NewsRoom Articles - Page 54 of 124

ThursdayJan 19, 2023 12:06 pm

Used, Leased EVs to Qualify for US Tax Credits

The United States Department of Treasury gave electric vehicle buyers and international automakers a new year's gift by expanding the number of electric vehicles (EVs) and plug-in hybrids (PHEVs) that qualify for a federal tax credit of about $7,500. The new guidelines include automobiles not made in North America as long as consumers lease or purchase used models instead of brand-new ones. The decision regarding leased vehicles does not relieve the heightened limitations placed on tax incentives for people who purchase brand-new EVs and PHEVs in 2023. The agency wanted to increase North America's production, relocate battery distribution networks in…

WednesdayJan 18, 2023 11:35 am

Amid Growing Competition, Tesla Reduces Car Prices

In an effort to increase the demand for its vehicles on the market, Tesla Inc. (NASDAQ: TSLA) has lowered the cost of a few of its best-known electric vehicles in both Europe and the United States. Tesla faces a challenging prognosis for the world economy and heightened rivalry from more seasoned automakers, as well as China brands that pose risks to the company's expansion. However, in a scenario where so many automakers are vying for a limited number of buyers, the company can no longer keep up with the high cost of its models if its intentions are to continue…

TuesdayJan 17, 2023 1:56 pm

US DOE Makes $42M Available for Developing Better EV Batteries

A dozen projects will receive $42 million in financing from the United States Department of Energy (DOE) in order to strengthen the American distribution network for battery technology used in electric cars. The selected projects for this EVs4ALL program seek to increase the adoption of electric vehicles locally by creating long-lasting batteries that charge quickly, operate effectively and increase customers' trust regarding the range issue. According to the U.S. Secretary of Energy Jennifer Granholm, the number of EV sales has tripled since the commencement of the administration. If battery efficiency, resilience and cost are addressed, then the announced projects will…

FridayJan 13, 2023 11:02 am

BMW Sold More Than 200,000 EVs Last Year

Last year, the total EV sales for the BMW Group was at 215,755, which accounted for more than double the sales made in 2021. These sales came from the company’s BMW and Mini models. In addition, the BMW Group managed to deliver the 500,000th purely electric vehicle to the owner by the close of 2022. BMW made 103,855 BEV sales in 2021. As a result, 2022 represents a 107.7% increase. Out of the total of about 2,400,000 vehicles sold by the Group in 2022, about 9% were electric. In 2023, BMW intends to sell 15% all-electric vehicles. The company maintained…

ThursdayJan 12, 2023 11:54 am

Report Says Europe Will Be EV Use Leader by 2030

By 2030, Europe is anticipated to surpass China as the region with the highest use of electric vehicles globally. According to the Citi State of Global Electric Vehicle Adoption report, Europe is predicted to grow its market share for EVs from its current level of 22% to 67.3%, taking the lead against China's 66.6%, South Korea's 60.5%, the United States' 45.8%, and the Middle East and Africa, predicted at 2.7%. In October, the parliament and the council in Europe came to an agreement that guarantees all newly purchased cars as well as vans registered in Europe will be fully electric…

WednesdayJan 11, 2023 10:45 am

Sony to Make EV That Has PlayStation 5 Games

Afeela, Honda and Sony worked together on a newly developed concept electric vehicle that was unveiled at the 2023 Sony CES conference held in Las Vegas. The Afeela car will be able to stream movies and play Playstation 5 games. After signing an MOU to strengthen relationships within the mobility sector in March 2022, the joint venture, called Sony Honda Mobility, will create and develop a new electric vehicle named Afeela. Sony has continued to support this mobility drive since the 2020 debut of the Vision-S car concept. Although the concept was never realized, Afeela appears to have acquired Sony's…

TuesdayJan 10, 2023 12:47 pm

Auto Parts Maker Says Chinese EVs Cost $10,000 Less to Make Than EU Equivalents

Automakers in China are able to make an EV for 10,000 fewer euros, or $10,618, which is below what their competitors in Europe can charge. The difference is due to their low R&D and capital expenditure costs, as well as low labor costs when compared to their European rivals. According to Patrick Koller, CEO of Forvia, a supplier of vehicles, this denotes massive cost savings, which will pressurize the European car makers in their local markets. Speaking las week at the CES convention in Las Vegas, Koller acknowledged that the cars made in China were good and that it was…

MondayJan 09, 2023 10:51 am

Hyundai Guns for 10% Boost in Global EV Sales

This year, the car company that manufactures Hyundai and Kia cars as well as the well-known EV6 and Ioniq 5 auto cars, announced plans to boost sales by 10% globally while also speeding up the electrification process for EVs. Hyundai has released the 2023 projections even though the company’s 2022 sales goals were unmet because of supply chain issues that brought about shortages of semiconductor chips as well as other critical auto component parts. Supplies of semiconductor chips used to control the electronics in vehicles have been globally unpredictable. This is due in part to COVID-19 regulations seen in China,…

FridayJan 06, 2023 11:18 am

BYD Outsells Tesla in 2022 to Take No. 1 Spot

In December, BYD proved Warren Buffett's Berkshire Hathaway's confidence in the company was not misplaced by recording a huge number of EV sales and solidifying its spot as the leading seller of non-fossil-powered vehicles in the world. BYD, a car manufacturer based in Shenzhen, China, reported that sales of its all-electric vehicles increased 4% from November to December. With the majority of the sales being in China, BYD saw its sales triple to 1.86 million cars overall last year. Since March 2022, BYD, which began as a battery manufacturer, has seen its sales increase monthly, setting new records in 10…

ThursdayJan 05, 2023 11:36 am

EVs Dominate San Diego’s Annual Auto Show

The San Diego International Show, an annual event that brings the latest automobiles, SUVs and trucks as well as alternative fuel vehicles together in one place, concluded on Jan. 2, 2023. After two years of being postponed due to COVID-19, the auto show returned, jam-packed with attendees and thousands of the newest vehicles in a non-selling setup, displaying a wide selection of the latest models that either aren't released in showrooms or are currently needed by people but difficult to find. This year, it was impossible to avoid seeing the presence of electric as well as hybrid vehicles, which was…

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