🗺️ Auto News from The US, China, and Europe

Rivian’s workers are literally getting banged up, while their stock takes a tumble. Meanwhile, the U.S. government races to secure EV grants, Ford hands out massive F-150 Lightning discounts, and GM’s $35K Equinox might steal the SUV show. Across the pond, Volvo faces a premium EV slowdown, Germany courts India as an economic partner, and Jaguar is busy building vintage E-Types with Bluetooth—because who doesn’t need a heated windscreen on a classic roadster? Oh, and Chinese self-driving cars are quietly racking up miles on U.S. roads.

Rivian’s shiny reputation is taking a hit both on the production floor and in its stock price. Workers are getting injured, and demand is falling—let’s just say Rivian’s going through some serious growing pains.

Bits:

The U.S. government is moving fast on its $1.7 billion grants for EV plant conversions, but politics are heating up as the 2024 election nears. U.S. Energy Secretary Jennifer Granholm emphasized the Biden administration’s commitment to making the U.S. a leader in electric vehicle production, but not without some major political roadblocks.

While the government is busy with grants, Ford is quietly offering huge discounts on its F-150 Lightning to keep EV adoption on track. Fleet buyers could stack up to $22,500 in rebates and discounts.

Ford’s strategy of incentives may be a small piece of the bigger EV push, but it shows how automakers are navigating the political and economic complexities of the EV transition, one fleet sale at a time.

The Google-Qualcomm partnership announcement sounds great, until you try to figure out what they're actually doing. Spoiler: they're adding AI to your car’s dashboard, but the details are buried under layers of jargon.

Oh, nothing much—just “generative AI-enabled digital cockpits.” Yeah, you’ll get “immersive map experiences” and “real-time updates” powered by Snapdragon chips. All we need now is for your car to start a podcast while you’re driving.

Apparently, automakers did! Qualcomm will lead the charge in customizing AI solutions with automakers to meet their needs. That said, they haven’t named any automakers who are ready to jump on this bandwagon. Guess it’s a case of “build it and maybe someone will want it?”

Do we need our cars to “anticipate driver needs”? The short answer: probably not. But when your car suggests it’s time for a coffee break before you even feel tired, you’ll know that Google and Qualcomm were just looking out for you.

Once Europe’s most promising air taxi startup, Lilium is now fighting for survival. After being denied a €50 million loan from the German government, Lilium is scrambling to raise emergency funds from the state of Bavaria. Their ambitious plan to develop flying cars (or eVTOLs) is facing turbulence, and if they can’t secure funds soon, Lilium could crash-land before takeoff.

Lilium’s financial woes come at a bad time. The eVTOL market is still in its infancy, and developing these futuristic vehicles has proven to be more expensive and difficult than expected. Despite partnerships with major airlines and airports, Lilium needs significant capital to stay afloat.

Japanese automakers are feeling the heat as BYD rolls out budget-friendly EVs that outperform and underprice local competitors. At a recent EV seminar in Japan, BYD’s Atto 3 SUV, priced at just $30,000, stole the show, leaving attendees wondering how BYD can build vehicles so cheaply.

The secret to BYD’s success is vertical integration. Unlike traditional automakers, BYD builds nearly all its components in-house, slashing costs and improving efficiency. This approach allows them to sell EVs like the Atto 3 and Dolphin for far less than rivals, positioning them as a major threat to the Japanese auto industry.

Chinese tech giant Xiaomi is set to complete its expanded EV factory by mid-2025, further pushing into the automotive sector. Similar to BYD, Xiaomi aims to challenge global competitors with affordable electric vehicles.

Chinese companies have been quietly testing their autonomous vehicle technology on U.S. roads for years, logging millions of miles in states like California. While these tests have helped companies like Baidu and WeRide make strides, they’ve also raised national security concerns in the U.S.

With vehicles gathering data on U.S. infrastructure and traffic patterns, experts worry about the potential for surveillance. Some lawmakers are pushing for a ban on Chinese-connected vehicles, citing concerns over data privacy and national security.

General Motors (GM) just had its best stock day since 2020, thanks to a massive Q3 performance that beat Wall Street expectations. GM raised its full-year guidance, and shareholders are cheering.

Despite strong North American results, GM is struggling in China, where it reported a $137 million loss in Q3. The company is working on restructuring its operations in the world’s largest auto market, hoping for a turnaround.

Amid its strong Q3 performance, GM is launching the affordable $35,000 Chevy Equinox EV with up to 319 miles of range, aiming to capture the mass market. This move positions GM to compete with rivals like Toyota in the growing electric SUV market.

Volvo started the year with high hopes, but the road ahead is getting bumpy. The EV market is cooling, especially for high-end models, forcing Volvo to pump the brakes on its sales forecast.

While Volvo grapples with demand, German automakers are diversifying their supply chains. As tension with China rises, Germany is hedging its bets on India’s growing market.

While everyone’s racing toward the electric future, Jaguar is taking a pit stop in the past. The British automaker is hand-building two E-Type Commemoratives for a Southeast Asian client, merging classic luxury with modern tweaks.