NewsRoom Articles - Page 46 of 136

FridayOct 20, 2023 3:27 pm

Tesla’s Dominance of US EV Market Slips in Q3

Tesla has been the electric vehicle industry’s top-performing company for most of the sector’s existence, pioneering the modern electric vehicle and selling more EVs than other automakers. However, after basically running the EV industry for more than a decade, Tesla has been forced to contend with significantly increased competition in major markets such as the United States and China. Data shows that the company’s electric vehicle market share in the U.S. during Q3 2023 dropped below 50% compared to almost 65% over the same period in 2022. Even though Tesla saw its EV sales soar by close to 20% in…

ThursdayOct 19, 2023 1:14 pm

Game Developer Announces Debut of EV e-Racing Offering

Animoca Brands has announced it will launch an electric vehicle e-racing offering titled Formula E: High Voltage on Oct. 19, 2023. Developed via a partnership between Aminoca Brands and Amber, the Web3 EV racing game will leverage environmentally friendly blockchain technology to grant players and fans digital ownership of their in-game items. These items will come as non-fungible tokens (NFTs) with each Formula E: High Voltage player receiving four NFTs (two drivers and two cars) when they sign up. With digital ownership of their NFTs, players will be able to take greater control over their racing team and electric race…

WednesdayOct 18, 2023 1:49 pm

Statistics Show ICE Vehicle Fires 20 Time More Likely Than EV Fires

With electric vehicle adoption picking up steam in major markets such as the United States, there have been increasing reports of EVs catching fire and requiring gallons of water to put out. Extinguishing a regular car fire takes around 1,000 to 2,000 liters of water while an electric car fire can take up to 150,000 liters of water to be put out. The potential for lithium-ion batteries to overheat and catch fire, coupled with the insane amount of water needed to put out electric vehicle fires, has raised fears that electric cars may present a significant danger to urban populations.…

TuesdayOct 17, 2023 2:46 pm

Why Electric Vehicle Batteries Are Becoming Cleaner, More Affordable

Electric vehicle batteries lie at the heart of a revolution that will see the majority of the diesel and petrol-powered cars on the road being replaced with zero-emission electric cars. Unlike internal combustion engines, which require fossil fuels to run, EV batteries can be recharged with electricity, eliminating the need for fossil fuels and reducing tailpipe emissions to zero. Sourcing raw materials and manufacturing EV batteries is incredibly costly, however. With the battery accounting for most of an EV's cost, expensive batteries have pushed up overall EV prices and limited EV ownership to high-earning individuals with plenty of disposable income.…

MondayOct 16, 2023 2:52 pm

EVs Could Get More Affordable as Sodium-Ion Batteries Take Root

Battery electric vehicles (BEVs) may become affordable enough for the average driver if automakers adopt sodium-ion batteries. The standard battery in most BEVs is the classic lithium-ion battery, which relies on positively charged lithium ions to create free electrons and build up a charge. Battery makers have had decades to perfect lithium-ion battery technology, and it was the obvious go-to once companies such as Tesla began developing electric vehicles for the mass market. However, lithium-ion batteries require several rare and expensive minerals to build, making EV batteries incredibly costly to manufacture. Since the battery is the most expensive component in…

FridayOct 13, 2023 1:23 pm

Swedish Firm Manufacturing Flat-Pack EVs Inspired by IKEA

A Stockholm-based electric vehicle startup has begun manufacturing a mini-EV inspired by IKEA’s iconic flatpack design. Fellow Swedish company and EV startup Luvly took inspiration from IKEA’s flat-pack design and developed a small electric car that can be delivered in a flat-pack form. Dubbed the Luvly-O, the mini-electric car is reportedly so light and small that it can cut shipping-related carbon emissions by a significant margin. The Luvly-O is the first-ever electric car to feature flat-pack delivery, and Luvly is hoping its super-lightweight frame and changeable batteries will make the mini-EV a much more sustainable transport option compared to other…

ThursdayOct 12, 2023 1:51 pm

US Motorists Could Soon Instantly Access EV Tax Relief

Drivers in America are only a few months away from gaining instant access to electric vehicle tax relief instead of waiting months for tax season to arrive. Like several other governments, the U.S. government has invested billions of dollars into developing electric vehicle infrastructure in the country and accelerating EV adoption. However, U.S. drivers interested in buying an electric vehicle must first buy the EV at full price and then wait for their tax refund to arrive during tax season. While such credits have undoubtedly spurred electric adoption, they favor drivers who have enough disposable income to buy costly EVs…

WednesdayOct 11, 2023 2:45 pm

Researchers Suggest EV Production Could Require More Workers Than ICE Car Manufacturing

Recent research has suggested that electric vehicle manufacturing may require more labor than previously thought. This research goes against conventional knowledge, which indicates EV manufacturing requires fewer workers because of the simplicity of the electric motor, and indicates that electrification may not result in major job losses in the automotive sector. The nascent electric vehicle industry hasn’t enjoyed 100% support since its inception. While climate-change activists are enthused about the carbon emissions savings America could make by transitioning to battery electric vehicles (BEVs), many people are concerned about the potential implications of ditching internal combustion engine (ICE) cars for battery-powered…

TuesdayOct 10, 2023 3:32 pm

Brussels Formally Starts Chinese EV Subsidy Probe

Weeks after European authorities announced that they would begin investigating the surge of cheap electric cars flooding into the European Union, Brussels has launched a probe into Chinese electric vehicle subsidies. With China’s billion-plus population representing the largest EV market globally, Chinese authorities have invested heavily in building out EV and public-charging infrastructure domestically and internationally. China’s government has invested heavily in local EV companies via massive subsidies, allowing Chinese automakers to sell electric cars at much lower price points compared to other carmakers. Domestically produced and affordable EVs have swept up a large swathe of the Chinese market and…

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…

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