2023 Fisker Ocean One Sport Utility 4d on 2040-cars

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EV startups are about to report another quarter of fierce cash burn

U.S. electric-vehicle startups are expected to report another quarter of dwindling cash reserves next week, piling pressure on a group of companies that are struggling to ramp up production and have few options for funding in a turbulent economy. Having gone public with hopes of shaking up the automobile industry, these companies have seen their market valuations evaporate in the past few months as EV demand slows and market leader Tesla Inc cuts prices to stoke orders. Lucid Group kicks off first-quarter earnings for the group on Monday, with the company expected to report a 36% sequential slide in cash reserves, according to Visible Alpha. Rivian Automotive, meanwhile, will likely report on Tuesday that its cash balance fell by 6.8% to $10.78 billion from the preceding quarter, per a Visible Alpha estimate. The Amazon.com Inc-backed firm, whose shares have declined by nearly a quarter this year, is also expected to report a larger loss of $1.75 billion as both deliveries and production fell in the period. It posted a $1.59 billion loss a year ago. Fisker Inc and Nikola, both of which report earnings on Tuesday, are expected to see their cash reserves decline by 5% and 15%, respectively, according to Visible Alpha. "Any company that's losing money with a low valuation is toast and EVs are no exception. I think it is just a slow bleed. Maybe they'll get lucky and some of their technologies maybe bought by bigger players," said Thomas Hayes, chairman of hedge fund Great Hill Capital. A drop in valuations of companies has rendered selling equity for precious cash more ineffective and investors are becoming increasingly unhappy with their stake being diluted as several startups are yet to recognize revenue from operations. British EV startup Arrival SA and Nikola have issued going-concern warnings in the past few months, with the former set to merge with blank-check firm Kensington Capital Acquisition Corp in a bid to raise cash. Lordstown Motors said this week it could be forced to file for bankruptcy due to uncertainty over a funding deal with major shareholder Foxconn. Its earnings in an unscheduled release on Thursday showed Lordstown's cash balance fell 11% sequentially. Some of the companies including Lucid and Rivian have also said they would not provide data on reservation numbers going forward, sparking some concern among investors. It is a "disturbing development," CFRA Research analyst Garrett Nelson said.

2018 Chrysler Pacifica Hybrid Long-term Review | Introducing something green

BIRMINGHAM, Mich. — I'm stoked to drive this minivan. Legitimately. The 2018 Chrysler Pacifica hybrid is an impressive evolution of the minivan and a smart execution of electric technology. Why hasn't someone made a hybrid minivan until now? I ponder this as I unplug the charger and take my first spin in the Pacifica, the newest addition to the Autoblog long-term fleet. Sinking into the leather seats, I'm immediately relaxed. That's why you buy a minivan: comfort and convenience. Hybrid tech? Well that makes this thing sustainable and even cool. Whether your friends are swanky or wonky, play the plug-in hybrid card and your people hauler is cooler than theirs. What we got We went with the Pacifica Hybrid Limited. It starts at $44,995 and wears a beautiful shade of Ocean Blue. The interior features black and alloy pieces and leather. Power comes from the sturdy 3.6-liter Pentastar V6 dubbed the eHybrid for this application, and it works with an eFlite electrically variable transmission home to two motors making 84 and 114 hp. The hybrid battery pack has 96 lithium-ion cells that generate 16 kWh of energy. The net system power is 260 horsepower. In real-world driving, it's quick, torquey and more fun to drive than the average minivan. It can charge in two hours using a Level 2 charger and offers 33 miles of range on pure electricity. Collectively, it puts out 84 MPGe, and using just the Pentastar it's still rated at a robust 32 mpg in combined city and highway driving conditions. The Limited is the top-of-the line Pacifica trim, offering heated and vented front seats, an 8.4-inch Uconnect touchscreen and 13 Alpine speakers as standard equipment. We added a safety and tech package ($995) that includes parking assist, a 360-degree surround view camera, lane departure warning, adaptive cruise control, seatback video screens and a Blu-ray DVD player. We also ticked the box for the hybrid appearance package ($395) to add 18-inch polished aluminum wheels, body color treatments for the mirrors and door handles, and a "Black Spear Applique" for the rear fascia. It's not worth your money. We topped it off with the $1,595 tri-pane sunroof, which is totally worth your money. Final cost including destination: $49,325. It's reasonable, considering the level of luxury the Limited offers, and as we all know, hybrid tech isn't cheap. If you can get the $7,500 federal tax credit the government offers on electrics, it's a great value.

Fisker Pear electric hatchback revealed in more detail

Just a few weeks ago, Fisker showed off the future of its electric lineup at its "Product Vision Day." Among the highlights was the new compact Fisker Pear, which is intended to arrive with a sub-$30,000 price point and be an affordable alternative to the likes of the Chevy Bolt (currently on hiatus) and Nissan Leaf. While the Pear isn't quite ready for prime time, Fisker has shared a host of photos to accompany a few new details about this budget-friendly EV.  We now know the Pear will measure approximately 15 feet long (4550mm) and will be offered in both five- and six-seater configurations, further enhancing what already promises to be a flexible and utilitarian platform. The cargo section is referred to as the Pear's "Houdini trunk," which allows access to the hatch area in tight nose-to-tail parking situations or low ceiling heights thanks to a rear glass section that opens downward into the rear load floor, rather than swinging up and out like a normal hatch. Fisker also hopes to launch the Pear with exterior camera mirrors, but those are still under review due to regulatory requirements. And then there's the "froot." Think frunk, only British — or vegetarian. It's a sealed front storage compartment intended to store things that should be isolated from the cabin, like sweaty workout gear or pungent leftovers. Fisker says it will even offer an insulated option for storing temperature-sensitive items. Gig drivers, take note. The cabin itself is "designed to be extremely durable, with no fragile moving parts." Fisker calls it a boon for families and ride-share drivers, but there's also an upside for the manufacturer that consequently doesn't have to bother with expensive physical controls.  Fisker says the Pear will also have a "Lounge Mode" that allows all of the seats to fold completely flat to create a relaxation or sleeping area along with a rotating, 17-inch screen to provide entertainment while you're stretched out. The six-seater option replaces the single front passenger seat and center console with a large two-seat bench.  Fisker also appears close to finalizing the Pear's electric range. Previously, the company said it was hoping to deliver up to 310 miles on the EPA test cycle. Fisker has revised that up to 320 miles on the high end. In addition, it's offering a target for the smaller, city-oriented battery pack that is expected to come standard at the Pear's $29,990 starting price.