Motor Morsels: English Vans, Vietnamese Downloads, American Batteries, and Chinese Honesty

Arrival tries again for US EV tax credits, VinFast recalls ALL their US models, Jim Farley says batteries are too big and those making them smaller will win, Xpeng will deliver fewer cars in Q2 (shareholders are bummed).
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Motor Morsels: English Vans, Vietnamese Downloads, American Batteries, and Chinese Honesty

🚐🇺🇸💪Let's try again! Electric van startup Arrival, originally dubbed Britain's Tesla, is refocusing on the US market with a lifeline from the Inflation Reduction Act's subsidies and a second SPAC merger. With $283 million expected from this merger, Arrival will target US production of medium-duty vans, leveraging big ole subsidies. Despite financial struggles and layoffs, Arrival is banking on the uncluttered Class 4 van segment to kickstart success.

💻🛰️🚙Downloading safety! Vietnamese EV maker VinFast has recalled the first batch of 999 VF8 electric SUVs sent to the US due to a software error potentially obscuring critical safety information on the display. VinFast is issuing an over-the-air update to rectify this issue. This voluntary recall is an early hurdle for the ambitious EV manufacturer as it expands globally.

🔋📈🤷‍♀️Why are these batteries so big, tho?? Ford CEO Jim Farley questioned the industry trend towards bigger EV batteries, emphasizing efficiency over sheer size. He warned that massive batteries are expensive and bring environmental and safety concerns due to vehicle weight. Farley highlighted Chinese automakers, especially BYD, as Ford's primary EV competition, surpassing Tesla and GM.

📢👎📉Sometimes telling the truth hurts, but lying is illegal. Chinese EV maker, Xpeng's shares fell after it reported earnings below expectations and a forecasted drop in car sales. It expects Q2 deliveries to fall by 36.1%-39.0% YoY, while Q1 revenue declined 50% YoY to 4.03 billion yuan ($571.6 million). However, Xpeng, hurt by China's economic situation and rising competition, plans to boost sales with new launches, including the G6 SUV.

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