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After months of negotiation, Nissan is investing up to $663 million in Renault's new electric vehicle unit, Ampere. This restructured deal will level their partnership, allowing both to navigate a shifting industry. Other partners, including Qualcomm and Mitsubishi Motors, are considering investing in Ampere.
Nissan is also celebrating 1 million global EV sales, 12 years after the LEAF's launch. With 19 more EV models planned by 2030 and solid-state batteries inching closer each day, the company also has big electric plans apart from Ampere.
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GM is developing a next-gen Chevy Bolt using their Ultium battery tech. While the new "affordable and extended range" Bolt will launch on an "accelerated timeline," production issues may delay the Ultium batteries. Despite the setbacks, GM aims to produce 100,000 EVs in the latter half of 2023, on its path to building 1 million EVs by 2025.
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Stellantis saw a 12% YoY rise in net revenues and a 37% surge in net profit for the first half of 2023. The firm, which raised its European and Middle East & Africa growth outlook, recorded a 24% and 28% YoY rise in battery EV and light EV sales, respectively.
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Tesla has usurped Toyota as the top-selling brand in California, with the Model 3 and Model Y becoming the two best-selling vehicles in Q2 2023. The electric automaker's record performance has pushed BEV market share to a record 21%. The shift indicates a growing consumer preference for EVs in the region.