EVs – Page 2 – GreatOldTrucks.com

Ford Mustang Mach-E Captures Green Car of the Year Honor

The new Mustang Mach-E is set to arrive in showrooms before the end of this year. It’s the 2021 Green Car of the Year.

Ford’s much-anticipated Mustang Mach-E hasn’t hit dealerships yet, but it’s already winning awards, named the 2021 Green Car of the Year.

The EV, which is expected to arrive later this year, won the honor as part of the Green Car Awards sponsored by the Green Car Journal, a long-time publication that covers the EVs, hybrids and other zero-emission vehicles.

“The Mustang Mach-E crossover is a breakthrough electric model for Ford, building on the tradition of one of the world’s most recognizable sports car nameplates as it powers its way to the future,” said Ron Cogan, editor and publisher of Green Car Journal and GreenCarJournal.com.

(Ford cutting price of Mustang Mach-E by $3,000.)

The Pro Power Onboard output system’s ability to be used as a workplace generator, pushed the Ford F-150 to the Green Truck of the Year award.

“Green Car Awards wins by Polestar, Toyota, Mini, Jeep, and Ford further underscore the depth of commitment these automakers have to offering more efficient internal combustion and electrified vehicles, and illustrate the amazing choices now available to new car buyers.”

Ford actually won a second award, with the F-150 being named the 2021 Green Truck of the Year. The publication, which has handed out the awards for nearly two decades, lauded the truck for offering the PowerBoost hybrid powertrain as well as the new Pro Power Onboard output system, which allows the truck to act as a generator. Contractors can use it to power tools, campers can plug in necessary equipment, etc.

The rest of the 2021 winners include:

Polestar 2: Luxury Green Car of the Year
Toyota Sienna: Family Green Car of the Year
Mini Cooper SE: Urban Green Car of the Year
Jeep Wrangler 4xe: Green SUV of the Year

The winners of each category are selected by a jury of top executives and academics in the energy and environmental industries. They are joined by Green Car Journal editors and well-known car collector and former Tonight Show host Jay Leno.

(2020 Green Car, SUV of the Year finalists announced.)

Last year’s winner was the 2020 Toyota Corolla and Corolla hybrid. It beat out the Ford Escape, Hyundai Sonata, Kia Soul and Mazda3.

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Former VW, Porsche, BMW and Tesla Execs Join Forces at New EV Startup

Several top former auto execs are joining forces at Piech Automotive in Switzerland. The first EV will be the GT2 coupe.

While it may not be quite as well known as that of the Porsche family, the Piech name is equally storied among automotive insiders and enthusiasts. Together, these frequently squabbling relatives can lay claim to having helped create two of the European industry’s most important brand names: Porsche and Volkswagen. And now, the Piech name will be applied to a new sports car being launched as part of a new, all-electric marque based in Switzerland.

Piech Automotive plans to have its first model, the GT2, in showrooms late in 2022, with at least two other models to follow.

The company might be dismissed as just one of the many startups hoping to profit from the global transition from internal combustion to electric propulsion, but there are several reasons why it deserves a closer look. The most significant is the fact that it is being run by a high-powered group of former Porsche, BMW, Tesla and Volkswagen executives, notably including one Matthias Mueller.

(Mueller out, Diess in at VW — and more shakeups to come.)

The Piech GT2 will reportedly race from 0 to 62 mph in less than three seconds.

Mueller was a one-time head of the Porsche brand and rose to become the CEO of Volkswagen AG after the German automaker’s diesel emissions scandal broke in 2015. He was subsequently ousted in a boardroom coup three years later, replaced by Herbert Diess who had been recruited from BMW.

Mueller now will serve as the chairman of Piech Automotive and his appointment comes at a critical time.

The BEV startup first showed off what was then called the Piech Mark Zero concept at the 2019 Geneva Motor Show and has been pushing for funding ever since. It expects the next funding round underway now will help it raise enough capital to take the sports car into production – newly renamed the Piech GT2.

In what is now the norm for electric vehicle design, the GT2 will rely on a skateboard-like platform that will be flexible enough to handle multiple “top hats,” or bodies, with two more apparently in development, according to the company.

Also in an approach becoming quite common among high performance BEV brands, the GT2 will rely on a three-motor layout, one on the front axle, two in the rear. The combined package set to deliver 450 kilowatts of power, or 603 horsepower. That will be enough, Piech claims, to hit 100 kph, or 62 mph, in “under three seconds.”

The new GT2 will put out 603 horsepower and can be charged from zero to 80% full in just 40 minutes and 40 seconds.

(EVs cost half as much as gas-powered vehicles for maintenance.)

While the size of the battery pack hasn’t been disclosed, the two-seater is said to have a range of 310 miles using a long-range pack, and 250 miles with the standard one. These are based on the European WLTP test cycle so, if the Piech GT2 comes to the U.S., it would likely come in 10 to 20% lower.

Recharging, meanwhile, will take as little as 40 minutes and 40 seconds from empty to 80% of capacity, Piech claims. While details of the sports car’s electric architecture hasn’t been released that would clearly indicate it can use the latest 350 kilowatt public fast chargers and operates at or above 800 volts.

Currently, the only vehicle capable of using such chargers to their full capacity is the Porsche Taycan, though it is expected to become more the norm in the years ahead as it brings charging times down to what motorists currently expect when filling a gas tank.

As for the Piech name, it is one of the family branches of the family tree linked to Ferdinand Porsche. He’s the engineering genius who helped create the original “people’s car,” or Volkswagen, and who later went on to lend his name to the eponymous Porsche sports car company.

Matthias Mueller once headed up VW and is now Piech Automotive chairman.

His most notable heir, at least within the auto industry, was Ferdinand Piech who was named Volkswagen AG CEO in 1992 and later became the company’s chairman. Piech eventually became embroiled in the diesel scandal and other controversies. He died in August 2019 at the age of 82.

(Former Volkswagen chief Ferdinand Piech dies at 82.)

Mueller, who was considered a Piech protégé, will join an assortment of former industry leaders running the new EV startup. That includes its new technical director, Klaus Schmidt, who was once a senior figure at BMW Motorsport, as well as Jochen Rudat, who set up Tesla’s European distribution network.

Battle Between Nikola, Hindenburg Heats Up with SEC Probe

Nikola’s Trevor Milton continues to deny many parts of the recent report from Hindenburg Research accusing the company of fraud.

The battle between Nikola Corp. and Hindenburg Research is heating up as the U.S. Securities and Exchange Commission is now investigating the EV startup based on some of the allegations laid out in a recent report by the short-selling research firm.

Nikola, which recently finalized a $2 billion deal with General Motors, angrily denied the charges in the report, fraud being the most damning, and suggested it may file suit against the research firm about the allegations. Since then, the company has started working with SEC investigators. The SEC has not commented on the probe.

“On September 11, Nikola’s legal counsel proactively contacted and briefed the U.S. Securities and Exchange Commission (SEC) regarding Nikola’s concerns pertaining to the Hindenburg report. Nikola welcomes the SEC’s involvement in this matter,” the company said in a statement.

(Nikola CEO Angrily refutes claims of short-selling research firm.)

In the wake of the report, the Phoenix-based company revealed it engaged law firm Kirkland and Ellis to evaluate its options. The research report, which was released Sept. 10, is titled “How to Parlay an Ocean of Lies into a Partnership with the Largest Auto OEM in America.”

Hindenburg Research’s report claims that Nikola committed fraud to get a deal with GM.

While clearly a reference to the new deal with GM, the firm claimed on its website, “Today, we reveal why we believe Nikola is an intricate fraud built on dozens of lies over the course of its Founder and Executive Chairman Trevor Milton’s career.”

The ongoing news temporarily put GM Chairman and CEO Mary Barra on the hot seat during a question-and-answer session during her online appearance at the RBC Capital Markets Global Industrials Virtual Conference. Barra touted the new deal with the EV upstarts, saying that it was a great strategic fit for the automaker and its own electric vehicle development program.

“It allows us to have more people using the technology, which gives us the advantage of scale, which will help us drive costs down,” Barra said.

(GM forges $2B deal with Nikola to build trucks, develop new electric and fuel-cell technology.)

“And then from a fuel cell perspective, using the Hydrotec fuel cell technology, and entering a new segment for us, a growth segment, again validating our fuel cell technology, I think it starts to unlock an all-new growth area for us as it relates to fuel cells.”

GM Chairman and CEO Mary Barra said earlier that the company had done due diligence on Nikola.

However, when pressed about the allegations in the Hindenburg report, including that Nikola engaged in “lies and deception” in showcasing its electric vehicle technology, including staging a video that showed one of its trucks cruising down a hill, Barra said the company had conducted its due diligence before closing the deal. She then referred further questions about Nikola to representatives of the Phoenix-based company.

Nikola was on the offensive earlier Monday, noting there were “dozens” of inaccurate statements in Hindenburg’s report, and it outlined several examples. It also made the same claims last week when the report was initially released.

Aside from denying many charges, the company is also explaining some of the them in the report, such as towing one of its truck prototypes to the top of a hill and allowing it to roll down, appearing to be operating under its own power.

(Nikola Motors begins taking reservations for Badger hydrogen/electric pickup.)

“Nikola never stated its truck was driving under its own propulsion in the video, although the truck was designed to do just that (as described in previous point),” the company states. “The truck was showcased and filmed by a third party for a commercial. Nikola described this third-party video on the Company’s social media as ‘In Motion.’ It was never described as ‘under its own propulsion’ or ‘powertrain driven.’”

Frunk Yeah: Lucid Air Debuts, Starts at $80,000

Minus an unpleasant amount of virtue signaling, the Lucid Air debut was pretty good. But this is technically a commercial so what else could we have possibly expected? Lucid is an electric vehicle brand so it’s required by law to succumb to the growing list of EV clichés. Building this car the way Lucid does won’t just be better for the environment, “it will be better for all mankind.” We need to rally together because the world is ending. This startup is changing by building an extravagant automobile — that was the gist of the presentation anyway.

“We’re a California company,” explained the car’s interior designer. The Golden State was apparently so important that the interior color palates are based entirely on the way the sun plays off California’s various regions at different times of the day. They even held the event on the state’s birthday and made sure to mention it.

You get the idea. It started out a complete drag. And yet the car itself was quite interesting and the technical portions of the presentation excelled at explaining why someone might actually want this car over literally everything else that’s on the market right now.

This was more of a debut for the Lucid brand as a whole than something that was singularly focused on the Air. We had to hear about the way the company plans on designing its dealerships, about how green its factory (Arizona’s Casa Grande) is, and other disparate items that left the event feeling somewhat disjointed.

It’s not every day you get to watch a presentation about a frunk (front trunk) that proves it’s unequivocally the largest on the market. But that was Lucid’s opener. Never mind that the Lucid Air can run a quarter-mile in an alleged 9.9 seconds (when in its 1,080-horsepower format), tell me more about this gigantic storage area where I’d expect to find an engine.

Speaking of powertrains, the Air relies on Lucid’s Lucid Electric Advanced Platform (LEAP). It’s your classic skateboard architecture with the manufacturer claiming it had miniaturized components its rivals don’t, resulting in more interior space for occupants. But the motors themselves were left mysterious, as were the battery options. We know the base-model Air will start at $80,000 and will be available last, sometime in 2022. The Air Touring (starting at $95,000) is next up the ladder and boasts an impressive 620 horsepower and has an estimated range of 406 miles. Grand Touring trims ($139,000) are rated for 517 miles and 800 horsepower. The Air Dream Edition is the fanciest and will be the first to arrive in the summer of 2021. Starting at $169,000, it’s the one that will supposedly get you the sub-10-second quarter-mile time.

Lucid said to note that these prices are all subject to change and reminded customers to take into account the $7,500 federal tax credit they’ll be eligible for.

While the Air has a compelling shape, it’s becoming too familiar. Consider Porsche’s Taycan, Nio’s ET, Polestar’s Precept, or Faraday Future’s FF 91. Each of these EVs debuted in neutral color palates with razor-thin headlamps, bar tail lamps, and highly similar profiles. Most of them are also covert hatchbacks that look like sedans — including the Air. None of them are bad looking, quite the opposite. But there’s a faint sameness to them that’s mildly disheartening, even if this particular brand of minimalist futurism happens to be easy on the eyes. It’s like they all doing something different the exact same way. Perhaps it’s the constant obsession with drag coefficients, which just so happens to be particularly low on the Air at just 0.21.

Charging is said to be fast. Under ideal circumstances, customers can expect to recoup 20 miles per minute when plugged into a DC fast-charger. But there will also be a series of home-charging solutions, including one that allows energy to be shared between the car and the home.

Tesla was not mentioned during the event but it was still issued a couple of minor burns. The first attack came when Lucid passive-aggressively noted how valuable the paint factory was to the rest of its production facility. The second came when the Air’s interior was shown to have a huge 34-inch display wrapped around the driver instead of sitting in the middle of the cabin. Lucid’s display is also paired to a smaller touchscreen located between the front seats.

The interior is probably the Air’s greatest strength. It’s attractive and looks like the kind of place you’d want to spend your time. The vast greenhouse is welcoming but it doesn’t seem to offer much privacy and one has to wonder what happens in direct sunlight without some UV protection. Front seats are black to evoke a sense of sportiness while the back will have brightly colored upholstery to give a dash of calmness — which you can make even calmer by splurging on executive-style seating. Sadly, fixed luxury seats will be all that’s available at launch and they are all labeled with little bears to remind everyone of California.

So much mention made of California.

Dream Drive, Lucid’s autonomous vehicle suite, will be available at launch. However, it’s only rated for SAE Level 2, meaning it’s not even remotely autonomous and doesn’t get to rub anything in Tesla’s face. An upgraded version is said to be made available via over-the-air updates eventually and that is exactly what Elon Musk has been telling us for years. Air does have an impressive sensor/camera array, however, and they’ll support all the creature comforts you’d find on any other high-end model. The company tried to make it sound like it was on par, if not better than Tesla in terms of advanced driving aids. But we’re withholding all judgment until Lucid proves its fully realized its goals.

There were some key technical items missing from the presentation. But we’re assuming that will be revealed soon enough. It’s taken us so long just to get to this point that we don’t want to assume anything. Lucid unveiled the Air in late 2016 and announced plans for a factory in Arizona only to find itself running out of money. The company has since claimed a $1 billion investment from Saudi Arabia’s sovereign wealth fund saved the day and has allowed it to make the car even better than before.

Production begins on the most expensive versions of the Air next spring, with deliveries commencing the following summer. From there, the company wants to introduce the next-highest trim every quarter. Interested parties can visit the brand’s website to make a $1,000 reservation.

[Images: Lucid]

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Nio Finds Way to Cut EV Price: Don’t Buy the Battery

Nio is offering to cut about $10K off the price of a new EV if you lease the battery instead of buy it under its Battery as a Service subscription.

Chinese electric vehicle maker Nio Inc. is offering a way to save EV buyers big money when they purchase their vehicle: don’t buy the battery pack.

The company is introducing a battery leasing service, letting buyers purchase an EV without owning the battery pack instead leasing it. The program is called Battery as a Service, or BaaS, and owners pay a monthly lease of about $140 for the battery. The service is available on the ES8, ES6 or EC6 models and the 70 kWh battery.

Currently, Nio sells vehicles in China, but not in the U.S. so the service is only available in China. The EV maker’s least expensive vehicle starts at 273,600 yuan, or $39,553, for the ES6 sport-utility vehicle without the battery pack. If you add the battery, the price rises to 343,600 yuan, or about $49,627.

(Chinese EV maker Nio facing potential failure.)

Nio formed a joint venture to take care of the battery subscription.

“We believe with BaaS, more customers of gasoline cars will consider electric vehicles,” Nio’s Chief Executive William Li told reporters. To make it work, the company formed a joint venture named the Wuhan Weineng Battery Asset Co. Ltd.

Contemporary Amperex Technology Co. Ltd, or CATL, Hubei Science Technology Investment Group Co., Ltd. and a subsidiary of Guotai Junan International Holdings Limited are in on the deal with Nio. Each partner invested $28.89 million and holds a 25% stake in the new company.

Nio has long advocated for battery-swapping instead of recharging your vehicle. The company has 143 battery-swapping stations around China. Li said Nio was building a new battery-swapping station in China every week and planned to build 300 new stations next year.

(Chinese EV maker Nio eyes $1.8B IPO on NYSE.)

As for a potential move to the U.S., Li said the company was looking to enter some international markets – starting in Europe – starting in the second half of 2021 and continuing into 2022. He did not offer a specific reference to when the company will move into the U.S. market.

Chinese EV Maker Nio is swapping batteries instead of plugging them in to “recharge” them at more than 140 locations across the country.

The announcement reveals just how important the subsidies from the Chinese government can be to EV makers there. In March, Nio was scrambling to find cash to support its operations, including tapping municipal and private investor funding.

Nio had a cash balance of just $151.7 million on Dec. 31. That amount of cash would not carry the company forward for vehicle development, production, etc. for the next 12 months, the company noted at the time.

The EV maker has been looking for ways to remain viable, attempting to work out an agreement with the Hefei city government to raise more than 10 billion yuan, or about $1.42 billion, and set up new manufacturing facilities.

(China using subsidies to kick-start auto sales in wake of coronavirus outbreak.)

The company also made several private placements of convertible notes in February and March for an aggregate principal amount of $435 million to support its operations and business development. It ultimately raised a little more than $1 billion.

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Fisker Going Public on NYSE, Expected to Raise $1 Billion

Henrik Fisker has reason to be all smiles with his company’s plan to go public coming to fruition.

A week after the first rumblings, Fisker Inc. confirmed today its partnering with Apollo Global Management Inc. to take the electric vehicle maker public, netting the new Fisker $1 billion to help it get its first offering, the Ocean, into production.

The company will merge with Spartan Energy Acquisition Corp., a shell company formed by Apollo Global Management Inc., and then move to an initial public offering on the New York Stock Exchange. Using a shell company to facilitate the move is a common practice when taking a company public.

After the offering, some expect the new Fisker will be worth of nearly $3 billion at the $10.00 per share PIPE price – the price of stock that investors will pay, usually lower than the publicly traded price – and assuming minimal redemptions by Spartan shareholders. The deal is expected to be complete during the fourth quarter of this year.

(Fisker going public through merger with investor-backed shell company.)

The deal will give the Los Angeles-based company the capital it needs to get the Ocean SUV into production and on the road in 2022, according to the company.

Henrik Fisker’s newest electric vehicle entry, the Ocean, is expected to arrive in 2022.

“Today, the realization of the world’s first digital car company took another major step forward, advancing our mission to commercialize the world’s most emotional and sustainable vehicles, while upholding our vision of a clean future for all,” Founder Henrik Fisker said in a statement.

“We are excited to partner with Apollo, a world-class financial institution who brings deep industry expertise, extensive global relationships and a shared commitment to ESG. This vote of confidence from investors, coupled with our exciting progress on the development of our first vehicle, lays out Fisker’s path to 2022 and beyond.”

Though the additional funds are important for certain, where the Ocean – and any potential siblings – will be built has yet to be settled. The most likely candidate is Magna International, which builds vehicles for several automakers; however, that hasn’t been confirmed. It’s also reported that Volkswagen’s MEB platform could be used to accelerate production.

(Fisker sale in the works, could take EV startup in public.)

As with Tesla and the upcoming Ford Mustang Mach-E, the Fisker Ocean will be offered in several different configurations, starting with a base version, priced at $37,499, which uses a single electric motor powering the rear wheels. All other versions will have twin motors providing through-the-road all-wheel-drive.

The AWD package makes 225 kilowatts, or 302 horsepower, and the company plans to reveal an “ultra-high-performance” version next year that promises to launch from 0 to 60 in less than 3 seconds.

Fisker shows off the company’s app, which gives users a variety of options and functions.

The standard battery pack is 80 kilowatt-hours, and the company expects range of around 300 miles, though the final EPA numbers won’t be released until later this year. If the figures hold, it would make the Ocean one of the most efficient EVs on the market, potentially yielding even better miles-per-kilowatt than Tesla delivers. It certainly would look good against the Audi e-tron which manages just 204 miles per charge despite having a 95 kWh pack.

Charging to 80% on a 150-kilowatt quick charger will take about 30 minutes, Fisker claims. While pricing has been released, those interested in driving one will not be forced to buy the Ocean as the company plans to have a robust leasing enterprise.

“Drivers of the Fisker Ocean SUV will also benefit from our unique flexible lease program that maximizes affordability, while delivering unrivaled ownership flexibility,” Fisker said. “Deployed through our proprietary app, our leasing model has been designed to appeal to customers looking for the ultimate in sustainable mobility and freedom from traditional and restrictive leasing programs.”

(By the numbers: Fisker offers plenty of specs on the all-electric Ocean SUV.)

The startup hasn’t revealed all of its pricing figure yet, but it noted during the vehicle’s debut earlier this year it will offer a “flexible,” essentially open-ended, lease starting at $379 a month. Meanwhile, it is planning to include free charging using Electrify America stations, though details have yet to be revealed.

Tag: EVs