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| Hey Insiders — Today, we're bringing you the latest on the DOT's fund allocation for EV charger repairs, plus Singapore's first electric cargo vessel. Scroll down for news on the UAW union strike, NIO, and Ionity. Let us know which areas you would like us to cover next. If you find this newsletter helpful, please share it with a friend or colleague. Thanks for reading! Nicolas
p/mobilitynerd | |
| 1 | | The Department of Transportation is allocating $100M for bids involving the repair and replacement of older or out-of-service electric vehicle chargers. According to an August study by J.D. Power, one out of five attempts at charging in public stations outside of the Tesla network were not successful. More: - The funds are part of the Bipartisan Infrastructure Act of 2021.
- The government database for tracking temporarily unavailable chargers surpasses 6,000 locations.
- There are 150,000 public charging ports in the U.S., out of which 34,000 are fast chargers that can complete the task in 20 minutes to an hour.
- 20% of chargers were installed prior to 2019.
- In total, $7.5B from the 2021 infrastructure law is for charging projects.
Q: Have you experienced reliability issues at public EV charging stations? Join the conversation here. |     | |
| 2 | | A consortium including Yinson Green Technologies is developing Singapore's first electric cargo vessel. The project would also include an electric vessel for transferring crew by Norwegian startup Lift Ocean AS. More: - Singapore's port authority is requiring all new harbor craft to be zero emission by 2030.
- The country provided $6.6M in funds to the Goal Zero consortium and two other groups led by Keppel FELS and Sembcorp Marine for electric ships.
- Shell launched Singapore's first electric passenger ferry in May to transport workers to its refinery in Palau Bukom.
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| 3 | | Approximately 13,000 workers have gone on strike after the United Auto Workers union did not reach an agreement with General Motors, Stellantis, and Ford. "The companies have made some significant offers, but I believe they should go further to ensure record corporate profits mean record contracts for the UAW," said President Biden. More: - The manufacturing plants impacted by the strike include GM's truck and van factory in Wentzville, Missouri; Stellantis' Jeep Wrangler and Gladiator plant in Toledo, Ohio; and Ford's Bronco SUV facility in Wayne, Michigan.
- The United Auto Workers union represents 146,000 workers across the three automakers.
- The automakers have offered wage increases of 20%, cost-of-living adjustments, profit-sharing bonus bumps, and more vacation time and family leave.
- Despite the strike, Ford stock was up 0.2%, GM stock +1.26%, and Stellantis +2.31% for the day on Friday afternoon.
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| 4 | | Subaru is planning to build an electric vehicles plant in the U.S., with Indiana being considered the top prospective location. "The time is approaching for us to finally make a decision," said the automaker's president, Atsushi Osaki. More: - Subaru plans to have 50% of its global sales, 600,000 units, consist of electric cars by 2030.
- The company expects to begin production at the plant by 2027.
- The automaker said the choice of location is dependent on whether it will procure batteries via Toyota or on its own.
- Osaki met with Indiana Gov. Eric Holcomb earlier this month and "received various proposals" for tax credits and incentives. Subaru already operates an ICE vehicle manufacturing plant in Indiana.
- In November, Subaru had said it would not build EVs in the U.S. due to labor costs.
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| 5 | | EV charging infrastructure company Ionity partnered with Village Hotels in the U.K. for the installation of 380 fast charging points. The 350 kW stations will be set up at 33 locations. More: - As part of the deal, EV owners who charge at the locations will have access to hotel facilities, including gyms, pools, and co-working spaces.
- The companies plan to have all stations in operation by the end of 2024, with the first opening in April.
- The ultra-rapid chargers use 100% renewable energy through a partnership with energy firm Octopus.
- Ionity is a BlackRock-backed joint venture between Audi, Porsche, Mercedes-Benz, Hyundai, BMW, and Ford.
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| 6 | | EV maker NIO is launching a joint venture with battery developer SVOLT to develop cylindrical cells. The companies plan to start a pilot production line in Maanshan, in the province of Anhui, China. More: - NIO had announced in February its intention to produce cylindrical cells for an annual capacity of 40GWh in Hefei; however, in July, it postponed in-house battery production.
- The automaker has been attempting to reduce its dependency on its main battery supplier, CATL, following a price increase in April 2022.
- $NIO was down 0.48% for the day and -0.67% WoW on Friday afternoon.
Zoom Out: - In August, Samsung SDI announced the expansion of its battery factory in Hungary to produce cylindrical cells for BMW. This followed Panasonic's deal to supply Mazda with cylindrical cells in the second half of the decade.
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- Delta Air Lines revised its adjusted per-share earnings projection from a range between $2.20 and $2.50 to $1.85 and $2.05.
- Steel company Posco received an order for 3.53 million traction motor cores from Hyundai Motor Group.
- South Korean aircraft leasing company Solyu Company pre-ordered 50 eVTOLs from SkyDrive.
- Tier is relaunching in the West of England Combined Authority with 500 e-scooters and e-bikes.
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Term of the Day Customer relationship management: Customer relationship management (CRM) is a strategy for managing a company's interactions with its customers or potential customers. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
INSIDE TRANSPORTATION LEADERBOARD (ALL-TIME) |
 | Sr. Analyst | | Nicolas S. is a Sr. Analyst at Inside, covering transportation and startup trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped startups. Follow him at @MobilityNerd. | | This newsletter was edited by Aaron Crutchfield | |
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