August 2024 - Green Car Stocks

FridayAug 30, 2024 10:00 am

Lucid Motors Unveils Trio of Affordable EVs to Take on Tesla

Lucid Group Inc. has unveiled three affordable battery electric vehicles to challenge Tesla's market dominance by appealing to the average driver. Tesla's Model 3 and Model Y EVs are among the most popular electric cars in the Unites States; they regularly land on annual best-selling lists. Lucid, on the other hand, has been praised for the quality of its vehicles, but its sales volumes are still far behind Tesla. A Lucid Motors executive has now revealed that the company will release three affordable mid-size electric cars in the near future to take on Tesla and garner a large share of…

WednesdayAug 28, 2024 10:00 am

Ford to Divert from EPA’s Preference for EVs and Build More Hybrids

With most automakers struggling to sell battery electric vehicles (BEVs) amid a worldwide fall in EV demand, Ford is pivoting from pure electric vehicles to hybrids. In a move that goes against the U.S. Environmental Protection Agency’s (EPA) transport emission preferences, the Boston-based carmaker has announced that it will prioritize hybrid electric vehicles over all-electric cars. Hybrids have been around for quite a long time, but policymakers have largely focused on BEVs as the next phase of carbon-free vehicular travel. While BEVs don't require any fossil fuels and produce zero tailpipe emissions, hybrids combine both a combustion engine and an…

TuesdayAug 27, 2024 10:00 am

ACEEE Study Shows More Efficient EVs Could Lower Grid Stress, Slash Charging Costs

A recently published study from the American Council for an Energy-Efficient Economy (ACEEE) has revealed that adopting more efficient battery electric vehicles (BEVs) could alleviate stress on power grids and lower charging costs by nearly 30%. The research also notes that increasing the average efficiency of electric cars could cut EV prices by nearly $5,000 and allow EV drivers to lower both their purchase and operational costs. Electric cars are poised to replace the United States’ massive fleet of internal combustion engine (ICE) cars over the next couple of decades to help the country cut emissions from transportation and achieve…

FridayAug 23, 2024 10:00 am

Data Suggests EVs Lose Resale Value at Concerning Rates

The nascent electric vehicle sector is currently dealing with an issue that could threaten the sector’s longevity: EVs are losing their resale value at alarming rates. Data suggests that battery electric vehicles (BEVs) are losing up to hundreds of dollars in value per day as secondhand electric vehicle prices continue to plummet. The loss in value has been so great that trade-in values for electric cars have fallen by one-half in only a year. This doesn't bode well for the industry as fewer commercial buyers will be willing to invest in an asset that loses value so quickly, especially since…

WednesdayAug 21, 2024 10:00 am

As EV Uptake Grows, States are Scrambling to Replace Taxes from Gasoline

Several states in America are scrambling to replace gasoline taxes as more and more of their residents replace their internal combustion engine (ICE) vehicles with electric vehicles. This has resulted in situations where states pass levies or taxes on people who purchase battery electric vehicles (BEVs) that some stakeholders referred to as penalties for purchasing an EV. Ironically, many of these states offered their residents EV subsidies before deciding to slap them with a tax for EV ownership. Those who support these electric vehicle taxes say they are needed to replace the gasoline taxes states would use to maintain their…

MondayAug 19, 2024 1:30 pm

Falling Resale Prices Put European EV Leasing at Risk

The recent fall in secondhand electric vehicle prices may be a boon for drivers looking for affordable EVs, but it doesn't bode well for Europe's fledgling electric-vehicle leasing market. According to new European car registrations, around 60% of all new cars on the continent (both EVs and fossil fuel cars) are leased rather than bought. With many European nations taking major steps to boost electric-vehicle adoption, the share of leasing revenue generated by electric vehicles is increasing steadily. However, falling secondhand EV prices coupled with rising leasing costs threaten to cut this revenue. Some stakeholders even warn that leasing companies…

FridayAug 16, 2024 10:00 am

US EV Charging Company Acts to Curb ‘Charging Hogs’

A U.S. electric vehicle charging company is developing new technology to deal with EV ‘charging hogs’ who let their electric cars linger at public chargers. Two of the many issues that dampen the electric vehicle charging experience are long lines and extended wait times. In many cases, these wait times are caused by drivers who linger at public EV chargers to let their EVs charge to 100%. Unlike fossil fuel-powered cars, which can receive a full tank of gas with no issue, electric car batteries function optimally at 20–80%. “Filling up” your EV regularly (charging up to 100%) can speed…

WednesdayAug 14, 2024 10:00 am

China Takes EU EV Tariffs Case to World Trade Organization

China has filed an official appeal at the World Trade Organization (WTO) over the import tariffs the European Union (EU) has levied on Chinese electric vehicles. The EU made this move after its investigations confirmed that Beijing had used billions of dollars’ worth of subsidies to artificially lower electric vehicles and undermine European automakers. Electric vehicles manufactured in China are now subject to tariffs of up to 38% in European ports and have essentially lost the edge that would have allowed them to outcompete European carmakers. Furthermore, the United States also approved a 100% tariff on Chinese EVs, essentially locking…

MondayAug 12, 2024 10:00 am

Elon Musk’s Endorsement Drives Trump to Back EVs

GOP presidential candidate Donald Trump has revealed that he has changed his antagonistic stance toward electric vehicles following Tesla CEO Elon Musk's endorsement of his presidential bid. According to the former president, he has “no choice” but to support electric cars after Musk endorsed his third run to become president. While speaking at an Atlanta rally over the weekend, the controversial politician said that EVs can serve a “small slice” of the country's population. This is quite a notable change from Trump's previous comments on electrification and green energy in general. He has denigrated EVs for the past several months,…

FridayAug 09, 2024 10:00 am

EV Sales Forecast Slashed as ‘Overriding Concern’ Bothers Industry

The Society of Motor Manufacturers and Traders (SMMT) in the United Kingdom has slashed its forecast for electric-vehicle sales as the market continues to deal with low demand. The trade body noted that more action has to be taken to encourage electric-vehicle adoption among consumers. This statement comes at a time when the burgeoning electric vehicle industry is plagued with waning demand and dwindling sales as high costs discourage drivers from making the transition to electric cars. Dwindling electric-vehicle demand is likely the primary reason behind the SMMT lowering its new-vehicle registration forecast for 2024 from 1,984,000 units to 1,968,000…

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Month: August 2024