Tesla entering a new market, India
Tesla CEO Elon Musk expressed his intention to invest in India after a meeting with Indian Prime Minister Narendra Modi in New York City. During their encounter, they engaged in a cordial handshake, symbolizing the potential collaboration between their respective entities. Musk conveyed his confidence in Tesla's future presence in India, emphasizing the urgency with which the company aims to establish itself in the country. This development comes as a follow-up to a statement made by the CEO in 2017, where he had outlined Tesla's intention to commence car sales in India during the upcoming summer. However, due to Tesla's ongoing efforts to negotiate more favorable import duties with local government authorities, the implementation of this plan has encountered delays. Source
BMW plans on €652 million EV battery factory, South Carolina USA
BMW Group's newest manufacturing facility, Plant Woodruff, will play a crucial role in producing cutting-edge high-voltage batteries exclusively for fully electric BMW X models, operating alongside Plant Spartanburg. A substantial investment of $700 million has been allocated towards the construction of the state-of-the-art Plant Woodruff, with an additional $1 billion being injected into Plant Spartanburg to facilitate the forthcoming electric vehicle production. Robert Engelhorn, the esteemed President and CEO of BMW Manufacturing in Spartanburg, affirms that this significant initiative marks the commencement of an exciting journey towards the future in South Carolina. He proudly highlights Plant Woodruff's advanced attributes, encompassing sustainability, adaptability, and digitalization. Source
Bentley launching 5 electric vehicles in 2025
Bentley has unveiled its ambitious plan to introduce an impressive lineup of 5 electric models within a span of five years, commencing from 2025. The initial offering is expected to be a luxurious high-riding saloon. This announcement serves as an accelerated implementation of Bentley's Beyond100 strategy, which was unveiled in 2020 and aims to transform the brand into a carbon-neutral electric-only entity by 2030. To ensure a seamless transition, the first 3 electric models will share common battery technology, while subsequent vehicles will incorporate the latest advancements in the field. The company's confirmed that the inaugural model will boast an impressive range of over 300 miles, providing customers with ample driving freedom and confidence. Source
Electrify America adding Tesla charging
Electrify America, a prominent charging network operator, made a noteworthy announcement on Thursday, revealing its plans to integrate Tesla connectors into its extensive charging infrastructure across the United States and Canada. In a press release, the company emphasized that it remains committed to offering Combined Charging Standard (CCS) connectors while simultaneously introducing the Tesla connector, known as the North American Charging Standard (NACS), as an additional choice at both existing and upcoming charging stations by 2025. Robert Barrosa, CEO of Electrify America, underscored the organization's core objective of establishing an all-encompassing and accessible hyper-fast charging network to facilitate the widespread adoption of electric vehicles. Source
Lordstown files bankrupted
Lordstown Motors Corporation, the american producer of the electric pick-ups truck, is currently facing a significant setback. The company recently sought bankruptcy protection and put itself up for sale. This development transpired after Lordstown revealed that its partner from Taiwan, Foxconn, expressed intentions to withdraw from the crucial funding agreement. Lordstown Motors now aims to find a suitable buyer for its Endurance electric truck and associated assets. In 2022, Foxconn, a contract manufacturer based in Taiwan, acquired Lordstown's factory for a reported sum of $230 million. Subsequently, in a separate agreement, Foxconn agreed to invest up to $170 million in Lordstown, granting them a calculated 19.3% ownership stake in the American firm, as assessed by CNBC. Source