MondayJun 10, 2024 10:00 am

Used EV Sales Surge Despite Dip in New Vehicle Sales

While new electric vehicle sales have been declining for several months amid high interest rates and purchase prices, green-energy proponents could draw some comfort from the fact that consumers are turning to the used-EV market in droves. Thanks to a confluence of factors, including falling prices in the secondhand electric-vehicle market along with tax breaks, used EVs are seeing a resurgence in sales. Buying a used vehicle is the only way most American drivers will be able to own an EV. With the average new electric car costing at least $10,000 more than a similar fossil-fuel vehicle, the majority of…

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MondayJun 10, 2024 9:45 am

Mullen Automotive Inc. (NASDAQ: MULN) Class 3 EV Truck Receives CARB Certification, Joins Class 1 EV Van in Meeting Stringent Emission Standards

CARB certification is awarded to vehicle manufacturers that meet specific emissions standards in compliance with CARB regulations CARB is charged with protecting public from harmful effects of air pollution, developing programs and actions to fight climate change “Having both our Class 1 and Class 3 commercial EVs now CARB and EPA certified will continue to drive sales in all states across America,” says Mullen CEO With environmental concerns becoming an increasing priority, more states, companies, and consumers are paying attention to — and prioritizing — environmentally friendly products and practices. Mullen Automotive (NASDAQ: MULN), an emerging EV manufacturer, shares this commitment to being…

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FridayJun 07, 2024 10:00 am

Study Shows UK Drivers Have Limited Options of Used EVs

A report by Auto Trader has found that the used-vehicle market in the United Kingdom has a shortage of affordable electric cars. According to Auto Trader, just 10,000 of the second-hand EVs on its online marketplace are currently trading at under £15,000 ($19,000), compared to a whopping 350,000 used fossil-fuel cars within the same price range. For the average consumer, the lack of affordable used electric vehicles is a nigh-immovable roadblock to EV ownership. New electric-vehicle prices are still too high for regular drivers and high interest rates coupled with rising living costs have made it even more costly to…

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WednesdayJun 05, 2024 10:00 am

Small EVs Could Break Dominance of SUVs

Micro-electric vehicles could be the smoking gun that finally breaks the dominance of SUVs (sports utility vehicles) on American roads. Unlike consumers in the European Union, American drivers have repeatedly shown that they prefer larger vehicles, such as SUVs and pickup trucks, over smaller cars, making them less likely to purchase regular-sized electric cars. The International Energy Agency (IEA) estimates that sports utility vehicles accounted for a whopping 50% of global vehicle sales last year. Demand for SUVs and similar large vehicles is on the rise, and the IEA notes that the transition to “larger and heavier” vehicles is one…

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MondayJun 03, 2024 10:00 am

US Data Suggests EV Demand Slowdown Could Be Shortlived

The recent drop in electric vehicle demand that has left many automakers rethinking their electrification plans may be short-lived. New data shows that while the drop in EV sales may have forced major carmakers such as General Motors (GM) and Ford to scale down their plans amid mounting losses in their electric car divisions, the slowdown may not be as bad and won't last as long as previously predicted. To help cut emissions from the transportation segment, the Biden administration invested tens of billions of dollars into developing America's nascent electric-vehicle sector and building a network of public charging infrastructure…

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FridayMay 31, 2024 10:00 am

German Automakers Wary of Reprisals If EU Imposes Tariffs on Chinese EVs

German automakers say the Biden administration's move to levy 100% tariffs on electric vehicles made in China could lead to reprisals from the Chinese government if the European Union follows the U.S.’s example and imposes similar tariffs. The tariffs are part of a package of measures designed to protect U.S. manufacturers from more affordable Chinese imports and will be instrumental in preserving America's domestic auto industry as it transitions to electric vehicles. With the EU dealing with an influx of cheap electric cars from China that are already making it difficult for European carmakers to compete in the nascent EV…

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WednesdayMay 29, 2024 10:00 am

Musk Voices Opposition to American Tariffs on EVs from China

In a surprising move sure to leave many eyebrows raised, Tesla CEO Elon Musk has announced that he opposes the recent tariffs levied on the Chinese electric vehicles by President Joe Biden's administration. While speaking to a Paris technology conference via video, the controversial billionaire said neither he nor Tesla asked for the Chinese EV tariffs, which were passed only a few days before the conference. The new rates will see Chinese car makers pay 100% tariffs for every electric vehicle that enters American ports, essentially making it impossible for companies such as BYD, XPeng and Nio to sell their…

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FridayMay 24, 2024 10:00 am

Uber Gives $6,350 Discounts to London Drivers Wishing to Buy EVs

Rideshare giant Uber has announced that it will provide drivers with up to $6,350 in discounts to obtain battery electric vehicles (BEVs) as it races to meet its previously set zero-emission targets. In 2017, the leading technology company pledged that all its London drivers would be using electric vehicles by next year. However, with electric-vehicle adoption slowing down significantly in recent months because of high prices, Uber has been forced to provide its London drivers with thousands of dollars in discounts to encourage them to transition to EVs and ditch their fossil-fuel cars. Drivers will receive discounts for both new…

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WednesdayMay 22, 2024 10:00 am

Nio Unveils EV to Rival Tesla’s Model Y

Chinese electric vehicle manufacturer Nio Inc. (NYSE: NIO) has debuted the first electric car in its Onvo brand as a potential competitor to Tesla's best-selling unit, the Tesla Model Y. Currently the most popular battery electric vehicle (BEV) on the globe, the Model Y costs $42,990 and is practically unaffordable to the average driver. However, the new Nio L60 costs more than 10% less than the Model Y at a starting price of $30,465 and offers a solid opportunity for Nio to attract drivers who want to transition to an EV but aren't willing or can't afford to buy a…

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MondayMay 20, 2024 10:00 am

President Biden Slaps 100% Tariff on EVs from China

In a move sure to escalate the ongoing trade war between the United States and China, President Joe Biden has announced that his administration is levying a 100% tariff on battery electric vehicles (BEVs) manufactured in China to protect local automakers from cheap Chinese electric cars. According to sources, the move is a preventative measure designed to prevent Beijing-subsidized cheap electric cars from proliferating America's nascent electric vehicle market. It is part of a group of measures designed to protect manufacturers in the U.S. from cheap imports. For the past few decades, one of China's main tactics has been to…

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