AD #3070 – Dacia Reveals Low-Cost EV; Ford Considers 2nd MEB Car; Williams & ItalDesign Create Modular EV Platform
April 30th, 2021 at 11:54am
Listen to “AD #3070 – Dacia Reveals Low-Cost EV; Ford Considers 2nd MEB Car; Williams and ItalDesign Create Modular EV Platform” on Spreaker.
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Runtime: 9:40
0:08 GM Invests $1 Billion To Build EVs In Mexico
1:03 SEC Probes VW’s “Voltswagen” Stunt
1:48 Dacia Introduces Low-Cost EV In France
3:27 Ford Considers 2nd EV Off of VW’s MEB Platform
4:07 Jeep Offers Lift Kit for Wrangler 4xe
4:56 Williams & ItalDesign Create Modular EV Platform
6:22 Saudi Arabia Wants to Create Local EV Brand
7:02 BMW Launches Startup Sustainability Challenge
7:56 Free2move Expands U.S. Subscription Service
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GM INVESTS $1 BILLION TO BUILD EVs IN MEXICO
General Motors announced a 5th site for manufacturing EVs. It’s going to invest more than $1 billion in its Ramos Arizpe plant in Mexico to start building EVs in 2023. GM currently makes the Equinox and Blazer as well as engines and transmissions at its plants in Mexico, but did not say what electric vehicle it will be producing in the country. But the UAW sure isn’t happy with the news. Its Vice President called it a ‘slap in the face.’ We understand where the UAW is coming from, but three of GM’s five sites that will make EVs are in the U.S., while the other is in Canada. Our guess is, whatever vehicle GM makes in Mexico will be sold globally, including China. And that means it won’t face the same import tariff that it would if it were made in the U.S.
SEC PROBES VW’S “VOLTSWAGEN” STUNT
VW could be in some hot water over its “Voltswagen” marketing stunt. The automaker put out a press release days before April Fool’s Day, claiming it was changing its name in the U.S. to “Voltswagen.” But a day later it admitted the name change wasn’t true and was meant to highlight its transition to an electric car company. VW later apologized after receiving backlash. But now Reuters reports that the Securities and Exchange Commission has opened an investigation into the stunt. Both the SEC and VW declined to comment. While the company did receive a lot of media attention over the gag, it probably should have waited until April Fool’s Day to pull the prank.
DACIA INTRODUCES LOW-COST EV IN FRANCE
Not long ago we talked about how moving upscale could be a mistake for some automakers because it leaves the door open for someone to take over the bottom of the market, especially when it comes to EVs. We’ve seen China’s Hong Guang MINI EV, which starts at about $4,300, have great sales success because just about anybody can afford it. Now buyers in France have access to an affordable EV. The new Dacia Spring electric starts at 12,400 euro, including a 5,000-euro incentive. And like the MINI EV, it keeps things simple. No fancy materials or big wheels and tires. The battery pack is small at 26.8 kWh, which will probably provide a little more than 100 miles of range in the real world. And it’s not trying to set any acceleration records with a 33 kW or roughly 44 horsepower electric motor. But those things keep the price down and we think we’re going to see a lot more EVs like this.
FORD CONSIDERS 2ND VEHICLE OFF OF VW’S MEB PLATFORM
Last year, Ford and Volkswagen announced a deal to allow Ford to build an electric vehicle off of VW’s MEB platform. Ford will begin producing that model at its factory in Cologne, Germany in 2023. And now Bloomberg reports that the companies are in talks to allow Ford to build a second EV off of VW’s architecture. A formal announcement could happen in the coming weeks. After the initial deal, Ford said it expected to build 600,000 EVs off the MEB platform but it didn’t provide a time frame. But adding a second MEB electric to its portfolio will make it a lot easier to hit that target.
JEEP OFFERS LIFT KIT FOR WRANGLER 4xe
Jeep is making sure its plug-in version of the Wrangler, the 4xe, is as off-road ready as the gasoline and diesel-powered versions. With the help of Mopar, it just introduced a 2-inch lift kit for the model. The company claims it’s the first lift kit available for a plug-in hybrid vehicle. It includes four springs, four FOX shocks, front lower control arms, front and rear stabilizer links, front and rear bump stops, all of which all come in a custom, reusable crate with the Jeep Performance Parts logo. The setup costs $2,310. Mopar created even more accessories for the Wrangler 4xe and you can check those out by clicking the link in the transcript or description box.
WILLIAMS & ITALDESIGN CREATE MODULAR EV PLATFORM
Here’s an interesting EV partnership. Williams Advanced Engineering is teaming up with ItalDesign to offer high-performance EVs to anyone that wants them. The idea is that Williams supplies the chassis and then ItalDesign comes in and does the design. The composite chassis has a flexible wheelbase and was specifically designed to accommodate a number of body types, including sedans, convertibles, crossovers and grand tourers. It can be equipped with up to 1,000 kW of power and thanks to a structural battery pack, which has a capacity up to 160 kWh, it provides up to 1,000 kilometers or about 620 miles of range. The two companies say they’ll be able to support production runs of up to 10,000 units a year.
SAUDI ARABIA WANTS TO CREATE LOCAL EV BRAND
It seems like everyone wants to get in on the EV revolution and now you can add Saudi Arabia to the list. Bloomberg reports that the country is looking into creating its own electric car maker and has hired Boston Consulting to advise it. It’s part of a broader effort to build up an automotive infrastructure and increase local manufacturing. The country’s Public Investment Fund has also invested in EV makers like Tesla and Lucid. It’s not too surprising it’s interested in establishing its own EV brand since it’s so reliant on oil and many countries are moving forward with ICE bans.
BMW LAUNCHES STARTUP SUSTAINABILITY CHALLENGE
BMW is launching a competition for startups to help increase sustainability. Called the Open Call 360-degree Sustainability Challenge, startups can submit products and solutions in seven areas, including recyclable materials, sustainable supply chain, energy-efficient production, mobile intelligence, intelligent building management, customer centric mobility and sustainable technologies. There’s also a “wild card” option if a startup has an idea that doesn’t fit in those categories. Registration is now open and applications must be received by the end of June. Winners will be announced at the IAA Mobility in Munich in September and will gain access to BMW’s Startup Garage, which will help them develop their ideas.
FREE2MOVE EXPANDS U.S. SUBSCRIPTION SERVICE
Free2Move, which is Stellantis’ mobility brand, announced its expanding its subscription service in the U.S. to six states this year. It currently operates in LA. Automakers have had mixed results with subscription services, which allows customers to pay for a vehicle on a month to month basis. While it’s more expensive than leasing, it typically includes insurance, maintenance and roadside assistance. Volvo and Porsche have had success but others like Ford and Cadillac have had to “pause” or sell their services. But what makes Free2Move different is that it not only offers vehicles from Stellantis’ brands but also ones from competitors. It will be interesting to see if it has more success doing it this way.
But that’s it for today, thanks for watching.
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Comments (21)
April 30th, 2021 at 12:14 pm
Voltswagen stunt: Maybe I’m missing something, but it just seems to me people (or perhaps it’s corporations, regulatory agencies and the SEC) are just too darn thin skinned and easily ticked off. What is there really to “investigate”.
You know, if say Henry Ford had pulled a similar publicity stunt 100 years ago, something tells me people would have had a laugh and just gone on with their lives. But today companies are getting hauled before review committees for botched April Fools pranks??
As sleepy Joe would say, C’mon man!
April 30th, 2021 at 12:16 pm
1, MJB, I was thinking the same. Prank or not; what’s the big deal.
April 30th, 2021 at 12:42 pm
Does the UAW know that gm is still a multi-national corporation? They already show their patriotism by keeping their HQ in the USA when there are so many less expensive places they could be. If you criticize them enough, maybe they will go that route anyway.
April 30th, 2021 at 12:44 pm
@MJB – My guess would be the SEC is looking into whether or not the company or anyone at the company tried to profit off of it. Its shares did go up a bit after the ‘Voltswagen’ announcement.
April 30th, 2021 at 12:57 pm
Williams & ItalDesign modular EV platform may be what Jaguar is looking at or just what they need!
Sean, my thoughts were some what in line with yours in that, these EV start-ups/OEM’s that are chasing the ‘fastest, most powerful, gull wing door, etc.’, are missing out on those who want basic, reliable transportation that is affordable, but also like the EV promise! All that other adds to the cost and rises the price out of the hands of those who might wish to take to leap, all because the automaker wants some flashy tech.
April 30th, 2021 at 1:32 pm
Where are the “new age Henry Fords” in the US to produce a Model T BEV? Low cost, simple, and affordable. With new car prices pushing $40,000 average a low cost BEV for the average person could be a real hit. Let’s build it in the good old USA! Maybe a $14,999 entry level and a $19,999 fully equipped with 100 -150 mile battery.
April 30th, 2021 at 1:50 pm
Unless the feds outlaw ICE vehicles BEVs will be a second car in most families for daily use for decades.
April 30th, 2021 at 2:05 pm
Is that Williams of William F1 fame?
April 30th, 2021 at 2:07 pm
kevin at #3. If anything chases big corps out of US it won’t be from the UAW’s doing it will be the huge tax increases they are going to face under the current dictatorship in DC.
April 30th, 2021 at 2:10 pm
Free Million dollar idea:
Any one of these EV start up are really missing out. Designing an EV motor that could be coupled to a FWD and one for RWD ICE platform with small modular battery packs that can be plugged to each other so they are expandable and flexible to fit within a variety of spaces, would make a great aftermarket conversion. If somewhat affordable and flexible enough to be retrofitted into almost any old ICE. DIY or have a shop do the swap and tear out the old tank engine and trans for a new EV powertrain. Place the batteries where they fit best and this could be huge.
April 30th, 2021 at 3:11 pm
If VW faces too much flack about the joke, they could always slap a few Voltswagen badges on some ID4s and the falsehood goes away. It would no longer be a joke or a liability, just a limited run novelty that could even up their credibility. I would play it up and put signs up in the dealerships, too. It would be in line with their quirky sense of humor that they had back in the 70′s, and may even help sell ID4s.
April 30th, 2021 at 3:34 pm
10 That could work, if you don’t want too much range. Existing platforms don’t have that much space for packaging batteries, which is why the e-Golf that was sold for a while has only ~125 mile range. Existing vans, though, like my antique Caravan should have room for lots of batteries, but you’d need to stiffen up the suspension to handle the extra 1200 pounds.
In a few years, your retrofit idea, will probably appear in “show cars” that don’t need much range. In 20 years, probably most of the ’32 Fords at shows will have electric motors, rather than Chevy V-8s.
April 30th, 2021 at 3:36 pm
9 I doubt if Amazon will leave the US, even if some loopholes are plugged, and they have to pay taxes.
April 30th, 2021 at 3:58 pm
Well, if Amazon (and all the others) get taxed at a heftier rate, well guess who really gets to pay; yep, all us regular guys (prices will go up) and the little guy will be burdened disproportionately again.
April 30th, 2021 at 4:05 pm
14 Amazon hasn’t been paying corporate taxes at all some years, because of loopholes. If that is changed, it might hurt Jeff Bezos’s wealth a little, but I doubt that it would affect prices much. They do have some competition, and would need to remain competitive.
April 30th, 2021 at 4:24 pm
Corporate taxes were higher years ago, so what’s the big deal for them to pay a reasonable amount?
The only thing lowing taxes during the last adminisrtation accomplished was to make the top tier even wealthier. It did little to better the average worker. In fact, they were forced to work more hours due to the dismantling of labor laws.
So far the economy is doing very well, inflation is well managed and the market is quit stable.
Give credit where credit is due and some of you might find a little contentment for a change.
April 30th, 2021 at 4:42 pm
#4. Thanks, Sean. I guess that may be reason enough to investigate, but sheesh, would they also have investigated if the stunt had the reverse effect and cause stock values to plummet?
I still think it’s a bit of an overreaction action for the SEC – that is, unless they were tipped off by an insider.
April 30th, 2021 at 7:40 pm
#16 I remember Jimmy Carter , 1978 , 18% interest on home loans and super inflation. Biden / Harris are making it all come back. Wonder if they will revive Disco as well? Hmmm the way it plays out am looking forward to the savior Reagan to come after and fix it all.
April 30th, 2021 at 7:40 pm
#16 I remember Jimmy Carter , 1978 , 18% interest on home loans and super inflation. Biden / Harris are making it all come back. Wonder if they will revive Disco as well? Hmmm the way it plays out am looking forward to the savior Reagan to come after and fix it all.
April 30th, 2021 at 9:23 pm
18,19
1978 to ~1986 was great for my parents, financially, and ultimately for me. My parents inherited a little money in 1977, had no debt, and could get double digit interest with no risk. The CD returns were much higher than inflation, as it pertained to them, having no debt. Now, the only thing you can do with money and even keep up with the modest inflation involves risk, putting it in the stock market or stock-based funds.
If it “comes back” as you predict, I guess the important thing for me will be knowing when to sell all of my mutual and index funds, and buy CDs.
May 3rd, 2021 at 12:57 pm
I understand Dacia’s simple and less expensive approach to EV’s. it seems to me that range is the most important feature for EVs. I never understood the concentration on acceleration, particularly in regard to vehicles which are destined to be self driving. Don’t get me wrong I have several vintage and modern cars that break 0-60mph in under 4 seconds, but they are not driven when I am trying to get to work or the hardware store. They offer no nanny controls…I’m on my own.