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| Here is your Tuesday Transportation briefing: - 🏎️ BYD unveiled a new EV supercar to rival Ferrari and other luxury brands.
- 🚗 Renault announced the launch of an affordable EV.
- 🚀 Lilium announced the new assembly line for the propulsion units of its eVTOL jets.
Thanks for reading! Robel
p/Robel-Kelkile | |
| 1 | | Despite signs of declining demand, Energy Secretary Jennifer Granholm affirmed that the U.S. is still on course to achieve its ambitious EV adoption targets. Granholm expects EV uptake in 2024 to mirror that of the previous year, which saw a 7.6% expansion in the green vehicle market share. More: - The Biden administration's goal of achieving half of all new vehicle sales being electric by 2030 remains intact, with a record 1.2 million EVs sold in 2023.
- Despite record EV sales volumes and market share in the fourth quarter, the pace of growth has slowed, prompting warnings from automotive industry executives.
- Concerns over higher vehicle costs and the inadequate availability of reliable charging infrastructure persist as significant hurdles to widespread EV adoption.
- Granholm has been actively promoting the Biden administration's investments in clean energy infrastructure across the nation, emphasizing the quadrupling of EV sales since President Joe Biden took office.
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| 2 | | Chinese automaker BYD has introduced a new electric supercar, the U9, which boasts speeds comparable to high-end models from established brands like Ferrari. The U9 is set to accelerate to 100 kph (62 mph) in 2.36 seconds and reach a top speed of 309.19 kph (192 mph), with prices starting from 1.68M yuan ($233,424). More: - The U9 electric supercar is part of BYD's luxury brand, Yangwang.
- For comparison, Ferrari's SF90 Stradale model accelerates to 100 kph in 2.5 seconds, according to Ferrari's official estimate, although Car and Driver achieved a 0-60 mph run of 2.0 seconds.
- The U9's $233,494 base price is less than half of the Ferrari's base price of $528,764.
- The U9 will feature a lithium iron phosphate battery, which saves on production costs because it doesn't require cobalt and similar expensive materials.
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| 3 | | Renault announced SA's electric R5 E-Tech city car, which aims to capture Europe's mass market. The move comes through competitive pricing and technological features like a digital voice assistant while also incorporating nostalgic design elements and sustainable production practices. More: - Priced at around €25,000, the Renault 5 E-Tech is positioned to attract cost-conscious consumers, offering an initial driving range of 400 kilometers (249 miles) on a single charge.
- The R5 competes directly with rivals like the electric Citroën ë-C3, as Renault seeks to overhaul its business under CEO Luca de Meo, focusing on electric vehicle technology and reducing ties with Nissan Motor Co.
- Renault's incorporation of innovative features, such as bi-directional charging, recyclable materials, and potential partnerships with other automakers like Volkswagen AG, underscores its commitment to sustainability and cost efficiency in the increasingly competitive electric vehicle market.
- Despite challenges, including fluctuating government incentives and high vehicle prices, Renault is exploring strategies like affordable leasing options and targeted subsidies to make electric cars more accessible to consumers, aiming to accelerate the transition to electric mobility.
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| 4 | | Lilium initiated the installation of a new assembly line for the propulsion units of all its eVTOL jets at its Wessling facilities. The move comes as the company noted the first prototypes are expected in the second quarter of 2024. More: - The installation of a new assembly line for the propulsion units at Lilium's Wessling facilities represents a significant step towards the industrialization of the Lilium Jet program.
- The propulsion units are crucial components of the Lilium Jet, featuring electric engines that enable thrust vector control for maneuvering during flight, thereby enhancing payload capacity, aerodynamic efficiency, and reducing noise levels.
- Lilium's Senior Vice President of Manufacturing, Jan Nowacki, highlighted the importance of the electric jet engine as a core technology for the Lilium Jet's performance and underscored the significance of the milestone towards serial production.
- The Lilium Jet aims to offer sustainable, zero-emission electric air mobility, attracting interest and sales in global markets, supported by a team of over 950 individuals, including approximately 500 aerospace engineers.
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| 5 | | EnerSys announced plans to construct a lithium-ion cell gigafactory in Greenville, South Carolina, with a total investment of $500M. The facility, expected to create 500 new jobs and commence production by late 2027, will focus on manufacturing lithium-ion cells for commercial, industrial, and defense applications, accelerating the global clean energy transition. More: - The facility will ramp up production capacity to four gigawatt-hours per year, contributing to the growth of domestic battery manufacturing for various sectors.
- EnerSys' partnership with France-based battery maker Verkor, as part of a non-binding memorandum of understanding, aims to bolster the battery supply chain strategy in the U.S., catering to electric vehicle needs and supporting the clean energy transition.
- Other battery manufacturers, such as Albemarle and BorgWarner, are also expanding their presence in South Carolina to meet the rising demand for lithium-ion batteries, aligning with the U.S. government's efforts to boost domestic EV battery manufacturing.
- Initiatives like the Bipartisan Infrastructure Law and the American Battery Materials Initiative have underscored the government's commitment to securing a reliable and sustainable supply of critical minerals for electric vehicles.
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| 6 | | General Motors introduced its luxury electric Cadillac Lyriq in France. Unlike in the U.S., where GM relies on a large dealer network, European customers can customize and purchase their Cadillac EVs entirely online, with plans for further expansion across Europe following its launch in Switzerland. More: - Cadillac noted plans to leverage its French heritage to appeal to European consumers, with plans for a showroom presence in Paris and further expansion into other European markets, starting with Germany by year-end.
- The Lyriq, utilizing the same architecture as its U.S.-made counterpart, is positioned to capitalize on the popularity of electric SUVs in Europe, with anticipated customization options and a focus on sustainability and innovation.
- With Tesla's Model Y SUV emerging as the best-selling electric car in France last year, priced competitively at $46,500, GM could face stiff competition in the luxury electric vehicle segment.
- The Lyriq starts at 82,000 francs ($91,000) in Switzerland, but GM has not yet announced the price in France.
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| 7 | | Quick Hits: - Discover the trends shaping 2024 and learn how trust will be the key to business success. Shape your strategy and get ahead with this latest report.*
- An unmanned Indian train traveled a distance of 70 kilometers without a driver.
- Odysseus, developed by Intuitive Machines, transmitted initial images from the moon.
- Flexport revived convoy services using a new technology platform.
- The Washington State House of Representatives approved a supplementary transportation budget totaling $14.3B.
- Visa and Mastercard have come to a historic $5B settlement, marking a pivotal moment for small business owners. If your business accepts Visa/MC, claim your share today.*
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 | Writer | | Born and raised in the Bay Area, Robel Kelkile is passionate about all things tech, venture, and financial education. He has previously served both universities and state governments in their engagement strategy and tracking legislation. | | This newsletter was edited by Aaron Crutchfield | |
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