August 2023 - Green Car Stocks

ThursdayAug 31, 2023 1:58 pm

High EV Prices Could Derail Europe’s Vehicle Electrification Ambitions

Experts warn that high electric vehicle prices in European nations could derail the EU’s plan to transition from petrol and diesel-powered cars to battery electric vehicles (BEVs). As part of global efforts to limit fossil fuel use and combat climate change, the European Union has pledged to phase out internal combustion engine (ICE) vehicles for BEVs. BEVs are powered by rechargeable lithium-ion battery packs and produce zero emissions at the tailpipe, making them cleaner alternatives to conventional vehicles. However, prohibitively high electric vehicle prices have kept many drivers from transitioning to EVs since the industry’s inception and have the potential…

WednesdayAug 30, 2023 2:54 pm

Affluent Auto Collectors Are Increasingly Electrifying Their Classic Cars

Rich vehicle collectors are increasingly converting their classic internal combustion engine vehicles into electric cars. During the recent luxury car show in Monterey, California, certain affluent auto collectors exhibited a variety of electrified classic cars as part of their collections, indicating the growing trend of electrification amid wealthy vehicle collectors. Electrifying diesel and petrol-powered cars has been around since the early 2000s, when workshops and garages began equipping old cars with jerry-rigged batteries and electric vehicle systems. Long before the global electric vehicle revolution began, car engineers and enthusiasts had determined some of the benefits provided by electrification and were…

TuesdayAug 29, 2023 1:07 pm

VW’s EV Shortcut in China Could Make Rivals Rethink Strategies

Volkswagen has adopted a relatively quick approach to entrenching itself in China, the world’s largest market for electric vehicles. Rather than setting camp in China and building local manufacturing facilities such as Tesla did, Volkswagen has opted to invest in Chinese automaker XPeng gain a foothold in the eastern Asian market. The German carmaker will invest $700 million in Guangzhou, Guangdong-based EV maker Xpeng, a “shortcut” that will grant the company access to Xpeng’s electric vehicle technology and could potentially accelerate Volkswagen’s entry into the largest EV market on the globe. Volkswagen launched its flagship ID series in China two…

MondayAug 28, 2023 12:33 pm

Kia to Revive Its Fully Electric Mini-car for Entry-Level EV Buyers

Electric vehicle maker Kia is poised to revive South Korea’s first-ever battery electric car, the Ray EV, in September to meet market demand for cheaper electric cars. Although a large portion of drivers have reported interest in switching to electric cars, the high premiums associated with EVs make them too costly for many consumers. The entry-level Ray EV will be affordable enough for this growing market and could help accelerate electric vehicle adoption in South Korea. Kia first introduced the mini electric car in late 2011 as the first all-electric production car in South Korea. With a small 16.5 kWh…

FridayAug 25, 2023 12:21 pm

CATL Announces Superfast EV Battery Offering 400km Range After 10-Minute Charge

Chinese battery manufacturer CATL has announced the launch of a novel “superfast charging” battery design with a 434-mile range capable of charging up to 249 miles (400 km) in only 10 minutes. The largest battery manufacturer on the globe claims the battery is the world’s first “superfast charging” electric vehicle battery with the potential to spur electric vehicle adoption by alleviating range anxiety. Unlike traditional diesel and petrol-powered cars that rely on America’s extensive network of fueling stations for their refueling needs, EVs are constrained to a limited and relatively unreliable charging network. Most of America’s public charging infrastructure is…

ThursdayAug 24, 2023 2:13 pm

Why It May Take Time for EVs to Replace Gas Cars

Several countries across the world have pledged to phase out conventional internal combustion engine (ICE) cars and replace them with battery electric vehicles (BEVs) as part of broader efforts to combat climate change. BEVs run entirely on electricity and produce zero emissions at the tailpipe, making them a great option for nations looking to cut their reliance on fossil fuels like oil. Despite relatively poor global economic conditions, consumers are buying electric cars in record numbers. Data from Cox Automotive shows that in Q2 of 2023 alone, American drivers bought close to 300,000 new BEVs, breaking EV sales records in…

WednesdayAug 23, 2023 2:11 pm

What You Need to Know About EV Battery Longevity

The average electric vehicle battery is designed to last 15 to 20 years before moving on to secondary applications. Still, it can reach its end of life earlier or later depending on EV driver habits. If you are looking to transition to an electric vehicle for the first time, you are likely curious about how you could maximize EV battery range and longevity. Since buying a vehicle is the second largest purchase most Americans will make in their lives, maximizing the battery’s longevity will be key to minimizing vehicle-associated costs. Fortunately, electric vehicle manufacturers themselves are incentivized to design durable…

TuesdayAug 22, 2023 3:42 pm

Despite Increasing EV Charging Infrastructure, US Motorists Report Higher Dissatisfaction Rates

A national transition from ICE cars to battery electric cars will require significant government and private investment in public charging infrastructure. The automotive industry has had more than a century to build out a widespread network of easily accessible refueling stations compared to the relatively young EV industry. One main concern among drivers in the United States and other markets is that there simply aren’t enough public chargers to support the current number of electric vehicles on the road. Furthermore, EV drivers regularly report low satisfaction rates with existing charging stations due to issues such as inaccessibility and unreliability. According…

MondayAug 21, 2023 2:08 pm

Tesla Again Cuts EV Prices in China

Weeks after pledging to help stop the ongoing discount war among electric vehicle manufacturers in China, Tesla has again slashed EV prices in the country. The American electric vehicle maker cut prices for the Model Y by $1,900 (14,000 yuan), bringing the cost of the Performance and Long Range versions down to $41,309 (299,900 yuan) and $48,196 (349,000 yuan) respectively. Tesla announced on its official Weibo account that it would extend its $1,102 (8,000 yuan) insurance subsidy for the base Model Y model to the end of August. Customers living close to Tesla manufacturing centers can also expect to enjoy…

FridayAug 18, 2023 1:08 pm

Rivian Raises EV Production Targets for 2023

American electric car manufacturer Rivian Automotive Inc. (NASDAQ: RIVN) has raised its EV production estimates for 2023 thanks to production-line improvements during the second quarter of the year. Rivian will manufacture 2,000 more electric SUVs, vans and trucks at its production plant in Illinois, bringing the plant’s total production estimates to 52,000 electric units. The EV maker is one of Tesla’s largest competitors in the U.S. vehicle market and has even been called the “Tesla-killer” by analysts who believe its electric offerings have the potential to challenge Tesla’s supremacy in the United States. However, the Irvine, California-based company has faced…

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Month: August 2023