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Technicians work in the final inspection line of German carmaker Volkswagen’s electric ID. 3 car in Dresden, Germany, June 8, 2021.
Matthias Rietschel | Reuters

Half of Volkswagen’s sales are expected to be battery-electric vehicles by 2030, the German carmaker said Tuesday.

By 2040, the company said almost 100% of its new vehicles in major markets should be zero-emission vehicles.

Those objectives are part of Volkswagen‘s wider aim to be fully carbon neutral by 2050.

The firm said it would work on developing software to help boost profits as it focused on transitioning its vehicles from internal combustion engines to operating on batteries.

Volkswagen has earmarked 73 billion euros ($86.4 billion) for the development of future technologies between 2021 and 2025, which makes up 50% of the company’s total investments.

It also announced it was developing three software platforms, with an aim to develop one software platform that can be used across all Volkswagen Group cars by 2025. Developers of the technology said on Tuesday that software could become a major source of income for the autos industry by 2030, with up to 40 million vehicles expected to be operating on the Group’s software platforms within the next decade.  

Volkswagen’s software company CARIAD is currently developing software platforms which will offer various features such as a unified infotainment system and the ability to hand steering controls over to the car.

In a further bid to boost its electric vehicle offering, Volkswagen announced it would establish a “controlled battery supply chain,” introducing one unified battery format and opening six giga factories across Europe by 2030.

The first factory in Skellefteå, Sweden, will be operated by Northvolt, and is expected to begin production in 2023.

In partnership with Chinese cell specialist Gotion High-Tech, Volkswagen will open a second giga factory in Salzgitter, Germany, with a view to begin production in 2025.

Volkswagen’s announcements on Tuesday came as part of its 2030 strategy, which comes ahead of a swathe of environmental policies expected to be announced on Wednesday by the European Union.

The carmaker has already begun to roll out fully-electric vehicles. In 2019, the company’s fully-electric ID.3 model sold out in the car’s presale.

Carmakers all over the world are racing to transition to electrification.

Stellantis — the product of a merger between Fiat Chrysler and France’s PSA Groupe — announced last week that it plans to invest at least 30 billion euros in electric vehicles and supporting technologies like software through 2025.

French carmaker Renault said in June that it had signed two new partnerships to develop a Gigafactory in northern France. Meanwhile, Swedish automaker Volvo aims to offer only electric vehicles by 2030.

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Italy says that it’s illegal for Alfa Romeo to call its new EV the Milano

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Italy says that it’s illegal for Alfa Romeo to call its new EV the Milano

What’s an Alfa Romeo without a cool Italian-sounding name? The Stellantis-owned company is naming its first BEV after the famous city of Milan, but the Italian government is now playing hardball by saying that’s illegal since the car will be built in Poland. If it’s not made in Italy, it can’t sound Italian.

Alfa Romeo – the iconic Italian brand founded in 1910 – unveiled its first all-electric car this week, a small SUV dubbed the Milano. Stellantis has been at odds with the Italian government for months for what he says is its lack of support in EV adoption and not backing home-grown brands Fiat and Alfa Romeo, but the government says that moving production outside the country is a step way too far.

Italy’s industry minister Adolfo Urso, according to Automotive News Europe, slammed Stellantis for the decision to build the EV at the company’s Tychy plant in Poland – meaning the car will be the first Alfa Romeo to be entirely built outside of Italy. And if the electric vehicle isn’t built in Italy, it can’t carry an Italian-sounding name according to Italian law.

“A car called Milano cannot be produced in Poland. This is forbidden by Italian law,” Urso said, referring to 2003 law that prohibits any products being sold with Italian-sounding names that aren’t made in Italy. Yet somehow calling it the Tychy doesn’t have the same ring.

“This law stipulates that you cannot give indications that mislead consumers. So a car called Milano must be produced in Italy. Otherwise, it gives a misleading indication which is not allowed under Italian law,” he added, according to Automotive News Europe.

Urso is referring to a law that says it is illegal to falsely present a foreign-made product as coming from Italy, but has typically been invoked against food products, such as forbidding a US-made “Parmigiano Reggiano” cheese. France has similar laws protecting its products, such as prohibiting sparking wine be called “champagne” if it doesn’t come from the Champagne region of France.

The rationale for building the vehicle in Poland, according to Stellantis CEO Carlos Tavares, is that it will shave off €10,000 from its retail price.

While pricing has yet been released, the new EV is based on Stellantis’s e-CMP platform, which powers its Jeep Avenger. A 54 kWh battery pack will deliver up to 250 miles of range, and in an urban cycle, it can get up to 366 miles of range.

Italy, home to some of the oldest, most polluting cars in Europe, is working (finally) to change that, with the government weighing a plan to put €930 million ($1 billion) into some enticing financial incentives to nudge drivers toward electric cars. This includes an incentive topping €13,750 to allow Italian citizens with an annual income lower than €30,000 to replace old Euro 2 models (meeting emissions standards set back in 1997) for new electric cars. An EV made is Italy is even better, of course.

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IEA downgrades oil demand growth forecast as prices heat up on elevated Middle East tensions

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IEA downgrades oil demand growth forecast as prices heat up on elevated Middle East tensions

An oil pumpjack is shown near the Callon Petroleum vicinity on March 27, 2024 in Monahans, Texas. 

Brandon Bell | Getty Images

The International Energy Agency on Friday downgraded its forecast for 2024 oil demand growth, citing “exceptionally weak” OECD deliveries, a largely complete post-Covid-19 rebound and an expanding electric vehicle fleet.

In its latest monthly oil market report, the IEA said it had revised down its 2024 oil demand growth forecast by around 100,000 barrels per day (bpd) to 1.2 million bpd.

The global energy watchdog said that it expected the pace of expansion to decelerate even further to 1.1 million bpd next year “as the post-Covid 19 rebound has run its course.”

The IEA’s report comes amid a rebound in oil prices on elevated Middle East tensions, with energy market participants closely monitoring the prospect of supply disruptions from the oil-producing region.

Iran, which is a member of the Organization of the Petroleum Exporting Countries, has vowed to retaliate after it accused Israel of bombing its embassy in the Syrian capital of Damascus earlier this month.

The attack has ratcheted up tensions in a region already grappling with the ongoing Israel-Hamas war. Israel has not claimed responsibility for the attack.

International benchmark Brent crude futures with June delivery traded 0.8% higher at $90.45 per barrel on Friday at 9:30 a.m. in London, while U.S. West Texas Intermediate futures with May delivery rose nearly 1% to trade at $85.84 per barrel.

“We’re seeing the surge in [electric vehicle] sales, especially in China and also in Europe, really taking into gasoline demand, but also in the United States,” Toril Bosoni, head of oil industry and markets division at the IEA, told CNBC’s “Street Signs Europe” on Friday.

“There has been a lot of talk about sales not increasing as much as maybe was expected, but EV sales and increased fuel efficiencies in the car fleet is lowering gasoline demand, at least in advanced economies and particularly in China.”

Asked about some of the main concerns relating to oil supply security, Bosoni replied, “We are watching, obviously, the Middle East very closely. The continued tanker attacks in the Red Sea is of key concern, but also escalating tensions between Iran and Israel, and then we’re seeing tensions between Russia and Ukraine continue, with attacks on Russian refineries.”

“So, there are several tension points in the oil market today that we’re watching very closely that could have major impacts … if there would be any significant outages,” she added.

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Tesla unveils new Sport Seats to absorb Model S Plaid’s insane power

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Tesla unveils new Sport Seats to absorb Model S Plaid's insane power

Tesla has unveiled new Sport Seats for the Model S Plaid to absorb the electric supercar’s insane power better.

While it’s in the form of a family sedan, the Model S Plaid could easily pass as an electric supercar with its 1.99-second 0 to 60 mph acceleration.

That’s more power than anyone would need, but it is fun.

Some Model S Plaid owners even like to take the fun to the racetrack. When cornering, you can really feel the Gs on the racetrack.

Tesla’s Model S seats are comfortable, but they are not designed for super-spirited driving, which the rest of the vehicle enables.

Today, Tesla decided to address the issue with the release of new Sports Seats:

They obviously feature much more pronounced side support. Here are the main features of the seats:

  • Increased lateral support
  • Modular seat architecture for comfort & support, plus same 12-way power adjust, heating & ventilation
  • High performance suede for increased grip & reduced weight

Here’s another look at the new seats:

The seats are now standard for the $90,000 Model S Plaid and included on all cars built since the beginning of the month.

Electrek’s Take

We had known new sports seats were coming to the new Model 3 Performance, which is expected to be unveiled any day, but it makes sense that the Model S Plaid would get them first.

The vehicle’s level of performance deserves sports seats.

I am surprised that Tesla is making it standard rather than a paid option, but we’ll take it.

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