NewsRoom Articles - Page 20 of 124

FridayJul 12, 2024 10:00 am

US Dealers Sue Hyundai, Alleging Inflated EV Sales Figures

South Korean automotive giant Hyundai Motors America Corp (HMA) is fielding a lawsuit from a group of Hyundai dealers in the United States that accuse the company of inflating its electric vehicles sales figures. Filed in Chicago federal court by Illinois-based Napleton Aurora and its affiliates, the suit alleges that Hyundai Motors has retaliated against dealerships that refused to inflate their EV sales figures as well. According to Napleton Aurora Imports and the other franchises that filed the suit, Hyundai Motor pressured vehicle dealers in the U.S. to inflate their sales numbers by misusing inventory codes used for “loaner” cars.…

WednesdayJul 10, 2024 10:00 am

New EU Tariffs on Chinese EVs Take Effect

In a move predicted to stoke tensions between the European Union (EU) and China, the EU has levied a 37.6% import tariff on electric vehicles manufactured in China. European Union leaders first announced the provisional tariffs several weeks ago as part of efforts to protect European automakers from Chinese automakers supported by billions of dollars in government subsidies. With the U.S. market largely off limits to Chinese automakers even before the United States levied a 100% tariff on EV imports from China, Chinese carmakers turned to the EU and began exporting their affordable electric cars to Europe. EU leadership quickly…

MondayJul 08, 2024 10:00 am

British Start-Up Unveils EV Battery That Can Recharge in Under Five Minutes

A startup based in the United Kingdom has developed an electric vehicle battery that can reportedly recharge in less than five minutes. The recently unveiled EV battery could finally solve one of the most challenging aspects of owning an EV: the vehicle’s batteries take too long to charge. While every fossil fuel-powered vehicle can refuel in only a couple of minutes, EVs take anything from 30 minutes to several hours to recharge. Even using a Tesla Supercharger can take longer than refueling a vehicle due to the limited ratio of super-fast chargers to electric cars. If Cambridge-based start-up Nybolt successfully…

FridayJul 05, 2024 10:00 am

Ford to Develop Next-Gen EV Platform at Long Beach

Ford has chosen Long Beach, California, as the official location for the construction of a plant where the U.S. automaker will develop its new electric-vehicle platform. According to Ford, a Skunkworks team based at the Long Beach facility will be tasked with building affordable electric cars on Ford's next-generation, electric-vehicle platform. With the U.S. market and other large EV markets reeling from falling EV demand due to high costs, lower-priced EVs will be key to Ford remaining competitive in America's shrinking EV market. During a February call with investors, Ford CEO Jim Farley revealed that the automaker had been developing…

WednesdayJul 03, 2024 10:00 am

PEW Research Confirms Waning EV Interest Among Americans

New research has revealed that electric-vehicle demand among American drivers has waned for the first time in four years. The research confirms what many automakers have been experiencing for the past several months: the nascent EV industry is losing the steam it has gathered over the last decade. According to PEW Research, only 3 out of 10 U.S. motorists are now considering buying a battery electric vehicle (BEV) as their next driver. This represents the first time since 2020 that consumer demand for BEVs in the United States has seen a notable drop. The analysis notes that the 9% drop…

MondayJul 01, 2024 10:00 am

Stellantis Could Halt EV Production in UK Due to Unhelpful Government Plans

Stellantis has revealed that it could halt electric vehicle (EV) production in the United Kingdom if the government doesn't take steps to increase EV demand in the country. According to Stellantis boss Maria Grazia Davino, the way the UK government is handling the transition to electric cars is risking its business in the region. Stellantis owns several popular auto brands including Citroën, Peugeot, Vauxhall, Opel, Maserati, Dodge, Chrysler, Jeep, Fiat and Alfa Romeo. With major markets such as the UK, European Union and the United States pledging to cut road emissions, Stellantis is working to electrify its vehicle lineups and…

FridayJun 28, 2024 10:00 am

China, European Union to Dialogue on EV Tariffs

Top officials from China and the European Union have revealed that the two major EV markets are holding talks on electric vehicle tariffs. Depending on how the discussions go, Chinese automakers may be spared from a series of tariffs that would have made their EVs much more expensive in Europe. Chinese EVs were set to lose their unique affordability in the European Union after EU leaders announced that they were considering levying provisional tariffs on electric vehicle imports from China. This came months after the European Commission began investigating whether the Chinese government was artificially lowering EV prices undercutting European…

WednesdayJun 26, 2024 10:00 am

Think Tank Says China Invested at Least $230B to Establish EV Industry

Research from a Washington-based think tank has revealed that China invested at least $230 billion into its electric-vehicle industry to “flood the market” with more affordable Chinese-made battery electric vehicles (BEV). The analysis is in line with the European Commission's sentiment on the effect of Beijing’s subsidies on the global BEV industry. Furthermore, the Center for Strategic and International Studies (CSIS) notes that this figure is a “highly conservative estimate” of the funds China has pumped into its EV sector. The east Asian nation’s investment in electric cars dwarfs anything any other country has spent on new energy vehicles over…

MondayJun 24, 2024 10:00 am

China Targets EU Farmers in Response to Tariffs on Chinese EVs

As many experts predicted, China has retaliated against the European Union’s recent decision to levy provisional tariffs on Chinese electric vehicles. The Commerce Ministry in China launched an antidumping investigation into pork exports from Europe this week, a move many pundits believe is in response to the EU’s tariffs on electric cars imported from China. Tensions between China and the EU began last year when the European Commission began investigating the influx of cheap Chinese electric cars into the regional bloc. EU leadership claimed that China had artificially powered electric vehicle prices by pumping billions of dollars’ worth of subsidies…

FridayJun 21, 2024 10:00 am

Used Electric Vehicle Prices Continue Slumping

Secondhand electric vehicle prices have maintained their downward trend several weeks after they first fell; they are now costing customers several thousand dollars less compared to similar vehicles with internal combustion engines. For drivers who were interested in switching to battery electric vehicles (BEVs) but were held back by prices, this represents the best time to finally ditch their fossil-fuel powered vehicles and replace them with BEVs. A recent analysis published by iSeeCars has revealed that with the price difference between the BMW 3 Series and a secondhand Tesla Model 3 shrinking rapidly, the premium that has been associated with…

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