VW LOOKS TO ACCELERATE EV EFFORTS, RIVIAN STARTS DELIVERIES OF THE R1S, AND MORE: PODCAST #119

EV Channels Review

This podcast episode covers several significant developments in the EV industry. A key highlight is Volkswagen's new CEO, Oliver Blume, outlining an ambitious plan to accelerate EV efforts, aiming to overtake Tesla as the world's largest EV maker within three years and have 50% of its vehicles be full battery electric by 2030. While the plan is noted as ambitious and requiring significant acceleration, it signals a clear direction. Toyota is also making a substantial investment of $5.6 billion in EV battery production, with a new plant in North Carolina set to begin production between 2024 and 2026, indicating a serious ramp-up for their EV offerings. Rivian has commenced deliveries of its R1S SUV, a vehicle praised for its potential, especially its third-row seating for families, and is expected to be a popular model. California's landmark decision to ban new ICE vehicle sales from 2035 is discussed, with its significant impact on the national market and other states adopting similar standards. Ford's EV sales are soaring, with over 300% growth in August, driven by strong demand for the Mustang Mach-E, F-150 Lightning, and E-Transit vans, securing Ford the second spot in the US EV market. Finally, Buick is offering buyouts to dealerships unwilling to invest in the transition to EVs, ahead of its all-electric Electra line launching in 2024.