General Motors is scaling back its EV plans with a $7.1 billion charge, while Stellantis is discontinuing plug-in hybrids in the U.S. to focus on regular hybrids and extended-range EVs. Range anxiety remains the top barrier for U.S. EV adoption, despite lower fuel costs being a key motivator. The Brussels Auto Show showcased new electric models like Kia's EV2 and Hyundai's Staria Electric van, alongside updates from Stellantis brands including Peugeot, Fiat, Opel, and DS. The episode also highlights industry shifts and emerging EV technologies.
Topics:gm ev write-downstellantis plug-in hybrid discontinuationev adoption barriersbrussels auto showkia ev2hyundai staria electricstellantis commercial vehiclesev battery technologyrange anxietyautomotive industry trends
- General Motors Takes $7.1 Billion EV Hit - Stellantis Kills Off Plug-In Hybrids in U.S. - Our Next Energy Ditches EV Battery Business - Range Anxiety Still Top Concern for Buying an EV - Kia Unveils New EV2 In Brussels - Hyundai Shows Off All-Electric Staria Van - Stellantis Brussels Show Reveals
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Speaker 1: This is outderligned daily, the show dedicated to enthusiasts of the global automotive industry. In order to help stop the
massive losses with its EV business, Ford wrote off nineteen point five billion dollars in EV investments last month, and now General Motors is doing the same. GM said it
will take seven point one billion dollars in charges against its fourth quarter earnings as it scales back its EV plans.
That's in addition to a one point six billion dollar write down that it took in the third quarter, and GM says it will take more charges this year, but they'll be less than the twenty twenty five amounts. The
money is related to canceling or renegotiating contracts with suppliers and reworking its EV production footprint, and while GM is rolling back its future EV plans, the company says these charges won't affect production of its current EV lineup. And
while GM is scaling back plans for fully electric vehicles, STILLANTIS is killing off its plug in hybrids. The Drive
reports that the automaker is ending production of the plug in versions of the Jeep Wrangler and Grand Cherokee, and the Chrysler PACIFICA minivan for the twenty twenty six model year in North America. Stalantis says it's discontinuing the models
because of quote shifting customer demand. But while it's giving
up on plug in hybrids, Stalantis will focus its electrification efforts on regular hybrids and extended range evs EV batteries.
Start up our next energy or one plan to be the first US based company to open a lithium iron phosphate or LFP plant in the country, but it's abandoning the automotive business altogether. The company says it's pivoting to
gridge storage systems and the locomotive and defense sectors. As
a result, it's laying off forty five percent of its workforce.
The company says it has thirty five million dollars in new contracts, but it needs sixty million dollars to break even this year. However, its CEO expects to hit that
break even point. Range anxiety is still the top reason
US consumers are reluctant to buy an EV. According to
a new survey from Deloitte, forty seven percent of respondents said that driving range is the greatest concern for adopting a fully electric vehicle. That was followed by charging time
and overall cost. Interestingly, in South Korea, India, and China,
one of the top concerns with evs is the safety of battery technology. Lowering fuel costs remains the top reason
that US consumers said that they would consider an EV for their next vehicle purchase. However, only seven percent of
those surveyed said they intend to buy an EV as their next vehicle.
Speaker 2: At CSP, we work with OEM engineers across the country on their journeys to life later, safer, and more eco friendly vehicles. Learn more at VCSP dot com.
Speaker 1: I wish more auto shows could be like this year's Brussels Show because there's so many new models on display.
Kia revealed the EV two, its new entry level electric suv, about a size down from the new Nissan Leaf. The
EV two will be offered with two battery sizes, about forty two kilowad hours and sixty one kilowad hours. Kia
estimates that the smaller pack will return a WLTP range of up to three hundred and seventeen kilometers or nearly two hundred miles, while the sixty one kilowad hour pack is estimated at up to four hundred and forty eight kilometers or about two hundred and seventy five miles of range.
In an effort to get the most out of its small footprint, the rear seats slide and recline, and there's a front as well. Production of the EV two starts
in the first quarter of this year, and sales should follow soon after. Sticking with the Hyundai Group, Hyundai pulled
the wraps off the Staria Electric. While the van has
been on sale in some markets around the world since twenty twenty one, this is the first fully electric version.
The front drive Staria combines a one hundred and sixty kilowat or roughly two hundred and ten horse power electric motor with an eighty four kilowatt hour battery pack. The
setup provides up to four hundred kilometers or nearly two hundred and fifty miles of range, and thanks to an eight hundred volt architecture, fast charging from ten to eighty percent in twenty minutes. The van is also offered in
seven or nine seat configurations and even has the ability to toe up to two thousand kilograms or forty four hundred pounds. The Staria Electric goes on sale in Korea
and Europe in the first half of this year, with other markets to follow. Stillantis probably has the biggest presence
at the Brussels Show. It even has an entire section
dedicated to its commercial vehicles, So we'll rifle through these kind of quick Pougeot showed the refreshed four oh eight, which gets a few styling changes, slightly more power for the PHEV, and a couple of upgrades for the EV version.
Fiat announced it's bringing back the Cubo Van early this year.
The new Cubol will be offered in standard and long wheelbase versions for five to seven passenger seating and with diesel gas and electric power trains. Opal showed the new
Astra Alpha debuted an even more performance oriented version of the Julia Quadrifolio, and DS Automobiles took its model called the Number four and completely tricked it out to look like an off road rally car. And if you've got
a minute, check out our coverage of CES. We have
interviews with automakers and suppliers about the latest and greatest tech that they're developing. You can watch those videos on
our website or YouTube channel. Well, that's it. For today's show.
Thanks for watching, and I hope that you have a great weekend.
Speaker 3: Auto Line Daily is brought to you by Alex Partners.
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