NewsRoom Articles - Page 50 of 128

ThursdayMay 04, 2023 1:48 pm

Hertz Global Announces Fleet Now 10% Electric

Quarter 1 of 2023 saw Hertz achieve a significant milestone in the journey toward electrifying its fleet. By April, the car rental company had 50,000 electric vehicles, accounting for 10% of the company's whole fleet. By year’s end, rentals of electric vehicles are also expected to rise by five times to reach 2 million trips. This is an enormous improvement that demonstrates a growing demand for clean, emission-free vehicles, because rentals are continuously increasing as the company's fleet of zero-emission vehicles expands. Hertz generated revenue of $2 billion for the first quarter of 2023, which was motivated by a significant…

WednesdayMay 03, 2023 2:55 pm

GM to Bring Down Curtain on Chevy Bolt This Year

In last week’s first quarter earnings conference call, General Motors CEO Mary Barra announced that the company intends to discontinue making its electric Chevy Bolt vehicles prior to the year's end. Most of General Motors' electric car sales so far have been made up of the Chevy Bolt EV and EUV, a bigger version of the vehicle. The batteries in the cars, however, are an old design and chemistry compared to those found in the carmaker's more recent electric models, such as the Cadillac Lyriq and GMC Hummer, which are built on GM's Ultium platform. Barra announced that an assembly…

TuesdayMay 02, 2023 1:24 pm

IEA Predicts EV Global Sales Will Leap by 35% in 2023

Electric vehicle sales are expected to reach an all-time high globally in 2023, increasing their market share to around one-fifth and bringing about a significant change in the automotive sector that will have an impact on the energy industry, particularly oil. The IEA's new Global Electric Vehicle Outlook reports show that last year, more than 10 million EVs were offered for sale globally, that number that is projected to increase by 35% in 2023 and hit 14 million EV units. According to Fatih Birol, electric cars are among the main forces behind a new energy economy globally, which is experiencing…

TuesdayMay 02, 2023 9:45 am

Two Recent Mullen Automotive Inc. (NASDAQ: MULN) Deliveries Reflect Growing Interest in EV Fleet Development

MULN delivers initial Class 1 EV cargo vans to two customers: the University of North Carolina and MGT Lease Company UNC Charlotte ordered Mullen’s Class 1 EV cargo vans for use across its 1,000-acre campus Mullen’s Class 1 is a “perfect entry point for us,” said MGT executive In the first of many anticipated deliveries, Mullen Automotive (NASDAQ: MULN) announced that its Class 1 EV cargo vans have been delivered to two customers: the University of North Carolina (https://ibn.fm/xMMun) and MGT, a growing commercial vehicle sales and leasing company (https://ibn.fm/AUvfZ). The vehicle orders were fulfilled with the support of the…

MondayMay 01, 2023 1:48 pm

Tesla Says EV Prices Could Continue Evolving

Despite frequent price reductions hurting the company's revenues, Tesla Inc. (NASDAQ: TSLA) maintains that it does not have any intentions to stabilize its electric vehicle prices. The automaker is struggling with how increasing competition and rising borrowing fees will affect customers. This year, the company has frequently slashed prices in response to the demands. Last week the company warned its investors that product prices could go on an upward or downward trend. Early in the month, billionaire Elon Musk, in a tweet, claimed that the price cuts were not intended to launch a pricing war but rather to make its…

FridayApr 28, 2023 2:09 pm

Swedish EV Maker Introduces Novel Way to Ship Electric Vehicles

A Swedish manufacturer has come up with a way to lower the shipping charges of its smallest electric vehicle, whose price starts at $11,044 and is less than nine feet in length. In the automotive world, a significant number of brand-new players have emerged as a result of the arrival of electric cars. The companies are seeking new territory in the field of electric vehicles and trying to compete with existing brands. One of these companies is Sweden-based Luvly. This car producer hopes to stand out in the field of zero-emission through the mini cars it produces, as well as…

ThursdayApr 27, 2023 12:51 pm

BYD Replaces Tesla as Top Producer of Electric Vehicles Globally

Last year, electric vehicles continued to make history when yearly output for the first time surpassed 10,000,000 vehicles. This is a significant increase from the 6,700,000 made in 2021. To visualize the leading 15 brands in terms of output, data from EV volumes is used. By increasing its production capacity by a staggering 211% last year, BYD Automotive has surpassed Tesla to become the new king of electric vehicles. Following this course, BYD will probably make history by producing more than two million electric vehicles in only one year. Although BYD has such a small presence in international markets, this…

WednesdayApr 26, 2023 11:08 am

How Mechanics Could Be Impacted by EV Proliferation

U.S. President Joe Biden has pledged that by 2032, two-thirds of all new vehicles sold in the country will be powered by electricity. Many significant manufacturers, such as General Motors, have declared that they will completely discontinue producing ICE vehicles in 2035. The future generation of auto mechanics will also be impacted by this change, in addition to drivers. Many workers in this business will be driven out by the rise of electric cars, according to Sam Cicinelli. That is mainly because electric cars require less maintenance. AAA estimates that the average annual maintenance cost of conventional vehicles is $949,…

TuesdayApr 25, 2023 12:04 pm

As EV Prices Tumble on Chinese Market, Automakers Turn to Exports

The sole obstacle to the sale of EVs is their price, Tesla CEO Elon Musk says. In China, companies such as BYD are preparing to resolve the obstacle globally. Last week at Shanghai Auto Show, China's biggest electric vehicle producer introduced a new car, the Seagull, stunning analysts and competitors with its specifications: battery range of more than 300 km (186 miles) and a base price of a few thousand dollars less than most electric vehicles currently in European markets. In spite of economic unpredictability and escalating competition, Tesla reduced prices in the United States last week for the sixth…

MondayApr 24, 2023 1:41 pm

BDEW Says Germany Boosted EV Charging Network by 35% in 2022

The BDEW recently said that last year there was an increase of 35% in electric vehicle charger stations over the level required to meet the increasing numbers of battery electric vehicles being rolled out in Germany. Germany's government authorized a plan totaling $6.9 billion over the next three years in order to rapidly increase the quantity of electric vehicle charging outlets as part of its effort towards carbon neutrality in the transport sector. This plan was launched in October last year. The plan sets a target of a million charging stations in 2030, compared to just 70,000 at present —…

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