Hello! Thank you for checking out this weeks’ EV North Newsletter!

Here is what you will find in this issue:

• Ford F-150 Lightning and Mustang Mach-E Owners Gain Access to Tesla Superchargers in the U.S. and Canada.

• Fisker Faces Financial Strain: Layoffs and Uncertainty Loom as Cash Dwindles.

• Elon Musk talks 'Mind-Blowing' Tesla Roadster 2024.

• Aptera Motors Unveils Latest Solar EV App, Battery Innovations, and Delivery Insights in February 2024 video update.

• Polestar Secures External Funding, Confirms Business Outlook.

• The Rivian R2 is set to be unveiled on Thursday March 7th, 2024. Some info leaked.

• +more!

But first:

I’ve had a few people ask me about EV batteries lately - mainly concerns about batteries failing and needing replaced. Truth is, battery packs can have issues (I often relate them, in my head, to how traditional gas vehicles have engines that can fail - it rarely happens but when it does - it isn’t fun, especially when outside of the warranty period.

If you Google “Canada lemon law” (even though there is not a definitive lemon law in Canada) the main search results are related to gas vehicle defects.

How often do you hear of someone needing to get their engine replaced under warranty? Probably few far and in-between, and same goes for the battery components of an EV. If the engine of a new gas vehicle (which is still under warranty) fails - well it would be covered under warranty and I’m sure that the paperwork and the process as a whole is less than ideal. This would be the same process with EV batteries.
Under warranty = replaced but a pain.
Not under warranty (outside warranty period) = $$$.

Here are some warranties from various manufacturers:

Hyundai offers 8 year/160,000km battery warranty. (hyundaicanada.com)

Tesla offers 8 year/192,000km on the battery and drive unit. (tesla.com)

Kia offers 8 year/160,000km EV/HEV/PHEV High Voltage Battery warranty. (kia.ca)

Rivian offers 8 year/280,000km (whichever occurs first) for Large pack battery with Quad-Motor. 8 year/240,000km (whichever occurs first) for Large or Max pack battery with Dual-Motor. No info on Standard or Standard + packs - likely the same as above. (Rivian.com)

Chevrolet offers 8 year/160,000km propulsion battery and specified electric drive component. (chevrolet.ca)

Lucid offers the same 8 year/160,000km warranty but also covers the battery if it’s capacity reduces below 70% of original capacity. (lucidmotors.com)

Mercedes-Benz warranty for EQB SUV is 8 years/160,000km (whichever occurs first). However, for the EQE and EQS variants the manufacturer warranty coverage is 10 yrs/250,000 kms (whichever occurs first). (mercedes-benz.ca)

BMW offers the same 8 year/160,000km warranty. (elitebmw.com)

Canada

Ford F-150 Lightning and Mustang Mach-E Owners Gain Access to Tesla Superchargers in the U.S. and Canada.

Ford EV owners now have unprecedented access to Tesla Superchargers throughout the United States and Canada. This partnership is key as the EV industry takes a step forward for non-Tesla electric vehicle owners, addressing a key concern highlighted in consumer sentiment studies: the accessibility of charging stations. Tesla undoubtedly has the best charging network.

Often people suggested Tesla’s to potential EV buyers simply for their incredible charging network. As Tesla continues to open their network to other manufacturers, that suggestion won’t have as much significance.

With over 15,000 Tesla Superchargers now accessible, Ford's BlueOval™ Charge Network significantly amplifies fast charging options for its customers. To express gratitude to its electric vehicle community, Ford offers the Fast Charging Adapter at no cost to both new and existing customers enrolled in the BlueOval™ Charge Network until June 30, 2024. This adapter is essential for charging at upgraded Tesla Superchargers, making Ford the first in the industry to offer such a perk.

To reserve your charging adapter follow these instructions:

F-150 Lightning and Mustang Mach-E retail customers can reserve an adapter via ford.com/FastChargingAdapter.

1. From the site, log in to Ford Pass. The Fast Charging Adapter Reservation will be the first tile within the Connected Service Home Page.

2. Click on the ‘Reserve your adapter at no cost’ button to start the ordering process

3. Your shipping information will be pre-populated based on your Ford Pass account, just verify that all the information is accurate, update if needed, and click ‘Reserve’.

4. And that’s it! From there you will get a confirmation screen with helpful information on a forthcoming automated over-the-air software update and a link to our FAQ Hub.

5. Additionally, you will receive confirmation email with a personalized link to check the status of your reservation

Customers who are not yet enrolled in BlueOval^™ Charge Network will be prompted to enroll before ordering their fast charging adapter. 

Customers who order the Fast Charging Adapter by June 30, 2024, are eligible for a complimentary unit. Additionally, future Ford EV owners can acquire the adapter directly from Ford for $230, simplifying the transition to fast charging capabilities.

Here’s a video from Ford showing how to locate chargers:

Ford Pro commercial customers will receive communication this spring regarding the ordering process for the adapter, ensuring seamless integration into their operations.

The BlueOval™ Charge Network streamlines the charging experience with a single stored payment account accessible through the FordPass App or Charge Assist App (soon to be "Public Charge") on the vehicle's touchscreen. Plug & Charge functionality, once activated, enables effortless charging at Tesla Superchargers, eliminating the hassle of onsite credit card transactions.

Looking ahead, Ford is committed to integrating the North American Charging Standard (NACS) connector into its next-generation electric vehicles, obviating the need for adapters to access Tesla Superchargers. This forward-thinking approach underscores Ford's dedication to enhancing the electric vehicle ecosystem.

Rivian is another EV manufacturer that will be gaining access to the Tesla Supercharger network in the coming weeks.

Are you on Reddit? Check out our subreddit at https://reddit.com/r/evcanada 

Fisker Faces Financial Strain: Layoffs and Uncertainty Loom as Cash Dwindles.

Fisker, finds itself in some financial troubles, with recent filings indicating a precarious cash position, the company braces for an uncertain year ahead, marked by cost-cutting measures and layoffs.

In response to the impending cash crunch, Fisker announced plans to reduce its workforce by 15%, part of a broader strategy to trim costs and attract new investments. Henrik Fisker, CEO of the company, acknowledges the challenging landscape, emphasizing the need for proactive measures to navigate through uncertain times.

Here is a quick summary of the Fisker news release:

Financial Performance:

Fisker reported preliminary total revenue of $200.1 million for Q4 2023, marking an increase of $128.3 million from Q3 2023. Full-year 2023 total revenue stood at $272.9 million, excluding $44.6 million of deferred revenue.

However, the company faced challenges in profitability, with a gross margin of -35% for Q4 2023 and an earnings per share loss of $1.23. The full-year earnings per share loss was $2.22.

Despite production challenges, Fisker Ocean production reached 4,789 units in Q4 2023, with 3,818 vehicles delivered. For the full year, 10,193 Fisker Oceans were produced, with 4,929 vehicles delivered.

Strategic Shift and Dealer Partner Model:

Fisker faced setbacks in its direct-to-consumer sales model and encountered unanticipated challenges, prompting a transition to a new Dealer Partner model announced in January 2024.

The Dealer Partner model has garnered significant interest, with over 250 indications of interest from dealers worldwide and 13 dealers signing dealer agreements. This model aims to improve sales execution and expand the company's footprint efficiently.

Financial Outlook and Liquidity Concerns:

Fisker's outlook for 2024 is conservative, with expectations to deliver approximately 20,000 – 22,000 Fisker Oceans worldwide and build sales momentum throughout the year.

The company faces liquidity concerns and acknowledges substantial doubt about its ability to continue as a going concern, pending successful transitions and additional financing.

To address liquidity issues, Fisker is in discussions with an existing noteholder for potential additional investment, aiming to support corporate purposes, vehicle production, and the transition to a dealer-focused sales model.

Forward-Looking Statements and Regulatory Compliance:

Fisker emphasizes the importance of forward-looking statements, highlighting risks and uncertainties, including limited operating history, potential manufacturing and supply constraints, and competition in the electric vehicle market.

The company expects to file its Annual Report on Form 10-K for the year ended December 31, 2023, by March 15, 2024, and emphasizes compliance with disclosure obligations and regulations.

Investor Relations and Communication:

Fisker provides contact information for investor relations and communications, underscoring transparency and engagement with stakeholders.

EV Around the World 🌏

Elon Musk talks 'Mind-Blowing' Tesla Roadster 2024.

Elon Musk, CEO of Tesla, recently announced via X.com (formerly Twitter) that the final design of the long-awaited second-generation Tesla Roadster is set to debut by the end of 2024. Musk promises unprecedented performance benchmarks, elevating the Roadster to a league of its own in the electric sports car arena.

With "radically increased design goals," this iconic vehicle is expected to accelerate from 0 to 100km/h in under one second. While details on optional thrusters remain undisclosed, enthusiasts can anticipate an adrenaline-fueled ride like never before.

Mate Rimac had this to say about a sub-second EV:

The Tesla Roadster 2024 is said to be a product of collaboration between Tesla and SpaceX. Musk hints at the possibility of groundbreaking features, fueling speculation about a potential launch event that could rival any product demonstration in history. With Musk's visionary approach, the Roadster promises to redefine automotive excellence.

Aptera Motors Unveils Latest Solar EV App, Battery Innovations, and Delivery Insights in February 2024 video update.

Co-founder Steve Fambro provides details about the upcoming Aptera app, revolutionary battery technology, and anticipated delivery schedules.

Aptera Motors stands out among OEMs for its relentless pursuit of bringing Solar EVs to the mainstream. As the only company actively pushing this innovative concept forward. Embracing transparency, Aptera consistently updates its growing fanbase and EV enthusiasts on its progress through monthly YouTube updates. Beyond these videos, Aptera provides glimpses into its production-intent build process, fostering a community of engaged followers eagerly anticipating each milestone. February update below:

In the latest update, Aptera unveils significant advancements across various fronts:

Aptera App: Gain control and monitor essential functions of your Solar EV from anywhere with the upcoming Aptera app. From managing HVAC settings to tracking solar power generation in real-time, Aptera empowers owners with unprecedented connectivity.

Revolutionary Battery Technology: Partnering with CTNS in South Korea, Aptera is poised to integrate cutting-edge battery packs into its Solar EVs. These energy-dense and safe battery solutions mark a significant leap in EV technology, promising enhanced performance and safety standards.

Body-in-Carbon (BinC) Design: Experience next-level safety with Aptera's innovative BinC design, set to debut at JEC World 2024 in Paris. Through simulated crash tests, Aptera showcases its commitment to passenger protection, with reinforced doors and structural battery packs.

Transparency and Delivery Insights: Aptera remains committed to transparency, providing updates on delivery timelines and production milestones. While additional capital is needed to reach full-scale production, Aptera reassures reservation holders with ongoing progress updates.

Do you enjoy one or all of the following?

• Learning about EVs?

• Deep dives on EVs and the EV industry as a whole?

• An email with character and humour?

• Someone else connecting the EV dots so you don’t have to?

Then The EV Universe if the place for you! Check it out below:

Polestar Secures External Funding, Confirms Business Outlook.

In a press release, Polestar, the Swedish electric performance car brand, fortifies its position with $950-million USD (~$1.3B CAD) in external funding, setting the stage for growth and achievement of 2025 targets. Geely Sweden Holdings pledges ongoing financial backing, ensuring Polestar's trajectory towards cash flow break-even by 2025. Here's a breakdown of the latest developments and future prospects:

Financial Boost: Backed by 12 international banks, Polestar secures a three-year loan facility, underscoring confidence in its growth strategy. With approximately USD 770 million (~$1B CAD) in cash reserves as of December 2023, Polestar is well-equipped to finance its next phase of development.

Strategic Partnership: Geely Holding Group reaffirms its commitment as a strategic partner and direct shareholder in Polestar. With access to Geely's technology and engineering expertise, Polestar is poised for global expansion and innovation-driven growth.

Efficiency Program: Polestar implements an efficiency program, optimizing operations and streamlining costs. Job cuts and operational enhancements contribute to the company's strengthened business plan, targeting cash flow break-even, annual volume surpassing 155,000 units, and a gross margin in the high teens by 2025.

Product Expansion: Polestar unveils two high-margin SUVs, enhancing its product portfolio and market presence. The Polestar 4 gains traction worldwide, while production of the Polestar 3 commences in China and South Carolina, USA. Prototyping for the progressive Polestar 5 accelerates, bolstering Polestar's position in the performance GT segment.

Shareholder Structure: A revamped shareholder structure reinforces Polestar's business development. Geely Sweden Holdings emerges as the second largest shareholder, with Volvo Cars retaining an 18% stake, signaling stability and strategic alignment for future growth.

Outlook: Anticipated volume growth and double-digit gross profit margin by year-end position Polestar for a strong performance in 2024. The rollout of the two SUVs is expected to drive volume and margin progression, with significant milestones projected for the second half of the year.

Polestar's latest funding milestone and strategic initiatives underscore its commitment to innovation, sustainability, and excellence in the electric vehicle market. As Polestar accelerates towards its 2025 targets, enthusiasts can anticipate groundbreaking advancements and unparalleled driving experiences from this pioneering brand.

The Rivian R2 is set to be unveiled on Thursday March 7th, 2024. It looks like some specs have been leaked:

Be sure to check out the R2 unveil at a Rivian Space near you or online:

QuickEV

• Tesla Cybertruck sold for $244,000 USD - who bought it?

• Aston Martin delays the launch of its first BEV.

• [VIDEO] Tesla Model 3 Owner Says New 2024 Highland Model 3 Isn't Worth The Upgrade.

• Audi is developing a unique sporty electric TT replacement.

• One of Tesla's Toughest Critics Just Rescued Three Tesla Roadsters.

• [VIDEO] Tesla Full Self-Driving V12 Get Pushed To And Past Its Limits.

• BYD slashes price on its best-selling SUV to compete with gas cars.

• Dodge Charger Daytona EV kicks off the electric muscle era.

EV Tweet of the Week