Tesla’s Elon Musk questions Volkswagen’s Rivian investment

Posted on


Tesla CEO Elon Musk is questioning Volkswagen’s Rivian investment, asking about the German company’s financials after it committed to funneling up to $5 billion into the EV startup earlier this year.

Volkswagen said it would start with a $1 billion investment that could eventually swell into $5 billion as Rivian continues to work toward profitability.

After Ford and Amazon both started with investments in Rivian and either eliminated their stake (in Ford’s case) or lost exclusivity (in Amazon’s), VW stepped in and propped Rivian up with a major investment.

But there are questions surrounding Volkswagen’s stability. Earlier this week, reports circulated that the German automaker was considering closing factories in its home country for the first time as it is struggling to fend off pressure in Europe from Asian automakers.

The company’s works council said it vowed “fierce resistance” as Volkswagen considered two of its plants, one for vehicles and one for components, to be obsolete.

Volkswagen to invest up to $5 billion in Rivian

The company cut a job security program that has been enforced for the last 30 years. It also has its VW brand undergoing an $11 billion cost-cutting drive to save money by 2026, Reuters said.

That begs the question, if it is doing anything it can to cut expenditures, how is it planning to invest in Rivian.

Musk asked the same question:

Ideally speaking, Rivian is on the right track and is working toward profitability, which will make Volkswagen’s investment a good one. Rivian is continuing to grow in terms of vehicle deliveries and production, is working toward the release of its next platform, known as the R2, which will be more affordable and will, in theory, increase sales.

Still, Musk brings up a valid question: if Volkswagen is undergoing a major cost-cutting strategy and considering shutting down factories in its home country, would it truly be ideal to invest up to $5 billion?

Perhaps. According to Volkswagen, it had an operating profit of just over $25 billion last year, up 2.11 percent from 2022. Its revenue was $356.8 billion.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Tesla’s Elon Musk questions Volkswagen’s Rivian investment





Source

See the first non-Tesla EV to equip the NACS inlet for Supercharger ease

Posted on


The first non-Tesla electric vehicle to equip the North American Charging Standard (NACS) inlet is here, helping drivers plug into Superchargers without the use of an NACS adapter.

The 2025 Hyundai IONIQ 5 will equip the NACS inlet and will come with a Combined Charging System (CCS) adapter, marking the first non-Tesla EV to hit the market that won’t require an adapter to plug in at Superchargers.

The company decided last October it would adopt NACS.

Hyundai announced the change today as it launched the IONIQ 5, which will make its way to customers later this year:

“IONIQ 5 aims to further enhance customer satisfaction by being the first Hyundai model to come equipped with the Tesla North American Charging Standard (NACS) port. This port opens 17,000+ chargers on Tesla’s Supercharger network without using an adapter, doubling the size of the DC fast-charging network available to new IONIQ 5 customers. 2025 IONIQ 5 models also will be sold with a Combined Charging System (CCS) adapter. All-new or refreshed Hyundai EVs will come exclusively with a NACS port beginning in Q4 2024.”

This is a move that many automakers are planning to make in the coming years as they adopted the NACS port over the past year.

Tesla has the most robust EV charging network not only in the U.S. but on a global scale. The ease of access due to the availability of Superchargers across the country has helped push manufacturers to make this change.

José Muñoz, president and global COO of Hyundai Motor Company and president and CEO of Hyundai Motor North America, said:

“We’re continuing to give customers more of what they want by expanding the IONIQ 5 lineup with a dedicated off-road-capable XRT model, NACS port, design upgrades and a long list of features developed with customers in mind. The high-performance IONIQ 5 N shows how exciting EVs can be and has been a halo for our entire brand. We’re taking ‘America’s Most Awarded EV Lineup’ from strength to strength.”  

Built in the U.S. and Other Features

The 2025 Hyundai IONIQ 5 will pack several new features, including a bigger battery and more range, as well as an emphasis on modifications to both the interior and exterior.

There will be several trim levels: the Limited, SE, SEL, and XRT for All-Wheel-Drive vehicles, and an SE, SEL, Limited, and SE Standard Range for Rear-Wheel-Drive.

Interior changes include:

  • Redesigned HVAC controls
  • New center console with physical heated front seat controls
  • New steering wheel design
  • Heated rear seats (SEL and above)

Meanwhile, Hyundai is adding the following exterior changes:

  • Restyled front and rear bumpers emphasize IONIQ’s wide, confident SUV stance
  • New rear spoiler
  • New, more aerodynamic wheels
  • Available flush-type roof side rails

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

See the first non-Tesla EV to equip the NACS inlet for Supercharger ease





Source

Tesla’s fastest Superchargers make their way to a new country

Posted on


Tesla’s fastest Superchargers, known as the V4, have officially made their way to Canada for the first time, the company announced.

The first V4 Supercharger in Canada landed in Langley, British Columbia at a shopping center known as the Langley Bypass. There are 16 total stalls, and the site became active on August 30, Tesla Charging announced:

The expansion of the V4 Superchargers to Canada shows the automaker is not only expanding its industry-leading infrastructure on an international level, but the deployment of faster charging piles, especially outside the United States and Canada, makes the EV experience more efficient.

The V4 Superchargers first started rolling out in Europe in 2023, and introduced several new features, like the Magic Dock, which enabled non-Tesla electric vehicles to charge thanks to Combined Charging System (CCS) compatibility.

While charging speed capabilities topped out at 250 kW for the V4, the same as the previous V3 iteration, the current rating saw an over 30 percent increase in terms of amperage, going from 425 to 615. This was likely enforced to support 800-volt architectures, which will enable faster charging speeds despite the same kW rating.

Tesla V4 Supercharger details: Charging Speed and Cable Length

Tesla’s Supercharger network is among its biggest advantages when compared to other automakers. It has tremendous uptime, an evergrowing footprint across the globe, and fast charging speeds to cater to the multiple makes of EVs that now utilize them.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Tesla’s fastest Superchargers make their way to Canada





Source