AD #4154 - GM Abruptly Cancels EV Tax Credit Workaround; Aluminum Plant Fire Could Cost Ford $1 Billion; Ferrari Reveals 1st EV Chassis
Autoline Daily
AD #4154 - GM Abruptly Cancels EV Tax Credit Workaround; Aluminum Plant Fire Could Cost Ford $1 Billion; Ferrari Reveals 1st EV Chassis
Annotations will appear as you listen
0:00
9:22
LIVE
Speaker 1: This is Autolne Daily, the show dedicated to enthusiasts of the global automotive industry. Ford is going to take a
big hit due to that fire at aluminum supplier Novellas's plant in New York. Production of the F one fifty
is expected to be disrupted for months, which analysts estimate.
Speaker 2: Could cost Ford a billion dollars.
Speaker 1: The automaker announced that production of the F one to fifty Lightning will be paused next week. Ford didn't say
if production will be disrupted at the other plants that make the truck, but it wouldn't be surprising to us if that happens. Ford is the biggest user of aluminum
from Novellas's New York plant and is scrambling to find other sources.
Speaker 2: But this likely won't just impact Ford.
Speaker 1: Around a dozen other automakers get aluminum from Novellas, and it supplies forty percent of the aluminum to the US auto industry.
Speaker 2: In other Ford news, the.
Speaker 1: Automaker is scaling back some applies of lithium because of weaker than expected EV demand. Australian lithium producer lion Town
Resources says that Ford will not be taking shipments in twenty twenty seven or twenty twenty eight, and that Ford is cutting the amount of lithium that it receives in half, it's not too surprising to see Ford reduce its supply lithium.
Last week, CEO Jim Farley said he expects US EV market share to also be caught in half now that the federal EV tax credit has been eliminated.
Speaker 2: EV chargers are opening in the US at a record pace.
Speaker 1: According to the Department of Energy, about seven hundred and eighty fast chargers opened in the third quarter, and through the first nine months of the year, the charging infrastructure grew by nineteen percent. And while most analysts expect that
EV sales will fall out that the federal tax credit is gone, executives that the charging companies aren't too concerned.
They expect more chargers to open because the infant structure is still catching up to EV adoption, and they believe EV sales could remain steady since more affordable models will soon be hitting the market. And more on that in
the second half of the show. Automakers in Europe are
continuing to push the EU to roll back CO two emission targets for vehicles automakers must hit intermediate CO two emission targets by twenty thirty before cutting emissions one hundred percent by twenty thirty five. But the European Automobile Manufacturers
Association or ACEA, says the industry can no longer achieve the targets because EV demand is weaker than expected and the charging infrastructure is inadequate. So the association is proposing
that plug in hybrids and range extended electrics be given a larger role in reducing the targets, and that small evs.
Speaker 2: Should get a higher credit for meeting the goals.
Speaker 1: Automakers also want carbon neutral fuels to count towards CO two reduction as well as in sets for decarbonizing, like using green steel.
Speaker 3: Performance that shines even in the rain. That's what really matters.
Rich don't pretends to tires improved grip in wet conditions.
Speaker 1: While it was said to have cleared the move with the IRS, GM has abruptly canceled its workaround to the expired seventy five hundred dollars EV tax credit right before those credits were set to expire at the beginning this month.
The company was going to make down payments on EV's already at dealers, which would have allowed it to claim that seventy five hundred dollars, and then it was going to pass those savings along to lease customers.
Speaker 2: However, the move was even.
Speaker 1: Criticized by a US senator who urged for the loophole to be closed. So GM says, after quote further consideration,
it's decided to not claim that tax credit money and will instead provide about six thousand dollars out of its own pocket for EV leases.
Speaker 2: But instead of making the offer until the.
Speaker 1: End of the year like the previous deal was supposed to be, the new discount will only last until the end of this month. As you may remember, both GM
and Ford were involved in this tax credit workaround, but so far Ford has not commented on the matter.
Speaker 2: In other GM EV news, Chevy.
Speaker 1: Held a special reveal event for the new Bolt, and more details are pouring in about the entry level electric.
As we already knew, styling is mostly unchanged from the old model, but there are a few tweaks to the front rear facia, and a larger infotainment screen with GM's newest operating system is also offered.
Speaker 2: The new Bolt is going to feature a.
Speaker 1: Sixty five kilowad hour LFP battery pack that the company estimates will provide up to two hundred and fifty five miles of range, charging rate increased to one hundred and fifty kilowatts, and it will also feature plug in charge and bi directional charging capability. Power comes from the same
two hundred and ten horsepower electric motor that's found in the Equinox EV. A few other highlights include a native
next charger, a heat pump, and torsion bar rear suspension.
Look for the new Bolt to start hitting dealers show rooms early next year. Two trims will be offered at
Launch LT and RS. LT starts at just under thirty
thousand dollars including destination charges, while the RS trim starts at about thirty two thousand. Another even cheaper LT version
is expected to follow at just under twenty nine thousand bucks.
That will make the Bolt the cheapest EV in America, just undercutting the new Nissan Leaf, which starts at a little over thirty one thousand dollars including destination charges. And
speaking of new evs, Ferraro revealed its all new eight hundred volt EV chassis and the name of its very first fully electric model, the Electrica, but the company says it won't be a supercar because current battery tech can't provide the kind of performance in handling that it wants, so it will be some kind of larger four door vehicle.
The one hundred and twenty two kilowua hour battery pack is located inside of the center of the frame structure, but Ferrari says eighty five percent of the batteries are located at their lowest possible position to keep weight down low.
It claims the center of gravity in the Electrica is eighty millimeters or three point one inches lower than an equivalent gas powered model. The front and rear are fitted
with e axles that each have two electric motors, which will combine for nearly one thousand horse power and provide zero to sixty performance of two and a half seconds.
To help control all that power, is an updated version of Ferrari's forty eight volt active suspension system, which it says takes ride comfort, body control, and vehicle dynamics to even greater heights. The model is expected to weigh about
twenty three hundred kilograms or just over five thousand pounds, and offer more than five hundred and thirty kilometers or roughly three hundred and thirty miles of range. First deliveries
are expected about a year from now, with pricing around five hundred thousand bucks. If you haven't noticed already, we
posted some videos John shot from this year's Battery Show, which is going on right now in Detroit. There's two
interviews that you can watch right now, and we'll have a few more coming later today, so don't miss out on that. Also, be sure to tune into Autoline after
hours later today we'll be talking about some of the hottest news topics from RIVN and Tesla, as well as getting into some of the most compelling vehicles that you can buy today. You can join us live on our
website or YouTube channel at three pm Eastern Time today, but that brings us to the end of today's show.
Speaker 2: Thanks and I hope to see you later.
Speaker 4: Auto Line Daily is brought to you by Bridgestone Solutions for Your Journey CSP the Composites Solution partner Intrepid Control Systems over the Air Engineering boost your game and thanks to the following YouTube and Patreon members.
Speaker 2: Hi, I'm Don Hatfield from Trepic Control Systems. And I'm
presenting the wireless BMS solution from Intrepret Control Systems of Come and see us in this demo at Booth forty six hundred at.
Speaker 1: The Battery Show, and also analog device will either as well.
Speaker 2: Be happy to talk to you and help you with your solution.
Speaker 4: At CSP, we work with OEM engineers across the country on their journeys to lighter, safer, and more eco friendly vehicles.
Speaker 2: Learn more at VCSP dot com.
About this episode
Ford faces major production disruptions and potential $1 billion losses after a fire at a key aluminum supplier, impacting the F-150 Lightning. Ford is also scaling back lithium purchases amid weaker EV demand, influenced by the loss of federal tax credits. GM abruptly canceled a tax credit workaround, opting to offer its own EV lease discounts instead. Chevy revealed updates to the Bolt EV, including a larger battery and lower pricing. Ferrari unveiled its first electric chassis and model, the Electrica, a high-performance four-door EV with nearly 1,000 horsepower and advanced suspension, expected next year.
Original notes
- Aluminum Plant Fire Could Cost Ford $1 Billion - Ford Scaling Back on Lithium - EV Charger Installation Growth Continues - EU Automakers Can't Hit C02 Targets - GM Abruptly Cancels EV Tax Credit Workaround - GM Reveals the New Bolt - Ferrari Reveals Its 1st EV Chassis
Autoline Daily
Autoline
0:00
9:22