EV Startup Rimac Now Owns Bugatti | 05 July 2021

Show #1134.

 

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Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Monday 5th July. It’s  Martyn Lee here and I go through every EV story so you don't have to.

 

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- Volkswagen said Monday that it was giving up control of Bugatti, the storied automaker whose absurdly expensive hypercars are worshiped by aficionados but seemed incongruous at a company better known for economical Golfs and Passats. Bugatti, whose Chiron model starts at close to $3 million, will become part of a joint venture between Volkswagen’s Porsche unit and Rimac, a young Croatian company that has made a name for itself doing design and engineering projects for large carmakers.

 

- The deal undoes a major legacy of Ferdinand Piëch, who dominated Volkswagen for two decades and built the company into a global empire. Volkswagen’s purchase of Bugatti out of bankruptcy in 1998, long before it owned Porsche, was widely seen as an indulgence by Mr. Piëch with questionable business logic

 

- Oliver Blume, the chief executive of Porsche, acknowledged Monday that the deal removes a distraction for Volkswagen and allows the company to focus on more important tasks.

 

 Original Source : https://www.nytimes.com/2021/07/05/business/volkswagen-bugatti.html

 

 

- The company recently unveiled the Nevera, a hypercar powered by a 120kWh battery pack and four motors to achieve a staggering 1.4MW of power, which is about 1,914 horsepower. It can go from 0 to 60 mph in 1.85 seconds and has a top speed of 258 mph. The Nevera is expected to be the fastest sports car, a spot previously held by the Bugatti Chiron’s.

 

- Rimac’s meteoric rise from bootstrapping in a garage in 2009 to building supercars with one of the most desirable and well-known car brands demonstrates how electric vehicles are beginning to take over the luxury and sports car market. It’s not just about doing what’s right for the environment – it’s about pioneering speed in the future of automobiles. Along with this announcement, Rimac said it would separate the development, production and supply of battery systems, drivetrains and other EV components into a new entity owned by Rimac Group called Rimac Technology, which will work independently with other global car manufacturers.

 

- Mate Rimac will continue to hold his 37% share in Rimac Group, with Hyundai Motor Group holding the same 12% and other investors at 27%, according to a statement from the company. Porsche recently upped its stake in Rimac from 15% to 24%, but its total ownership doesn’t give It a controlling interest in the new EV company, the companies told FT.

 

Original Source : https://techcrunch.com/2021/07/05/vw-offloads-bugatti-to-rimac-to-form-new-ev-company-bugatti-rimac/

 

 

- The UK saw plugin electric vehicles take 17.2% share of the auto market in June 2021, up from 9.5% in June 2020. The Tesla Model 3 was the UK’s overall best selling vehicle (of any powertrain) in the month, with 5,468 units sold. Overall auto market volume stood at 186,000 units in June, down around 16% from long term seasonal norms.

 

- 10.7% full battery electrics (BEVs) and 6.5% plugin hybrids (PHEVs), which is a swing towards BEVs from recent weightings

 

- Full battery electric vehicles outsold old-school (non electric assist) diesel vehicles for the first time ever, selling 32% more volume. Old school diesels took just 8.1% of the market, their lowest score in decades.

 

- combustion vehicles (petrol plus diesel) were also at a new record low of 54.5% share, from 76.3% a year ago. They are on track to drop below 50% within the next couple of months.

 

Original Source : https://cleantechnica.com/2021/07/05/tesla-model-3-is-outright-bestselling-vehicle-in-uk-plugin-evs-take-17-2-share/

 

 

- In the UK, Volkswagen`s ID.3 and ID.4 models are now offered with configurable trim levels and a range of option packs across all derivatives. Under the new pricing, two more variants have become eligible for the Government’s Plug-in Vehicle Grant.  The new pricing strategy significantly affects the ID.3. Under the new pricing, two more variants have become eligible for the Government’s Plug-in Vehicle Grant, which brings the total to six. The ID.3 Family Pro and Family Pro Performance are now both priced just under the £35,000 threshold for the £2,500 grant. These models, now priced at £33,640 and £34,960 respectively. Of course now with their new grant eligibility, these prices fall to £31,140 and £32,460 OTR.

 

- the highly-equipped Max and range-topping Tour have been reduced by £3,800. The Tour boasts a 77 kWh battery and 340-mile range (WLTP, combined) and is priced from £38,800.

 

Original Source : https://www.electrive.com/2021/07/05/vw-drops-i-d-prices-in-the-uk/

 

 

- This new structure considerably increases the flexibility of the ID.3 and ID.4 in the customer’s ordering process. For example, previously it was not possible to configure an Augmented Reality Head-up display on any ID.3 model other than the Max and Tour. Now, a customer can choose any trim level and add the Infotainment Package Plus to receive the AR HUD, alongside the additional speakers that are part of the pack. Just as before, the different trim levels will still feature pre-determined packs as standard equipment, but now customers can choose to add additional packs to cater to their individual needs.

 

Original Source : https://www.vwpress.co.uk/en-gb/releases/4561

 

 

- Stellantis, the world’s fourth-largest car maker, will host its EV Day on Thursday and unveil more details around its electrification strategy. The company, formed earlier this year through the merger between Fiat Chrysler Automobiles and Peugeot, already has an electric-vehicle strategy, which it set out in April.

 

- The group has grown market share in Europe so far in 2021, accounting for 16.8% of new BEV registrations in the region from January to May, according to automotive analyst Matthias Schmidt. That puts it second behind Volkswagen — 25.7% — and ahead of the Renault-Nissan alliance with 12.3% and Tesla with 11.5%.

 

- BoA analysts expected Stellantis to deliver a “bullish message” on Thursday to make it clear to investors the company wouldn’t be left behind in the electric revolution. “In our view, the only thing that Stellantis has to do is to put the various puzzle pieces together and explain some more details on essential strategy items (i.e. on battery chemistries, cell technology, cost assumptions for the EV line up, differences in planning between North America and Europe, capex requirements, etc.),” they said.

 

- Stellantis is also reportedly set to announce plans to produce electric vans at its Ellesmere Port factory in northwest England.

 

Original Source : https://www.marketwatch.com/story/the-stellantis-ev-day-is-coming-heres-what-to-know-11625491119

 

 

- Volvo Group, Daimler Truck and Traton Group have signed a  non-binding agreement to install and operate a high-performance public charging  network for battery electric heavy-duty long-haul trucks and coaches in Europe. With plans to start operations in 2022, the partners intend  to invest together 500 million Euros to install and operate at least 1,700  high-performance green energy charging points close to highways as well as at  logistic and destination points, within five years from the establishment of  the joint venture (JV).

 

- The future JV is planned to operate under its own corporate identity  based in Amsterdam, Netherlands.

 

- Battery electric vehicle fleet operators will be  able to leverage both fast charging tailored to the 45-minute mandatory rest  period in Europe focusing on long-distance transport—the highest priority of  the future JV—and also charge overnight.

 

Original Source : https://www.fleetowner.com/emissions-efficiency/electric-vehicles/press-release/21169044/volvo-daimler-and-traton-to-develop-charging-network-for-heavyduty-trucks-in-europe

 

 

- CNEVPost published in June that the deal Tesla made with CATL to extend their LFP contract up to 2025 would include sourcing these cells to the Model Y. Deliveries for the electric crossover with these batteries would start in July.

 

When we check Tesla’s website about the Model Y Standard Range for Hong Kong, the company says that deliveries will start in September. The estimated range for the vehicle is higher than that for the Model 3 Standard Range Plus, which would achieve 448 km (278 mi).

 

- That’s a 10% increase compared to the Model 3 SR+ value.

 

- Although the Model Y Standard Range for Hong Kong could confirm the LFP rumors, the price and range differences suggest that Model Y Standard Range may have 2170 cells. However, if that is the case, Tesla could also offer this derivative in the US.

 

- Another feasible explanation for the disparities is that Tesla developed a larger LFP battery pack for the Model Y.

 

Original Source : https://www.autoevolution.com/news/tesla-model-y-standard-range-for-hong-kong-may-confirm-lfp-use-rumors-164650.html

 

NEW CITROËN Ë-SPACETOURER GETS £14K DROP

Original Source : https://evobsession.com/new-citroen-e-spacetourer-range-pricing-specs-in-the-uk-entry-level-model-attracting-2500-plug-in-car-grant-picg/

 

WILL THE AUDI E-TRON GT FACE THE SAME RECALL ISSUES AS THE PORSCHE TAYCAN?

Original Source : https://www.quattrodaily.com/will-the-audi-e-tron-gt-face-the-same-recall-issues-as-the-porsche-taycan/

 

 

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