FridayJun 17, 2022 12:10 pm

Electric Vehicle Manufacturers Ask Congress to Reconsider EV Tax Credit Cap

Although the electric vehicle industry is poised to experience significant growth over the next couple of decades as more people ditch their combustion engine cars for EVs, affordability remains a major problem. A majority of American families simply cannot afford to buy an electric vehicle, and a significant percentage of EV owners had to rely on government subsidies and incentives to buy their EVs. With lithium ore prices on the rise, the supply chain in disarray and the computer chip shortage still continuing, EV production costs are only going higher. For electric vehicles to become as affordable as regular gas-powered…

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ThursdayJun 16, 2022 3:46 pm

Lucid Motors Announces Digital Platform to Facilitate EV Financing

American electric car maker Lucid Motors (NASDAQ: LCID) has unveiled a digital financing platform dubbed Lucid Financial Services to provide Air EV customers in America with leasing and loan purchase options. Lucid Motors has partnered with the Bank of America to provide the financing options. Lucid Motors first announced that production on the Lucid Air EV had begun in September 2021 with deliveries expected to begin in late 2022. Despite struggling to meet production targets because of supply chain constraints coupled with recalls, Lucid’s Air EV has been met with positive reviews. At the moment, the Newark, California-based company is…

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WednesdayJun 15, 2022 12:38 pm

EVs Could Become More Affordable If Price of Lithium Decreases

One thing most consumers can agree on is that electric vehicles are currently too expensive. A small percentage of the population can afford to buy an EV outright, and the industry has depended on government subsidies a great deal to get by. Costly electric vehicle batteries are largely to blame for this. Electric vehicles run on rechargeable lithium-ion battery packs, which are made using a variety of rare and expensive metals such as lithium, nickel, manganese, cobalt and graphite. However, we may soon see cheaper electric vehicles enter the market as the cost of manufacturing them reduces thanks to decreasing…

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TuesdayJun 14, 2022 3:49 pm

BYD Gears Up to Supply EV Batteries to Tesla

Chinese electric vehicle maker BYD has announced that it will begin supplying EV batteries to American electric vehicle giant Tesla. According to a statement from BYD’s executive vice president to broadcaster CGTN, the company is now “good friends” with Elon Musk and is preparing to start supplying his company with electric vehicle batteries. For the past couple of months, there have been rumors about an impending deal between BYD and Tesla, which the Chinese automaker has denied. Last October, reported that BYD had secured a contract for 10 GWh worth of lithium-iron-phosphate (LFP) battery packs and would start deliveries…

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MondayJun 13, 2022 1:46 pm

High Fuel Prices Push Hotels to Install EV Charging Points

For the past couple of years, fuel prices around the world have been on the rise. The coronavirus pandemic upset the already volatile global oil price, and Russia’s invasion of Ukraine significantly disrupted the global energy industry and led to the highest increase in gas and oil prices in a decade. Since 2008, Americans are paying more than $4.11 a gallon for gas for the first time. Hotel chains such as the Hilton are seeing a major opportunity amid the record-breaking oil prices. With drivers across the United States being forced to break the bank whenever they want to fuel…

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FridayJun 10, 2022 12:03 pm

BMW and Ford-Backed Company to Start Testing Solid-State EV Batteries

The lithium-ion battery has been at the heart of the electric vehicle revolution, allowing carmakers to exchange internal combustion engines for electric powertrains. But despite the achievements of li-ion batteries, especially in regard to the development of zero-emission electric cars, they are still a long way from perfect. The average EV battery still has limited range, takes a while to recharge and barely compares to fossil fuels in terms of energy density. That may soon change now that a Colorado-based battery maker has begun producing game-changing solid-state battery cells in a pilot program. Backed by both Ford Motor and BMW,…

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ThursdayJun 09, 2022 3:24 pm

Report Says ICE Vehicle Sales Have Gone into Permanent Decline

It would seem that the age of the internal combustion engine is beginning to draw to a close. After being the main form of vehicle transportation for more than a century, ICE vehicles are poised to be replaced by zero-emission electric cars. According to a new report from Bloomberg New Energy Finance, sales of gas- and diesel-powered vehicles have taken a permanent nose dive as more people opt for plug-in hybrids and battery-electric cars. The report states that plug-in hybrid sales are expected to triple by 2024. Consumers will buy 20.6 million plug-in electric cars in 2025 compared to 6.6…

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WednesdayJun 08, 2022 12:41 pm

The Chevy Bolt to Be Most Affordable EV on American Roads

More than a decade after EV maker Tesla launched the Roadster and kicked off the EV race, electric vehicles are still too pricey for the average consumer. Governments around the world have had to rely on subsidies, tax breaks and incentives to make electric vehicles slightly more affordable, and increase adoption. Industry stakeholders have posited that electric vehicles will be as cheap to produce as internal combustion engine vehicles within the decade, thanks to lower production costs. In a move that is sure to shake up the nascent EV industry, General Motors has announced that it plans to reduce the…

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TuesdayJun 07, 2022 12:24 pm

Ford CEO Predicts Upcoming EV Price War

At the moment, only a small percentage of the population can truly afford to purchase an electric vehicle. The average EV costs at least $30,000 to $40,000, not to mention the cost of purchasing and installing a charger at home. For the past couple of years, governments across the world have provided discounts and incentives to reduce the cost of electric vehicles and increase sales. According to Ford CEO Jim Farley, that situation may come to an end. With the cost of manufacturing electric vehicles steadily reducing, Farley sees a price war on the horizon with the entry of $25,000…

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MondayJun 06, 2022 2:33 pm

Chinese EV Manufacturer WM Motor Files for IPO in Hong Kong

Chinese electric vehicles startup WM Motor has announced plans to list on the Hong Kong Stock Exchange. This makes it the latest electric vehicle maker to list in Hong Kong city. Although the electric car maker didn’t reveal the amount of money it intends to raise in its initial public offering (IPO), sources say WM Motor has a target of around $1 billion. Electric vehicle stocks have become extremely attractive in the past couple of years as climate change has forced countries around the world to turn their eyes to cleaner sources of energy and transportation. Tesla, for instance, became…

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