Briefly | 23 Mar 2023
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Ford expects its EV business unit to lose $3 billion in 2023, with total losses of $6 billion projected from 2021-2023, though it aims to build 2 million electric vehicles by late 2026.

Tesla expects to lose the full $7,500 federal tax credit on its cheapest electric car, the Model 3 Standard Range, due to its battery cells being sourced from China, which would make it ineligible for the new tax credit program.

The Biden administration will release proposed guidance next week for the domestic sourcing requirements for EVs to qualify for the Inflation Reduction Act's clean energy incentives, which limit tax credits to EVs made using domestically produced minerals and batteries.

The Cadillac Lyriq has been released in China, and a sales team has been offering free test drives of the Lyriq at a Tesla Supercharger station in Shanghai to increase public interest.

Hyundai and Volkswagen's charging subsidiary Electrify America have agreed to provide two years of complimentary charging sessions to first-time owners of the Ioniq 6 EV at Electrify America's DC fast chargers.

Audi's Q8 E-Tron SUV has received an improved battery range, with maximum claimed ranges of 281 and 343 miles, up from 249 miles in the previous model.

Rivian is releasing a new Over-the-Air update that will allow owners to use Tesla's Supercharger Network with their Magic Dock, and the update includes a free one-year trial of TuneIn Premium, Plug and Charge functionality, and various other improvements.

Cupra plans to launch larger premium EVs targeting the North American market from 2028, and these vehicles will be based on the Volkswagen Group's SSP platform.

CATL has begun series production of its new Qilin battery system, which has the potential to power cars to a range of 622 miles and is promised to offer 622 miles of range in the Zeekr 001 model.

Tesla has opened many of its Superchargers in Europe for use by other electric car brands, increasing the number of approved stations significantly.

The used prices of Tesla's Model 3 vehicle have dropped by 21.5% since last year's peak and by more than $11,000 on average, due to Tesla offering discounts and the new federal EV tax credit.

Tesla is offering an Extended Service Agreement (ESA) to select S3XY models, extending specific coverage by up to 2 years or 25,000 miles, covering repair and replacement of parts needed to correct defects in materials or workmanship.

The proposed Electric Bicycle Incentive Kickstart for the Environment Act has the potential to encourage more people to switch from gasoline cars to e-bikes in the effort to reduce greenhouse gases and combat climate change.

Nissan Leaf owners in the UK were able to use their vehicles' batteries to store and return energy to the grid, and the potential for electric cars to contribute to the UK's energy security is enormous.

LEVC has reached a significant milestone of producing its 10,000th vehicle at their facility in Ansty, Coventry, UK, with the TX electric taxi sold in multiple global markets, representing more than 40% of all black cabs in London.

Umicore has received European Union approval for its joint venture with the PowerCo business unit of the Volkswagen Group, which aims to produce cathode active materials and precursor materials sufficient to meet an annual production capacity capable of powering about 2.2 million electric vehicles.