🥇Electric Invasion! Cybertrucks, Rivian R1S,...

June 11, 2024

At the 41st Annual Colorado Concours d’Elegance & Exotic Sports Car Show, we showcased our Rivian R1S and Ford F-150 Lightning among a stunning array of EVs, including Cybertrucks, a Lotus Eletre, and more. The perfect weather added to the event’s allure, making it an ideal day for engaging conversations about the future of electric vehicles. Enthusiasm was high, and we’re excited to return next year for another round of showcasing and discussions.

EV news today includes:

• Polaris celebrates launch of first-of-its-kind off-road electric charging network

• ZM Trucks secure 900-unit initial order

• Honda advances hydrogen strategy with production launch of fuel cell EV

• A record-breaking month for EV sales in May for GM

• Rivian unveils facelift for the R1 platform

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"And so with the sunshine and the great bursts of leaves growing on the trees, just as things grow in fast movies, I had that familiar conviction that life was beginning over again with the summer."

— F.Scott Fitzgerald, The Great Gatsby

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1. Polaris Inc. and the Michigan Economic Development Corporation launched an electric off-road vehicle charging network supporting 100 miles of trails in Michigan's Upper Peninsula, with a $700,000 grant and four charging stations, alongside the nation's first rental fleet of all-electric RANGER XP Kinetic vehicles.

2. 32GROUP placed its first 900-unit order for ZM Trucks' zero emission Battery Electric and Fuel Cell Electric commercial vehicles.

3. Production of the all-new 2025 CR-V e, the only fuel cell electric vehicle made in America, has begun at Honda's Performance Manufacturing Center in Ohio, featuring a 270-mile EPA driving range and combining a new U.S.-made fuel cell system with plug-in EV charging capability.

4. A record-breaking month for EV sales in May was recently recorded for GM, driven by the Cadillac Lyriq and Chevy Blazer EV, with the exact numbers to be unveiled on July 2nd.

5. Rivian has introduced the second-generation R1S SUV and R1T pickup, featuring extensive hardware and software improvements, new motor configurations, enhanced performance, advanced technology, and sustainable design, starting at $69,900 for the R1T and $75,900 for the R1S.

6. The new Fiat 500e Inspired By Los Angeles model, featuring a unique Marine Layer Mist exterior color, advanced tech platform, and standard JBL audio system with Level 2 active driving assist, starts at $36,000 and will arrive at dealers in the third quarter of 2024.

7. General Motors is leveraging Costco's Auto Program to sell more EVs by offering discounted prices to Costco's 50 million members.

8. Beijing's new subsidy offers buyers of EVs replacing petrol cars a $1,380 incentive until the end of 2024, expected to significantly boost sales in China's EV market amidst forecasts of improved margins and increased consumer demand.

9. U POWER announced a partnership with UNEX on June 5th to introduce battery-swapping services to Portugal's largest taxi operator, ANTRAL, marking UOTTA's entry into Europe with plans for 2 swapping stations and 120 battery-swapping taxis.

10. Peter Rawlinson, CEO and CTO of Lucid Group, Inc., will participate in fireside chats at the Deutsche Bank Global Auto Industry Conference on June 11 and the Evercore ISI Global Clean Energy & Transitions Summit on June 12, with both discussions webcast live on Lucid's investor relations website.

11. Volvo, majority-owned by China's Geely, has begun relocating production of its Chinese-made EVs to Belgium amid expectations that the European Union will impose tariffs on Beijing-subsidized imports, potentially avoiding the need to halt sales of these models in Europe.

12. BMW M Motorsport returns to the top category at the 24 Hours of Le Mans with the BMW M Hybrid V8 in the Hypercar class, 25 years after their victory with the BMW V12 LMR, and the 20th BMW Art Car designed by Julie Mehretu will also compete, while two BMW M4 GT3s will race in the LMGT3 category.

Rivian Update

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