💼 Scout Motors, a Volkswagen company, broke ground on a $2 billion assembly plant in South Carolina. 🏗️ The assembly plant is located in Blythewood, South Carolina, covering 1,600 acres. 🛠️ Scout Motors aims to generate 4,000 jobs with this plant and will focus on electric vehicle pickup trucks and SUVs. 🚚 The plant plans…
💰 SpaceX is investing $100 million in a new industrial complex at its Starbase complex in Brownsville, Texas. 🏭 The industrial complex, dubbed “SpaceX Starbase Office,” will encompass approximately 1 million square feet of space, equivalent to 15 football fields. 🚀 Construction of the complex, including a five-story office mezzanine, is expected to begin on…
💡 BorgWarner, a tier-1 automotive supplier, gains rights to localize production of BYD’s LFP blade battery cells. 🚗 BorgWarner will manufacture lithium-iron-phosphate (LFP) battery packs for commercial vehicles using BYD’s blade cells. 🌍 BYD grants BorgWarner rights to localize LFP battery pack production in Europe, the Americas, and select regions in the Asia Pacific for…
🛰️ SpaceX’s Starlink obtains a license to operate in Israel and certain areas of the Gaza Strip. 🇮🇱 Starlink’s approval in Israel includes measures to prevent unauthorized use and supports emergency backup communications. 💼 Initial sales of Starlink terminals in Israel will target approved clients such as local councils and government bodies. 🤝 Israel’s Communications…
💥 Ford CEO challenges Tesla and its Full Self-Driving system. 🚗 Farley promotes Ford Pro as the future of automotive industry. 💼 Ford Pro boasts half a million subscribers with a 50% gross margin. 💰 Ford Pro’s pretax earnings expected to rise between $8-9 billion in 2024. ⚡ Ford Blue’s pretax earnings projected around $7-7.5…
💰 Tesla electric vehicle prices decreased by over one-fifth year-over-year. 📉 Average transaction price for EVs dropped by 10.8% in January 2024 compared to the same month in the previous year. 🚗 Tesla Model Y’s price decreased by more than 21% in the past year. 💸 Incentives for EVs have more than tripled in the…
💡 Rivian teases the lights and silhouette of its upcoming electric vehicle, the R2. 📅 The R2 reveal livestream is scheduled for March 7, 2024, at 10 a.m. PST. 🚗 Details about the R2 are limited, but it’s expected to follow the design approach of Rivian’s R1T pickup truck and R1S SUV. 🎥 Rivian will…
💼 Tesla likely to leave Delaware as its place of incorporation after SpaceX’s move to Texas. ⚖️ Delaware Court of Chancery Judge revoked Elon Musk’s $56 billion pay package approved by Tesla Shareholders in 2018, citing lack of proper information to shareholders. 🏛️ Delaware is a common place for businesses to incorporate due to favorable…
💰 Lucid has reduced prices on the Air electric vehicle lineup by up to $8,000. 🚗 Lucid Air Pure Rear-Wheel-Drive is now priced at $69,900, down from $77,400, offering a driving range of up to 410 miles. 🏎️ Lucid Air Touring is now priced at $77,900, previously $85,900, featuring an All-Wheel-Drive powertrain with 620 horsepower.…
💼 The ongoing conflict between Tesla Sweden and trade union IF Metall persists, with no resolution in sight. 🛠️ Despite the ongoing dispute, IF Metall has eased restrictions, allowing workshops to repair damaged Teslas, particularly those awaiting repairs before the conflict began. 📅 IF Metall estimates that approximately a hundred cars can now be repaired…