💲Tesla Cuts $10,000…
Mobility EVo: The fast and easy way to stay on top of the EV/AV industry in 5 minutes or less. Today, we cover Tesla’s new Universal Wall Connector, Rivian’s R1S that conquered the Rubicon Trail, Tesla’s more affordable Model S and Model X vehicles, Canoo’s Q2 2023 financial results, VinFast’s debut on Nasdaq, Ford CEO Jim Farley’s road trip experience in an F-150 Lightning and so much more. Subscribe to our newsletter today and stay informed on everything EV-related.
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Top 10 News Stories
- Tesla rolls out a Universal Wall Connector offering fast charging rates of 44 mi per hour at 11.5 kW/48 amp output.
- Rivian's test and development team successfully completed the challenging Rubicon Trail in a stock Quad-Motor R1S, making it the first production EV to accomplish this feat, with the journey taking place over three days and showcasing the vehicle's capability on the trail.
- Tesla has introduced more affordable versions of its Model S and Model X vehicles in the U.S., priced $10,000 lower than the regular models, with the Model X Standard Range starting at $88,490 and the Model S Standard Range at $78,490.
- Canoo announced its Q2 2023 financial results, including the introduction of the LDV 190, facility progress, a Fortune 100 customer agreement, advancement in contracts with the Department of Defense, and vehicle delivery to NASA; the company reported a GAAP net loss of $70.9 million for Q2 2023 and provided a business outlook for the second half of 2023, with projected adjusted EBITDA of $(120) million to $(140) million and capital expenditures of $70 million to $100 million.
- Following its U.S. trading debut on Nasdaq through a merger with a special purpose acquisition company (SPAC), VinFast's shares surged, increasing its total market value to $85 billion, surpassing renowned automakers like Ford, GM, BMW, and Volkswagen.
- Investing $60 million in Mitra Chem, a Silicon Valley startup, General Motors aims to accelerate the development of more affordable battery chemistry, utilizing artificial intelligence and focusing on iron-based cathode active materials like lithium manganese iron phosphate (LMFP) for its future electric vehicles.
- While embarking on an EV road trip in an F-150 Lightning pickup along Route 66, Ford CEO, Jim Farley, faced challenges with charging the vehicle and acknowledged the need to improve the customer experience, expressing that the issues he encountered with public chargers are a "really good reality check".
- The American Lung Association's report highlights the potential health benefits of transitioning to 100% zero-emission new passenger vehicles and clean electricity generation by 2050, including reducing air pollution-related premature deaths by around 89,300 and providing $978 billion in public health benefits, with asthma attacks, lost workdays, heart attacks, strokes, and lung cancer being consequences of air pollution caused by combusting fossil fuels.
- Drivers in Tennessee spend an average of $274 annually on gas taxes, contributing to around $1.2 billion in funding for Tennessee Department of Transportation projects; however, the rise of electric vehicles has led to a decline in gas tax revenue, prompting the implementation of the Tennessee Transportation Modernization Act, enabling the gradual increase in registration costs for electric vehicles to compensate for the revenue loss.
- Argonne's Autonomous Vehicle Camp offers high school students a week-long program to build self-driving machines, emphasizing coding, engineering, and teamwork skills, serving as a precursor to the annual Autonomous Vehicle Competition that challenges teams to construct self-driving vehicles over six months.
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