Ford's Capri misses the neo-retro mark, Toyota joins IONNA, Goodwood & Xpeng ditches LIDAR - MOBILITY BRIEF_ ??????? - July 15th

?? This Week In The Mobility World

???Appointments (& resignations)

• Stellantis’ Head of Software, Mamatha Chamarthi, is leaving the mothership 26 years after joining Chrysler. Another new high profile executive leaving Stellantis this year, but her replacement has already been found in Cristiani Campos.

???Micromobility News

• Belgian e-bike company Cowboy is pausing their new racing app after facing criticism from Amsterdam officials. The app allowed riders to compete in races, which city officials worried would endanger traffic safety. Cowboy says the races would only occur in safe environments, but the company has agreed to listen to concerns and work with Amsterdam to improve safety!

???Factories/Manufacturing Updates

• Audi Brussels plant is under threat, as Audi is considering shutting down the production of the Q8 e-tron due to a low order book. 1410 jobs are at risk, as Audi is still struggling to master its own EV transition. A sale of the plant is even on the table, which could potentially attract new entrants like Chinese players or another player like Rivian?
• Meanwhile, BYD keeps exploring its option to overturn the EU sanctions, as it confirmed it will open a new factory in Turkey, which would enable them to benefit from the “beneficial access” of Turkish-made cars since 1995. Based in the city of Izmir, it would be built on lands previously owned by Volkswagen.

???Tech Updates

• A turning point for AV sensors? Xpeng is, according to CNEVPost, ditching LIDARs in favor of a vision-only based technology to equip its next model and power its Xpeng NGP ADAS system. One of first manufacturers to embed LIDAR sensors into its cars, Xpeng is now also the first to go the other way round and joining precursor Tesla as vision-only advocates. Meanwhile, Lexus is announcing to have signed with Chinese OES Robosense for the LIDARs that will be embedded into its future EVs.
• Surprise! Tesla is reportedly delaying its robotaxi launch from early August to October to build more prototypes. The FSD technology, that would be at the core of the model, is by the way apparently tailor made for King Musk and its court according to a detailed report from Business Insider. Their data would be prioritized and the problems they would encounter fixed first, leading to a system well suited for…their own trips, hence flattering coverage afterwards.
• Volkswagen Group keeps on suffering from its software issues delaying its product planning, as its new electric and electronic platform, called SSP, has apparently been delayed by 15 additional months and is not expected until late 2029. Amongst the delayed models: the new ID.4 and a new Porsche electric SUV.

?? EV Updates

• GM, Stellantis, Hyundai Mobis, Cummins, ZF and Volvo Group (trucks) are granted a $1.7B subsidy from the US Department of Energy to “support increased EV production”, through the conversion of plants towards EV technologies, including multiple plants recently unionized, testifying of the Biden’s government support for UAW.
• 11 days away from the start of the Paris Olympic Games, 120 scientists have signed an open letter calling the IOC to ditch the Toyota Mirai as the official car of the Games. Calling out the hydrogen model as “scientifically misaligned with net-zero”, they are asking for a BEV to be selected instead.

• ?? EV slowdown and Hybrid momentum: Stellantis announces it is accelerating on hybrid powertrains and will reach 30 hybrid models in Europe by the end of the year, with 6 new models planned until 2026 and a 41% year-to-date growth in the EU. Same echoes for Volkswagen, who has seen its ID sales declining, but is also betting on hybrid sales, who globally grew by 17% on the 1st semester compared to last year. Meanwhile, Mercedes-Benz is reassessing its global battery needs due to the circumstances: its joint-venture with Stellantis and TotalEnergies already postponed its expansions plans, so it’s only logical to see Mercedes-Benz estimating it may finally not need 200GWh of capacity by 2030.
• A clash in France between Renault and the French federation of recycling companies, as they criticize unfair contracts between Renault’s own recycling subsidiary co-owned with Suez, and some end-of-life vehicles processing centers, enabling Renault to have preemptive rights to recycle any vehicle they would collect.
• Sony and Honda will share a common EV platform between Afeela (Sony-Honda joint venture) and Honda to lower their own development costs. Honda would focus on its o series $40K models while Afeela would be positioned on the premium market.

?? EV Charging Infrastructure Updates

• The North-American charging network joint-venture IONNA is welcoming Toyota as a new member, joining 7 other carmakers in their goal of installing 30K chargers by 2030 on the continent. Is Toyota aware it’s not hydrogen here? Another interesting thing is the visual identity being built at IONNA: we’ve already shared their first logo, but it’s now some glimpses of the design of the stations that is being shared here, and from what we can see, it seems like they’ve chosen to go bold, which is not something we dislike. A Gulf vibe we’d even say.

???New Car Reveals

• Ford is reviving the Capri, but brace yourself – it's not the nostalgic comeback you might have anticipated. The new model is an electric SUV with a rather unremarkable design, a significant departure from the sporty classic. Constructed on Volkswagen's MEB platform, it offers a respectable range of up to 390 miles (627 km). The online community is already abuzz, criticizing this "homage gone wrong" and its debatable neo-retro aesthetics. Frankly, it resembles a Polestar more than a true next-generation Ford Capri.

• Fiat aims to shake up the electric car market with a sub-€25,000 version of its iconic Panda. Produced in Serbia, this new electric hatchback boasts an estimated range of 320km, putting it in direct competition with the Citroen e-C3 (part of the same group, Stellantis) and the impending arrival of even more affordable Chinese EVs.

• We talked about in one of last newsletters: Spanish energy company Acciona has now officially launched its battery swappable NanoCar Silence S04. €7000 for the vehicle, and a monthly subscription to pay for batteries and access to battery swap stations to will proceed in a replacement in less than 30 seconds. Built in Barcelona, it will also reach both French and Italian markets through a retail partnership with Nissan.

It's hard not to come back to all the highlights from the Goodwood Festival of Speed. ??

• MG's Grand Celebration: MG kicked off its centennial celebrations by unveiling the updated HS SUV. Featuring a 1.5T petrol engine with 169 hp and 275 Nm of torque, it offers a choice between a 6-speed manual or a 7-speed DCT automatic, reaching 0-100 km/h in 9.4 seconds. A new 1.5T Plug-in Hybrid option is also available, combining a 142 hp petrol engine with a 154 kW electric motor, achieving 0-100 km/h in 6.8 seconds and an electric-only range of up to 120 km. The Festival also showcased the MG Cyberster and the iconic MGB, commemorating MG's rich history.

• Ford’s Rally Ambitions: Ford unveiled the Raptor T1+, the vehicle set to compete in the Dakar Rally starting in 2025. Featuring a 5-liter V8 Coyote engine, the Raptor T1+ weighs 2010 kg, is 2300 mm wide, and sports 37-inch tires. With over 10,000 km of testing, the vehicle prominently displays Red Bull's colors, marking Ford's collaboration with the brand ahead of its return to F1 in 2026.

• Polestar’s Sporty Showcase: Polestar made a strong statement with the near-production version of the electric Polestar 6 cabriolet. Returning to Goodwood with their range of SUVs and crossovers, Polestar also introduced an enhanced version of their upcoming flagship under the BST moniker. This prototype gives us a sneak peek into the final version set for a 2026 release.
• RB17 Hypercar Unveiling: Red Bull revealed the RB17, the last car designed by Adrian Newey. This track-only hypercar features a mid-mounted naturally-aspirated V10 engine, achieving F1-equivalent lap times and exceeding top speeds of 350 km/h. Weighing under 900 kg, only 50 units of this exclusive vehicle will be produced.

• Lotus Evija Incident: A $2.3M Lotus Evija crashed, attributed to pilot error according to Lotus. However, the car’s tricky behavior raises questions. Notably, an F1 driver was behind the wheel during the incident.

?? Marketing & Retail Updates

• Renault Rafale replaces DS7 Crossback as official presidential car in France.

???Investment/Financial/Legal Updates

• Henrik Fisker maintain the bankruptcy of its own carmaker alive by dropping its salary to $1. Not enough to reassure all Fiskers creditors though.
• Russia’s Chinese cars reservoir is being dried out by US sanctions, as Reuters reports that payment issues are now forcing Chinese carmakers to decrease their exports to Russia. Since the start of the Ukraine war and following the withdrawal of western carmakers of Russia, China brands grew considerably to seize half of the Russian market.
• Belgian connected bike company Cowboy reported a €33.7 million revenue in 2023, down from €41 million in 2022 (though they claim bike sales itself grew 35% with adjusted calculations). Despite the revenue dip, Cowboy boasts a significant increase in gross profit margin from 10.29% to 17.89%. To achieve profitability, they're looking to software sales with high margins (around 90%) and might seek additional funding by year-end.
• Swedish micromobility company Voi reported strong financial performance in 2023. They achieved adjusted EBITDA profitability on a last twelve-month basis from April 2024, reaching SEK 30M in adjusted EBITDA. Revenue grew 18% to SEK 1,416 million, driven by strong demand in Germany, Sweden, and the UK. They also achieved a gross margin of 50%, a 6% increase from 2022!

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