Kelly Kimball

Tesla's Supercharger Network is in Jeopardy After Surprise Team Axing. In a move that has the EV world buzzing, Tesla CEO Elon Musk recently laid off the entire Supercharger team - despite the profitable network being a key selling point for the company's electric cars. 🔋 The Supercharger division, once tasked with ambitious expansion goals, had around 500 employees responsible for building and maintaining Tesla's over 50,000 charging stalls worldwide. But in April, they were all suddenly let go. According to an ex-employee: "We built the best network in the world. We were minding the ship. Nothing was frivolous." (see: https://lnkd.in/ddgJF39P ) Yet it wasn't enough as Musk went for deep cuts with a "chainsaw" approach amid slowing sales growth and price wars denting profits. The Supercharger network's widespread, reliable and high-speed charging was instrumental in overcoming "range anxiety" for EV buyers. But now: ✅ Dozens of new Supercharger sites are stuck in limbo or may not open at all ✅ An advanced V4 hardware rollout appears stalled ✅ Tesla may struggle to win federal funding for charging expansion While Musk pledged $500M for Supercharger growth, hitting that goal sans a dedicated team will be extremely difficult according to insiders. The layoffs are even more puzzling given the profitability of the network and its future money-making potential by opening to other EVs. All major automakers have now adopted Tesla's charging standard (see my previous posts about it here: https://lnkd.in/dFRE4B3D ) With the Supercharger brain trust gone, can Tesla maintain its crown jewel charging advantage? Or will the network's perceived dominance slowly erode? The company's strategic path for its "linchpin" project is now surrounded by question marks. What are your thoughts on this surprise move? Do you think "Superchargers on wheels" like my https://lnkd.in/de27ZaQ could come to the rescue in areas with new EV offers? Share your insights in the comments! #tesla #polestar #nacs #supercharger #abb

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Registrations of Tesla vehicles in California fell about 8% in the first quarter of 2024 for the second consecutive three-month period, according to data from the California New Car Dealers Association. The data showed about 50,000 new Tesla vehicles were registered in the state, one of the most important markets for the Elon Musk-led EV maker, in the quarter ended March 31. Globally, Tesla's quarterly deliveries fell for the first time in nearly four years as price cuts and incentives proved insufficient in drumming up demand. Still, the company's Model Y crossover was the best selling new vehicle in California, the report said. It added that the Model 3 compact sedan and Model X premium SUV were among the top three best-selling battery electric and plug-in hybrid vehicles. Read more on Reuters: https://lnkd.in/d9yB8rre

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KEY TAKEAWAYS 1. Polestar & StoreDot fast-charged a prototype to 80% in 10 min, a breakthrough in EV charging technology. 2. StoreDot emerging #XFC tech, silicon-dominant cells, and consistent charging rates show promise for future #EVs. 3. Rapid charging means vehicles could gain 200 miles in 10 minutes, closing gaps with gas cars and reducing charging inconveniences.

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Interesting interview with Shawn Fain about the organizing campaign at Volkswagen. Based on Volkswagen’s neutral perspective I was sure the union would have won the last two attempts. This one is going to be interesting to watch. It’s in the hands of the team members. Be careful what you wish for because you just might get it. https:// https://lnkd.in/eimDttW4

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The twists and turns on the road to #EVs are something I follow. No bigger story this year encapsulates just how both fierce and high-tech driving the roads are now. Rivian is due to receive a much-needed cash infusion of $3 billion from Volkswagen. Still, even more importantly, they will create a JV (joint venture) with another $2B in it for Rivian to develop technology for SDVs (software-designed vehicles). Keep in mind that over half the price of most new cars is from the dozens and dozens of chips and software modern cars run on. This JV seeks to save Volkswagen money on this front and is likely to cause further problems for Tesla, long the king of SDVs, who is already facing competition from other angels for market share from China's BYD. -GSP- #4thindustrialrevolution #economics #autoindustry

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The transition to an all-electric future is a one-way street. As well it should be -- long-range EVs are now more affordable than the average gas-powered vehicle

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The Wall Street Journal & Christopher Mims are out with a telling tale of how far off #evs are. In short 5-10 years IF the #batterytechnology stays on current development times, if the charging infrastructure can even keep these juiced up if theses schedules hold. Most ironically this extends the replacement cycle on combustion engines. What do you think? #management #venturecapital #privateequit #ev #electricvehicles

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While this is a needed change, it points to a larger issue that's only going to grow with more EV sales. Too many people are leveraging public chargers as their everyday charging station, unfortunately this is not the ideal way to charge. Much like our phones, EVs are better suited for charging at home or work. What the world truely needs isn't more public stations, but more private chargers where vehicles are parked 4+ hours. This is why what Pando Electric is doing is so important. We drive down the costs of EV charging at home and allow for 10x the number of stations at any location.

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Rivian shareholders will seek details on the company's upcoming models and progress in cutting costs at an investor day event on Thursday, two days after the US electric vehicle maker announced a $5 billion investment from Volkswagen. The JV, which will give VW access to Rivian's electrical architecture and software, is a "vote of confidence", opens new tab in the American automaker's prospects as it looks to produce and sell less expensive R2 and R3 crossovers to compete with Tesla's $TSLA bestselling Model Y SUV. Amazon.com-backed Rivian still lost about $39,000 per vehicle sold in the first quarter, but analysts expect the company to post its first quarterly gross profit in the fourth quarter. Rivian halted production for three weeks in April to implement cost-saving measures. Reuters reported last week the company has retooled its manufacturing process, resulting in a 35% reduction in the cost of materials for vans and savings of "similar magnitude" for its other lines. "Rivian will be sharing more about the R2 and R3 models, as well as details on the deal with Volkswagen," said Michael Shlisky, analyst at D.A. Davidson. "I am sure financial details will be discussed, but they may wait until next week to share Q2 sales figures and guidance updates." #rivian #investorday #production #tesla Read more on Reuters - https://lnkd.in/g7fx9YFu

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🌱 Toyota Accelerates Climate and Frontier Tech Innovation with $300 Million Investment 🚀 💰Toyota Motor Corp. has announced a significant investment of $300 million into its venture arm. This injection of capital aims to support early-stage startups dedicated to addressing pressing global challenges in areas such as carbon capture, artificial intelligence (AI), and space commercialization. With this initiative, Toyota Ventures is expanding its total assets under management to over $800 million, signaling a robust commitment to driving impactful change.🌪 🔊 Toyota Ventures general partner, Jim Adler, underscores the importance of embracing risk and seizing transformative opportunities in today's rapidly evolving landscape. "If you don’t pursue risky opportunities, you’re going to miss out on what’s going on in the world," emphasizes Adler, highlighting the necessity for forward-thinking investments to stay ahead of the curve. 🥇The success of Toyota Ventures' previous ventures, notably its early investment in electrical vertical takeoff and landing company Joby Aviation Inc., underscores the firm's dedication to supporting disruptive technologies. By providing access to groundbreaking startups, Toyota Ventures aims to remain at the forefront of innovation. Adler affirms, "We’re providing access to the most disruptive companies," emphasizing the strategic value of nurturing early-stage ventures.🚀 📝The newly allocated $300 million will be strategically distributed across two key areas: 1- Toyota Ventures will allocate funds to its second climate fund, which focuses on supporting startups committed to environmental sustainability. Among its portfolio companies is hydrogen startup Ecolectro, Inc. Inc., exemplifying the diverse range of innovative solutions supported by Toyota Ventures. 2- A portion of the investment will fuel Toyota Ventures' second deep technology fund, which prioritizes science-heavy startups. Notable investments include satellite servicing operator Starfish Space Inc. and quantum computing software startup Haiqu, reflecting Toyota's commitment to advancing frontier technologies. 📉 Despite a broader downturn in venture activities globally, Toyota Ventures remains steadfast in its commitment to fostering innovation. While other companies have scaled back or shuttered their venture arms, Toyota continues to champion transformative ventures. Adler acknowledges the challenges inherent in corporate investing, emphasizing the need for flexibility and long-term vision. ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #ClimateTech #FrontierTech #VentureCapital #Innovation #CorporateVenture #StartupInvestment 🌍💡

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I wrote nearly a decade ago that to win with EVs the OEMs needed to build an ecosystem. It’s good these companies are finally taking EVs seriously, but if they want to catch and overtake Tesla public charging is only half the equation. To truly win this market these companies need to focus on solutions for EV charging at home.

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The big news to come out of Tesla's earning call yesterday: The #EV maker will start production on new models early next year, rather than the second half of 2025 as previously stated. Read more in my latest for Automotive Dive:

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When Tesla laid off the entire team working on its Superchargers, some took it as a bad omen for the charging industry overall. Why would Tesla, which arguably dominated the EV-charging landscape and built nearly 6,000 Supercharging stations around the world in 2023 alone, pull the plug on this part of its business? Especially in an election year when Republicans are attacking electric vehicles, the team’s disintegration could be seen as a sign that the EV revolution isn’t really working. “But that’s not the reality of it,” says Hooman Shahidi, cofounder and CEO of EVPassport. For Fast Company, I explored how this news is actually a chance to rethink EV charging—both what it looks like and our behavior around it. It's a chance to get away from the gas station mindset that Superchargers keep drivers in, to focus on Level 1 and Level 2 chargers, and to open room for more competition and innovation. What are your thoughts on this moment for the EV charging landscape?

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Overview of the German EV Market Germany has long been a frontrunner in the global automotive industry, renowned for its engineering prowess and innovation. However, recent trends indicate a significant downturn in the sales of electric vehicles (EVs) within the country. This article explores the myriad factors contributing to this decline, the implications for the automotive industry, and potential solutions to revive the market. https://lnkd.in/gigmDE_t

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California is charging forward with its electrification efforts, but even with one of the most advanced and equipped grids, it’s still not prepared. A new study found that California will need to spend somewhere between $6 and $20 billion to improve the grid — a big and varied estimate. Nonetheless, it points to the amount of work that needs to be done. By 2035: about half of the feeders will be overloaded. Unsurprisingly, there’s some discrepancy. Locations with heavy home charging will experience more pressure, but business districts will experience less. Investing to upgrade electric grids is non-negotiable. But there’s more we can do. That includes selling energy back to the grid, encouraging and incentivizing EV owners to charge during off-peak times and to build up public charging infrastructure. That’s something ParkMyFleet is dedicated to working towards. For mass adoption to take hold, we have to ensure that fleets have ample and convenient places to charge and that we can work in tandem with the grid’s capabilities. #electricgrid #EVs #electricvehicles #EVgrid #electricvehiclegrid #california #californiaEVs #californiagrid https://lnkd.in/edhqDwMY

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Have you been to a futures expo before? I just attended the https://lnkd.in/gWtMNNAr in California. Super cool chance to see first hand where the #EV #electricbikes #AI toys and cars are heading (or are already here). We saw delivery robots navigate city streets, skateboards follow their owners until they were ready to ride again, bikes for limited mobility customers and future homes with less space demands on lands and more conveniences…plus some super cool cars (car racing in a Tesla anyone?) Some pictures to follow, but my takeaways connected to my experiences and expertise in learning and education lean into this thoughts. ⏳Future thinking and leading founded in #values is needed at an increasingly important level. AI is advancing, are we preparing for this? ⚖️ There needs to be a balance in investment in people and technologies 💡Learning where industry is going is strengthened when we listen to learn versus listen and offer responses that are rooted in learning systems that were developed decades ago Here’s to leaning in to #industry needs with #learning solutions to advance peoples abilities that align with our #future and #values.

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General Motors has announced it will be scrapping Cruise self-driving car due to "regulatory issues". Read the full article below. #electricvehicles #mobility #evcharging #smartcities #evbatteries #sustainabletransport #electriccars #electrification #charginginfrastructure #autonomousvehicles #microgrids #fleets #cruise #generalmotors #sanfrancisco

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Residual values of electric vehicles (EVs) are declining, which poses a significant challenge for EV adoption. This decline in residual values makes leasing EVs more expensive for automakers and consumers. The resale values of electric cars are generally much lower than those of their internal combustion engine counterparts, primarily due to rapid technological advancements, market dynamics, and higher initial purchase prices that do not translate well into the used car market. AutoTrader: A study from iSeeCars.com found that EVs have the worst resale value among all propulsion types, with an average loss of nearly 50% of their value in five years, compared to around 39% for all vehicles in the survey. https://lnkd.in/ghZ-9iZX Drive.com.au: A UK study found that electric cars, on average, lose 51% of their purchase value in three years, compared to 37% for petrol-powered vehicles. https://lnkd.in/gkMafdTm CNBC: A study from iSeeCars.com showed that the average price of a 1- to 5-year-old used EV in the U.S. fell 31.8% over the past 12 months, compared to just 3.6% for internal combustion engine (ICE) vehicles. https://lnkd.in/gn79AYmH Forbes: Tesla models experienced significant depreciation between 2023 and 2024, with resale values dropping by an average of 31.5-34.4%, depending on the model. https://lnkd.in/g_K6XPqV Ayvens: Electric cars tend to depreciate more than ICE vehicles due to rapid technological advancements. https://lnkd.in/g4nrmT2x Natural Resources Defense Council (NRDC): While EVs can be cheaper to operate over their lifetime due to lower fuel and maintenance costs, they still suffer from higher depreciation rates compared to ICE vehicles. This is partly due to the rapid pace of technological advancements in the EV sector https://lnkd.in/gbeUzDci CarParts.com: EVs generally lose their resale value faster than gas-powered cars. Early battery and plug-in hybrid EVs with shorter driving ranges depreciated more quickly than gas or hybrid cars https://lnkd.in/gKxGPhWm The rapid technological advancements, aggressive pricing strategies by market leaders like Tesla, and higher initial purchase prices that do not translate well into the used car market are primary factors contributing to this trend. #evresalevalues #evdepreciation #electriccardepreciation #evvsicecars #evadoption #residualvalues #leasingcosts #teslaseffect #evadoptionrate

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For the next <24 hours only, I've reduced the price of the lifetime subscription I just launched for EV Universe Pro. Perks the members get: EVU Pro Report — an extra weekly EV industry newsletter, covering a lot more new models (even those in China), spy shots, global news from the Battery industry, Charging deployments, plans and partnerships, funding rounds and acquisitions, and much more. Community — discussions with over 100 like-minded EV geeks on a standalone platform. We’re about to launch a member-only chatroom too, so we can break and discuss the biggest EV news live; Tools — full access to our resources like the EV Stock Tracker, Industry Map, EV calendar, EV sales tracker; etc Early access — I often send new resources and deep dives to Pro members ahead of time; EVolving ecosystem — we're adding new features along the way. You’re making a difference — this helps me focus on EV Universe full-time, so you're directly helping me make an impact on EV adoption globally. 🌳 We'll plant 30 real trees into our forest, trackable online. with your name on it. We’re closing in on 1,000 trees planted! The price is reduced to $299 for everything we do in the EV Universe Pro, forever, with no other fees. It will be raised to a regular $365 tomorrow. Join over 100 of us that are serious about EV adoption: https://lnkd.in/d4maaufa

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