Cars Clips: September 23, 2024

 

 

White House Touts $1 Billion Fund To Help Auto Suppliers Retool For EVs — “Investment firm Monroe Capital LLC said on Monday it plans to launch a fresh fund of up to $1 billion to provide loans for smaller auto suppliers as the industry shifts from gasoline-powered to electric vehicles. The White House said the fund would ‘facilitate access to lower cost capital for small- and medium-sized auto manufacturers to refinance, grow, and diversify their businesses’ and noted that more than 250,000 people across the United States work for small- and medium-sized auto suppliers. The Drive Forward Fund LP is expected to be backed by low-cost government-guaranteed lending through a U.S. Small Business Administration license for the fund. Also Monday, the U.S. Treasury Department announced a $9.1 million grant to launch the Michigan Auto Supplier Transition Program to help smaller firms secure financing for EV components’ production. New U.S. government tariffs on Chinese EVs and on batteries, components and critical minerals along with restrictive EV tax credit rules are prodding automakers to shift their supply chains. Automakers face stringent new emissions rules that are also pushing them to build cleaner vehicles requiring new parts.” [Reuters, 9/23/24 (=)]

 

New US Fund To Support Suppliers — “The White House has selected Monroe Capital LLC to develop a first-of-its-kind investment strategy focused on supporting businesses operating in the US automotive supply chain. Along with the advisory support of MEMA, The Vehicle Suppliers Association and the Alliance for Automotive Innovation, Monroe intends to launch this new strategy (the Drive Forward Fund LP ) to help address this key White House initiative. The fund will seek to raise up to US$1bn and focus on investing in companies that play a pivotal role in fueling growth and innovation within the $1 trillion US automotive industry. Monroe will develop this strategy to support small and medium-sized companies operating within the automotive value chain that are essential to the growth and modernisation of the U.S. automotive industry. The fund will target suppliers and manufacturers, as well as other adjacent businesses that provide complementary products and services to the industry.” [Just Auto, 9/23/24 (=)]

 

Biden Touts $1B For Auto Suppliers To Retool For EVs — “Investment firm Monroe Capital LLC said Monday it plans to launch a fresh fund of up to $1 billion to provide loans for smaller auto suppliers as the industry shifts from gasoline-powered to electric vehicles. The White House said the fund would ‘facilitate access to lower cost capital for small- and medium-sized auto manufacturers to refinance, grow, and diversify their businesses’ and noted that more than 250,000 people across the United States work for small- and medium-sized auto suppliers. The Drive Forward Fund LP is expected to be backed by low-cost government-guaranteed lending through a U.S. Small Business Administration license for the fund. Also Monday, the U.S. Treasury Department announced a $9.1 million grant to launch the Michigan Auto Supplier Transition Program to help smaller firms secure financing for EV components’ production.” [Newsmax, 9/23/24 (=)]

 

 

House

 

House Passes GOP Push To Nix EPA Auto Emissions Regs — “The Republican-controlled U.S. House of Representatives on Friday passed a resolution that would block implementation of the Biden administration’s tighter greenhouse gas emissions standards for cars and light trucks, though the legislation is likely dead on arrival in the Democratic-controlled Senate. By a 215-191 vote, the House passed a disapproval resolution under the Congressional Review Act to overturn the U.S. Environmental Protection Agency’s emissions standards for passenger cars, light trucks and medium-duty vehicles starting in the 2027 model year. The new standards, published in the Federal Register in April, are already being challenged in the D.C. Circuit, with challengers arguing the agency is effectively mandating a shift to electric vehicles. Eight Democrats joined 207 Republicans in voting for the resolution, while 1 Republican joined 190 Democrats in voting against it. ‘By setting emission standards that only electric vehicles can meet, this rule effectively picks winners and losers in the marketplace,’ House Speaker Mike Johnson, R-La., said in a statement Friday. ‘Congress has a duty to step in and protect the rights of consumers.’” [Law360, 9/20/24 (=)]

 

U.S. House Votes To Overturn Biden Vehicle Emissions Rule — “The U.S. House voted largely along party lines Friday to adopt a bill that would overturn a key Biden administration rule on tailpipe emissions from new vehicles amid a campaign season battle over electric cars. The Michigan House delegation voted along party lines, and the measure now heads to the Senate for consideration. The move was months in the making, with congressional Republicans objecting to the regulations since the U.S. Environmental Protection Agency finalized them in March. The measure was led by Republican U.S. Rep. John James of Shelby Township, who criticized what he called a ‘government takeover of our American automotive industry.’ U.S. Rep. John James, R-Shelby Township, spoke against the Biden emissions rule, saying it ‘will cripple the trucking and shipping industries and drive up costs.’ ‘Nobody here is against battery electric vehicles, but we are against telling the American people what they can do with their money and when they can do it,’ James said during Friday’s floor debate. ‘This mandate will cripple the trucking and shipping industries and drive up costs. ... Biden’s extreme EV agenda threatens 77,000 manufacturing jobs in my district alone, the No. 1 manufacturing district in the nation. This is not just bad policy for Michigan. It’s bad for the country.’” [The Detroit News, 9/20/24 (=)]

 

House GOP Pass Bill That Would Kill Thousands, Increase Fuel Costs $100B/Yr — “House Republicans have passed a bill attempting to block new emissions standards that will save thousands of lives and reduce fuel, health and climate costs for Americans by $100 billion per year. Thankfully, however, the bill will likely die in the Senate, and will be vetoed even if it doesn’t. The bill was passed today with a vote of 215-191, notably receiving less support than a full 220-vote Congressional majority would entail due to 25 members who did not vote (for various reasons – often, at this time of year, this includes campaigning). The bill was voted for by 207 republicans and 8 Democrats (Caraveo, Cuellar, Davis (NC), Golden (ME), Vicente Gonzalez, Kaptur, Peltola, and Perez), and was voted against by 190 Democrats and 1 Republican (Fitzpatrick). The one-sentence bill simply states that the new EPA emissions standards ‘shall have no effect.’ This is not the first time House republicans have tried to repeal this same rule. Last December, they passed another bill attempting to block the rule before it was finalized. At the time, and now, they made a big show of blocking an EV ‘mandate,’ but the rule in question does not include a mandate.” [Electrek, 9/20/24 (=)]

 

Emissions Resolution Passes House — “The House in a 215-191 vote Friday passed a GOP-led Congressional Review Act resolution, with eight Democrats in support, that would scrap the EPA’s recent tailpipe emissions rule on light- and medium-duty vehicles. Republicans criticize the rule as an electric vehicle ‘mandate.’ (It’s unclear how the measure will fare in the Senate.) — The White House in a Friday statement said that disapproval of the rule would ‘generate uncertainty for the U.S. auto market and supply chains’ and ‘artificially constrain consumer vehicle choice, weaken U.S. manufacturing and energy security, and harm public health.’ The administration said Biden would veto the resolution if it lands on his desk.” [Politico, 9/23/24 (=)]

 

8 Democrats Vote To Ax Biden’s EV Rule — “Eight Democrats voted with House Republicans in favor of overturning a Biden administration rule that’s expected to force automakers to make a significant portion of their fleet electric. The Democrats who voted in favor of overturning the rule were Reps. Yadira Caraveo (Colo.), Henry Cuellar (Texas), Don Davis (N.C.), Marie Gluesenkamp Perez (Wash.), Jared Golden (Maine), Vicente Gonzalez (Texas), Marcy Kaptur (Ohio), and Mary Sattler Peltola (Alaska). All eight Democrats represent districts that are highly competitive in this fall’s election. One Republican, Rep. Brian Fitzpatrick (Pa.), voted with the rest of the Democrats against axing the rule. Fitzpatrick also represents a competitive district, though it is rated as likely Republican by the nonpartisan Cook Political Report. The effort is not expected to actually result in the rule being eliminated; if the resolution that passed the House 215-191 makes it past the Senate, President Biden would veto it.” [The Hill, 9/20/24 (=)]

 

 

Seeking To Counter China, US Awards $3 Billion For EV Battery Production In 14 States — “The Biden administration is awarding over $3 billion to U.S. companies to boost domestic production of advanced batteries and other materials used for electric vehicles, part of a continuing push to reduce China’s global dominance in battery production for EVs and other electronics. The grants will fund a total of 25 projects in 14 states, including battleground states such as Michigan and North Carolina, as well as Ohio, Texas, South Carolina and Louisiana. The grants announced Friday mark the second round of EV battery funding under the bipartisan infrastructure law approved in 2021. An earlier round allocated $1.8 billion for 14 projects that are ongoing. The totals are down from amounts officials announced in October 2022 and reflect a number of projects that were withdrawn or rejected by U.S. officials during sometimes lengthy negotiations. The money is part of a larger effort by President Joe Biden and Vice President Kamala Harris to boost production and sales of electric vehicles as a key element of their strategy to slow climate change and build up U.S. manufacturing. Companies receiving awards process lithium, graphite or other battery materials, or manufacture components used in EV batteries.” [Associated Press, 9/20/24 (=)]

 

Biden Awards $3 Billion To Boost Domestic Battery Production — “American Battery Technology Co. and lithium-producer Albemarle Corp. are among 25 companies getting more than $3 billion in funding from the Biden administration to boost domestic production of advanced batteries and components. The funding — part of a broader White House goal of creating an American battery supply chain — is going to projects that are building, expanding or retrofitting facilities to process critical minerals, build components and batteries and recycle materials, the Energy Department said Friday. American Battery Technology received $150 million to build a commercial-scale lithium-ion battery recycling facility in South Carolina. Albemarle is getting $67 million to retrofit a facility to manufacture commercial anode material for next-generation lithium-ion batteries around Charlotte, North Carolina. Other projects included $50 million for Cabot Corp. and $225 million for SWA Lithium LLC, a joint venture of Standard Lithium Ltd. and Equinor ASA.” [Bloomberg, 9/20/24 (=)]

 

DOE Announces $3 Billion In Support Of Vehicle Battery, Mineral Projects — “The Department of Energy (DOE) is announcing a second round of pending awards under an infrastructure law program supporting investments in the domestic supply chain for batteries and related materials for electric vehicles and energy storage, touting over $3 billion in awards for 25 projects in 14 states. The Sept. 20 announcement comes almost two years after DOE announced the first round of preliminary awards to 20 companies, under a $7 billion infrastructure law program for critical minerals. DOE says in a summary list of the new and previously announced projects that it made final awards of $1.82 billion for 14 projects participating in the first round. The new $3 billion announcement comes as the Biden administration is continuing to disburse as much infrastructure law and Inflation Reduction Act funding as possible for clean energy or clean manufacturing, while touting economic investments initiated under Biden’s tenure in the lead up to the November election that could have large implications for federal energy policy.” [Inside EPA, 9/20/24 (=)]

 

U.S. To Supercharge Battery Production With New $3 Billion Push — “After lagging behind China for years in the battery industry, the U.S. is taking serious steps to catch up According to Inside EVs, ‘and localize its electric vehicle battery supply chain by boosting domestic production. The Biden-Harris administration today awarded an additional $3 billion to support the build out of local factories of critical materials, components and battery recycling. This is the second round of funds being awarded as part of a broader $16 billion investment to build America’s battery industry. The U.S. Department of Energy will distribute the funding among 25 projects across 14 states. Majority of the projects are going to the Carolinas, with six of the 25 projects located in South Carolina alone (Check out the full list below). Overall, the latest round of funding is expected to generate 12,000 construction and manufacturing jobs, according to the DOE.” [Inside EVs, 9/20/24 (=)]

 

 

The 25 Battery Tech Startups That Just Got A Piece Of $3B In Federal Funds   — “The federal government is handing out another $3 billion to startups in the buzzy battery tech sector. The investment, which the Biden administration announced Friday, is the latest injection of capital to come from a $16 billion pot that the Department of Energy set aside to build out local battery manufacturing, processing, and recycling facilities. It’s part of the broader Inflation Reduction Act, which passed into law in August 2022 and includes incentives to boost the domestic battery industry and reduce reliance on the world’s battery incumbent, China. This tranche of funding went to startups across 14 states, but there were certain winners that will see the bulk of the expected 18,000 jobs to be created as a result of this funding. South Carolina companies secured the most funding, with five projects being awarded $850 million. For example, Cirba Solutions grabbed a $200 million bag to build, own, and operate a facility to process large-scale battery-grade salts to support the electric vehicle market.” [TechCrunch, 9/20/24 (=)]

 

Energy Department Announces $3B To Bolster Advanced Domestic Battery Manufacturing — “The Department of Energy on Friday announced $3 billion in funding to bolster battery manufacturing in the United States. The funding, which is part of the Biden-Harris Administration’s Investing in America agenda, will be distributed across 14 states for 25 projects to increase domestic production of advanced batteries. The Energy Department’s Office of Manufacturing and Energy Supply Chains will administer the projects, which will retrofit, expand, and build new domestic facilities for battery-grade processed critical minerals, battery components, battery manufacturing, and recycling. ‘We’re in the midst of a manufacturing revival in the United States as the Biden-Harris Administration’s Investing in America agenda continues to breathe new life into communities and local economies across the country,’ U.S. Secretary of Energy Jennifer M. Granholm said.” [UPI, 9/20/24 (=)]

 

US Announces $3 Billion In Funding For New Battery Projects — “The US Department of Energy announced today plans to dole out more than $3 billion to over two dozen battery projects across 14 states. The money will go toward processing critical minerals, building batteries and their components, and recycling batteries. It’s part of the Biden administration’s push for more domestic manufacturing to support its climate goals. Batteries are an increasingly hot commodity needed for electric vehicles and to store renewable energy from solar and wind projects. New battery facilities are cropping up all over the US thanks in part to federal support in the form of grants, loans, and tax incentives. New battery facilities are cropping up all over the US The funding comes from the Bipartisan Infrastructure Law passed in 2021. The 25 projects announced today have been selected for awards, but will still need to go through a negotiation process with the Department of Energy (DOE) and complete an environmental review to receive any money. The DOE predicts the funding will create 12,000 jobs, 8,000 of which would be in construction.” [The Verge, 9/20/24 (+)]

 

 

Biden Administration Proposes Expanding Tax Credits For EV Charger Installations — “Dive Brief: The Biden administration on Wednesday proposed a new rule that aims to expand access to electric vehicle chargers, providing for individual tax credits up to $1,000 and business credits up to $100,000 for installation of clean transportation equipment across most of the country. The tax credits would only be available in low-income and non-urban census tract areas, making about two-thirds of the U.S. eligible for the incentives, the U.S. Department of the Treasury said. Along with EV chargers, the credits will be accessible for other clean fuel infrastructure investment, such as hydrogen refueling. The incentives ‘will be particularly valuable to communities that live near warehouses, who are often exposed to toxic vehicle pollution from the delivery trucks that pass through their neighborhoods every day,’ Sierra Club’s Clean Transportation for All Director Katherine García said in a statement.” [Smart Cities Dive, 9/20/24 (+)]

 

 

EV Battery Co. Hit With $207M Default Loss For Lack Of Attys — “Shareholders of electrical vehicle battery maker Romeo Power Inc. have secured a $206.8 million default win against the company after it failed to retain new counsel in a proposed class action alleging it concealed its acute shortage of high-quality battery cells before going public via a merger with a blank check company. U.S. District Judge Lorna G. Schofield issued an order on Thursday stating that Romeo Power filed a motion to withdraw counsel last year, which was granted by the court. Romeo Power was then required to retain new counsel by June 30, 2023, but no counsel has appeared on behalf of the company since then. In granting the default judgment against Romeo Power for failure to retain new counsel, Judge Schofield also granted the shareholder plaintiffs’ request for $206.8 million in damages against the battery maker. Counsel for the shareholders did not immediately respond to requests for comment on Friday and Romeo Power could not immediately be reached.” [Law360, 9/20/24 (=)]

 

 

Ford Motor Co.

 

Ford F-150 Lightning And Kia’s New EV9 Are The Most Popular EVs On Cars.Com — “As new electric vehicles hit the market, discounts continue piling up as automakers fight for sales. According to new research, the most popular EVs on Cars.com right now are the Ford F-150 Lightning, Mustang Mach-E, and Kia EV9, all of which feature massive incentives this month. Ford Lightning, Mach-E top Cars.com most popular EVs Using its extensive index of search data for vehicles on sale, Cars.com revealed a list of the most popular EVs on its site. According to the data, Ford’s all-electric F-150 Lightning pickup was the top searched EV. The Lightning was followed by Ford’s electric crossover SUV, the Mustang Mach-E. Ford is offering significant discounts in August as it looks to clear inventory. The 2024 F-150 Lightning and Mustang Mach-E are eligible for 0% APR. In addition, Ford is giving away $1,500 in Conquest Cash for Tesla drivers.” [Electrek, 9/20/24 (=)]

 

Geely

 

Volvo EX30 Continues Sales Surge As Europe’s Second Best-Selling EV In August — “Despite its small size, Volvo’s cheapest EV continued its dominant run last month in Europe. The Volvo EX30 was Europe’s second-best-selling EV, behind only the Tesla Model Y, as sales continued surging. Volvo EX30 sales continue surging in Europe in August According to new data from the European Automobile Manufacturers’ Association (ACEA), EV registration in the EU fell by 43.9% in August as the two biggest markets, Germany (-68.8%) and France (-33.1%), saw significant declines. Despite this, Volvo was one of the bright spots, as overall vehicle sales climbed 36%. With 19,605 vehicles sold last month, Volvo topped Tesla and Fiat to become the fourteenth largest automaker in the EU, UK, and EFTA countries, according to Dataforce. Volvo’s growth was largely thanks to the new EX30, which added 6,377 in sales to its total. The growth was enough to become Europe’s second best-selling EV, behind only Tesla’s Model Y.” [Electrek, 9/20/24 (=)]

 

Volvo EX30 Is Crushing It In Europe: Is The U.S. Next? — “Hats off to Volvo. Its smallest electric SUV, the EX30, is absolutely crushing it in Europe. The pint-sized EV shot up the charts to become Europe’s second-best-selling EV in August, but it was overshadowed only by the Tesla Model Y. The first EX30 deliveries in Europe started last December, meaning the car has been on sale for only a few months. Since then, it’s become the automaker’s fourth top-selling car—not just EV—in its global lineup. Keep in mind that EV registrations in the EU fell by 43.9% in August, according to the European Automobile Manufacturers’ Association. Despite this, Volvo’s EV registrations actually increased by 36%, and it has the EX30 to thank. This kind of sales boom is the same success that automakers dream about. And if Europe’s adoption of the vehicle is an indication of what can be expected when the car launches in the U.S. next year, well, let’s just say that Volvo clearly has a massive hit on its hands.” [Inside EVs, 9/20/24 (+)]

 

General Motor Co. (GM)

 

2024 Cadillac LYRIQ Buyers Could Score $10,500 In Discounts — “The all-electric Cadillac LYRIQ was an Electrek favorite when it first made its debut two years ago. Now, LYRIQ buyers who have been waiting for a deal can score more than $10,500 in discounts on the Ultium-based Caddy. Our own Seth Weintraub said that GM had come in, ‘a year early and dollar long at $60K’ when he first drove the Ultium-based Cadillac LYRIQ back in 2022. He called the SUV ‘a stunner,’ too, heaping praise on the LYRIQ’s styling inside and out before adding that the EV’s ride quality really impressed on long journeys. Well, if the first mainstream electric Cadillac was a winner at its original, $57,195 starting price (rounded up to $60K for easy math), what could we call it at $10,500 less?” [Electrek, 9/22/24 (+)]

 

Tesla, Inc.

 

Elon Musk Steps Up Political Giving With 6-Figure Donation To House Republicans — “Controversial tech magnate Elon Musk stepped up his political giving in August, giving his largest-known political donation ever to boost House Republicans’ efforts to preserve their vulnerable majority. The National Republican Congressional Committee reported receiving $289,100 from Musk in August, according to its report filed with the Federal Election Commission Friday. The money came through a joint fundraising committee linked to Rep. Ken Calvert (R-Calif.), the filing indicated, and most of it was earmarked for the NRCC’s convention and headquarters accounts, as is typical for donations of that amount. Musk — the richest person in the world, with an estimated net worth of over $250 billion — has given to both Democrats and Republicans in the past, but not in such significant amounts. Musk has amped up his political involvement in recent months. He has forged a relationship with former President Donald Trump, whom he is assisting by bankrolling America PAC, a pro-Trump outside group. The organization, which has undergone a leadership shuffle in recent months, is expected to play a major role in helping to turn out voters for the former president and recently began spending in competitive House races across the country as well.” [Politico, 9/20/24 (=)]

 

 

NanoGraf Corp.

 

The Feds Give NanoGraf $60M To Build A Huge EV Battery Materials Factory In Michigan — “Chicago-based NanoGraf will build a $175 million factory to produce 2,500 tons of silicon anode material to support up to 1.5 million EVs per year. The US Department of Energy (DOE) has awarded $60 million to the silicon anode battery company to help build its factory under the Bipartisan Infrastructure Law. NanoGraf’s project is one of 25 selected across 14 states to receive a portion of the over $3 billion in grants that the DOE announced today. These grants aim to strengthen domestic production of advanced batteries and battery materials in the US. NanoGraf will use the grant, in addition to its own capital, to retrofit an existing factory in Flint, Michigan. It will be one of the world’s largest silicon anode facilities, significantly boosting US efforts to onshore the battery supply chain. The company says its advanced silicon anode battery material enables stronger, lighter, and longer-lasting lithium-ion batteries.” [Electrek, 9/20/24 (+)]

 

 

Siemens AG

 

Siemens To Carve Out EV Charging Business — “Siemens (SIEGn.DE), opens new tab plans to carve out its electric vehicle (EV) charging business, Siemens eMobility, to provide opportunities for growth in the rapidly-evolving industry, the German conglomerate said on Monday. The carve-out will combine Siemens eMobility with recently acquired DC fast-charging solutions specialist Heliox, said Siemens. Across Europe, North America and Asia, the EV charging sector has been undergoing rapid growth and consolidation, with many charging companies bought up by big energy companies including Shell (SHEL.L), opens new tab and BP (BP.L), opens new tab since 2017. Heliox, focused on chargers for eBus fleets and eTrucks, has competitors including ABB (ABBN.S), opens new tab, Sweden’s Vattenfall and ChargePoint (CHPT.N), opens new tab. The acquisition of the Dutch company is targeted at extending market reach primarily in Europe and North America, Siemens said.” [Reuters, 9/20/24 (=)]

 

 

Advocacy

 

Today New York, Tomorrow The World — “Climate change might be the topic of the week in New York City, but it’s still going to be a political hothouse. World leaders and business executives will mingle at New York Climate Week and the United Nations General Assembly to discuss environmentalism and capitalism, but expect a lot of gameplanning ahead of the uncertain outcome of this year’s U.S. presidential election, Pro’s Zack Colman and E&E News’ Sara Schonhardt report, especially given the starkly different view on climate action between Vice President Kamala Harris and GOP nominee Donald Trump. There’s a lot to talk about. Harris has pledged to support investment in clean energy while also backing off her earlier criticism of fracking. Trump, on the other hand, has raised the possibility of helping GOP lawmakers gut at least parts of the Inflation Reduction Act, promised to leave the Paris Climate Accord and has told EV supporters to ‘ROT IN HELL,’ though he’s since softened that rhetoric since winning the endorsement of Tesla owner Elon Musk. John Podesta, President Joe Biden’s senior adviser for international climate policy, spoke at the opening ceremony of Climate Week.” [Politico, 9/23/24 (=)]

 

 

EV Emissions

 

EVs Are Cleaner Than Gas Cars, But A Growing Share Of Americans Don't Believe It — “Everyone knows that electric vehicles are supposed to be better for the planet than gas cars. That’s the driving reason behind a global effort to transition toward batteries. But what about the harms caused by mining for battery minerals? And coal-fired power plants for the electricity to charge the cars? And battery waste? Is it really true that EVs are better? The answer is yes. But Americans are growing less convinced. The net benefits of EVs have been frequently fact-checked, including by NPR. ‘No technology is perfect, but the electric vehicles are going to offer a significant benefit as compared to the internal combustion engine vehicles,’ Jessika Trancik, a professor at the Massachusetts Institute of Technology, told NPR this spring. It’s important to ask these questions about EVs’ hidden costs, Trancik says. But they have been answered ‘exhaustively’ — her word — and a widerange of organizations have confirmed that EVs still beat gas. But the share of car-buying Americans who believe that has gone down by 5 percentage points in the last two years, from 63% to 58%, according to data that the market research firm Ipsos shared exclusively with NPR.” [NPR, 9/23/24 (=)]

 

EV Sales & EV Transition

 

Automakers Have Backtracked On Their EV Goals By Millions Of Cars — “It’s been about a year since the big vibe shift in the electric vehicle market began. It started with a couple of automakers making solemn announcements about softening EV demand. Now, several car companies have slow-rolled their EV investments and scaled back grand plans to clean up their acts. A new report from the clean-energy research firm BloombergNEF explores—in real terms, not just vibes—how the auto industry’s cooling stance on EVs may impact the number of electric cars produced by the end of the decade. BNEF estimates that the 14 automakers who had made EV goals for 2030 will now produce a combined 23.7 million electric cars that year. That’s down from the 27 million they would’ve sold had they stuck to their targets as of late 2023. ‘While each automaker sets targets individually, they can collectively transform the global auto market if successfully implemented,’ BNEF analysts said in the report. ‘Likewise, collective reductions and scaling back spells trouble for the EV market in the years ahead.’” [Inside EVs, 9/20/24 (=)]

 

Should I Get A Hybrid Or Go Full Electric? — “For many car buyers, hybrids seem like a great compromise between gasoline and electric vehicles. Hybrids, which combine internal combustion engines and electric motors, produce less pollution and use less fuel than conventional automobiles. And, owners never need to worry about running out of battery power on a lonely highway. But while hybrids do save money for some people, that’s not always the case. And many experts and environmental groups are critical of hybrids, saying that the fuel savings are exaggerated and that they don’t cut greenhouse gas emissions as much as needed to slow global warming. Still, many car shoppers are clearly convinced of the benefits. Sales of hybrid cars in the United States were up 33 percent from January through July compared to the previous year, accounting for 11 percent of new car sales, according to government data. Here’s what to know if you’re in the market.” [The New York Times, 9/23/24 (+)]

 

The Feds Are Targeting Giant Vehicles. What Does It Mean For EVs? — “Two things are objectively true: cars are safer than they were a decade ago, but also, more people in America are dying because of them. Pedestrian and cyclist deaths in particular have skyrocketed over the past decade and change. How is that possible? More tech features in cars are almost certainly leading to more driver distraction, but the big problem is literally a ‘big’ problem. Today on our Critical Materials morning news roundup, we’ll look at what potential new federal safety regulations targeting larger cars might mean for the electric transition. Plus, investors are pretty down on Europe’s automakers, and China’s got the same urban-rural EV divide that we do. It’s Friday, so let’s close out the week strong, shall we?” [Inside EVs, 9/20/24 (=)]

 

 

California

 

Greenhouse Gas Emissions Drop Across California, Due To Clean Fuel Shifts: Regulators — “California’s greenhouse gas emissions have plunged in recent years across most sectors, falling about 2.4 percent in 2022 in comparison to the previous year, state regulators reported on Friday. The release of such pollutants declined by 9.3 million metric tons during that period, in large part due to the increased usage of clean fuels and zero-emission vehicles, according to the report, issued by the California Air Resources Board. That improvement from 2021 to 2022 alone is equivalent to removing more than 2.2 million gasoline-powered cars from California’s roads for an entire year, state officials said. From the year 2000 to 2022, overall emissions dropped by about 20 percent, while the state’s gross domestic production surged by 78 percent, the regulators noted.” [The Hill, 9/20/24 (+)]

 

Michigan

 

Michigan EV Battery Projects Win $355M In Federal Energy Grants — “A Michigan startup that aims to source critical minerals from mine waste is among four projects receiving millions in grants from the federal government aimed at boosting domestic battery production. Houghton-based Revex Technologies is poised to receive $145 million from the U.S. Department of Energy as part of $355 million in grants going to other advanced battery manufacturing projects in Muskegon, Flint and Van Buren Township.” [MLive, 9/22/24 (+)]

 

Pennsylvania

 

Federally Funded EV Charging Station Opens In Aston — “PennDOT has opened a federally funded electric vehicle charging station at Royal Farms on Route 452 in in Aston. This is the state’s third in the National Electric Vehicle Infrastructure Formula Program electric vehicle charging station to come online and is part of a five-year program in which Pennsylvania will receive $171.5 million in dedicated formula funding. The new charging station will support a total of eight ports, of which four ports are funded by NEVI and are capable of providing 150 kW of power to each vehicle simultaneously. The total NEVI funding awarded to the project was $253,826 but Tesla will own and operate the charging station. The Royal Farms station is open 24/7 and provides customers with access to the amenities while charging. ‘The Shapiro administration is aggressively investing these funds to give Pennsylvanians more clean transportation options no matter where they live,’ said PennDOT Secretary Mike Carroll in a press release. ‘As more stations are built near our highways, we are also driving toward expanded charging infrastructure in communities across the commonwealth. Pennsylvania will see more EV charging options because of this state and federal partnership, and we look forward to opening even more charging stations.’” [The Delaware County Daily Times, 9/20/24 (=)]

 

Virginia

 

In Va., Electric Vehicle Infrastructure Development Is Underway. Incentives Could Spur Growth. — “This is part three of a five-part series about Virginia’s transition to electric vehicles that examines the government’s role in the process, the private industry’s status, the development of charging infrastructure in the state, EVs’ impact on the electric grid, and how the commonwealth’s workforce may be influenced by the growing industry. Searching for a new vehicle can be challenging, but not as complex as it is to develop the infrastructure needed to power electric and low-emission vehicles at rest stops, gas stations, homes, workplaces and public areas in Virginia. To build its EV infrastructure, the state leaned on the federal government’s nationwide plan to install charging stations across major corridors around the country. In Virginia, those areas are found along Interstates 81, 295 and 495, to name a few. The commonwealth has received $61 million, with a future allocation of $45 million, from the federal government’s Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law, to build out charging stations along interstate highways, with one planned at least every 50 miles, and within one mile of federally identified designated alternative fuel corridors (AFCs). So far, the process has progressed slowly.” [Virginia Mercury, 9/21/24 (+)]

 

 

Asia

 

China Auto Association Flags Concern Over Dealership Losses To Government — “Car dealers incurred combined losses of 138 billion yuan ($19.55 billion) in the first eight months of the year as they were forced to sell new cars at sizable discounts, the China Automobile Dealers Association (CADA) said on Monday. The losses were flagged in an emergency report on the financial difficulties and shutdown risks facing dealerships amid a price war in the world’s largest auto market, which was recently submitted by CADA to relevant government authorities. Dealer inventories remain high amid sluggish consumption, forcing them to sell at low prices, the association said in a statement on its WeChat account. The overall discount rate for new cars stood at 17.4% in August, CADA data showed. The collapse of both regional and national domestic dealerships has mostly been due to ‘capital chain rupture’ rather than their own operations, according to CADA. Money-losing China Grand Automotive Services , the country’s second-largest dealership, was delisted from the Shanghai bourse in August after its stock traded below par value for 20 consecutive days.” [Reuters, 9/23/24 (=)]

 

China’s Car Dealerships Facing Losses Of Almost $20 Billion — “Car dealerships across China are facing losses of almost $20 billion as consumers hold off on making major purchases and vehicles pile up in sales lots. The country’s car retailers are experiencing ‘extremely intense liquidity’ and looking at losses of about 138 billion yuan ($19.6 billion) for the first eight months of 2024 alone, the China Automobile Dealers Association said in a statement Monday. It called on the government to more closely monitor the financial risks faced by dealerships given the widespread problems in the sector and offer more financial support. While sales of new-energy vehicles in China are relatively strong, retail passenger car sales overall are more muted, expected to rise just 4% year-on-year in September, China’s Passenger Car Association said last week. Government subsidies encouraging drivers to trade in older cars are largely responsible for the NEV sales surge but dealerships are hurting due to the industry’s continued price war.” [Bloomberg, 9/23/24 (=)]

 

China’s Electric Carmakers Warn Of EU Investment Cuts Over Tariff Threat — “Chinese car companies have warned that they will reduce investment in the EU if it imposes tariffs on electric vehicle imports next month. ‘Certain Chinese companies noted that if the EU proceeds with the imposition of additional tariffs, their existing investment plans would have to be re-evaluated as their confidence in the EU’s investment environment would be diminished,’ said the China Chamber of Commerce to the EU after a meeting with Beijing’s commerce minister Wang Wentao in Brussels. Wang held last-ditch talks on Thursday with European trade commissioner Valdis Dombrovskis in a bid to halt the tariffs. They said they will hold more discussions on the issue. A European Commission spokesperson said the anti-subsidy investigation would continue and was ‘based strictly on facts and evidence and is in full compliance with WTO rules and EU law’. Brussels’ moves to protect local carmakers with higher tariffs comes as their Chinese counterparts gain a bigger share of the Europe EV market and invest heavily in factories, dealers and marketing in the bloc. BYD, the world’s largest EV maker by sales, has one plant in Hungary and is considering building a second.” [Financial Times, 9/20/24 (=)]

 

Europe

 

Carmaker Progress Towards EU CO2 Target In H1 2024 — New Report — “The EU’s 2025 Car CO2 target is reachable and feasible After years of stagnant EV sales due to the lack of new car CO₂ targets, carmakers will face stricter standards in 2025, following the last targets set in 2021. While some carmakers have been calling to weaken the regulation, T&E shows that all carmakers can meet their 2025 targets. T&E breaks down the strategies carmakers are expected to use to comply based on modelling of compliance scenarios relying on: sales data, carmakers’ public plans, and analysis of data from market research company GlobalData. The compliance options include increasing sales of full electric cars (BEVs), mild and full hybrids (HEVs) and plug-in hybrids (PHEVs), as well as various compliance flexibilities. This analysis provides an insight into carmakers’ paths to comply with the target in 2025.” [CleanTechnica, 9/23/24 (=)]

 

EV Registrations Dropped Again In The EU In August, But There’s More To The Story — “No matter how much we try to shine a positive light on EVs around here, there’s no denying that electric car makers are having a rough time in the European Union. According to the European Automobile Manufacturers’ Association (ACEA), EV registrations went down 43.9% in August compared to the same period last year. Last month, 92,627 EVs were registered in the EU, 72,577 fewer than in August 2023. All-electric vehicles now account for 14.4% of the EU car market, down from 21% the previous year–the fourth consecutive month of decline this year, as per ACEA. Year-to-date, EV volumes in the EU dropped to 12.6% from 13.9% last year. But the story goes further than just all-electric cars.” [Inside EVs, 9/20/24 (=)]

 

 

Two Years In, US Clean Energy Manufacturing Boom Is Still Going Strong — “A sodium battery plant in North Carolina, a solar panel manufacturing facility in New Mexico, and a factory building electric sports cars in Virginia are among the $2.4 billion worth of new U.S. clean energy manufacturing projects announced in August. These investments are just the latest in the ongoing, multibillion-dollar wave of clean energy manufacturing activity spurred by the Inflation Reduction Act. … Since the law went into effect, private companies have announced a total of more than $115 billion in investments for hundreds of domestic manufacturing facilities creating solar and wind energy components, batteries, and electric vehicles, according to new figures from E2 and the research firm Energy Innovation. Those billions in investments have translated to job creation. In 2023, more than 42,000 jobs were created in the manufacturing sector for clean energy and electric vehicles, according to an E2 report. … Electric vehicle and battery makers have been the most enthusiastic investors so far, though some warning lights are flashing for the industry. Several automakers, including Toyota and Ford, recently scaled back their goals for electric vehicle production. ‘If automakers take advantage of these programs and produce electric vehicles instead of backsliding on their commitments, we will push ahead as leaders of the green transition,’ said Abhilasha Bhola, a campaign director focused on the automobile industry for consumer advocacy group Public Citizen.” [Canary Media, 9/23/24 (+)]

 

 

RESPONSES TO THIS EMAIL ARE NOT MONITORED

 

 

To receive Cars Clips and other Clean Vehicles Coalition (CVC) materials, please contact:

 

RILEY GILLIS – Program Assistant (He/Him)

(rgillis@partnershipproject.org) 

 

 

For any other questions or comments, please contact:

 

MITCH DUNN – Director of Media Monitoring and Analysis, Beehive Research (He/Him)

(mitch@beehivedc.com)

 

 

***