Italian automaker Maserati is doubling down on its roots and letting the world know that its vehicles will continue to be 100% designed, developed, and manufactured in Italy. That said, some of those Maserati vehicles in the pipeline, particularly the 100% electric ones, continue to face development hurdles. Meanwhile, Stellantis CEO Carlos Tavares is in a battle with the Italian government over EV sales support.
Maserati currently operates as the only luxury brand under the Stellantis umbrella and has a 109-year history in automotive development in Italy – a country with a fair share of household names in fast cars… and Fiat.
As a wholly-owned Stellantis marque, Maserati has joined the former’s “Dare Forward 2030” electrification plans, which entails all-new Maserati models arriving 100% electric under a new “Folgore” nomenclature.
In the past two years, we’ve seen Maserati introduce four all-electric models to the world: GranTurismo Folgore, Grecale Folgore, GranCabrio Folgore, and Quattroporte Folgore. However, the first two models above were slotted for 2023 launches and missed their target. GranTurismo Folgore deliveries are now underway, but while we await an all-electric Grecale SUV, Maserati shared news of more delays, this time involving the Quattroporte.
With additional all-electric models now in its pipeline, Maserati wants to reiterate its dedication to BEVs but, more importantly, its native Italy, where it intends to continue to build them, despite the quarrels its parent company’s CEO is stirring up with the local government regarding tax incentives.
The all-electric GranTurismo Folgore / Source: Maserati
Maserati vows to go electric and remain 100% Italian
Via press release today, Maserati confirmed that while its vehicle powertrains are shifting to electric, it is business as usual for its development and production footprints in Italy, with Modena, its home for over 80 years, remaining the “beating heart” of its operations. Per Maserati CEO Davide Grasso:
Driven by our Modena heart, we are going full throttle to lead change on electrification, with two of our iconic models already available for purchase in their 100% electric versions, and another on the way this year. We will offer our preferred customers the most powerful Maseratis ever, pushing the boundaries of driving pleasure to a new era. With our long-term strategic vision and plan, we want to make a mark in the luxury world with unique Italian manufacturing excellence, constantly pushing distinctive quality and building our future with a dedicated business model that guarantees our customers the best products that reflect the Trident’s values.
While Maserati’s CEO still has much love for Italy, parent company Stellantis’ CEO Carlos Tavares is in a bit of a quarrel in the country – particularly with its government over weak incentives. Aside from Maserati, Stellantis owns other marques and production operations in Italy, including Fiat.
Tavares continues to criticize the Italian government for spending less money than the rest of the EU in supporting EVs. During a recent visit to Stellantis’ van-making facility in central Italy, Tavares said the OEM has been asking the Italian government for the last nine months to support EV sales to help keep the lights on at its Mirafiori plant in Turin, where the 500e is built:
Italy is spending much less money than any other great European country to support EVs. The consequence is that we are losing manufacturing products in Italy that we could manufacture (…) We already wasted nine months of production, of additional production in Mirafiori.
According to Reuters, the Italian government appears to have heard the always polarizing Stellantis CEO and will present a new incentives strategy on February 1st, which is expected to be worth over 900 million euros.
Meanwhile, Maserati says its team of approximately 130 engineers and technicians will continue their work in Italy to help develop electric powertrains and “contribute to steering the brand to a higher luxury positioning.”
It appears Maserati has pushed the Quattroporte three years to 2028 and will prioritize an all-electric of the MC20 instead. Here’s the automaker’s current BEV pipeline:
GranTurismo Folgore – Deliveries underway
Grecale Folgore – Deliveres scheduled for Q2 2024
GranCabrio Folgore – Launch expected in 2024
MC20 Folgore – 2025
Large E-UV BEV – 2027
Quattroporte Folgore – 2028 (originally 2025)
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With President Donald Trump’s private dinner for top meme coin holders less than a week away, the leaderboard is awash with crypto wallets that are effectively anonymous.
On May 22, the top 220 $TRUMP holders are invited to a dinner with the president at his Virginia golf club outside of Washington, D.C. The event was announced last month, and the tally closed Monday night.
The nature of the pseudonymous wallets raises questions about the true identities and motivations of the token’s largest holders, who have bought a seat at the table with a U.S. president.
Documents from blockchain analytics firm Inca Digital that were reviewed by CNBC show where the top 275 $TRUMP token holders send and receive the token. Many are heavily tied to international exchanges like Binance that don’t service U.S. customers, an indication that they’re likely not U.S. citizens.
An analysis by Bloomberg revealed that 19 of the top 25 wallets are almost certainly owned by individuals operating outside the U.S.
Justin Sun, who openly shared that he bought $75 million worth of the Trump family’s World Liberty Financial token — a digital coin where 75% of proceeds go to Trump-related entities — is believed to be at the top of the $TRUMP meme token leaderboard.
Sun, who was born in China, is the crypto entrepreneur behind the Tron blockchain and is in talks with the SEC to resolve civil fraud charges.
A wallet called Sun currently holds more than $18 million worth of $TRUMP, with $4.5 million bought after the dinner contest announcement, according to Bloomberg.
Multiple reports point to the wallet being tied to the Tron founder. A representative for Sun didn’t respond to CNBC’s request for comment or confirm whether Sun is the wallet owner.
MemeCore, a Singapore-based crypto network that was vocal in its quest to secure a spot at the Trump dinner, landed in second place with an investment of $18 million. An Australian crypto entrepreneur also reportedly made the cut.
The leaderboard points to the token’s extreme volatility.
Inca Digital told CNBC that while 560,376 wallets have made a combined $5.2 billion in realized gains on the $TRUMP token, an even larger number — 592,962 wallets — have collectively lost $3.9 billion.
The figures underscore the massive wealth transfer within Trump’s crypto ecosystem, where early buyers have seen windfalls while the majority have suffered losses.
Chainalysis and Elliptic, two leading blockchain analytics firms, initially tracked $TRUMP token movements and trading fees. But days after CNBC published a story on the number of crypto wallets that had lost money on the meme coin, the firms said they were too busy with existing clients to continue blockchain analysis of the president’s self-branded meme token.
Sen. Richard Blumenthal, D-Conn., the ranking member of the Senate Subcommittee on Investigations, warned that the Trump family’s growing crypto holdings may serve as a backdoor for foreign and corporate interests seeking access to the president.
Freight Technologies, a Houston-based logistics firm that trades on the Nasdaq and has a market cap of just over $2.3 million, bought $2 million worth of the $TRUMP tokens to influence U.S.-Mexico trade policy, according to a release. CEO Javier Selgas described the move as a strategic push to “champion fair and free trade” across the U.S.-Mexico border.
Freight Technologies finished in 250th place, missing the cut for the dinner.
The update incentive applies to Tesla’s entire lineup of new vehicles.
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Tesla also introduced a new incentive for Lyft drivers. They are eligible to $1,000 in Tesla credits when taking delivery and $1,000 from Lyft if they complete 100 deliveries by July 13.
The automaker wrote on its website:
Eligible Lyft drivers who purchase a new Tesla vehicle can receive $1,0001 in Tesla Credits upon taking delivery and a $1,000 incentive from Lyft after completing 100 trips on or before July 13, 2025. Tesla Credits can be used toward Supercharging, a new Tesla vehicle, service appointments or select Tesla Shop or upgrade purchases. Offer available to active Lyft drivers in good standing.
Tesla also started reaching out to Cybertruck reservation holders to let them know that they only have a month before they can’t take advantage of lower FSD prices.
The automaker wrote in the email:
As an early reservation holder, you have access to a reserved Full Self-Driving (Supervised) price of $7,000. To keep this price, you’ll need to take delivery by June 15, 2025. After June 15, 2025, FSD (Supervised) will be available at the latest price, which is currently $8,000.
When Tesla started taking Cybertruck reservations in 2019, Tesla said that by reserving the truck, reservation holders were locking in the then $7,000 price for its ‘Full Self-Driving’ package.
It looks like Tesla is now putting a deadline to take advantage of this deal to boost orders of the Cybertruck, which has proven to be a commercial flop.
On top of all these incentives, Tesla is also subsidizing interest rates to offer 0% financing on Model 3, and 1.99% financing on Model Y.
All those incentives in place point to Tesla having significant demand issues in the US.
Tesla’s global sales came about 50,000 units below expectations, which the company blamed on the production changeover of Model Y, its most popular model by far.
However, production is now back up to normal in Q2, and Tesla is clearly having issues selling the updated Model Y.
The automaker has no backlog of orders for the new Model Y and vehicles are already piling up in inventory:
We reported last week that Tesla employees wrote an open letter calling for Elon Musk’s removal as CEO due to the damage he has caused to the brand.
This is not a great sign for Tesla. These are end-of-quarter level incentives when we are just about halfway through the quarter.
And that’s just in the US, where Tesla’s sale performance is more opaque.
In Europe and China, where we know for a fact that Tesla is struggling with sales, the automaker is virtually offering 0% financing on its entire lineup.
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The electric box van experts at Harbinger announced a new, EREV version of their medium-duty van that pairs a big battery with a small, gas-powered ICE engine to offer fleets that are hesitant to electrify a massive 500 miles of autonomy on a single charge + tank.
The American truck brand is putting its latest $100 million raise to good use, developing a cost-competitive EREV chassis that marries a low-emissions 1.4L inline four-cylinder gas engine with a close coupled 800V generator sending power to a 140 or 175 kW battery for up to 500 miles of fully loaded range. More than enough, in other words, to meet the needs of just about any fleet you can think of.
That’s a good thing, too, because medium-duty trucks are put to work in just about any circumstance you can think of, as well – a fact that’s not lost on Harbinger.
“Medium-duty vehicles serve an incredibly diverse range of applications, just like the fleets and operators that rely on them, ” explains John Harris, Co-founder and CEO, Harbinger. “There are some fleets whose needs simply can’t be met with a purely electric vehicle—and we recognize that. Our hybrid is designed for use cases and routes that go beyond what an all-electric system typically supports. The series hybrid delivers the benefits of an electric drivetrain, along with the added confidence of a range extender when needed.”
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In addition an up-front cost that should make it an attractive prospect for fleet buyers, the new Harbinger EREV pack performance that should made it attractive for its drivers, too. The new chassis’ electric powertrain delivers 440 hp and 1,140 lb-ft of tq for quick acceleration into traffic and smooth running, even under load. Charging performance is also quick, with the ability to get the big battery from 10-80% charge in just under an hour on a 150 kW port.
You’ve heard all this before
Thor hybrid RV concept; via Thor.
If that sounds familiar, that’s because it is. This medium-duty chassis was first shown last year, making its debut under a Thor Class A motorhome concept that we covered in September. That vehicle promised the same great EREV range and capability to a market that values independence and spontaneity more than most, and bringing those values to a medium-duty commercial market that’s lapping up “messy middle” propaganda from Shell NACFE is just smart business.
The new Harbinger chassis’ batteries are manufactured by Panasonic. No word on who is making the 1.4L ICE generator, but my money’s on the GM SGE four-cylinder last seen in the gas-powered Chevy Spark. You guys are smart, though – if you have a better guess who the supplier might be, let us know in the comments.
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