Chevy teases 2024 AWD Corvette E-Ray, NYC reveal slated next week
Chevrolet posted a teaser of the upcoming “Electrified” Corvette E-Ray complete with internal combustion engine revving noises and silent EV “stealth” driving, side-by-side. While we’d obviously prefer to see a fully electric Corvette, we’re certainly still interested to see what Chevy has got in store…
In April of last year, GM president Mark Reuss finally spilled the tea, announcing:
We will offer an electrified and a fully electric, Ultium-based Corvette in the future.
While we haven’t heard about the all-electric Corvette EV drop, a strange report came in a few months ago that Chevy was going to spin up a Corvette EV brand including SUVs (a’hem, Mustang Mach-E) and four-door variants. If you think an electrified Corvette is going to ruffle some feathers (and head to the Instagram comments for overwhelming proof of that), a four-door SUV Corvette is going to cause some heads to explode.
The electrified bit of the puzzle is set to drop on January 17 in New York City, on the 70th anniversary of the unveiling of the original Corvette in 1952 at the Waldorf Astoria:
Corvette unveiled at GM Motorama
On January 17, 1953, a prototype Chevrolet Corvette sports car makes its debut at General Motors’ (GM) Motorama auto show at the Waldorf-Astoria Hotel in New York City. The Corvette, named for a fast type of naval warship, would eventually become an iconic American muscle car and remains in production today.
Perhaps most interesting is the AWD component and if the ICE and EV powerchains intermingle and if so, how?
For instance a rear drive ICE could add charge the FWD EV motor via regen or an alternator. Chevy notes that the AWD could be the first Corvette that doesn’t immediately slide into a ditch when snow falls.
General Motors has been promising “EVs for everyone” for years, yet we’re still early stages of fulfilling that promise with only the low volume/high-end Cadillac Lyriq and GMC Hummer EV – and the Electrek Car of the Year 2022, the Bolt EV – on the value end of the spectrum.
While an Electrified E-Ray Corvette isn’t going to fill out the middle, Chevy alone has three big launches slated for later this year: The Silverado EV (Fleets only) in spring, the speedy Blazer SS EV in summer, and the value-focused Equinox EV in the fall.
Electrek’s Take
Assuming the E-Ray is a plug-in and not a mild hybrid which would make most of this post and the car itself moot, I’m torn. Plug in Hybrids will be obsolete, I think, within a decade – but I also see some value in them while the world transitions to EVs, in two separate areas:
- Infrastructure: Today, we don’t have the infrastructure to get everywhere with just EVs efficiently. We’re getting closer, but there are still edge cases which some people still rightfully can’t fully go electric. Yes, this is probably under 10% of the population and shrinking, but they do exist. So a large plug-in battery which they can use every day on commutes works, and then they can visit Grandma’s house in the woods in a charger desert which can also be accomplished with gas.
- Batteries are going to be the bottleneck to EV adoption for the next decade. If you’ve got 100kWh of batteries, should you put them all in one Tesla S/X, Rivian, or F-150, or should you split them up between 5 PHEV vehicles where the full charge of the battery will be used to offset gas use every day? Smaller PHEV batteries will remove more gas overall. Therefore, holistically, PHEVs are still valid until the battery supply can catch up to demand.
As for the Corvette E-Ray, I’m not sure GM won’t be upsetting two different groups. The ICE traditionalists are already all over the Instagram post saying, “If it is electrified, it isn’t a Corvette.” Meanwhile, the EV purists are asking why even include an internal combustion engine when a pure EV is so much faster, smoother, and quieter, and often has better driving dynamics? (I’m in the latter group, obviously.)
Timing-wise, the 2024 E-Ray will line up well with the 2020 Tesla Roadster “Vapor,” which should launch within the decade or so.
The proof will be in the E-Ray reveal next week, but if you have any questions, I’ll be able to answer speculate a lot more on Friday’s podcast.
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On today’s episode of Quick Charge, Tesla’s Cybertruck is now available in Canada – and, like in the US, there’s no waiting! Plus, we’ve got an “actually” smart summon Tesla that’s actually stuck, GM reaches a sales milestone, and we get a brand-new title sponsor!
Today’s episode is the first with our new title sponsor, BLUETTI – a leading provider of portable power stations, solar generators, and energy storage systems.
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Read more: Renewables now make up 30% of US utility-scale generating capacity
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![This 'supercharger on wheels' brings fast charging to you [update]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2024/05/EV-mobile-charging-with-Yoshi-Mobility-3.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
Mobile car care company Yoshi Mobility launched a DC fast charging EV mobile unit that it likens to “a supercharger on wheels.”
November 4, 2024 update: Yoshi Mobility will only be charging EVs on the side of the road now – it announced today that it’s selling its fleet fueling operation to EZFill Holdings (Nasdaq: EZFL).
It was originally founded as a direct-to-consumer, mobile fueling business in 2016, but now it’s going to focus on mobile EV charging, virtual vehicle inspections for partners like Uber and Turo, and onsite preventative maintenance.
Bryan Frist, Yoshi Mobility’s CEO & cofounder, said, “By spinning off our fuel business and focusing all of our energy on solving hair-on-fire problems that fleet owners face, we are meeting the changing needs of enterprise customers while making the future of transportation safer, cleaner, and more sustainable.”
May 22, 2024: Yoshi Mobility saw that its existing customers needed mobile EV charging in places where infrastructure has yet to be installed, so the Nashville-based company decided to bring the mountain to Moses.
“We recognized a demand among our customers for convenient daily charging, reliable private charging networks, and proper charging infrastructure to support their fleet vehicles as they transition to electric,” said Dan Hunter, Yoshi Mobility’s chief EV officer and cofounder.
The company says its 240 kW mobile DC fast charger, which can turn “any EV” into a mobile charging unit, is the first fully electric mobile charger available. It can provide multiple charges in a single trip but doesn’t detail how they charge the DC fast charger or who manufactured it. (I asked for more details, and they replied that they won’t disclose client names or the manufacturer of its DC fast charger yet.)
Yoshi is launching its mobile charger on two GM BrightDrop Zevo 600s and will introduce additional vehicles throughout 2024. It aims for full commercialization by Q1 2025. (I wonder if the Zevo 600 ever charges itself? Yes, I asked that too.)
Yoshi Mobility says it’s already deployed its EV charging solutions to service “major OEMs, autonomous vehicle companies, and rideshare operators” across the US. Its initial customers are made up of large EV operators managing “hundreds” of light-duty vehicles requiring up to 1 megawatt of energy per day that don’t yet have grid-connected EV chargers. I’ve asked Yoshi for details of who it’s working with, and will update if they share that info.
The company says pricing is based on location and enterprise charging needs. Once under contract for service, the service will be deployed to US-based customers within 10 days.
To date, Yoshi Mobility has raised more than $60 million, with investments from GM Ventures, Bridgestone, ExxonMobil, and Y-Combinator in Silicon Valley.
Read more: Mercedes-Benz just opened more DC fast chargers at Buc-ee’s in Texas
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Marqeta celebrates its initial public offering at the Nasdaq on June 9, 2021.
Source: The Nasdaq
Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter.
Here’s how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG:
- Loss per share: 6 cents adjusted vs. a loss of 5 cents expected
- Revenue: $128 million vs. $128.1 million expected
While third-quarter results showed a slight disappointment on the top and bottom lines, Marqeta’s forecast for the current period was more concerning.
The payment processing firm said revenue in the fourth quarter will increase 10% to 12% from a year earlier. Analysts were looking for growth of more than 17%, according to LSEG.
Marqeta, which primarily functions as a card-issuing platform, attributed the guidance miss to “heightened scrutiny of the banking environment and specific customer program changes.” The company has been struggling for a while, and its stock is now down more than 80% from its peak in 2021, the year it went public. The stock was down 15% for the year prior to the report.
Total processing volume of $74 billion was up more than 30% from a year earlier. Net revenue and gross profit were up 18% and 24%, respectively.
Marqeta’s digital commerce business sells payment technology designed to detect potential fraud and ensure that money is properly routed. It also issues customized physical cards that look like a credit or debit card that can be used for point-of-sale purchases.
The company has been trying to break into the buy now, pay later business with a recently launched product called Marqeta Flex. The service brings BNPL from lenders such as Affirm or Klarna to any credit card wherever Mastercard and Visa are accepted.
“It’s an orchestration layer, but it’s tied to issuing and processing and disputes and chargebacks,” CEO Simon Khalaf told CNBC at Money2020 in Las Vegas last week. “So it is not actually a Wild West in BNPL. It is actually very well established. And there is a reason why a lot of people are jumping to it.”
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