📈Rivian’s Q2 2023 Results:

More Revenue, More Vehicles, More Growth

Author

John Rooney
August 10, 2023

August 10, 2023

Today’s newsletter brings you highlights including Cadillac ESCALADE IQ, GM's Bidirectional Charging, Mahindra's Confidence, Volkswagen's Triumph, Rivian Results, and so much more. We cover the most important and relevant topics in the EV/AV space in 5 minutes or less.

Let’s go!

“Before anything else, preparation is the key to success.” — Alexander Graham Bell

Production Up

Rivian increased its projected production number to ____ vehicles for 2023.

  1. 52,000

  2. 55,000

  3. 59,000

  4. 61,000

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Top EV/AV News

  1. Cadillac has unveiled the 2025 ESCALADE IQ, its first-ever all-electric full-size SUV, featuring a Cadillac-estimated 450 miles of range, Super Cruise driver assistance technology, bidirectional charging, reimagined interior and exterior designs, and zero tailpipe emissions, marking a significant step in Cadillac's all-electric future with a focus on bold design, performance, and advanced technology.

  2. General Motors will implement vehicle-to-home bidirectional charging technology across its upcoming Ultium-based electric vehicle lineup by model year 2026, starting with vehicles like the 2024 Chevrolet Silverado EV RST and the 2024 GMC Sierra EV Denali Edition 1, enabling EV owners to transfer energy from their vehicles to their homes for energy management, peak demand reduction, and power outage mitigation.

  3. Indian automaker Mahindra's CEO Anish Shah expressed confidence in the face of global competition, including from Tesla, entering India's electric vehicle market, stating that the company has weathered competition before and continues to thrive, highlighting its market share in SUVs, farm equipment, and tractors, and expects to perform well in the coming years despite competition.

  4. Eligibility for a $4,000 used electric car credit has been extended to certain electric vehicles, according to Tesla, potentially making them more affordable if they are priced below $25,000, under specific eligibility criteria for both buyers and vehicles.

  5. The lead has been regained by Volkswagen in domestic electric car sales from Tesla in Germany for the first seven months of the year, with VW's electric car registrations slightly surpassing Tesla's, while both brands remained ahead of other competitors in the market.

  6. The USPS is also getting ready for the new vehicles, 66,000 electric ones. It is working on the EV infrastructure that matches its new centers and expects its first EV bythe end of this year, and over 9,000 more next year along with ICE vehicles.

  7. Lucid Group unveils the final production specifications for the Lucid Air Sapphire, the world's first fully electric luxury super-sports sedan, featuring a three-motor powertrain, achieving 0-60 mph in 1.89 seconds, with an EPA-estimated range of 427 miles on a single charge, various driving modes, carbon-ceramic brakes, and other cutting-edge features.

  8. Hyundai Motor will introduce five EV models in India by 2032 and expand the number of EV charging stations to 439 by 2027 by leveraging the strength of the company’s sales network.

  9. Li Auto recently had deliveries of vehicles between 100,000 and 103,000 vehicles, representing an increase of 277.0% to 288.3% from the third quarter of 2022.

  10. Autonomous-driving company Pony.ai and Toyota partner to produce "fully driverless robotaxis," starting with a $139 million capital investment from GAC Toyota Motor Co., with Pony providing its autonomous-driving technology and "robotaxi network platform" for Toyota's EVs.

  11. San Francisco-based Cruise has commenced testing its self-driving vehicles in Atlanta, with an initial phase involving a driver behind the wheel to understand the city's roads and driving behaviors before progressing to fully driverless operations. Cruise officials boast of their driverless achievements, including 3 million miles, tens of thousands of rides, and 35,000 deliveries in Phoenix.

What Country?

Thanks to all those that participated in the country poll. About 56% are in the US, 30% in Canada, 9% in Australia, 4% in Sweden, and 2% marked Other. Below are some highlighted comments.

  • “South America, Brazil. Here, commercial fleets and city buses are becoming more popular because of maintenance costs.”

  • “Beautiful British Columbia, North Vancouver. 3 ski runs within 10 kms. Whistler is less than 2 hours away. bike trails and more.”

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