2 min read

#30 Companies: Arrival Car, Stellantis not using Tesla's credits, Tesla not at fault in Texas

This week's most notable developments and insights on EV companies.

COMPANIES

ARRIVAL, the British electric van and bus maker and UBER announced The Arrival Car, an EV specifically for ride-hailing, due in Q3 2023 (link).

STELLANTIS says it will meet European emission rules in 2021 without the help of Tesla - meaning one of the biggest buyers of emissions credits from Tesla drops out. Tesla has made $518M in the Q1 of 2021 from credit sales (link). Not that it would be make-or-break for Tesla, but notable still.

ARRIVAL and UBER announced The Arrival Car, an EV specifically for ride-hailing. Due in Q3 2023,

IRP Systems, the provider of electric powertrain solutions for e-mobility, announced a $31M Series C round, led by Clal Insurance and Altshuler Shaman (link).

MERCEDES-BENZ CEO Ola Källenius says the firm will continue producing combustion engines while they remain commercially viable, but will be ready to switch to pure electrification as soon as it makes sense (link):

When that point comes, we will be ready, and we will not hesitate for nostalgic reasons to switch over to the new technology 100%.

TESLA applied to join the Renewable Fuel Standard (RFS) renewable credit market, which has been dominated so far by ethanol producers. The market generated ~18B credits in 2020 and is expected to be reviewed by the Biden administration for potential inclusion of EVs. (link) The ones buying the credits are often the petrochemical refiners, which might be put out of business eventually by the very same sellers like Tesla.

Elon Musk both killed the option of paying for Tesla with Bitcoin due to environmental concerns (link) and put up a vote if the buyers want to use Dogecoin (link) this week. There are 4M votes with 78.2% "Yes" right now, since you asked.

The NTSB investigation into the deadly Tesla Model S crash killing two in Texas has reached a preliminary conclusion. This crash gained a lot of media attention which mainly reported the car being on Autopilot and the driver in the backseat. NTSB concluded the Autopilot was not engaged. Per a video, the car had traveled only 550 feet (167 meters) from its house, where the driver sat into the drivers' seat and accelerated out of view. (link)

FUNNY OR NOT? Before Elon Musk got into electric cars... he was just the good old Lon Musk.

Meanwhile, TESLA's Q2 full production capacity is allegedly already sold out (link).

GORDON MURRAY GROUP announced a $424M investment to produce "the world’s lightest, most efficient and advanced EVs" (link).

NISSAN to start V2G for Australian LEAF owners already at the end of the year, with the bi-directional charger waiting for regulatory approval within the next few months (link).

DAYMARK claims it has over $300M in preorder commitments for its Avvenire line EVs (link).

CATL invested in Aiways, China's EV startup (link).

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