NewsRoom Articles - Page 2 of 101

WednesdayApr 03, 2024 10:00 am

China Accuses US at WTO of ‘Discriminatory’ Electric Vehicle Subsidies

China is accusing the United States of providing “discriminatory” electric vehicle subsidies and has begun proceedings at the World Trade Organization. The electric vehicle subsidies in question are part of the 2022 Inflation Reduction Act (IRA) and are meant to boost the growth of a domestic electric-vehicle-battery supply chain while limiting America's reliance on China. U.S. lawmakers sought to achieve this goal by making battery electric cars with battery components manufactured in China, North Korea, Iran and Russia ineligible for federal tax credits worth $3,500 to $7,500. Only drivers buying electric vehicles with battery components manufactured in the United States or…

MondayApr 01, 2024 10:00 am

Nissan Sets Sights on Slashing EV Production Cost by 30% by 2030

Japanese carmaker Nissan has set its sights on cutting the cost of producing battery electric vehicles by close to one-third by the end of the decade. The move is designed to help the company compete against Chinese manufacturers. The automaker sold a whopping 3.4 million cars worldwide in 2023 and is looking to boost its vehicle sales by an additional million units over the next three years. Nissan’s plan to reduce electric vehicle production costs will involve launching 30 new models through 2026, with 16 of those being electric cars. If Nissan’s plan is successful, electric cars will account for…

WednesdayMar 27, 2024 10:00 am

US Announces Strict Emissions Limits for Cars in Move Boosting EVs

The Biden administration has unveiled the strictest vehicle exhaust emissions limits in North America’s history to encourage the accelerated development and adoption of battery electric cars. Last week, the U.S. Environmental Protection Agency (EPA) announced the finalized national pollution standards for medium-duty vehicles, light-duty trucks and passenger cars developed from the year 2027 to 2032 and beyond. Dubbed the Multi Pollutant Emissions Standards for Model Years 2027 & Later Light-Duty and Medium-Duty Vehicles, the standards would prevent the creation of more than seven billion tons of carbon emissions in the country over the next three decades and provide an estimated…

MondayMar 25, 2024 10:00 am

Chinese-Made EVs Now Come with Onboard Camera Drones

Chinese vehicle manufacturers have begun incorporating camera drones into their electric vehicles to give customers great overhead shots of themselves while they drive. For example, BYD brand YangWang is now equipping its Yangwang U8 luxury SUV with a modified DJI Mavic drone that comes with three spare batteries. The drone will be controlled via the DJI Fly app on the hybrid SUV’s infotainment center and reside in a dedicated roof space when not in use. China’s electric vehicle industry has been at the forefront of innovation and creativity in recent years as dozens of electric vehicle companies in the country…

FridayMar 22, 2024 10:00 am

EV Debacle Costs Hertz CEO His Job

American car rental giant Hertz has replaced its CEO following the electric car debacle that saw the company pledge to purchase up to 100,000 battery electric vehicles (BEVs) in October 2021 as part of companywide efforts to electrify its vehicle fleet before selling off 20,000 EVs just two years later. Hertz had plans to buy 100,000 Tesla EVs followed by 175,000 electric cars from General Motors and an additional 65,000 from Polestar. However, Hertz found that the costs involved in running, maintaining and repairing electric cars were more than initially projected. Consequently, the company decided to offload one-third of its…

WednesdayMar 20, 2024 11:00 am

Tesla to Bump Up Model Y Prices in Selected European Markets

Texas-based electric vehicle giant Tesla has announced that it will increase Model Y prices in select European markets by around $2,177 beginning on March 22, 2024. The announcement comes just days after Tesla said on social media platform X that it would raise prices for the Model Y electric car in the United States by $1,000 from next month. On March 1, 2024, the pioneering EV maker increased prices for the long-range and rear-wheel drive variants of the Model Y by $1,000 to $48,990 and $43,990 respectively. Although Tesla has been the top-selling battery electric vehicle (BEV) company on the…

WednesdayMar 20, 2024 9:45 am

Life Electric Vehicles Holdings Inc. (LFEV) Is ‘One to Watch’

Life EV Group in December 2023 announced its acquisition of a 40% interest in LEV Manufacturing through a share exchange LEV Manufacturing Inc. in July 2023 acquired Serial 1 Cycle Company, an e-bike maker founded by Harley-Davidson In February 2022, the company announced a name change to Life Electric Vehicles Holdings Inc. In November 2021, Second Street Capital Inc. merged with Life Electric Vehicles Holdings Inc. Life Electric Vehicles Holdings (OTC: LFEV) (d/b/a Life EV Group), along with its subsidiaries, is a developer, manufacturer and distributor in the light electric vehicle industry. The company’s business model focuses on the launch,…

MondayMar 18, 2024 11:30 am

Chinese Tech Giant Xiaomi Starts Selling EVs This Month

Chinese tech giant Xiaomi has announced that it will start selling its electric vehicles later this month. When Xiaomi unveiled its first-ever battery electric vehicle — the Speed Ultra 7 (SU7) — in 2023, the company's chief executive Lei Jun said that the smartphone manufacturer planned to become one of the top five automakers on the globe. Xiaomi will invest a whopping $10 billion into the automobile segment over the next decade in its quest to achieve those ambitious goals. According to Lei, the SU7 is powered by “super electric motor” technology that, at zero to 100kph in 2.78 seconds…

FridayMar 15, 2024 11:30 am

NYT Report Shows Disinterest in EVs Still Rife in US

Despite significant government and corporate efforts to push electric vehicle adoption, many Americans are disinterested in purchasing battery electric vehicles (BEVs). That said, battery electric vehicle (BEV) sales in the country are on the rise, and BEVs currently account for nearly 10% of all new vehicle registrations. Hybrid electric cars are more popular among consumers and have higher adoption rates because they allow drivers to reduce their emissions without ditching internal combustion engine cars completely. However, a recent New York Times report has found that while states such as California have significantly high electric-vehicle adoption rates, with cities such as…

WednesdayMar 13, 2024 12:15 pm

Hertz’s EV Selloff Boosts Used-EV Market

In late 2021, car rental giant Hertz ordered around 100,000 battery electric vehicles (BEVs) worth $4.2 billion from Tesla. The purchase gave Hertz the largest electric vehicle fleet in North America and was a great sign for the nation's fledgling electric vehicle industry. If a fleet manager such as Hertz bought into the electric-vehicle dream, it could significantly increase access to the vehicles among the general public, help drivers become more familiar with new EV technology and maybe even increasing the chances of drivers purchasing an EV. However, Hertz announced that it was selling off a large chunk of its…

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