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After deliveries reached 27,885 through the first nine months of 2023, Porsche says the Taycan EV “is and will remain a success story.” Meanwhile, with nearly 243,000 total vehicles delivered, Porsche’s ICE vehicles continue carrying the bulk of sales.

Porsche delivered 242,722 vehicles in the first nine months of the year, up 10% compared to 2022.

The luxury sports brand achieved growth in every region except its most important – China. From January to September, Porsche’s overall deliveries rose by 23% in Europe (excluding Germany), 23% in overseas and emerging markets, 19% in Germany, and 14% in North America.

In China, sales fell by 12%. Porsche attributes the decline to a continued “challenging economic situation” in the country.

Excluding China, Porsche’s deliveries were up 19% globally compared to last year. Meanwhile, deliveries of its sole EV, the Porsche Taycan, increased by 11%.

With deliveries reaching 27,885 through September, Lutz Meschke, Deputy Chairman of the Executive Board at Porsche, said, “The Taycan is and will remain a success story.”

Jan – Sept
2020
Jan – Sept
2021
Jan – Sept
2022
Jan – Sept
2023
Porsche Taycan deliveries 10,944 28,640 25,073 27,885
Porsche Taycan deliveries through the first nine months of the year

However, the Taycan’s growth has been fading for nearly two years now. Sales of Porsche’s sole EV fell 16% last year and were down another 4.7% through the first half of 2023, and they are still down from 2021.

Taycan sales did pick up slightly over the past few months, with 9,894 units sold in the third quarter. But does that make the Porsche Taycan a success story?

Porsche-Taycan-success
Porsche Taycan Turbo (Source: Porsche)

Porsche says Taycan is a success yet ICE sales dominate

Through the first nine months of the year, the Taycan accounted for 11.5% of overall Porsche sales. That number is up from 10.8% through the first half of 2023 but still down from 13% last year.

Recent reports claim Porsche will rely on its ICE vehicles to continue carrying the weight for some time. An Automotive News report from June suggested Porsche will keep the gas-powered Macan around despite plans to launch an electric version next year.

Porsche-Macan-EV-spotted
Porsche Macan EV spotted testing (Source: Autocar)

The automaker also plans to keep the 911, its best-selling vehicle, in its lineup through the EV transition.

Porsche is sticking by its goal of reaching 12% to 14% EV share this year. Before launching the Taycan in 2019, Porsche said it expected sales of around 20,000 cars annually. “We have always clearly exceeded this goal – despite difficult circumstances in the supply chain and sales regions, where development in terms of e-mobility can vary significantly,” Meschke explained.

Porsche-Taycan-success
Porsche Taycan (Source: Porsche)

However, 2019 was four years ago, and the auto industry has shifted significantly. The share of electric cars has more than tripled over the last three years, from roughly 4% in 2020 to 14% in 2022.

Porsche’s sales rose by 12.6% to 30.12 billion euros ($31.9 billion) through September. Meanwhile, operating profit was up 9%, while Porsche’s operating margin was 18.3%.

The luxury sports automaker confirmed its forecast for the year. Porsche expects an operating margin between 17%-19% on revenue of 40-42 billion euros ($42-$44.5 billion).

Electrek’s Take

It’s hard to call the Porsche Taycan a success story with deliveries still down compared to two years ago.

In 2021, Porsche delivered 28,640 Taycan models through the first nine months of the year. Two years later, Porsche has delivered 27,885 Taycan EVs through September.

Porsche’s growth is coming almost solely from ICE vehicles right now. The automaker continues to say it expects “significant” increases in Taycan sales, but the numbers have yet to show it.

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Tesla changes meaning of ‘Full Self-Driving’, gives up on promise of autonomy

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Tesla changes meaning of 'Full Self-Driving', gives up on promise of autonomy

Tesla has changed the meaning of “Full Self-Driving”, also known as “FSD”, to give up on its original promise of delivering unsupervised autonomy.

Since 2016, Tesla has claimed that all its vehicles in production would be capable of achieving unsupervised self-driving capability.

CEO Elon Musk has claimed that it would happen by the end of every year since 2018.

Tesla has even sold a software package, known as “Full Self-Driving Capability” (FSD), for up to $15,000 to customers, promising that the advanced driver-assist system would become fully autonomous through over-the-air software updates.

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Almost a decade later, the promise has yet to be fulfilled, and Tesla has already confirmed that all vehicles produced between 2016 and 2023 don’t have the proper hardware to deliver unsupervised self-driving as promised.

Musk has been discussing the upgrade of the computers in these vehicles to appease owners, but there’s no concrete plan to implement it.

While there’s no doubt that Tesla has promised unsupervised self-driving capabilities to FSD buyers between 2016 and 2023, the automaker has since updated its language and now only sells “Full Self-Driving (Supervised)” to customers:

The fine print mentions that it doesn’t make the vehicle “autonomous” and doesn’t promise it as a feature.

In other words, people buying FSD today are not really buying the capability of unsupervised self-driving as prior buyers did.

Furthermore, Tesla’s board has just submitted a new, unprecedented CEO compensation package for shareholders’ approval, which could give Musk up to $1 trillion in stock options pending the achievement of certain milestones.

One of these milestones is Tesla having “10 Million Active FSD Subscriptions.”

At first glance, this would be hopeful for FSD buyers since part of Musk’s compensation would be dependent on delivering on the FSD promises.

However, Tesla has changed the definition of FSD in the compensation package with an extremely vague one”

“FSD” means an advanced driving system, regardless of the marketing name used, that is capable of performing transportation tasks that provide autonomous or similar functionality under specified driving conditions.

Tesla now considers FSD only an “advanced driving system” that should be “capable of performing transportation tasks that prove autonomous or similar functionality”.

The current version of FSD, which requires constant supervising by the driver, could easily fit that description.

Therefore, FSD now doesn’t come with the inital promise of Tesla owners being able to go to sleep in their vehicles and wake up at their destination – a promise that Musk has used to sell Tesla vehicles for years.

Electrek’s Take

The way Tesla discusses autonomy with customers and investors versus how it presents it in its court filings and legally binding documents is strikingly different.

It should be worrying to anyone with an interest in this.

With this very vague description in the new CEO compensation package, Tesla could literally lower the price of FSD and even remove base Autopilot to push customers toward FSD and give Musk hundreds of billions of dollars in shares in the process.

There’s precedent for Tesla decreasing pricing on FSD. Initially, Musk said that Tesla would gradually increase the price of the FSD package as the features improved and approached unsupervised autonomy.

That was true for a while, but then Tesla started slashing FSD prices, which are now down $7,000 from their high in 2023:

The trend is quite apparent and coincidentally began when Tesla’s sales started to decline.

FSD is now a simple ADAS system without any promise of unsupervised self-driving. This might quite honestly be one of the biggest cases of false advertising or bait-and-switch ever.

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GM’s promised affordable EVs hit another hurdle, but there’s more to the story

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GM's promised affordable EVs hit another hurdle, but there's more to the story

The new Chevy Bolt EV is set to enter production later this year, with one fewer shift, following GM’s reduction in production plans at several US plants. Apart from the Bolt, GM promised a new family of affordable EVs. Are those, too, now at risk?

GM says more affordable EVs are coming, but when?

GM remained the number two EV maker in the US after back-to-back record sales months in July and August. However, with the $7,500 federal tax credit set to expire at the end of the month, the company expects a slowdown.

On Thursday, GM sent a note to employees at its Spring Hill plant in Tennessee, outlining plans to reduce output of two Cadillac electric SUVs, the Lyriq and Vistiq.

A source close to the matter confirmed the news to Reuters, saying the production halt will begin in December. GM will significantly reduce output during the first five months of 2026, according to the source.

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GM is also delaying the second shift at its Fairfax Assembly Plant in Kansas City, where the new Chevy Bolt is slated to enter production later this year. The Bolt will be the first of a new series of affordable EVs that GM intends to build in Kansas.

GM-affordable-EVs
GM plans to build a “next-gen affordable EV) in Kansas (Source: GM)

However, those too, may now be in jeopardy. According to local news outlets, GM Korea Technical Research Center (GMTCK), a spin-off of GM’s Korean subsidiary, was recently cut out of a secret small EV project it was developing.

GMTCK president Brian McMurray reportedly announced internally last month during a trip to the US that the project was cancelled and only 30% to 40% complete.

A GM Korea spokesperson clarified that “the EV project being led by GMTCK was a global undertaking, not undertaken solely by GM Korea. The spokesperson added, “The project itself has not been canceled; the role of the Korean team has simply changed.”

The new electric car, dubbed “Fun Family,” was scheduled to launch under the Chevy and Buick brands, using a single platform. Production was expected to begin in 2027 with deliveries starting in 2028.

Chevy-Bolt-EV
2022 Chevy Bolt EUV (Source: GM)

GM Korea exports over 90% of the vehicles it makes to the US, but with the new auto tariffs, the subsidiary is expected to play a drastically smaller role, if any at all. The news is fueling the ongoing rumors that GM could withdraw from Korea altogether.

In addition to the tariffs, South Korea’s recently passed “Yellow Envelope Law” could make it even more difficult for GM with new labor laws.

Chevy-Equinox-EV-discounts
Chevy Equinox EV LT (Source: GM)

Will this impact the affordable EVs GM is promising to launch in the US? They are scheduled to be built in Kansas, but with the R&D Center, GM’s second largest globally, following the US, claiming to be excluded from a major global EV project, it can’t be a good sign.

In the meantime, GM already has one of the most affordable electric vehicles in the US, the Chevy Equinox EV. Starting at under $35,000, the company calls it “America’s most affordable” EV with over 315 miles of range.

With the $7,500 federal tax credit still available, GM is promoting Chevy Equinox EV leases for under $250 a month. Nowadays, it’s hard to find any vehicle for under that.

Source: Newsworks Korea

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Connecticut, Rhode Island sue Trump to save 80% complete offshore wind farm

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Connecticut, Rhode Island sue Trump to save 80% complete offshore wind farm

Connecticut and Rhode Island are suing the Trump administration to overturn its “baseless” decision to halt Revolution Wind, a nearly completed offshore wind farm set to deliver clean power to New England.

Attorneys General William Tong of Connecticut and Peter Neronha of Rhode Island announced Thursday that they’ll file suit in Rhode Island federal court to overturn the August 22 stop-work order from the Bureau of Ocean and Energy Management (BOEM). The order abruptly shut down construction without citing any violation of law or safety threats. Instead, BOEM vaguely referred to “concerns” under its Outer Continental Shelf Lands Act authority, offering no explanation.

Revolution Wind is 15 nautical miles off Rhode Island and expected to come online in 2026. Once complete, the $6 billion project would supply 350,000 homes with electricity and save ratepayers in Connecticut and Rhode Island hundreds of millions of dollars over 20 years. The project supports more than 2,500 jobs across the US, including over 1,000 union construction jobs, and has already cleared every required state and federal review. Construction is already 80% complete.

The lawsuit, to be filed against the Department of the Interior, BOEM, and their nominated leaders, argues that the stop-work order violates the Administrative Procedure Act and the agency’s authority under OCSLA. The complaint says the government’s action is arbitrary, capricious, and undermines both states’ legal and financial commitments.

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“Revolution Wind is fully permitted, nearly complete, and months from providing enough American-made, clean, affordable energy to power 350,000 homes. Now, with zero justification, Trump wants to mothball the project, send workers home, and saddle Connecticut families with millions of dollars in higher energy costs,” Tong said. “This kind of erratic and reckless governing is blatantly illegal, and we’re suing to stop it.”

Neronha added, “With Revolution Wind, we have an opportunity to create good-paying jobs for Rhode Islanders, enhance energy reliability, and ensure energy cost savings while protecting our environment. And yet, this stop-work order is not even the latest development in this administration’s all-out assault on wind energy. Just yesterday, we learned of reports that the Administration is pulling in staff from several different unrelated federal agencies, including Health and Human Services, to do its bidding. This is bizarre, this is unlawful, this is potentially devastating, and we won’t stand by and watch it happen.”

Connecticut Governor Ned Lamont said the administration has offered no explanation nearly two weeks after the order. “We hoped to work with the Administration to lower energy costs, strengthen grid reliability, create jobs, and drive economic growth, but only if they share those goals. But if they do not, we will act to preserve this vital project and protect the energy future of Connecticut and the entire New England region,” he said.

Senator Richard Blumenthal (D-CT) called the shutdown “insane, illogical, and illegal,” while Senator Chris Murphy (D-CT) said, “The Revolution Wind project has already made it through exhaustive reviews by multiple federal agencies, and I doubt Trump’s flimsy excuses for scuttling this project will stand up to legal scrutiny.”

Danish renewables developer Ørsted, which owns a 50% share in Revolution Wind, also announced Thursday that it’s suing the Trump administration in a bid to restart construction on the blocked wind farm.

Read more: Trump’s latest offshore wind cancellation is a threat to the grid – ISO New England


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