Volvo cancels its highest-mpg hybrid. Kia might be thinking Mexico for its upcoming affordable EV. FIsker has gone belly up on the Ocean. And why don’t Americans drive their EVs more? This and more, here at DriftBreath Reports.
The American EV startup automaker Fisker filed for bankruptcy Monday after it failed to gather enough new investment to get production of its Ocean electric crossover going again. It’s possible that its liabilities have already neared its total assets, as Fisker has followed an “asset-light” model that involved contract manufacturing. And yes, this is the second time a Fisker automaker has gone bankrupt.
The Volvo S60 Recharge is the highest-mileage plug-in hybrid in Volvo’s lineup—by electric miles or mpg—and it’s going away after the 2025 model year. While Volvo confirmed several years ago that gasoline models would be dropped from the South Carolina plant where it’s built, Volvo on Monday ruled out making the S60 an import. It’s unclear, as of yet, where the V60 wagon variants stand.
According to a report citing inside sources, Kia is considering Mexico as the assembly location for its upcoming Kia EV3 electric SUV—so the compact EV might reach the U.S. market with a price as low as $30,000 and EV tax credit eligibility. But it’s no done deal as of yet.
In the U.S., EVs are driven fewer miles annually than gasoline models, including hybrids. It’s not that way elsewhere in the world, where EV drivers tend to drive more. Why is the U.S. the outlier?
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