Continental expects to lose money on EV products until 2019. "The necessary development costs are the biggest challenge for our industry," says Continental CEO Elmar Degenhart. So far, he says, the company has invested more than $1.1 billion in its electric mobility business in recent years. Continental plans to increase spending on EV components, but says it shouldn't have a major impact on earnings. Degenhart says the company is on track to meet its recently adjusted profit guidance for the year, down from 8.5 percent to 6.5 percent. Read more at Automotive News Europe.
EVgo has broken ground on California's first 350-kW EV charging station. Located in Baker (home of the world's tallest thermometer!), the ultra-fast DC chargers are "seven times faster than any fast chargers currently available and represent a new level of convenience for EV charging," according to the company (Electrek points out that this statement seems to ignore Tesla's Superchargers capable of 145 kW). There currently aren't consumer passenger vehicles capable of charging at 350 kW, but this helps prepare the infrastructure for their arrival. Construction of the station, complete with four chargers, is expected to wrap up in June of 2017. Read more at Electrek.