🤨 What’s Next in Auto?

Volvo’s Electric Leap, VW’s Tough Call, and Polestar’s CFO Shuffle—What’s Next in Auto?

Volvo's New Electric Semitruck

Volvo Trucks is set to launch a new long-range electric semitruck, the FH Electric, in the second half of 2025.

This next-generation model doubles the range of its predecessor, reaching approximately 373 miles on a single charge, compared to the current 186-mile range.

The increased range is attributed to Volvo's new e-axle driveline technology, which integrates electric motors and the transmission into the rear axle, allowing for more battery space. The truck will feature eight batteries, up from six in the current model. Volvo aims for net-zero emissions by 2040 and has already delivered over 3,800 electric trucks globally since 2019.

Volkswagen's Plant Closures

Volkswagen Group may close two German plants due to declining EV sales, a historic first for the company. The closures target Dresden and Osnabruck plants, affecting key models and job security.

• 15% drop in EV sales in Europe and the U.S. in H1 2024.
• Plants produce VW ID.3, T-Roc Cabriolet, and Porsche 718 models.
• Closures could affect Volkswagen's job security program, set until 2029.
• Positive sales reported in other regions, but EV market uncertainty persists.

Polestar's CFO Shuffle

Did Polestar really need another executive change?
Apparently, yes. Polestar just appointed Jean-Francois Mady as CFO, marking the fourth executive change in recent months. It seems they're collecting C-suite executives like trading cards.

What happened to the old CFO?
Interim CFO Per Ansgar is heading back to his role at Geely's Swedish unit. Mady's stepping in just in time to help Polestar handle those pesky EU tariffs and reach their $1.3B funding target.

Is Polestar going broke or something?
Not exactly. They just secured a $300M loan, adding to the $950M they already had. But with all these leadership changes, who knows if they'll hit their double-digit gross margin goal by year-end.

Aramco Plays the Long Game

Aramco is holding steady with a 10% stake in the Renault-Geely joint venture, valuing the venture at a cool €7.4B.

But they're not just sitting on their hands—they're actively pursuing more M&A deals to expand their downstream presence, including investments in Chile, Pakistan, and the U.S.

Not to mention, they're pouring "hundreds of millions" into e-fuel development with new demo plants in Saudi Arabia and Spain.

Aramco's also doubling down on the future of fuel, collaborating with Aston Martin to meet the 2026 Formula 1 regulations. It's clear they're playing the long game, even as they stick with their current JV stake.

Rivian Bounces Back After Factory Fire

A fire at Rivian's Illinois factory destroyed over 50 EVs but left production undamaged. The company remains focused on growth, supported by $800M in state funding for facility expansion.

• 50+ EVs destroyed, including SUVs and trucks.
• Over 100,000 EVs have been produced since 2021.
• $800M in state funding secured for factory expansion.
• Focus on producing the R2 midsize SUV in the near future.

BYD Smashes Sales Records in August

BYD set a new record in August with 370,854 passenger vehicle sales, marking a 30% YOY increase. The growth highlights strong hybrid demand despite challenges faced by other Chinese EV startups.

• 370,854 vehicles sold in August, a 30% YOY increase.
• Hybrids account for two-thirds of sales, up 48%.
• BYD sold 31,451 cars overseas in August.
• Company on track to sell nearly 400,000 cars outside China in 2024.

XPeng's Flying Car Delayed to 2026

When can I finally buy a flying car?
Not as soon as you thought. XPeng AeroHT's Land Aircraft Carrier is now set for 2026 instead of 2025. Guess you'll have to wait a bit longer to take to the skies.

Why the delay?
Blame it on the new factory in Guangzhou. Construction is behind schedule, and without it, mass production can't start. At least they're planning some flashy public test flights in November to keep you interested.

How much is this thing going to cost me?
Oh, just a casual $280,000 or less. If you've got that lying around, you could be among the first to own a flying car—whenever it finally arrives.

5 Facts About Prius' New Sodium-Ion Battery

1. Why Sodium-Ion? Sodium-ion batteries are more stable and handle extreme temperatures better than the old nickel-metal hydride (NiMH) ones.
2. Cost vs. Performance: These new batteries are cheaper but slightly heavier and less energy-dense than lithium-ion alternatives.
3. Safety Concerns: Unlike lithium, sodium-ion cells present less fire risk and can handle full discharge without much damage—ideal for your Prius in hot or cold climates.
4. Controversy Alert: Some experts are skeptical about NexPower's engineering practices, citing past issues with their lithium-ion packs.
5. Shipping Soon: Expect these sodium-ion packs to hit the market this month, though the jury's still out on how they'll perform in real-world conditions.