Northvolt files for bankruptcy, CEO resigns.

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In today’s edition:

• Swedish battery maker Northvolt files for bankruptcy

• Lotus reverses EV-only plans

• Hyundai IONIQ 9’s First Tour & more.

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Swedish battery maker Northvolt files for bankruptcy

Swedish EV battery maker Northvolt, once a beacon of Europe’s ambitions to rival Asian dominance, has filed for Chapter 11 bankruptcy in the U.S. Burdened by $5.8 billion in debt and dwindling cash reserves, the company secured $245 million in financing to continue limited operations during restructuring but faces a precarious path ahead. CEO Peter Carlsson resigned amid the turmoil, and production delays led to the loss of key clients like BMW. Northvolt’s struggles highlight the steep challenges European firms face in competing with Chinese battery giants, which control 85% of the global market.

Lotus reverses EV-only plans and opts for hybrids by 2028

British automaker Lotus, owned by Geely, has announced a pivot from an all-electric strategy, focusing instead on hybrid and extended-range EVs by 2028. At the Guangzhou Motor Show, CEO Feng Qingfeng revealed a new “super hybrid” system featuring a turbocharged engine and 900V fast-charging technology for a 680-mile range. The shift targets luxury models like the Eletre SUV and Emeya sedan, addressing slower-than-expected EV adoption in key markets while maintaining Lotus’s performance heritage.

Will Jaguar say no to rear windows?

Jaguar’s upcoming EV concept, debuting December 2, ditches traditional design with no rear window and no visible taillights. Instead, a sleek panel hints at futuristic features like rear-facing cameras or an unconventional hatch. Teased proportions suggest a Taycan-like stance, merging performance and elegance. Set to influence Jaguar’s first fully electric production car in 2025, this bold concept underscores the brand’s commitment to redefining EV design and making a statement in the competitive electric market.

Chrysler Pacifica goes electric with futuristic design

Chrysler has confirmed the Pacifica minivan’s electric transition, debuting in 2026 with a modern refresh inspired by the Halcyon concept. Retaining its iconic name, the electric Pacifica will feature reimagined interiors, including improved Stow ’N Go seating and adaptable cargo solutions tailored for families and adventurers. With a focus on blending innovation and practicality, Chrysler aims to redefine the minivan for the electric era while maintaining its beloved legacy.

Is LAXcar ready to go electric? Here's why it might be the smart move

As sustainability takes center stage, LAXcar faces a pivotal decision: should it embrace EVs? With advancements in battery tech, faster charging, and expanding infrastructure, electric vehicles are reshaping logistics. Financial incentives and lower operational costs add to their appeal, while stricter emissions regulations and eco-conscious consumers push companies to adapt. Though challenges like high upfront costs and charging availability persist, the shift to EVs seems less like a choice and more like an inevitable step forward for companies aiming to lead in a greener future.

EV battery prices could drop 50% by 2026, report says

A Goldman Sachs report predicts that EV battery prices could drop by 50% by 2026, falling from $149 per kilowatt-hour in 2023 to $80 per kWh. This significant decrease is driven by advancements in battery technology, such as larger cells and cell-to-pack designs, and declining costs of raw materials like lithium, cobalt, and nickel. Lower battery costs are expected to make EVs more affordable, pushing them past price parity with gasoline vehicles and accelerating adoption. By 2030, EVs could account for 50% of the U.S. automotive market, reshaping the industry and advancing sustainability goals.