise with last month’s combination of stock and debt offerings, Musk told employees in an e-mail, that the $2.7 billion Tesla brought in “actually only gives us about 10 months at the Q1 burn rate to achieve breakeven!”

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General Motors Debuts New Digital Brain for Future Vehicles

New architecture allows for future connected car tech.

by on May.21, 2019

GM's new digital vehicle platform can process 4.5 terabytes per hour and will debut on the 2020 Cadillac CT5 sedan.

General Motors is pushing to remain a leader in autonomous technology with new vehicles and mobility services; however, it’s latest development may be the most critical to ensure it remains at the front of the pack.

The company unveiled its new all-new digital platform architecture, designed with the needs of future, such as connected cars, autonomous electric vehicles and other technologies, in mind. Until now, GM has been loading up its previous gen architecture with new tech, despite the fact it is more than 20 years old and comes with limitations.

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The new architecture, which will underpin the 2020 Cadillac CT5 sedan and its Super Cruise semi-autonomous driving feature, should be available across nearly all GM product lines by 2023, the company says. (more…)

Tesla Stock Getting Hammered as NTSB Investigates, Investors Fret

Musk tells employees that cash burn rate is high.

by on May.20, 2019

Tesla's Elon Musk has ordered employees to rein in spending on virtually everything.

Just a few days after safety regulators revealed that Tesla’s Autopilot system was engaged during a fatal crash of a Model 3, Tesla’s stock has fallen 11% – including nearly 4% today – to the low $200 range.

Adding to the concerns of stock and bond investors in the California-based EV maker, CEO Elon Musk revealed the company’s first-quarter cash burn rate has put it in a precarious position.

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He told employees last Thursday he would increase cost-cutting and that $2.7 billion in capital the company recent raised would give Tesla just 10 months to break even at the rate it burned cash in the first quarter. (more…)

Another Automaker Abandons the V-8

Genesis will drop Tau V-8 when new G80 debuts this autumn.

by on May.20, 2019

The next version of the Genesis G80 will come to market without its familiar Tau V-8.

Way back in the late 1970s, when twin oil shocks and the then-new Corporate Average Fuel Economy mandate forced automakers to start focusing on energy efficiency, conventional wisdom had it that the V-8 would soon vanish. It didn’t quite work out that way and the engine of choice for many performance and heavy-duty vehicles has remained surprisingly robust.

But as global emissions and mileage regulations continue to tighten, the V-8 appears, once again, to be an endangered species, and the Hyundai Motor Group is the latest getting ready to throw in the towel.

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The Korean carmaker’s luxury brand Genesis plans to abandon its 5.0-liter Tau V-8 when it rolls out new versions of its two biggest sedans, according to the marque’s CEO. That phase-out will begin later this year with the launch of a new version of the G80.

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“Hardcore” Belt-Tightening a Must, Says Tesla’s Musk

The “only way for Tesla to become financially sustainable.”

by on May.17, 2019

Tesla's Elon Musk has ordered employees to rein in spending on virtually everything.

Tesla will need to engage in some “hardcore” cost-cutting, CEO Elon Musk told employees in an e-mail late Thursday, a move that comes in the wake of an unexpectedly severe first-quarter loss.

The automaker earlier this month was able to raise $2.7 billion through a combination of stock and debt offerings, but investors have become increasingly wary of the challenges that face the automaker – Tesla facing substantial debt repayments on top of the costs involved in the development of an array of new products and a new plant in China.

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The latest cash infusion, according to Musk, will only let it go for another 10 months without getting back into the black, he wrote, which “is why, going forward, all expenses of any kind anywhere in the world, including parts, salary, travel expenses, rent, literally every payment that leaves out bank account must (be) reviewed.”

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Senators Look to Rally U.S. EV Material Production

Committee looking to expedite mining process for needed materials.

by on May.17, 2019

Tesla's Gigafactory is basically a one-stop shop for EV production. A Senate committee is looking to make it easier for EV makers to get the materials needed in the U.S.

While the Trump administration – through the Environmental Protection Agency – continues to press for changes in fuel economy regulations that would to sideline efforts to put more EVs on the road across the United States, the U.S. Congress is getting nervous about China’s fast moving electric-car effort.

Both Republicans and Democrats in the U.S. Senate are voicing support for a national electric car supply chain policy in the United States Senate, according to a report from Reuters.

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The Senate’s Energy and Natural Resources Committee recently held a hearing on the American Mineral Security Act. The legislation aims to make it easier and quicker for U.S. mines to meet regulations and gain permits for lithium, graphite and other minerals or precious materials needed for electric car production. It would also require a tally of metal reserves in the country. (more…)

Tesla Updating Software After Latest Battery Fire

Two recent incidents raise new concerns about EV safety.

by on May.16, 2019

A security camera caught images of a Tesla spontaneously catching fire in a Hong Kong garage.

Responding to the latest in a series of fires involving its electric vehicles’ battery packs, Tesla will updated its digital control software.

The move comes in the wake of a pair of fires in China, a critical market for the manufacturer, both involving parked vehicles. Since the original Tesla Model S was introduced, the company’s products have been involved in more than a dozen vehicle fires.

Electrifying News!

“As we continue our investigation of the root cause, out of an abundance of caution, we are revising charge and thermal management settings on Model S and Model X vehicles via an over-the-air software update that will begin rolling out today, to help further protect the battery and improve battery longevity.” Tesla said in a statement released on Wednesday.

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Hyundai/Kia Partnering up with Croatia EV Supercar Maker Rimac

Croatian company positions itself as a major supplier of electrification technology and components.

by on May.14, 2019

Rimac founder and CEO Mate Rimac celebrates with Hyundai's Euisun Chung their new alliance.

Alliances and joint ventures are becoming as much the norm as the exception in today’s auto industry, but Hyundai Motor Group just entered a particularly strange-bedfellow sort of relationship, investing nearly $90 million in Rimac, the Croatian manufacturer of battery-electric supercars.

The Korean parent of the Hyundai and Kia brands will not only invest 80 million euros in Rimac Automobili but also establish a technology partnership that will put some high-performance electric vehicles in their future line-ups, as well.

Breaking News!

“Rimac is an innovative company with outstanding capabilities in high-performance electric vehicles,” said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. “Its startup roots and abundant experience collaborating with automakers combined with technological prowess makes Rimac the ideal partner for us. We look forward to collaborating with Rimac on our road to Clean Mobility.”

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Elonroad Takes EV Charging Where it Hasn’t Gone Before

Swedish developed system designed to be efficient and safe.

by on May.13, 2019

Why is this man smiling? Tesla CEO Elon Musk has a revolutionary new charging system named after him and he didn't even have to invent it.

The rocketing growth of new electric vehicles produced by automakers has producers of EV charging stations hustling to keep up; however, a new innovation may circumvent the need for the onslaught of stations.

The Swedish city of Lund is conducting a trial of a roadway that charges electric vehicles as they roll down the “tarmac.” Named “Elonroad,” after Tesla co-founder and CEO Elon Musk, the plans call for a 1 kilometer stretch of road to be a test bed for the new technology.

Electrifying News!

The purpose is to contribute to increasing knowledge about electricity routes as part of the future fossil-free transport system, says Elvag Syd, the company working with the Swedish Transport Administration, on the project. It´s the first electric road with ground level ing system tested for buses in a city. The project is a test and demonstration project from 2019-2022. (more…)

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