NewsRoom Articles - Page 110 of 134

WednesdayApr 21, 2021 2:50 pm

Biden Calls End of Feud Between Korean EV Battery Makers Victory for US

The Joe Biden administration is determined to replace most of the country’s gas and diesel-powered vehicles with zero-emission electric vehicles (“EVs”), and recent developments in the battery-making space have brought the country a step closer to its goal. Two battery makers from South Korea — SK Innovation and LG Energy — had been involved in a feud that would have had lasting consequences on the American electric vehicle industry. However, the two companies recently announced that they have reached a settlement, a move President Joe Biden says is a big win for the United States. In February this year, the…

MondayApr 19, 2021 11:30 am

These EV Makers Are Betting Their Future on Tiny Cars

Americans love their big cars. With North Americans buying more sports utility vehicles (“SUVs”) than they do cars, the SUVs have been flying off dealers’ lots for quite a while. Consequently, as the automotive industry has started shifting towards electrification, most EV makers have tried their hand at developing an electric SUV to cater to the pickup truck-loving masses. In China, however, drivers have overwhelmingly taken to the Wuling Hong Guang Mini EV, a tiny EV that has taken the Chinese market by storm and is even outselling Tesla’s Model 3. Several automakers have taken note of the trend, developing…

FridayApr 16, 2021 12:01 pm

Ideanomics, Inc. (NASDAQ: IDEX) Evolving the Vision to Lead EV Solutions Development

New York-based Ideanomics redefined its operations last year to synergistically create a global ecosystem focused on the growing potential of the electric vehicle market Ideanomics expects its developing revenue stream to largely depend on a Sales to Financing to Charging (S2F2C) business model based on vehicle and battery sales, financing and insurance services, and EV battery charging and related energy services Forecasts anticipate more than a million global commercial EV sales by 2023 and growth in the global EV charging infrastructure market at a CAGR of 33.4 percent from 2021 to 2028 Global commercial electric vehicle company Ideanomics (NASDAQ: IDEX)…

FridayApr 16, 2021 11:30 am

Volkswagen to Support Grids by Including V2G in EVs

Electric vehicles (“EVs”) are poised to overhaul the transportation sector from an industry with one of the highest rates of carbon emissions to one that relies on zero-emission vehicles powered by green, renewable energy. The average electric vehicle runs on electricity and produces zero-emission at the tailpipe, making it the perfect vehicle for a green economy. In a bid to ensure renewable energy generated through wind turbines is not lost to the ether, German automaker Volkswagen is now looking to install vehicle-to-grid (“V2G”) technology in its vehicles. According to German news agency Handelsblatt, Germany loses as much as 6,500 gigawatt-hours…

ThursdayApr 15, 2021 3:15 pm

Hyundai Boasts Its EV Can Do More Than Move You Around

By the time Hyundai unveiled its first electric vehicle (“EV”), the Kona EV back in 2018, the nascent EV sector had been claimed by Tesla and established automakers such Volkswagen and BMW. The South Korean automaker has since been working hard to catch up to the industry’s big players, and it seems it has come up with an offering that may give Tesla and the likes a run for their money. According to Hyundai, its new EV, the Ioniq 5, is filled with a plethora of features that make it superior to the average electric vehicle on the market. The…

WednesdayApr 14, 2021 1:40 pm

Illinois Car Dealers Fight Back Against Direct EV Sales to Customers

For years, customers have griped about how unpleasant buying a car from a dealership can be. Often the second biggest purchase most people make in their lives, a car represents a major financial commitment. However, according to a wide variety of testimonies, going to a car dealership can completely deflate the whole experience. Unfortunately, most states require automakers to sell their vehicles through franchised car dealerships, a model that the nascent electric vehicle (“EV”) industry is looking to ditch forever. Tesla was the first EV startup to completely bypass car dealerships and sell directly to the consumers. The company’s online…

WednesdayApr 14, 2021 11:08 am

Ideanomics, Inc. (NASDAQ: IDEX) Releases 2020 Financial Results, Appoints Chief Revenue Officer to Help Drive Long-Term Growth

EV (electric vehicle) revenues amounted to $19.5 million in 2020, growing 600+ percent from $2.7 million in 2019 First sales of battery and charging systems also drove revenue in 2020 and are expected to continue growing this year following the acquisition of WAVE New Chief Revenue Officer Kristen Helsel has a proven track record in growing revenues in the automotive and energy management industries and will play an instrumental role in driving the company’s growth, performance and strategy Ideanomics (NASDAQ: IDEX), a global company focused on enabling the widespread adoption of commercial electric vehicles and associated energy consumption, finished 2020…

TuesdayApr 13, 2021 2:15 pm

Highlights of President Biden’s $2 Trillion Infrastructure Plan

Just a few months into his first term, President Joe Biden has unveiled a massive infrastructure plan that would support a mass shift from fossil fuels to clean renewable energy and zero-emission vehicles. The Democrat campaigned on a green-energy platform, pledging to tackle the climate change crisis while simultaneously helping the country’s economy recover from the coronavirus pandemic. Soon after he assumed office, Biden announced a plan to build 500,000 public electric charging stations across the country. The new infrastructure plan, which was released in late March, outlines his green-energy plan more conclusively. Among other things, the plan would support…

MondayApr 12, 2021 3:00 pm

Europe Gearing Up to Be an EV Battery Hub

Triggered by the record-setting sales of electric vehicles (“EVs”) last year and the prediction that Europe will lead in EV sales this year as well, manufacturers in the region are rushing to build a supply chain for batteries from the ground up. For years, Europe has been content to let foreign-based companies take charge of the battery market, but the recent surge in the demand for electric vehicles as well as the lessons learned from the supply chain disruptions caused by the coronavirus pandemic have prompted Europe to claim a piece of the pie for itself. Manufacturing plants are being…

FridayApr 09, 2021 2:45 pm

Chinese Smartphone Maker to Enter EV Space with $1.5B Investment

Xiaomi, one of the largest smartphone makers in China, has announced that it intends to join the electric vehicle (“EV”) industry by investing 10 billion yuan ($1.52 billion) over the coming 10 years. The firm revealed on Tuesday that it plans to establish a fully owned subsidiary to make electric vehicles, and the first phase of funding for this project will amount to 10 billion yuan. This subsidiary will be headed by Xiaomi CEO Lei Jun. In a statement the company released, Xiaomi hoped that it would make high-quality smart EVs, which would give people around the world the opportunity…

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