While legacy auto-makers General Motors (NYSE: GM), Ford Motor (NYSE: F) and Stellantis N.V. (NYSE: STLA) are facing an unprecedented UAW strike, the EV king, Tesla Inc (NASDAQ: TSLA) is reportedly close to a manufacturing breakthrough.
Along with famously not having a unionized workforce, Tesla also enjoyed a 7% rise of its stock since the beginning of September, ending last week 3.9% up to $274.39, and rising more than 150% year to date. Meanwhile, the legendary German automaker BMW (OTC: BMWYY) revealed that its most iconic high-performance car is getting its electric version.
While the Big Three automakers, General Motors, Ford and Stellantis aren't making much progress with their negotiations, Tesla and BMW are confidently marching towards their EV goals.
Tesla's Manufacturing Breakthrough
According to Reuters, Tesla is getting closer to a revolutionizing EV making through employing a die-casting technique that create nearly the entire underbody of an EV as a single unit as opposed to roughly 400 components required for the conventional method.
According to Terry Woychowski of Caresoft Global, this manufacturing development could literally act as a steroid for the EV industry, but it is considered as a daunting task. Reuters also quoted unnamed sources who stated that with this technique, Tesla would be able to shorted its EV manufacturing time span that is usually three to four years to only 18 to 24 months. One thing is certain, if Tesla can pull this off, its rivals will have an even harder time trying to catch up.
BMW's Big News
BMW product development chief, Frank Weber, confirmed the rumors of the first electric BMW M3 sports sedan, during a roundtable interview in Portugal. Carsales.com.au reported that at the global launch of the BMW i5, Weber announced that the first electric BMW M3 will be coming off BMW's next-gen Neue Klasse platform around 2027. Earlier this month, BMW offered a glimpse of its high-tech future through its "Vision Neue Klasse", with the name being an ode to brand's 1960s sporty cars that helped build the BMW brand.
Earlier this year, BMW already revealed its most powerful and fastest EV, the i7 M70 xDrive electric sedan and it also teased a quad-motor i4 electric model, but Neue Klasse that is due in 2025 is taking EVs to another level with a 30% increase in range, 20% faster charging, and a 25% increase in vehicle efficiency. The electric M3 is expected to launch shortly after the start of production of the Neue Klasse.
As BMW marches towards its goal to make its Mini brand fully electric by the end of the decade, it will also be investing £600 million (about $743 million) into its UK manufacturing facilities as the Mini brand is in for two EVs, the Mini Cooper 3 door and crossover Mini Aceman that are scheduled for 2026 at the Oxford manufacturing plant that will be committed solely to EV production by the end of the decade, with most of the vehicles being for international markets. Unlike Ford who added hybrids to its strategy, BMW is showing its commitment to electrifying its offerings.
While the Big Three automakers, Ford, General Motors and Stellantis, deal with an unprecedented strike, Tesla and BMW are confidently marching ahead to their all-electric future.
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