Automotive industry briefing
The latest news and stories you need to know about
News in numbers
GM is targeting annual global EV sales of 1 million by 2025
With its latest investment in Swedish battery company Northvolt AB, Volkswagen's stake in the company is at about 20%.
The automotive sector is now one of the best performers in the world economy, with sectoral activity above pre-pandemic levels in the first quarter of 2021, according to GlobalData. In Q1 2021, activity levels in the sector were 23.8% higher than they were at the end of 2019.
Kia aims to have sold more than 100,000 EVs to Uber drivers in Europe by 2025, around 50% of which are expected to operate in just seven European capital cities, including Amsterdam, Berlin, Brussels, Lisbon, London, Madrid and Paris.
Volkswagen is aiming to commission a total of six gigafactories in Europe by 2030 to support its battery electric vehicle production ambitions.
Mercedes reveals flagship EQS for its EV range
Mercedes-Benz has revealed the EQS, the first all-electric saloon on the EQ brand. It is described as a flagship luxury saloon for its EQ-dedicated EV range. The model will launch in the UK with a 333hp electric motor, paired with a 107.8kWh battery, which Mercedes says is expected to allow a range of up to 478 miles (770 km) on the WLTP cycle. Mercedes says this marks the launch of a new generation of its batteries with significantly higher energy density.
BMW iX on track for November launch
BMW says its flagship electric SUV – the BMW iX – is ready for series production and is on track for market launch from November 2021. The iX is described by BMW as a technology flagship that is based on a new toolkit for the future, with ‘vast potential for innovations in the areas of automated driving, operation, connectivity and digital services’ which translates into a ‘premium mobility experience unparalleled in this segment’. The BMW iX will be produced at BMW Group Plant Dingolfing.
Ford reveals 563bhp electric F-150
Ford has revealed the all-electric variant of its best selling pickup model – the F-150. The model will be built at a new high-tech facility at Ford’s Rouge Complex in Dearborn, Michigan and Ford says it plans market launch in the spring of 2022. The electric F-150 will be called the ‘F-150 Lightning’ and will come with an electric powertrain – dual in-board motors – delivering up to 563 horsepower and 775 lb.-ft. of torque – the most torque of any F-150 ever.
Ford has invested $750 million and added approximately 2,700 direct jobs at the Michigan Assembly Plant to build the sixth-generation Bronco. Production of the new 2021 Ford Bronco is underway at the Michigan Assembly Plant; the two-door and first ever four-door models are now on their way to Ford dealerships across the US.