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BMW retools Munich headquarters for all-electric production from 2027

Reuters · 1y ago

BMW retools Munich headquarters for all-electric production from 2027

BMW is investing €650 million to convert its main plant in Munich to exclusively produce electric vehicles (EVs) by the end of 2027. This move is a significant milestone for the carmaker's transition to the electric age. BMW plans to build four new buildings, including an assembly line and body shop for EV production. The company has relocated traditional engine manufacturing to Britain and Austria, retraining or relocating 1,200 employees. BMW aims to have EVs account for a third of its sales by 2026.

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Cadillac teases ‘Opulent Velocity’ electric V-Series concept

The Verge

The Verge · 1y ago

Cadillac teases ‘Opulent Velocity’ electric V-Series concept

Cadillac has released a teaser for its latest concept, an all-electric V-Series luxury performance vehicle called "Opulent Velocity." While no details about production or specifications have been revealed yet, the teaser showcases a sleek front end design with an illuminated Cadillac badge. One notable aspect in the video is the loud sound, suggesting that Cadillac may be using auditory tricks for its electric V-Series. The teaser is timed to mark the 20th anniversary of the V-Series launch, indicating Cadillac's aim to compete with performance luxury sub-brands like BMW M and Mercedes AMG in the electric vehicle market.

Luxury car maker BMW launches first fully electric BMW iX1 car in India

IndianStartupNews

IndianStartupNews · 2y ago

Luxury car maker BMW launches first fully electric BMW iX1 car in India

German car manufacturer BMW has launched its first fully electric vehicle, the BMW iX1, in India. The electric model of the BMW X1 was sold out within hours of its launch and will begin deliveries next month. Priced at Rs 66,90,000, the BMW iX1 offers modern design, advanced technology, and sustainability. It features a digital BMW Curved Display, Active Seats, and a range of standard equipment. Equipped with fifth-generation BMW eDrive technology, the car offers a range of 417-440 km and fast charging capabilities. BMW India Financial Services is offering a complete package for loan, insurance, and vehicle services for the BMW iX1.

Tesla, Chinese EV brands jostle for limelight at German fair

Economic Times

Economic Times · 2y ago

Tesla, Chinese EV brands jostle for limelight at German fair

One of the world's biggest auto shows opens in Munich on Monday, with Tesla ending a 10-year absence to jostle for the spotlight with Chinese rivals as the race for electric dominance heats up. That Tesla, usually a holdout at such events, is coming to Munich shows it is taking the growing competition seriously, said Jan Burgard from the Berylls automotive consulting group.

Ford is delaying its next-gen electric three-row SUV and truck

The Verge

The Verge · 1y ago

Ford is delaying its next-gen electric three-row SUV and truck

Ford has announced a delay in the release of its electric three-row SUV until 2027. The company cited reasons such as waiting for the three-row SUV market to mature and the opportunity to take advantage of emerging battery technology. Ford also revealed that it will begin work on its next electric truck in 2026 and will offer hybrid options for all its models in production. Design work on a new lineup of affordable EVs is also underway, aiming to develop a smaller, low-cost, profitable, and flexible EV platform.

ABB invests $280 million in new robotics factory in Sweden

Economic Times

Economic Times · 2y ago

ABB invests $280 million in new robotics factory in Sweden

Swiss engineering and technology group ABB is investing $280 million in a new robotics factory in Sweden to meet increasing demand from customers relocating production closer to home markets. The factory, set to open in 2026, will have 50% more capacity than the old site and employ 1,300 people. ABB CEO Bjorn Rosengren cited customer demand and market growth as drivers. The European robotics and automation market is expected to grow at 7% annually from 2023 to 2027. ABB competes with companies like Fanuc Corp and Kuka and supplies robots to BMW, Scania, and Volkswagen, among others.

Recogni Raises $102M in Series C Funding

Finsmes · 1y ago

Recogni Raises $102M in Series C Funding

San Jose-based AI computing company, Recogni, has secured $102 million in Series C funding. The round was led by Celesta Capital and GreatPoint Ventures, with participation from existing investors such as Mayfield, DNS Capital, BMW i Ventures, and SW Mobility Fund. The funds will be used to further develop Recogni's AI inference solutions, with a focus on improving performance and efficiency while maintaining low cost. Recogni specializes in high compute, low power, and scalable AI solutions for Generative AI and autonomous platforms. The company also has an office in Munich, Germany.

Volkswagen presents compact electric SUV ID.CROSS

Economic Times

Economic Times · 2m ago

Volkswagen presents compact electric SUV ID.CROSS

Volkswagen has unveiled the ID.CROSS, a concept for a small electric SUV, as part of its strategy to develop affordable electric vehicles. The ID.CROSS will debut in summer 2026 with a price range of 28,000 to 30,000 euros ($32,780-$35,121). Volkswagen's brand chief, Thomas Schaefer, highlighted the car's significance at the IAA Munich car show, emphasizing the brand’s commitment to producing transformative, accessible electric vehicles amid growing competition from Chinese automakers.

India partners with US to launch $390 Mn financing mechanism to deploy 50K E-buses by 2027

Inc42 · 1y ago

India partners with US to launch $390 Mn financing mechanism to deploy 50K E-buses by 2027

India has partnered with the US government and philanthropic groups to establish a $390 Mn joint financing mechanism that will facilitate the deployment of over 50,000 electric buses in the country by 2027. The fund will act as collateral for manufacturers seeking credit to increase production of electric buses. With $240 Mn contributed by the Indian government and the remaining amount from the US government and philanthropic groups, the initiative aims to address issues like capital crunch and high upfront costs faced by the electric vehicle industry in India.

Tata Steel’s UK plant gets a new lifeline. Will it see a revival after £4 billion loss?

Livemint

Livemint · 9m ago

Tata Steel’s UK plant gets a new lifeline. Will it see a revival after £4 billion loss?

Tata Steel's Port Talbot plant, previously facing £4 billion in losses, has secured local council approval for a revival plan focusing on green steel production. This includes transitioning to an electric arc furnace, reducing 2,000 jobs but preserving thousands more. With £500 million from the UK government, Tata aims to cut CO2 emissions significantly. The £1.25 billion investment aims to ensure sustainable steelmaking by 2027, marking a significant boost for the UK's steel industry.

$30K Ford EV truck due in 2027 with much-simpler production process

Arstechnica

Arstechnica · 3m ago

$30K Ford EV truck due in 2027 with much-simpler production process

Ford plans to launch a $30,000 electric truck in 2027, leveraging a new flexible vehicle platform for affordability. This innovative production system features fewer parts and simplified processes, reducing labor needs while enhancing efficiency. The truck, comparable in size to a Ford Maverick, will use U.S.-made lithium iron phosphate batteries. Ford's clean-sheet design approach aims to rival contemporary EVs with advanced technologies, though production methods may not be suitable for larger vehicles like the F-150 Lightning.

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