+++ Italian-United Stes start-up AEHRA is looking to shake up the “ultra-premium” market with its supercar-styled 500 km electric SUV, which looks to take on the BMW iX and Mercedes-Benz EQS SUV. Priced from about €198.000 in the Netherlands, Aehra’s SUV will use a 3 meter long monobody chassis that houses a 120 kWh battery (currently no other car houses bigger) powering 3 motors: 1 mounted to the front axle and 2 fitted to the rear, producing 800 hp. The car will also be released unnamed. “We don’t want names to constrict the segment markets by giving the vehicles a name”, said Nada. Aehra chief designer Filippo Perini, whose back catalogue as Lamborghini design boss includes creating the Urus (for which the SUV looks to have taken some design inspiration) said the firm has “shunned the conservative constraints” of EV design. The car’s shape has also been created with efficiency in mind, to reduce drag and promote brake and battery cooling. “With the SUV, we have created a vehicle that goes far beyond the conventional standards set by the automotive industry for an SUV, and sets new benchmarks for style and comfort”, he said. “We have used a monobody construction, which, while used widely in Italy in the past, is now normally reserved for supercars only. We have taken an equally radical approach to aerodynamics, which play a central role in the design, driving characteristics and efficiency of the SUV”. The SUV gets unique features, too, including 4 upward-opening scissor doors and motorsport-inspired wingmirror cameras. It is also fitted with active aero front and rear. A sound to accompany the EV, normally pumped through the interior speakers, such as when accelerating the BMW iX, are “an open discussion”, head of design Alessandro Serra said, although he added: “We do not need to add any sound”. Nada confirmed that final figures and design for the production car depend on “ongoing partnership talks” with suppliers, but confirmed at least “95%” of the show car will make the road-going model. The interior of the car, which will be revealed in the coming months, will be bigger than competitors, Nada said, with a “lounge-type set-up” and a “supremely comfortable” environment. The SUV itself will be able to seat 5 adults all over 1,80 meter tall “comfortably”. The car measures 5,10 meter in length. Nada said: “The SUV ushers in a new era of EV style and sophistication”. First customer deliveries will begin in 2025, along with a saloon (due to be revealed in February). The second car will use the same battery as the SUV. Aehra says it will produce up to 25.000 units of each model per year. +++
+++ French sports car firm ALPINE will introduce 2 new large sporting EVs as part of a drive to capture market share outside of Europe. The Renault-owned marque, which is on track to go all-electric by 2026, has already confirmed that a new-generation A110 sports coupé, a Renault 5-based hot hatchback and a rakish-roofed sporting crossover will arrive by 2026, and has now confirmed that it will then launch EVs in the D and E segments. These 2 cars, the shapes and positioning of which have not been confirmed, will be crucial in establishing Alpine as a significant player in markets outside of Europe. In a wide-reaching update of the Renault Group’s transformation strategy, CEO Luca de Meo today confirmed that Alpine will target massive expansion outside of Europe, most notably with potential entries into North America and China. Larger, and no doubt more luxury-focused, sports cars will be crucial to attracting a market share in these markets, where such models have helped established European marques capture and maintain market share in recent years. New markets will account for an expected half of Alpine’s growth by 2030, the brand says, though it has yet to confirm any specific production or revenue targets. Some 15% of its sales will be made in markets outside Europe by 2030, it estimates. Currently, says de Meo, Alpine’s production facility in Dieppe, northern France, is “flat out” meeting capacity for today’s petrol-powered A110. The site will be configured to build the upcoming GT X-Over SUV from 2025, but it has yet to be confirmed whether it will build the newly confirmed D- and E-segment models. No doubt the 2 new cars will use a variation of the Renault Group’s CMF-EV architecture, as pioneered by the Renault Mégane E-Tech and Nissan Ariya, albeit with extensive reworkings made in line with an enhanced focus on performance, luxury and dynamic credentials. Details will not be confirmed for some time, but it is likely that the duo will use the new 272 hp EV motor entering production at Renault’s Cléon factory in 2027; perhaps even with 1 unit on each axle for 4-wheeldrive and a power output comparable to dedicated performance EVs from Porsche and Lotus. It seems Alpine is following a similar strategy to its Hethel-based rival (and technical partner) with a dual focus on dedicated electric sports cars (the upcoming A110 EV) and more luxury- or ‘lifestyle’-focused EVs, which will help it maintain an enthusiastic fanbase while targeting higher volumes in global markets. It is possible that the Alpine D-segment EV will rival the upcoming Lotus Type 133 sports saloon, and the E-segment will go up against the Eletre. As with Lotus, Alpine is keen to emphasize that its ‘racing pedigree’ will continue to play a role in product development, irrespective of market segment. Notably, both firms are also working on electric successors to their flagship 2-seat sports cars and dynamically focused compact crossovers. It remains to be seen exactly how closely the Lotus Type 136 and Alpine A110 EV will be related. The firms have agreed to work together on the development of key chassis components, but it is not known if the two cars will share batteries, motors and other structural elements. +++
+++ Electric-vehicle startup ARRIVAL said on Tuesday it does not currently have cash on hand to fund operations for the upcoming year, and there are material uncertainties about the company being a going concern. The British company had said last month it would restructure to focus on the U.S. market, seeking to capitalize on the Inflation Reduction Act incentives and a larger addressable market amid efforts to cut costs. Arrival on Tuesday reported cash and cash equivalents of about $330 million as of September 30, and said it expects cash on hand to fund the business into the third quarter of next year. Its net loss widened to $310.3 million in the third quarter from a loss of $30.6 million a year earlier. The company also said it was exploring all funding and strategic opportunities to obtain necessary funding. +++
+++ BMW applied the name “Neue Klasse” to a range of cars from 1962 to 1977, starting with the BMW 1500 that broke open a sport sedan segment and began to establish BMW as that segment’s leader. The Munich automaker resurrected the term for what it hopes will be another revolution, this time christening its new EV-focused platform the Neue Klasse (NKL). The brand has opened up about the NKL’s technical aspects over the past few weeks. Chief technical officer Frank Weber said, starting with the battery: “BMW is tied up with cell makers CATL, EVE and Northvolt on circular cells that will be 5 cm in diameter and either 10 cm inches high for use in cars or 12 cm high for use in crossovers”. That makes them the same diameter but taller than the 8 cm Tesla 4680 cells. Different cell chemistries have been developed depending on the use case, prioritizing power for M cars, low cost for entry level models, long range, or low degradation. In ideal configurations, the new cells are up to 20% more energy dense than BMW’s current packs and increase packaging efficiency by 30%, return up to 30% more range and 30% faster charging. On top of that, they’re said to be 20% lighter, cost roughly 50% less to produce, and emit an estimated 60% less CO2 emissions during production. Weber said owners will see 50 km of range added per minute at peak fast-charging rates, up to 600 km. The company told previously that EV range will max at 1.000 km. Batteries will come in capacities ranging from 75 kWh to 150 kWh, juicing 1-, 2- and 4-motor powertrains ranging from outputs of 272 hp to 1.350 hp. The M division is testing an electric prototype now; I guess it’s pushing the 4-figure mark. As for longevity, worst case is expected to be at least 80% capacity and performance after ten years of use. Engineers have developed the system with various types of recycling in mind, including a “rethink of how recycled parts can be used in new models, and how recyclable those cars can be at the end of their life cycle”. The aim is to better the stat that just 9% of materials used in making batteries get reused. BMW board member Nicolas Peter said we’d get our first look at what the NKL wants to make possible with a Vision Vehicle Concept coming to the 2023 Consumer Electronics Show in January. Mum’s the word on styling, but we should expect the “breakthrough efforts” to be edgy. The automaker’s head of Efficient Dynamics was more forthcoming about aerodynamic goals. NKL refinements are anticipated to yield a 25% gain in aerodynamic efficiency, on top of new low-rolling-resistance tires that will be 7% more efficient. An Autobahn mode when traveling above 110 kph cuts drag even more. Roadgoing versions of the NKL are due in 2025 with the debut of the new i3, the electric 3 Series, and the next-generation iX3. That same year, BMW plans to show a prototype solid-state battery, which will one day deliver another tech leap. +++
+++ CHERY is planning to enter the British market with a range of plug-in hybrid and electric models in 2026, according to the executive vice-president of the Chinese car maker’s export division, Charlie Zhang. In an interview, Zhang said Chery’s recently announced return to the Australian market after a 7-year hiatus “springboards its aspirations to enter the United Kingdom”. While stopping short of confirming what models Chery has identified for the UK, Zhang said the Australian market was a litmus test, confirming the Chinese state-owned company’s plan to enter the UK was timed to introduce an electrified model range of both plug-in hybrid and electric vehicles. “We are preparing product developments for the UK, because the electrification of the market is very fast”, he said. Zhang, who is overseeing the launch of the Chery Omoda 5 in export markets, said Australia is not just important because it is right-hand drive. “It is a highly developed market and has regulations that are similar to the EU regulations. So, it is important as a test market for the UK”, he said. In Australia, the Omoda 5 is set to compete against the MG ZS EV and Hyundai Kona Electric. The new SUV is powered by a front-mounted electric motor developing 204 hp and 400 Nm allied to a 64 kWh lithium/ion battery. Chery quotes a WLTP range of 450 km. Other recently launched Chery models identified by Zhang for new export markets, such as Indonesia, Malaysia, Mexico, New Zealand, South Africa and Turkey, include the Tiggo SUV and Arrizo saloon. A joint-venture partner to Jaguar Land Rover in China since 2012, Chery currently operates under 3 brand names, including Jetour and Exeed. The Wuhu-based company is also preparing to unveil a new upmarket brand, details of which will be confirmed in early 2023, according to Chery officials. Chery’s 2022 sales have risen by 38.8% in January to October 2022 compared with the same period last year, at 1.026.758. Included are 207.893 sales of plug-in hybrid and electric vehicles, according to figures released by the Chinese car maker. +++
+++ Winkelmann’s indifference to heritage-inspired one-offs and limited editions is well documented. At the unveiling of the Countach last year, shortly after beginning his second term at the helm of LAMBORGHINI , he told: “I left the company with the idea that we were never going to make a retro car, never ever. So I came back and said: ‘Why are we doing this now?’ But when we looked at the car and talked about it, I was happy to do it”. The Sterrato (Italian for ‘dirt road’) was first revealed in concept form in 2019 as a more rugged version of the Lamborghini Huracán Evo. At the time, a Lamborghini spokesman said that despite at least one functioning car having been built, there were no plans to put the model into production. However, one-off cars and concepts aren’t traditionally subjected to winter testing, suggesting that such a car could be headed to dealerships. Visually, the Sterrato has a far higher ground clearance than the Huracán. It has been fitted with an air intake on the roof, as well as a set of roof rails. The front bumper has also been reinforced with a stone guard, while an LED light bar is fitted to the bonnet. It doesn’t yet feature the concept’s extended wheel arches, which Lamborghini previously hinted could be 3D-printed were the car to enter production. The Sterrato concept was powered by the same 5.2-litre naturally aspirated V10 as the Huracán Evo, producing 640 hp and sending power to both axles via a 7-speed automatic gearbox. It’s expected that a customer version of the Sterrato would retain the Huracán’s rear-wheel-steering set-up but gain an adapted version of the Lamborghini Dinamica Veicolo Integrata (LDVI) driving mode system that’s more effective at finding grip on low-traction surfaces. It’s currently unclear if the Sterrato will be a one-off project, like the Aventador J and SC20 roadster, or built in greater numbers as a limited-run series, similar to the Sián FKP 37. +++
+++ LORDSTOWN MOTORS agreed to sell a substantial stake and give 2 board seats to manufacturing partner Foxconn Technology Group, replacing a previous arrangement for electric-vehicle production with a new deal. Foxconn will invest as much as $170 million in the startup through the purchase of preferred stock and 18.3% of common shares, according to a statement late Monday. The transaction will require a review by the Committee on Foreign Investment in the United States (CFIUS). Lordstown shares pared an early jump Tuesday of as much as 29% to trade up 15% to $2.12 as of 10 a.m. in New York. The stock is down about 39% this year. The move deepens ties between the 2 companies, giving Foxconn a sizeable voting interest over the next 2 years as they pursue a newly announced EV development program together. Lordstown has sought to build its Endurance electric pickup with capital from Foxconn, which has had ambitions to grow in the EV market. “It’s strengthening the strategic partnership with Foxconn”, Lordstown Chairman Dan Ninivaggi said in an interview. “It’s another step in that direction. It also provides us capital for our jointly developed EV program”. Foxconn, the Taiwanese manufacturer best known as the maker of Apple’s iPhone, can buy 9.9% of the company without a CFIUS review, but would need U.S. government approval to go beyond that. Assuming the deal is approved, Foxconn could own up to 19.9% of the common voting stock. Even if Foxconn buys more shares, it could not exceed that amount of voting stock, Ninivaggi said. The first tranche of the share sales is expected to close around November 22 as a second common-share sale is pending subject to a CFIUS review. Foxconn also has a two-year standstill on buying new shares in the open market, and has agreed not to buy more stock without Lordstown’s approval. That effectively means Foxconn would have to reopen negotiations with Lordstown to acquire more stock or eventually take over the company. Lordstown has built 12 of its first batch of 500 production pickups. The rate of production will increase toward end of this month and is expected to total 30 units by end of the year, with the rest built in the first half of 2023, it said. The company also is looking for other automakers who want to sell the Endurance under their own brand to get into the electric truck market quickly, Edward Hightower, Lordstown’s president, said on a conference call with analysts. Foxconn completed a purchase of Lordstown’s Ohio factory earlier this year. Separately, Lordstown announced third-quarter results, revealing an operating loss of $154.8 million. It ended the period with cash and short-term investments of $204 million, according to a statement. The company reaffirmed its plan to begin Endurance deliveries in the 4th quarter, with an initial production target of 500 units. Lordstown’s chief financial officer, Adam Kroll, said the company expects to end the year with between $150 million and $165 million in cash. It ended the third quarter with $204 million in cash and short-term investments. +++
+++ Foxconn-led electric vehicle consortium MIH announced plans on Tuesday for its first car, a boxy single row 3-seater which it hopes will be popular with one-child families in Asia. Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, has ramped up investment in EVs and semiconductors in recent years, announcing deals with U.S. startup Fisker and Indian conglomerate Vedanta. Betting on strong demand in Asian markets for smaller electric cars, MIH Consortium plans to build its first car, which it calls Project X, in 2023 and start mass production the following year, though no customers have been confirmed, the company said. “We need to do something differently to disrupt the industry,” Jack Cheng, chief executive of MIH, said at an event in Taipei to unveil the EV which will be custom built for the purchaser. “Build your own vehicle with Project X”, Cheng said, referring to the car’s modular design. “It’s like Lego. I can put (a module) on and take it off easily”, Cheng said. The 3-seater will cost less than $20.000, he said. Foxconn, the main supplier of Apple’s iPhones, eventually wants to replicate its level of success in assembling personal computers and cellphones as it expands into building EVs. MIH is eyeing not only Taiwan, but also India, Thailand, Indonesia and Japan as prospective markets for the 3-seater. “The American market tends towards large cars”, Cheng told reporters, adding that this model would suit a single-child family. “As long it is a place where our partners, including Foxconn, have manufacturing sites, then there is a possibility to mass produce there”, Cheng said. Cheng said many MIH partners are willing to initially take risks and bear development costs, because they are optimistic about EV sales taking off. “The more cars we make, the more they will earn”, Cheng said. MIH Consortium, which includes auto chipmaker NXP and navigation and digital mapping company TomTom among other members, said it plans to build a demo car for a 6-seater in 2024, followed by a 9-seater. +++
+++ PORSCHE has already confirmed that the junior members of its sports car line-up: the 718 Boxster and Cayman will go all-electric for their next generation. And now, the first spy shots of what looks like a development mule for an all-electric Boxster replacement have surfaced. Porsche’s timeline for the new electric Boxster and Cayman is to have them in production by the middle of the 2020s, and this early prototype certainly reveals that we can expect the newcomers no sooner than that. Following on from the Taycan and the forthcoming Macan EV set to launch next year, the future electric Cayman and Boxster will join the brand’s other full EVs. However, the new sports coupe and cabriolet will be based on a new bespoke electric-car platform adapted from Porsche’s Mission R concept. Few styling details can be discerned from the heavily camouflaged Boxster EV mule, but the slimmer, more horizontal headlights point to the Mission R also being the starting point for the brand’s first electric sports car design language. Similarly, the tall rear bumper feeds into a new full-width LED lighting bar, similar to the styling concept used on the Mission R prototype. Speaking at Porsche’s business update earlier this year, CEO Oliver Blume, said: “Mission R will be an inspiration for the series of our 718 mid-engined sports car. In the middle of the decade, we want to electrify this series. We want to make the 718 series exclusively electric”. When it comes to the 718 model line’s new architecture, Blume added: “We’re going to have one platform for our 2-door sports cars and another platform for our 4-door sports cars”. He also confirmed that production of the Boxster and Cayman will continue at the Zuffenhausen plant in Germany. The Mission R features an 82 kWh battery pack supported by a dual electric motor setup developing 1.100 hp. This setup enables 0-100 kph in just 2.5 seconds, and a top speed of 290 kph. It’s far too early to speculate on the specification being readied for the next-generation car’s launch, but looking at the spy shots does at least point to the changes necessary to equip a car of the Boxster’s segment with a battery providing a usable and competitive range in the real world. The spy shots hint at a much elongated wheelbase, with surprisingly long overhangs front and rear. These overhangs could be red herrings created by extra cladding, designed to obscure the true proportions of the production vehicle. The exhaust tip protruding from the rear bumper almost certainly is. However, the additional bodywork running from behind the door to the rear axle reveals the longer wheelbase necessary to fit a battery pack similar in size and layout to the Mission R’s 82 kWh unit. Unlike many contemporary EVs, which utilize an underfloor battery, the Mission R has been developed with a battery stack behind the passenger cell, creating a similar layout and weight distribution to a mid-engined sports car using an internal combustion engine. This also means that the seating position remains low-slung, as is traditional in the class. Lotus has confirmed it is developing a similar concept for its future electric sports cars, and the extra length between the doors and rear axle, along with the extra volume of body work beyond the car’s B-pillar, are tell-tale signs that this idea has been carried through from the Mission R to the production Boxster model. Porsche could look to offer a high-performance, track-honed version of the car with a similar power output and dual-motor setup to the Mission R, but single-motor variants driving the rear axle only, and providing fast road car levels of performance with decent usable range will be the priority for engineers. +++
+++ RENAULT has announced a major overhaul that will see it separate its activities in 5 businesses, deepen ties with China’s Geely and spin off its electric vehicles unit through a stock market listing next year. At a long-awaited investor presentation on Tuesday, Renault said it targeted operating margins of 8% for 2025 and rising to more than 10% in 2030, from 5% expected this year. It also plans to reinstate dividends from 2023 after a 3-year hiatus, and generate more than 2 billion euros of cash annually between 2023-25, growing to more than 3 billion euros in the following 5 years. An early mover in the electric car race, Renault has fallen behind newer, more agile rivals like Tesla. After needing emergency state cash during the Covid pandemic, the group is looking to extend on a turnaround following losses in 2019 and 2020, and increase the valuation of its different parts. But big question marks remain on its strained relationship with long-standing Japanese partner Nissan, as Renault looks for other outside investors for each of its divisions. The main plank of the car maker’s strategy is separating its combustion engine business (which will partner with Geely in a 50-50 joint venture, also announced on Tuesday) from its electric vehicle unit, to be listed in the second half of next year. Nissan is expected to take a stake in the EV venture, codenamed “Ampere”, alongside other investors, though Renault will keep a majority stake. Talks with Nissan have been dragging on, amid Japanese reservations about sharing technology with others, including a Chinese rival like Geely, sources have told. Shares in Renault fell 2% after earlier dipping more than 4% as it gave little detail on the state of play of the discussions with Nissan on the future of their partnership. Renault CEO Luca De Meo said the group wanted to give the alliance a strong future and a “new chance”. But he also said that, as in a marriage, “it is important for us to have our own hobbies and our own life”. The companies had initially set a November 15 target to reach a deal, but no announcement is now expected on that date, according to people familiar with the talks. Aside from the Ampere EV unit and the combustion engine division, Renault will have an additional 3 businesses: the Alpine sports-car brand, financial services and new mobility and recycling activities. “We are creating independent businesses, focused on structurally more profitable activities, open to external investments, each of built around an indigenous set of technologies”, De Meo told investors. Using a sports metaphor, he compared the “old” Renault to a pentathlon athlete who would struggle to win gold medals in all 5 sport specialties. By partnering in each of its new 5 businesses with the best available partners, “Renault hopes to win medals in those different sports instead of remaining at an average level in all 5”, he said. +++