🏄‍♂️ New-Vehicle Market Stabilizes as Rivian Launches Tri-Motor Trucks and U.S. Invests $3 Billion in Battery Manufacturing

TL;DR: The new-vehicle market is stabilizing post-cyber tantrum with 2.84 million units available. Rivian rolls out tri-motor trucks, while the U.S. drops $3 billion on battery projects. Meanwhile, Ineos Grenadier production is stalled until 2025 due to supplier woes, and Alef’s flying car pre-orders soar. Buckle up!

Today's Digest

• ⚖️ New-Vehicle Inventory Stabilizes as Sales Incen …

• 🔋 Rivian Ships Gen 2 R1T and R1S EVs with Tri-Mot …

• 🤑 U.S. to Award $3 Billion for Battery Manufactur …

• 👷 Work Truck Tech

• ⏸️ Ineos Grenadier Production Halted, Possibly Unt …

• 🦋 Electric Flying Car Maker Alef Secures Mass Man …

BUSINESS

⚖️ New-Vehicle Inventory Stabilizes as Sales Incentives Increase and Model Year 2025 Vehicles Arrive

As of September 5, 2024, the new-vehicle market has dusted itself off and stabilized after a cyber breach tantrum. Here’s what you need to know:

• Total Inventory: 2.84 million units, because who doesn’t love choices?

• Days’ Supply: 77 days, a smidge below the average but still better than last year’s chaos.

• Sales Incentives: Average incentive now at 7.2% of the average transaction price (ATP)—that’s $3,458 off your next shiny ride!

• Average Listing Price: $46,841—down 1% from last month, but don’t get too excited.

• Affordable Options: About one-third of available models are listed below $46,000—compact SUVs like the Toyota RAV4 are stealing the show.

• Year-over-Year Sales: 14% increase, proving that people still want to drive, even after the latest tech fiascos.

🔋 Rivian Ships Gen 2 R1T and R1S EVs with Tri-Motor Powertrains

Rivian's Gen 2 R1T and R1S feature a tri-motor setup with 850 horsepower, 405-mile range, starting at $99,900, but electric trucks remain a niche market.

What’s new with Rivian’s EVs? Rivian’s Gen 2 R1T and R1S now feature a tri-motor setup with 850 horsepower.

What’s the range? Up to 405 miles in conserve mode.

What’s the starting price? $99,900—cheaper than Tesla’s Cybertruck.

Are electric trucks selling? Not really. They’re still a small part of the EV market.

🤑 U.S. to Award $3 Billion for Battery Manufacturing Projects

In a power move to cut ties with China, the U.S. Energy Department is showering $3 billion on 25 battery projects across 14 states. Let’s break it down:

• Total Investment: The projects are expected to generate a whopping $16 billion. Talk about a cash splash!

• Job Creation: Roughly 12,000 jobs—because who doesn’t want to work in battery heaven?

• Key Recipients:

  • Albemarle Corp: $67 million for anode materials in North Carolina. They’re going to be busy.

  • Honeywell: $126.6 million for electrolyte salts in Louisiana. Electrolytes? Sounds refreshing!

  • Dow: $100 million for battery-grade carbonate solvents—how sweet!

  • Clarios Circular Solutions: $150 million for recycling lithium-ion battery scraps—saving the planet one scrap at a time.

• Future Focus: These investments are critical for securing mineral resources and advancing next-gen battery tech—because the future is electric!

👷 Work Truck Tech

Bollinger Motors has launched its B4 Class 4 electric truck, featuring a 158-kilowatt-hour LFP battery that provides a 185-mile range at 50% load and a 323-horsepower rear motor. Designed for simplicity, it offers advanced driver assistance systems and over-the-air updates, starting at $158,758. Federal incentives may reduce costs by up to $40,000.

Meanwhile, CATL's TECTRANS battery system revolutionizes charging with a 15-minute, 70% charge capability, and a lifespan of 15 years. Its energy density of 175Wh/kg improves range for electric buses and trucks, promising up to 30% operational cost savings when transitioning from diesel. Together, these innovations signal a significant shift toward sustainable and efficient commercial vehicles, likely paving the way for advancements in personal electric vehicles soon.

⏸️ Ineos Grenadier Production Halted, Possibly Until 2025

Ineos Grenadier production is halted due to a critical component shortage, speculated to involve bankrupt supplier Recaro, with full production expected to resume in 2025.

What’s happening with the Grenadier? Production is halted due to a “critical component” shortage.

Who’s the culprit? Speculation points to Recaro, which filed for bankruptcy.

When will production resume? Full production might not restart until 2025.

Are customers still supportive? They’ve received positive feedback but can’t deliver right now.

🦋 Electric Flying Car Maker Alef Secures Mass Manufacturing Deal as Pre-Orders Top 3,200

Alef Aeronautics is making significant strides in electric flying car technology, recently signing a mass manufacturing agreement with PUCARA Aero and MYC for aviation-grade parts. This milestone comes as pre-orders for their Model A flying car exceed 3,200, translating to potential revenue of $750 million.

The Model A, which can drive up to 200 miles and fly 110 miles, is priced at $300,000. Alef, which began taking reservations in October 2022, became the first electric flying car to receive a Special Airworthiness Certification from the FAA. The company aims to start production in Q4 2025, with deliveries to follow soon after.

CEO Jim Dukhovny emphasized the importance of partnering with manufacturers known for their safety records and compliance with aviation regulations. Alef is also developing a second model, the Model Z, expected to launch in 2035 at a more affordable price of $35,000.

That’s today’s headlines, check back tomorrow for more from all over the world of auto business, tech, culture, and jazz.