NewsRoom Articles - Page 19 of 126

WednesdayOct 09, 2024 10:00 am

EU Members Endorse Steep Tariffs on Chinese EVs

The European Union (EU) is set to impose major taxes on electric vehicles imported from China after the majority of EU member states approved a proposal for steep EV tariffs. With the EU already levying provisional import tariffs of up to 38% on Chinese electric cars, the recently approved plan is part of the European Commission's efforts to protect the EU’s automotive sector from “unfair competition.” Chinese companies can manufacture electric cars at low cost and sell them at affordable prices thanks to a decade-plus of government subsidies and programs. On the other hand, western automakers still haven't figured out…

MondayOct 07, 2024 10:00 am

Kia Opens First Plant Focused on EV Production

South Korean automaker Kia Motors has opened its first electric-vehicle-only manufacturing plant at Autoland Gwangmyeong, South Korea. The new EV-only plant (EVO) will mass manufacture two lines of low-cost EV models — the Kia EV3 and Kia EV4 — as part of Kia's plans to become a leading EV maker. With a capacity of 150,000 electric cars per year, the new facility will also be Hyundai Motor Group’s first electric-vehicle-only manufacturing facility. Kia CEO Choi Joon-Young said the facility’s completion marked Kia's first step towards becoming a “leading EV brand.” Speaking during the facility's completion ceremony, Joon-young said Kia would…

FridayOct 04, 2024 10:00 am

EU Signals Willingness to Continue Talks with China about EV Tariffs

A senior European Union (EU) official has revealed that the European Commission is willing to continue talks with China about electric vehicle import tariffs, even after the EU imposes such tariffs. The commission launched an antisubsidy probe into Chinese EVs several months ago to determine if China's electric vehicle subsidy program gave its automakers an unfair edge over foreign carmakers. Although the probe is still ongoing, the EU has already imposed import tariffs of up to 38% on battery electric cars manufactured in China, making it impossible for Chinese companies to sell their EVs at affordable prices in one of…

WednesdayOct 02, 2024 10:00 am

Ford to Assemble EV Batteries in Romania

Ford Motor may soon begin assembling electric vehicle batteries at a new battery assembly facility in Craiova, Romania. According to local sources consulted by Economedia, the EV battery cells will be based on designs from another region, making Romania the last step in Ford's EV battery manufacturing pipeline. Ford has neither denied nor confirmed the validity of the information. The revelation comes amid a global slowdown in electric vehicle sales that has lasted several months and left thousands of unsold battery electric cars collecting dust in ports and car lots. Ford is one of the many established automakers that had…

MondaySep 30, 2024 10:00 am

America to Ban Chinese Technology in Vehicles

U.S. officials have revealed that they are planning to ban the use of Chinese and Russian technology in vehicles manufactured in the country. This ban would prevent certain software and hardware developed in both Russia and China from being deployed in American-made cars, buses and trucks to minimize apparent security risks. According to the officials, they fear that Chinese and Russian technologies used to connect vehicles to other networks and facilitate autonomous driving could grant enemies remote access to vehicles running on U.S. roads. Although the U.S. automobile industry rarely uses software made in China and Russia, Commerce Secretary Gina…

FridaySep 27, 2024 10:00 am

Ipsos Research Shows More Americans Doubt Eco-Benefits of EVs

New research has revealed that a growing number of Americans aren't fully sold on the environmental benefits of battery electric vehicles (BEVs). Electric cars produce zero tailpipe emissions as they eschew the traditional internal combustion engine for an electric motor, making them integral to decarbonizing the transportation sector. However, more than a decade after Tesla Inc. (NASDAQ: TSLA) introduced the first commercial BEV to the market, electric vehicles make up a minuscule portion of new vehicle sales and still haven't made any progress toward dethroning petrol and diesel-powered vehicles. Ipsos Research has now discovered that the percentage of Americans who…

WednesdaySep 25, 2024 10:00 am

Tumbling EV Sales Cause EU Automakers to Call for Urgent Action

The European Union’s automobile industry is calling for desperate action amid a notable fall in new electric vehicle car sales. Consumer demand for battery electric vehicles (BEVs) across the EU has fallen significantly in recent months, and carmakers are finding it increasingly difficult to sell their new electric cars. The regional bloc’s car industry is now asking policymakers to take action to safeguard the EU’s transition to electric cars. If no action is taken, the sector says, the transition from internal combustion engine (ICE) cars to electric cars will put significant financial strain on the economy. Furthermore, it could jeopardize…

MondaySep 23, 2024 10:00 am

Norway Now Has More EVs Than ICE Vehicles

Battery electric vehicles (BEVs) in Norway, one of the largest oil exporters on the globe, now outnumber internal combustion engine (ICE) cars. Norway has been at the forefront of the globe’s electrification efforts for the past several years and has now achieved a feat that will most likely take larger markets, such as the United States, decades to achieve. Recent data from the Norwegian Road Federation shows that 754,303 of the 2.8 million private vehicles registered in Norway are fully electric while 753,905 are powered by fossil fuels. With a population of only 5.5 million people, Norway is leagues smaller…

FridaySep 20, 2024 10:00 am

Italy Endorses EU Decision on Import Tariffs for Chinese EVs

Italy has revealed that it supports the European Union’s (EU) decision to impose import tariffs on electric cars manufactured in China. The European Commission levied import tariffs of up to 38% on Chinese electric vehicles after a probe by the commission found that China’s decade-long EV subsidy program gave Chinese automakers an unfair advantage over western carmakers. With the U.S. auto market virtually closed off to Chinese EVs, they began flooding into the EU and threatened to outcompete European carmakers in their markets. However, the EU’s recent 38% tariff on Chinese EVs means that China can't sell cheap electric cars…

WednesdaySep 18, 2024 10:00 am

The Auto Market Is Transforming Due to Chinese EV Sales

China's growing electric vehicle industry is transforming the global automobile market in a significant way. Until 10 years ago, China’s underdeveloped vehicle-manufacturing sector meant Chinese buyers mostly purchased cars from foreign automakers. However, western carmakers are finding it increasingly hard to attract buyers in China, thanks to the country's EV sector. With dozens of Chinese EV companies manufacturing multitudes of affordable electric cars, a growing number of local buyers are ditching foreign vehicles for domestically made electric vehicles. BMW’s recent decision to lower its profit margin projections in China due to waning demand signifies a major change in the vehicle…

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