AD #3198 – Nikola to Pay for Misleading Statements; Byton Probably Won’t Survive; AWS Could Be More Popular on EVs
November 5th, 2021 at 11:48am
Listen to “AD #3198 – Nikola to Pay for Misleading Statements; Byton Probably Won't Survive; AWS Could Be More Popular on EVs” on Spreaker.
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Runtime: 9:47
0:07 Nikola Working to Settle with SEC
0:45 Byton Nearing Bankruptcy
1:25 Canada Would Respond if U.S. Passes EV Proposal
2:52 New Acura MDX Type S Launching Soon
3:40 Ford Tests E-Transits with Customers
4:40 AWS Could Be More Popular on EVs
6:36 Volkswagen Performance Car Impressions
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NIKOLA WORKING TO SETTLE WITH SEC
EV truck startup Nikola says its nearing a deal with the U.S. Securities and Exchange Commission. It’s likely to pay a $125 million fine to settle charges that its former founder, Trevor Milton, made misleading statements about the company’s technology. Nikola expects to pay the fine in installments over the next two years and it also plans to seek reimbursement from Milton. The settlement still needs approval from SEC commissioners. But despite the turmoil, Nikola claims it expects to deliver up to 25 trucks to customers by the end of the year. We’ll see.
BYTON PROBABLY WON’T SURVIVE
And speaking of struggling EV startups, Nikkei Asia reports that Chinese EV startup Byton is nearing bankruptcy. The company suspended worker payrolls and also idled production because it’s about to head to court to start bankruptcy hearings. The company has several prominent backers including Foxconn, Chinese automaker FAW and the Nanjing government but sources say they’ve lost interest in supporting Byton and in Foxconn’s and FAW’s case, they’re moving forward with their own EV plans. So, as of now, it looks very unlikely that Byton will survive.
CANADA WOULD RESPOND IF U.S. PASSES EV PROPOSAL
Last week, the Canadian government slammed the Biden Administration’s EV credit proposal to give an extra $4,500 to union made cars in the U.S. Canada’s trade minister said the extra incentive would have a negative impact on Canadian manufacturing and would also harm U.S. workers since the country’s supply chains are deeply integrated. And now Canada is doubling down on its criticism and says it would respond “appropriately” if the U.S. approves the proposal. The House of Representatives could vote as early as today on the measure. But Canada isn’t the only one pushing back against the extra tax credit, a group of 12 foreign automakers sent a letter to Congress urging it to drop the proposal and Tesla has also criticized it.
NEW ACURA MDX TYPE S GOING ON SALE
The new Acura MDX Type S is going to start hitting dealer showrooms next month. We’ve touched on this model briefly before, but let’s go back through the highlights. Under the hood is a turbocharged 3.0L V6 that makes 355 horsepower and is mated to a 10-speed automatic and standard AWD. Other upgrades include an adaptive air suspension system, exclusive damper tuning, larger Brembo front brakes, 21-inch wheels with performance tires as well as a number of unique design elements. Acura says the Type S will be the fastest and best-handling MDX ever, but it comes at a cost. It didn’t reveal exactly, but says pricing starts in the high $60,000 range.
FORD TESTS E-TRANSITS WITH CUSTOMERS
Ford is nearly ready to start making its electric Transit van and so it’s handing out pre-production models to select customers to test in their fleets. They’ll use the vans in a number of specific applications, like for rental, delivery or maintenance, to evaluate vehicle performance, identify the best driving routes for an EV and test charging. And they’ll do this connected to Ford’s fleet management system, called Ford Pro. So, not only will customers learn how EVs fit into their fleets, but Ford will learn how its customers use the electric van. And to help tackle any line of work, the E-Transit comes in 8 possible configurations, including three roof heights and three lengths, plus chassis cab and cutaway versions. Production will begin later this year at Ford’s Kansas City Assembly Plant, where the ICE Transit is made too, and sales are slated to kick off early next year.
AWS COULD BE MORE POPULAR ON EVs
Range is still one of the top bragging rights for any EV, so in order to get as much range as possible, engineers are stuffing as many battery cells as they can into a vehicle. And that’s causing wheelbases to increase significantly. For example, a Hyundai IONIQ 5 is practically identical in overall length to a Hyundai Tucson, but its wheelbase is nearly 10-inches longer.
While that’s good for range, longer wheelbases do have at least one negative effect on vehicles, decreased maneuverability. That’s why we think you’ll see more EVs with rear-wheel steering, like the Mercedes EQS or GM’s large Ultium vehicles. And probably a good reason why ZF is making its rear steering system even more capable. AKC 2.0, as it calls it, is now able to turn rear wheels up to 10-degrees, which is going to greatly improve turning radius and high speed stability.
VOLKSWAGEN PERFORMANCE CARS IMPRESSIONS
We just got the chance to get behind the wheel of Volkswagen’s performance cars, the Jetta GLI, the Golf R and the Golf GTI. Let’s take a look at the GLI first, which gets a slight refresh for the 2022 model year.
It features new front and rear bumpers, a redesigned grille and new colors and wheels. It now comes standard with VW’s Digital Cockpit and new driver assistance technology is available. Powering the GLI is the same 228 horsepower, 2.0L turbocharged four-cylinder as before. It’s mated to a six-speed manual or a 7-speed dual clutch transmission. We drove the DCT. And while the Jetta GLI isn’t as sporty as the Golf models, it’s still a fun car to toss around. The Jetta GLI starts just under $32,000, more than $10,000 higher than the standard Jetta.
Next up is the all-new Golf R. Under the hood is a 315 horsepower, 2.0L turbocharged four-cylinder, that can be matched with a six-speed manual or a 7-speed DCT. We drove the DCT and wow what a powerful car. It also features six-driving modes, which are pre-programmed to have different steering and throttle response. Its all-wheel-drive system with rear-torque vectoring lets you really carve through the corners. The Golf R is only available in one fully-loaded trim that starts around $44,600 for the manual and about $1,000 more for the DCT.
And last but not least is the Golf GTI, our favorite of the bunch. The new model is powered by an updated version of its 2.0L turbo four-cylinder engine, which now produces 241 horsepower and 273 lb.-ft. of torque. The engine can be mated to a six-speed manual or a 7-speed DCT. We drove the manual. The handling is great and you feel firmly planted while behind the wheel. Clearly not as powerful as the R, the GTI is still plenty fun to drive and is more practical as an everyday driver. It’s also not nearly as expensive as the R, the GTI starts just over $30,000.
But that’s it for today, thanks for joining us and have a great weekend.
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Comments (33)
November 5th, 2021 at 12:38 pm
So another Chinese EV start up bites the dust.
AWS more popular but is there a difference in cost of an alignment with AWS?
November 5th, 2021 at 12:42 pm
AWS, another case of complexity for complexity’s sake, except for very long vehicles, like ladder trucks.
November 5th, 2021 at 12:59 pm
@Lambo – I have no experience aligning a vehicle with AWS but I would imagine making small adjustments is easier with AWS. Toe in/out is the most common adjustment when doing an alignment and the tie rods on the rear-steering system would make that easier to adjust. It’s possible I’m not thinking of something and I welcome the input from other commentors.
November 5th, 2021 at 1:01 pm
Americans don’t want to hear it, but the US is known around the world for signing treaties with other countries and then ignoring them or breaking them. In Canada’s case, the softwood lumber treaty and the ‘under the strait’ pipeline right of way in Michigan are 2 long standing examples. The usual excuse is that ‘federal’ treaties can be broken by individual states, but the EV proposal would be the first federal group breaking a federal treaty. (USMCA) Bottom line: no one trusts the US to stick to a signed treaty.
November 5th, 2021 at 1:38 pm
4 Yeah, the US can’t be trusted to honor agreements, because when there’s a new president, past agreements mean nothing. With Trump, the Paris and Iran agreements were the most publicized abandonments, but also, he abandoned arms control agreements, pulled out of UNESCO, and more. Now, there is this issue with New NAFTA. I suspect the extra $4500 will not stay in the bill, but there is ample reason for the international community not to trust the US.
November 5th, 2021 at 1:40 pm
#1 lambo , there are over 300Chinese auto co.s to cull from, I’ve been saying this for years,Tesla was allowed in without JV to cull the herd, most auto companies are state run there and are locally financed by local govts, the National govt does not want to get involved as it is all politics,China auto analyst and often times AD guest Michael Dunne has didcussed this in AD,
Geely is private owned, BYD is also and so is XPeng I think, these are the Chinese Auto to watch for and are leaders in their class, These are Teslas competition in China and they are coming to Europe or are already there, BYTON ex CEO is now CEO of Faraday, and has a very slim chance of success.
November 5th, 2021 at 1:58 pm
4&5 – The yo-yo of US policies stems from the “political divide” and pre-dates The Donald. Including the present administration, we now have 5 administrations that used executive orders when they couldn’t (or wouldn’t) gain bi-partisan support in the legislative branch. Only the most naive of the world’s leaders know presidential executive orders lack a solid foundation and are subject to change with the next administration.
November 5th, 2021 at 2:03 pm
That $4,500 Union subsidy is DOA , trade contracts signed with the US Govts are not worth the paper they are signed on , succeeding govts will tear them up and write a new one in their favour.
November 5th, 2021 at 2:06 pm
Tesla was not recruited to cull the herd of Chinese EV makers. They were just the first company to take advantage of China’s change in policy that foreign automakers no longer had to have a Chinese company majority partner. I don’t blame Elon for not wanting a Chinese partner. The change in policy came along at a good time for Tesla since their sales were minimal due to the heavy tariff China tacks on to imported vehicles.
November 5th, 2021 at 2:09 pm
Regarding all wheel steer, I can see why the high speed, in-phase handling stability can benefit heavy weight BEVs. But the low speed, opposite phase maneuverability should not be a critical need on a BEV… as the relatively open space in the front end of a BEV should enable sharper wheel cut angles.
November 5th, 2021 at 2:23 pm
#9 you have to read between the lines, those who cannot compete VS Tesla will go BK, or forced to join a more profitable company, they have to make good and desirable cars with profits , not subsidies , the Wuling MiniEV will not make it to the West, maybe in some 3rd world and Developing country
We will see how successful GM will be with its Caddy in China, the Chinese like their MIC Buicks, the car that the Last Emperor drove.
November 5th, 2021 at 2:54 pm
11 At some point, Tesla will need to sell mass market cars, if they want to “take over the world.” The $35K Model 3 now costs about $47K, and the cheapest Model Y costs about $60K. Those prices are for a white car with black vinyl seats. Other paint colors, or white seats cost extra.
November 5th, 2021 at 3:13 pm
None of the sub 35MPH small EVs will likely account for much in the US. Some company may buy a few to sprinkle within a few major cities.
China has at least two cities that have more people than not just NYC but the whole state of NY. They are much more densely populated and what works there isn’t exactly going to work here. For any EV to do well here in the states it will need to be capable of at least 70mph and most likely have seating for 4.
Although I would buy a 2 seater trike EV for a go to work car if the price was right.
November 5th, 2021 at 3:51 pm
#12 Tesla in Shanghai has been tasked to come up w/ the Baby Tesla, a Civic / Corolla fighter, chances are it will have a LFP battery pack good for 200 real miles in most of the Southern States, but it might have 160 miles in colder climes as LFP is a bit challenged in cold, but it seems Tesla has done a software upgrade to fix some of the SR mod3 w/ LFP chemistry, that model incidentally is sold out into 11 months from now, the demand is insane, now imagine a “Civic / Corolla killer”@$25-$,30,000 ,andvgasoline @ $1.50/ literroughly $5.00 +++/gallon
November 5th, 2021 at 4:02 pm
#12 kit Civics are popular in the GTA, Ontario, where they are made in Aliston, just NW of Toronto and go for $25-30 000 , need 50 liters / tank@$1.50 liter , Teslas fill approx $20./ “full tank”@ home, and cheapest @ midnight with TOU metering
November 5th, 2021 at 4:39 pm
14 If that smaller, less expensive car is a hatchback with 60+ inches of floor, I might be interested, as a car to use in Indiana, where I’d have home charging.
November 5th, 2021 at 5:28 pm
#16, kit, IF there is demand in North America i do hope Tesla makes it or imports it, for sure Tesla will make or export that small Tesla to Europe, markets in Canada are a little different than US due to our gas prices much more expensive, most gas here is refined in the US, oil exported, then refined then piped back ,I think, Quebec has lowest price of Elec.(Hydro)and quite high gas prices, 5 cents/liter more than Ontario i think.
November 5th, 2021 at 7:58 pm
17 As long as gas is cheap in the US, people will keep buying huge trucks to drive to work and get groceries at Walmart. If gas were $8/gallon, probably Toyota would sell what I’d like as a “do everything” car, a Camry hybrid hatchback or wagon.
November 6th, 2021 at 2:01 am
#18 kit , The publics response to the Ford Maverick seems to be very favorable, if they can build and sell @$20,000to $35,000, that is a do everything car, being based on Escape platrorm chassis , I think Toyotz will have their version, off a Rav4 platform, but Rav4 Prime plug-ins are already $40,000 & up, Ford has a winner in the Maverick.
November 6th, 2021 at 2:01 am
#18 kit , The publics response to the Ford Maverick seems to be very favorable, if they can build and sell @$20,000to $35,000, that is a do everything car, being based on Escape platrorm chassis , I think Toyotz will have their version, off a Rav4 platform, but Rav4 Prime plug-ins are already $40,000 & up, Ford has a winner in the Maverick.
November 6th, 2021 at 4:51 am
To my knowledge, making the Chinese EV landscape more competitive was actually a prime consideration in facilitating the Tesla Gigafactory’s establishment.
It’s official “communist” government policy to winnow the massive number of local firms down to a few winners capable of growing internationally. Europe is already seeing the influx of Chinese vehicles from this more successful second wave.
Station Wagons are so out of fashion that the style must be poised for an imminent return. Or will it be crossovers like the ID5? Next up, glaringly impractical two-door CUVs a la AMC Eagle Kammback.
A longer wheelbase improves the ride. It’s to be expected that the big suppliers will find means to recoup some of the losses due to the switch in motive power, and all-wheel steering can be useful in Europe.
I stumbled across a youtube video about the first VW ID.3 visit at Tesla’s Tilburg (NL) Supercharger. Helps one understand why they don’t need to advertise.
While I favor a revenue-neutral levy on greenhouse gases in order to keep government from micromanaging the emerging new energy landscape, a sensible tax credit for US (or NA) built battery-packs (including cells) would incentivize the creation of a domestic supply-chain, which is vital for the long-term health of US industry.
I am of two minds concerning Tesla’s massive orders and exports of Chinese LiFe(PO4) cells.
November 6th, 2021 at 8:09 am
19,20 The hybrid version of Maverick would be a great do-everything car, if they’d make a wagon or van version of it. A truck with a 4 1/2 foot bed, not so much, at least for me. To be useful at all, it would need a bed cover of some sort. If they made a van or wagon version, it would be very roomy, with the 200 inch length.
November 6th, 2021 at 8:13 am
21 I haven’t been to Europe in about 12 years, but aren’t station wagons/estates like Passat, C-Class and others still popular there, or are the thirstier, lifted CUVs replacing them in large numbers?
November 6th, 2021 at 9:38 am
23 Kit – The craze for CUVs has taken hold in Europe too. Every size is represented, though obviously biased more towards smaller vehicles. And yes, wagon/sedan/hatchback sales have suffered as a result.
See carsalesbase.com/european-sales-2021-first-half-small-crossovers/
November 6th, 2021 at 10:27 am
#22 kit,Im semi retired but I still take on small construction projects needing 4× 8 drywall and lumber for self and customers, I use my 2009 CRV like a truck for almost all of the jobs and rent Uhaul when needed,3-4 times a year,a Maverick would be all I would ever need, a real DIY trucklet,a base CYBRTRK is my dream, and probably overkill, but the SSteel body would make it the last vehicle for me as it would last forever.#23 after you have gone to CUV from a car @ my age there ain’t no going back if possible ,ease of entry and exit the prime excuse,the 75 to 85 yr old folks I got the CRV from went from a Honda Accord to the CRV,
November 6th, 2021 at 11:10 am
#9 Gm vet, #23,Sean, You have to look @ the big picture and watch and study and listen to folks who spent time and worked in the industry in China, like Michael Dunne , CEO of ZOZOGO ,a former GM indonesia president before going to China and living / working there for years, like in the early 90s, when China had no car making capabilities… Think of JV as means of Transfer of Technologies
The Western JV with Chinese locals was to teach them how to make cars , which they have now mastered, and are ready for the next Phase, bypass ICE and go BEVs and dominate in making them, but over 300 manufacturers is inefficient to the nth degree, those who cannot compete vs Tesla in China will be forced to amalgamate with bigger and more profitable companies, it already has started with Nio, who was seeking Loans for a factory, the Govt said No Loans, go venture with a Local Auto who has excess manufacturing capacity, and it did happen, This as Tesla was building its GIGA Shanghai,and was loaned 2 Billion and given generous leased land that used to be a farm. Today Tesla run rate in Giga Shanghai is @500,000 units a year,The 2 Billion dollar loan was just fully Paid last 3rd Qrtr and there are rumors of a second factory to build the Baby Tesla, the one for China and Europe markets, expect that announcement within 6-8 months from today.
FYI, Tesla Shorts bet that Tesla would fail in China , and the Chinese Govt and the Banks would Reposess that factory, and Tesla would lose all that investment, I think we know who won that bet.
November 6th, 2021 at 12:53 pm
25 I’m 75, and get in and out of a Cayman and a Corvette. Yeah, it would be easier with a CR-V. Midway between is a Camry.
As far as actual utility, nothing beats a van for most uses, though a pickup truck would be much better for horse dung, or something like that.
November 6th, 2021 at 6:55 pm
26 There were a lot of Chinese VW Santana taxis when I was in Shanghai in 1992. They were front drive with longitudinal engines and 4-speed manual transmissions. They were probably a lot like second generation Passats, called Quantum in the US.
November 6th, 2021 at 9:35 pm
#28 i had a 91 Passat ,i4 transverse engine,the early Audis had NS longitude engines the Chinese JV probably had hand me down technology, same as was done in Mexico and Brazil, the last air-cooled VW bugs were made in Mexico late 80s?,long after Germany killed it.
I had many Chryco minivans and a few full size one and one Sienna, all carried drywall and tools and even Triple mix from the garden center.
November 6th, 2021 at 10:33 pm
29 Curiously, Passats went from longitudinal to transverse, and back to longitudinal engine. I had a B5 2000 Passat wagon, which was longitudinal. Passats after that generation are transverse engine.
Does anyone here know if Audi A4s are still longitudinal engine?
November 6th, 2021 at 10:45 pm
29 The air cooled Beetles were built in Mexico until 2003.
November 8th, 2021 at 7:46 am
#31kit, Wow! Mexico allowed VW to pollute their air so much!, I remember reading somewhere VW Bugs being used as local taxi in Mexico, and I think some of the chassis pans being shipped to California to do Bug restorations.
I always thought that Audi A4s were transverse, I Googled and saw they are Longitudinal, A3 is Tranverse.
When I used to go to wrecking yards for salvage car auctions,Audi A6 very common write-off,even less tha 5 yrs old,if front end damaged as the engine sits @ the very front, even before the front axle,Turbo intercooler ,radiator,Engine timing gear,and Alternator were all damaged as a result, plus all the headlights and other stuff.
November 8th, 2021 at 8:52 am
32 The later Mexican air cooled Beetles, starting in the ’90s had fuel injection and catalytic converters, so would have been fairly clean.