Latest news with #electricvehicles
CBC
2 hours ago
- Business
- CBC
Nearly 200 suddenly laid off at NextStar EV battery plant in Windsor: Contractor
Exclusive NextStar says its workers and operations are unaffected Some workers at the NextStar Energy electric vehicle battery plant in Windsor, Ont., have been abruptly laid off, according to the contractor for which they worked. Eric Farron, vice president of operations at Sylvan Canada, said Friday that nearly 200 of the company's workers at the facility — 145 millwrights and ironworkers, 45 electricians, and three pipe fitters — were affected. Farron said the firm was told to "immediately demobilize" on Thursday night, and that the workers still had a significant amount of work left to complete. Mike Meloche, business agent for UA Local 527 — which represents plumbers, steamfitters, and welders in southwestern Ontario — said "a lot of guys" at the plant had been sent home Friday and that some had been told not to return until Wednesday. NextStar, a $5-billion joint venture between automaker Stellantis and South Korean battery maker LG Energy Solution, said its employees and operations are unaffected by the decision. "Change in works are a standard part of operations and reflect ongoing efforts to align project needs," spokesperson Daniela Ferro said in a statement. "The company looks forward to the successful completion of the NextStar Energy site." Ferro did not clarify what those changes were, what caused them, or whether the layoffs were temporary or not. Construction on the sprawling east end battery plant, the first of its kind in Canada, began in 2022. Work at the site paused in 2023 in light of fresh incentives for EV battery production south of the border, leading the provincial and federal governments to pledge $15 billion in tax breaks to keep the project alive. The companies have said the plant will eventually employ 2,500 people and supply batteries for up to 450,000 Stellantis vehicles annually. The facility started producing battery modules in October. The company's CEO previously said he expected production on the battery cells themselves to start this fall.
Yahoo
4 hours ago
- Automotive
- Yahoo
Is QuantumScape Stock the Next NVIDIA, and Should You Buy It?
QuantumScape Corporation QS recently hit a major milestone, boosting investor interest as 17.4 million shares were traded on Thursday, a 38% increase from the previous session. QuantumScape's shares jumped 34.9% in yesterday's trading and have increased 92.7% over the past month. The solid-state battery maker is now drawing attention from investors due to higher trading activity and positive news, drawing comparisons to NVIDIA Corporation's NVDA success with artificial intelligence (AI) technology, and prompting thoughts about its potential as a buying opportunity. Let's explore – QuantumScape's shares surged following a breakthrough in its solid-state battery production process. QuantumScape introduced its Cobra separator technology, reigniting hopes among market analysts that the solid-state battery dream is becoming a reality. The innovative Cobra separator process is 25 times faster than the previous Raptor system, and a more compact and cost-effective method for producing solid-state battery separators. Cobra will require less floor space than its predecessor and is designed for gigawatt-scale battery production. All these factors make Cobra economically viable for mass production. QuantumScape's Cobra separator process reached baseline production ahead of schedule, marking a breakthrough in solid-state batteries for electric vehicles (EVs). This development overcomes the challenge of large-scale production that has previously hindered the EV industry's adoption of the technology. If QuantumScape fulfills its battery innovation potential, it could transform EV power and challenge NVIDIA's performance, but it's uncertain whether it can replicate NVIDIA's successes given its history of unmet promises. Meanwhile, the rising demand for Blackwell chips, AI graphics processing units (GPUs) and CUDA software will fuel NVIDIA's growth in the cloud and automotive sectors, making it too early to expect QuantumScape to match NVIDIA's accomplishments. Nonetheless, NVIDIA has been able to generate profits and control costs in a better way than QuantumScape, with a return on equity (ROE) of 109.9% compared to QS's negative 41.4%. QuantumScape struggles to use shareholder investments effectively (read more: Is Stock the Next NVIDIA and a Buy?). Image Source: Zacks Investment Research Despite the recent political challenges, the EV market is set to grow. Demand for advanced batteries remains strong, particularly for those that are safer, lighter and quicker to charge. QuantumScape's advancements in solid-state lithium battery production could lead to significant milestones and boost its stock value. Stakeholders are advised to retain their shares. For new entrants, the QuantumScape stock might be risky. Meeting long-term EV contract demands and maintaining quality standards remain challenges, and falling behind could cause QuantumScape's stock price to drop. The QuantumScape stock, anyhow, is presently more volatile than the markets it trades in. It has a beta of 4.27. Image Source: Zacks Investment Research For now, QuantumScape stock has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report QuantumScape Corporation (QS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
CNA
5 hours ago
- Automotive
- CNA
Tesla completes first fully autonomous Model Y delivery ahead of schedule
Tesla CEO Elon Musk said on Friday that the first fully autonomous delivery of Model Y from the factory to a customer's home across town was completed a day ahead of schedule.
Car and Driver
5 hours ago
- Automotive
- Car and Driver
USPS EV Trucks Are Still Funny-Looking, Now Harder to Kill Off
A new ruling by the U.S. Senate parliamentarian requires a supermajority to scrap existing U.S. Postal Service EV plans. There are 7200 EVs in the USPS fleet, with new replacements for the old fleet coming in at a split of 50/50 for EV and combustion power. The Oshkosh Next Gen delivery van has polarizing styling, but the mail carriers love it. The battle over the U.S. Postal Service's electrification plans had a new front drawn recently, with U.S. Senate parliamentarian Elizabeth MacDonough declaring that a supermajority vote would be required to scrap existing EVs and charging infrastructure. Currently, the USPS has purchased 7200 EVs and spent $500 million on charging infrastructure, and the tax and spending bill before Congress had been looking to overturn the electrification mandate set under the Biden administration. That mandate laid out provisions for a minimum of 45,000 electric delivery vans, with an additional 10,000 Ford E-Transit vans ordered on top of that figure. The USPS fleet of 160,000 delivery vehicles has been being replaced with a near 50/50 split between EVs and combustion-powered machines, and by next year the replacements would be all EVs. The original Grumman LLV delivery vans used by the USPS were an improvement over the buckboard Jeep DJs they replaced, but that replacement dates back to the 1970s. The Oshkosh Next Generation Delivery Vehicles might look like background traffic in a Pixar film, but they are a huge improvement for comfort and safety, and already beloved by mail carriers. Caleb Miller | Car and Driver Politics aside, electrification of mail delivery is one of the more easily planned fleet rollouts. A fire truck, ambulance, or other emergency service vehicle may service a particular area, but it doesn't have a set route. A mail carrier van runs the same path several times a week, so fleet managers can plot out service, charging times, and so on. Further, with all that stopping and starting, battery regeneration saves wear on brakes. Canada Post Canada Post's Morgan Olson C250e electric delivery truck. North of the border, Canada Post has been replacing and supplementing its fleet of hybrid Ford Transit vans with the Morgan Olson C250 (above). Available as the all-electric C250e, with a battery-powered driveline sourced from Rivian, this conventional step van isn't as radical-looking as the USPS Next Gen machine, but it serves the same purpose and is based on the same pragmatic reasoning. With a supermajority requirement in place, the USPS fleet replacement rules will likely generate further legislation around timelines, with more debate to be had. The USPS points out that simply canceling contracts, mothballing existing vehicles, and ripping up infrastructure would create considerable waste, some $1.5 billion lost. Scott Olson via Getty Grumman LLV trucks are outdated. Meanwhile, the era of the Grumman LLV simply can't persist. Especially in these hot summer months, the vans are too hot, too hard on mail carriers, and are built to 1970s safety standards. Whether pure battery EV, hybrid, or small-displacement combustion power, neither rain nor heat nor gloom of night nor political wrangling will stay the USPS fleet from its much needed modernization. Brendan McAleer Contributing Editor Brendan McAleer is a freelance writer and photographer based in North Vancouver, B.C., Canada. He grew up splitting his knuckles on British automobiles, came of age in the golden era of Japanese sport-compact performance, and began writing about cars and people in 2008. His particular interest is the intersection between humanity and machinery, whether it is the racing career of Walter Cronkite or Japanese animator Hayao Miyazaki's half-century obsession with the Citroën 2CV. He has taught both of his young daughters how to shift a manual transmission and is grateful for the excuse they provide to be perpetually buying Hot Wheels. Read full bio
Auto Blog
6 hours ago
- Automotive
- Auto Blog
Tesla Sales Drop in Europe for Fifth Straight Month
Another tough month for Tesla Tesla's grip on the European electric vehicle market is slipping fast. The company's sales have dropped for the fifth consecutive month, and there's no clear sign of recovery. According to new data from the European Automobile Manufacturers' Association (ACEA), Tesla's registrations in the EU, UK, and EFTA countries plummeted nearly 28% in May compared to the same month last year. That's just the latest blow in what's become a sustained slide. 0:00 / 0:09 Rivian R1T delivers on this EV feature that Tesla forgot Watch More So far in 2025, Tesla has sold about 75,196 vehicles across these markets — a 37.1% year-over-year drop. Market share is shrinking just as the electric vehicle segment continues to grow across Europe, suggesting that Tesla isn't simply suffering from a slowing market, but falling behind in an increasingly competitive one. The numbers tell a grim story Tesla's European sales fell sharply right out of the gate in 2025. In January, the company sold just 9,945 vehicles — a 45.2% year-over-year decline. February followed with a 40.1% drop. March fared slightly better with a 28.2% dip, but April was brutal, with demand nearly halving. May's 27.9% decline sealed a five-month losing streak. Tesla Model Y Juniper — Source: Tesla These losses reduced Tesla's market share in the region from 2.1% in early 2024 to just 1.3% in 2025. While the company is shrinking, the EV market around it is growing. All-electric vehicles accounted for 17.1% of the overall market through May, up from 13.1% during the same period last year. Why Tesla is falling behind There's no single cause behind Tesla's slump, but several factors are at play. First, the competition has intensified, particularly from Chinese automakers offering lower-cost EVs that appeal to price-sensitive European buyers. Brands like BYD and MG are rolling out models that often undercut Tesla on price while offering comparable range and features. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. BYD Seal — Source: BYD Second, Tesla's own product lineup is aging. The Model S is over a decade old. The Model 3 and Model Y, while recently refreshed, are no longer the standouts they once were. Other automakers have caught up, both in terms of technology and overall appeal. Third, CEO Elon Musk's increasingly political and polarizing public persona may be tarnishing Tesla's brand image in parts of Europe, although quantifying that impact is challenging. Still, public perception matters, and Musk's antics may be wearing thin with European consumers. A comeback won't be easy Tesla Model X and Model S — Source: Tesla Tesla's best hope for reversing course in Europe might be the long-rumored low-cost model aimed at expanding its reach. However, confusion reigns about whether such a vehicle will even be coming. Reuters reported in 2024 that the affordable Tesla had been shelved — a claim Musk denied, calling the report a lie. Final thoughts In the meantime, rivals are flooding the market with options, and European regulations are tightening. With the EU's planned 2035 ban on new combustion-engine cars looming, every automaker is doubling down on EVs. That could squeeze Tesla further unless it finds a way to compete on both innovation and price. For now, the company's dominance in Europe looks increasingly like a thing of the past. About the Author Elijah Nicholson-Messmer View Profile
