TOP EV NEWS #1 – BUSY WEEK FOR VW EV STRATEGY
It has been a busy week for the VW Group as it implements its EV strategy.
In China, VW signed a letter of intent to expand its cooperation with and ownership of JAC (Anhui Jianghuai Automobile Group Co.) According to the agreement, Volkswagen will invest 1 billion euros in obtaining 50% of the holding company and increasing its stake in the two companies EV JV, effectively gaining full management rights.
Dr. Diss, CEO of Volkswagen Group, said: “Volkswagen joins hands with a strong and trustworthy partner to further promote the Group’s electrification strategy in China. At present, the rapid development of electric vehicles also brings more opportunities for JAC Volkswagen. In-depth cooperation will promote Volkswagen ’s electrification strategy in China and help the Group achieve its carbon neutrality target by 2050. ”
JAC Volkswagen aims to sell 1.5 million EVs in China by 2025 and reach carbon neutrality by 2050.
Volkswagen also invested a further ca €1 billion in battery producer Gotion High-Tech Co., Ltd. The investment gained Volkswagen a 26% stake in the battery manufacturer, to secure the supply of batteries.
In the USA, the Volkswagen board approved some of the multibillion-dollar projects it announced in July 2019 to further the VW Ford Global Alliance. The approvals will result in two co-developed EVs on VW’s MEB platform, and an equal shareholding with Ford in its ARGO AI autonomous driving unit.
TOP EV NEWS #2 – COBALT FREE BATTERIES COMING
The Chinese battery manufacturer, Honeycomb New Energy, held an online conference on a “Cobalt-Free Future,” during which it revealed two cobalt-free batteries.
Cobalt fee batteries are seen as the key to bringing the cost of batteries down to parity with combustion vehicles. Tesla is also to hold a battery day where it is expected to announce its new million-mile battery technology, which is said to be cobalt-free.
Honeycomb claims that its new cobalt-free batteries, available from the latter part of 2021, has a range of 880km (550 miles), and decrease battery decay.
The first battery pack is a 115Ah capacity pack, which consists of 590 modules and 245Wh/kg energy density. The battery is guaranteed for 15 years or 1.2 million km (750,000 miles), and fit on most modern EV platforms. The second is an L6 thin battery with a capacity of 226Ah.
The NMx cobalt-free battery chemistry has passed safety tests in both China and Europe, and are safer than traditional NCM batteries. Honeycomb proved that NMx battery has thermal stability exceeding 150 degrees celsius.
TOP EV NEWS #3 – CHEAPEST ELECTRIC CAR YET
In 2017 the GM SAIC joint venture in China, Wuling, brought us the cheapest EV at the time, the Baojun E100. Priced below $10,000 and available in some municipalities, effectively just above $5,000.
This week, Wuling Hongguang launched the Mini EV, priced at $4,200 after subsidies. The Wuling Hongguang Mini EV is available in two battery options, a 13.82kWh model version with an NEDC range of 170km (106 miles), and a 9.2kWh version with a 120km (75 miles) range.
The cheapest EV in the USA is the Chinese import Kandi K22 priced at $18,995 before incentives.
TOP EV NEWS #4 – SOME NEW EVs WE WILL SEE IN CHINA
The Chinese EV market still provides the most model options to the consumer, and traditionally the second part of the year sees the bulk of new model launches. Here are some of the H2 2020 models we gained additional specifications of during the past week.
The most anticipated EV is the compact SUV from NIO, the NIO EC6 pictured above, which will be listed in July for release in September. The NIO EC6 will be available in two power options and four range options.
Plug-n hybrid models coming to the Chinese market in the next six months include the Beijing X7 PHEV and Link & Co 06 PHEV. The Beijing X7 is the first model from the newly created BAIC marque developed on its BMFA platform.
Please follow the links to the dedicated pages of the cars above to see all the specifications available at this time.
TOP EV NEWS #5 – BMW LAUNCH NEW PLUG-IN HYBRID MODEL
BMW announced the pricing and specifications for the BMW X2 xDrive 25e Sport Active Coupé plug-in hybrid.
The X2 is available only in Europe and developed on the latest BMW eDrive technology, now in its fourth generation. The BMW X2 xDrive 25e SAC is priced from €47,250 and offers a range of 53km (33 miles) as measured on the WLTP cycle. The drivetrain pairs a 3 cylinder 1.5-liter engine with a 95hp electric motor. For the complete specs here.
BMW also announced the upgrade of the BMW 530e and BMW 530e xDrive executive sedan. The 7th Generation 5-series offer 40hp more power and a slightly smaller battery pack. The 5-series is also equipped with Level 2 driver assist technology. The 5-series plug-in hybrid line-up will be expanded to five models. The BMW eDrive technology is now also offered for the BMW 530e Touring, BMW 530e xDrive Touring, and BMW 545e xDrive Sedan.
Top 5 EV News Week 32 2020 | Cadillac Lyriq unveiled. Yet another Chinese EV startup IPO. Three new EV models launched this week.
Top 5 EV News Week 31 2020 | Successful IPO for CHJ Auto, Kandi finally enters the USA, Mitsubishi pays the cost for failing EV strategy.
Top 5 EV News Week 30 2020 | Chengdu Auto Show, Hozon Neta IPO, VW invest in China, eVito Tourer for sale