The German government is likely to decide by the end of the year how much government assistance the American electric car maker Tesla will receive in connection with the construction of a battery cell plant near Berlin.
The European Union in January approved a plan that provides government assistance to Tesla, BMW and other manufacturers to support their efforts to build local battery production for electric vehicles and reduce imports from China, an industry leader. The € 2.9 billion European Battery Innovation project covers more than 40 companies.
The German Economy Ministry estimates that Tesla plans to invest 5 billion euros in a battery plant in Grünheide, near Berlin, which will complement Tesla’s almost-built electric vehicle plant.
With this volume of investment, the American manufacturer can count on government subsidies in the amount of 1.14 billion euros. This assessment was published by the Tagesspiegel newspaper. She confirmed the data of the resource Business Insider, which announced in February that Tesla will receive at least 1 billion euros from Germany in government subsidies for the construction of a plant for the production of batteries.
A spokesman for the Economy Ministry said the final amount has not yet been determined. Negotiations between the automaker and the European Commission are ongoing. He added that the final decision is likely to be made before the end of the year.
London’s largest taxi expects to be fully electric by 2023
London-based taxi and courier company Addison Lee has pledged to have only electric vehicles in its fleet by 2023. Even excluding the recent acquisition of the ComCab taxi service, the company has more than 4,800 vehicles in its fleet, and with this acquisition more than 7,000, making Addison Lee the largest taxi service in London.
Addison Lee now has 650 electric vehicles, and the company has turned to Volkswagen for a complete fleet renewal.
Addison Lee is investing $ 218 million in the refurbishment, choosing the Volkswagen ID.4 as the base model. The basic version of the ID.4 is equipped with a 77 kWh lithium-ion battery for a range of 400 km. Power plant with a capacity of 201 hp allows you to reach speeds of up to 160 km / h.
The first 450 electric vehicles Addison Lee will receive by the end of this year, after which it is planned to add 200 electric vehicles monthly. The company also plans to build its own charging infrastructure using its $ 4 million Future Mobility Fund.
The craziest week in Tesla history has begun: the company prepares to ship a record number of cars
Elon Musk, the head of SpaceX and Tesla, said in a new email to employees that this week will be Tesla’s craziest week in history in terms of the intensity and quantity of new vehicle shipments.
Tesla has the most active shipments at the end of the quarter due to its distribution system, which is very different from other automakers using third-party dealerships. Because Tesla sells directly to customers, the automaker owns the vehicle until it is fully delivered to the customer and paid for. This makes delivery times extremely important for Tesla from a financial standpoint, as the automaker bears the cost of building these vehicles and doesn’t receive any money until customers can pick them up. So when Tesla has a lot of vehicles on its way to its customers at the end of the quarter, the quarter looks bad financially.
This is why Tesla is trying to produce cars for export at its Fremont plant and Gigafactory Shanghai at the beginning of the quarter, and cars for local deliveries later in order to secure transit time by the end of the quarter. However, this strategy results in Tesla’s sales and delivery team having to handle significant volumes of vehicles that need to be delivered by the end of each quarter, which are called “delivery waves” or “delivery shocks.”
The third quarter of fiscal 2021 ends this week, and Musk said the week will be the busiest in the company’s history. Earlier, the head of the company predicted that September will be the craziest month for Tesla.
Musk previously said that Tesla assembled many vehicles earlier this quarter that were not ready for a while due to supply chain problems. Parts were added later, leading to an increase in vehicle inventories towards the end of the quarter.
Musk hopes that the situation will return to normal in the next quarter.
Xiaomi invests in Chinese self-driving car processor Black Sesame
The Chinese company Black Sesame Technologies, which develops processors for self-driving systems based on artificial intelligence, announced that its valuation approached $ 2 billion after attracting “hundreds of millions of dollars” from several investors, including Xiaomi. The new capital was raised through strategic investments and two tranches of Series C capital injections.
Key investors include the Hubei Xiaomi Yangtze River Industry Fund, Wingtech Technology, which collects smartphones for leading brands including Xiaomi, and smart vehicle manufacturer FulScience, a joint venture between Chinese automotive companies FAW Group, Fawer Automotive Parts and Huizhou Desay SV Automotive. …
Xiaomi’s investment is part of a roadmap launched at the end of March to enter the automotive sector with a new smart electric vehicle business.
Founded in 2016, Black Sesame specializes in single-chip systems that provide imaging and sensing capabilities for self-driving cars. The company has already released two series of AI processors to date and is supplying Level 2 and 3 personalized enhanced driver assistance systems and self-driving solutions to companies such as Robert Bosch, SAIC Motor and BYD.
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