Porsche Looking to Boost its Profits as its Prepares for a 2022 IPO That Could Value the Company as High as $81.4 Billion

Sports car manufacturer Porsche AG, which is currently a subsidiary of parent company Volkswagen AG, aims to launch an IPO later this year. But before any IPO, the iconic sports car maker wants to increase its profit margins in order to make itself more attractive to investors. Porsche’s most profitable model is the iconic 911 and sales of the iconic car could reach 40,000 units in 2022, which would be a record high number for Porsche.

Eric WalzAug 24, 2022 10:30 AM PT      

Toyota Unveils the 2023 Crown, a Lifted Hybrid Sedan With 340 HP

One of Toyota’s oldest modest returns to the U.S. as a raised sedan with chunky styling and a 340-horsepower hybrid powertrain.

Vineeth Joel PatelAug 22, 2022 3:00 PM PT     

EV Startup VinFast Simultaneously Opens Six Retail Stores in California as it Prepares to Enter the U.S. Market

Vietnam-based electric vehicle startup VinFast says its strongly committed to a sustainable future of smart electric mobility and is preparing to enter the U.S. market with its two new electric SUVs. On July 14, the company opened its first six retail showrooms in California, with many more to come. The automaker’s strategy is to expand its network of retail locations in order to build personalized relationships with its customers.

Eric WalzAug 22, 2022 5:00 AM PT    

Qualcomm Ventures Invests in ThunderX, a Company Developing a Domain Controller-based Intelligent Vehicle Compute Platform

Qualcomm Ventures, the venture capital arm of Qualcomm, has made an investment in ThunderX, a subsidiary of Thunder Software Technology Co.,Ltd. (ThunderSoft​), which is a China-based company specializing in vehicle computing platforms. The company plans to develop an open intelligent driving platform for automakers that can be mass produced.

Eric WalzAug 21, 2022 10:30 AM PT     

General Motors is Building a Coast-to-Coast DC Fast EV Charging Network in the U.S. in a New Partnership with Travel Center Operator Pilot Company

General Motors announced a new partnership with Pilot Company, a leading operator of gas stations and truck stops in the U.S. The two companies are collaborating on a nationwide DC electric vehicle fast charging network that will be installed, operated and maintained by EV charging provider EVgo.

FutureCar Staff Aug 20, 2022 2:10 PM PT      

Hyundai Unveils the IONIQ 6 ‘Electric Streamliner’, its Bold Sedan With a 380-Mile Range and 18-Minute Charging Time

Automaker Hyundai unveiled its IONIQ 6 electric sedan during an online event on Wednesday evening. The bold sedan, which was teased in a photo last month, is the second electric vehicle launched under Hyundai’s electric sub-brand, following the IONIQ 5 SUV. The unique design makes the IONIQ 6 one of the most of the most energy-efficient EVs in the market.

Eric WalzAug 20, 2022 9:30 AM PT    

EV Startup Fisker Inc. Hires BMW Exec as Senior VP of Manufacturing, Aims to Build One Million EVs a Year by 2027

​Electric vehicle startup Fisker, which is gearing up to launch its first EV the Fisker Ocean this fall, has appointed Alpay Uguz as Senior Vice President of Global Manufacturing. Before joining Fisker, Alpay worked at BMW's production facility in Spartanburg, South Carolina as the general manager of the automaker’s X Series SUVs, all of which are built in the U.S.

Eric WalzAug 19, 2022 1:45 PM PT      

Tesla’s Battery Supplier Panasonic is Working on New EV Battery Technology That Can Boost Range by 20%

Tesla’s battery supplier Panasonic says it's working on new technology that can improve a battery’s energy density and boost EV range by 20 percent. If Panasonic achieves its goal, it could boost the range of the Tesla Model 3 for example, by 100 km (62 miles), without increasing the size of the battery pack.

Eric WalzAug 19, 2022 1:10 PM PT    

Volvo’s Parent Company Geely Launches a New Outdoor Lifestyle EV Brand Named 'RADAR'

Chinese automaker Zhejiang Geely Holding Group Ltd (“Geely’), which is the parent company of Sweden’s Volvo Cars, is following in Rivian’s footsteps and launched a new outdoor lifestyle EV brand in China named RADAR. The brand will target urban professionals that want an electric vehicle to take on weekend adventures such as camping trips.

FutureCar Staff Aug 19, 2022 9:30 AM PT      

Michigan-based May Mobility Closes on $111 Million Funding Round, Begins Development on Toyota’s Next-Gen Commercial Autonomous Vehicle Platform

May Mobility, an Ann Arbor Michigan-based autonomous transportation startup, announced it closed on a $111 million Series C round of funding. The latest funding round brings the company's total funding to date to $194 million. Through its collaboration with Toyota, May Mobility aims to begin fully-autonomous commercial robotaxi operations in 2023, as well as expand into new markets.

Eric WalzAug 18, 2022 10:00 AM PT     

Intel’s Self-Driving Car Unit Mobileye Postpones its Planned U.S. IPO That Could Value the Company up to $50 Billion

Intel's autonomous driving technology unit Mobileye has put its U.S. IPO plans on hold. With the current global market conditions, taking the company public in the upcoming months would not be beneficial, according to Mobileye founder and CEO Amnon Shashua. Intel purchased Mobileye for $15.3 billion in 2017 in its push into the automotive space.

Eric WalzAug 17, 2022 9:15 AM PT       

NHTSA Opens Investigations Into Two New Fatal Tesla Accidents

Two recent fatal automobile accidents involving Tesla’s electric cars are being investigated by the NHTSA. The fatal accidents took place in California and Florida.

Vineeth Joel PatelAug 16, 2022 6:55 AM PT      

Consumer Reports Survey Finds Roughly 28% of Respondents Don't Want to Buy an EV

Surveyors also had interesting information to share on rebates and key factors holding them back from purchasing an electric car.

Vineeth Joel PatelAug 15, 2022 7:15 AM PT    

Volkswagen’s Software Company CARIAD to Use BlackBerry QNX to Support ADAS and Autonomous Driving Functions of Future VW Vehicles

Volkswagen's software company CARIAD announced that it selected BlackBerry QNX technology for its new VW.OS vehicle operating system. The software platform will be available for Volkswagen Group vehicles from the middle of the decade. Blackberry's QNX technology including its QNX OS for Safety, which is a pre-certified microkernel operating system designed for safety-critical embedded systems.

Eric WalzAug 14, 2022 10:30 AM PT       

Volkswagen Breaks Ground on the First of Six European Battery Cell Factories as Part of a $20 Billion Investment

Volkswagen is bundling its global EV battery business into a newly formed company named PowerCo as past of a $20 billion investment. The new company will be tasked with managing the entire value chain of the automaker's battery business, including sourcing raw materials and battery recycling. On Thursday, Volkswagen and PowerCo held a groundbreaking ceremony for the first of six new EV battery plants planned for Europe.

FutureCar Staff Aug 13, 2022 12:45 PM PT   

EV Startup Fisker Announces ‘Fisker Finance’ a Digital Financing Platform for Purchasing the Electric Ocean SUV

EV startup Fisker announced a new direct-to-consumer online financing platform digital finance program with JPMorgan Chase Bank in the U.S. that will support its direct-to-consumer digital sales model. Through its retail financing partnership with JPMorgan Chase Bank, U.S. customers can arrange vehicle financing entirely online for the Fisker Ocean electric SUV, the company’s first model.

Eric WalzAug 13, 2022 9:00 AM PT     

Volvo-backed EV Battery Maker Northvolt, Founded by Former Tesla Execs, Raises Another $1.1 Billion to Help Fund its Expansion

​Sweden-based electric vehicle battery manufacturer Northvolt, a company backed by automaker Volvo Cars, today announced the signing of a $1.1 billion convertible note to fund its expansion of battery cell and cathode material production in Europe to meet the growing demand for EV batteries from automakers.

Eric WalzAug 12, 2022 3:00 PM PT   

Munro and Associates Offers a Detailed Look of How the Front Seats of the Tesla Model Y Are Bolted to its Battery in New Video

The Tesla Model Y SUV built in Austin, Texas is equipped with a structural battery pack using new 4680 battery cells. But the design of battery, which includes the vehicle's front seats and center console, is one of the reasons that electric automaker is leading the auto industry in EV engineering. A new video from automotive consulting firm Munro and Associates provides a detailed first look of the unique design.

Eric WalzAug 12, 2022 11:00 AM PT       

California Startup Orbis Brakes Debuts its Revolutionary 'Periodic Wave' Brake Line Developed in Collaboration with NASA

California-based startup Orbis Brakes has launched its new “Periodic Wave" disc brake line that uses advanced aerodynamics to provide superior surface cooling. The enhanced cooling helps reduce dangerous brake fade and help extends electric vehicle range. Orbis pioneered its lightweight Periodic Wave brake line in collaboration with NASA’s Marshall Space Flight Center.

Eric WalzAug 11, 2022 11:15 AM PT     

GM's New 'Plug And Charge' Feature Will Simplify the Charging Process For its Current & Future EVs

General Motors is fast advancing its electrification plans. The automaker claims that soon its new Plug and Charge feature will be available on all public EV chargers within the Ultium Charge 360 Network. GM customers currently can use the service at EVgo DC fast-charging stations. Currently, over 100,000 charging points across the United States and Canada are available under the Ultium Charge 360 Network.

Manish KharintaAug 11, 2022 9:00 AM PT