Maserati reiterates all-electric ‘Made in Italy’ strategy in wake of delays, rifts with local gov’t
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.
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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Australian logistics company Linfox is making big moves to electrify its heavy-duty semi fleet with the addition of thirty new Volvo FH and FM Electric semi trucks as the Swedish brand works to begin production at its Brisbane facility.
Volvo Trucks is expecting to begin full scale production of its FH and FM Electric semi trucks at the Brisbane factory in early 2026, just in time to fill the Linfox order – which happens to be the company’s largest in Australia. So far.
“We are very proud to continue our close partnership with Linfox. The order for 30 Volvo electric trucks is proof of their trust in our company and in zero-emissions transport as a viable solution here and now,” said Roger Alm, President Volvo Trucks. “Our commitment to start building electric trucks in Australia demonstrates our confidence in this technology, and means we can offer an industry-leading range of purpose-built electric trucks all around the world.”
With the production kickoff of electric trucks in Australia, it means Volvo Trucks is building its big HDEVs and prime movers in five countries on three continents. Which, as the company’s electric fleet approaches the 100 millionth mile logged mark, probably means they’re pulling well ahead of some of the other guys.
“Linfox is excited to partner with Volvo in driving the future and leading sustainable logistics in Australia,” explains Peter Fox AM (Member of the Order of Australia), Executive Chairman of Linfox. “Further electrifying our fleet sets the standard for us and our customers and the entire industry.”
Linfox’ latest order includes 29 Volvo FH Electric and one FM Electric semi. The company currently has four electric Volvo trucks in its fleet of 195 semis, with plans to continue to electrify as ICE-powered assets reach retirement.
Electrek’s Take
Now counting miles in operation in the tens of millions and rolling out its third generation of electric semi trucks, Volvo (and, by extension, Mack and Renault) continue to build a huge lead in the commercial trucking space. The competition, meanwhile, seems content to post pictures of its first factory while trucks that have been on order for years still haven’t reached customers.
I can’t see how they (Tesla) catch up from here.
SOURCE | IMAGES: Volvo Trucks.
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Oakland International Airport (OAK) in Alameda, California is helping stressed-out air passengers breathe a little bit easier with the introduction of five new battery-electric K9MD shuttle buses to its ground equipment fleet.
Global EV leaders BYD aren’t coming to America – the Chinese brand is already here. The company has been building EVs in its $250 million, 106,000 square foot production facility in Lancaster, California since 2014, delivering hundreds of battery-electric buses to fleets across the world. With this order of five new K9MD buses, OAK becomes the latest airport to turn to BYD Ride to help electrify its ground operations.
“We applaud Oakland Airport and their commitment to electrifying its fleet,” said Jason Yan, Vice President of Sales, West Region and National Account at Ride. “[BYD] Ride is thrilled to partner with OAK to offer sustainable transportation solutions that benefit both the environment and the community.”
The K9MD buses seat up to 42 passengers and have a 208 mile operating range from a 352 kWh lithium iron phosphate battery. That battery is backed by a 12-year warranty to help keep fiscally conservative fleet buyers at ease, while the smooth, quiet, and electric drive keeps the fleet’s operators happy, too.
Oakland International Airport is operated by the Port of Oakland, and is scheduled to electrify its entire ground operations fleet by 2030.
Electrek’s Take
The people live and work near airports are exposed to more emissions than most – and that includes kids, the elderly … even their pets. Electrifying the assets that operate in those spaces pays huge and immediate dividends in terms of the public health of some of the most vulnerable populations.
It’s as good a place as any to start. Let’s go.
SOURCE | IMAGES: BYD.
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Environment
Trump meme coin dinner likely to include mostly non-Americans based on top $TRUMP holders
Jonathan Raa | Nurphoto | Getty Images
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.
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