Connect with us

Published

on

The first all-electric Jeep will finally hit the US later this year. Jeep’s first EV, the Wagoneer S, will be available this fall. Here’s what we know so far.

Jeep’s first EV, the Wagoneer S, is coming this fall

Jeep is going on the EV offensive. The brand unveiled three electric models in 2022, which are now hitting the market.

The first, Jeep’s Avenger, was launched in Europe in early 2023. At just 4.08 meters long (13.4 ft), the Avenger is a compact SUV that offers over 550 km (341 miles) WLTP range in the city.

It beat out the Kia Niro, Nissan Ariya, Toyota bZ4X, and VW ID Buzz to win European Car of the Year 2023.

Now, Jeep is releasing its first EV in the US, the Wagoneer S. The “S” stands for speed, striking design, and style. Jeep says the Wagoneer S will offer standard 4xe capabilities with all-terrain management.

The Wagoneer S will include 600 horsepower. It will also be “lightning fast,” with a 0 to 60 mph time in about 3.5 seconds.

Jeep-first-EV-Wagoneer-S
Jeep Wagoneer S (Source: Stellantis)

Design upgrades are driven by aerodynamic efficiency. You can see Jeep’s class-exclusive seven-slot grille reimagined with illuminated LED lights.

Jeep aims for around 400 miles range, or enough to go from NYC to Toronto, on a single charge.

What’s next for Jeep?

Jeep will begin production of its first EV this year. The electric Wagoneer S will be sold in the US starting this fall. Jeep says it will then launch it in other key global markets.

After the Wagoneer, Jeep will launch the rugged Recon EV. Jeep’s Recon is inspired by the legendary Wrangler as a “rugged and capable electric SUV.” The Recon will include Wrangler-like features, including removable doors and windows.

Jeep-Recon-EV
The all-electric Jeep Recon (Source: Stellantis)

We got a sneak peek at the electric model after images of the 2024 Jeep Recon Moab 4xe leaked out of a dealer event.

With the “capability to cross the mighty Rubicon Trail,” according to Jim Morrison, Jeep’s North American boss, the rugged electric SUV is poised to carry Jeep’s off-road tradition into the all-electric future.

Jeep-Recon-EV
2024 electric Jeep Recon (Source: Stellantis)

Even better – Morrison claims you will be able to “reach the end of the trail with enough range to drive back to town and recharge.” The Jeep Recon EV will begin rolling out shortly after the Wagoneer S.

Jeep is also planning to launch an all-electric Wrangler. But that’s not due out in 2028. Ahead of it, Jeep is expected to introduce an electric version of its Grand Cherokee in 2027.

(Source: Jeep/ YouTube)

Electrek’s Take

As part of Stellantis’ Dare Forward 2030 strategy, the parent company aims for 50% of total US sales to be electric by the end of the decade (100% in Europe).

Although Jeep is already late to the party, it hopes its strong brand loyalty will help in the transition to EVs. With EV models, including the Wagoneer and Recon launching, Jeep looks to solidify its position as the industry transitions to electric.

What features do you want to see Jeep include on its first EVs? Let us know in the comments.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Cleveland-Cliffs shares jump 17% as steelmaker looks into rare earths mining

Published

on

By

Cleveland-Cliffs shares jump 17% as steelmaker looks into rare earths mining

Signage outside the Cleveland-Cliffs Inc. Cleveland Works steel mill in Cleveland, Ohio, US, on Wednesday, Aug. 17, 2022.

Luke Sharrett | Bloomberg | Getty Images

Cleveland-Cliffs is looking into building a rare earths mining business, CEO Lourenco Goncalves told investors Monday.

The steelmaker has two sites in Michigan and Minnesota where geological surveys have found indications of rare earths, Goncalves said in a statement on Cleveland-Cliffs’ third-quarter earnings.

Shares of Cleveland-Cliffs were trading about 17% higher.

“If successful, it would align Cleveland-Cliffs with the broader national strategy for critical material independence, similar to what we achieved in steel,” the CEO said “American manufacturing shouldn’t rely on China or any foreign nation for essential minerals, and Cliffs intends to be part of the solution.”

Rare earths are used to manufacture magnets that are key inputs in U.S. weapons platforms, electric vehicles, semiconductor fabrication, robotics and other applications.

China dominates the global rare earth supply chain and the U.S. is dependent on Beijing for imports. Beijing imposed strict export controls on rare earths earlier this month, provoking President Donald Trump to threaten 100% tariffs in retaliation.

The U.S. has only one commercial rare earth mine. The Defense Department struck a deal in July with the mine’s owner, MP Materials, that included an equity stake, a price floor and an offtake agreement.

Investors have been speculating that the Trump administration will strike similar deals with other U.S. companies that are trying to stand up domestic rare earths mines and processing facilities.

This is a developing story. Please check back for updates.

Continue Reading

Environment

Lucid (LCID) enlists big-name stars to hype its new luxury electric SUV

Published

on

By

Lucid (LCID) enlists big-name stars to hype its new luxury electric SUV

Lucid Motors (LCID) is recruiting more high-profile stars to spotlight its new luxury electric SUV, the Gravity.

The luxury EV maker is teaming up with some of the NBA’s biggest stars, Jalen Brunsen and Josh Hart, in its latest collaboration.

Lucid enlisted Jalen and Josh, teammates on the New York Knicks, for a new market campaign designed to celebrate “those who refuse to settle for the status quo.”

Keep a lookout this Wednesday, October 22, during the New York Knicks home opener against the Cleveland Cavaliers to see Jalen and Josh hype the Lucid Gravity electric SUV.

Advertisement – scroll for more content

Lucid, Hart, and Brunson plan to showcase “how precise performance, cultural influence, and athletic excellence come together — on the court, on the road, and in the moments that move individuals.” The partnership is the latest as Lucid builds a roster of high-profile celebrities and athletes to promote the brand.

Lucid-stars-electric-SUV
NBA superstars Jalen Brunson and Josh Hart alongside the Lucid Gravity (Source: Lucid Motors)

“To be one of the best, you have to be willing to do whatever it takes,” Brunson said, adding “It’s a commitment to improving every day, and never accepting that you can’t reach that next level. I see that same passion for excellence in Lucid.”

Lucid said the collaboration “underscores the brand’s mission to compromise nothing” as it builds a roster of high-profile celebs and athletes to promote the new Gravity electric SUV.

In August, Lucid teamed up with Timothée Chalamet, its first global brand ambassador, for an ad campaign called “Driven.”

Lucid also attended NFL star Travis Kelce’s, Kelce Car Jam last month. For every test drive, Lucid donated $87 to Kelce’s Eighty-Seven and Running Foundation. Kelce founded Eighty-Seven & Running in 2015 to mentor disadvantaged youth, help develop their skills, and motivate them to get out and do their best.

As it ramps up output, the EV maker has been actively promoting the Gravity. Last week, Lucid trolled Tesla on social media in a video asking Elon Musk’s Grok, “What’s the best luxury EV?”

Grok’s answer: The 2025 Lucid Air. Do you agree? ChatGPT and CoPilot said the same.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Elon Musk threatens to leave Tesla (TSLA) if he doesn’t get his ridiculous pay

Published

on

By

Elon Musk threatens to leave Tesla (TSLA) if he doesn't get his ridiculous pay

Elon Musk has openly threatened to leave Tesla, or at least his role as CEO, if he doesn’t get his ridiculous compensation.

He is now saying the quiet part out loud.

Tesla shareholders are about to vote on a new, controversial compensation package for Elon Musk.

While many are focused on the ridiculous size of the stock options, which could be worth up to $1 trillion, many analysts have highlighted other problems with the package.

Advertisement – scroll for more content

A Reuters report last week noted that, with business as usual and a market capitalization growth below the S&P average, Musk could still receive one or even two tranches of his compensation package, worth between $20 billion and $40 billion.

In short, under the rules of the package, Musk could receive the biggest payday in history for returning below average returns.

That’s on top of the CEO already having received more compensation from Tesla than the company has earned in profits since its existence.

One commentator on X pointed out the concern about the first tranche of the compensation plan. Instead of addressing the genuine concern, Musk responded by boasting about Tesla’s market capitalization and suggesting that he won’t be Tesla’s CEO if he doesn’t get the pay:

Tesla is worth more than all other automotive companies combined. Which of those CEOs would you like to run Tesla? It won’t be me.

The CEO then shared posts encouraging Tesla shareholders to vote for the shareholders meeting, which is happening on November 6th.

Electrek’s Take

There are many issues with this comment. First off, it completely ignores a real problem with the comp package. Even if you believe that Musk would deserve $1 trillion in compensation for bringing Tesla’s valuation to $20 trillion, the package shouldn’t allow for Musk to make tens of billions from below average return.

It looks like the package is being used as a trojan horse to dazzle shareholders with the promise of unlikely crazy returns when the more likely outcome is to give Musk what would still be a record compensation for Tesla delivering a below average return on investment.

The fact that Musk doesn’t want to address this clear issue is a red flag.

Furthermore, Musk is using a dirty card: you play by my rules or I’m gone.

This is what I previously called the ‘Tesla Dilemma’: Elon Musk is destroying Tesla’s profitable car business, but at the current valuation, his lies about self-driving and robots is what is keeping the stock alive.

Therefore, Tesla shareholders are disincentivized to vote against Musk if he threatens to leave because he would leave with his stock pumping lies – leading in the stock crashing.

He has a complete hold on Tesla and he is going to force shareholders to give him another ridiculous stock compensation package.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending