Almost every automaker around the world is rushing to bring in new, battery-powered models to replace their aging range of gas-powered cars. Volvo has the EX90 as its new flagship SUV, Fiat is bringing the 500 back to America as an electric city car and Ford is planning a whole fleet of new EVs to hit our streets in the coming years.
With its F-150 Lightning, Mustang Mach E and E Transit models, Ford previously rose to the lofty height of being America’s second-best-selling EV manufacturer, behind Tesla. However, as GM expanded its own lineup of EVs, the Blue Oval dropped to third.
To try and take the fight back to Tesla and General Motors, Ford has a fleet of new EVs up its sleeves. First, there’s set to be a new Explorer that’s being developed by Ford and VW for Europe. Ford is also followed everywhere it goes by rumors of an electric Bronco and even an electric Fiesta.
2nd Gear: The Most Stolen Cars In America
We’ve all heard the drama about Hyundai and Kia models that were too easy to steal, it’s left the companies caught up in court while they try to settle with motorists that had their models stolen. But while there was a spate of thefts for the Korean automakers when people realized they didn’t have immobilizers installed, they aren’t actually the most stolen car in America.
The report ranked models on the number of thefts per 1,000 models out on the road, with the standings being topped by the Dodge Charger SRT Hellcat. The site reports:
Surprisingly, despite all the bad press Kia and Hyundai cars have received in recent months, only the Kia Sportage made the top 10, with the 4WD model placing 8th and the standard Sportage was 6th.
According to the report, the two least stolen cars in America are the Tesla Model 3 4WD and the Tesla Model Y 4WD.
3rd Gear: DOJ Investigates Tesla
And speaking of Tesla, the electric car company is under investigation yet again, but this time it’s not to do with its controversial Autopilot driver assist system. Instead, the company is facing an inquiry from the U.S. Department of Justice and the Securities and Exchange Commission over its spending habits.
According to a report from the Wall Street Journal, Tesla is under investigation on a project that was “described internally as a house for Chief Executive Elon Musk.” The project has now caught the attention of the SEC, DOJ and the U.S. Attorney’s Office for the Southern District of New York, which is asking Tesla for information about personal benefits it paid to Musk and how much Tesla spent on the glass house project. The WSJ reports:
In its various design stages, the glass house reportedly took “the shape of a twisted hexagon.” The WSJ says that at a later date, it also appeared to look like a massive glass box that included a residential area.
The project even sparked concern from Tesla insiders, with lawyers and board members scrutinizing the project and the millions the company had spent on glass for it. The WSJ reports that the “status of the project and whether the glass was ever delivered to Tesla couldn’t be learned.”
4th Gear: Polestar Narrows Losses
It’s a tough time to be a fledgling car company, as EV makers are springing up left, right, and center and fighting for our attention. One bright star in the mess is Polestar, which just posted its latest financial results and they aren’t as negative as it feared.
According to Reuters, the company’s second-quarter losses narrowed slightly as it struggled through the kinds of supply chain issues that remain prevalent across the industry following the Covid-19 pandemic and Russia’s invasion of Ukraine. Reuters reports:
That target of 60,000 to 70,000 cars sold by the company this year is actually down on its earlier prediction, which called for sales of up to 80,000 models this year. Polestar has been forced to temper its expectations while it competes against startups from China, such as BYD, as well as established automakers moving into the EV space, such as Ford, Stellantis, and GM.
