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Electric vehicle start-up Fisker is exploring bankruptcy, The Wall Street Journal reported this week. Fisker’s stock plunged this week as investors worry about the company’s ability to survive amid a cash crunch. The auto company also said it would slash 15% of its workforce. The Wall Street Journal reported: Electric-vehicle startup Fisker FSR -55.88%decrease; red down pointing triangle has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running out of cash this year, hired financial adviser FTI Consulting and the law firm Davis Polk...

Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans.. consumer demand for EVs hasn’t shown up in the way executives had expected ... The buzz around electric vehicles is wearing off. For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth. Wall Street boosted valuations for legacy automakers and startup entrants alike, based in part on their visions for an EV future. Now the hype...

Powering the nation’s long-haul trucks with electricity would require the same amount of electricity for more than 46 million homes every year. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ In 2022, California adopted regulations that required all new cars, trucks and SUVs sold in the state to be zero emissions by 2035. Immediately, 17 states eyed the electric vehicle mandates and started considering their own. That was on top of the Biden administration’s own tailpipe standards, which many say function as a federal EV mandate. The vision of a forced electric vehicle transition hasn't quite gone as California and the Biden administration have hoped. But in...

Updated Information This story has been updated with a statement from the Georgia Department of Economic Development and Joint Development Authority of Jasper, Morgan, Newton, and Walton Counties. (The Center Square) — While Rivian Automotive paused its $5 billion plant in Georgia, state officials declined to say how — or if — they might attempt to claw back massive taxpayer-backed incentives they offered the company. In December 2021, state officials announced that Rivian planned to build a manufacturing facility in Georgia — its second U.S. plant. Georgia gave $1.5 billion in incentives and the deal was so significant that state...

Andrew Moseman goes into some detail in Friday's Atlantic magazine as to why electric vehicle sales have slowed down recently to the extent that he is now calling 2024 a lost year for EVs as reflected in the title, "America’s Lost Year for Electric Cars."Despite Moseman providing us with a myriad of obvious reasons why consumers appear to be rejecting EVs, he falls back on the easy all-purpose explanation for liberals to blame for whatever the woes: Trump's fault!

Fischer: Last year the University of Nebraska at Lincoln campus conducted a first of its kind crash test of an electric pickup truck to study whether current Highway guard rails adequately protect against the growing number of those heavy EVS that are on our roads. At 60 miles per hour the 7,000 lb electric truck tore through the barrier without offering any protection to the traveling public or reduction in speed. I've recently heard from First Responders that are also concerned about responding to electric vehicle fires. 40% of firefighters have never had EV fire safety training and I've heard...

MORGAN COUNTY, Ga. — Plans for electric vehicle company Rivian to build a $5 billion plant in Georgia have hit a bump in the road. Founder and CEO R.J. Scaringe announced on Thursday two new vehicles, the R2 and R3. The R2 was initially planned to be built at the Georgia plant, but production will now be focused at its existing facility in Normal, Illinois, according to a news release. [snip] They say the timing for resuming construction on the Georgia facility is “expected to be later.” The company says launching production in Illinois will save them an estimated $2.25...

After investing billions of taxpayer dollars in electric vehicles (EVs), the Biden administration is making a sharp dogleg on ambitious targets for implementation. In an effort to court United Auto Workers (UAW) ahead of the 2024 election, President Joe Biden is now seeking a bevy of delays in his climate change plans. From delaying planned EPA climate rules for tailpipe emissions to reevaluating planned dates for EV ownership levels. EV carmakers swallowing massive losses, autoworkers deprived of jobs, and consumers remaining unconvinced to drive electric cars despite incentives and climate marketing were, apparently, not part of the Biden plan. Economics...

Raimondo responded, “Probably, yes. I share the concern. By the way, I have national security concerns about electric vehicles. An electric vehicle has sensors and semiconductors. They know who’s driving it, where they’re driving, huge amounts of data. Chinese EVs on our road, is that data going back to Beijing in ways that undermine our national security?

Rivian’s stock price has lost 90 percent of its value since November 2021. (The Epoch Times)—Amazon-backed electric vehicle manufacturer Rivian will be laying off a part of its workforce amid “challenging” economic conditions, the company said on Wednesday, sending its share price into a nosedive. Rivian announced its Q4, 2023, and full-year results on Feb. 21, revealing that the company will be reducing its salaried workforce by roughly 10 percent. In an email to staff, CEO RJ Scaringe said that layoffs would be implemented on Thursday. “Our business is facing a challenging macroeconomic environment—including historically high interest rates and geopolitical...

Yet another electric vehicle (EV) company has fallen on hard times. California-based Rivian Automotive Inc. has had a tough week after announcing plans to cut 10 percent of its workforce and lower production targets amid a significant decline in demand for such vehicles. The news also sent its stock plummeting by 25 percent on Thursday, marking the worst day of trading in the company's history.“Our business is not immune to existing economic and geopolitical uncertainties, most notably the impact of historically high interest rates, which has negatively impacted demand,” Rivian CEO RJ Scaringe said on an earnings call on Wednesday....

Electric vehicle makers Rivian and Lucid both suffered plummeting share prices after disappointing fourth-quarter earnings reports revealed stagnant production numbers. CNBC reports that shares of electric vehicle makers Rivian and Lucid plunged on Thursday following disappointing fourth-quarter earnings reports released after markets closed on Wednesday. Rivian stock sank around 25 percent, while Lucid shares dropped nearly 17 percent. Both companies cited stagnant production numbers and “existing economic and geopolitical uncertainties” as factors impacting results. Rivian forecasts production of 57,000 vehicles in 2024 — about the same as the 57,232 vehicles manufactured in 2023. Meanwhile, Lucid predicts production of 9,000 vehicles...

NEW ENGLAND GRID NEEDS: New England’s grid operator warned that the region will need to invest nearly $1 billion in its electric transmission infrastructure per year through 2050 to avoid capacity shortfalls and handle the rising power demand—especially as wind and solar make up a rising share of its energy mix. Takeaways: The report modeled for several different demand scenarios through 2050. The low end of 51 GW could be achieved only if the region kept online some stored fuels like natural gas and oil—which is almost a certain impossibility, given the emissions reduction targets passed by several of the...

Maine’s Department of Education is reportedly urging school districts to stop using taxpayer-subsidized electric school buses that were purchased within the last year. The districts reported problems with the new buses, which were supplied by Canada-based Lion Electric Co., last fall ... The windshields on the buses would leak whenever it rained, as the glass didn’t appear to be securely in place. concerns about mixing electricity and water from the leaking windshields led them to stop driving some of the buses. The buses, which cost about $345,000 each, were also sold with misaligned or incorrect lettering on the sides, and...

BMW is introducing a trial fleet of the BMW iX5 hydrogen car throughout the world, including South Africa. The company views hydrogen cars as an addition to battery-electric vehicles (BEVs), not as a rivalry between the two technologies. The iX5 Hydrogen pilot fleet is not meant for commercial use, but the German automaker has begun testing hydrogen-powered cars in South Africa. The hydrogen car trial was revealed during the regional meeting of the Hydrogen Council in Sandton, Johannesburg. BMW has revealed that it will begin testing in collaboration with Anglo-American Platinum and Sasol. The Sasol BMW Fuel Cell Electric Vehicle,...

Rapid adoption of electric vehicles and low-carbon energy would dramatically improve children’s respiratory health in the United States, according to a new report released Wednesday by the American Lung Association. If the U.S. meets three targets — 100 percent zero-emission passenger vehicle sales by 2035, emission-free truck sales by 2040 and a fossil-fuel-free electric grid by 2035 — it could prevent 2.79 million total asthma attacks among children, 147,000 pediatric bronchitis cases and over 500 infant deaths by midcentury, the organization found. “Curbing pollution from transportation and energy production is key to cleaning our air and protecting our nation’s children,”...

A full-size van replacement and a Ford Maverick competitor—both of them EVs—have been canceled. * Sources tell us plug-in hybrid versions of the Chevrolet Silverado and GMC Sierra are headed to market, in a hurry. * General Motors had been fully committed to all-electric pickups, but problems towing and hauling heavy loads have made EV pickups less attractive to traditional truck buyers. * GM’s change in plans creates uncertainty for Detroit’s Factory Zero, which has been retooled solely for production of battery-electric vehicles such as the GMC Hummer (pictured above). ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ While zero-emissions enthusiasts wait for mass production of General...

The system, if introduced, would likely feature on the Charger Daytona, with EV muscle cars highlighted in the patent Performance EVs have proved to be quicker to 60 mph than the vast majority of the ICE alternatives, more refined by virtue of having fewer moving parts, and more pliable, offering instant power and torque. However, there’s one thing that even the most die-hard electric zealots will struggle to argue against: when it comes to emotion and character, an EV powertrain can’t harness the same characteristics that make a great ICE so unique. Or can they? If you’re an engineer at...

Michigan autoworkers are worried that President Joe Biden’s policies pushing for a transition to electric vehicles (EV) will cost their jobs, according to The New York Times. Some autoworkers represented by the United Auto Workers (UAW) union are not pleased with the president’s support of EVs due to the products needing less manpower to produce, which could eliminate tens of thousands of jobs not just in manufacturing, but also in supporting services like insurance and trucking, according to the NYT. Biden has made union support a key part of his campaign and presidential policy, but his push to have half...

President Joe Biden is reportedly preparing to ease its push to force electric vehicles onto American consumers as consumer demand for the vehicles remains low, dealerships have expressed serious concerns, and automakers have had to cut production and revamp production of gas vehicles. The New York Times reported that the move was a “concession to automakers and labor unions” from the administration as it was forcing “limits on tailpipe emissions” to force Americans to switch from gas-powered cars to more expensive electric vehicles — which often have performance issues in adverse weather conditions. The serious lack of charging stations, and...