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Ford is pretty happy with its electric car sales so far, automakers are warning that new tax credits could hurt EV sales in the US and Baidu will launch its first self-driving taxi service China. All that and more The Morning Shift for August 8, 2022.
1st Gear: Ford Thinks It’s Winning the EV ‘Arms Race’
Ford’s EV launch has been pretty good so far. Despite the odd reminiscence for failing roofs and dodgy wiring, the company’s electric incarnations of the Mustang, Transit and F-150 Lightning proved popular. Today, CEO Jim Farley said the company is moving its EVs “as fast as we can make them,” because it has witnessed “tremendous” demand for the new models.
Its success in the space means the Blue Oval is now eyeing electric-powered competitors in what Farley calls the EV “arms race.” According to the Detroit Free Press, Farley believes Ford has the capacity to take on both legacy automakers and EV upstarts. The site says:
“Public response and order banks will allow Ford for years to ‘capture a large share of the fast-growing EV market,'” Farley said. ‘We have a clear path to reach a run rate of 600,000 EVs by the end of next year. And that will lead to a foundation of 2 million by late 2026’.
“Early sales data indicates that Ford is a serious contender, he said.”
If Ford can ramp up its EV production at this pace, it could bode well for the company. After opening new sites and increasing capacity at existing factories, Tesla said it will hit annual production of 2 million units next year. And Ford, just has delivered its first EV nearly two years agothat target can be hit in no time.
In contrast, American stablemate GM has taken a different tack when it comes to flooding the market with EVs. Sure, the Bolt has been a solid seller for a few years now, but the company took its time designing all new electric cars and trucks that will hit the market in the coming months and years. DFP added:
“It doesn’t matter if Farley’s comments were directed at GM, GM spokesman Jim Cain told the Free Press. ‘The real question is where will we all be in one year, two years, five years or 10 years. We will not trade our position for anyone.”
So far this year, GM has delivered 7,674 battery-powered vehicles split between the Chevrolet Bolt and Hummer EV pickup. Ford, meanwhile, has sold more than 30,000 EVs between the Mach-E, F-150 Lightning and the electric Transit.
2nd Gear: Tax Credits Could ‘Endanger’ EV Targets
US lawmakers passed a new bill yesterday that would expand the tax credits available for new electric vehicle buyers. But, the new rules comes with a whole heap of caveats which many automakers are not happy about.
According to Reutersa group representing legacy automakers such as General Motors, Toyota and Volkswagen warned that the new $430 billion bill could “put achieving US electric-vehicle adoption targets for 2030 at risk .”
The new bill includes a $7,500 tax credit for EV buyers here in the US, but to qualify the car you buy must be assembled in North America. This means that once the law goes into effect, many EVs will not qualify for grants. Such models include the Hyundai Ioniq 5, Kia EV6 and the Subaru Solterra.
The law also includes provisions against Chinese-made parts. After 2023, vehicles with batteries that use Chinese parts may not receive the credit. According to Reuters:
“‘Unfortunately, the EV tax credit requirements will make most vehicles ineligible for the incentive,’ said the chief executive of the Alliance for Automotive Innovation, John Bozzella, who added that the proposal legislation would also “jeopardize our collective target of 40-50% electric vehicle sales by 2030.”
The wording of the new bill is all there to try and promote manufacturing here in the US Currently, companies like BMW, Toyota and Hyundai all have factories here in North America, but build their EVs in plants overseas.
If they want to attract American buyers by applying these tax credits to their cars, they’ll need to find a way to start assembling more models stateside, and fast.
3rd Gear: Baidu Cleared for China’s First Self-Driving Taxi
Like self-driving cars could be less than a year away still now. That’s because Chinese firm Baidu has been granted a permit to start offering rides in its autonomous taxis without a safety driver at the wheel.
According to Engadget, Baidu has been granted permits to operate a fully driverless taxi service in China – making it the first company in the country to obtain such permits. The site reports:
“In April, Baidu received approval to operate an autonomous taxi service in Beijing, as long as there is a human operator in the driver or front passenger seat. Now, it can offer a service where the only aboard the vehicle are passengers.
“There are some limitations to the permits. Apollo Go driverless vehicles will transport paying passengers around designated zones in Wuhan and Chongqing during daylight hours only.”
The service will operate in a five-square-mile area area in the Economic & Technological Development Zone (WHDZ) of Wuhan and a 12-square-mile region in Yongchuan District of Chongqing.
While there may not be a backup driver in case the wheel turns south, Baidu has built a slew of safety features into its autonomous taxis. It includes redundancy monitoring methods, remote driving capability and a safety operation system.
The step forward for Baidu and its self-driving operation has been a long time coming. After clocking countless miles of testing safety drivers in the area, the company announced its next-generation robotaxiwhich includes a removable steering wheel.
4th Gear: Lawmakers Investigate Self-Driving Regulation
As China prepares to launch fully self-driving taxis, the US has yet to settle the law that will govern such technology. To try and correct this imbalance, two members of the House of Representatives are launching a bipartisan effort to revive legislative efforts to boost self-driving cars.
According to Reuters, representatives Robert Latta, a Republican, and Debbie Dingell, a Democrat, are creating a bipartisan Congressional Autonomous Vehicle Caucus to try and educate lawmakers on the technology. The site reports:
“‘We’re working to find that common ground to get something we can pass,’ Dingell said, adding that the United States should update the motor vehicle safety standards that were written decades ago thinking that human drivers were in control and ‘couldn’t have a patchwork of laws in any of the 50 states.”
The pair hopes the new law in Washington will help advance American-made self-driving tech. Because of this, they hope to reach out to members of the government from around the country because the laws will one day “affect everyone.”
The rules around self-driving cars have had a somewhat turbulent time in the Senate. In 2017, the House of Representatives passed legislation aimed at increasing the use of self-driving cars, but the bill failed to pass in the Senate.
5th Gear: Tesla Buys More Nickels
As Tesla looked on increase its electric car production at its six factories around the world, the company desperately needs new sources for the vital materials it needs to produce enough batteries. The company recently said it could reach production of 2 million cars a year from 2023, so it needs to get enough lithium, nickel and other elements needed to produce enough battery packs.
Today, the company signed a $5 billion deal with Indonesian nickel processing companies to source more of the materials it needs. According to Reuters:
“Southeast Asia’s largest economy is trying to get Tesla to set up a production facility in the country, which has huge nickel reserves. President Joko Widodo met with Tesla founder Elon Musk earlier this year to drum up investment.
“‘We continue to talk to Tesla … but they started buying two great products from Indonesia,’ Coordinating Minister for Maritime and Investment Affairs Luhut Pandjaitan said in an interview broadcast on Monday.
“He said that Tesla has signed a five-year contract with nickel processing companies operating out of Morowali on the island of Sulawesi. The nickel materials will be used in Tesla’s lithium batteries.”
But the deal did not come without its fair share of criticism. Before Tesla signed a five-year deal to buy nickel from Indonesia, environmental groups called on the company to find other suppliers of the metal.
In July, Environmental and human rights groups wrote a letter to Tesla boss Elon Musk urging him to avoid investing in Indonesia’s nickel mining industry. They warned that such investment could lead to “mining that causes environmental degradation and harm to Indonesian indigenous communities.”
Reverse: And Us Still Nothing Done About that
Neutral: Daniel Ricciardo Not Fired, Yetc
This past week, I woke up every morning and checked to see if the happiest man in F1 still had a job. And now, he does. Australian racer Daniel Ricciardo has yet to be dropped by McLaren, despite rumors that he is is about to be ousted in favor of Oscar Piastri.
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