FridaySep 29, 2023 3:12 pm

Exxon Mobil Prepares for Pivot as EVs Threaten to End Demand for Gasoline

The fate of many oil producers was sealed in stone when the global community pledged to replace fossil-fuel vehicles with zero-emission battery electric vehicles. While it was unlikely that these companies would fold as the world moved away from fossil fuels, oil producers would have to pivot their entire business strategies to stay in line with global climate change goals. Exxon Mobil, one of the largest international publicly traded gas and oil companies, is one of the fossil-fuel producers adjusting its strategy to fit in an EV-dominant future. The Houston, Texas-headquartered company recently announced that it would shift from its…

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ThursdaySep 28, 2023 2:29 pm

EU Wants e-Fuel Vehicles Climate-Neutral for Sales to Continue

The European Union is poised to set a requirement that e-fuel vehicles sold beyond 2035 be 100% carbon neutral. A draft document revealed that vehicles powered by e-fuels will have to be completely climate neutral in order to be sold in EU member nations. The EU’s current climate policies require that all vehicles sold in the regional bloc from 2035 have zero carbon emissions at the tailpipe. However, although all EU member nations agreed to the climate policy this year, Germany argued that e-fuel cars should be exempted from the policy banning the sale of new CO2-emitting vehicles from 2035.…

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WednesdaySep 27, 2023 12:05 pm

What China’s EV Graveyards Can Teach the EV Industry

China’s electric vehicle market is the largest and most competitive on the globe, attracting hundreds of electric vehicle startups and achieving an unprecedented rate of electric vehicle adoption. Significant government support, coupled with intense competition, has enabled EV prices in China to drop to unprecedented levels, resulting in a surge in EV purchases in China and the European market. However, a flurry of reports over the past month has indicated that the world’s largest electric vehicle market is also home to graveyards for abandoned EVs. Recent news articles and videos have shown that thousands to tens of thousands of electric…

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TuesdaySep 26, 2023 2:38 pm

EV Prices Drop as Inventory Levels Grow

After more than a decade of high electric vehicle prices, oversupply in the nascent EV market is causing EV prices to plummet. Average Tesla prices have fallen by close to 20% over the past year, and other EV makers in other major markets are cutting their prices to remain competitive in an increasingly saturated market. For the majority of the electric vehicle industry’s lifetime, electric cars have been significantly more expensive than comparable fossil fuel-powered cars. This has undoubtedly hampered EV adoption among most drivers and limited electric vehicle ownership to the select few with plenty of disposable income. However,…

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MondaySep 25, 2023 1:36 pm

Why Oil Production Grows Despite Accelerating EV Uptake

Despite a recent surge in electric vehicle purchases in major markets such as Europe, the United States and China, data shows that global oil production is still rising. Replacing fossil fuel cars with EVs represents a core component of worldwide efforts to combat climate change because electric vehicles do not use fossil fuels or produce tailpipe emissions. Factors such as high purchase prices and range anxiety have consistently hampered EV adoption, but a recent drop in the prices of major electric vehicle brands such as Tesla has spurred an increase in EV purchases. However, even though EV adoption is on…

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FridaySep 22, 2023 12:36 pm

Singapore Startup Could Leverage Refrigerated Trucks to Ease into Chinese EV Market

A Singaporean startup is looking to break into China’s overcrowded electric vehicle market by developing refrigerated electric trucks for delivering pharmaceuticals and food. Singauto Technology recently completed a $20 million initial funding round with investors and is poised to reveal its electrified cold storage truck at an upcoming Beijing event. China’s electric vehicle market is the largest on the globe and currently boasts a 23% electric vehicle share. Thanks to significant financial support from the Chinese government and the country’s massive population, more than 300 local electric vehicle companies are battling for supremacy in the world’s most expansive EV market.…

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ThursdaySep 21, 2023 10:16 am

Tesla’s Quiet Breakthrough Could Reinvent How Vehicles Are Made

American carmaker Tesla Inc. (NASDAQ: TSLA) has been at the forefront of innovation in the automobile industry for the past decade or so, almost singlehandedly leading the introduction of cutting-edge software in EVs and developing a variety of next-generation electric cars. According to a recent Reuters report, Tesla has now made a breakthrough in vehicle manufacturing that could allow it to cut its production costs by as much as 50%. Electric cars are poised to replace conventional fossil-fuel cars over the next few decades. However, high purchase prices have consistently dampened electric vehicle demand. The average vehicle is $15,000 to…

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WednesdaySep 20, 2023 12:50 pm

Research Suggests EV Sales Could Surpass 60% of Global Vehicle Sales by 2030

New research published by three different institutions indicates that global electric vehicle sales could surpass 60% of total vehicle sales by 2030. With Climate Week NYC fast approaching, three separate research pieces from the EEIST Project, Systems Change Lab and RMI predict a massive surge in EV sales over the rest of the decade. RMI analysis found that worldwide EV sales are poised to meet or even surpass the most overzealous timelines for achieving net-zero emissions. In partnership with the Bezos Earth Fund, RMI’s research found that EV sales may make up more than two-thirds of the global market share…

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TuesdaySep 19, 2023 1:54 pm

EU Starts Investigating Chinese EV Subsidies as Imports Skyrocket

European Union authorities are launching a probe into China’s government support for local electric makers amid a surge in European imports of Chinese electric cars. A global race to electrification is well underway ,and China seems to be winning. The East Asian nation represents the largest electric vehicle market on the globe and is home to some of the world’s best-selling EV companies. During a recent European parliament meeting, European Commission President Ursula Von der Leyen said that China has used massive state subsidies to artificially lower EV prices and flood the global EV market with “cheaper electric cars.” Coupled…

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MondaySep 18, 2023 11:55 am

Energy Secretary Gains Firsthand Experience of EV Charging Challenges During Road Trip

U.S. Secretary of Energy Jennifer Granholm experienced the challenges of public electric vehicle charging firsthand when she set off on a four-day road trip using an electric car. America is jumping headfirst into electrification, along with plans to invest billions of dollars in accelerating EV adoption and building out a nationwide network of public charging infrastructure. However, the country’s public EV infrastructure can barely support the current number of electric cars on the road. Most charging stations are concentrated in California and other urban regions and are often unreliable, leading to a poor charging experience for many drivers. Although EV…

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