Roundup: The latest developments in EVs

Sony’s EV push is real: The first consumer electronics behemoth to throw its hat into the EV ring, Sony is approaching the EV opportunity as a component supplier and an EV maker.

• Sony expects to supply imaging sensors to 15 of the world’s top 20 global automakers by 2025, per Ars Technica. The company is leveraging its expertise in camera sensors for mobile phones for use in autonomous vehicles.
• Sony is also developing its Vision-S prototype EV and will work with Honda to develop a line of cars.

Volvo taps Unreal Engine for future EVs: The Volvo-Epic partnership will focus on improving EVs’ “human-machine interface” (HMI), which includes assistive technologies for the way car owners interact with their vehicle’s software, per The Verge.

• Epic will help build a platform on which the automaker’s engineers can design software that will improve the HMI while also maintaining levels of safety that Volvo has staked much of its reputation on.
• Epic’s Unreal Engine is a gaming and video tool for the creation of realistic 3D graphics. Its application in automotive interface design could yield more intuitive user interfaces that improve overall safety.

Rimac raises $536 million for EV pivot: The Croatian hypercar maker raised €500 million ($536 million) to secure its growth into global EV components, per TechCrunch.

• We’re now seeing automotive companies lean on certain areas of expertise to gain a foothold in the EV market.
• The funding will go toward building a $200 million campus in Croatia and hiring talent to help develop and produce batteries, software, and other components for EVs.

DeLorean is back for the EV future: The DeLorean Motor Company revealed a concept EV that sees the iconic ’80s DMC-12 reimagined for the electric age, per Insider.

• The Alpha5 seats four and brings back the familiar gull-wing doors. It will be powered by a 100 kWh battery and reach a top speed of 155 mph with a range of 300 miles.
• The prototype will be presented at Pebble Beach in August, with reservation and purchase details to follow. Expect nostalgic Gen Xers to be first in line for the futuristic DeLorean of their dreams.

Chevy discounts Bolt EV by $6,000: After being sidelined by a prolonged safety recall, the Chevy Bolt EV is reentering the market with a substantial price cut.

• Chevy’s 2023 Bolt lineup is dropping its starting price from $31,500 to $25,600 (before the $995 destination fee).
• This gives the Chevy Bolt a lower MSRP than the base model Nissan Leaf, though the Leaf still qualifies for the US federal EV incentive, whereas the Bolt does not. 
• This makes the Bolt EV the cheapest electric car in the US—if you don’t factor in the federal tax credits.

Wrap-up: EVs and their supporting infrastructure continue to see more investments.

• Not only are we seeing traditional carmakers launch EVs, there are also partnerships and new players looking to establish a foothold in the industry.
• We expect this trend to intensify as we move closer to EV sales targets and the impending transition to all-electric vehicles.