Sup. This is Plugged In. Serving EV news sunny side up.

Here’s what we’ve got for you today:

• OpenAI Invests in Self-Driving 🚗

• Lucid Cuts Production Forecast As Losses Continue 📉

• Study Reveals Effects of Fast Charging on EV Batteries ⚡️

OPENAI INVESTS IN SELF-DRIVING 🚗

Big news coming out of San Francisco!

Ghost Autonomy, the cool cats of car software, just bagged $5 million from OpenAI's piggy bank.

Why?

To pump up their brainy car tech with these nifty things called multi-modal large language models (MLLMs). It's like giving cars a crash course in understanding the world. Without the crashing part. Hopefully.

Now, you might be thinking... what in the hell is an MLLM?

We just figured out what LLM's are... and now there's another M? Ughh.

Well. Let's figure it out:

What is an MLLM?

These MLLMs are a big deal. They're like a super-smart GPS that not only knows where you're going but also gets why that squirrel darted across the road.

Imagine you've got two friends. I know. Hard to imagine.

The LLM friend... let's call him Text-Tom. A whiz with words. Give him a book, a tweet, or a mysterious ancient manuscript, and he'll read it, write it, or chat about it like a champ.

Then, there's Multi-Modal Mike. The MLLM friend. Mike's a bit of a show-off.

Not only does he juggle words like Tom, but he's also into pictures, sounds, and even videos. A jack-of-all-trades in the data world.

So now you know the difference... what's the goal with using MLLMs?

Simply put... To make self-driving cars smarter than your average bear at handling all those weird things that happen on the road.

The head honcho at Ghost Autonomy, John Hayes, is charged up about making everyday cars brainier. They're not dreaming about this stuff. They're testing it on real cars, right now.

Plus, they're buddying up with carmakers to make sure future cars are not just cars, but supercars. Super in the brain department, not the 'go really fast' department. 

The big takeaway?

We’re closer to a future where your car, or any car, has the smarts to be a robotaxi.

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LUCID CUTS PRODUCTION FORECAST AS LOSSES CONTINUE 📉

Lucid Motors just dropped their latest money report.

And, oh boy…

It's like watching someone try to save a sinking ship with a teacup.

Their Q3 earnings are kind of like my attempts at cooking - not what they hoped for. They made like $137.8 million, but Wall Street was expecting a cool $183.8 million. Oops.

But hey, not all doom and gloom!

They lost less money per share than expected.

Which is like celebrating because you only burned half your toast. They're still in the game with a hefty $5.45 billion to keep the lights on till 2025.

Now, the plot twist.

They only planned to make up to 14,000 fancy electric cars this year.

Plot twist again – they're now aiming for just 8,000 to 8,500. They made over 6,000 but sold way less. Classic case of more hats than heads.

Despite this rollercoaster, they're pushing on.

They've got this new Air Sapphire model and launched the Lucid Air Pure RWD. Plus, they're teasing us with the Lucid Gravity, an electric SUV set to wow us at the LA Auto Show.

Lucid's big cheese, Peter Rawlinson, is like, "We've done some cool stuff, but yeah, still figuring out how to get these cars to more driveways." They're eyeing late 2024 to start pumping out the Gravity.

STUDY REVEALS EFFECTS OF FAST CHARGING ON EV BATTERIES ⚡️

There's an urban legend around fast charging.

The legend is that if you fast charge your electric car too much, you might as well start saving for a new battery.

But is this another story like the one about alligators in the sewers?

The brainiacs at Recurrent Auto, aka electric car battery detectives, decided to investigate.

They looked at cars that almost always fast charge versus those that barely do.

Their verdict?

No big difference in how the battery ages.

But just like you shouldn't eat chocolate for every meal (tempting, I know), there are some times when fast charging isn't great for your battery.

Like when it's super hot or cold outside. Your car's battery prefers a bit of pampering in extreme weather. Like a pre-heat or pre-cool, before gulping down electricity.

Your battery might also cry "Please, I can't handle anymore!" if you try to fast-charge when it's almost full or almost empty. It's a bit more sensitive then.

The cool part?

Most electric cars are smart enough to slow down the fast charging when the battery is getting too full.

So myth busted. Fast charge when you need. And remember, your car's battery has feelings too.

Stay plugged in and take care of your electric buddies!

THE JUICE 🔋

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Global EV Sales Hit Record of 1.3 Million in September 2023

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.