Tesla reports more than $1 billion in net income in Q2

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The latest Tesla earnings call reveals a tenfold increase in net income, meaning Tesla made over one billion dollars after expenses. The company also continues to produce at capacity, amid persisting global challenges and record demand for electric cars. Tesla reported $1.14 billion in (GAAP) net income for Q2 – the first time it has […]

Nidec aims for EV joint venture with Foxconn

Foxconn and Nidec have launched talks to set up a joint venture in Taiwan next year to accelerate electric vehicle motor production as the two Apple suppliers push further into the market. Nidec wants Foxconn to help make automotive its largest business driver – only there’s some way to go. Marketshare, nothing less. Nidec had […]

Lucid Motors plans to launch in Germany in 2022

California-based electric car startup Lucid Motors plans to begin delivering its cars in Germany next year, as the new Country Manager Roberto Russo, confirmed to electrive. Also in 2022, the Air sedan is to arrive in other European countries too. That Lucid was planning to enter the German market had been rumoured for a few […]

Schaeffler kickstarts e-axle production in China

Schaeffler has started series production of its so-called 2in1 E-axle in Taicang, China. The first Chinese car equipped with this product will be launched shortly. After the market launch in China, the axle will also be used by a European OEM, according to Schaeffler. ‘2in1’ means the system combines the reduction gearbox and electric motor […]

Caterham looks to release purely electric roadster

British specialist brand Caterham is looking to secure its future and is working on an all-electric Seven set for launch in the coming years. A debut is likely to coincide with the company’s 50-year jubilee in 2023, UK media report. Autocar suggests calling the model EV Seven, citing Caterham CEO Graham Macdonald, who said he […]

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MG Motor gets go-ahead for MG Cyberster roadster production

The British SAIC brand MG Motor confirms that it will build the MG Cyberster in series. MG presented the electric roadster initially as a concept at the Shanghai Auto Show in April. MG Motors now confirmed the production plans not in Shanghai but through the Weibo account of the parent company SAIC. Apparently, preparations for […]

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New 500 drive review: The little e-car that could mark 300km

The design is vintage, the electric drive contemporary: The New 500 is Fiat’s farewell to the dogma that small cars must have an internal combustion engine. Our author Christoph M. Schwarzer considers the new Cinquecento far ahead of the electric car competition. * * * It is possible. Fiat made the New 500 also known […]

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Lucid Motors appoints ex-Waymo’s Sherry House as CFO

EV startup Lucid Motors has made Sherry House the new Chief Financial Officer. She comes from Google’s autonomous driving company Waymo. Lucid also appointed new specialists in software and information technology as well as marketing. Namely, the appointments include Margaret Burgraff as VP of Software Validation; Sanjay Chandra as VP of Information Technology; and Jeff […]

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