NewsRoom Articles - Page 54 of 136

ThursdayJul 06, 2023 2:56 pm

Germany to Avail 900M Euros in Subsidies to Beef Up EV Charging Infrastructure

The ministry for transport announced last week that Germany is going to set aside subsidies amounting to €900 million ($981 million) to increase the number of home and commercial charging points for electric vehicles. According to Dr. Volker Wissing, a policy for infrastructure continues to be a policy for the future. There are presently about 90,000 publicly accessible charging stations in the largest economy in Europe, and the nation wants this count to hit a million by the end of 2030 in an effort to accelerate the adoption of electric vehicles as it works toward becoming carbon neutral in 2045.…

WednesdayJul 05, 2023 1:17 pm

Improved Performance Triggers Improved Perception of EVs Among Potential Buyers

Nearly 50% of car shoppers in the United States intend to purchase an electric car due to its enhanced performance. According to recent EY research, approximately one-half of all consumers in America are preparing to buy an electric vehicle, driven by increased consumer confidence in the industry's most recent performance improvements. More than 15,000 participants across 20 distinct nations participated in a comprehensive poll performed by the EY Mobility Consumer Index. According to the report, 48% of consumers in America have declared their definite plan to buy an electric car in the next two years; this percentage increased by 19…

MondayJul 03, 2023 10:44 am

America, EU Opt for Differing Approaches to China-Made EVs

The perception of Chinese automakers has quickly evolved from that of low-grade imitations to that of serious competitors to Western manufacturers. The country’s local market surpasses all others: China sold 27 million new vehicles locally in 2022, in comparison to the 13.75 million cars and light-duty trucks sold in America and the 9.25 million cars in the European Union. Now Chinese manufacturers are prepared to begin selling vehicles to international markets, and Europe and the United States disagree over the best way to react. China claims that Europe is much more receptive to automobiles built in China than America, which…

FridayJun 30, 2023 11:01 am

Aston Martin Taps Lucid for EV Components in New Deal

Aston Martin and Lucid Motors have agreed to begin producing electric cars with the highest levels of elegance and performance by 2025. The British automaker will create luxurious, great-performing electric vehicles using Lucid components. The London-listed luxury manufacturer, which saw its losses more than double in 2022 to nearly £500 million ($631m), has reached an agreement worth £182 million ($229.7 million) in shares and cash whereby Lucid will acquire 3.7% ownership in Aston Martin. Aston Martin delivered 6,400 high-end automobiles in 2022 and has made significant investments in more recent models. The automaker announced that it would choose Lucid Motors’s…

ThursdayJun 29, 2023 10:51 am

Rivian Announces Switch to Tesla’s NACS Chargers

Earlier this week, Amazon-backed Rivian Automotive Inc. (NASDAQ: RIVN), a manufacturer of electric pickup trucks and SUVs, announced that it is going to embrace Tesla's electric vehicle charging system (NACS), following General Motors and Ford in doing so. According to Rivian, beginning in 2025, it will begin constructing its R1S SUV and R1T truck with charging plugs using the NACS design. Its smaller cars are also going to include charging connectors inspired by Tesla. By spring 2024, owners of Rivian vehicles will be allowed to make use of adapters while accessing the Tesla Supercharging system, which has more than 12,000 quick-charging…

WednesdayJun 28, 2023 2:24 pm

Fisker Inc. Receives Best 2023 EV Award

Fisker Inc. (NYSE: FSR) revealed that it would be attending the Red Dot Design Award Gala to accept the prestigious honor of Best EV for 2023. The renowned Red Dot Product Design Award for 2023's Best Electric Car was given to Fisker. The Red Dot Design Award, which was presented for the first time in 1955, is among the most coveted symbols of excellent design on a global scale. Only products that exhibit exceptional design are given this sought-after seal of quality by the worldwide jury. Fisker presented its renowned electric SUV in the international competition where it was then…

TuesdayJun 27, 2023 12:15 pm

Nio Raises $700M-Plus from Investors in Abu Dhabi

Nio Inc. (NYSE: NIO), an electric vehicle company in China, made a recent announcement that CYVN, a fund controlled by the government of Abu Dhabi, has invested $738.5 million in the company in an effort to improve the financial position of Nio amid a period of fierce price competition in the market, which has caused price-conscious investors to switch to less expensive versions. Nio, along with Li Auto and Xpeng, are some of the companies attempting to seize a greater market for electric vehicles in the largest automobile market in the world, which is controlled by the BYD company. According…

MondayJun 26, 2023 12:04 pm

Giga Lab Demonstrates How Tesla Makes EVs in China

Tesla inaugurated its Shanghai Giga Lab, the first of its kind. During the opening, robots and craftspeople demonstrated for guests how the company's electric cars are made in about 45 seconds. The Giga Lab, which is currently accessible to everyone, is positioned to continue the production and exhibition-style practices of its global siblings, including the Berlin-based Giga Factory. The interior of the Giga Lab is gray and made of steel, using a basic and subdued design language to highlight the spacious space. It’s modeled after the Gigafactory in Shanghai. Tesla Asia has confirmed on Twitter that visitors can buy Tesla electric vehicles at the Giga Lab…

FridayJun 23, 2023 10:13 am

Despite Critical Minerals Agreement with US, Japan Lags in EV Race

An agreement on vital minerals between the United States and Japan was inked in Tokyo last March, ensuring both nations' commitment to bolster supply chains and advance the technology of electric vehicle batteries. In particular, the agreement enables Japanese minerals to satisfy the sourcing standards for the United States EV tax subsidies, enabling a maximum of $7,500 for each vehicle. Despite the agreement, Eurasia Group’s David Boling, director of Japan and Asia trade, remarked that if Japan and its car manufacturers wish to play a significant role in the field of electric vehicles, they need to catch up on a…

ThursdayJun 22, 2023 11:22 am

Fords Says US Isn’t Ready for EV Market Fight with China

Ford's top honcho has issued a warning that the United States is not ready to fight with China over the production of electric vehicles. The chairman of Ford, Bill Ford, said that the company is now mobilizing all resources to prepare for an influx of imports from abroad. He also mentioned how swiftly the electric vehicle market in China had expanded. Ford asserted that Chinese automakers created electric vehicles quickly and on a massive scale, and are currently offering the vehicles for export. With international sales of Chinese-made cars increasing threefold from 2020, reaching more than 2.5 million vehicles in…

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