Production

Electric car maker Lucid LCID -3.71% Group Inc. reported narrower losses in the first quarter of 2022, and said it would increase vehicle prices starting in June, citing a changing environment from when it first set pricing in September 2020. Lucid said Thursday that it recorded a net loss of $81.3 million in the January-to-March period, compared with a $2.9 billion loss in the same year-ago period. The company stuck with its production…

Lucid Motors is raising the prices of its luxury electric vehicles, as the company continues to struggle with production. The company reported delivering only 360 vehicles to customers in the first quarter of 2022. As of June 1st, Lucid’s newly increased prices will be $154,000 for the Air Grand Touring (previously $139,000), $107,400 for Air Touring (up from $95,000), and $87,400 for Air Pure (up from $80,000). That represents an average increase of around 11 percent. The new Lucid Air Grand Touring Performance model,…

A recent report states that global battery conglomerate CATL is in the final stages of vetting potential sites to bring EV battery production to the US. The move would mark the company’s first entry into the second largest automotive market in the world, and the new facilities would provide cells to BMW AG and Ford Motor Company for their EV production stateside. Contemporary Amperex Technology Co Ltd., better known as CATL, is a global energy technology company and the leading EV battery manufacturer in China.…

Tesla (TSLA) is adding shifts at Gigafactory Shanghai in the hope to return to full production this month after being shut down for 22 days. Like many other companies, Tesla had to shut down production at its Shanghai factory last month after local authorities imposed serious lockdowns on the population in an attempt to limit the spread of COVID-19 after a surge in cases during the first quarter. The automaker was finally able to restart production on April 19 after 22 days of being shut down. Tesla brought back…

Germany's government wants to attract chip makers with EUR 14 billion (roughly Rs. 1,13,132 crore) in support, Economy Minister Robert Habeck said on Thursday, adding that the lack of semiconductors used in everything from smartphones to cars was a massive problem.A global chip shortage and supply chain bottlenecks have created havoc for car makers, healthcare providers, telecoms operators and others."It's a lot of money," Habeck told a gathering of family businesses in Hanover.In February, the European Commission set out…

Apple should hold its iPhone 14 launch event in mid-September, assuming there will be no delays to its regular schedule this year. After Apple’s record March 2022 quarter results, we explained that there’s at least a theoretical risk for the 2022 iPhones to see slight delays. That’s because of the new lockdowns in China that affected all supply chains in the region, including Apple’s. The company did not offer any guidance for the June quarter. But Apple said that it expects a revenue hit as big as $8 billion for…

Fisker announced today Project Ronin, the company’s third electric vehicle – a new electric GT with what it claims will be the “longest range of any production EV.” While Fisker has announced its third EV, it has yet to bring its first one to market. The Fisker Ocean is the vehicle that Fisker Inc. – Henrik Fisker’s latest EV startup – is most known for. The company has promised a starting price of $37,500 before incentives for the electric SUV, which is supposed to be produced by Magna starting in November 2022.…

The drought in chip availability that has hit auto production, raised electronics prices and stoked supply-chain worries in capitals around the globe has a new pain point: a lack of chips needed for the machines that make chips, industry executives say.The wait time it takes to get machinery for chip-making—one of the world’s most complex and delicate kinds of manufacturing—has extended over recent months. Early in the pandemic it took months from placing an order to receiving the equipment. That time frame has stretched…

Sila Nanotechnologies announced that they will invest a few hundreds of millions of dollars into a new battery material factory in Washington state to support the production of up to 500,000 electric vehicles. The company described the project in Moses Lake in a new press release today: In a commitment to ensure America retains global leadership in the world’s transition to the new energy storage era, Sila, a next-generation battery materials company, today announced the purchase of a facility with more than…

U.S. President Joe Biden delivers remarks about climate change and protecting national forests on Earth Day at Seward Park in Seattle, Washington, April 22, 2022.Jonathan Ernst | ReutersThe Biden administration on Monday announced it will begin a $3.1 billion plan to boost domestic manufacturing of batteries, in a broader effort to shift the country away from gas-powered cars to electric vehicles.The electrification of the transportation sector will be critical to mitigating human-caused climate change. The transportation…