NewsRoom Articles - Page 35 of 128

MondayDec 04, 2023 12:52 pm

EV Batteries Could Soon Be Made from Used Tires

Electric vehicle batteries will be key to the United States and other nations, electrifying transportation sectors and cutting greenhouse gas emissions in the robust industry before climate change causes irreparable damage to the ecosystem. The batteries produce zero emissions and are powered by electricity rather than fossil fuels, making them the perfect energy source for alternative energy vehicles of the future. Recent advancements by a Chilean company could significantly reduce EV battery production costs and help make electric cars more affordable. T-Phite is using a process called pyrolysis, which involves subjecting tires to extreme heat to break them into smaller…

FridayDec 01, 2023 12:04 pm

Attacks Against EVs by Republicans Could Fall Flat as Key States Reap Industry’s Benefits

The liberal left has long been a major supporter of electrification and green-energy transition initiatives in general in the United States. With the Senate and White House in the hands of the Democratic Party, the Biden administration has invested billions of dollars into electrifying America’s vehicle fleet and building out a network of charging stations. On the other end of the spectrum, the GOP hasn’t been as supportive of the nascent electric vehicle sector, especially in states that are poised to lose business as the production of internal combustion engine cars winds down. On top of eliminating thousands of jobs,…

ThursdayNov 30, 2023 1:51 pm

Nissan Converts Leading Crossovers to EVs

Last week, Japanese carmaker Nissan announced that it planned to convert its best-selling fossil fuel crossover models in the United Kingdom — the Juke and Qashqai — into electric cars. Sources with knowledge of the matter say Nissan plans to invest around $1.4 billion into the electrification project. Nissan has reportedly had talks with UK Prime Minister Rishi Sunak as well as Chancellor Jeremy Hunt, and the project may receive significant government funding. The carmaker would manufacture the electrified crossover models at the Sunderland, UK plant where it currently builds the soon-to-be discontinued Nissan Leaf. With Nissan planning to halt production…

WednesdayNov 29, 2023 2:39 pm

Ford Dials Back its EV Battery Production Plans Amid Dropping Demand, Rising Labor Costs

American automaker Ford is scaling back plans to build a massive electric vehicle plant in Michigan amid rising labor costs and decreasing demand for electric vehicles. Consumer demand for electric vehicles has dropped significantly in recent months, thanks to high EV costs coupled with rising interest rates. These issues are forcing automakers such as Ford and Tesla to make significant changes in an attempt to remain competitive. However, even lower prices and government incentives haven’t been enough to convince buyers to purchase battery electric cars (BEVs). Car dealerships are reporting rising numbers of unsold electric cars on their lots, and…

TuesdayNov 28, 2023 12:37 pm

The Leasing Industry Could Help in Availing Used EVs, Deepening EV Penetration

The auto vehicle leasing industry may be instrumental in pushing electric vehicle penetration in the European Union by allowing tens of millions of households to tap into the growing used-EV market. Experts predict that at current electrification rates, EV units from today will hit the used vehicle market about 2035, giving 33 million EU households access to secondhand EVs in slightly more than a decade. According to a new Transport & Environment (T&E) report, this could increase by 56% to 51 million if the leasing industry rapidly increases its uptake of electric vehicles. By taking over EV-associated acquisition and maintenance…

MondayNov 27, 2023 2:28 pm

Goldman Sachs Says EV Battery Costs are Dropping Quicker Than Initially Expected

A recent report from Goldman Sachs Research has revealed that electric vehicle battery costs are falling much faster than experts initially anticipated. EV batteries will play a key role in transitioning the transportation sector from fossil fuels to clean energy, but scarce raw materials coupled with surging demand have significantly increased EV battery production costs. This has resulted in battery and EV makers passing on extra costs to customers and charging premium prices for their products. As many countries worldwide accelerate their green-energy transition plans, most pundits anticipated demand for EV batteries would far surpass the supply and cause EV…

WednesdayNov 22, 2023 2:02 pm

Mopeds, e-bikes Are Quietly Suppressing Oil Demand in Key Markets

Most countries have pledged to phase out the use of internal combustion engine (ICE) cars in favor of battery electric vehicles (BEVs) as part of global efforts to cut greenhouse emissions and mitigate climate change. With governments around the world investing millions to hundreds of millions of dollars in the development of EV infrastructure and to spur electric vehicle sales, experts predict that demand for fossil fuels such as oil will peak at the end of the decade. However, recent data has revealed that electric cars are fielding overwhelming competition from mopeds and e-bikes in several key markets. These small…

TuesdayNov 21, 2023 2:39 pm

New Tax Credit Makes Used EVs More Appealing

A new tax credit for used cars that qualify as “clean vehicles” is making used electric cars much more appealing to cost-conscious drivers. While used-car prices are estimated to have dropped by as much as 8% year-over-year, secondhand electric vehicle prices are still higher than they were before the pandemic. New electric cars tend to be too pricey for the average consumer, meaning many drivers can only transition to electric cars by buying from the secondhand market. But with used EV prices remaining higher than prepandemic levels, many prospective EV drivers are holding back from making the plunge and going…

MondayNov 20, 2023 3:44 pm

Exxon Mobil Acquires Drill Operation in Arkansas to Process Lithium

Oil giant Exxon Mobil has announced the acquisition of a drill operation in Arkansas that will expand its efforts to enter the lithium production side of the electric vehicle supply chain. The oil and gas company plans on producing lithium, a mineral critical to the development of electric vehicle batteries as soon as 2027. Exxon Mobil decided to venture into the electric-vehicle battery-metal production segment. The company started by purchasing a whopping 120,000 acres of Smackover Formation, a geological site located in southern Arkansas with rich lithium deposits. It now plans on launching a drilling operation on the massive site…

FridayNov 17, 2023 11:33 am

Drop in Demand Expected as European EV Buyers Wait for Less Costly Models

Some experts predict that electric vehicle demand in Europe will drop as potential EV drivers in the region wait for electric cars to become more affordable. Many European Nation countries have pledged to electrify their vehicle fleets over the next few decades as part of a coordinated effort to curb global warming and climate change. Electric cars are the supposed successor to internal combustion engine vehicles, but their high prices have them almost unaffordable for the average European driver. The region has seen a surge of cheap electric cars from China in recent months that partly contributed to a 47%…

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