Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Tuesday 30th April 2019. It’s Martyn Lee here and I’ve been through every EV story I could find today to save you time.
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GENERAL MOTORS CONFIRMS ELECTRIC PICKUP TRUCK IS COMING
“General Motors CEO Mary Barra has just confirmed that the automaker is indeed readying an electric pickup truck to compete with the likes of the electric Ford F-150 and Rivian R1T.” reports InsideEVs today: ” As Barra stated, electric “full-size pickups” are indeed in the future plans for the automaker. No further details were provided. Therefore, we don’t even know if the electric truck will be a Chevrolet, GMC or other make. It’s all up in the air at the moment, aside from full confirmation that an electric truck is in the works. These surely are interesting times for electric vehicles and, more specifically, electric pickup trucks. We’re now just around the corner from the launch of not one, but several all-new electric trucks.”
EV MAKER FARADAY FUTURE SAYS IT PROCURED AN ADDITIONAL $225 MILLION IN FINANCING
“Embattled electric vehicle (EV) maker Faraday Future has received another lifeline in the wake of a dispute with Chinese real estate giant Evergrande—one of the startup’s major investors.” according to TechNode today: “Faraday announced on Monday that it had received $225 million in bridge financing ahead of the company completing a $1.25 billion capital raise, which it expects to close this year. The latest financing, led by US-based asset management firm Birch Lake Associates, is aimed at helping to bring Faraday’s flagship FF91 SUV to market.”
Meanwhile Engadget reports: “”As part of the vendor program, Birch Lake has also provided financing to FF for the company to pay all past due amounts for approximately 60 percent of FF’s vendor base, including smaller vendors who are owed less than $20,000,” the company wrote. Meanwhile, larger suppliers will be able to exchange unsecured debt for “trust interests” that will include a repayment schedule. To secure the financing, Faraday said it valued its intellectual property at $1.25 billion. The company plans to use The9’s cash to build the V9 EV, a version of the Faraday FF91 for the Chinese market. It has promised to build 300,000 of the EVs per year by 2020, and said it has a growing fleet of FF91 pre-production test vehicles.”
TESLA POWERWALLS REPLACE CONVENTIONAL METERS IN VT WITH ‘BATTERY-AS-A-METER’ SOLUTION
“Tesla Energy is taking part in a Vermont utility company’s efforts to push its customers towards sustainable energy solutions. Dubbed as the Resilient Home program, the initiative aims to bring Tesla Powerwalls to an initial 250 homes, all of which will be using the battery storage unit as backup power and as a replacement electric meter.” writes Simon Alvarez for Teslarati “The program is being launched by Vermont-based Green Mountain Power, which prides itself for being one of the most climate-conscious utility companies in the United States. Customers who are part of the Resilient Home pilot will be able to acquire two Tesla Powerwall 2 units for $30 a month or a $3,000 upfront fee. Apart from allowing customers to get more benefits from wind and solar and providing backup power during outages, the Powerwall 2 units will also be measuring customers’ energy use, effectively replacing conventional meters.”
Green Mountain Power CEO Mary Powell stated: “Our vision — our dream — is that there ends up being a battery in every home and business,”
RAC TO ADD EMERGENCY ELECTRIC CAR CHARGING MOBILE UNITS
“RAC patrol vans will soon get portable electric car chargers to help vehicles that run out of battery at the roadside. The system, which was developed by the RAC and partner firm Original Ltd, is designed to give stranded electric vehicles (EVs) a “top up” that allows them to reach the nearest charging point. The “lightweight” EV Boost chargers can take power from a standard Euro 6 diesel patrol van and work with all Type 1 and Type 2 charging connectors. This, the RAC claims, allows the chargers to work with “99 percent of electric vehicles on UK roads today”.