NewsRoom Articles - Page 54 of 137

FridayJul 14, 2023 11:46 am

Major Carmakers Say US Overambitious EV Plans Could Fail

Leading carmakers say President Joe Biden’s electric vehicle initiative is overambitious and doomed to fail. Battery-electric vehicles are still too expensive for a majority of the market, major automakers say, with most EV drivers taking up to 10 years to break even on their purchase. President Biden based part of his campaign on electrifying America’s transportation sector and passed legislation that would invest billions of dollars into the development of EV infrastructure and EV purchase incentives soon after he came into office. The Biden administration has also committed to investing $2 billion to speed up domestic electric vehicle production. Automakers…

ThursdayJul 13, 2023 1:23 pm

UK Research Shows Lack of Battery Data Hampers EV Insurance

A recent report from UK firm Thatcham Research has revealed that the lack of data on electric vehicle batteries is making it harder for insurers to cover EVs. Even though EV adoption rates have been on the rise for the past couple of years, the electric vehicle industry is still in its infancy. This means that there is limited data on issues such as assessing damage after accidents and affordable EV repair solutions that determine how motor insurers cover automobiles. As a result, insurers have no way of assessing damage to EV battery packs or estimating the cost of repairs,…

WednesdayJul 12, 2023 12:18 pm

Renault Says EV Industry in Europe Faces a ‘Chinese Storm’

The chairman of French vehicle maker Renault has expressed concerns that carmakers in Europe are confronted by an onslaught of electric vehicle exports from China, a country which also currently has a stranglehold on supplies of the key raw materials needed during the manufacture of EVs. Jean-Dominique Senard expressed these concerns as he was being interviewed by Reuters. Describing this pressure as a “Chinese storm,” Senard explained that European companies were capable of producing sufficient numbers of electric vehicles but were currently hampered with the preoccupation of ensuring that they secure the needed raw materials, especially those used to make…

TuesdayJul 11, 2023 2:30 pm

MG Makers Set Sights on Establishing Manufacturing Plant in Europe

SAIC Motor, the Chinese company that owns the MG Car brand, has announced that it plans to set up a vehicle manufacturing facility in Europe. This was after its sales on the continent surged. This new facility will produce EVs only. However, the Chinese-owned company revealed that the company hadn’t yet made a decision about whether their MG vehicles would also be produced at this new production facility. MG cars, a brand that dates back more than a century, were initially produced within the United Kingdom until operations shifted in 2016 to China. Last week, the company’s spokesperson intimated to…

MondayJul 10, 2023 11:57 am

Tesla Remains Dominant in US EV Industry as Hyundai Exceeds GM’s Sales

Motor Intelligence has released data showing that Tesla has maintained its dominance of the U.S. electric vehicle market while legacy automakers have continued to overpromise but under deliver in this nascent industry. The vehicle data firm says that Tesla has widened the gap between its total sales and those of its rivals. For example, in last year’s first half, Tesla’s lead in sales was 225,000 vehicles and that has widened to 300,000 vehicles in the first six months of this year. Overall, Tesla registered an increase of 30% from its total sales during the first six months in 2023 when…

FridayJul 07, 2023 11:12 am

Startups Seek to Address EV Charging Concerns

Prospective EV consumers are being scared away by the notion of charging. If everyone is expected to stop using polluting fuels as soon as possible, then these charging concerns must be addressed. In order to reduce the lengthy periods of charging pauses, automakers are designing vehicles that take less time to recharge and drive longer without needing a recharge. At the same time, more dependable charging outlets are being spread across the nation by charging companies, which might calm nervous drivers. However, certain startups believe there is a need to completely redesign the manner in which electric vehicles are recharged.…

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…

Green Car Stocks provides insights and opportunities in the green transportation sector.

Contact us: (512) 354-7000