NewsRoom Articles - Page 39 of 128

MondayOct 09, 2023 10:36 am

Backed by Warren Buffet, BYD Just 3K EVs Shy of Overtaking Tesla Globally

Chinese automaker BYD has drawn threateningly close to Tesla Inc. (NASDAQ: TSLA) in sales and is poised to steal the Texas-based carmaker’s spot as the world’s top electric vehicle maker. Thanks to a drop in Tesla deliveries over the third quarter of the year, BYD is approximately 3,000 electric cars shy of surpassing Tesla in sales. The Warren Buffet-backed Chinese company has been on a roll in China, the largest electric vehicle market on the globe, and has spent the past couple of months pushing Tesla to the ropes. BYD delivered 431,000 battery electric vehicles (BEVs) in Q3 2023 while…

FridayOct 06, 2023 12:09 pm

Attacks Mounted Against EVs in Europe, America Grow

Electric cars are coming under increasing heat from conservative politicians in the European Union as well as former U.S. president Donald Trump. Although the global community now agrees that replacing internal combustion engine cars with zero-emission electric vehicles is critical to achieving climate-change goals, the nascent EV industry has drawn the ire of many conservative politicians. In the United States, calls for electrification brought back memories of cities such as Detroit nearly falling into ruin after the automotive industry left the city in the 1960s. Decades after the three big automotive companies left Detroit, the city is still struggling to…

ThursdayOct 05, 2023 12:47 pm

Five EV Models the Affluent Have Been Buying

After nearly a decade of dominating the electric vehicle industry, Western automakers are pushing back against Tesla’s dominance in the high-end EV segment. Patryk Doornebos from Car Triple notes that although Tesla is still a go-to option for drivers interested in high-end electric cars, the segment has seen the introduction of pricey EV models from companies such as Lucid and Porsche, which are giving Tesla a run for its money. The Tesla Model S was crowned the best-selling luxury sedan in the United States in 2016 and has enjoyed plenty of demand from affluent consumers since. Tesla began deliveries of…

WednesdayOct 04, 2023 3:47 pm

The Need for Affordable EVs Puts Legacy Automakers in a Bind

Electric cars have been quite expensive since the industry’s advent over a decade ago, locking out most consumers from the EV market and hindering electric vehicle adoption. For the United States and other nations across the globe to meet their carbon-emission goals, electric cars will have to be significantly cheaper than they currently are to spur EV adoption. However, Tesla and a few Chinese startups that hit the electric vehicle industry running several years ago now enjoy a massive lead in the EV market. Carmakers such as Toyota and Ford, which previously led the pack, are now scrambling to catch…

TuesdayOct 03, 2023 1:58 pm

Germany Suspends EV Solar Charging Subsidy Due to Overwhelming Demand

Just one day after launching a subsidy program for EV solar charging, Germany was forced to stop the subsidy scheme amid booming demand from EV drivers. The plan aimed to subsidize payments for the installation of rooftop solar panels for charging electric vehicles as well as charging and storage points. Funding worth $317 million (300 million euros) from Germany’s transport ministry would have provided subsidies of up to $10,762 (10,200 euros) for homeowners and EV drivers to install private solar panels and charging stations at home. However, the program was unable to keep up with the massive influx of consumer…

MondayOct 02, 2023 11:59 am

Tesla Installs More Magic Dock Superchargers to Ease Access

Tesla has again expanded access to its Magic Dock Superchargers for non-Tesla drivers in the United States. The Texas-based electric maker owns the largest network of superchargers on the globe and only allowed Tesla drivers to use the network for the majority of its history. While level 1 and level 2 chargers can charge an EV from 0 to 80% in around 40 to 50-plus hours and 4 to 10 hours respectively, a Tesla Supercharger can add up to 200 miles of range in only 15 minutes. Access to the Supercharger network allowed Tesla drivers to charge their cars at…

FridaySep 29, 2023 3:12 pm

Exxon Mobil Prepares for Pivot as EVs Threaten to End Demand for Gasoline

The fate of many oil producers was sealed in stone when the global community pledged to replace fossil-fuel vehicles with zero-emission battery electric vehicles. While it was unlikely that these companies would fold as the world moved away from fossil fuels, oil producers would have to pivot their entire business strategies to stay in line with global climate change goals. Exxon Mobil, one of the largest international publicly traded gas and oil companies, is one of the fossil-fuel producers adjusting its strategy to fit in an EV-dominant future. The Houston, Texas-headquartered company recently announced that it would shift from its…

ThursdaySep 28, 2023 2:29 pm

EU Wants e-Fuel Vehicles Climate-Neutral for Sales to Continue

The European Union is poised to set a requirement that e-fuel vehicles sold beyond 2035 be 100% carbon neutral. A draft document revealed that vehicles powered by e-fuels will have to be completely climate neutral in order to be sold in EU member nations. The EU’s current climate policies require that all vehicles sold in the regional bloc from 2035 have zero carbon emissions at the tailpipe. However, although all EU member nations agreed to the climate policy this year, Germany argued that e-fuel cars should be exempted from the policy banning the sale of new CO2-emitting vehicles from 2035.…

WednesdaySep 27, 2023 12:05 pm

What China’s EV Graveyards Can Teach the EV Industry

China’s electric vehicle market is the largest and most competitive on the globe, attracting hundreds of electric vehicle startups and achieving an unprecedented rate of electric vehicle adoption. Significant government support, coupled with intense competition, has enabled EV prices in China to drop to unprecedented levels, resulting in a surge in EV purchases in China and the European market. However, a flurry of reports over the past month has indicated that the world’s largest electric vehicle market is also home to graveyards for abandoned EVs. Recent news articles and videos have shown that thousands to tens of thousands of electric…

TuesdaySep 26, 2023 2:38 pm

EV Prices Drop as Inventory Levels Grow

After more than a decade of high electric vehicle prices, oversupply in the nascent EV market is causing EV prices to plummet. Average Tesla prices have fallen by close to 20% over the past year, and other EV makers in other major markets are cutting their prices to remain competitive in an increasingly saturated market. For the majority of the electric vehicle industry’s lifetime, electric cars have been significantly more expensive than comparable fossil fuel-powered cars. This has undoubtedly hampered EV adoption among most drivers and limited electric vehicle ownership to the select few with plenty of disposable income. However,…

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