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Self-Charging Car: Key Findings - May 21, 2025

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TechnologyElectric Vehicles

Mitsubishi Shifts EV Strategy, Partners with Foxconn

May 21, 2025

Overview

  • Mitsubishi opts to work with Foxconn on EV development, canceling its Ampere investment agreement and signaling economic strain within the Renault-Nissan-Mitsubishi Alliance.
  • Avantium NV partners with Bottle Collective to develop Dry Molded Fiber bottles using its plant-based polymer PEF, enhancing sustainability and performance.
  • Waymo LLC reaches 10 million paid robotaxi trips, doubling in the past five months, and expands its autonomous ride-hailing service to San Jose.
  • Mercedes-Benz Group AG showcases a new CLA model with 10-minute charging capability and announces a EUR5 billion stock buyback plan.
  • Sono Motors GmbH reports first revenues following a financial turnaround, decreases cash used in operating activities, and commences its first Bus OEM factory partnership.
  • BMW introduces a new i7 prototype with a solid state battery pack and approves a third share buyback programme of up to EUR2 billion.
  • Alphabet Inc. launches Google AI Ultra, a new high-end AI subscription service, and announces a strategic partnership with Warby Parker for AI-powered glasses.
  • Amazon.com Inc. expands its footprint in Davenport with a new last-mile delivery station, expected to create over 100 jobs.

Renault-Nissan-Mitsubishi Alliance

The Renault-Nissan-Mitsubishi Alliance is showing signs of economic strain as Mitsubishi chooses to collaborate with Foxconn on electric vehicle development, rather than working with its traditional alliance partners. Mitsubishi's cancellation of its Ampere investment agreement further illustrates the financial pressures within the alliance.

Avantium NV (AVTX)

Avantium NV has announced a partnership with the Bottle Collective to accelerate the development of Dry Molded Fiber (DMF) bottles using its plant-based polymer PEF. This collaboration aims to enhance sustainability and performance, with PEF offering superior barrier properties and mechanical strength. Avantium highlights PEF's 100% plant-based, fully recyclable nature, supporting a circular economy. Director of Business Development Bineke Posthumus emphasizes the potential of PEF in collaboration with global brands like Opella, Diageo, and Haleon.

Nissan Motor Co. Ltd. (7201)

Nissan faces significant economic implications from the closure of its Oppama and Shonan plants in Japan, impacting local communities and the company's EV production capabilities.

Waymo LLC

Waymo LLC (GOOGL) has reached 10 million paid robotaxi trips, doubling in just five months. Co-CEO Tekedra Mawakana announced at Google I/O that Waymo has received approval to expand its autonomous ride-hailing service to more of the San Francisco Bay Area, including San Jose. Despite a 9% year-over-year drop in revenue and increased operating losses in Q1 2025, Waymo is focused on building a sustainable, profitable business model.

Mercedes-Benz Group AG (MBG)

Mercedes-Benz has unveiled a new CLA model featuring 10-minute charging capability, adding 325 kilometers of range with 800-volt systems. The company also announced a EUR5 billion stock buyback plan, potentially reducing its stake in Daimler Truck Holding to fund the buyback.

Sono Motors GmbH

Sono Group N.V. reported a net income of EUR8.8 million for Q1 2025, driven by non-cash fair value adjustments to convertible debt instruments. The company recorded its first revenues after a financial turnaround and decreased cash used in operating activities to EUR2.2 million. Sono Motors commenced its first Bus OEM factory partnership and began collaborating with Ford under the EU-funded SolarMoves project to test Vehicle Integrated Photovoltaics (VIPV) on a Ford E-Transit. The company is intensifying its focus on OEM collaborations and industrial partnerships.

Volkswagen AG (VOW)

Volkswagen has reduced its headcount in Germany by around 7,000 since late 2023, aiming for annual cost savings of up to EUR15 billion.

Ferrari N.V. (RACE)

Ferrari's hybrid strategy focuses on fewer cars per employee but higher revenue per unit, emphasizing premium, high-performance vehicles. The in-house design center has fostered closer collaboration between designers and engineers, leading to more integrated and technically advanced vehicles.

Volvo AB (VOLV.B)

Volvo AB introduces the new FH Aero Electric long-distance truck, offering up to 600 kilometers of range and fast-charging capabilities, set to transform long-haul transport.

Toyota Motor Corp. (7203)

Toyota is nearing acceptance of a buyout offer from chairman Akio Toyoda, with a potential $41 billion takeover bid expected soon. The company continues its 'multi-pathway' electrification strategy, including hybrids and alternative powertrains, and unveiled the latest RAV4 with the new Arene software platform. Toyota's hybrid models now account for over half of Toyota and Lexus volume in the US for Q1 2025.

Bayerische Motoren Werke AG (BMW)

BMW has introduced a new i7 prototype with a solid state battery pack developed with Solid Power, to be tested around Munich. BMW Korea, Kia, and Hyundai will recall over 16,000 vehicles due to manufacturing defects. BMW's board approved a third share buyback programme of up to EUR2 billion, and the company has increased its market share in New Zealand and reclaimed the top premium segment position.

Amazon.com Inc. (AMZN)

Amazon is expanding in Davenport with a new 114,000 square-foot last-mile delivery station, creating over 100 jobs, and has intensified efforts to combat cargo theft after a major organized crime ring was charged.

Alphabet Inc. (GOOGL)

Alphabet launched Google AI Ultra, a high-end AI subscription service at $249.99/month, and announced a $150 million partnership with Warby Parker to develop AI-powered glasses for Android XR. Alphabet is also facing two major antitrust lawsuits that could lead to a breakup.