NewsRoom Articles - Page 42 of 130

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,…

MondaySep 25, 2023 1:36 pm

Why Oil Production Grows Despite Accelerating EV Uptake

Despite a recent surge in electric vehicle purchases in major markets such as Europe, the United States and China, data shows that global oil production is still rising. Replacing fossil fuel cars with EVs represents a core component of worldwide efforts to combat climate change because electric vehicles do not use fossil fuels or produce tailpipe emissions. Factors such as high purchase prices and range anxiety have consistently hampered EV adoption, but a recent drop in the prices of major electric vehicle brands such as Tesla has spurred an increase in EV purchases. However, even though EV adoption is on…

FridaySep 22, 2023 12:36 pm

Singapore Startup Could Leverage Refrigerated Trucks to Ease into Chinese EV Market

A Singaporean startup is looking to break into China’s overcrowded electric vehicle market by developing refrigerated electric trucks for delivering pharmaceuticals and food. Singauto Technology recently completed a $20 million initial funding round with investors and is poised to reveal its electrified cold storage truck at an upcoming Beijing event. China’s electric vehicle market is the largest on the globe and currently boasts a 23% electric vehicle share. Thanks to significant financial support from the Chinese government and the country’s massive population, more than 300 local electric vehicle companies are battling for supremacy in the world’s most expansive EV market.…

ThursdaySep 21, 2023 10:16 am

Tesla’s Quiet Breakthrough Could Reinvent How Vehicles Are Made

American carmaker Tesla Inc. (NASDAQ: TSLA) has been at the forefront of innovation in the automobile industry for the past decade or so, almost singlehandedly leading the introduction of cutting-edge software in EVs and developing a variety of next-generation electric cars. According to a recent Reuters report, Tesla has now made a breakthrough in vehicle manufacturing that could allow it to cut its production costs by as much as 50%. Electric cars are poised to replace conventional fossil-fuel cars over the next few decades. However, high purchase prices have consistently dampened electric vehicle demand. The average vehicle is $15,000 to…

WednesdaySep 20, 2023 12:50 pm

Research Suggests EV Sales Could Surpass 60% of Global Vehicle Sales by 2030

New research published by three different institutions indicates that global electric vehicle sales could surpass 60% of total vehicle sales by 2030. With Climate Week NYC fast approaching, three separate research pieces from the EEIST Project, Systems Change Lab and RMI predict a massive surge in EV sales over the rest of the decade. RMI analysis found that worldwide EV sales are poised to meet or even surpass the most overzealous timelines for achieving net-zero emissions. In partnership with the Bezos Earth Fund, RMI’s research found that EV sales may make up more than two-thirds of the global market share…

TuesdaySep 19, 2023 1:54 pm

EU Starts Investigating Chinese EV Subsidies as Imports Skyrocket

European Union authorities are launching a probe into China’s government support for local electric makers amid a surge in European imports of Chinese electric cars. A global race to electrification is well underway ,and China seems to be winning. The East Asian nation represents the largest electric vehicle market on the globe and is home to some of the world’s best-selling EV companies. During a recent European parliament meeting, European Commission President Ursula Von der Leyen said that China has used massive state subsidies to artificially lower EV prices and flood the global EV market with “cheaper electric cars.” Coupled…

MondaySep 18, 2023 11:55 am

Energy Secretary Gains Firsthand Experience of EV Charging Challenges During Road Trip

U.S. Secretary of Energy Jennifer Granholm experienced the challenges of public electric vehicle charging firsthand when she set off on a four-day road trip using an electric car. America is jumping headfirst into electrification, along with plans to invest billions of dollars in accelerating EV adoption and building out a nationwide network of public charging infrastructure. However, the country’s public EV infrastructure can barely support the current number of electric cars on the road. Most charging stations are concentrated in California and other urban regions and are often unreliable, leading to a poor charging experience for many drivers. Although EV…

FridaySep 15, 2023 2:31 pm

Electrified Roads Could Address EV Charging Concerns

Electrified roads may be the key to addressing consumer issues with electric vehicle charging and range anxiety. Automakers have spent the past couple of years producing electric cars with increasingly longer ranges, but charging electric vehicles is much less convenient compared to refueling a conventional petrol or diesel-powered car. While EV owners can install private EV chargers at home, plenty of American drivers do not have private garages or driveways to accommodate private chargers. Furthermore, America’s public EV charging infrastructure is not sufficient or reliable enough to support the existing number of EV drivers, let alone mass electric vehicle adoption.…

ThursdaySep 14, 2023 9:00 am

IAA Mobility 2023 Showcases Cutting-Edge EV Technologies

Automakers from across the world showcased innovative and cutting-edge electric vehicle technologies during the recently concluded IAA Mobility 2023 in Munich. The largest mobility festival in the world, IAA Mobility 2023 ran Sept. 5–10, 2023, and attracted multitudes of carmakers from nations such as Germany and China. Rather than exhibit their efforts at transforming existing vehicle lines into electric vehicles, carmakers displayed next-generation technologies for EVs of the future. This included extensive display screens, augmented reality, 3D printing capabilities for modern EVs for urban regions and novel types of steering wheels. Some of the next-gen electric cars showcased at the…

WednesdaySep 13, 2023 1:07 pm

Upcoming Book Reveals How Musk Was Persuaded to Make $25,000 Mass Market EV

An upcoming book by Elon Musk’s biographer will detail Tesla's long and bumpy road to the development of a $25,000 mass-market electric vehicle. The road to Tesla’s affordable mass market EV has been a bumpy one, autobiographer Walter Isaacson says, and Musk often put roadblocks ahead of his own plan. In a recent interview with Axios, Isaacson revealed that Musk vetoed his own plan for an affordable electric car repeatedly in favor of robo taxis. It was only when Tesla executives who weren’t as enthusiastic about robo taxis convinced Musk to hedge his bets on both affordable EVs and robo…

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