Today’s car news: Fisker goes bankrupt, Volvo S60 Recharge project scrapped, Kia EV3 updates

Introduction: In the world of green cars, there have been some recent developments that are worth discussing. From Volvo discontinuing its high-mpg hybrid to Kia potentially considering Mexico as the assembly location for its upcoming affordable electric vehicle, the landscape of electric and hybrid vehicles is constantly evolving. Additionally, the unfortunate news of Fisker filing for bankruptcy for the second time sheds light on the challenges faced by EV startups. Furthermore, the question of why Americans do not drive their electric vehicles as much as in other parts of the world is a topic of interest. Let’s delve deeper into these topics in the following sections:

Fisker Files for Bankruptcy Again
The American EV startup Fisker has faced financial troubles once again, leading to the company filing for bankruptcy. Despite investing in an “asset-light” model and contract manufacturing, Fisker was unable to secure enough new investment to restart production of its Ocean electric crossover. This marks the second time that a Fisker automaker has gone bankrupt, highlighting the challenges faced by electric vehicle startups in the competitive automotive industry.

Volvo to Discontinue S60 Recharge Hybrid
Volvo’s highest-mileage plug-in hybrid, the S60 Recharge, will be phased out after the 2025 model year. This decision comes as Volvo previously announced its plans to discontinue gasoline models from the South Carolina plant where the S60 is produced. While Volvo has ruled out importing the S60, the fate of the V60 wagon variants remains uncertain. This move reflects Volvo’s shifting focus towards electrification and its commitment to producing more electric vehicles in the future.

Kia Considers Mexico for Affordable EV Production
Kia is reportedly considering Mexico as the assembly location for its upcoming Kia EV3 electric SUV. By producing the compact EV in Mexico, Kia aims to make it more accessible to consumers with a target price of $30,000 and eligibility for EV tax credits. While this potential move is not yet confirmed, it indicates Kia’s efforts to expand its electric vehicle lineup and offer more affordable options to customers in the U.S. market.

Why Americans Drive EVs Less Than Other Countries
In the United States, electric vehicles are driven fewer miles annually compared to gasoline models, including hybrids. This trend contrasts with other parts of the world where EV drivers tend to drive more miles. The reasons behind Americans’ reluctance to drive their electric vehicles more frequently remain unclear. Factors such as charging infrastructure, range anxiety, and cultural preferences likely play a role in shaping the driving habits of EV owners in the U.S.

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