Edmob Automotive: Nigeria's Car Parts and Accessories Store

Bentley will unveil a new model May 10. It will be the automaker's fifth model line, alongside the Continental GT coupe and convertible, Flying Spur sedan, and Bentayga SUV.

Bentley said in a brief announcement that the new model "will sit in sumptuous comfort at the pinnacle of its range," and will "combine luxury, technology and performance in a way that only Bentley can deliver." The luxury maker also said it will feature "an extra dimension of on-board wellness," but that's all the Bentley is willing to disclose for now.

Step inside. 12:30 BST, 10.5.2022 pic.twitter.com/4H7YENbtTz

— Bentley Motors (@BentleyMotors) April 29, 2022

According to SNE Research, South Korean battery producers might boost prices by 30% to 40% to cover rising commodity costs, and they are in negotiations with electric car makers about new long-term contracts.

"We had a meeting with Korean cell makers recently that led us to adjust the outlook for prices of electric-car batteries,” SNE Executive Vice President James Oh said at a seminar Wednesday. “They say battery prices are highly likely to rise by 2024 or 2025.”

While the companies did not specify how much they may raise costs, those using lithium, nickel, cobalt, and manganese might raise battery pack prices by up to 40% by 2025, Oh told Bloomberg News on the margins of the event.

According to SNE Research, the typical lithium-ion battery pack for an EV last year cost between $147 and $153 per kilowatt-hour. Batteries contribute for around 30% to 40% of the cost of an EV.

Volkswagen Group is one of them, and its partner, SK On, is expected to reveal a prismatic strategy shortly, according to him. Samsung SDI is the sole South Korean battery manufacturer with cell production technology.

"You need to be a bit careful with handling pouch-type cells, which have a higher possibility of swelling than prismatic ones,” Samsung SDI Vice President Lee Tae Kyung said during a presentation on battery safety.

This Ferrari F40 may not have more than 470 horsepower, but it does have some other astounding statistics. Unfortunately, you won't be able to drive it, but you can sit in it and pretend.

The life-size model, which weighs more than 3,000 pounds and is composed of more than 358,000 Lego parts, is the first-ever, one-of-a-kind recreation of "one of the most iconic Ferrari automobiles ever created."

The Lego Group-created replica will be on display as part of the new Lego Ferrari Build and Race attraction at Legoland California Resort, which opens on May 12.

“The Ferrari F40 model took a team of designers and builders more than 1,800 hours to develop and more than 1,900 hours to construct the high-performance ultra-luxury sports car. Resembling the actual F40 Ferrari, the LEGO version is similar in size at 14 feet in length, more than six feet wide, 4 feet tall and a wheelbase at 8 feet,” Legoland said in a news release.

The Lego Ferrari will be on display in the garage section of Lego Ferrari Build and Race. Visitors are welcome to sit inside the model and take photographs.

Legoland added that during Build & Race, tourists may visit the build and test area as well as a digital racetrack to compare their own Lego Ferrari to other vehicles.

Admission to Legoland California Resort includes Build and Race.

Stellantis has stated that it intends to manufacture electric vehicles in Serbia in the future. According to the company, a new electric small vehicle will be manufactured at the Stellantis facility in Kragujevac beginning in mid-2024, replacing the Fiat 500L minivan.

Stellantis stated in the statement that another electric model might be offered at a later date. Given the group's electric intentions in Europe, it's not surprise that more factories will develop or are being converted to make electric vehicles in the future. The Fiat brand, which prioritizes production in Kragujevac, is expected to become a 100% BEV brand in Europe by 2027.

Stellantis is not yet providing any solid details regarding the anticipated model, such as the platform. Stellantis CEO Carlos Tavares, on the other hand, remarked that the "new platform for electric cars integrates wonderfully with products in categories A, B, and C." For this range of categories, it is therefore unlikely to be the e-CMP as a mixed platform or the new Fiat 500's compact vehicle platform, but rather the STLA Small.

According to media sources, the electric replacement to the Fiat Panda might be manufactured in Kragujevac.

An electric Panda would match the STLA Small as a somewhat taller vehicle than the Fiat 500 – the parallels with the 500L, which has nothing to do with the famous small car aside from the name and certain design aspects, are considerably larger.

The Serbian government, which owns 33% of the factory, is also involved in the conversion. This week, the corporation and the government inked a deal worth 190 million euros, with the state providing 48 million euros. Stellantis is one of Serbia's top ten exporters, thanks to its manufacturing. "Today marks the beginning of a new era," Serbian President Aleksandar Vucic remarked.

According to Reuters, Vucic went on to say that in order to entice local purchasers to electric automobiles, Serbia would need to install a slew of charging stations in the coming years. To do this, he stated that the government needs to implement a new energy policy. "We have to secure cheaper electricity and more renewable energy," Vucic stated.

Mercedes-Benz will use embedded Faurecia's Aptoide technology to power navigation and different car infotainment capabilities, marking a significant victory for the app supplier in the battle to control automobile dashboards against Google and different know-how firms.

The companies announced on Thursday that, as part of a multi-year agreement, the three-way partnership between automaker Faurecia and unbiased app retailer Aptoide will combine the German premium carmaker's MBUX multimedia system with its open platform offering nearly 250 apps — navigation, visitors, streaming, cost answer, data — beginning in 2023.

Google and Amazon are competing for a larger share of the growing car infotainment market. Thomas Belin, Faurecia-deputy Aptoide's general manager, told Reuters that the Mercedes contract helps his company's position.

"As we speak, with such contracts, we see that we now have this essential mass (...) and that we're professionals in this market," he said.

The three-way collaboration between French provider Faurecia and Portuguese Android utility specialist Aptoide has already secured contracts with Volkswagen Group and BMW to supply their vehicles with the Android Automotive ecosystem.

According to Reuters, Tesla is recalling approximately 48,000 Model 3 Performance vehicles in the United States because the speedometer may not display while in "Track Mode," according to documents released Friday.

The recall applies to vehicles manufactured between 2018 and 2022. To address the issue, Tesla will deploy an over-the-air software update. Tesla claims that a firmware update released in December inadvertently removed the speed unit from the user interface.

Porsche has opted to honor 911s from the 1960s and early 1970s with a new 911 Sport Classic special edition vehicle. The Porsche 911 Sport Classic is the second vehicle to be released under Porsche's new 'Heritage Design approach,' following the 2021 911 Targa 4S Heritage Design Edition.

While some have already labeled it a cynical marketing ploy, there are a number of compelling reasons why an enthusiast would desire this Porsche. For starters, manufacture is limited to only 1,250 pieces worldwide, so you'll never lose money on the sale.

Buyers may receive a different sort of Turbo, one that is more analogue, with this special edition. Based on the Turbo S, this variant is only available with rear-wheel drive and a 7-speed manual transmission, and Porsche has removed the iconic side cooling vents. Instead, a Porsche spokesman stated that the 992-generation 911 does not require as much cooling as previous Turbos, and that the engine can be effectively cooled utilizing inlets on the rear bumper and ducts beneath the rear spoiler. The same 3.7-litre turbocharged flat-six engine that powers the 911 Turbo produces 542bhp and 442lb-ft of torque.

The inside is also one-of-a-kind. Porsche selected materials that were intended to harken back to the 1960s and early 1970s.

The open-pore dark Paldao wood trim is standard, and it contrasts wonderfully with the light seats. You'll also receive a numbered badge indicating which of the 1,250 models you possess. The analogue central tachometer has a white needle and scale indications in addition to green digits. The Sport Chrono clock receives the same treatment.

The 2023 Porsche 911 Sport Classic is expected to hit the market in late 2022.

Elon Musk has sold 4.4 million shares of Tesla stock for around $4 billion, most likely to fund his acquisition of Twitter.

Musk disclosed the transaction in a Securities and Exchange Commission (SEC) filing on Thursday. The shares have been sold in recent days at prices ranging from $872.02 to $999.13.

The CEO of Tesla, the world's richest man, tweeted that he had no plans to sell any more of the company's stock.

The majority of the transactions occurred on Tuesday, when Tesla shares fell 12 percent in a single day, a massive decrease.

According to analysts, Tesla investors are concerned that Musk may get distracted by Twitter and less interested in operating the electric vehicle company.

Musk has agreed to buy Twitter for $44 billion. Musk appears to be planning to borrow up to $25.5 billion from a bevy of banks to fund the buyout of Twitter, but the stock sale might help fund part of that.

The acquisition of Twitter for $54.20 per share was announced earlier this week and is scheduled to finalize later this year. However, before the transaction can be finalized, shareholders must vote. Regulators in the United States and other countries where Twitter operates will do the same.

So far, few roadblocks are expected, despite opposition from some Twitter staff and users concerned about Musk's attitude on free speech and what it would entail for harassment and hate speech on the platform.

Tesla stock finished Thursday at $877.51, down marginally from the previous day. So far this year, they are down 17%.

The Tesla Cybertruck was supposed to go into production in late 2021, while the Tesla Semi was supposed to go into production in 2020. Because the company did not have the capability to make both EVs at the time, production was rescheduled.

In 2022, Tesla established a new Giga Factory in Texas, where the Cybertruck and Semi are expected to be manufactured.

That's one less thing to worry about for Tesla's most anticipated EVs.

However, Elon Musk then informed shareholders that the company is having difficulty keeping the price of the Cybertruck low after incorporating new technologies, leading many to worry that the Cybertruck will be more expensive.

The fact is that we won't know the precise pricing of the Cybertruck until next year, assuming it will be accessible to consumers. On the plus side, the planned Tesla Gigafactory in Texas may allow the Cybertruck and Tesla Semi to be marketed at reasonable costs. This is because Tesla has expedited lithium-ion battery manufacturing at the Texas Gigafactory, which will assist to cut the cost of the Tesla Cybertruck and Tesla Semi.

In addition, Tesla's stainless-steel supplier for the Cybertruck just established a steel factory in Sinton, Texas. This means that transporting the stainless steel needed to produce the Cybertruck at the Texas Gigafactory might be less expensive.

Due to the strategic position of the Tesla Texas Gigafactory, Tesla will be able to accelerate the delivery of the Tesla Cybertruck and Tesla Semi to the East and West Coasts. Contrary to popular belief, Texas has a legislation that prohibits automobile manufacturers from selling directly to customers without first going through independent dealers.

Ford Motor Co. reported Wednesday that it lost $3.1 billion in the first quarter, weighed down by its investment in an electric-vehicle startup, and its revenue slid as a shortage of chips limited the supply of pickups and SUVs in North America.

Company executives pointed away from the loss and toward results that excluded the lower value of its stake in Rivian. Ford said that it made $2.3 billion in pretax profit and is still on track to hit its full-year target for that measurement.

Ford said it sold 966,000 vehicles in the first quarter, down 9% from a year earlier.

Chief Financial Officer John Lawler said the quarter produced mixed results.

“Clearly the demand for our new products is very strong,” Lawler said, “yet we continue to have issues with supply of chips, which constrained us, and in particular here in North America, it hit us disproportionately on our large vehicles.”

The chip shortage has caused Ford and General Motors to close multiple North American factories for a week or two at a time, including plants that build popular full-size pickups.

Ford executives said they also faced inflationary pressure from suppliers, but have been able to recover that in higher vehicles prices. They said additional increases were possible if inflation continues to run high.

The company said this week that it has built about 2,000 copies of its new electric pickup, the F-150 Lightning, at a plant near Detroit and would begin delivering them to customers. The truck is critical to Ford's hopes of gaining a bigger share of electric-vehicle sales.

CEO Jim Farley said Wednesday that buyers of the F-150 Lightning are generally not traditional truck owners.

“The customer profile is dramatically younger. It’s in states like California and New York that we normally don’t sell full-size trucks,” he said on a call with analysts.

The appeal of electric vehicles to younger consumers helped drive investor interest in Rivian. Ford's 12% stake was worth more than $10 billion after the startup's IPO in November. But after nearly touching $180, the shares have since tumbled — they closed Wednesday at $31.22 — dragging down the value of Ford's stake.

Ford's loss contrasted with General Motors, which reported a $2.94 billion quarterly profit on Tuesday.

The first-quarter loss of $3.11 billion compared with a profit of $3.26 billion in the same period last year. Revenue skidded 9% lower that a year ago, to $34.48 billion. Ford said it earned 38 cents a share in the latest quarter after adjusting to exclude one-time items.

Analysts expected Ford to earn an adjusted 37 cents per share on revenue of $34.53 billion, according to a FactSet survey.

The company based in Dearborn, Michigan, stood by its target of achieving full-year earnings before interest and taxes of $11.5 billion to $12.5 billion.

Ford's shares rose about 1% in after-hours trading after gaining 1% during the regular session.

Manufacturing.net

Tesla CEO Elon Musk has won a judicial battle with shareholders over the contentious takeover of the loss-making green energy provider SolarCity.

In a judgement issued on Wednesday, a Delaware judge sided with Mr Musk, concluding that Tesla did not pay an unreasonable price for SolarCity.

The plaintiffs accused Mr Musk of rushing the deal to acquire the faltering solar panel producer at the detriment of Tesla shareholders.

In 2016, Tesla paid approximately $2.6 billion for SolarCity.

Critics accused Musk of conflict of interest at the time because he was both the largest shareholder and the chairman of the board of SolarCity.

There were also early allegations of nepotism because the firm was headed by Musk's cousin, and Tesla co-founder JB Straubel was also on the board of directors.

Both companies were consistently losing money at the time.

SolarCity was regarded to be in financial difficulties at the time of the transaction.

The judge agreed with the plaintiffs that Mr Musk wielded too much power over the takeover and had not stepped back from the negotiations due to his personal involvement.

However, he came to the conclusion that this was not a deciding element in the purchase.

However, it remains to be seen if Mr Musk would be able to close the matter.

A plaintiffs' lawyer informed US media that he was considering whether to appeal the ruling.

Nepal has prohibited the importation of vehicles, alcohol, cigarettes, and other luxury commodities, as well as shortened its work week, in order to conserve its decreasing supply of foreign currency.

Only emergency cars can be imported, according to a notice issued in the government gazette on Wednesday. Imports of any form of alcohol or tobacco product, large-engine motorcycles, or mobile phones costing more than US$600 will be prohibited.

The prohibition, which is in effect until the end of the fiscal year in mid-July, also prohibits the importation of toys, playing cards, jewels, and other "non-essential" commodities.

Without such harsh steps, officials estimate that the foreign currency reserves required to import practically everything will last only a few months.

Tourism, remittances from abroad employees, and international aid are Nepal's key sources of foreign money.

Every year, hundreds of thousands of foreign tourists visit the Himalayan country, but the number of visitors dropped during the coronavirus outbreak.

Rising oil costs have put additional strain on Nepal's foreign reserves. To save gasoline, Information Minister Gyanendra Karki stated on Wednesday that the government would decrease the work week from five to five and a half days.

However, he claims that the situation is now subsiding as visitors return and more Nepalese go abroad to work, sending their earnings home.

Nepal's trade imbalance increased by about 34.5 percent year on year in mid-March to US$9.35 billion, while foreign exchange reserves fell below US$10 billion.

Petroleum is first on Nepal's list of imports, with the country paying $1.54 billion between July of last year and March of 2022.

In reaction to a rear-end incident on the second expressway of Beijing Capital Airport on April 22, Tesla revealed on Wednesday that data indicates the accident was caused by the driver's improper operation.

According to the report, the driver of a Tesla Model 3 was involved in a rear-end collision on Beijing Airport's No. 2 Expressway. The vehicle was severely damaged after colliding with four cars in a row. Tesla phoned the person involved immediately after the occurrence, enquired about the injury, learnt about the circumstances at the scene, and learned that the person involved was fine.

Tesla previously commented to the incident, alleging that it was caused by the driver inadvertently pressing the accelerator pedal. The insurance company advised the car owner of the compensation they might pay after reviewing evidence based on the on-site circumstances. However, due to the large disparity between the compensation and the vehicle price, the driver requested that Tesla reimburse the difference.

In response to the accident, Tesla provided another explanation on Wednesday, claiming that background data reveals the driver turned the steering wheel to the left to avoid a truck in front. He did, however, step on the accelerator pedal while steering, which resulted in the incident. According to reports, the motorist did not apply the brakes prior to the crash.

During the incident, the driver appears to have stepped on the brake pedal twice in less than a second.

Customers are encouraged to drive cautiously. If an accident occurs and there is dispute regarding who is to blame, please safeguard your rights based on facts and logic. Simultaneously, it is intended that through media reporting, customers will gain a better knowledge of smart cars and EDR data, promoting the overall development of the automobile sector to be more reasonable and healthy.

Jaguar Land Rover has announced a new Open Innovation strategy, to accelerate next-generation technology and sustainability to support its Modern Luxury vision for the business, its partners, and customers.

Open Innovation will drive collaborations with start-ups, scale-ups and like-minded external organisations on electrification, connectivity, digital services, metaverse, intelligent enterprise, manufacturing, supply chain and sustainability.

As part of the new global strategy, Jaguar Land Rover will launch a first-of-its kind innovation hub in the UK, in partnership with the corporate innovation platform and investor, Plug and Play. In addition, two separate partnerships with Cubo Itau and Firjan will provide access to the vibrant Latin American start-up ecosystem.

The announcement is part of Jaguar Land Rover’s Reimagine strategy: to be the creator of the world’s most desirable, luxury vehicles for the most discerning of customers. By collaborating with innovators and sector experts, the Open Innovation programme will help the business identify digital services, products, tools, and processes for it to achieve its goal of net zero by 2039, while creating new value chains for the business.

As a Founding Partner of Plug and Play UK, Jaguar Land Rover is building an ecosystem of start-ups and scale-ups that will create jobs and opportunities for the digital economy. The platform will also provide access to a global ecosystem of potential partners, enabling the organisation to test new technologies and business models. Activities will be located close to Jaguar Land Rover’s headquarters in the West Midlands, the heart of the UK’s automotive industry.

In addition, Jaguar Land Rover has signed two partnership agreements in Brazil with Cubo Itau and Firjan. Brazil is an important hub to benefit from the flourishing Latin American start-up ecosystem, as well as being home to one of Jaguar Land Rover’s production facilities.

Cubo Itau, located in São Paulo, currently hosts hundreds of start-ups covering several industries like fintech, agribusiness, healthcare and retail. Jaguar Land Rover will play a key role in Cubo’s newly created Smart Mobility Hub, which will spearhead innovations for the automotive sector.

Firjan, is a private entity that represents industrial and business sectors in Rio de Janeiro state. With a 10,000-strong network of enterprise members, Firjan will work closely with Jaguar Land Rover to connect start-ups who are developing advanced automotive manufacturing processes and provide access to advanced laboratories for R&D programmes.

To enable Open Innovation, Jaguar Land Rover has appointed 70+ ‘champions’ from across key business areas – including sustainability, engineering, design, research, and manufacturing – that will be at the forefront of driving the strategy.

François Dossa, Executive Director, Strategy and Sustainability, Jaguar Land Rover, said:

With the launch of the Open Innovation platform, Jaguar Land Rover is looking at the entire mobility and sustainability ecosystem to offer an unparalleled customer experience, shaping the future of our industry, and paving the way to the future. We will explore everything from second-life batteries and circular economy to new fintech, insurtech and digital services – all aligned with Jaguar Land Rover as the proud creators of Modern Luxury.

François Dossa

Executive Director, Strategy And Sustainability At Jaguar Land Rover

Source:  Jaguar Land Rover 

In an official statement released by Subaru, the Japanese manufacturer announced that it would be halting manufacturing at most of its major plants in the country due to shortage of parts. The statement simply reads "Subaru Corporation will temporarily suspend production at its automobile manufacturing facilities in Japan due to interruptions in the supply of certain parts. Operations at the Gunma Manufacturing Plant, Yajima Plant, and the Oizumi engine and transmission plant will be temporarily suspended. We apologize for any inconvenience this may cause to our customers and all other stakeholders."

The plants will only be closed for two working days, on April 28 and 29, but even a two-day delay can cost millions of dollars in missed revenues and start a chain reaction that will cause even lengthier delays in the future.

Last year, the Yajima plant was also forced to close due to a shortage of semiconductor chips. This delay, which lasted 13 days, resulted in the loss of 10,000 automobiles. The Yajima plant is in charge of producing halo vehicles such as the Impreza, Crosstrek, WRX, STi, and BRZ.

Toyoya Tsusho is a Japanese general trading company that is part of the Toyota Group.

Toyoya Tsusho collaborates with Zipline, the world's largest drone delivery company, to transport medical supplies across Japan.

Zipline drones will be used to deliver medical supplies to pharmacies and hospitals around the Got Islands.

Toyota Tsusho will use Zipline's immediate logistics technology to perform normal commercial long-distance drone deliveries in Japan as part of the agreement.

Toyota Tsusho's main business is certainly supporting Toyota Motor's automobile (Toyota Motor Corporation is its own company within Toyota Group), but its business is also quite diverse, spanning industrial, commercial, and consumer sectors in business areas such as industrial raw materials, agricultural products, and high technology. You can now add drones to that list.

Zipline is not collaborating with Toyota Tsusho for the first time. Toyota Tsusho, in fact, invested in Zipline in June of 2018. Previously, the firms collaborated in Ghana, where Zipline delivered medical items from Gokals-Laborex Limited (the pharmaceutical distributor for Toyota Tsusho Group) to hospitals across the country. The two corporations formed a strategic operational cooperation in March 2021 to bring drone delivery to Japan.

McLaren Automotive, the British premium supercar and hypercar manufacturer, has announced the hiring of Michael Leiters as its new Chief Executive Officer, effective July 1, 2022.

Mr Leiters, 50, is of German origin and holds a degree in engineering. He has previously held key positions at Porsche AG and, most recently, as Chief Technology Officer at Ferrari.

Mr Leiters will be headquartered at McLaren's worldwide headquarters in Surrey, England, at the McLaren Technology Centre and the neighbouring McLaren Production Centre, where all of the company's supercars and hypercars are hand-built.

Mr Leiters will lead the 3,000-strong workforce across all global activities, including the McLaren Composites Technology Centre, which has been instrumental in innovating technology for the company's ground-breaking high-performance hybrid series production supercar, the McLaren Artura, whose deliveries are set to begin soon.

McLaren now has over 100 shops in over 40 countries across the world. Despite the epidemic, McLaren continues to observe significant consumer demand, particularly for its limited-production vehicles, with both the 765LT Coupe and Spider variants, as well as the Ultimate Series Elva, completely sold out.

“On behalf of everyone at McLaren, I am delighted to welcome Michael as the new CEO of McLaren Automotive. His extensive industry leadership experience combined with his passion for engineering and future technology will help guide and develop our team as we enter an exciting second decade.”

Paul Walsh, Executive Chairman, McLaren Group

“I could not be more excited to be joining McLaren Automotive as CEO at this important moment in its journey. McLaren is already recognised as one of the world’s most admired luxury supercar companies. I look forward to growing that reputation for our loyal customers, employees, fans and partners as we write the next chapter in McLaren’s illustrious history.”

Bentley is looking for 100 engineers to work at its Crewe headquarters.

The hiring push is part of the company's ambition to produce more electric vehicles each year.

While the posts cover a wide spectrum of engineering and research and development skills, nearly half of them are focused on electrical competencies, as Bentley plans to fully electrify its product line within eight years.

Although roles are based in Bentley's headquarters in Crewe, the company has implemented hybrid working, which is a mix of onsite and remote work.

Bentley has incorporated collaboration zones and moved to hot desks in its spanking new engineering offices to save space and encourage more collaboration.

Dr. Matthias Rabe, Bentley’s Member of the Board for Research and Development, said: “Bentley is in the middle of the most significant transformative phase in the company’s long and illustrious history.

“Extraordinary products has always been at the heart of our business, however tomorrow’s engineers face the most exciting challenges in a generation as we become an exclusively electric car business.

“We are looking for true innovators, who can create the new future of automotive, support our product ambitions and shape our Beyond100 vision as we aim for leadership within sustainable luxury mobility.”

In addition to the need for electrical engineers, upcoming openings will span the entire spectrum of research and development, from UX/UI engineers working on concepts and design to design managers working on the development and validation of parts and entire vehicles to chassis engineers working on production ready vehicles.

Ram confirmed the release of an electric 1500 pickup truck this fall on Twitter on Monday.

Time to steal some thunder. 😎
Unleashing Fall 2022. https://t.co/epaaYdKHj9 pic.twitter.com/m4wB9AjYBp

— Ram Trucks (@RamTrucks) April 25, 2022

The electric truck is simply a concept because the production model isn't due until 2022 fall, and it may differ from the concept.

Ram intends to use the concept to solicit feedback from 1500 owners about what they would like to see on a future electrified truck. Ram has been collecting feedback since at least February, when it launched the Ram Revolution program. In fact, some of the feedback will be used to shape the concept that will be unveiled later this year.

The concept's teaser video implies a far more modern design than the internal-combustion 1500 on the market today.

The production model is being developed using the STLA Frame, a dedicated EV platform. The platform, one of four modular designs that will underpin future EVs across the board at Ram parent company Stellantis, has been created for body-on-frame vehicles such as pickup trucks, large SUVs, and even commercial vans, and will give up to 500 miles of range in some configurations.

Stellantis CEO Carlos Tavares stated during an investor presentation in March that the electric 1500 will outperform all competitors in terms of range, as well as crucial pickup attributes such as towing capability and payload.

Stellantis has confirmed that by 2030, it will offer at least 75 electrified nameplates, including more than 25 in the United States. One of these will be a new Jeep model, which will be available in the first half of 2023 and was also teased during the March investor presentation.

According to Bloomberg, Tesla Inc. is expected to lose more than $100 billion off its valuation in a single session since the stock is down more than 11 percent as investors believe Elon Musk may sell shares to complete his $44 billion buyout of Twitter Inc.

According to the article, Tesla's market valuation has already dropped almost $250 billion since April 4, when Musk revealed that he increased his Twitter stake, as the stock has fallen roughly 23%. Musk's 17 percent share in Tesla has lost almost $42 billion in value, nearly double the stock component he pledged in the Twitter purchase.

But Musk isn’t doing Tesla any favors by providing scant details on how he will cover the $21 billion equity piece that he personally guaranteed. What’s known is that Musk is using Tesla shares as collateral in the transaction. That has led to investors worry that the Tesla chief executive may sell some of his stake to fund the Twitter acquisition. Those concerns are “causing a bear festival in the name,” Wedbush analyst Daniel Ives said.

“Tesla has three strikes against it today,” said Arthur Hogan, chief market strategist at National Securities Corp. “Apart from the worries about a share sale and a wider selloff in growth stocks, Tesla shares are also reflecting some concern that Elon Musk could be spreading himself and/or his bench too thin taking on this new challenge.” 

Still the risks to Tesla’s stock price remain as the uncertainty surrounding the shares continues.

Volvo Cars has acquired a minority share in Carwow through its venture capital arm, Volvo Cars Tech Fund.

Carwow sells new vehicles online in the United Kingdom, Germany, and Spain.

Volvo Cars stated that the move will provide it with insights about online sales, client acquisition, and content creation, which will aid in its push toward online and direct customer relationships.

The financial investment is the next phase in Volvo Cars and carwow's current engagement, which includes collaborations on Volvo Cars' subscription service as well as delivering traffic and sales leads to Volvo Cars and its retail partners.

“Third-party marketplaces play a key role in any consumer industry, which includes the competitive landscape of Volvo Cars,” said Lex Kerssemakers, chief commercial officer at Volvo Cars.

“We were one of the first car manufacturers committed to shift to online sales and through this strategic partnership, we will learn and gain insights into online buying behaviour.

“Our collaboration with carwow will help us and our retail partners grow volumes and reach our target of selling around half of our volume online by 2025.”

“Volvo Cars and carwow have the same ambitions: to make buying a car online easy and seamless and help consumers switch to electric cars,” said Alexander Petrofski, head of the Volvo Cars Tech Fund.

“Our investment in carwow is a good example of how the Volvo Cars Tech Fund aims to support the overall strategic direction of the company.”

Twitter's board of directors has accepted Tesla CEO Elon Musk's offer to buy the social media firm and take it private, the company stated on Monday.

The stock closed up 5.64% for the day after it was halted for the news.

Investors will receive $54.20 for each Twitter share they own, according to a statement issued by the business on Monday.

Twitter board chair Bret Taylor said the body “conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” according to the statement.

“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”

Musk, who describes himself as a free speech absolutist, has blasted Twitter's censorship . He desires that Twitter's mechanism for prioritizing tweets be made public.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement included in the press release announcing the $44 billion deal. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

Twitter enacted a shareholder rights plan on April 15, a tool known as a poison pill to stave off unwelcome buyers. The plan is exercisable if a party acquires 15% of the stock without prior approval, and it seeks to ensure that anyone gaining control of the social media company through open market accumulation pays an appropriate control premium to all shareholders, according to the company's disclosure of the plan.

The transaction, which has been unanimously authorized by the Twitter Board of Directors, is scheduled to conclude in 2022, subject to Twitter stockholder approval, receipt of appropriate regulatory approvals, and fulfillment of other usual closing conditions.

When Tesla debuted the Cybertruck in 2019, CEO Elon Musk added a little detail by bringing out the Tesla Cyberquad, an electric ATV, to demonstrate the cargo capacity of the Cybertruck's bed. It wasn't clear whether Tesla intended to make the electric ATV available at the time, but Musk later announced that it would be an option for Cybertruck buyers.

We haven't heard much about the vehicle program since then, which isn't surprising given that it is related to the Cybertruck, which has been postponed until 2023.

However, with the release of the Cybertruck next year, Tesla will have to start working on bringing the electric ATV to market. It appears that the manufacturer is finally doing precisely that, but in an unexpected way.

Tesla announced the launch of "the 2022 World Power Battery Conference Power Battery Integration and Management Technology Challenge" on its official Weibo account in China. 

Tesla is inviting teams to submit concepts for a battery pack with 2170 cells that will fit in the Cyberquad. The manufacturer implies that the best design could wind up in the electric ATV, but it is also awarding rewards for the best concepts — up to RMB 200,000 ($30,000 USD).

Tesla is soliciting designs for the Cyberquard battery pack from "innovation and research teams" rather than merely student teams. The tournament will come to a close in July.

Mark Reuss, President of General Motors, acknowledged Monday that the business is working on an all-electric Corvette. Reuss also stated that GM intends to produce a hybrid Corvette as early as 2023.

On Monday morning, Reuss posted a statement on his personal Linkedin profile outlining Chevrolet's ambitions for the future of the Corvette, as well as a video of what appears to be a camouflaged C8-generation Corvette with power going to all four wheels testing in the snow.

Some time ago we moved the Corvette team into the EV space in Warren, Michigan, and when we revealed the new mid-engine Corvette, I said there would be “more to come.” This morning I sat down with Phil LeBeau of CNBC and finally answered the question I’ve been asked countless times.

Yes, in addition to the amazing new Chevrolet Corvette Z06 and other gas-powered variants coming, we will offer an electrified and a fully electric, Ultium-based Corvette in the future. In fact, we will offer an electrified Corvette as early as next year. Details and names to come at a later date.

In addition, we also announced today Ultium Platform’s energy recovery system, a patented onboard system that takes the heat generated by EV batteries and uses it to warm the cabin, create more efficient charging conditions, and even increase vehicle acceleration. And it can boost the vehicle’s range by about 10%. It’s a perfect example of how developing a ground-up EV platform like Ultium enables unique features not easily done with a retrofit.

Big news day at GM!

 The "energy recovery system" of GM Ultium was also highlighted in a press release, despite the fact that the technology is already in use in Ultium cars such as the GMC Hummer, the future Cadillac Lyriq, and other announced but not yet shipping vehicles.