Electric Vehicles

What are some other signs you've noticed that signal things are moving in the right direction?

Rivian posted total fourth-quarter revenue of $1.73 billion, easily topping Wall St expectations of $1.4 billion. Total automotive revenue was $1.52 billion, primarily from the 14,183 vehicles Rivian sold in the quarter. Rivian also generated $299 million from the sale of regulatory credits and $484 million from software and services. Rivian Q4 2024 Revenue: $1.73 billion vs $1.4 billion expected Rivian Q4 EPS loss: 0.46 loss per share vs 0.68 loss per share expected CEO RJ Scaringe said, “This quarter, we achieved positive gross profit and removed $31,000 in automotive cost of goods sold per vehicle delivered in Q4 2024 relative to Q4 2023.” Rivian generated $110 million in automotive gross profit in the quarter compared to a loss of $611 million in Q4 2023. For the full year, Rivian generated a negative automotive gross profit of $7 million, an improvement from the $12 million loss in 2023.

This is very good news!

Isn't Rivian supposed to be the new golden child?

cross-posted from: https://lemmy.sdf.org/post/29808568

Archived

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[Tesla owner Elon Musk’s close involvement in the new U.S. administration could have a] potentially adverse side effect as China considers using Tesla as a pawn in trade negotiations.

Tesla car sales were flat in 2024, and to maintain its astronomic valuation, Musk has bet the automaker’s entire future on autonomy, both in the form of self-driving cars and humanoid robots, seeing them as a much more lucrative opportunity than the low-margin traditional business of selling cars. He now spends most of Tesla’s earnings calls talking up a future in which autonomous fleets of “Cybercabs” will roam the streets and replace human drivers. The company has slowly been rolling out its Full-Self Driving (FSD) tech through an optional add-on for current Tesla owners, with plans to begin testing a fully autonomous taxi service in Austin sometime this year.

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China is Tesla’s second biggest market, however, and the country has heretofore not allowed it to begin rolling out autonomous technology there. President Trump’s recent move to place 10% tariffs on goods exported from China has created an opportunity for the country to use the president’s confidant as leverage. From the Financial Times:

Chinese authorities are contemplating using the approval of Tesla’s autonomous-driving licence as a bargaining chip in trade negotiations with Trump, said two of the people with knowledge of the delay, adding that this was the main reason for the hold-up in granting the permit.

The approval could still come soon, depending on how trade negotiations developed, one of the people added. But another said that some people at the company believed a speedy consent was unlikely unless there was “a major breakthrough or concession” in trade talks.

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Tesla is victorious in almost every court case thanks to a justice system that acts as the long arm of the Chinese Communist Party.

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Tesla has sued more than a dozen journalists and even its own customers, weaponizing a legal system that operates as an extended arm of the Communist Party regime.

In every case where a ruling has ensued, Tesla won its lawsuit. One of the few open cases remains—related to Zhang Yazhou, more on that below—and that is only because she is appealing the verdict handed down against her.

Moreover, of the 81 civil judgements in which Tesla owners sued the company over safety and quality issues or contract disputes, only nine were victorious.

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[Tesla owner Elon] Musk can count on a powerful ally. China’s second-highest ranking official behind president Xi Jinping is none other than the man that helped Elon Musk build his massive Chinese vehicle factory: state premier and former Shanghai party boss Li Qiang.

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cross-posted from: https://lemmy.sdf.org/post/29758952

Here is the study (pdf).

The study also criticizes that social and environmental risks persists, e.g. in Chinese-funded battery plants in Hungary, where "a number of health & safety breaches have also been recorded and working and living conditions of migrant workers are described by some as "modern day slavery", the study says.

Summary:

Europe’s ambition to build a world-leading battery industry is facing many headwinds. As local plans falter, over 90% electric car and storage batteries are produced by South Korean and Chinese companies in the EU. An additional 40% of announced battery gigafactories are from these companies, who are global leaders in the technology and more likely to succeed.

Many European carmakers are entering partnerships with Chinese battery players to secure the supply. But there are concerns about the environmental and social conditions under which some of these facilities, e.g. CATL battery plant in Hungary, are operating. Critically, as homegrown battery companies struggle, will the upcoming partnerships with foreign battery leaders enable the EU to gain the expertise we lack? Is it the road to becoming a battery powerhouse or an assembly plant?

T&E has commissioned a study to Carbone 4 and independent experts to find out. The study analysed the environmental and social conditions in the CATL battery plant in Hungary and the LG one in Poland, as well as the technology transfer provisions in the VW-Gotion and CATL-Stellantis battery partnerships. It finds that:

While hundreds of millions were given to these two factories alone, environmental and social risks persist:

• Together, the two Asian factories analysed received at least EUR 900 mln in state aid subsidies from the Hungarian and Polish governments, often drawn from the European post-covid recovery fund. However, no environmental or social conditions were attached by the European Commission, or auditing performed.
• A clear breach of the EU's Industrial Emissions Directive on air pollution was found (but unclear if governments given derogation), as documents show that both factories exceed the EU limit for NMP, a toxic substance used in cathode manufacturing. In addition, poor water management plans and questions around the ability of the host countries, notably Hungary, to provide sufficient energy were raised.
• Precarious working and broader social conditions were also noted in Asian factories in Hungary. This is largely due to an insufficient local legal framework around temporary contract workers under which thousands of migrant workers in battery factories are hired. A number of health & safety breaches have also been recorded and working and living conditions of migrant workers are described by some as “modern day slavery”.

Upcoming Chinese-EU battery ventures lack local knowledge sharing

The analysis, largely relying on external experts due to the lack of public data, also looked at decision making, technology/skills transfer and other key conditions in two recent partnerships. It finds that:

• No EU-wide (or national) requirements on technology transfer, local content or other conditions in joint ventures exist in Europe. This results in pure business to business (or member state to China) agreements focusing on short-term battery supply.
• While VW invested EUR 1.1 billion into Gotion and holds 26.47% of shares, it is said to have less significant say in battery operations. Experts point out that the partnership is more about securing LFP battery supplies to VW’s European operations, than comprehensive knowledge or IP transfer to Europe.
• Taking the form of a 50-50 JV, Stellantis and CATL were offered EUR 300mln in state aid for the planned LFP plant in Zaragoza, Spain. No conditions on technology or skills transfer were attached to this subsidy.
• Despite very little information available on the latter JV, expert after expert has pointed out that it is about supplies, not technology transfer: for Stellantis, the main goal appears to be access to the LFP battery technology to supply electric cars on the EU market.

Probably another grift, but I would really like to see EV trucks proliferate the planet.

Hi all, As title says, I’d like to know if in your opinion electric vehicles are truly a sustainable solution that fits within the solarpunk vision (given the fact that a community exists here). I work in an urban agriculture association and spend time with engaged and activist people, and it's pretty much accepted there that EVs are a big scam. What do you think and would you have any recommendations for me to form my own opinion on this topic, which I consider particularly important? Thank you!