Happy Sunday! This week in mobility... Mazda is playing catch-up on EVs with the announcement of a $10.6 billion investment, and more.
Need to Know
This week, Japanese automaker Mazda unveiled a $10.6 billion spending plan to electrify its vehicles, aiming to increase its share of the EV market by up to 40% of its total global sales by 2030.
Mazda said it plans to take a multi-solution approach to the challenge, starting with a new hybrid system to be deployed alongside battery EVs. To do this, the company is working with seven partners, such as electric-component maker Rohm, to develop and produce electric drive units jointly.
The investment follows similar announcements to that of its fellow Japanese players Toyota and Honda, which have both been slow to electrification. Mazda is adding to an ever-saturated EV race — it’ll be interesting to watch how they (and their domestic peers) plan to compete in the new frontier.
In Other News
🏛 Regulatory. Despite their widespread popularity, Paris is considering a ban on rental electric scooters, citing sidewalk congestion and sustainability. The Netherlands earmarked a €4 billion investment for public transport infrastructure.
🚘 Passenger Vehicles. Drako Motors, a California-based startup, unveiled its upcoming 2,000 HP all-electric Dragon super SUV. Club Car unveiled its high-end electric golf cart.
🚚 Trucks & Buses. Renault Trucks unveiled the design of its electric T and C models.
🛞 Mobility Tech. EVR Motors, an Israel-based startup, partnered with EKA Mobility, an India-based EV company, to design small, lightweight electric motors for their e-buses and light commercial vehicles in India.
⚡ Mobility Ecosystem. Volvo and Pilot Company, North America's biggest travel center operator, entered a partnership to build a nationwide public charging network to support electric trucks. Aptera said it would use Tesla’s charge connector standard in its upcoming solar electric car. Hyundai and SK On are investing $1.9 billion to build a new EV battery plant in Georgia. LG Chem announced that it signed an agreement with Tennessee to build a $3 billion cathode factory for EVs in the state.
📍Go to Market. Waymo received approval from the California Public Utilities Commission to provide San Francisco residents with its robotaxi service. Baidu and Pony.ai received the green light from Beijing to test their autonomous vehicles with no one in the front row. Buick plans to introduce its first EV in China later this year, developed on GM’s Ultium platform. VinFast, a Vietnam-based EV maker, shipped its first batch of vehicles to the United States.
💼 Business. Volkswagen partnered with MILES Mobility, a car-sharing company, as it continues its transition to a mobility provider. BYD partnered with Auto Nejma to bring its EVs to Morocco. GM’s president said they would avoid “opportunistic” EV pricing. Geely and ElectroMobility Poland signed an agreement to license the pure electric SEA architecture for the Izera brand. Mercedes-Benz released a $1200 annual subscription to unlock improved acceleration in its EVs.
💰 Investments. Zapp Electric Vehicles, a UK-based electric motorbike maker, is going publicly via SPAC at a post-money valuation of $573 million. Stellantis announced that it is acquiring aiMotive, a self-driving technology company, to support its autonomous future.
Interesting Reads
EV sales in Canada are up by a third in 2022, though the country still lags behind the rest of the world in adoption.
GM’s CEO outlined the company’s plan to ramp up efforts in China at their GM Tech Day event in Shanghai.
An article exploring the boom in the electrification of two-wheel vehicles.