There was a time when Rivian was like NASCAR; most people were only watching for the eventual crash. (Not us, no way. We watch for all those expertly executed left turns)
However, a few strong investments and strategic partnerships can really make (or break) a company.
Do you think Rivian will rise to the level of BYD and Tesla with this massive VW investment?
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Volkswagen is making a substantial investment in Rivian, with an initial $1 billion and an additional $4 billion to follow. This joint venture aims to integrate Rivian's cutting-edge EV technology into VW's extensive lineup, promising exciting developments for both companies.
As electrification ramps up, partnerships like this highlight the importance of collaboration. Rivian’s innovative technology and VW’s extensive market reach could become an untamable force in the EV market.
However, with the cooling demand for EVs and ongoing software challenges, both will need all their talent and maybe some luck to make it count.
A fire at Aricell's lithium battery factory in Hwaseong, South Korea, killed 23 people. The plant has been shut down for inspection as authorities investigate safety violations.
The fire quickly spread due to stored lithium batteries. This draws a circle around the need for updated safety practices as batteries become more common in the industry.
Aricell faces scrutiny over its safety measures and employing foreign workers without adequate training.
It’s never easy to talk about the loss of life; we only hope this tragedy is a wake-up call to those sleeping on the danger of not respecting these materials properly.
Electrogenic has introduced a "plug and play" EV conversion kit for the classic DeLorean DMC-12. So if you have an extra DeLorean lying around, you can use the kit to transition it from the standard flux capacitor to a battery.
Enough for a trip to the past, but you’ll have to take the long way back to the future.
Cox Automotive's mid-year review says we’re sitting in a slowing economy and new vehicle supply is stabilizing. Check out this detailed forecast for the remainder of 2024.
Gimme the deets:
Election Jitters: Auto Industry on Hold
Cox Automotive's report suggests the uncertainty in the US auto industry due to the upcoming presidential election. While new vehicle sales in H1 2024 rose by 2.9%, consumers are hesitant to make large purchases amid economic unpredictability. Inflation remains a top concern for both consumers and dealers.
Why the worry?
Broader Implications
The automotive industry faces a complex landscape with mixed economic signals and significant political uncertainty. As the market adapts to these challenges, dealers and consumers must navigate this evolving environment cautiously.
Thirsty? The new Mercedes eSprinter cargo van has a staggering ten cupholders for two seats, breaking records with five cupholders per passenger. This electric van, designed for practicality and convenience, showcases the automaker's attention to detail in enhancing user experience.
CarMax's data is sometimes a microcosm of the industry so when they drop their reports, we give em' a look.
What does it mean for the rest of us?
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You can tell a lot about a person by what they have in their car. Trunk, floorboard, cup holder. Time to confess: