Strategy & Innovation Newsletter | Edition 3 | 2024
Leapmotor reportedly to begin production of small EV at Stellantis plant in Poland
Leapmotor (HKG: 9863) will begin production of small EVs at a Stellantis (NYSE: STLA) plant in Poland, Reuters said in a report today, citing two people familiar with the matter.
Production of the Leapmotor T03 small car will start as early as the second quarter of this year, using so-called semi-knocked down (SKD) technique, which consists of turning partially assembled kits into finished vehicles, one person said, according to the report.
BYD aims for 1200-mile range with next-generation PHEVs
BYD is looking to break the 1200-mile range barrier with its next petrol-electric cars, which are set to adopt a fifth-generation plug-in hybrid system and a fourth-generation EV platform.
The new range-busting PHEV system, elements of which are expected to be revealed at the Beijing motor show in April, is an evolution of the Dual Mode (DM) system used throughout the current BYD line-up.
Rivian CEO RJ Scaringe says he's changing mindsets of what's 'possible in an electric vehicle'
A common complaint of electric vehicles is that they're too expensive. That's why Rivian, the electric carmaker from Irvine, California, just launched three new models to meet this "huge need in the market," according to RJ Scaringe, the company's founder and CEO.
"If you're in the market for a $45,000 EV, you have an incredible set of choices from Tesla. But in terms of really compelling options, there's not a lot there," Scaringe told ABC News shortly after the company debuted its R2, R3 and R3X models.
Honda and Nissan join forces on electric car technology to chase Chinese rivals
Honda and Nissan have put aside the “traditional approach” of fierce rivalry to join forces and work together on electric vehicle technology as Japan’s carmakers try to catch up with Chinese competitors.
The Japanese manufacturers will work together on technology for EVs, including components and software, after signing a memorandum of understanding on Friday.
Korea's Kia, Thailand in talks over building new EV facility, sources say
South Korean car maker Kia Corp (000270.KS), opens new tab is in talks with Thailand to build an electric vehicle facility in the Southeast Asian country, two government sources said on Tuesday, as the latter bids to be a top EV maker in the region.
Discussions are ongoing and focused on incentives sought by the carmaker from the Thai government, said the sources, who declined to be named as they were not authorized to speak on the matter.
How Ironic Is It That Stellantis Is Now Making A Profit On Plugin Vehicles?
Stellantis was one of the biggest laggards in electric cars for several years. Former Fiat Chrysler Automobiles CEO Sergio Marchionne kicked it off. He lobbied against electric vehicle and fuel economy regulations, and he even infamously told Fiat Chrysler Automobiles (FCA) customers to not buy the Fiat 500e at one point, claiming that the company was losing money on each sale (a misleading claim).
Toyota, Samsung accelerate toward better EV batteries
Samsung's SDI battery-making unit has announced it will start mass production of solid state batteries in 2027, and that the parts it pushes will have energy density of 900 watt-hours per liter (Wh/L), a figure lithium-ion batteries struggle to match.
Solid state batteries are also more resilient than lithium-ion affairs, which become less efficient over time and can also catch fire after even slight damage.
Insurance news
Here's Why Your Car Insurance Has Become More Expensive
Millions of vehicle owners have been shocked when opening their most recent auto insurance bills. Rates are up across the board, hitting $2,543 in 2024, which represents a 26 percent increase from 2023. CNBC and Bankrate reported on the rate increase, noting that some states and drivers have it much worse than others.
What’s behind the rapid increase in car insurance rates
New York, CNN — A lot has changed in the time since Gerald Ford was president and Steve Jobs and Steve Wozniak founded Apple. But here’s something that hasn’t changed much: the pace at which car insurance rates are rising.
Car insurance rates are up almost 21% for the 12 months ended in February, according to new Consumer Price Index data released Tuesday. The last time car insurance rates rose that much on an annual basis was 1976, not counting January, which saw the same annual rate increases.
Digital marketing and retail news
Dealers United Expands Automotive Services to Provide Full-Service Digital Solutions
SARASOTA, FL / ACCESSWIRE / January 31, 2024 / Dealers United has announced a major expansion to their product suite. To complement the company's industry leading social advertising campaigns, Dealers United will offer Search Engine Optimization (SEO) and Search Engine Marketing (SEM) solutions to attract and convert car shoppers.
Group 1 hires veteran automotive marketer as new CMO
Longtime automotive marketing Shelley Washburn has joined Group 1 Automotive, operator of 199 dealerships in the U.S. and U.K., as vice president of marketing and chief marketing officer.
Washburn’s automotive marketing and retail experience covers 30 years, most recently with automotive digital marketing firms Gulf States Marketing as president and Force Marketing as a strategic advisor.
Cazoo Switches Focus to Become ‘Pure Play’ Automotive Marketplace
The U.K. company plans to transition into a “pure play” automotive marketplace, Cazoo said in a Wednesday (March 6) news release, the latest example of an online car seller shifting its focus amid a tough economic climate.
“Transitioning Cazoo to a pure-play automotive marketplace business model leverages our key advantages: the nationally recognized and trusted Cazoo brand and the Cazoo eCommerce technology platform,” said CEO Paul Whitehead.
