Listen to “AD #3535 – U.S. and Japan Reach Battery Deal; Hyundai Could Open Own U.S. Charging Network; Tesla Berlin Production Up 25% in 1 Month” on Spreaker.
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Runtime: 9:12
0:00 U.S. & Japan Reach Battery Minerals Deal
0:55 U.S. New Car Sales May Only Increase Slightly
1:56 NIO Opens Next-Gen Swapping Station
3:12 Hyundai Could Open Own U.S. Charging Network
3:54 New Renault Espace Goes from Van to SUV
5:03 Ford Thinks More EU Customers Want to Go Off-Road
6:46 Fisker Starts EU Deliveries Soon
7:21 Tesla Increases Berlin Production 25% in 1 Month
7:59 VW Slow to Increase ID. Buzz Production
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U.S. & JAPAN REACH DEAL ON BATTERY MINERALS
Good news for Japanese automakers. The U.S. and Japan reached a deal on EV battery minerals that paves the way for Japanese OEMs to access the $7,500 tax credit for electric vehicles. The deal is aimed to reduce reliance on China for battery materials and it prevents the U.S. and Japan from imposing export restrictions on the minerals. The Treasury Department will issue its final rules for what EVs qualify for the credits on Friday. And despite this new deal, the Treasury Department still has final say on whether Japanese made EVs and batteries will qualify for subsidies. But Japan’s trade minister said he expects they will meet tax exemption requirements under the Inflation Reduction Act.
U.S. NEW CAR SALES MAY ONLY INCREASE SLIGHTLY
Cox Automotive presented its quarterly report yesterday and here are some of its key findings:
– New car sales will hit 14.2 million in the U.S. this year, only 3.3% better than last year.
– Sales of electric vehicles will top 1 million units, which will be a first. And Tesla’s sales will be up nearly 40% in the first quarter.
– Delinquencies and repos have gone up recently, but they’re still extremely low. One reason is that the people who got car loans over the last three years have much better credit.
– Even so, high car prices are forcing lower income people out of the new car market.
– And here’s the real shocker. In 2012 over half of all the vehicles in dealer showrooms cost less than $30,000. Today, it’s only 14%. Back then, only 6% of cars and trucks cost over $50,000. Today’s its 39%.
NIO OPENS NEXT-GEN SWAPPING STATION
While other automakers have dismissed battery swapping, Chinese automaker Nio continues to develop the technology and is now rolling out its next-gen battery swapping station in China. Called the Power Swap Station 3.0, it can hold up to 21 battery packs, which allows it to swap a battery in less than five minutes and lowers the cost of the swap. The company is aiming to have 2,300 swapping stations globally by the end of the year. It currently has 1,300 in operation. And while Nio continues to invest in swapping, experts say it likely won’t become widespread unless the batteries become standardized.
HYUNDAI COULD OPEN OWN U.S. CHARGING NETWORK
Automakers are starting to follow Tesla’s lead in opening their own charging networks. Back in January, Mercedes announced it will open its own network in North America, Europe and China. And now Wards Auto reports that Hyundai is considering its own charging network in North America. The automaker already operates one in South Korea in partnership with SK Networks. Hyundai’s VP of Product Planning says it would also partner with other companies if it opens a network in North America. And it’s also considering asking its dealers to build EV chargers at their locations that could be open to the public or only Hyundai customers.
RENAULT ESPACE GOES FROM VAN TO SUV
Renault revealed the all-new Espace, which first launched in the best year ever 1983 and is now in its 6th generation. But it no longer has minivan styling. For the first time ever it’s an SUV. And because of that it’s actually a little smaller than the outgoing model and 215 kilograms or about 475 pounds lighter. Even so, it has seating for 5 or up to 7 passengers with an optional 3rd row. The design is similar to other new Renault models. They all share its signature C-shaped lighting, which is picked up on the front and rear of the vehicles. The interior is highlighted by large digital display screens for instrument cluster and infotainment, which is laid in portrait mode. And at first we thought that large piece on the center console was the gear shifter, but it’s really just a resting spot for your hand to make it easier to adjust the HVAC controls. The gear shifter is actually on the steering column. Renault says it will start taking orders for the all-new Espace this spring.
FORD THINKS MORE EU CUSTOMERS WANT TO GO OFF-ROAD
Ford is giving the Ranger a couple of new off-road variants for European customers. They’re called the Wildtrak X and Tremor, which some of you may recognize as a trim Ford offers here in the States for the Ranger, F-150 and Superduty trucks. Both feature the same setup. They come standard with Bilstein shocks, a wider track, more robust power steering system, underbody protection and an upgraded all-wheel drive system, which includes settings like Trail Turn Assist. This will brake the inside rear tire at low speeds to improve the turning radius, which is useful while off-roading and a feature Ford first started using on the new Bronco. Power comes from a 2.0L diesel that’s mated to a 10-speed automatic. The big difference between the two trucks is that the Wildtrak X is a little more upscale than the Tremor. It has more interior features, better exterior lighting, more intricate wheel designs and its own unique styling. Ford says the order books are open right now but deliveries won’t start until August.
FISKER STARTS OCEAN DELIVERIES IN EUROPE SOON
Fisker is gearing up to start deliveries of its Ocean electric SUV in Europe. And the company announced that it will have the longest range of any electric SUV available in the EU. The Extreme model can travel up to 707 kilometers or 440 miles on a full charge, based on the WLTP cycle. That’s up from its previous estimate of 390 miles. Fisker says it expects to receive European homologation by the end of April and will start delivering the Ocean soon after that.
TESLA INCREASES BERLIN PRODUCTION 25% IN 1 MONTH
Tesla is really cranking up production at its plant in Berlin. It’s now producing 5,000 Model Ys a week. That means Tesla can build 250,000 vehicles a year at the factory at that rate. In October 2022 it was producing 2,000 EVs a week. That jumped to 3,000 at the end of 2022. Last month it hit 4,000 cars a week and now a month later it increased production another 25%. Electrek reports the Berlin plant has been approved to build half a million vehicles a year and that Tesla is expected to add another model to produce in Berlin.
VW SLOW TO RAMP UP ID. BUZZ PRODCUTION
And while Tesla is rapidly increasing production in Berlin, production of Volkswagen’s ID. Buzz electric van is going a bit slower. The company says it has built 32,000 ID. Buzz’s so far, including both the passenger and cargo versions. But only 10,000 have been delivered and wait times have been extended until the third quarter. Overall, VW plans to make 44,000 ID. Buzz’s this year. But production will really ramp up next year when it phases out production of its T6.1 van at its plant in Hanover. Once that happens, VW will build up to 700 ID. Buzz’s a day, which is about 3,500 per week and an annual rate of 150,000 units.
But that wraps up today’s show, thanks for watching.
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