NewsRoom Articles - Page 19 of 125

WednesdaySep 11, 2024 10:00 am

Rich Countries Dumping Used ICE Vehicles in Developing Countries

As the world strives to rid itself of its reliance on fossil fuels, experts have noticed an alarming trend: developed countries are dumping scores of used fossil-fuel-powered cars in developing nations. These rich countries attract the lion's share of green-energy-related investment and have made significant progress in their efforts to electrify transportation. Unfortunately, the developed world is also exporting a growing number of gas guzzlers it is replacing with electric cars to the underdeveloped world, flooding emerging economies with so many internal combustion engine (ICE) cars that those countries will have trouble cutting their emissions. MIT Mobility Initiative senior fellow…

MondaySep 09, 2024 10:00 am

China Probes Canola Imports from Canada in Response to New EV Tariffs

Just a week after Canada announced that it was imposing import tariffs on Chinese electric cars, aluminum and steel, China launched a probe into canola exports from Canada. The probe could potentially lead to China placing import tariffs on key Canadian exports and escalate the trade war between the two nations. Canada's decision to levy 100% import tariffs on battery electric vehicles (BEVs) manufactured in China essentially locked the east Asian nation out of the North American EV market, as Chinese electric cars are also subject to 100% import tariffs in the United States. With the European Union levying up…

FridaySep 06, 2024 10:05 am

An Overview of Vehicles Pushing Electrification to the Max

With the transportation industry accounting for at least one-third of global emissions, electrifying the world's massive fleet of vehicles will be a critical step toward finally achieving carbon neutrality. To achieve this goal, dozens of established automakers, EV startups and battery companies across the globe are working to pack as much energy as they can into an electric vehicle battery without impacting efficiency or increasing weight. Since electric vehicle performance is intrinsically tied to efficiency, there is a limit to how much energy can be packed into a battery before the extra weight cancels out the range improvements. Even so,…

WednesdaySep 04, 2024 10:00 am

Canada Imposes 100% Import Tariff on China-Made EVs

The Chinese electric vehicle industry has essentially been cut off from the North American market after Canada recently imposed a 100% import tariff on electric vehicles made in China. The move comes weeks after the European Union also imposed import tariffs of up to 38% on Chinese EVs and months after the United States also levied a 100% import tariff, basically locking China out of most of the world's largest EV markets. This series of import tariffs have robbed China of the one advantage that makes its electric cars more desirable: affordability. More than a decade of EV-friendly policies coupled…

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…

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