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UAW Vs. Trump Vs. Harris Vs. Musk?

Musk endorses Trump, UAW endorses Harris. But, will it sway voters?
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UAW Vs. Trump Vs. Harris Vs. Musk?

United Auto Workers President Shawn Fain criticized Donald Trump's ties to Elon Musk while campaigning for Kamala Harris, the Democratic Presidential candidate.

Musk endorsed Trump after the assassination attempt on the former president and reportedly planned to donate $45M monthly to a pro-Trump PAC (though both Musk and Trump later denied this).

Fain accused Trump of changing his stance on electric vehicles due to Musk's influence, calling him a "sellout."

Meanwhile, as Musk costs Trump support, Trump seems to be costing Elon a bit of strife also. A European drugstore giant Rossmann stopped purchasing Tesla vehicles, citing Musk's political support for Trump as incompatible with Tesla's environmental mission.

If re-elected, do you see Trump's sudden support of EVs as a challenge for U.S. Retail Auto?

Pick one and leave a comment.

Battery Flambé

Experts are raising alarms about cities' preparedness for EV fires, which are notoriously difficult to extinguish and can reignite. The lagging regulatory codes increase safety risks, especially in enclosed spaces like parking garages and maintenance facilities. To mitigate these dangers, advanced fire suppression systems and proper facility designs are crucial.

On a more positive note, ChargePoint has introduced the Omni Port, a versatile DC fast charger supporting both NACS and CCS plugs. This innovation aims to eliminate plug confusion, enhancing compatibility for all EV drivers. The Omni Port will soon be integrated into public and home charging stations, marking a significant step forward in making EV charging more accessible and user-friendly.

Ford's European Sales Plummet

Ford thought ditching small cars for crossovers was smart. Now, their sales are tanking, and competitors are laughing all the way to the bank.

  • Ford's sales in Europe are falling due to strategic missteps.
  • The discontinuation of the Fiesta, Mondeo, and Ka resulted in a 16.9% sales drop in the EU, EFTA, and UK.
  • This led to a market share decline from 4.1% to 3.3%. With the Focus set to be discontinued by 2025 and slower EV growth, Ford's new electric models may struggle to recover lost ground.

Lucid Motors' Strong Q2 Performance

Lucid Motors is making bank and proving they're tech wizards with their EVs. They also snagged a cool $1.5B to keep the magic going.

  • Lucid Motors reported strong Q2 2024 financial results, earning $200.6M from 2,394 vehicle deliveries and planning to produce 9,000 vehicles by the end of 2024.
  • A $1.5B investment from the Public Investment Fund (PIF) strengthens its financial stability. Lucid also achieved an efficiency milestone of 5.0 miles per kilowatt hour, reinforcing its leadership in EV technology.

Hyundai's New EV Plant in Thailand

Hyundai's betting big on Thailand with a new EV plant to take on BYD. The goal? Steal some market share and help Thailand hit its ambitious EV targets.

  • Hyundai is investing $28M to build an EV assembly and battery plant in Thailand, operational by 2026, in partnership with Thonburi Automotive Assembly Plant Co. BYD, leading Thailand's EV market, sold nearly 30,000 electric cars last year and holds a 46% market share in 2024's first quarter.
  • This investment aligns with Thailand's goal to become a leading EV hub in Southeast Asia.

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