NewsRoom Articles - Page 60 of 138

ThursdayMay 11, 2023 3:29 pm

Major EV Makers Look to India in Expansion Bid

India is considered by many to be a nation whose impact could increase greatly as the 21st century goes on given its large military, economy, and population. However, the country is yet to catch up in terms of electric vehicle adoption. In the view of the International Energy Agency (IEA), China, the United States and Europe have all become major markets for electric vehicle purchases; the agency reports that more than 50% of the vehicles on Chinese roads are EVs. However, India is still lagging behind. The IEA did note that BEV sales in India increased by four times more…

WednesdayMay 10, 2023 3:14 pm

As More Carmakers Prefer Selling SUVs, Environmental Concerns Rise

A key component of President Joe Biden's strategy to address the climate catastrophe is electrifying the massive fleet of vehicles in the United States. This objective, however, is in danger of being undermined by the exploding size of EVs, which are displacing smaller, more cost-effective vehicles that use less of the environment's resources. In the past week, GM revealed that it would be ending production of the Chevy Bolt later this year. The Bolt is smaller and the most affordable of the greener electric vehicles available, with prices under $30,000. This price is in addition to qualifying for a $7,500…

TuesdayMay 09, 2023 2:40 pm

France Aims for $112 Monthly EV Payment

France Prime Minister Elisabeth Borne announced that the country has set a target of making it possible for members of the public to buy electric vehicles for a monthly payment of $112 (€100). The purpose is to make these vehicles more affordable, especially for the more vulnerable sections of the population. Borne said that the initial batch of EVs at this pocket-friendly cost could become available next year. She added that the government was engaged in discussions with EV manufacturers in France so that vehicles could be more affordable for the population. While no specific details are currently available regarding…

MondayMay 08, 2023 3:26 pm

In a Trend Reversal, Tesla Hikes EV Prices Globally

After a string of price reductions recently that lowered its profit margin to the lowest point since 2020 and created an intense price conflict, Tesla has increased pricing in its key markets for electric vehicles, including China and the United States. Last week, Tesla's website showed that the American automaker has raised the costs of its Model 3 sedan and Model Y SUV by $289 (2,000 yuan) in China, which is Tesla's biggest international market. The starting price for the Model 3 Y is currently 263,900 yuan ($38,175) in China, while that of the Model 3 is 231,900 yuan ($33,546).…

FridayMay 05, 2023 11:20 am

Maserati Seeks to Stand Out by Making Exciting Electric Vehicles

In an interview with Dezeen, Maserati CEO Davide Grasso explained what the vehicle brand is doing to make sure its electric cars offer as good a driving experience as those powered by internal combustion engines. In response to a query from Dezeen, Grasso specifically addressed the idea that electric vehicles are less interesting than fossil-fuel-powered vehicles. According to Grasso, Maserati just revealed an electric vehicle during Milan Design Week 2023 which the company anticipates is going to be as charismatic as its gasoline-powered sports vehicle, which made a name for itself. In his remarks, Grasso maintained that even though the…

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…

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