Nikola Founder Indicted On Fraud Charges | 30 July 2021

Jul 30, 12:02 AM

Today’s big EV stories: • GAC Aion with fast charging speed comparable to refueling • Ford Mustang Mach-E Mule Is Actually A Future Lincoln Electric Vehicle • Tesla releases big, new software update with Disney+ • Nikola Founder Trevor Milton Charged With Securities Fraud • Volkswagen earnings Q2 2021 • Volkswagen CEO: We Need to Change E-Car Approach in China • Panasonic's Q1 profit soars 27 times on robust demand for car batteries • Audi releases two more Q4 e-tron Vatiants • Plans submitted for £450m Nissan car battery gigafactory in Sunderland • More than 250 all-electric eCanter delivered

Show #1161.

If you get any value from this podcast please consider supporting my work on Patreon. Plus all Patreon supporters get their own unique ad-free podcast feed.

Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Friday 30th July. It’s  Martyn Lee here and I go through every EV story so you don't have to.

Thank you to MYEV.com for helping make this show, they’ve built the first marketplace specifically for Electric Vehicles. It’s a totally free marketplace that simplifies the buying and selling process, and help you learn about EVs along the way too.

GAC AION WITH FAST CHARGING SPEED COMPARABLE TO REFUELING

- Compared to the current fast-charging time of pure electric models, which takes 30 minutes to recharge to 80% of battery capacity, this graphene-based battery has a 6C fast charge capability, combined with a 600A high-power charger, can be recharged to 80% capacity in 8 minutes. The battery has also passed the most stringent safety test – Battery Shooting Test, possessing quality and reliability of the highest standard.

- This graphene-based battery technology is an industry leader. It will significantly shorten charging time, as well as greatly extend battery life, solving the current“ pain points” of pure electric vehicles. The good news is that this battery technology has come out of the laboratory into real-world production. Aion V, the first vehicle model equipped with this graphene-based battery, has entered the mass production testing phase. It is poised to lead the electric vehicle industry into a new stage of development.

- 3C version: to charge from 0 to 80 percent in 16 minutes

- 6C version: to charge from 0 to 80 percent in 8 minutes,

- GAC already referred to the 3C version as having a silicon anode, but the 6C version is graphene based and probably has a hybrid silicon-graphene anode.

- with a SOC of 80 % the – almost full – battery is still being charged at 481 kW. Moreover, it only took 4 minutes to charge 35,1 kWh, which points to an average charging rate of 526,5 kW.


FORD MUSTANG MACH-E MULE IS ACTUALLY A FUTURE LINCOLN ELECTRIC VEHICLE

- As Ford Authority reported in January of 2019, the Ford Mustang Mach-E was always intended to spawn a Lincoln electric vehicle on the same platform. While we’re still waiting for this vehicle to be revealed, Lincoln announced just last month that it will electrify its entire lineup by 2030, and confirmed that its first EV model will launch in 2022

- Ford Authority spies have captured what appears to be a camouflaged Mach-E, but it’s actually a cleverly disguised early Lincoln electric vehicle mule.

- Lincoln’s first EV will launch just in time for the brand’s 100th anniversary and will kick off the automaker’s push to have half of its global sales consist of zero-emissions vehicles by the year 2035.


TESLA RELEASES BIG, NEW SOFTWARE UPDATE WITH DISNEY+

- “You can now watch Disney+ in the Tesla Theater app. To launch Tesla Theater, tap the Entertainment icon in the Application Launcher and select the Theater tab while your car is in PARK.”

- “Car Wash Mode closes all windows, locks the charge port and disables windshield wipers, sentry mode, walk-away door locks and parking sensor chimes. For automatic car washes with conveyor belts, the Free Roll option shifts to Neutral and prevents the parking brake from automatically applying if you leave. To access Car Wash Mode, tap Controls > Service > Car Wash Mode.”

- “You can now enable or disable automatic dimming for your mirrors. To access, tap Controls > Mirror > Mirror Auto Dim.”

- “Dashcam can now automatically save clips whenever your vehicle detects the occurrence of a safety event (such as an accident or airbag deployment) Recordings captured are stored and never transmitted to Tesla. To opt-in, tap Controls > Safety & Security > Dashcam > AUTO To, lead more about how to setup and use Dashcam, please refer to the Owner’s Manual.”

- “You can now switch between battery percentage and distance units by tapping the range display next to the battery icon.”

- “To remain connected to Wi-Fi when shifting into gear, tap the Wi-Fi icon > Wi-Fi Settings > Remain Connected in Drive. This is especially useful for users who wish to use their hotspots for connectivity.”


NIKOLA FOUNDER TREVOR MILTON CHARGED WITH SECURITIES FRAUD

- Trevor Milton, the founder of Nikola Corp.  and onetime executive chairman of the electric-truck startup, was indicted Thursday on securities-fraud charges for allegedly lying to investors about its business making commercial trucks powered by alternative fuel.

- Mr. Milton, who resigned from the company last September, faces two counts of securities fraud and one count of wire fraud, according to an indictment made public Thursday. The 39-year-old faces a maximum 25-year prison term if convicted of the top securities-fraud charge.

- Mr. Milton pleaded not guilty to the charges in federal court in Manhattan on Thursday and was released on $100 million bond.

- Prosecutors said some of Mr. Milton’s claims were false and from November 2019 to September 2020, amounted to a scheme to defraud individual, nonprofessional investors. 

      Mr. Milton’s scheme was motivated by wealth and fame, prosecutors said. As Nikola’s stock price went up, Mr. Milton’s shares were once worth at least $8.5 billion

- To create one video detailed in the indictment, Mr. Milton directed a Nikola employee to use footage of a Nikola One—which wasn’t safe and had no batteries—rolling down a hill, prosecutors said. In the video, which appeared on social media, the truck appears to be driving without an incline, according to the indictment.


VOLKSWAGEN EARNINGS Q2 2021

- Volkswagen posted record first-half earnings on Thursday while also raising its target for profit margin.

- The German automaker saw first-half operating profit before special items hit 11.4 billion euros ($13.5 billion), exceeding pre-pandemic levels on the back of increased demand for premium cars in Europe and the Americas, while electric vehicle deliveries almost tripled.

- Half of Volkswagen’s sales are expected to be battery-electric vehicles by 2030, the German carmaker said in a recent strategy update, while almost 100% of its new vehicles in major markets should be zero-emission vehicles by 2040.


Matthias Schmidt on Twitter: ".@VWGroup CEO @Herbert_Diess tells German chat show #MarkusLanz that the specific CO2 emission factor of 300 g/KWh is the boundary where EVs make sense. Says Germany achieves this on some days but UK and France (nuclear) way ahead." / Twitter
.


Matthias Schmidt on Twitter: ".@VWGroup CEO Diess says the group expect to deliver >1M plug-in (BEV/PHEV) models this year (2021) and expect to meet CO2 targets in EU. Omission of China/N.Am targets likely translate to an expected miss here Says the group welcomes #fitfor55 EU targets, "tough but achievable"" / Twitter

Says the group welcomes #fitfor55 EU targets, "tough but achievable"


VOLKSWAGEN CEO: WE NEED TO CHANGE E-CAR APPROACH IN CHINA

- Volkswagen must change its approach to how it sells electric vehicles (EV) in China, the world's largest car market, Chief Executive Herbert Diess said, in a response to poor EV sales there."Sales are picking up but it requires focus and different approaches as the customers for the EVs are much younger and different to our customer base we are having with the more traditional brands like Volkswagen in China,"


PANASONIC'S Q1 PROFIT SOARS 27 TIMES ON ROBUST DEMAND FOR CAR BATTERIES

- Panasonic Corp said first-quarter operating profit surged more than 27 times, handily beating expectations

- Panasonic, a key supplier of batteries to Tesla Inc, has moved away from low-margin consumer electronics, and now focuses on electric car batteries, industrial-use components and production machinery.

- Panasonic is launching a test line in Japan to make Tesla's so-called 4680 battery cells, which the automaker claims will halve battery costs and help it ramp up battery production 100-fold by 2030.


AUDI RELEASES TWO MORE Q4 E-TRON VATIANTS



PLANS SUBMITTED FOR £450M NISSAN CAR BATTERY GIGAFACTORY IN SUNDERLAND


MORE THAN 250 ALL-ELECTRIC ECANTER DELIVERED


QUESTION OF THE WEEK WITH EMOBILITYNORWAY.COM

With 2877 Superchargers globally and 25000 stalls, what do you think about Tesla’s plan to open up the network to everyone?

Email me your thoughts and I’ll read them out on Sunday – hello@evnewsdaily.com

It would mean a lot if you could take 2mins to leave a quick review on whichever platform you download the podcast.

And  if you have an Amazon Echo, download our Alexa Skill, search for EV News Daily and add it as a flash briefing.

Come and say hi on Facebook, LinkedIn or Twitter just search EV News Daily, have a wonderful day, I’ll catch you tomorrow and remember…there’s no such thing as a self-charging hybrid.

PREMIUM PARTNERS
PHIL ROBERTS / ELECTRIC FUTURE
BRAD CROSBY
PORSCHE OF THE VILLAGE CINCINNATI
VOLVO CARS CINCINNATI EAST
DEREK REILLY FROM THE EV REVIEW IRELAND YOUTUBE CHANNEL
RICHARD AT RSEV.CO.UK – FOR BUYING AND SELLING EVS IN THE UK