Wednesday News

Regulations, private air travel, and profit/loss breakdowns.

Today's news is robust and may be better taken as a buffet than an 8-course meal.

But don’t let us tell you how to party.

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US vs. Chinese EVs: A Balancing Act

The White House is actively addressing the surge of Chinese EVs, aiming to balance climate initiatives with domestic industrial policy.

• Central to this effort is the ambition to have EVs represent 50% of US car sales by 2030, intertwined with economic and security considerations regarding foreign tech, particularly from China.
• A Commerce Department probe was announced to investigate security risks from "connected" vehicles, highlighting concerns over a potential "flood" of Chinese cars impacting domestic goals.

Euro NCAP: Bringing Back the Buttons

Starting January 2026, the European New Car Assessment Programme (Euro NCAP) will introduce new rules affecting car safety ratings, penalizing vehicles without physical controls for essential functions.

• This decision targets the industry-wide shift towards touchscreen interfaces over traditional buttons and dials, aiming to reduce driver distraction and enhance safety.
• Automakers like Hyundai and Toyota are noted for integrating more traditional controls, while others are urged to adapt to ensure their vehicles meet these forthcoming safety standards.

Taking to the Sky

Alef Aeronautics has garnered 2,850 preorders for its $300,000 Model A flying car, aiming for a 2025 launch. Unlike typical eVTOLs, the Model A mimics a conventional car's design, backed by SpaceX (Not Tesla, but the same vibes) and investors like Tim Draper (Not Don Draper from Mad Men). It faces regulatory hurdles but represents a novel blend of road and air mobility.

Pyka's Pelican Cargo aircraft, an autonomous electric freight carrier, showcases at New Braunfels Airport. With a 400-pound payload and 200-mile range, it partners with AFWERX for the US Air Force's Agility Prime program, pushing the envelope in remote cargo delivery and setting new benchmarks in sustainable aviation.

In Good Company

General Motors is developing a fleet of hydrogen fuel-cell medium-duty trucks in a $65 million project. The DOE's is contributing $26 million to the project into order to demonstrate hydrogen as a sustainable alternative to diesel.

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In February, Ford's US sales rose by 10.5% with a significant 81% surge in EV sales, indicating robust demand for hybrids and all-electric vehicles.

• Total sales hit 174,192, driven by an 81% increase in EVs, including notable jumps for the Mustang Mach-E (up 64%) and the F-150 Lightning (up 93%).
• 89.5% of sales were still traditional vehicles. The company's overall year-to-date sales improved by 6.6%, reflecting Ford's growing emphasis on electrification.

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NIO reported a Q4 2023 revenue increase of 6.5% YOY to $2.38 billion, despite a net loss of $923 million.

• NIO celebrates 10 years, launching Alps and Firefly EV sub-brands.
• Alps targets Tesla Model Y, debuting Q2 2024.
• Anticipated production: 10,000 units/month.
• NIO plans to enter the UAE market in 2024, expanding its global presence.

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Toyota announced it will make Primearth EV Energy Co, a joint venture with Panasonic, a wholly owned subsidiary, to boost production of EV and hybrid vehicle batteries. The acquisition is slated for late March.

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One weird thing about keeping up so we don’t have to catch up is how often a tiny update is released attached to the bulk story we already know.

Example: We don’t need to tell yall Toyota cares about hydrogen power ever again, you know, everybody knows. But we do want to tell you when they actually do something with that care.

We will try to stick to the verbs and not the comments. Feel free to hit reply and let us know what you’re seeing, and we will dig in and show what we find.