🪓 Renault plans to chop EV production costs by 40% from H2 2023 with an alliance of Western automakers. The coalition sees the cost cuts as a competitive requirement as Chinese EV makers like BYD and SAIC attract European consumers and Tesla lowers prices. Stellantis CEO Carlos Tavares advocates similar strategies to combat "brutal" competition.
"When things become more affordable, more people buy them" doesn't seem like hidden wisdom. Still, companies keep realizing it, so we will keep saying it.
Seven automakers, including BMW, GM, and Honda, are collaborating on a North American EV charging network. The plan promises 30,000 high-speed chargers by 2030. It aims for improved charging experience, interoperability, and renewable energy use, starting deployment in the summer of 2024.
We'd say having just two options, Tesla's NACS and this new collaboration, is a mighty fine step up from every brand having a unique network with unique software and subscription options. Now if only we could be rid of some of these streaming services...
👀 Volkswagen will invest $700m for a 5% stake in Xpeng. The companies will co-develop two EVs for the Chinese market based on Xpeng's G9 SUV platform. All this is part of VW's changing strategy due to a 71% cash flow plunge in Q2, resulting in a cut to its full-year sales forecast.
Feels like a keep your friends close and your enemies closer situation. But just 5% closer, don't wanna risk becoming accidental BFFs.
🤵 Porsche has opened its first EV Charging Lounge in Germany. The fancy lounge provides luxury amenities and renewable energy-powered charging stations for its EV drivers. This development aligns with Porsche's goal of 80% electric lineup by 2030, with further lounges planned across Europe.
Oh, this could really work. Exact same charging, better seats, snacks, and locks.