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Today at the Japan Mobility Show, we’re getting our first look at an electric car concept that employs Gogoro’s swappable batteries. Called the Project X, it’s an initiative from the MIH Consortium developed by Foxconn.

With over a million of them on the road and counting, Gogoro’s swappable batteries have become the de facto standard for electric scooters.

It seems that nearly every time I write an article about a new Gogoro scooter or the expansion of the company’s swappable battery network, comments flow in about how small electric cars should use a similar battery system.

And they’re absolutely right – tiny electric cars that have multiple swappable batteries small enough to lift by hand would be a great way to democratize EVs in cities, especially for apartment dwellers without access to convenient charging locations. Why hunt for a place to charge at street-level and wait around for hours when you could just swap the batteries out in seconds like an oversized power drill?

The new Project X concept looks to address that scenario by creating an electric microcar that is powered by the same Gogoro batteries used in hundreds of thousands of battery swaps for electric scooters each day.

The design includes two bays for Gogoro’s batteries to be inserted. Most electric scooters use either one or two Gogoro batteries, and so a heavier electric car certainly needs at least two batteries.

I’d guess that four is likely a more appropriate number, though the whole point of the swappable battery system is to make range figures irrelevant. Since a six-second battery swap replaces a several-hour charging stop, urban users can simply swap and go while they are on their way.

The vehicle is said to offer customizable levels of autonomous driving from Level 2 to Level 4, as well as an adaptable interior with either a 2- or 3-seater design. When configured for two passengers, there’s more space remaining in the rear for cargo.

Those that want to see the car in the flesh can check it out at the MIH booth at the Japan Mobility Show 2023, where it will be on display from now until November 5. 

gogoro battery swap

Electrek’s Take

Well, it’s about time! Gogoro’s batteries are an ideal swapping solution and I’ve had the pleasure of using them several times a week on my own electric scooter. Putting them in slightly larger vehicles to power electric microcars feels like a no-brainer to me. It makes such small electric cars even more attractive while giving cities even more reasons to install Gogoro’s swap stations.

The tech has already been proven in Taiwan, where thousands of stations dot the country. I haven’t seen it myself, but the density map below looks so hot in places that I’m guessing you can probably stand at one Gogoro swap station and see another one down the road. And keep in mind that the data from that map is a year and a half old, meaning there are even more stations deployed around the country today.

They’ve made it as easy as possible for people to switch to small electric vehicles like electric scooters, and the numbers speak for themselves with hundreds of thousands of battery swaps performed each day. As Gogoro’s batteries have expanded into other countries like India, China, Indonesia, The Philippines, South Korea, Israel, and others, we’re seeing firsthand how the system can meet the needs of riders (and perhaps soon drivers) around the world.

There’s of course no word yet on whether Project X will become a reality. But with Foxconn behind it, there’s a decent chance that this idea has wheels. The company is a leading manufacturer and already makes several electric vehicles as well as Gogoro’s batteries, so it sounds like a great match to me.

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Chevron sees no signs that U.S. is close to a recession, CEO says

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Chevron sees no signs that U.S. is close to a recession, CEO says

Chevron CEO Mike Wirth: No signs that we're in or close to a recession at this point

Chevron is not seeing signs that the U.S. is close to a recession even as President Donald Trump’s tariffs weigh on expectations for oil demand, CEO Mike Wirth said Tuesday.

“There’s no signs that we see at this point that we are in or close to a recession,” Wirth told CNBC’s “Squawk Box.” “There are signs that growth may be slowing and we have to always be prepared for that.”

The International Monetary Fund on Monday cut its growth outlook for the U.S. this year to 1.8%, down from 2.7% previously.

The oil market is expecting reduced demand as a consequence of Trump’s tariffs and the decision by OPEC+ increase production faster than expected, Wirth said. Chevron isn’t changing its capital spending plans in response to drop in prices, the CEO said.

U.S. crude oil prices have fallen about 11% since Trump announced his tariffs on April 2. West Texas Intermediate was last up about 72 cents at $63.80 per barrel. OPEC and the International Energy Agency have cut their demand outlooks for this year.

Wirth said U.S. onshore oil production in patches like the Permian Basin is likely to pull back if prices hit $60 per barrel. Offshore production likely won’t be affected, he said.

“That’s an area where if we were to be at a $60 price or even lower you’re likely to see activity pull back in this sector and you’ll see the production response over a few months,” Wirth said. “That’s what we should watch, not so much the deep water activity.”

Chevron is not expecting a major direct impact on its business from Trump’s tariffs as energy has largely been exempt from the levies, Wirth said.

“The effects that we feel are likely to be more the macroeconomic effects as they flow through the economy,” Wirth said. “The bigger issues would be what would it mean for growth, and global trade and how does that evolve.”

Executives at oil and gas companies were scathing in their criticism of Trump’s tariffs in an anonymous March survey by the Federal Reserve Bank of Dallas, warning that steel tariffs were raising their costs and low prices could impact their activity.

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Billionaire battle: Bezos’ $25K Slate EV breaks cover ahead of Tesla earnings call

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Billionaire battle: Bezos' K Slate EV breaks cover ahead of Tesla earnings call

Little is known about super-secretive EV startup Slate, but the fledgling brand is rumored to be backed by Jeff Bezos and determined to shake up the existing electric order with an affordable lineup of compact SUVs and pickups with that golden $25,000 price tag.

Now, at least, we know what it’s gonna look like. The battle of the billionaires is on!

Redditor jonjopop over at the spotted subreddit spotted what looks like an early prototype of an unbranded SUV with bizarre “CryShare” wrap. CryShare, as a concept, seems to combine the functionality of a ride sharing app like Uber or Lyft with the familiar (to parent, anyway) idea that small babies will often sleep better in a moving car than in their own cribs … but that’s not what’s important here.

Instead, focus on the vehicle itself – parked on Abbot Kinney Boulevard in Los Angeles without explanation or fanfare, this is our best look yet at the kind of vehicle(s) Slate is likely to reveal in the coming days.

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Stumbled upon the Bezosmobile [Slate Automotive…idk?] being revealed with an absolutely bizarre marketing campaign
byu/jonjopop inspotted

Other local automotive journalists caught wind of the public unveiling, too – and our friends at The Autopian (Hi, Matt!) sent their own David Tracy out on the streets of LA to check it out. Tracy took the following video and posted it to Instagram.

The Slate breaking cover and causing buzz just ahead of what’s sure to be a painful Q1 earnings call for Tesla is a masterstroke of marketing – especially as doubts surrounding the viability of a “less expensive” Tesla Model Y or Model 3 continue to mount amid the uncertainty of Trump’s tariffs and declining sales of the brand’s more profitable models both at home and abroad.

As with so much involving Slate, however, there is nothing here written in stone – or even cast in cheese. Nothing has been announced, nothing is promised, and for all we know this might have more to do with the affordable Rivian brand launch, a new BYD, or be a viral marketing bit from some local Art Center design student in (relatively) nearby Pasadena. In fact, about the only thing I think we can say about Bezos (?) new Slate project with confidence today is this: Elon could probably use that drink.

SOURCES | IMAGES: Reddit, The Autopian.


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Gold tops $3,500 an ounce as Trump attack on Fed shakes confidence in U.S.

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Gold tops ,500 an ounce as Trump attack on Fed shakes confidence in U.S.

Gold prices rebounded on Tuesday from a near four-week low reached in the previous session, as heightened concerns over the global trade war between the United States and its key trading partners lifted investor appetite for safe-haven assets.

Chris Ratcliffe | Bloomberg | Getty Images

Gold prices rallied Tuesday, hitting a record as President Donald Trump‘s repeated threats against the Federal Reserve’s independence have shaken investors and undermined confidence in the U.S.

Gold futures hit a session high of $3,509.90 per ounce Tuesday, after closing at a record $3,425.30 on Monday. The precious metal was last up 1.1% at $3,463.20. Gold has rallied about 31% since the start of the year and more than 9% since Trump announced sweeping tariffs on April 2.

Trump ratcheted up his public pressure campaign against Federal Reserve Chairman Jerome Powell on Monday, demanding he immediately lower interest rates and attacking him as a “major loser.” Equity markets sold off in response, with the Dow Jones Industrial Average falling more than 970 points.

Gold is viewed as a safe-haven asset in times of economic uncertainty. Central banks around the world have been adding to their gold reserves, supporting the precious metal’s rally this year.

“Gold has continued to serve as an effective hedge amid ongoing trade uncertainty,” analysts led by Mark Haefele, global wealth management chief Investment officer at UBS, told clients in a Tuesday note.

“Despite this strong performance, we see further upside potential,” Haefele said. “We continue to see support from investment demand, ongoing central bank diversification and a volatile macro backdrop.”

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