NewsRoom Articles - Page 56 of 119

ThursdaySep 29, 2022 11:14 am

IEA Projects That EV Sales Will Reach Record Levels in 2022

More than a decade after the first mass-market electric vehicle was unveiled, EVs are poised to play a critical role in reducing global greenhouse carbon emissions. Transportation is responsible for nearly 30% of carbon emissions worldwide, and world leaders are looking to cut these emissions by replacing conventional internal combustion (ICE) cars with zero-emission electric cars. Although EV sales make up a small percentage of total car sales, the International Energy Agency (IEA) believes that 2022 will be a record year for electric vehicle sales. In its annual Tracking Clean Energy Progress report, the IEA stated that several sectors have…

WednesdaySep 28, 2022 12:35 pm

Musk Announces Unveiling Date for Optimus, Tesla’s Human-Like Robot

Tesla Inc. (NASDAQ: TSLA) has been at the forefront of innovation for the past decade. It was the first company in the world to unveil a mass-market electric vehicle and has become the world's largest electric vehicle producer. Tesla also fought back against the car dealership model to sell cars directly to customers to some success and is working to equip its vehicles with cutting-edge software that will give its EVs self-driving capabilities. In the spirit of innovation, Tesla CEO Elon Musk announced a humanoid robot concept called Optimus in August last year. Speaking at the company’s annual AI Day,…

TuesdaySep 27, 2022 9:45 am

GM Inks Deal to Supply 175,000 EVs to Hertz Global

General Motors has entered into a deal that will see the Detroit-based automaker deliver hundreds of thousands of electric vehicles to rental car giant Hertz Global over the next half-decade. The automaker announced that it would begin supplying EV models such as the Chevrolet Bolt EUV and Bolt EV to Hertz beginning in early 2023. Both companies announced last week that General Motors will sell up to 175,000 electric cars to the rental car giant, with delivery expected to begin in the first quarter of 2023. The Chevrolet Bolt EVs will be followed by EV models such as the Chevrolet…

MondaySep 26, 2022 9:45 am

New EV Rebate Differences Could Overshadow Meeting Between Biden, South Korean President

As the race to complete electrification speeds up, U.S. authorities have become increasingly uncomfortable with America’s reliance on foreign nations in the nascent EV sector. Although American company Tesla was and still is the most dominant entity in the global EV market, a significant percentage of the electric cars on American roads are from overseas carmakers. Furthermore, the country’s electric vehicle battery production capacity pales in comparison to Asian countries such as China. As such, the Biden administration recently passed a law that would, among other things, bolster America’s budding electric vehicle industry by providing up to $7,500 in tax…

FridaySep 23, 2022 12:00 pm

EVs Could Bolster Strained Power Grid in the US

America’s electricity grid is quite vulnerable. Recent extreme weather events in states such as Texas and California have caused power disruptions and outages, underlying just how vulnerable the country’s grid has become. With the United States moving toward a more sustainable future, the grid is expected to take on even more pressure as thousands upon thousands of electric vehicles go online. However, automakers are working hard to ensure that electric vehicles don’t overwhelm the country’s electricity grid via the development of bidirectional charging technology. This technology allows electric vehicle batteries to discharge power back into the grid. So how exactly…

ThursdaySep 22, 2022 1:14 pm

BMW Wants to Dominate EV Battery Industry by Commercializing Cylindrical Batteries

The global electric vehicle market is currently dominated by Tesla. After unveiling the first mass-market electric car more than a decade ago, Tesla has gone on to become the largest electric vehicle maker on the globe, selling more than 2.5 million units worldwide. However, the Texas-based company’s dominance has been threatened by the entrance of new companies into the EV segment, most of them established automakers with decades of experience and millions of sales under their belts. BMW is one such automaker looking to surpass companies such as Tesla by leveraging cylindrical battery designs in its electric cars. Batteries are…

WednesdaySep 21, 2022 2:25 pm

BMW Plans to Use Recycled Fishing Nets in Upcoming EV Models

As the world moves toward a more sustainable energy model, electric vehicles have emerged as a viable replacement for conventional fossil fuel vehicles. Powered by rechargeable lithium-ion batteries, electric cars are all about clean energy and sustainability. Since they use electricity rather than gasoline for fuel, EVs produce zero emissions at the tailpipe, making them quite suitable for a carbon-free economy. Carmakers are employing a variety of tactics to carve up the nascent electric vehicle market for themselves. For example, BMW recently made an announcement that could make the German carmaker quite popular among environmentally conscious drivers. The company announced…

TuesdaySep 20, 2022 12:10 pm

Why Sensors Hold Key to EV Efficiency

America is one of the dozens of countries around the world that are working to cut their carbon emissions. Transportation, which is responsible for 30% of all greenhouse gas emissions, is one of the first industries that will be significantly overhauled as part of global efforts to combat climate change. Zero-emission electric vehicles that are powered by lithium-ion battery packs are poised to play a significant role in the transition to green energy. By replacing internal combustion engines (ICE) with rechargeable batteries, automakers can reduce their vehicles’ tailpipe emissions to zero. Even if the electricity used to power the electric…

MondaySep 19, 2022 10:50 am

Expensive Leasing Terms Are Holding Back EV Uptake

One major complaint about electric vehicles is that they are too expensive. While EVs were already costlier than comparable internal combustion engine (ICE) cars, carmakers have raised average EV prices to a whopping $66,000 in recent months. Factors such as increasing energy prices, shortages of critical parts and costly raw materials have increased the cost of production, forcing automakers to pass on these extra costs to consumers. For drivers who are unable or unwilling to part with tens of thousands of dollars to purchase an EV, leasing presents an attractive option. Meryem Brassington from Lloyds bank group says that the…

FridaySep 16, 2022 2:23 pm

Experts Warn That Skyrocketing Energy Prices Could Jeopardize EV Adoption

As the world collectively strives to cut carbon emissions, several countries around the globe have pledged to replace the conventional internal combustion engine (ICE) cars on their roads with zero-emission electric vehicles. Unlike ICE cars, EVs run on rechargeable lithium-ion battery packs and produce zero emissions at the tailpipe. But despite the lofty electrification plans of most countries, plenty of challenges stand in the way of mass electric vehicle adoption. One of them, experts warn, is the energy crisis that has gripped the world for months. With energy prices rising on an almost daily basis, the cost of producing electric…

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