CANOO FILES BANKRUPTCY, HYUNDAI LOSES TAX CREDIT, RAM CANCELS 500 MILE EV

EV Channels Review

The Friday Charge podcast covers several significant EV industry developments. The most impactful news is Canoo's Chapter 7 bankruptcy, marking the end of the startup which, despite securing high-profile clients like Walmart and the US Army, ultimately failed due to financial mismanagement. The hosts express disappointment but not surprise, noting the company's focus on commercial contracts proved challenging. In other news, Hyundai's 2025 Ioniq 5 and Ioniq 9 have been removed from the federal tax credit eligibility list, a move attributed to stricter battery sourcing requirements, though the reasoning remains unclear as sibling models still qualify. Ram has also canceled the 500-mile range 'Rev BEV XL' version of its 1500 pickup, opting to focus on the plug-in hybrid 'Ramcharger' and the standard BEV, likely due to cost and production concerns surrounding the massive battery. On a more positive note, Cadillac has officially launched the Lyriq V, its fastest EV to date, boasting 615 horsepower and a 0-60 mph time of 3.3 seconds. While offering impressive performance, its range is estimated at 285 miles, and it starts at a premium price point, though the hosts feel it represents a strong performance EV debut for GM.