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Good morning! It’s Friday, March 1, 2024, and it’s morning shift, your every day roundup of the highest automotive headlines from all over the world, multi function place. Listed here are the essential tales that you must know.
First Gear: Analysis wanted to arrange firefighters for EV blazes
autos burst into flames on a regular basis and, no less than when gasoline fired fireplace, firefighters throughout America have grow to be fairly adept at placing them out and rescuing anybody trapped inside. Nonetheless, every part has been affected by the change to electrical automobiles New problem for America's fireplace division,
Based on A report from Automotive Information, lawmakers within the US have referred to as for extra analysis into the menace that EV fires pose to drivers throughout the US. This contains working to offer higher coaching and gear to fireside departments throughout the nation put together them to take care of such fires, Based on the location:
“Over a number of many years, we’ve got developed finest practices for extinguishing inside combustion engine fires as safely and rapidly as attainable. Now, we have to put that degree of consideration and help on analysis into electrical autos, and particularly the lithium-ion batteries that energy them,'' Rep. Zoe Lofgren, D-Calif., stated in a gap assertion.
Lofgren cited a 2020 report from the Nationwide Transportation Security Board that discovered U.S. fireplace departments have been inadequately outfitted to take care of EV battery fires. The report additionally discovered inadequacies within the steering car producers present to emergency personnel on how to answer fires.
“Within the years since that report was revealed, EV gross sales have grown from 300,000 in 2020 to 1.3 million in 2023,” he stated. “Nonetheless, the obtainable knowledge on EV fires has not elevated proportionately. “Fireplace departments throughout the nation – lots of that are staffed by volunteers – lack the assets to extinguish EV fires.”
Specialists gave this warning in the course of the listening to of American coverage makers on this matter. EV fires might grow to be extra widespread As the recognition of battery operated automobiles is growing. Because of this, a California fireplace chief referred to as for stronger laws to make sure automakers could make their EVs as protected as attainable.
Dan Munsey, fireplace chief of the San Bernardino County Fireplace Division in California, additionally referred to as for higher funding for fireplace departments throughout the US to allow them to Might be higher ready to combat fires Once they happen.
Second Gear: The Fixer is in Hassle
It's a tricky time to be an electrical car startup Manufacturers like Lucid and Rivian Manufacturing targets are being slashed left, proper and centre. Now, EV startup Fixer is dealing with troubles of its personal Rollout of its Ocean electrical SUV Was hit with points.
Electrical car makers at the moment are watching with horror its share value fellAnd it additionally warned that it “might not be capable to proceed,” in keeping with A report from Reuters, The location states:
Fisker stated it will minimize its workforce by about 15% and stated it was in talks with a bigger automaker for a possible funding and joint improvement partnership. It didn’t disclose the identify of the automaker or the monetary phrases of the potential deal.
The corporate is struggling to promote its flagship Ocean electrical SUV as a consequence of a slowdown in demand as a consequence of excessive rates of interest. Fisker stated current assets have been “inadequate” to cowl the subsequent 12 months. Along with talks with a big automaker, Fisker stated it’s in talks with a debt holder a few potential funding. Fisker stated it goals to ship 20,000 to 22,000 Ocean autos in 2024. With out further financing, the corporate stated it could possibly be compelled to scale back Ocean manufacturing, cut back investments, cut back operations and additional minimize jobs.
Based on Reuters, firm CEO Henrik Fisker stated that 2023 was a “difficult 12 months” for the model. Throughout the 12-month interval, the automaker confronted manufacturing delays, provide points, and blended critiques. Launch of its Ocean electrical SUV, Because of this, the corporate constructed lower than 1 / 4 of the greater than 40,000 autos it had deliberate, and delivered lower than 5,000 of the finished automobiles.
To attempt to enhance deliveries, the automaker has signed up with 13 sellers throughout the US within the hopes that having a community of bricks-and-mortar retailers throughout the nation will assist it. begin transferring automobiles In actual numbers.
Third Gear: Lordstown nonetheless in bother
Whereas Fisker is moving into the powerful spot for the primary time, one automaker that has been doing it constantly affected by adversity With its mission to launch Lordstown Motors electrical pickup truck, Now, the struggling startup finds itself out of the frying pan and into the hearth as it’s hit with a $26 million invoice following an investigation by the Securities and Change Fee (SEC).
Based on A report from BloombergLordstown Motors has been ordered to pay $25.5 million to settle an SEC investigation into allegations that it “exaggerated” demand That is the Endurance Pickup Truck, As Bloomberg stories:
Based on the SEC, the automaker made deceptive statements about its pre-orders for the truck, referred to as the Endurance, and misrepresented how rapidly it may ship the vehicles. The corporate rose to prominence after former US President Donald Trump praised it for saving auto-maker jobs.
“Within the extremely aggressive race to ship the primary mass-produced electrical pickup truck to the U.S. market, Lordstown oversold precise demand for the Endurance,” Mark Cave, an affiliate director of enforcement on the SEC, stated in a press release.
Paying the hefty advantageous can be an enormous ask for the doomed automaker, which really filed for chapter in June 2023 and bought its property to firm founder Steve Burns later that 12 months. So as a substitute of forfeiting the money, the SEC says the advantageous “will probably be thought of glad.” as soon as lordstown is over It was agreed to settle it by paying two class-action lawsuits.
They lawsuits associated to allegations The corporate “made misrepresentations or didn’t disclose materials info” between August 2020 and March 2021.
Fourth Gear: VW and XPeng are engaged on an SUV
The ultimate piece of electrical car information for at present comes from German automaker VW, which has partnered Chinese language automaker XPeng To collectively develop a brand new all-electric SUV. Tie-up between VW and Chinese language firm The announcement was made final 12 months, when the German automaker outlined its ambitions to introduce extra inexpensive fashions in China.
Now, Reuters is reporting The primary of that extra budget-friendly providing could possibly be a battery-powered SUV created in collaboration with VW and XPeng. As Reuters explains:
Below a “grasp settlement” for platform and software program collaboration, the automakers stated in a press release that they are going to set up a joint sourcing for platforms and car elements utilized by each companions, benefiting from scale to scale back prices. Will begin this system.
The announcement marks a step ahead within the partnership shaped in July when Volkswagen stated it will purchase 4.99% of Xpeng for about $700 million with plans to collectively launch two EV fashions by 2026. The acquisition was accomplished in December.
Based on Reuters, any car produced as a component Partnership between the 2 corporations All will probably be badged as VW automobiles. The automobiles will probably be based mostly on the older EV platform that underpins VW's launch of a brand new, cheaper EV platform based mostly on its MEB platform. Fashions like ID.3 And even the ID.Buzz electrical van.