Inflation Reduction Act's EV tax credits explained

<p>The Inflation Reduction Act has three incentive programs for electric vehicle purchases. Here's a brief explainer on the eligibility requirements and how each credit works.</p>

https://www.autonews.com/retail/ev-tax-c...tives-work

Lidar maker Luminar's Mexico factory opens ahead of schedule

<p><a href="http://autonews.com/topic/lidar" target="_blank">Lidar</a> maker Luminar Technologies' new contract manufacturing facility is up and running ahead of schedule.</p>

<p>Expected to open later in the second quarter of this year, Luminar's Monterrey, Mexico, factory is producing and shipping its Iris sensors to Volvo, company spokesperson Milin Mehta told <i>Automotive News. </i><br />
They will be installed in the Swedish automaker's <a href="https://www.autonews.com/cars-concepts/volvo-reorients-lidar-create-invisible-shield-safety-ex90" target="_blank">EX90 electric crossover</a>, expected to be available as a new model in 2024.</p>

<p>Luminar's Mexico factory is owned and <a href="https://www.autonews.com/mobility-report/high-tech-car-insurance-luminar-deal-links-lidar-insurance-rates " target="_blank">operated by Celestica</a>, a Canadian multinational firm that provides companies with supply chain electronics manufacturing services. Luminar owns the factory's equipment and automated line.</p>

<p>Celestica operates another low-volume production facility for Luminar in Monterrey.</p>

<p>The new factory is 118,000 square feet. It has the capacity to produce 250,000 sensors a year, but that can be increased to 500,000 annually. The facility features 40,000 square feet of clean room space that meets International Organization for Standardization specifications.</p>

<p>A construction project underway will extend the factory by another 200,000 square feet. This new wing will give Luminar more space to conduct performance and quality tests on its lidars. It will also add production space to make millions of sensors annually, the company said in a statement.</p>

<p>"This enables an increase in capacity by well over an order of magnitude as compared to our existing manual line to meet our growing automaker requirements on volume," Luminar CEO <a href="https://www.autonews.com/mobility-report/lidar-maker-luminars-ceo-talks-insurance-and-path-profits" target="_blank">Austin Russell said.</a> "The successful bring-up of the automated factory is a major milestone and continues to show we can execute."</p>

<p>Construction of Luminar's Mexico facility started in July 2022. The factory was equipped in December 2022.</p>

<p>In the coming months, the company will turn its manufacturing attention to Asia. Luminar is expected to give investors an update on its Asian facility, the location of which has not been revealed, on its first-quarter earnings call May 9.</p>

https://www.autonews.com/mobility-report...d-schedule

ZF to receive millions of silicon carbide microchips from STMicroelectronics as EV b

<p>German parts supplier ZF Group signed a multiyear contract with a major producer of semiconductors to secure millions of silicon carbide chips that will be integrated into its upcoming inverter platform for electric vehicles.</p>

https://www.autonews.com/suppliers/zf-gr...v-business

VW reveals more powerful electric motor for MEB platform

Volkswagen Group on Thursday revealed a next-generation electric drive module designed for the MEB platform that underpins the automaker's mainstream EVs. The drive module, code-named APP550, contains the motor, inverter, and transmission, and is designed for the rear axle of the MEB platform. It will be rolled out in the fourth quarter starting...


https://www.motorauthority.com/news/1139...b-platform

Ford Motor Company Announces Details for Q1 2023 Earnings Conference Call

Ford Motor Company and Ford Motor Credit Company will release their first quarter 2023 financial results at 4:05 p.m. ET on Tuesday, May 2.


https://media.ford.com/content/fordmedia...onfer.html

Tesla launches new round of price cuts in Europe

<p>Tesla slashed prices in Europe, extending a global discount drive to help boost demand for its EVs.</p>

https://www.autonews.com/automakers-supp...ost-demand

Police disrupts $98M online fraud ring with 33,000 victims


Europol and Eurojust announced today the arrest of five individuals believed to be part of a massive online investment fraud ring with at least 33,000 victims who lost an estimated €89 million (roughly $98 million). [...]


https://www.bleepingcomputer.com/news/se...0-victims/

Rivian shifts to in-house motors to boost production

<p>The Rivian-made Enduro motor replaces units made by Bosch in most configurations of the R1T pickup and R1S crossover. Rivian says it will save money and speed up production.</p>

https://www.autonews.com/manufacturing/r...own-motors

Lucid's Q1 production, deliveries fall from previous quarter

<p>The luxury electric car-maker produced 2,314 vehicles and delivered 1,406 in the quarter ended March 31, lower than the 3,493 vehicles produced and 1,932 delivered in Q4 of 2022.</p>

https://www.autonews.com/manufacturing/l...es-fall-q4

Column: My first ride in a Cruise driverless vehicle was safe. But there was a glitch

<p>This reporter's first ride in a Cruise driverless vehicle checked all the safety boxes, but a glitch caused the ride to end early.</p>

https://www.autonews.com/commentary/self...-and-sound