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September 14, 2020
EV Startups: The Battle for the Spotlight
Source: CNBC
EV startups continue to vie for attention as they roll out announcement after announcement regarding production and funding updates. Nikola started last week with a bang when they unveiled a $2 billion partnership with GM. As a part of the deal, GM takes an 11 percent stake in the company and will lead the engineering and production of the Nikola Badger, a hybrid battery and fuel cell pickup truck expected in 2022.

The announcement sent Nikola’s stock prices soaring before they plummeted again at the end of the week following some unfavorable reporting from Hindenburg Research. The company has since defended themselves and objective analyses by third parties has helped Nikola’s share price regain some lost ground from Friday on September 14th as of 2 pm ET though the stock is well below its high on September 8th. In addition to the investment from GM, Nikola has generated $1.6 billion to kickstart production and bring online their $600 million production facility in Coolidge, Arizona. For their part, GM has also announced an alliance with Honda in early September in an effort to save money and share EV technology.

Nikola is far from the only startup to feature prominently in last week’s new cycle. Their Arizona neighbor, Lucid Motors, unveiled their first vehicle on September 9th. The Lucid Air is already being marketed as a rival to the Tesla Model S, promising greater speed, efficiency, and comfort. The car will certainly turn heads if it can deliver on its EPA-estimated 517-mile range, a level greater than most conventional vehicles. The Air is expected to enter production in early 2021, when the company will begin work on a crossover-sized vehicle. Unfortunately for the everyday driver, the Lucid Air will start at $80,000 and go up to $170,000 for premium editions featuring the maximum range. Entry level models will come in around the 400-mile range mark currently offered by the Tesla Model S.

Lucid has work to do if they want to take on Tesla; the company claimed a commanding 70 percent of all U.S. EV sales in the first half of 2020. Lucid is focusing their early development on competing with the Model S, which only accounted for 6 percent of Tesla’s total sales volumes, and comparable conventional vehicles. Seventy percent of Tesla’s overall sales came from the Model 3 which costs anywhere from $38,000 to $60,000. Tesla is also ramping up production of its crossover, the Model Y, which starts at around $50,000. Auto giants like Volkswagen have the Model Y in their sights as they prepare to bring new crossover vehicles to the U.S. market. Tesla CEO Elon Musk met with Volkswagen leadership in Germany last week to tour their EV production operations and get a feel for the ID.3 that was recently released on the European market.

New EVs are coming and gone are the days when EVs offered up fewer than 100 miles per charge. The long range all-electric vehicles are here and startups and EV specialists like Li Auto continue to set the pace for investment in the EV market, raking in $10.5 billion in investment since July. In addition to the GM-Nikola partnership, major investments announced by Fisker, Rivian, and Lordstown Motors mean that $8.5 billion of this newly announced investment will be spent in the United States. This sets the stage for Tesla’s highly-anticipated Battery Day on September 22. You’ll be able to more easily track these market developments in our Automaker Dashboard launching next week!
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Join us for EV Hub Live: Episode #3 on 9/30!
We will be hosting EV Hub Live: Episode 3 on September 30th at 1 pm EST!

For this episode, we’ll talk with Patty Monahan from the California Energy Commission and Phil Jones from the Alliance for Transportation Electrification about the role of the utility in advancing transportation electrification and where they see things headed in the near term. This episode will be co-hosted by our founder, Nick Nigro, and Kellen Schefter of the Edison Electric Institute.
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EV Hub News

15 States Commit to 100% ZEV Truck and Bus Sales By 2050

Organized by the Northeast States for Coordinated Air Use Management (NESCAUM), 15 states and Washington DC have come together in support of rapid electrification of the medium-and heavy-duty vehicle sector. The MOU signed by participating states calls for all new truck and bus sales to be zero emission by 2050. States partnering on the MOU include California, Colorado, Connecticut, Hawaii, Maine, Maryland, Massachusetts, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, Vermont, and Washington. Read More Here

West Coast Clean Transit Corridor Initiative Final Study Released

The West Coast Clean Transit Initiative, a network of nine electric utilities and two public agencies representing more than two dozen municipal utilities, published their final report on June 17, 2020. The report outlines key findings from a study assessing the prospect of implementing EV charging fro freight trucks along the entire stretch of Interstate 5. The study recommends a phased approach for electrifying the I-5 corridor. At least 27 stations spaced out at 50-mile intervals would be included in phase one of the roll out which will take place through 2025. Read More Here

U.S. DOT Awards $130 Million for Electric Transit Buses in 40 States

The United States Department of Transportation awarded $130 million for electric transit buses and supporting infrastructure through the Low- or No-Emission (Low-No) Grant program on June 2, 2020. The awards were spread over 40 states and Washington D.C. and will help transit agencies accelerate the electrification of their fleets. The 2020 funding cycle is the largest yet for the Low-No program, which has contributed almost $480 million to transit bus electrification since 2015. Read More Here

Catch Up On EV Hub News Alerts
Job Openings
Below are current job openings in transportation electrification: If you have a job posting you would like to share with EV Hub users, please send them to us in an email at info@atlasevhub.com.
Upcoming Events

The MOU, signed by 15 states and DC, aims to accelerate the transition to zero-emission trucks and buses through a collaborative process facilitated by the Northeast States for Coordinated Air Use Management (NESCAUM). Over the coming months, the states will develop a model action plan to serve as a roadmap for reducing emissions from medium- and heavy-duty transportation by 2050. The conversation will begin with an overview of the MOU, its contents and next steps on developing the Action Plan. This will be followed by moderated breakout sessions to dive deeper into the multi-state initiative and discuss implications for the states. Read more here.

September 17th @ 12pm EST

Smart charging allows the control of vehicle charging by adjusting charging speeds up, down, or even off to correlate with the needs of the grid. Smart charging can be a powerful resource to provide a balanced power supply that can be increasingly diverse, renewable and controlled based on demand. Several pilots are underway to develop an understanding and the best practices for preventing electric vehicles from overwhelming the power grid. This webinar will explore lessons learned from pilots, current trends, and more. Read more here.

September 22nd @ 1pm EST

In this episode of EV Hub Live, we’ll talk with Patty Monahan from the California Energy Commission and Phil Jones from the Alliance for Transportation Electrification about the role of the utility in advancing transportation electrification and where they see things headed in the near term. This episode will be co-hosted by our founder, Nick Nigro, and Kellen Schefter of the Edison Electric Institute. Read more here.

September 30th @ 1pm EST

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