Big Automakers Grudgingly Buy Into EVs. Oil Majors Still Lag Behind
Small, nimble startups are leading the shift to electric cars, while big U.S. automakers and oil majors are struggling to keep up.
Small, nimble startups are leading the shift to electric cars, while big U.S. automakers and oil majors are struggling to keep up.
In this episode of our CleanTech Talk podcast interview series, Chanan Bos and I sat down with Galileo Russell, CEO, Founder, Director, Producer, and Host of HyperChange TV. Our conversation ran for 1½ hours, so I’ve split it into two episodes. Below is the first episode (and a text summary), and the second episode (+ summary) will be published tomorrow.
It is time for the quintessential American vehicle to finally go electric, and no, I’m not talking about another Tesla. Ford has announced a $500 million equity investment into electric truck and SUV builder Rivian. Ford hopes to use the injection of cash to get a foot in the door for the development of a line of electric trucks and SUVs built on top of Rivian’s electric vehicle skateboard platform.
General Motors has been discussing a possible collaboration with Rivian. GM would get access to Rivian’s electric truck and SUV technology in exchange for an unspecified investment. Those talks have now reached a dead end according to Fortune.
The US market isn’t growing particularly fast and the SUV and pickup market in China is a tiny fraction of the smaller EV market.
Recently, we met with Rivian’s Founder and CEO, Robert “RJ” Scaringe, for an in-depth look into the wild Rivian adventure. What we found was a dynamic team building products on an unfulfilled segment of the electric vehicle (EV) revolution — SUVs and pickup trucks. Now, finally, America has what it’s been waiting for — it’s big, it’s green, it’s off-road, and it’s electric.
Amazon has led a $700 million funding round for Rivian, the electric pickup and SUV startup headquartered in Plymouth, Michigan. Production is scheduled to begin in late 2020.
Reuters is reporting that General Motors and Amazon are in talks with Rivian that could lead to either or both investing in the Michigan company.
I published an article early this morning about a potential partnership between GM and Tesla in which GM would build electric trucks using Tesla powertrains. Tesla denied such a partnership and GM declined to comment on the story.
The electric vehicle (EV) industry was booming in 2018. It was the most booming year of a booming decade for EVs. Below is a long, long rundown of notables changes in the industry in 2018.