💰Canoo secures up to $113 million…

💰Canoo secures up to $113 million…

Get up to speed on the latest EV/AV news and trends in 5 minutes or less with Mobility EVo.  In today’s edition, we have the all-new limited edition Ronin by Fisker, Cruise, and Waymo receive a permit approval, economic incentives for Canoo, Rivian’s R1T spotted in Korea, confirmation of a business combination between Vinfast and global investment company Black Spade Acquisition Co., and so much more.

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Top 10 EV/AV News Stories

  1. Fisker to release a limited model of only 999 vehicles called the Ronin, it is a Super GT convertible listed at $385,000 and will have a range of 600 miles. 
  2. California Public Utilities Company has approved the last remaining permits for Cruise and Waymo, giving the two companies the green light to offer commercial robotaxi services across San Francisco 24 hours a day, seven days a week.
  3. Canoo has secured agreements with the state of Oklahoma and the Cherokee Nation for economic incentives totaling up to $113 million over 10 years to support its vehicle assembly and battery module manufacturing plants in Oklahoma City and Pryor.  The agreements involve job creation and investment targets and aim to enable Canoo to hire over 1,300 workers and fulfill the vision of state and tribal leaders, with the company investing over $320 million in its facilities and already progressing in equipment installation and workforce recruitment.
  4. Production of the 2023 Chevy Bolt EV and Bolt EUV has been extended from November to December 2023, marking a 17-month production run for the 2023 models. GM aims to produce 70,000 units in 2023.
  5. Automobili Pininfarina is set to showcase its model range and future prospects at Monterey Car Week, featuring three vehicles including the world premiere of a new collectible masterpiece named B95 inspired by the recently revealed PURA Vision design concept, with further details, images, and films to be released on August 17th; the event will also feature the North American debut of the Battista Edizione Nino Farina, a tribute to racing legend Nino Farina, and the presentation of the PURA Vision design concept that embodies Automobili Pininfarina's future electric luxury vehicle vision.
  6. An R1T all-electric pickup by Rivian was spotted with test vehicle license plates in Korea near Hyundai's research and development center in Namyang, leading to speculation that Hyundai might be benchmarking it against its upcoming all-electric vehicles, including pickup trucks.
  7. Using electric cars with bi-directional charging capabilities to send excess power back to the grid is proposed as a solution to California's power grid expansion and blackout prevention, with ongoing global vehicle-to-grid projects and San Diego's school bus pilot program, while compensation plans and legislative efforts in Sacramento are underway to enable this implementation.
  8. Tesla has lowered the prices of its Model Y Long Range and Performance configurations in China by 4.5% and 3.8% respectively, while offering 8,000 yuan ($1,101) subsidies on Model 3 vehicles until September 30, aiming to stimulate demand.
  9.  A global deal was entered with BYD and Stingray, incorporating Stingray's Karaoke app as an embedded feature in their popular car models across multiple countries, providing an interactive entertainment experience for drivers and passengers, allowing access to Stingray's song catalog with safety measures for driving, as well as a Passenger App for controlling the karaoke experience from mobile devices, aiming to enhance the driving experience and expand brand exposure.
  10. The business combination between Vietnamese electric car manufacturer VinFast and global investment company Black Spade Acquisition Co. is expected to be confirmed, with VinFast remaining as the combined company and its ordinary shares and warrants set to trade on Nasdaq under the ticker symbols "VFS" and "VFSWW,".

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