For the second time this year, EV start-up Fisker has scaled back production plans, and now expects to roll out half as many Ocean SUVs as it planned at the beginning of the year. But that was fine with Wall Street, its stock price rising nearly 9% as the week came to a close. Headlight.News looks at what’s behind the cutback, and why it pleases investors.
With EV sales growth slowing down, General Motors “is currently assessing” its massive investment in battery-electric vehicles. And, while it remains committed to CEO Mary Barra’s “path to an all-electric future,” it will shift more emphasis to the hybrids and plug-ins it was planning to abandon. And other automakers, including Ford and Stellantis, are likewise shifting direction. If anything, this validates Toyota’s strategy calling for a mix of EVs, hybrids and PHEVs, reports Headlight.News.
Proponents claim hydrogen is even better than batteries as a way to the shift away from fossil fuels. The problem is how to produce “green” hydrogen that doesn’t create its own environmental issues. A pair of scientists may have found the answer — ironically, while they were searching for fossil fuels. Headlight.News has more.
Ford is rethinking its commitment to battery-electric vehicles, at least in the near term, company officials revealed during an earnings call. It might seem a logical move considering the automaker lost about $37,000 on every EV it sold during the third quarter. But Ford is by no means the only automaker rethinking its commitment as growth in the electric vehicle market slows. Read the story at Headlight.News.
Slow to enter the EV market, Toyota is making up for lost time. And it’s signaling its shift in direction at this week’s Japan Mobility Show where it will unveil two all-electric concept vehicles, including one that could become a battery-powered successor to the Toyota Supra.
A new Shell Recharge Station offers a record 258 EV quick chargers – as well as a convenience store, café and lounge for motorists when they plug in. That facility is located in Shenzhen, China but, as Headlight.News reports, similar facilities will soon start popping up across the U.S.
SUV concept promises 497 miles of range — and a 621-mile EV could follow. Get all the details at Headlight.News.
As Turkish President Recep Tayyip Erdogan made a pitch to Tesla CEO Elon Musk to build the EV maker’s next plant there, representatives for the kingdom of Saudi Arabia are making the same pitch. Find out more at Headlight.News.