Listen to “AD #3416 – Porsche IPO Off to Strong Start; GM Using New Battery Tech; Citroen Oli is Wild Lightweight EV Concept” on Spreaker.
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0:00 Porsche IPO Off to a Strong Start
0:45 U.S. Car Sales Expected to Rise
1:21 GM Collaborates on New Silicon Battery Tech
2:48 Cool EV Comes from Chinese Tuner
3:42 BMW Expects EV Sales to Increase Significantly
4:17 Bentley Expands Bentayga Hybrid Lineup
5:17 NIO’s 1st EU Battery Swapper Opens
6:14 Ram Gives 2500 HD The Rebel Treatment
7:25 Citroen Oli is a Lightweight EV Concept
8:29 Tesla Hikes Supercharger Prices in California
This is Autoline Daily, the show dedicated to enthusiasts of the global automotive industry.
PORSCHE IPO OFF TO A STRONG START
Porsche got off to a strong start in its first day on the market. Volkswagen launched the IPO of its luxury sports car brand with a market valuation of 75 billion euros. Its shares rose to over 82 euros, which increased its valuation to more than 77 billion euros. That’s just behind Volkswagen at 80 billion euros and ahead of competitors like Ferrari and Mercedes. It was also the biggest listing in Germany since 1996. VW is spinning off Porsche in part to help pay for its switch to electric vehicles.
U.S. CAR SALES EXPECTED TO RISE
Good news for automakers in the U.S. Car sales are expected to rise this month. A report from J.D. Power-LMC Automotive is projecting that sales will reach nearly 960,000 units, up 5.4% compared to a year ago. But the SAAR or seasonally adjusted annual rate is still projected to be a weak 13.6 million units. And third quarter sales are also expected to drop 4.2% from a year ago to just over 2.9 million units.
GM COLLABORATES ON NEW SILICON BATTERY TECH
General Motors announced it’s collaborating with OneD Battery Sciences to use the EV battery startups technology to make its Ultium battery cells smaller, lighter and more efficient. OneD has developed silicon nanotechnology that adds more silicon to the anode battery cells by fusing silicon nanowires into graphite. Silicon can store 10 times more energy than graphite. GM hopes it can integrate this technology into its Ultium cells in order to provide more range at a lower cost.
COOL EV COMES FROM CHINESE TUNER
Move over Porsche and make way for the SC-01. This good looking 2-seat all electric sports car is made by a mysterious automaker in China called the Tianjin Gongjiangpai (Gong-jang-pie) Auto Technology company. Never heard of them before? Neither has anyone in China! It’s a tuner company that decided to start making its own cars. And the specs look really promising. It weighs only 1,300 kilograms. That’s only 2,866 pounds. Two electric motors produce a combined 435 horsepower. Range is said to be 500 kilometers, or about 310 miles. Better still it starts at only $42,000. The company is taking reservations right now in China for just $30.
BMW EXPECTS EV SALES TO INCREASE SIGNIFICANTLY
BMW is really ramping up its EV sales. In the first half of the year, it sold nearly 76,000 fully electric vehicles. But by the end of the year, BMW’s chief financial officer says the company expects EV sales to reach between 240,000 and 245,000 vehicles. That puts it on target to reach its goal of EVs accounting for 10% of its sales this year. And by next year, BMW expects its EV sales to hit 400,000 units.
BENTLEY EXPANDS BENTAYGA HYBRID LINEUP
Bentley is expanding the Bentayga Hybrid’s lineup. The Bentayga S and Azure Hybrids feature a slightly larger 18 kWh battery pack, which increases torque of the 100 kW electric motor by 15% and power by 6%. When combined with a 3.0L V6 engine the system puts out a total of 456 horsepower, which is more than before, but performance is still the same 0-100 km/h with a time of 5.3 seconds. The S version adds a 15% increase to chassis stiffness and a sports exhaust system. The Azure on the other hand is all about quiet and comfort. It features more acoustic isolation and comes with Bentley 22-way adjustable seats. The new Bentayga S and Azure Hybrid are available to order in most markets right now.
NIO’s 1ST EU BATTERY SWAPPER OPENS
And a quick update on NIO. After announcing that its first battery swapping station for Europe had shipped off to Germany, the EV maker revealed that station is now up and running. It’s able to do 312 swaps a day and by the end of 2025 NIO says it wants 1,000 battery swapping stations outside of China.
RAM GIVES 2500 HD THE REBEL TREATMENT
Looks like it’s heavy-duty truck week. First it was Chevy, then Ford and now it’s Ram’s turn. It introduced the Rebel version of the 2500 pickup. Its style is pretty similar to the Power Wagon, but with a few differences, like unique badging and a Mopar performance hood. Under that hood is the choice of either a 6.4L HEMI V8 or an inline 6-cylinder 6.7L Cummins diesel engine. The V8 is mated to an 8-speed trans, while the diesel gets a 6-speed and the ability to tow nearly 17,000 pounds. The Ram 2500 Heavy Duty Rebel also gets a number of off-road goodies, including a rear limited-slip differential, rear electronic locker, 33-inch tires, skid plates and an available 12,000 pound winch. It will only be offered in crew cab configuration with a 6’4” bed and pricing will start at nearly $70-grand, including destination charges, when it goes on sale in the 4th quarter.
CITROEN OLI IS A LIGHTWEIGHT EV CONCEPT
I can’t remember another time that Citroen has been in our news cycle three times in one week, but it’s making headlines again today with the introduction of a wild-looking concept, called the oli [all-e]. It’s designed to meet future mobility needs and it’s taking a different approach than adding all kinds of technology to the car. Citroen is aiming for a target weight of 1,000 kilograms or 2,200 pounds by using body panels made of recycled cardboard. And because it’s so light it’s able to travel 400 kilometers or nearly 250 miles with a 40 kWh battery pack. Oli is also designed to last a long time, so many parts are identical, like the doors, bumpers, flat panels and glass, which makes it easier to repair, refurbish, upgrade and personalize. But the results are one wild concept that’s hard to tell if it’s coming or going.
TESLA HIKES SUPERCHARGER PRICES IN CALIFORNIA
Last week, Tesla hiked Supercharger prices in Europe and now it’s doing the same in California. Electrek reports that many stations are now charging more than $0.50 per kWh, which translates to a cost of $30 to charge 60 kWh. It’s still cheaper than filling a tank with gasoline but it’s getting expensive.
And that wraps up today’s show, thanks for watching.
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Seamus and Sean McElroy cover the latest news in the automotive industry for Autoline Daily.