We've got another dose of this week's top EV headlines below. Keep yourself educated about the happenings in the segment. This way, you’ll be the smartest person at the water cooler when it comes to major headlines in the industry.
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Wallace Battery Innovation Center
General Motors is building a new 300,000 square-foot battery research facility in Michigan to build EV batteries that are longer-lasting, quicker to charge, and more sustainable. One of its main goals is building EVs that can travel up to 600 miles on a single charge.
The Wallace Battery Innovation Center, named after Bill Wallace, a battery engineer who died in 2018, will cost up to ‘hundreds of millions of dollars.’ The facility’s goal is to produce batteries with an energy density of “up to 1,200 watt-hours per liter.” This has never been seen before in the EV industry. Currently, GM has been producing Ultium battery architecture which provides driving ranges of up to 400 miles or more. These batteries will make their debut in the Hummer EV pickup truck, set to be produced next year.
Tesla delivered 241,300 electric vehicles during the 3rd quarter of 2021, surpassing analysts' predictions of about 220,900 Tesla cars delivered during this period. The company produced 237,823 cars in the period ending September 30, 2021. Of that, 228,882 were its Model 3 and Model Y vehicles, their more affordable mid-range offerings.
Rivian plans to build battery cells in-house after sourcing batteries from a South Korean supplier. Rivian said in its heir filing for a US initial public offering that its own battery cells would complement 3rd party cell procurement. This would be able to provide supply continuity and support. Rivian sees capital expenditure of approximately $8 billion through the end of 2023 to invest in additional manufacturing capacity, battery cell production, charging networks and others.
Rivian is also planning an autonomous driving system and a potential subscription model. The autonomous capability will cost around $10,000 and the subscription fees and connectivity-based services are expected to be about $5,500 for 10 years per vehicle. Rivian’s SAE Level 3 autonomous driving technology will feature hardware similar to R1S and R1T’s Driver+ system. These systems have Level 2 safety features that assist drivers. Driver+ utilizes 11 cameras, 12 ultrasonic sensors, 5 radars, and a high-precision GPS antenna.
Rolls-Royce will produce only electric cars by 2030, joining other premium brands making the switch. The company’s first fully electric-powered car, Spectre, will be on the market in the fourth quarter of 2023. BMW, the parent company of Rolls-Royce, hasn’t set an end date for producing fossil-fuel-burning cars. Instead, it has set a goal of 50% electric vehicle production by 2030.
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