July 2022 - Page 2 of 3 - Green Car Stocks

MondayJul 18, 2022 11:53 am

Study Shows US Motorists Prefer Rebates Over Tax Credits

Anyone who has heard or read about electric vehicles knows that they are much more expensive than the average internal combustion engine (ICE) vehicle. According to an April report from analysis firm Recurrent, the price of electric vehicles has grown by more than 20% since last year. Recently, automakers such as Tesla and GM increased the cost of their electric models amid supply chain constraints and increased production costs. To help offset the cost of EVs and increase adoption, the government provides thousands of dollars in tax credits to people who purchase EVs. However, researchers from George Washington University say…

FridayJul 15, 2022 11:16 am

Study Shows Electric Vehicles Can Be Used in Rural Areas

Electric vehicles are superior to internal combustion engine (ICE) cars in one significant way: they do not produce any emissions at the tailpipe. As such, several countries have pledged to electrify their transportation over the next couple of decades as part of a global effort to cut down on carbon emissions. However, EVs still make a small percentage of vehicles on the road and the use of those vehicles tend to be concentrated in cities and urban areas. This is primarily because the charging infrastructure needed to support electric vehicles is mostly located in urbanized areas. Furthermore, the kind of…

ThursdayJul 14, 2022 11:54 am

US Reaches Key Milestone Crucial for Mass EV Adoption

As territories around the world work to reduce their reliance on fossil fuels and cut their carbon emissions, electric vehicles have become increasingly crucial to the green energy transition. Research by Katherine Mckenzie, a faculty member at the University of Hawaii Mānoa School of Ocean and Earth Science and Technology (SOEST), shows that electric vehicles have the potential to reduce carbon emissions by a whopping 93% in 30 years. However, consumers will have to ditch their internal combustion engine (ICE) vehicles and adopt electric vehicles in mass for such a prediction to come true. This will undoubtedly require a shift…

WednesdayJul 13, 2022 3:19 pm

Survey Says Most Motorists Are Willing to Purchase EVs

A recent survey by Consumer Reports has revealed that more consumers are interested in purchasing a zero-emission electric vehicle. A growing number of Americans are considering buying an EV as their next vehicle, the survey found, with at least 71% expressing some interest in either leasing or even buying an EV. The nationally representative survey included 8,027 U.S. consumers and ran from late January to February. Of the 71% of participants who expressed interest in purchasing or leasing an all-electric vehicle, 14% revealed that they would definitely lease or buy an EV if they were to get a new car…

TuesdayJul 12, 2022 3:46 pm

Data Shows EV Sales Soared 55% Globally in May

Electric vehicles are said to be the next stage in vehicular transportation. However, they are very costly, require charging infrastructure that simply isn’t there yet and are currently battling with a crippling global shortage of semiconductor chips. But despite these mitigating factors, EV makers managed to sell a record number of electric cars in May, indicating that the nascent EV space is still going strong. Global electric vehicle sales reached almost 700,000 in May, increasing by a whopping 55% amid economic woes and supply chain constraints. Data from EV-Volumes shows that customers registered 699,708 passenger electric cars in May, raising…

MondayJul 11, 2022 12:48 pm

BYD Overtakes Tesla as Largest EV Maker Globally

After dominating the electric vehicle sector for more than a decade, Tesla has finally been dethroned as the top-producing electric vehicle firm in the world. BYD Auto, a Shenzhen-based and Warren Buffet-backed automaker, has overtaken Tesla as the most prominent maker of EVs on the globe. Tesla’s production figures were undoubtedly impacted by supply chain disruptions and the closure of Gigafactory Shanghai because of COVID-19-related safety measures. Company filings show that BYD delivered 641,350 alternative energy cars over the first half of the year, a whopping 314% year-on-year increase in sales compared to the first half of 2021. The Chinese…

FridayJul 08, 2022 11:05 am

Tesla June Production Hits Record High

June was a record month for electric car maker Tesla as the Austin, Texas-based company saw its sales increase by 50% in the first half of 2022 compared to last year. The world’s largest producer of electric cars recently released its production and delivery results for Q2 2022, revealing that it also experienced its first down quarter in a long time. Although Tesla did not state exactly how many EVs it produced in June, the company stated that June 2022 was a record production month. Over the second quarter of 2022, Tesla produced 258,000 EVs in total and delivered more…

ThursdayJul 07, 2022 12:36 pm

Ongoing Semiconductor Shortage Has Potential to Slow Electric Vehicle Adoption

The global semiconductor shortage has had a massive impact on the automotive industry, forcing automakers to halt the production of millions of cars. Last May, AlixPartners estimated that automakers could end up losing around $210 billion in revenue in 2021 amid halted production. And the chip shortage hasn’t just affected traditional cars; the nascent electric vehicle industry, which consumes a lot more semiconductor chips compared to fossil-fuel vehicles, may also see slowed growth in the next few years if the shortage drags on. According to management consultancy firm P3 Group, electric vehicles require almost twice as many semiconductors as fossil-fuel…

WednesdayJul 06, 2022 2:16 pm

DoE Report Says EV Jobs Skyrocketed in 2021

With many countries looking to transition away from fossil fuels to clean, renewable energy, the electric vehicle sector is poised to experience explosive growth over the next decade. Although electric vehicle adoption is pretty low, primarily due to high prices and insufficient public charging infrastructure, the industry is still seeing steady growth. According to a recent report from the Department of Energy (DOE), EV jobs skyrocketed in 2021. The DoE’s 2022 U.S. Energy and Employment Report (USEER) reveals that electric vehicle jobs increased by 26.2% in 2021, adding a total of 21,961 job opportunities to the industry. In fact, the…

TuesdayJul 05, 2022 2:12 pm

Sony, Honda Team Up to Manufacture Electric Vehicles

Apple isn’t the only company from outside the automotive ecosystem to hedge its bets on electric vehicles. Electronics giant Sony has announced that it will be partnering with Japanese automaker Honda to form a joint venture dedicated to building purely electric cars. First revealing news of the partnership to the public in March, the two companies said they would develop and sell battery electric vehicles jointly. Furthermore, they stated that they were open to extending the partnership to other players. A statement from the two companies stated that they would form the joint venture by the end of 2023 and…

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Month: July 2022