Fisker, a popular American EV startup, recently filed for bankruptcy due to a lack of new investments needed to resume production of its Ocean electric crossover. This marks the second time that Fisker has faced financial difficulties, raising concerns about its future in the EV market. The company’s “asset-light” approach, which involved contract manufacturing, may have contributed to its financial challenges.
On another note, Volvo has decided to discontinue its highest-mileage plug-in hybrid, the S60 Recharge, after the 2025 model year. This decision comes as Volvo shifts away from gasoline models at its South Carolina plant, where the S60 is currently manufactured. The fate of the V60 wagon variants remains uncertain, leaving Volvo enthusiasts wondering about the brand’s future lineup.
In exciting news, Kia is exploring the possibility of producing its upcoming Kia EV3 electric SUV in Mexico. This strategic move could potentially lower the vehicle’s price to around $30,000 and make it eligible for EV tax credits in the U.S. While nothing has been confirmed yet, this development signals Kia’s commitment to expanding its EV offerings and making them more accessible to a wider audience.
Interestingly, a recent report revealed that Americans drive their EVs significantly fewer miles compared to gasoline models, a trend not observed in other parts of the world. This raises questions about the factors influencing EV usage patterns in the U.S. and highlights the need for further research and initiatives to promote EV adoption and usage across the country.
Overall, the EV industry continues to evolve rapidly, with companies like Fisker, Volvo, and Kia making strategic decisions to stay competitive and meet the changing demands of consumers. As the market landscape shifts, it will be crucial for automakers to adapt and innovate to remain relevant in the ever-growing electric vehicle market.
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