BMW, Ford, and Honda Join to Create Vehicle-To-Grid Company Called ChargeScape

First Up 09/13/23

BMW, Ford, and Honda Join to Create Vehicle-To-Grid Company Called ChargeScape

One of the major focuses in the electric vehicle world right now is bidirectional charging, which allows a car to get power from a charger, and to return some of that electricity to the grid if it’s needed. So important is the technology, that BMW, Ford, and Honda have partnered to create a company focused entirely on it in the U.S. called ChargeScape. Announced on the eve of the Detroit Auto Show, the joint venture company will help owners of the three automakers’ EVs share electricity with their local power grid, reports Carscoops.Through a variety of managed charging and energy-sharing services, the company hopes to “unlock entirely new value that EVs can provide the power grid.” “Electric vehicles are unlocking entirely new benefits for customers that can save them money while supporting grid resiliency and increase the use of clean, renewable energy,” said Bill Crider, global head of charging and energy services, Ford Motor Company. “ChargeScape will help accelerate the true potential of the EV revolution by providing significant benefits to both utilities and EV customers through smart vehicle-to-grid services.” Click here for the full story.

Regulation Has Made the U.S. More EV-Ready Than the U.K., EY Study Says

The U.S. is now ranked third in its readiness for an electric vehicle future, beating the United Kingdom, Sweden, and Germany, among other sustainability leaders, according to a report from EY. According to Automotive News, China, and Norway, two nations known for EV-friendly regulation and demand, took the top two spots. Still, the U.S. rose sharply this year to third place from seventh place in 2022, the result of new models, investment in battery manufacturing and more affordable EVs. Regulation has played a key role in enhancing EV affordability. A series of policy measures that encourage the development of a domestic EV supply chain boosted the U.S. in the ranking, Gaurav Batra, EY's global advanced manufacturing and mobility analyst leader, said in an email.These are viewed as amongst the most comprehensive regulatory interventions globally, helping drive a significant uptick in investment activity," he said. The nation's prominence in the global EV supply chain and consumer market has grown quickly. EY's findings, which imply that the U.S. is about to join the world's elite club of sustainability leaders, are good news for automakers investing billions in EVs and the supply chain. Click here for the full story.

Jose Muñoz Says Hyundai in ‘Crisis Mode,' Boosting Investment

The Hyundai brand has catapulted ahead of rivals in the U.S. sales rankings in three short years, but North America CEO Jose Muñoz says the company is in "crisis mode" as it ramps up investment to expand its domestic footprint and turbocharge U.S. growth. Speaking Tuesday at the Automotive News Congress, Muñoz said Hyundai Motor America's automotive operations and those of its 835 independent dealers contributed some $20.1 billion and 190,000 jobs to the U.S. economy in 2021. And more is on the way, Muñoz said, thanks to last year's commitment by Hyundai Motor Group Chairman Euisun Chung to invest some $12.6 billion in the U.S. by 2025. The avalanche of investment comes as the Hyundai brand gallops up the retail standings. Hyundai ranked No. 8 in U.S. sales in 2020 with 622,269. But it jumped to No. 5 last year, moving 724,265 vehicles. It was surpassed by only Toyota, Ford, Chevrolet, and Honda. Muñoz half-joked that such breakneck expansion still isn't good enough. "I'm really disappointed with the evolution. I think we should have done more and faster," said Munoz, who also is global COO of Hyundai Motor Co. "So, we are in crisis mode." Click here for the full story.

Polestar 2 Offers Improved Range, Performance with RWD

For the ’24 model year, Polestar improves the range and efficiency of the Polestar 2. According to Wards, Polestar 2 can now travel up to 20 percent farther, consume up to 9 percent less energy and charge up to 34 percent faster. That’s due to what could be a model for cost savings as OEMs market BEVs to price-sensitive mainstream customers. Rather than give in to the expensive and blunt tactic of adding more battery to add range and reduce charge stops in its sportier, dual-motor variants, Polestar uses a downsized 78-kWh pack and improves range and performance through incremental efficiency gains across the whole car. In the Polestar 2 that means using two common, relatively inexpensive types of motors: a permanent magnet synchronous motor (PMSM) on the rear axle and an induction motor on the front axle. The Polestar team offsets the disadvantages of the induction motor (lower efficiency and higher power losses) with an improved software controller that engages the front motor only as needed. Click here for the full story.

How New Vehicles Are Trending in Today’s Market – Brian Moody | Autotrader

The average transaction price of a new vehicle has increased since last year, but not by much. Could this be the incentive and relief consumers are looking for? On today’s episode of CBT News’ Inside Automotive, Brian Moody, Executive Editor at Autotrader, joins us to share insights on the latest data from Cox Automotive. New vehicle prices are still astronomically high compared to pre-pandemic levels, although the more notable price rises have decreased to less than 1 percept. These elements are driving prices down because there is more inventory available. Key takeaways: Luxury brands currently make up 20 percent of the overall market, implying that consumers opt for more luxury brands than mainstream vehicles. With minimal options available for vehicles priced under or at $ today, consumers are more likely to purchase a luxury vehicle than an EV.  By 2024, Autotrader predicts new EV sales will reach $1 million for the first time. Click here for the full interview.


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