This week, we have news on EV Dealership Decisions, Jeep, VinFast, and Rivian & Mercedes. It’s our Top EV News for the week of September 16, 2022.
Check out the full newsletter for the week which includes more Electric Vehicle News, and also news about Autonomous Vehicles.
Bio: John is the COO at EPG, a company focused on helping electric and autonomous vehicle companies hire the best talent. In addition to these services, EPG puts out an informative weekly newsletter that is now named Mobility EVo. You can sign up for the newsletter here.
Jeep announced a plan to launch four EVs by 2025. Its first two electric vehicles are an all-electric Wrangler-style SUV, the Recon, and a luxury Grand Wagoneer S. Jeep anticipates the Grand Wagoneer S to have around 400 miles of range and do 0-60 mph in around 3.5 seconds. No word on the Recon performance figures. Jeep wants half of its US sales to be electric by 2030, and all its European sales to be electric by the same deadline. Which electric Jeep excites you?
Rivian and Benz
While the stock market had a tough week, Rivian added almost $3 billion to its market capitalization in one day because it announced a partnership with Mercedes-Benz to build electric vans in Europe. The vans are expected in a few years, but Rivian saw shares jump by 11%. This partnership is unexpected but seems like a good move.
In a major milestone, VinFast delivered its first 100 VF 8 EVs in Vietnam. VinFast is the first Vietnamese car brands to expand its presence across the globe. VinFast will next target the US, Canada, and Europe, with vehicle deliveries expected around December. VinFast also has a $2 billion manufacturing facility in the works in NC. Check out our newsletter this week for more on the VF 8.
Buick and Cadillac have offered buyouts for dealers who don’t want to invest in selling EVs, but sister brand Chevy doesn’t want to join the bandwagon. Chevrolet has been selling EVs for years, and 95% of its dealers have sold at least one EV. Chevy hopes that dealers who take buyouts from its sister brands may end up exclusively selling Chevy vehicles, which can be a variety of ICE and/or electric vehicles.
Ford, however, is giving its dealers a choice – either invest in electric vehicles or don’t sell EVs at all. At first glance, the choice seems harsh, but it helps Ford decide where to invest in EV infrastructure. Those that do want to sell Ford’s electric vehicles must agree to several rules: fair, transparent pricing with no last-minute haggling, and dealers must invest a certain amount for EV infrastructure. Decisions, decisions.
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