Electric News

Tesla’s 2021 Model 3 and Model Y EV configurators are now online, and they show substantial improvement in range for both models, along with some other improvements.

The auto union said FCA would invest in a state-of-the-art vehicle platform that will enable the assembly of plug-in hybrid and battery electric vehicles, with at least one new model in 2025. The announcement comes less than a month after Unifor said Ford Motor Co would invest C$1.95 billion ($1.46 billion) in its Oakville and Windsor plants.

In recent years, Nidec's founder Shigenobu Nagamori has turned his attention to autos, and a technology which turns electricity stored in the battery into propulsion power. This technology, called an e-axle or e-drive, is emerging as a new competitive front as the auto industry shifts to electric vehicles. By 2030, Nagamori says he wants a 35% slice of a global e-axle market that is forecast to be worth $20-30 billion a year by then, up from an estimated $2.8-$3 billion now.

The company, which is expected to report third-quarter results on Oct. 21, cut the price to $71,990 from $74,990 in the United States. Tesla said it delivered 139,300 vehicles in the third quarter, an all-time record, yet shares fell as some analysts doubted if Tesla could hit its ambitious year-end target.

Straubel aims to leverage two partnerships, one with Panasonic Corp , the Japanese battery manufacturer that is teamed with Tesla at the Nevada gigafactory, and one announced weeks ago with e-commerce giant Amazon . With production of electric vehicles and batteries about to explode, Straubel says his ultimate goal is to "make a material impact on sustainability, at an industrial scale."