NewsRoom Articles - Page 40 of 125

MondayAug 07, 2023 3:20 pm

China Takes a Commanding Lead in Worldwide EV Race

China has beaten the United States and taken the lead in the global race to electrification. The eastern Asian nation is home to several successful electric vehicle companies such as Wuling Motors and BYD that have captured a significant portion of the Chinese market and elbowed out major automakers such as Tesla. Battery electric vehicle sales in the country have surged in recent years from only 10,000 units in 2012 to a whopping 4.4 million electric cars on the road last year. The annual electric vehicle sales within this period have increased by 44,000%. Although BEVs account for only 19%…

FridayAug 04, 2023 11:48 am

Toyota Fighting to Gain Ground in China EV Market

For the past several years, Toyota has been the only major automaker that has made few investments in battery electric vehicles (BEVs). Several other established automakers have long announced their intent to electrify their lineups, with companies such as Ford and Mercedes Benz already developing and releasing BEVs into the market. Toyota, on the other hand, has made barely any inroads into the electric vehicle sector, choosing instead to focus on hydrogen fuel cell vehicles as their flagship alternative-energy cars. The Japanese automaker has now announced that after years of sparse investment in EVs, Toyota is now fighting to remain…

ThursdayAug 03, 2023 1:58 pm

EU Approves New Measure to Bump Up EV Chargers Across the Bloc

The European Union has passed a new law that will accelerate the proliferation of electric vehicle chargers and alternative energy refueling stations along major highways in the region. As per the legislation, EU countries will have to meet specific targets by the end of 2025 and 2030. These targets include installing fast charging stations with at least 150 kW of capacity for battery electric cars and vans along every 60 km of the trans-European transport (TEN-T) network. This network is widely considered the European Union’s main transport corridor because of the massive amount of traffic that passes through it annually.…

WednesdayAug 02, 2023 1:52 pm

Sustainable Plastics Help EV Set New Indoor Speed Record

Electric vehicle makers are in a race to increase electric vehicle efficiency by reducing EV weight as much as possible. Heavier electric vehicles require more power to propel their weight, cutting down EV battery range and increasing the need for either frequent charging or more energy-dense batteries. Some automakers are working to achieve increased energy efficiency in electric cars by reducing vehicle weight. Engineers from Saudi Arabia-based petrochemical company SABIC have now developed a lightweight sustainable plastic that was instrumental in setting a new world record for indoor car racing. A sports car equipped with sustainable plastics reached 218.7 kilometers…

TuesdayAug 01, 2023 10:20 am

Tesla to Meet Indian Commerce Minister to Discuss $24,000 EV Production Plans

Representatives from American electric vehicle giant Tesla Inc. (NASDAQ: TSLA) are set to meet with the Indian commerce minister to discuss the possibility of building a factory to supply the Indian market with affordable EVs. According to a report from Reuters, this factory would manufacturer electric cars worth $24,000 for both the local and foreign markets. An individual with direct knowledge on the upcoming meeting informed Reuters that this hypothetical low-cost EV would be an entirely new model. India is one of the most populous nations on the planet, and Tesla could be looking to capture most of the market…

MondayJul 31, 2023 11:52 am

IRA Clause Boosting Local Battery Production in US

A small clause included in the 2022 Inflation Reduction Act (IRA) is boosting local electric vehicle battery production. The Advanced Manufacturing Production Credit clause rewards local manufacturing of battery cells and modules with 10 years of tax credits. These tax credits also extend to electric vehicle batteries recycled in the United States, regardless of their original country of origin. Although America is home to major EV makers such as Tesla and Ford, the development of key EV components, including batteries, often occurs overseas. This reliance on foreign suppliers threatens America’s EV industry’s longevity and could tie American companies to conflict…

FridayJul 28, 2023 11:19 am

Stellantis Could Revolutionize EV Industry with Inverterless Powertrain

Stellantis has partnered with Saft and the French National Center for Scientific Research (CNRS) to develop a novel electric vehicle battery prototype that could revolutionize the EV industry. By combining the functions of the inverter and charger and then integrating them into the EV battery itself, this groundbreaking design makes for a reliable, efficient and relatively affordable EV powertrain. The Intelligent Battery Integrated System (IBIS) is the product of more than four years of intense research. According to Stellantis, the interverless powertrain uses an advanced control system to deliver an alternating current (AC) directly to the electric motor, eliminating the…

ThursdayJul 27, 2023 1:22 pm

As Prices Plummet, Now May Be Time to Buy an EV

Electric vehicle prices are plummeting after close to a decade of significantly higher-than-average prices that made battery electric cars much more expensive than gas-powered cars. Counterpoint Research reports that the drop in EV prices has corresponded with a 32% year-over-year increase in U.S. electric vehicle sales in Q1 2023. One in every seven cars sold during this period was electric, and battery electric cars made up 73% of all EV sales while plug-in hybrids counted for 17%. As EV prices continue to slide into Q3 of the year, the thought of purchasing an electric vehicle has become more attractive to…

WednesdayJul 26, 2023 12:19 pm

Chinese Companies Make Major EV Investments in Brazil

BYD, the largest electric vehicle manufacturer in the world, has announced that it will construct an industrial complex in northeastern Brazil. Headquartered in China, BYD has surpassed Tesla in sales in its local market and is now threatening to challenge Tesla’s supremacy on the global stage. BYD’s global vice president Stella Li made the announcement during a packed event in early July, stating that the company’s dream is to build the northeastern state of Bahia into a center of high technology and innovation. The company will invest $620 million (3 billion Brazilian reals) in constructing a factory in Camacari close…

TuesdayJul 25, 2023 12:31 pm

Tata to Set Up $5B EV Battery Plant in UK

Indian conglomerate Tata Sons has announced that it will construct a massive $5.2 billion gigafactory in the United Kingdom to build electric vehicle batteries. The new factory will significantly boost the local supply of EV batteries in the UK and aid its efforts to replace internal combustion engine vehicles with zero-emission battery electric cars. Tata Sons’ UK gigafactory will create an estimated 4,000 jobs on site and many more up and down the supply chain, injecting much-needed cash into the country amid poor economic conditions. The UK government has lauded the announcement, noting that it would bolster the country’s economy…

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