July 2024 - Green Car Stocks

WednesdayJul 31, 2024 10:00 am

Porsche Drops EV Targets Amid Sluggish Demand

Luxury high-performance sports car carmaker Porsche has announced that it is abandoning its electric vehicle targets due to sluggish EV demand. Porsche is the latest in a growing list of established automakers that made ambitious electrification plans but have been forced to scale back amid falling electric vehicle demand and slowed EV uptake. With consumers in most major markets dealing with high interest rates and rising living costs, very few are willing to spend tens of thousands of dollars more for an EV. Porsche was looking to crack into the luxury EV market with the Porsche Taycan EV, but the…

MondayJul 29, 2024 10:00 am

Recent Trump Speech Makes EV Investors Jittery

A recent speech by Republican presidential candidate Donald Trump has left electric vehicle investors feeling jittery. While speaking in Milwaukee after he resumed his campaign, the former president slammed the use of federal funds to subsidize the installation of battery electric vehicle chargers and promised to reduce energy costs. His statements have left EV investors in the country unsure of how Trump will handle low-carbon technologies such as battery electric vehicles (BEVs) and what his energy agenda will be if he secures another term in the White House. Trump referred to EV charging station subsidies as a “ridiculous and incredible…

FridayJul 26, 2024 10:00 am

Ford Ditches Plan to Sell Only EVs on European Market by 2030

Ford Motors has announced that it is ditching its goal of fully electrifying its vehicle lineup in Europe by 2030. The American automaker had set the relatively ambitious goal of only selling electric cars on the European market by the end of the decade, but it is scaling back those plans in the wake of slower-than-expected EV uptake. Model E electrification division chief operating officer Marin Gjaja says Ford will continue selling ICE cars as well as battery electric vehicles (BEVs) and hybrids. The recent slowdown in electric vehicle sales has forced most established automakers to rethink their electrification plans.…

WednesdayJul 24, 2024 10:00 am

Could California’s Goal of One Million EV Chargers Be Unrealistic, Unattainable?

California's goal of installing one million public electric vehicle charging stations by the end of the decade to support mass EV adoption may be unrealistic and unattainable, some experts say. As the state with the highest number of battery electric vehicles (BEVs) in the country, California is already home to a large portion of North America's public EV charging infrastructure. However, the state will need at least a million charging stations by 2030 to support its growing EV market, giving California only seven years to achieve this goal. A growing number of experts say California will have to install public…

MondayJul 22, 2024 10:00 am

China Goes to WTO Over ‘Discriminatory’ US EV Subsidies

China is appealing for intervention from the World Trade Organization (WTO) to probe what it believes are “discriminatory” electric vehicle subsidies in the United States. According to the second-largest economy on the globe, the Biden administration’s green plan has implemented “discriminatory and protectionist” policies in America's nascent electric vehicle industry. The Inflation Reduction Act of 2022 pumped billions of dollars into the local EV industry but with caveats intended to encourage domestic production across the entire supply chain. These provisions lock out electric vehicles with parts sourced from or manufactured in China from the subsidies, most likely in an attempt…

FridayJul 19, 2024 10:00 am

Contrary to Critics’ Views, EVs Could Bolster Energy Grids

EV industry players say electric vehicles have the potential to benefit energy grids across the world. With a growing number of countries working to electrify their transportation segments, many electrification skeptics fear a widespread transition to new energy vehicles, such as plug-in hybrids and battery electric vehicles (BEVs), could place significant stress on energy grids. These vehicles would be entirely powered by electricity, but skeptics say the energy grids in most countries cannot support a mass transition to electric vehicles. However, top EV industry players believe electric cars could bolster energy grids in nations that pursue electrification. Referring to EVs…

WednesdayJul 17, 2024 10:00 am

Motoring Organizations Hold Rally in Support of EV Transition

The electric-vehicle movement scored a major win in the United Kingdom after several motoring organizations took part in a five-day rally supporting the transition to EVs. The rally involved dozens of teams testing battery electric vehicles as well as EV-charging infrastructure on a 1,500-mile UK circuit. Comprised of charging companies, energy firms and auto manufacturers, the teams drove electric cars from Wolverhampton, through Scotland and Wales, to Chester. The rally began on July 1, 2024, as dozens of EVs, including vans with commercial branding, gathered at a car park in Wolverhampton before setting off on the long journey to Chester.…

MondayJul 15, 2024 10:00 am

EU Tariffs Bite as June Data Shows Reduced Chinese EV Exports

Sales data from June has revealed that Chinese electric vehicle exports to the European Union slowed down last month due to the EU’s new import tariffs on EVs manufactured in China. Although the tariffs were first introduced provisionally as EU and Chinese leaders discussed a way forward, it seems they are already impacting the export of Chinese electric cars into the regional bloc. The China Passenger Car Association (CPCA) reported that despite a 22.3% year-over-year increase, the export of Chinese new energy vehicles (NEVs) dropped by 15.2% in June. This includes plug-in hybrid electric cars as well as battery electric…

FridayJul 12, 2024 10:00 am

US Dealers Sue Hyundai, Alleging Inflated EV Sales Figures

South Korean automotive giant Hyundai Motors America Corp (HMA) is fielding a lawsuit from a group of Hyundai dealers in the United States that accuse the company of inflating its electric vehicles sales figures. Filed in Chicago federal court by Illinois-based Napleton Aurora and its affiliates, the suit alleges that Hyundai Motors has retaliated against dealerships that refused to inflate their EV sales figures as well. According to Napleton Aurora Imports and the other franchises that filed the suit, Hyundai Motor pressured vehicle dealers in the U.S. to inflate their sales numbers by misusing inventory codes used for “loaner” cars.…

WednesdayJul 10, 2024 10:00 am

New EU Tariffs on Chinese EVs Take Effect

In a move predicted to stoke tensions between the European Union (EU) and China, the EU has levied a 37.6% import tariff on electric vehicles manufactured in China. European Union leaders first announced the provisional tariffs several weeks ago as part of efforts to protect European automakers from Chinese automakers supported by billions of dollars in government subsidies. With the U.S. market largely off limits to Chinese automakers even before the United States levied a 100% tariff on EV imports from China, Chinese carmakers turned to the EU and began exporting their affordable electric cars to Europe. EU leadership quickly…

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Month: July 2024