NewsRoom Articles - Page 11 of 101

ThursdayOct 26, 2023 3:04 pm

EV Shoppers Can Now Access Significant Discounts as Sales Stutter

After prohibitively high prices have prevented most drivers from purchasing electric cars for several years, increased competition coupled with reduced demand is making electric cars more affordable. Electric cars have been out of the reach of most consumers for nearly a decade thanks to high prices, keeping a majority of drivers from buying EVs and lowering EV adoption rates. Early adopters and high-earning individuals who love to have the latest technology already own electric vehicles, Edmunds consumer insights analyst Joseph Yoon says, and the time for capturing that specific market segment is long past. Carmakers that want to remain relevant…

WednesdayOct 25, 2023 12:20 pm

Europe Looks to Curb Chinese EVs, But Motorists Love Them

A recent influx of cheap Chinese battery electric vehicles (BEVs) into the European market has European Union leaders worried. While most nations with EV transition plans have invested in EV subsidies and incentives, China is spending much more on its domestic electric vehicle industry. The Chinese government has invested billions of dollars into subsidizing the EV production process, allowing local automakers to price their electric cars much lower than other car makers. With competition in China’s EV market heating up by the day, Chinese carmakers such as BYD are starting to expand to European markets. Their affordable offerings stand out…

TuesdayOct 24, 2023 9:47 am

BYD Reports High Q3 EV Profits as Sales Surge

Chinese electric vehicle giant BYD expects its net profits for third quarter 2023 to nearly double, thanks to a recent surge in electric vehicle sales. The Berkshire Hathaway-backed company is Tesla’s top competitor in China and outpaced the American EV maker by nearly 200,000 units in sales. Forecasts from BYD show that the company predicts to record a net profit of $1.31 to $1.57 billion for the July to September period, representing a 67% to 102% increase from last year. The company noted that despite seeing increasingly stiff competition in the auto segment in the third quarter of the year,…

MondayOct 23, 2023 12:51 pm

Why Your EV May Be Charging Slowly

Electric vehicles are leaps and bounds ahead of conventional fossil-fuel-powered cars in terms of reducing carbon emissions, but they are still inferior in terms of charging, or refueling speeds. The average diesel or petrol-powered car can fill up in only a minute or two while a level 2 electric vehicle charger can provide an electric car with anywhere from 10 to 75 miles of range for every hour of charging. Fortunately, EV drivers can bump charging speeds by taking into account certain factors before, during and after they charge their vehicles. If your electric car is charging slowly, factors such…

FridayOct 20, 2023 3:27 pm

Tesla’s Dominance of US EV Market Slips in Q3

Tesla has been the electric vehicle industry’s top-performing company for most of the sector’s existence, pioneering the modern electric vehicle and selling more EVs than other automakers. However, after basically running the EV industry for more than a decade, Tesla has been forced to contend with significantly increased competition in major markets such as the United States and China. Data shows that the company’s electric vehicle market share in the U.S. during Q3 2023 dropped below 50% compared to almost 65% over the same period in 2022. Even though Tesla saw its EV sales soar by close to 20% in…

ThursdayOct 19, 2023 1:14 pm

Game Developer Announces Debut of EV e-Racing Offering

Animoca Brands has announced it will launch an electric vehicle e-racing offering titled Formula E: High Voltage on Oct. 19, 2023. Developed via a partnership between Aminoca Brands and Amber, the Web3 EV racing game will leverage environmentally friendly blockchain technology to grant players and fans digital ownership of their in-game items. These items will come as non-fungible tokens (NFTs) with each Formula E: High Voltage player receiving four NFTs (two drivers and two cars) when they sign up. With digital ownership of their NFTs, players will be able to take greater control over their racing team and electric race…

WednesdayOct 18, 2023 1:49 pm

Statistics Show ICE Vehicle Fires 20 Time More Likely Than EV Fires

With electric vehicle adoption picking up steam in major markets such as the United States, there have been increasing reports of EVs catching fire and requiring gallons of water to put out. Extinguishing a regular car fire takes around 1,000 to 2,000 liters of water while an electric car fire can take up to 150,000 liters of water to be put out. The potential for lithium-ion batteries to overheat and catch fire, coupled with the insane amount of water needed to put out electric vehicle fires, has raised fears that electric cars may present a significant danger to urban populations.…

TuesdayOct 17, 2023 2:46 pm

Why Electric Vehicle Batteries Are Becoming Cleaner, More Affordable

Electric vehicle batteries lie at the heart of a revolution that will see the majority of the diesel and petrol-powered cars on the road being replaced with zero-emission electric cars. Unlike internal combustion engines, which require fossil fuels to run, EV batteries can be recharged with electricity, eliminating the need for fossil fuels and reducing tailpipe emissions to zero. Sourcing raw materials and manufacturing EV batteries is incredibly costly, however. With the battery accounting for most of an EV's cost, expensive batteries have pushed up overall EV prices and limited EV ownership to high-earning individuals with plenty of disposable income.…

MondayOct 16, 2023 2:52 pm

EVs Could Get More Affordable as Sodium-Ion Batteries Take Root

Battery electric vehicles (BEVs) may become affordable enough for the average driver if automakers adopt sodium-ion batteries. The standard battery in most BEVs is the classic lithium-ion battery, which relies on positively charged lithium ions to create free electrons and build up a charge. Battery makers have had decades to perfect lithium-ion battery technology, and it was the obvious go-to once companies such as Tesla began developing electric vehicles for the mass market. However, lithium-ion batteries require several rare and expensive minerals to build, making EV batteries incredibly costly to manufacture. Since the battery is the most expensive component in…

FridayOct 13, 2023 1:23 pm

Swedish Firm Manufacturing Flat-Pack EVs Inspired by IKEA

A Stockholm-based electric vehicle startup has begun manufacturing a mini-EV inspired by IKEA’s iconic flatpack design. Fellow Swedish company and EV startup Luvly took inspiration from IKEA’s flat-pack design and developed a small electric car that can be delivered in a flat-pack form. Dubbed the Luvly-O, the mini-electric car is reportedly so light and small that it can cut shipping-related carbon emissions by a significant margin. The Luvly-O is the first-ever electric car to feature flat-pack delivery, and Luvly is hoping its super-lightweight frame and changeable batteries will make the mini-EV a much more sustainable transport option compared to other…

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