Waymo's valuation exceeds $45 billion, and Kia achieves a new sales high in the North American electric vehicle market | Overseas Daily

"Top 3 News"

Waymo's Current Valuation Reaches a Staggering $45 Billion

Key Points:

After receiving a new capital injection of $5.6 billion in the latest round, Waymo, the self-driving division of Alphabet, has reportedly surpassed a valuation of $45 billion. This round of financing was led by Alphabet, with the participation of external investors. With the expansion of its collaboration with Uber, this funding will assist the company in extending its Waymo-One self-driving taxi service to San Francisco, Los Angeles, Phoenix, and other locations, with a plan to offer more than 150,000 paid trips per week.

Waymo Self-Driving (Source: Electrek)

Opinions:

Waymo has always been a symbol of advancements in self-driving technology, despite encountering numerous setbacks and a series of public relations issues over the years. For instance, earlier this year, a Waymo self-driving taxi collided with a cyclist in San Francisco. Fortunately, the cyclist suffered only minor injuries. Nevertheless, Waymo's success is largely attributed to the financial support of its parent company, Alphabet. Waymo is part of Alphabet's "Other Bets" business portfolio, which also includes Verily, which reported $388 million in revenue in the third quarter. Alphabet also injected an additional $5 billion into Waymo in June this year, with plans to distribute it over the next few years. Waymo also plans to expand its business to new markets in Austin and Atlanta through a new collaboration with Uber. Its operational model is similar to that in cities like San Francisco, with no safety driver in the front. Waymo indicates that the company currently has an average of 100,000 paid trips per week, a tenfold increase compared to last year. The company has also initiated fully autonomous highway operations in Phoenix and San Francisco and is testing its system in Buffalo, New York, and Washington, D.C.

Surging Demand for Electric Vehicles: Kia Sets Another Record in US Sales in October

Key Points:

Kia Motors has once again shattered its sales record in the United States in October, continuing its strong sales momentum in the US market. According to the latest data, Kia sold a total of 69,908 vehicles last month, representing a 16% increase compared to the same period in 2023 and setting a new October sales record. This growth is primarily driven by the strong demand for its electric vehicles (EVs). Kia's electrified models (including pure electric vehicles, plug-in hybrid vehicles, and hybrid vehicles) reached an all-time high in sales in October. Among them, the sales of pure electric vehicles increased by 70% year-on-year, while the sales of plug-in hybrid vehicles and hybrid vehicles rose by 65% and 49%, respectively. Kia's first pure electric model, the EV6, set a new sales record in October, with 1,941 units sold, and the cumulative sales in the US market for the first ten months of this year have exceeded 17,700 units. Additionally, Kia's first three-row electric SUV, the EV9, has also performed well, with 1,941 units sold in October and a cumulative sales of 17,911 units, even surpassing the EV6, despite being $12,000 more expensive.

Kia EV9 (Source: Electrek)

Opinions:

Kia's EV9 is the first electric model produced at its West Point, Georgia plant in the United States. Although the EV9 is expected to receive a full $7,500 federal tax credit next year, Kia is currently matching this incentive in advance through promotional measures. Next year, Kia will also introduce the EV9 GT, an electric SUV that will come with a higher power configuration. The starting price of the 2025 Kia EV9 is $54,900 (excluding a $1,325 destination fee), only $700 more than the 2024 model. With the potential for the price to drop below $50,000, Kia's three-row electric SUV offers excellent value for money.

Polestar's First Polestar 3 SUV Made in the US Officially Delivered to North American Customers

Key Points:
The Swedish high-end electric performance car brand Polestar recently announced that the first Polestar 3 SUV manufactured in the United States has begun deliveries to customers in the North American market. Over the past few weeks, deliveries of the Polestar 3 have commenced in the United States and Canada, and now units produced at the factory in South Carolina have also started to be delivered.

Polestar 3 SUV (Source: Electriccarsreport)

Opinions:

The Polestar 3 SUV plays a crucial role in the electric era. As the Polestar brand expands from a single model to a three-model brand including the Polestar 2, Polestar 3, and Polestar 4, the Polestar 3 is essential for the continuous development of the brand. Anders Gustafsson, Head of Polestar North America, stated: "From our retail partners to our employees, I am extremely proud and excited about the delivery of the US-made Polestar 3 to customers. The Polestar 3 plays a key role in our brand's expanding product line, proudly assembled in South Carolina as an SUV designed for the North American market and now being delivered to North American customers." The Polestar 3 will accelerate deliveries in the United States and Canada in the coming weeks. Highly praised by automotive media, customer interest in the Polestar 3 remains high, and local test drives of the Polestar 3 are available at Polestar Spaces. With the deliveries of the Polestar 3 in Montreal, Toronto, and Vancouver in Canada, these three cities, which account for over 90% of the electric vehicle market in Canada, the deliveries of the Polestar 3 are ongoing.

"Major Events"

European Logistics Giant DFDS Launches Volvo Electric Semi-Trailer Fleet, with the First 10 Vehicles in Operation

The European logistics company DFDS ordered 100 long-range electric semi-trailers from Volvo this year. Last week, they put the first 10 on the roads in the northwest of England and Ireland. Since 2022, DFDS has been continuously expanding its electric semi-trailer fleet and has already operated dozens of zero-emission tractors in countries such as Sweden, Denmark, Lithuania, Belgium, Germany, and the Netherlands. Once the 100-vehicle order with Volvo Trucks is completed, DFDS's electric semi-trailer fleet will almost double to 225 vehicles, making it the largest electric semi-trailer fleet in Europe.

European Logistics Giant DFDS Fleet (Source: Electrek)

Allan Bell, Vice President of Logistics for DFDS UK and Ireland, said: "With our extensive experience in operating electric trucks in Europe, we are ready to bring this expertise to the UK. There is a significant interest from UK companies in more sustainable road transport solutions, and we are ambitious to expand our low-emission transport services in the future." Up to now, DFDS has deployed 115 electric trucks, adding more than 1.2 million all-electric miles to the Volvo Trucks' total mileage in the first half of 2024 alone. The company stated that this achievement has saved more than 2,100 tons of harmful carbon emissions compared to a conventional diesel fleet. Volvo Trucks' latest version of the FH Electric Semi-Trailer offers customers up to 600 kilometers (nearly 375 miles) of all-electric range, almost double that of the previous version, thanks to Volvo's new compact e-axle packaging. This additional range is not only another blow to diesel but also a game-changer for companies like DFDS, although further efforts are still needed. Bell added: "We still face challenges and need cross-industry collaboration to succeed, such as in establishing charging infrastructure. DFDS is committed to doing everything we can to drive progress."

Oxa Launches Ford E-Transit Electric Vans and Minibuses Equipped with Autonomous Driving Technology

The autonomous driving software company Oxa has put its fully electric Ford E-Transit vans and minibuses on the roads in the UK and the US, while Tesla is still envisioning a utopia of autonomous driving vans and minibuses in the future. Paul Reynolds, Vice President of Oxa, stated on LinkedIn that if autonomous driving vans are a good idea in five years, then it is a good idea today. Oxa claims that its autonomous driving vans are ready to fulfill this promise.

Oxa Autonomous Driving Van (Source: Electrek)

The autonomous driving hardware of Oxa is designed to be installed tightly on the exterior of the popular Ford E-Transit commercial van without encroaching on the interior space of the van. This means that fleets can integrate the autonomous driving vans into their existing fleets without the need to redesign existing equipment solutions, which is a crucial part of the overall puzzle for fleet managers. In addition, the Oxa-powered Ford E-Transit autonomous vans can be configured to do everything that a traditional internal combustion engine Transit van can do, including logistics (delivery vans), industries (work vans), and passenger/shuttle services (offering up to 10 seats in the passenger E-Transit model, which is not yet available in the US).

Gavin Jackson, CEO of Oxa, explained: "Making the Ford E-Transit available for autonomous driving operations is the next step in our journey to provide safe, scalable, and sustainable autonomous driving solutions." "This vehicle represents an important milestone in our mission to reshape the future of passenger transportation and logistics." The Oxa E-Transit autonomous van is equipped with a full suite of sensing equipment, including high-definition cameras, lidar, and radar sensors, capable of "sensing the road". The Oxa hardware sends 360-degree perception and long-range detection to the system processor, enabling autonomous driving operations to be carried out at an electronically limited top speed of 35 miles per hour in mixed traffic. The manual control of the Transit is also fully retained to enable a seamless transition to manual operation in adverse/marginal situations.

China's JAC Automobile Delivers 100 MD Electric Trucks to North America

JAC Electric Truck (Source: Electrek)

The Chinese electric truck manufacturer JAC Automobile (JAC) has exported 100 MD electric trucks (cab and chassis) to a customer in Mexico, marking an important milestone in its expansion plan in the North American market. Mexico, as the 13th largest automotive market in the world, attracts many international automakers, including Chinese brands, due to its proximity to the United States and lower labor costs. This is especially true for the electric vehicle market in Mexico, where companies like BYD and JAC are seeking to become global players. Shirley Wagner, President of the Electric Mobility Association of Mexico (EMA), calls for the sharing of best international practices to promote the development of electric mobility and bring its benefits to all Mexican cities, with the goal of achieving 100% electrification by 2035 and reducing automotive carbon emissions in Mexico.

Chevrolet Silverado EV Equipped with New 'Sidewinder' Four-Wheel Steering Technology

Chevrolet Silverado EV has introduced a new four-wheel steering technology called "Sidewinder" in its 2025 RST model, joining the competition among electric vehicle brands in the naming game of four-wheel steering technologies. Sidewinder allows all four wheels to turn in the same direction, enabling the truck to move diagonally at a top speed of 20 miles per hour. Chevrolet states that this new feature can be selected from the infotainment screen, providing drivers with a new way to conquer various challenges from rough terrain to compact parking spaces.

Chevrolet Silverado EV (Source: Electrek)

The Sidewinder mode is activated by a series of clicks in the "Rear Wheel Steering" section of the infotainment screen of the Chevrolet Silverado EV RST and even triggers a unique animation on the dashboard to create an atmosphere and remind the driver that the vehicle is about to move laterally, but this is intentional. The Silverado EV RST model joins the fleet-focused 400+-mile range Silverado EV WT and LT models, which are currently available at Chevrolet dealerships. The RST model offers two different battery pack options with a maximum estimated range of up to 460 miles. This range, combined with the Silverado's 12,500-pound towing capacity and 1,800-pound payload, is something that General Motors executives are very proud of. James Hodge, Director of the Chevrolet Canada brand, said: "Truck customers tell us that range is one of the main barriers to considering an electric vehicle. The 2024 Silverado EV is already a leader in range, and for this new model year, we have raised the bar. This increased capability and accessibility is good news for the segment, the industry, and the brand."

"Cool Products"

The Birth of the Strongest Abarth in History: Fiat Abarth 600e Scorpionissima

The most powerful model in the history of the Abarth brand - the 600e Scorpionissima electric version - has recently announced an increase of 40 horsepower in the power of its front electric motor, reaching 280 horsepower. This electric hot hatchback, developed with a unique electric motor based on the Formula E test bench, transmits power to Michelin Pilot Sport EV tires through a JTEKT mechanical limited-slip differential, providing sufficient grip, enabling this Italian small hatchback to accelerate from 0 to 100 kilometers per hour in