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Sales of new energy vehicles have reached a tipping point Forecasters expect fuel consumption will decline rapidly Bloomberg News From Tesla chargers in the ancient alleys that surround the Forbidden City in Beijing to lonely highway rest stops with charging posts in the western deserts, signs of the electrification of China’s transport fleet — and …
China’s EV Boom Threatens to Push Gasoline Demand Off a Cliff Read More »
Started clock ticking on Chapter 11 filing by EV battery maker For Northvolt AB, the Swedish startup that became a poster child for Europe’s electric-driving future, the route to collapse started in June when BMW AG cancelled a multi-billion-dollar order. Back then, few saw the significance of the move, which effectively started a countdown that would culminate …
Looking Under the Hood: Northvolt Collapse Countdown Started with BMW Order Cancellation Read More »
Summary Northvolt co-founder urges EU not to give up EV battery dream Firm has filed for bankruptcy protection, needs $1.0-$1.2 bln EU hopes hit by weak EV sales, production issues, China strength (Reuters) – Northvolt’s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring …
Northvolt Crisis May be Make or Break for Europe’s EV Battery Ambitions Read More »
Worked with Elon Musk at Tesla before heading up Swedish EV battery maker Bloomberg News Northvolt AB chief executive Peter Carlsson is stepping down as the Swedish battery maker embarks on a restructuring under bankruptcy court protection. Carlsson, a co-founder of Northvolt, has led the electric-vehicle supplier since its inception in 2016. He raised billions …
Northvolt CEO Peter Carlsson Quits After Bankruptcy Filing Read More »
Company failed to secure a lifeline for its battery-cell business in a faltering market for electric vehicles Bloomberg News Northvolt said its main factory will operate as usual during the reorganization. “The company will continue to make deliveries to customers, while fulfilling obligations to critical vendors and payment of wages to employees,” according to the …
Northvolt Files for Bankruptcy in Blow to Battery Hopes Read More »
Bloomberg News Bloomberg NewsTesla Inc. promised to drop the wall on its so-called charging “walled garden” two years ago, making its Superchargers accessible to all EVs. In turn, virtually every brand in the auto industry pledged to put Tesla ports in its electric vehicles.Those commitments, once fulfilled, will make Tesla the standard for automobile plugs in America, particularly …
Tesla Slow to Make its Superchargers More Widely Accessible Read More »
Several investors have already dropped out of Northvolt’s rescue talks Bloomberg News Sweden’s Northvolt AB hired restructuring expert Paul O’Donnell to oversee its main factory unit, as time runs short for the struggling battery maker to mend its finances outside of bankruptcy court. O’Donnell, who has helped Thames Water engage with creditors, will become chairman of Northvolt …
Northvolt Hires Restructuring Expert to Oversee its Main Factory Read More »
Peers including Volkswagen AG and Stellantis NV have issued profit warnings in recent months Bloomberg News Ford Motor Co. will look to eliminate another 4,000 positions in Europe, further retrenching within a region where the transition to electric vehicles is losing traction industry-wide. The reductions — which amount to about 14 per cent of Ford Europe’s …
Ford to Slash 4,000 Jobs in Europe as EV Transition Loses Momentum Read More »
Win empowers him to attack climate policies he’s dubbed a scam Republican will also push policies to produce more oil and gas Donald Trump’s victory promises to shake up US energy and environmental policy, with sweeping implications for oil production, offshore wind development and electric vehicle sales. The win empowers him to deliver on his …
From Oil to EVs, Here’s What a Trump Victory Means for Energy Read More »
While Lightning sales are up this year, they are far short of Ford’s ambitious expectations Bloomberg News Ford Motor Co. plans to shut down the Michigan factory that produces its F-150 Lightning plug-in pickup truck, its signature electric vehicle, through the end of the year as demand for EVs continues to wane. The move is the latest …
Struck by Lightning: Ford to Halt F-150 Lightning Production at Michigan Plant Read More »
