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Ev Production

All articles tagged with #ev production

business3 months ago

Honda and Acura Discontinue Key Electric Vehicle Models in the U.S.

Honda is ending U.S. production of the Acura ZDX electric crossover, which was assembled by GM in Tennessee, citing market conditions and slower EV demand. The vehicle's production was scheduled to start for the 2026 model year but has been canceled, though other Honda EVs like the Prologue will continue production. Honda plans to focus on new models, including the all-electric Acura RSX and hybrid-electric vehicles, with no impact on GM's employment plans at the Spring Hill plant.

via CNBC|
#acura-zdx#business#ev-production
business5 months ago

Ford accelerates EV plans with $7 billion investment in Kentucky and Michigan

Ford is investing nearly $2 billion to convert its Louisville Assembly Plant in Kentucky to produce affordable electric vehicles, including a midsize electric pickup truck set for 2027, as part of its broader strategy to lead in profitable EV manufacturing despite industry and political challenges. The overhaul aims to reduce costs, speed up production, and create or secure nearly 4,000 jobs, emphasizing Ford's commitment to innovation and competition in the EV market.

via NBC News|
#business#electric-trucks#ev-production
business1 year ago

Rivian Faces Revenue Challenges Amid Supplier Issues and Widening Losses

Rivian reported a third-quarter revenue of $874 million, falling short of expectations due to a supply chain issue affecting its Enduro motor, which disrupted production of its R1S and R1T vehicles. The company has revised its annual production guidance and expects a larger adjusted earnings loss. Despite these challenges, Rivian is working to improve efficiency and has announced a battery partnership with LG Energy Solution for its upcoming R2 platform, with production expected to start in 2026.

via TechCrunch|
#business#enduro-motor#ev-production
business1 year ago

"GM's 2025 EV Goals Uncertain After CEO Remarks"

General Motors' goal of producing 1 million all-electric vehicles in North America by the end of 2025 is in doubt after CEO Mary Barra indicated that market demand has not developed as expected. The company has adjusted several EV targets and plans, and a spokesman clarified that the target was about production capacity, not actual production. GM will no longer reiterate its 2025 EV production capacity plans, emphasizing flexibility to meet demand. More details may be revealed in the company's second-quarter results on July 23.

via CNBC|
#2025-targets#business#ev-production
business-automotive1 year ago

"Global Tensions: EV Investments, NATO Assurance, Gaza Ceasefire, and Palm Sunday Amid Conflict"

Hyundai Motor Group plans to invest $51 billion in South Korea over three years to boost electric vehicle production and new mobility business, with more than half of the investment allocated for research and development infrastructure and assembly lines for EVs. The company also aims to hire 80,000 new employees and is doubling down on electrification, with a focus on the United States market. This investment comes as other automakers are slowing their EV production plans and shifting capital to hybrid models or shareholder returns.

via Reuters|
#business-automotive#electric-vehicles#ev-production
business1 year ago

"Nio Slashes Q1 Delivery Forecast to 30,000 Units Amid Weak Demand"

Nio has revised its first-quarter delivery guidance to around 30,000 vehicles, down from the previous outlook of 31,000 to 33,000, hinting at March deliveries of about 11,813 units. Li Auto also lowered its first-quarter delivery guidance, expecting to deliver between 76,000 and 78,000 vehicles, down about 24 percent from its previous guidance. Additionally, Tesla reportedly reduced EV production at its China factory due to sluggish growth in sales of new energy vehicles and fierce competition in the market.

via CnEVPost|
#business#china#ev-production
business1 year ago

"GM and LG Chem's $19 Billion EV Battery Supply Agreement"

General Motors and LG Chem have established a $19 billion long-term supply contract for cathode materials, with LG Chem set to supply GM with over 500,000 tons of materials from 2026 to 2035. The materials will come from LG Chem's Tennessee plant and will be used to power 5 million electric vehicles. This move aims to support GM's growing EV production needs and strengthen the North American supply chain, while also contributing to a sustainable future for the North American EV market.

via Detroit News|
#battery-supply-deal#business#ev-production
businesstechnology2 years ago

"Red Sea Attacks Disrupt EV Production at Tesla and Volvo Plants"

Volvo has halted its electric vehicle production in Europe due to the threat of violence from Iran-backed Houthi fighters attacking commercial ships in the Red Sea, following Tesla's similar move. The blockade at the Bab al-Mandeb strait has led to increased attacks on commercial vessels, prompting companies to reroute or halt shipping altogether. Volvo's Ghent factory in Belgium will stop production for three days due to delayed deliveries of gearboxes, impacting the production of its fully electric XC40 and C40 models. The disruption is not expected to significantly impact Volvo's production targets, but tensions are escalating with US and UK airstrikes on Houthi targets in Yemen.

via Electrek|
#businesstechnology#ev-production#houthi-fighters
businesstechnology2 years ago

"Honda Explores $14 Billion EV Production Plan in Canada"

Honda is reportedly considering a nearly $14 billion project to build an electric vehicle plant in Canada, potentially including in-house production of batteries, marking one of the company's largest investments. The Japanese automaker has been slow to increase sales of electric vehicles, with battery-powered vehicles accounting for less than 0.5% of its worldwide sales. The potential plant could start production as soon as 2028, and Honda is looking at multiple sites, including one next to an existing automobile factory in Ontario. This comes as Honda already has plans to begin production and sales of EVs in North America in 2026, based on its new Honda e:Architecture.

via Reuters Canada|
#businesstechnology#canada#electric-vehicles
business2 years ago

"Fire Halts Production at GM's Factory Zero EV Plant in Detroit"

General Motors (GM) temporarily halted production at its Factory Zero EV plant after a fire broke out, causing the building to be evacuated. No injuries were reported, and the fire was determined to be non-vehicle related. GM has since resumed production and is investigating the cause of the fire, which is believed to have been caused by a forklift accidentally puncturing a container of battery materials. This is the second incident at the Factory Zero plant, with the previous one involving an autonomous electric car fire.

via Electrek|
#business#ev-production#factory-zero
business2 years ago

Fire at GM's Factory Zero Detroit-Hamtramck plant leaves employees unharmed

General Motors halted production at its Factory ZERO electric vehicle plant in Detroit after a fire broke out, believed to have originated from lithium-ion batteries. The cause of the fire is still under investigation, but all employees were safely evacuated and no injuries were reported. The plant, which produces electric vehicles such as the GMC Hummer EV and Chevy Silverado EV, employs around 1,880 people.

via WDIV ClickOnDetroit|
#business#ev-production#factory-zero
automotive2 years ago

Ford Cuts F-150 Lightning EV Production in Half to Meet Demand

Ford is reducing the production plans for its F-150 Lightning EV pickup due to lower customer demand. The automaker initially aimed to produce 150,000 vehicles per year but has now informed suppliers that it will only assemble around 1,600 Lightnings per week, half of the original goal. This decision comes as consumers hesitate to pay higher prices for EVs and face increased financing costs. Despite reporting record sales in November, Ford's reduced production target may not meet the growing competition in the EV truck market. Ford is still targeting an 8% EBIT margin for its EV business by 2026 and is banking on improvements in its current EV models and the launch of second-generation EVs to drive profitability.

via Yahoo Finance|
#automotive#competition#customer-demand