This week, we have news on Tesla in Germany, Ola in India, Genesis in Alabama, and Hyundai's pricing announcement: Our Top EV News for the week of Feb 23, 2023.
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50% Increase
Tesla's latest move in Germany is aimed at boosting the number of Supercharger stations in the country, which currently holds the title of Tesla's largest market in Europe. The company plans to install 84 new stations, which is a 50% increase from the current number of charging stations available to local EV owners.
These new stations will be located in major cities and along highways, with the majority of them expected to open no later than Q1 2024. Additionally, the Giga Berlin facility's Supercharger station will be made available to the public as it was only previously available to the employees at Tesla.
World’s Largest
India's Ola Electric Mobility Pvt. has unveiled plans to build the world's largest electric vehicle hub, investing a mammoth sum of $920 million to establish a localized supply chain, propelling cleaner transportation. The sprawling 2,000-acre facility in Tamil Nadu will be utilized to manufacture two-wheelers, cars, and battery cells, and will also house a vendor and supplier park, as per a recent statement from Ola. The Indian startup will commence the mass production of cells from the hub later this year, indicating its determination to remain ahead of the curve in the electric vehicle space.
Last year, Ola introduced its first lithium-ion cell, which was developed at its battery innovation center in Bengaluru via a $500 million investment. Ola will focus on developing a local supply chain for materials and components like motors, rare-earth magnets, semiconductors, lithium processing, and electrode production from minerals such as graphite and nickel over the next ten years.
Made in America
The Hyundai plant in Montgomery, Alabama made waves in the automotive industry by revealing its first-ever electric vehicle at a ceremony held earlier this week. This groundbreaking event not only showcased the Genesis Electrified GV70 SUV, but also marked the first time a Genesis model was produced outside of South Korea. With public officials and news crews in attendance, the atmosphere was charged with excitement and anticipation as the vehicle's lithium-ion battery was installed, adding to the electrifying nature of the occasion.
The ceremony has been a long time coming. It followed Hyundai's announcement from 10 months ago, which highlighted a $300 million investment and the creation of 200 jobs to build the Electrified GV70 SUV and a hybrid version of the Santa Fe at the Montgomery plant.
HMMA President and CEO Ernie Kim expressed the company's commitment to future mobility solutions propelled by batteries or hydrogen fuel cells. The CEO noted that the company is evolving to support this strategic direction and will continue to drive economic prosperity in Montgomery, Alabama, and the surrounding communities. Genesis has also committed to producing only electric models starting in 2025, with plans for its entire lineup to be electric by 2030.
Prices Released
In other Hyundai news, Hyundai has announced pricing and packaging for the IONIQ 6 electric vehicle. The car will have two battery pack options and two motor layouts, with most trim levels becoming available this spring. Check here for pricing.
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