February 2022 - Page 2 of 2 - Green Car Stocks

FridayFeb 11, 2022 9:30 am

84% of January Car Sales in Norway Were Electric Vehicles

The popularity of electric vehicles (“EVs”) in Norway has led to a huge demand for EVs. In January, electric vehicles accounted for 83.7% of all car sales within the country. This is up from 53% as recorded in January 2021, and it breaks the 77% record set in September 2021. Official numbers also state that for every 20 vehicles sold, 19 came with a cable. The surge in demand comes at a time when sales of passenger cars are dwindling. The number of newly registered passenger vehicles recorded was 7,957, depicting a 2,344 drop when compared to January last year.…

ThursdayFeb 10, 2022 9:30 am

Consumers Happy with Tesla Inc. (NASDAQ: TSLA), Ford Motor Co. (NYSE: F) and Kia Corp. (KIMTF) EVs, Survey Reveals

A survey conducted by JD Power on customer satisfaction among first-time electric vehicle (“EV”) owners revealed Tesla (NASDAQ: TSLA), Ford (NYSE: F) and Kia (OTC: KIMTF) were their top choices. EV technology has been present for a while; however, its adoption has been faced with a couple of concerns from the U.S. consumers. Some of the limitations include the cost, lack of charging infrastructure, the fear of new technology and range anxiety. Despite these barriers, first-time buyers have a positive ownership experience and are proving that the transition is worth it as revealed in the U.S. Electric Vehicle Experience Ownership…

WednesdayFeb 09, 2022 9:30 am

EVs Shine at Washington Auto Show as Efforts to Decarbonize Gain Momentum

For the first time since its inception 15 years ago, the Washington DC Auto Show dedicated a whole pavilion to electric vehicles (“EVs”). Despite recording a low attendance due to COVID-19, attendees were able to see the electric vehicles on display. Some of the exhibitors included Polestar, Nissan, Hyundai, Bentley and McLaren. The Arcimoto created a buzz having a long line of attendees waiting to have a ride in it. As for the show’s main attraction, the all electric Ford F-150 had remarkable specs to it. It weighs around 10,000 pounds and can change its speed from 0 to 60…

TuesdayFeb 08, 2022 9:30 am

China’s Pandemic-Related Restrictions Are Hurting EV Sector, Says Automaker

The containment measures put in place by the Chinese government have had a significant effect on its electric vehicle (“EV”) sector. According to Freeman Shen, CEO of WM Motor, his company has had to shoulder an increased cost of production while dealing with battery and chip shortages and supply chain issues. Despite the industry evolving quickly, he stated that production costs were the biggest challenge. Interest in both hybrid-powered and battery-only energy vehicles in China has grown over the years. With sales of more than 3.3 million units in 2021, the country became the largest market for electric vehicles in…

MondayFeb 07, 2022 9:30 am

Study Finds EVs Involved in Few Fires

According to a new study conducted by AutoInsuranceEZ, electric vehicles (“EVs”) were involved in few automobile fires when compared to hybrid vehicles and fossil-fueled cars. The researchers used data on car fires and compared that data to the information available regarding the number of vehicles bought in the United States. Relying on statistics provided by the Bureau of Transportation Statistics (car sales data) and the National Transportation Safety Board (car fires registered), the AutoInsuranceEZ analysts found that for every 100,000 hybrid cars sold, there were approximately 3,475 fire incidents reported while for every 100,000 fossil-fueled vehicles sold, approximately 1,530 fire…

FridayFeb 04, 2022 9:30 am

General Motors Co. (NYSE: GM) Announces $6.6B Injection into Michigan EV Plant

California-based electric vehicle (“EV”) maker Tesla (NASDAQ: TSLA) will soon be facing major competition from General Motors (NYSE: GM) after the automaker announced that it would invest billions of dollars into building an electric vehicle and battery manufacturing plant in Michigan, the state it calls home. General Motors wants to invest $6.6 billion by 2024 to speed up the development of electrified pickup trucks as well as install a new plant to build EV battery cells for its electric cars. According to the automaker, the investment is just part of the company’s plan to step up its production capacity in…

ThursdayFeb 03, 2022 11:01 am

Massachusetts Startup Giving Used EV Batteries New Life

Electric vehicles (“EVs”) are undoubtedly the next stage of vehicular transport. After decades of owning the world’s roads, internal combustion engine (“ICE”) vehicles are nearing the end of their century-long reign. In a bid to cut greenhouse gas emissions and halt the runaway climate change that presents an almost existential risk to humanity, several territories around the world plan on replacing ICE cars with zero-emission EVs. By using rechargeable lithium-ion battery packs rather than combustion engines, EVs do not rely on fossil fuels and produce no emissions at the tailpipe. However, as groundbreaking as they are, EV batteries can end…

WednesdayFeb 02, 2022 11:27 am

How Rebates Program Could Reenergize EV Adoption in Washington State

Electric vehicles (“EVs”) are expensive. Although the government is keen on replacing the internal combustion engine (“ICE”) cars on the roads with zero-emission EVs, the high purchase prices of the vehicles lock out a large percentage of the population. According to the Fuels Institute, the average electric car owner has an annual household income of more than $100,000. In Washington State, for instance, high price points are preventing low-income residents, who make up a significant percentage of the population, from purchasing EVs. This is despite the fact that Washington is one of the best states in the country to own…

TuesdayFeb 01, 2022 2:35 pm

Reforming Car Dealership Laws Could Boost EV Penetration

Unlike most consumer products that you can buy from either a retailer or directly from the producer, car sales can only be conducted via dealerships. Seventeen states, including Connecticut, Texas and Wisconsin, have policies that outlaw direct vehicle sales, forcing automakers to sell their vehicles through dealerships. And since these dealerships generally earn less than 10% on the sale of every new car, they earn most of their revenue through servicing, add-ons and car loans. The very nature of electric vehicles (“EV”) makes them virtually incompatible with this sales model. For starters, EVs require less maintenance over their lifetime, meaning…

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Month: February 2022