Kia has announced pricing for its 2025 Niro EV, an electric crossover that offers a blend of efficiency, technology, and fast DC charging capabilities. The Niro EV comes with a 64.8 kWh battery, providing an EPA-estimated range of 253 miles. The 2025 model year brings several updates, including standard rear seatbelt pretensioners, a larger 10.25-inch instrument cluster, and advanced driver-assistance systems.
Albemarle, the world’s leading lithium producer, reported a net loss of $1.1 billion in the third quarter due to a slump in lithium prices. Despite a 16% increase in lithium sales volume, the company announced cost-cutting measures, including workforce reductions, to adapt to the market downturn. While facing challenges, Albemarle remains optimistic about the long-term prospects of lithium demand, driven by the growing EV market and potential support from the new US administration.
ChargePoint Holdings Inc (CHPT) shares tumbled 17% on Wednesday, following Donald Trump’s victory in the 2024 presidential election. Investors are concerned about Trump’s potential policy shifts that could undermine the electric vehicle (EV) industry, including infrastructure development crucial to ChargePoint’s business model.
Rivian and Lucid stocks took a major hit following Donald Trump’s presidential election win. Trump’s stance on electric vehicles, including plans to eliminate EV incentives and potentially modify emission standards, raises concerns for the future of these EV startups. The impact on their production costs, profitability, and even future model launches could be significant.
Chinese electric vehicle giant BYD has reported a remarkable surge in production and revenue, surpassing Tesla in quarterly sales for the first time since 2022. The company’s aggressive hiring strategy, adding over 200,000 employees in just three months, has fueled a near 200% increase in new energy vehicle production. This growth is driven by a focus on plug-in hybrid vehicles, with BYD producing over 800,000 units in the period.
Tesla’s highly anticipated Cybertruck is set to hit Canadian roads next week. This follows the successful launch in the US and Mexico, marking a significant expansion for the electric vehicle giant. The news comes from a user on social media who confirmed their delivery date, showcasing the growing excitement around this unique electric pickup truck.
Lucid Motors is gearing up to enter the highly competitive SUV market with its upcoming Gravity model. Orders for the Grand Touring trim, starting at $94,900, will open on November 7th. This luxurious SUV boasts impressive features including over 800 horsepower, a projected range exceeding 440 miles, and a spacious interior that can accommodate up to seven adults. However, the company’s stock has been struggling, and investors are eager to see how the Gravity will impact Lucid’s future.
Ford Motor Company’s stock took a nosedive on Tuesday after the company released its third-quarter earnings report. While Ford exceeded revenue and earnings expectations, the electric vehicle (EV) segment, known as ‘Model e’, continued to hemorrhage money, resulting in a significant loss. Despite cost reductions, the EV segment’s performance remains a concern for the company.
Shares of Ola Electric took a nosedive on Tuesday, falling below their initial public offering (IPO) price for the first time. The decline is attributed to weak sales figures, poor service, and increasing competition in the electric two-wheeler market. Experts warn of further potential declines as institutional and retail investors sell off their holdings.
Mullen Automotive’s (MULN) stock took a hit on Monday after the company announced that Bollinger Motors founder Robert Bollinger provided $10 million in non-dilutive debt financing to support Bollinger Motors’ production ramp-up and sales of the B4 Class 4 electric vehicle truck. The news comes amidst other developments, including the launch of Mullen Credit Corporation, a revenue target of $75 million, and a 20% headcount reduction.
