Our selected Tweets (from ‘X’) this week:
Apple has called time on its decade-long EV project, ‘Project Titan’. It faced numerous setbacks, including the pushback of the vehicle’s release date. Tesla CEO Elon Musk conveyed his reaction to the news with some interesting emojis.
BREAKING: Apple, $AAPL, winding down electric car plans, ending decade-long foray, per Bloomberg.
— unusual_whales (@unusual_whales) February 27, 2024
Some Apple, $AAPL, car employees to be cut, many will shift to AI
Good observations on EVs, as ever, from Andy Palmer - no doubt informed by his experience at Nissan.
Apple pulling out of its electric vehicle programme comes as no surprise. Making cars is hard; making a profitable electric vehicle is incredibly difficult - that’s why the initial cost of an EV is often higher than a combustion engine. Without incentives for consumers and…
— Dr. Andy Palmer (@AndyatAuto) February 29, 2024
Germany’s VW and Chinese EV maker Xpeng announced their first jointly developed vehicle would be a SUV. It’s expected to hit the road by 2026.
Why BYD is wary of the US market...
Why Chinese automaker BYD has no plans to expand to US market: pic.twitter.com/9JIku6ii3S
— Yahoo Finance (@YahooFinance) March 1, 2024
Chrysler recalled over 330,000 Jeep Grand Cherokee over safety concerns. The recall document outlines a steering wheel issue, specifically the upper control arm ball joint and steering knuckle may separate and cause the wheel to fall outward.
A cautionary note on VinFast...
The BYD of Vietnam just reported a huge loss for 2023—a whopping $2.4 billion. VinFast is plowing money into factories in India, Indonesia, and North Carolina as EV sales slow in major markets. https://t.co/gLcJWvjGzK
— FORTUNE (@FortuneMagazine) February 23, 2024
The Polestar 3 has started production in China. Polestar was created by a partnership between Volvo Cars and Geely. The Swedish automaker recently announced plans to offload most of its stake in Polestar and retain only 18% of its shares.
The UK’s SMMT has told the Chancellor to implement a ‘fair tax for a fair transition’ to boost EV uptake. SMMT Chief Executive Mike Dawes said that the current fiscal system discourages drivers from moving away from fossil fuels.
China’s Li Auto has launched its launches its first pure EV after several months delay. It emerges amidst other Chinese competitors such as BYD and Xpeng, and hope to get an edge in an already-saturated market.
And finally, a strange story: luxury car brand Bentley has lent itself to luxury Miami residences. Residents will travel directly up to their apartments inside their cars using a huge elevator/lift.
