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- 👀 Auto Industry Update: EV Charging Wars, Stellantis’ Survival Mode, and the Cheapest EV Challenge
👀 Auto Industry Update: EV Charging Wars, Stellantis’ Survival Mode, and the Cheapest EV Challenge
TL;DR: EVs are charging up fast, but not without drama. Stellantis is in “survival mode,” unions are fired up, and BYD could sell the cheapest EV in the U.S., even with tariffs. Dealers, get ready: the EV revolution’s messy, competitive, and full of surprises—but hey, business as usual, right?
Today's Email
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🔌 EV Charging News Update: More Plugs, More Problems?
The EV charging landscape is changing fast. Automakers are racing to build networks and tech that make EV ownership easier. Here’s the latest rundown:
Ford, BMW, and Honda’s ChargeScape is Live
ChargeScape is the new kid on the block—a joint venture by Ford, BMW, and Honda designed to make your EV’s battery do more than just drive. It wirelessly connects EVs to utilities, manages home charging, and even sends power back to the grid during peak hours.
Translation: They’re turning EVs into power banks. This platform helps avoid the mess of individual automakers striking separate deals with utility companies.
GM's Tesla Charging Adapter is Now Available
GM’s approved NACS adapter is here for $225, allowing its EV drivers to use Tesla’s extensive charging network. With access to 232,000 public chargers, including 17,800 Tesla Superchargers, it’s a game-changer.
Looks like GM, Ford, and even Hyundai are hopping on Tesla’s charging plug bandwagon. If you can’t beat ‘em, join ‘em, right?
Other Industry Collaborations
Joint Charging Network: Seven automakers, including BMW, GM, Honda, and more, are banding together to build their own North American charging network. Strength in numbers or just another club we weren’t invited to?
Future EV Compatibility: Automakers are making sure future models come equipped with universal charging standards. The EV charging experience is about to get a whole lot smoother—finally.
The Big Picture: All these efforts point to one thing—getting EVs to play nice across the board, making the EV future more connected and accessible. But will it be enough to win over skeptical drivers?
⛺️ Stellantis Updates: In "Survival Mode" and Marketing Mishaps
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Stellantis Faces “Survival Mode” Amid EV Push
CEO Carlos Tavares didn’t mince words when he called the auto industry’s situation “survival mode.” The challenge? Making EVs as cost-effective as gas cars while government incentives are drying up in Europe.
Europe’s regulators are tightening the screws, demanding more EVs to meet emissions targets by 2025. Meanwhile, the market’s cooling off, and the production of favorites like the Fiat 500e has been put on ice due to weak demand.
Tavares' take: "My cars are ready... Why delay?" The man’s got a point, but will consumers and regulators see it the same way?
Maserati’s Sales Slump Blamed on Marketing
Maserati’s delivery numbers have hit a wall, dropping from 15,300 to 6,500 cars in the first half of 2024. Tavares blames ineffective marketing, not the product itself.
His strategy? Better targeting of potential customers and more precise messaging to position Maserati properly.
Despite past warnings about possibly shutting down underperforming brands, Stellantis is sticking with Maserati, betting on new models like the fully electric GranCabrio Folgore. A bold move or wishful thinking?
So wait... Is Stellantis really in survival mode?
If you ask Tavares, yes. But with plans to electrify and the Maserati revamp underway, they seem more like they’re gearing up for a fight.
👩🏭 Labor Talks and Challenges in the Auto Industry: The Tug-of-War Continues
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Canadian Union Unifor and GM Reach Tentative Agreement
After tense negotiations, Unifor reached a tentative deal with GM for workers at its CAMI plant in Ontario. It came down to the wire, with a 97% vote in favor of striking if no deal was made.
This is GM's first full-scale EV manufacturing plant in Canada, so you can bet all eyes were on how this would play out. Labor relations are key as the industry pivots to electric.
UAW Files Unfair Labor Charges Against Stellantis
The UAW has had it with Stellantis, accusing the automaker of contract violations, including trying to move Dodge Durango production out of the U.S.
UAW President Shawn Fain says Stellantis is backing out of its 2023 contract commitments. Stellantis says, "Not true." Who’s right? Stay tuned as this drama unfolds.
Teamsters Consider Presidential Endorsement
The Teamsters are debating which presidential candidate to endorse for 2024. With 1.3 million members, their decision will be a big deal in key battleground states.
They’ve met with VP Kamala Harris and had talks with Donald Trump. The union’s got options, but they're playing it close to the vest.
French Auto Supplier Association Warns of Job Losses
Over in France, auto suppliers are feeling the heat. The Federation of Vehicle Equipment Industries warns of potentially losing half their jobs in the next five years due to declining car sales and EV competition from China.
Another reminder that the industry’s transition to EVs isn’t just about cars; it’s about livelihoods.
💰️ BYD Remains the Cheapest EV in the U.S., Even With a 100% Tariff: Wait, What?
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BYD’s Cost Advantage
Even with a 100% tariff, BYD would still offer the cheapest EV in the U.S. market. Their Seagull EV, priced at under $10,000 in China, would still be less than $25,000 here.
With BYD’s experience in battery production, their cost-cutting abilities put pressure on U.S. automakers who still struggle to bring EV prices down.
Market Implications
BYD has no plans to enter the U.S. market anytime soon, but their pricing strategy should raise some eyebrows among American automakers. The tariff might slow things down, but can it really stop a juggernaut like BYD?
Industry Response
Ford's CEO Jim Farley even acknowledged BYD’s prowess, calling the Seagull “pretty damn good.” The bottom line? If the U.S. wants to keep up, building a solid domestic EV supply chain isn’t just a good idea—it’s a necessity.
The EV Revolution is Here, But It’s Messy
Dealers, brace yourselves. The push for electrification is bringing new tech, tougher negotiations, and some real competition. From GM adapters to Stellantis scrambling for survival and BYD looming on the horizon, it’s clear: the EV future is here, and it’s not waiting for anyone.
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